RICHARDSON, TEXAS — Marcus & Millichap has brokered the sale of a 119-room hotel in the northeastern Dallas suburb of Richardson. The Cambria Hotel Richardson-Dallas was built on 2.5 acres in 2019 and offers amenities such as an indoor pool and a fitness center. Chris Gomes of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties requested anonymity.
TOMBALL, TEXAS — Partners Real Estate has arranged the sale of a 25,386-square-foot manufacturing building in Tomball, a northeastern suburb of Houston. According to LoopNet Inc., the building at 1302 S. Cherry St. was built on 3.5 acres in 1980. Wyatt Huff and Hunter Stockard of Partners represented the seller, Harbor Hill Holdings, in the transaction. The buyer was an undisclosed, locally based private investor.
ASHLAND, MASS. — JLL has brokered the $27.9 million sale of a 218,316-square-foot industrial property in Ashland, a western suburb of Boston. The property consists of two buildings on an 18-acre site that were fully leased at the time of sale to fire suppression systems manufacturer Kidde-Fenwal. Michael Restivo, Bob McGuire, Sam Crossan, David Coffman and Tommy Hovey of JLL represented the private seller in the transaction. The buyer was locally based investment firm Rhino Capital Advisors.
DEKALB, ILL. — SVN Chicago Commercial has negotiated the $5.7 million sale of a 100-unit multifamily portfolio in DeKalb. The seven-building portfolio is located on Fotis Drive, Regent Drive, Spiros Court and Edgebrook Drive. DJ Szymanowski of SVN Chicago represented the buyer and seller. The transaction closed in less than seven weeks. The portfolio offers value-add opportunity, according to the brokerage firm.
COLUMBUS, OHIO — Marcus & Millichap has brokered the $2.5 million sale of a 25,360-square-foot industrial property in Columbus. Located at 2536 Creekway Drive, the asset is fully leased to Service Partners under a new triple-net lease with 2.5 percent annual increases through May 2029. The tenant, a subsidiary of TopBuild Corp., occupies both bays of the facility, which was built in 1988 on 1.5 acres. Service Partners relocated to the site in summer 2024 from Mansfield, Ohio. Nathan Pealer of Marcus & Millichap represented the seller, an entity doing business as RM-USE LLC. The property sold for 99 percent of the asking price.
BROOKFIELD, WIS. — NAI Pfefferle has arranged the sale of an 8,500-square-foot retail building in the Milwaukee suburb of Brookfield. The sales price was undisclosed, but the asking price was just under $3 million. Jan Kadow of NAI Pfefferle brokered the sale of the property, which is located at 200 N. Moorland Road.
Space Investment Partners Buys Grocery-Anchored Shopping Center in Fullerton, California for $118.5M
FULLERTON, CALIF. — Space Investment Partner has acquired Fullerton Metrocenter, a grocery-anchored retail center in Fullerton, from Kite Realty for $118.5 million. Located at 1375 Harbor Blvd., Fullerton Metrocenter offers 385,703 square feet of retail space occupied by more than 40 national and local retail tenants, including Sprouts Farmers Market, Target, Urban Air Adventure Park and PetSmart. The property was built in 1988 and renovated in 2002. At the time of sale, the property was 97 percent occupied. Christopher Hoffmann, Mark Damiani and Chase Levra of Eastdil Secured represented the seller in the transaction. Eastdil also arranged acquisition financing on behalf of the buyer. Greg Stampley and Jessica Henning of Eastdil Secured led the debt process.
RICHMOND, VA. — Richmond-based Lucky Strike Entertainment, operator of bowling alleys and entertainment venues that formerly operated as Bowlero, has purchased 58 of its existing locations for $306 million. The deal aims to reduce annual rent obligations, while eliminating the risk of future lease inflation, say company representatives. Lucky Strike will continue to operate each of the locations after the deal closes. The transaction was financed through a $230 million bridge facility under Lucky Strike’s revolving credit line, as well as cash on hand. Spanning 16 states, the 58-property portfolio includes locations in California, Illinois, Georgia, Arizona and Colorado, as well as 11 other states.
ALPHARETTA, GA. — Third & Urban has acquired Georgia 400 Center, a three-building office campus in Alpharetta, a northern suburb of Atlanta. The 430,046-square-foot office park is situated on 24 acres at the interchange of Ga. Highway 400 and Haynes Bridge Road. The seller and sales price were not disclosed. Jay O’Meara, Ryan Reethoff and Justin Parsonnet at Newmark represented the seller in the transaction. Third & Urban purchased the office campus in partnership with Zalik Investment Group. The new ownership is retaining Stephen Clifton, Zach Wooten and Payton Maxheimer of Cushman & Wakefield as the property’s leasing team. The locally based buyer, which is known as a developer of infill mixed-use destinations, plans to modernize the office campus with value-add improvements, including new roofs, lobby renovations and an elevated amenity lounge with a bar, conference center and recreational games. Georgia 400 Center was 67 percent leased at the time of sale to tenants including Morgan Stanley, Century Communities of Georgia and Toll Brothers. Trinity Partners will manage the office campus on behalf of the new ownership.
COLUMBUS, GA. — Legacy Realty Group has arranged the sale of Manchester Square, a 174,459-square-foot shopping center in Columbus. Situated at the intersection of Woodruff Farm and Milgen roads, Food Depot anchors the property. Other tenants include Ollie’s Bargain Hunt, O’Reilly Auto Parts, Planet Fitness, Subway, T-Mobile, H&R Block, Unlimited Wireless, Peluso’s Italian Restaurant and Rainbow Fashions. Built in 1988, the property sits on 22 acres. Jacob Baruch, Jonah Warshaw and Daniel Baruch of Legacy Realty Group Advisors represented both the buyer and seller, Arkansas-based CORE Equity Partners, in the transaction. The sales price was not disclosed.