LAFAYETTE, COLO. — AQYRE Real Estate Advisors has facilitated the sale of Baseline Village Apartments in Lafayette. The property traded hands for $12.5 million, or $357,143 per unit. The names of the buyer and seller were not released. Matt Lewallen of AQYRE represented the buyer and seller in the deal. Located at 811-813 E. Baseline Road, the 47,236-square-foot Baseline Village features 35 apartments.
MORENO VALLEY, CALIF. — Progressive Real Estate Partners has arranged the sale of a freestanding restaurant building located at 23040 Alessandra Blvd. in Moreno Valley. Carnitas al Estilo Michoacan acquired the property for $1.6 million. The recently remodeled restaurant is fully equipped and features an extra-large kitchen with two walk-in coolers, a spacious interior dining area, outdoor patio seating and a full bar. The buyer plans to open its second Inland Empire restaurant, which is known for its Michoacan-style carnitas and Mexican dishes, at the location this spring. Albert Lopez of Progressive Real Estate Partners handled the transaction.
SAN FRANCISCO — SBC Investors LLC has completed the sale of an 8.2-acre land site located at 200-212 Shaw Road, 214-218 Shaw Road and 1264-1272 San Mateo Ave. in San Francisco. Prologis acquired the property for an undisclosed price. The 8.2-acre site is adjacent to San Francisco International Airport and U.S. Route 101, connecting South San Francisco to the rest of the Bay Area. Additionally, the property is roughly four blocks from the BART San Bruno station and five blocks from the CalTrain San Bruno station. Darla Longo, Rebecca Perlmutter, Marshall Hydorn, David Black and Karl Hansen of CBRE represented the seller, while the buyer was self-represented in the deal.
ANNAPOLIS, MD. — A joint venture between Realterm and J.P Morgan Asset Management has acquired a 54-property, 1.8 million-square-foot industrial portfolio. The properties are located in 28 states and are in markets including Atlanta, Chicago, Dallas, New York, Philadelphia and New Jersey. The portfolio spans a total of 717 acres and features 2,090 doors. The sales price was not disclosed, though funding was provided through the Realterm Logistics Income Fund (RLIF) in a 50/50 joint venture with institutional investors advised by J.P. Morgan Asset Management. Annapolis-based Realterm will manage the portfolio. Avison Young represented the undisclosed seller in the transaction.
MARIETTA, GA. — A joint venture between Cyclone Investment and Skywood Properties has acquired 1035 Gateway Apartments, a 214-unit multifamily community in Marietta. The property offers one-, two- and three-bedroom floor plans averaging 1,000 square feet. Communal amenities include a pool, dog park, clubhouse and laundry facilities. The asset is located at 1035 Franklin Gateway SE, less than one mile from the Atlanta United soccer team training ground and 16 miles northwest of downtown Atlanta. The seller, Miami-based Main Street Residential, bought the community in 2018 and invested $2 million for capital improvement to the exterior of the building, common areas and unit renovations. Phil Goldstein and Steven Vegh of Westwood Realty Associates represented the buyer in the transaction.
HOUSTON — Chicago-based investment firm Dayton Street Partners has acquired a 500,000-square-foot logistics property in northeast Houston that features a 333-door truck terminal and a 33-bay maintenance facility. The property is situated on 90 acres at 5800 Mesa Drive, just south of Interstate 610 and less than 10 miles from Port Houston. Dayton Street Partners will undertake a multimillion-dollar renovation of the terminal and the development of 25 acres for secured trailer parking. The undisclosed seller was a private investor.
HOUSTON — Younan Properties Inc., a Los Angeles-based subsidiary of global private equity firm Younan Co., has acquired Two Westlake Park, a 455,000-square-foot office building located in Houston’s Energy Corridor. The building was constructed on 5.4 acres in 1982 and is situated within Westlake Park, an office development that spans more than 2.8 million square feet across 58 acres. Dan Miller and Marty Hogan of JLL represented the seller, PIMCO, in the transaction. Younan Properties was self-represented.
HASLET, TEXAS — Bellomy & Co. has brokered the sale of Life Storage, a 623-unit self-storage facility in Haslet, located approximately 16 miles from downtown Fort Worth. The property spans 78,950 net rentable square feet. Bill Bellomy and Michael Johnson of Bellomy & Co. represented the seller, a locally based limited partnership, in the transaction. The duo also procured the buyer, New York-based Angelo Gordon Real Estate Inc.
AUSTIN, TEXAS — Dallas-based Muskin Commercial has arranged the sale of The Arts Apartments at Turtle Creek, a 95-unit multifamily complex located just south of downtown Austin. The property is situated on 5.3 acres and features one- and two-bedroom floor plans. Amenities include a pool, dog park and multiple art installations. Muskin Commercial represented the undisclosed, Dallas-based seller in the transaction. Locally based investment firm Narrow Road Group purchased the complex for an undisclosed price and will implement a value-add program that includes rebranding the property as Arroyo Apartments.
KANSAS CITY, KAN. — Industrial Logistics Properties Trust (NASDAQ: ILPT) has purchased a Class A warehouse in Kansas City for $44 million. Built in 2018, the 645,000-square-foot building is situated on 57 acres at 17001 W. Mercury St. The property is fully leased to one tenant, which has 12 years remaining on its lease. The sales price represents a cap rate of 6.5 percent. Industrial Logistics Properties Trust is a publicly traded REIT with 301 properties spanning 43.8 million rentable square feet in its portfolio as of Sept. 30.
