HOUSTON — Locally based brokerage and investment firm Baker Katz has purchased Lakewood Forest Shopping Center, a 108,016-square-foot shopping center located in northwest Houston. According to LoopNet Inc., the center was originally built in 1984. Current tenants include Planet Fitness, Dollar Tree, First Watch, Taco Cabana and KFC. Jason Baker, Kenneth Katz, Ben Brown and Jack Moody led the transaction internally for Baker Katz. The seller and sales price were not disclosed.
HOUSTON — Chicago-based Brennan Investment Group has purchased an industrial outdoor storage (IOS) facility in South Houston. The 7.5-acre facility at 55 Southbelt Industrial Drive features a 32,025-square-foot building with 17 grade-level doors in a cross-dock configuration, as well as a single 30-ton exterior crane and 4 acres of outdoor storage space. The seller and sales price were not disclosed.
TUCSON, ARIZ. — Pacific Transwest — Nevada has acquired Ventura Villas in Tucson for $32 million. The seller was a limited liability company doing business as RDM Tucson. Northmarq arranged the sale and represented the seller. Built in 1989, Ventura Villas features one- and two-bedroom units averaging 606 square feet. The community features a resort-style pool, basketball court, playground and laundry facilities. Northmarq’s Phoenix-based multifamily investment sales team was led by Trevor Koskovich, Jesse Hudson, Ryan Boyle and Logan Baca. Ventura Villas is located at 6200 S. Campbell Ave.
GILBERT, ARIZ. — Simone Charitable Foundation has acquired a logistics facility located at 3797 S. Silverado Court in Gilbert from ATLAS for $26.8 million. Brian Ackerman of Colliers represented the buyer, while Will Strong of Cushman & Wakefield represented the seller in the deal. The 60,500-square-foot property serves as a regional distribution center for Frito-Lay, a division of PepsiCo. Delivered in 2024, ATLAS developed the property as a build-to-suit for PepsiCo Global Real Estate, and the facility is leased on a long-term basis. The asset features a 161-foot building depth, 130-foot truck court and more than 2 acres of secured concrete yard.
COLUMBIA, MO. — Vesper Holdings has acquired The Den, a 522-bed student housing community located near the University of Missouri campus in Columbia. Vesper acquired the property in partnership with an undisclosed institutional investor. Built in 2014, the four-story community offers fully furnished units in two- and four-bedroom configurations with bed-to-bath parity. Shared amenities include a resort-style pool, fitness center, clubhouse, game room, computer room, dog park, hammock garden, basketball courts, study rooms, fire pits and an outdoor kitchen and grilling area.
OAKDALE, MINN. — Brisky Net Lease has brokered the $23 million sale of a 199,919-square-foot industrial building in Oakdale, a suburb of the Twin Cities. Superior 3rd Party Logistics occupies the facility, which is located at 3490 Hayward Ave. Brian Brisky of Brisky Net Lease was the only broker involved in the sale of the property, which was built in 2022 on 15.1 acres within the larger 4Front Technology & Office Campus.
ELMWOOD PARK, ILL. — Interra Realty has arranged the $12.2 million sale of Harlem Towers, a two-tower multifamily property with 83 units in the Chicago suburb of Elmwood Park. Patrick Kennelly, Paul Waterloo and Nathan Zito of Interra represented the buyer, Pabcor Management, and the seller, Neder Capital Services. Yaryna Makarchuk served as the seller’s representative throughout the transaction. Located at 2300-2310 N. Harlem Ave., the property includes 27 one-bedroom units, 55 two-bedroom residences and one three-bedroom apartment. In addition to some unit renovations, recent capital improvements include upgraded elevators, common area refurbishments and new fire alarm and elevator monitoring systems. The asset was built in 1975 and features two eight-story towers. Harlem Towers will be rebranded as The American Elm after the elm trees that inspired Elmwood Park’s name.
ST. CHARLES, ILL. — Greenstone Partners has negotiated the $1.9 million sale of a 4,083-square-foot, two-tenant retail center located at 2701 E. Main St. in St. Charles. The property, which features a drive-thru, is occupied by Dunkin’ and Options Medical, a weight loss facility with 40 locations across the U.S. Both tenants operate under net lease structures. Brewster Hague, AJ Patel and Tom Galvin of Greenstone represented the seller, a private partnership. The buyer was a local investor.
MADISON, N.J. — JLL has brokered the sale of 2 Giralda Farms, a 146,366-square-foot office building located within the 181-acre Giralda Farms corporate campus in the Northern New Jersey community of Madison. The four-story building, which was constructed in 2001, formerly served as the U.S. headquarters for global shipping giant Maersk before being leased by pharmaceutical company Merck through mid-2025. Jeremy Neuer, Jose Cruz, Ryan Robertson, Tim Greiner and Mike Pietrowicz of JLL represented the undisclosed institutional seller in the transaction. The team also procured the buyer, a subsidiary of Gellert Global Group.
MEMPHIS, TENN. — The City of Memphis has acquired the Sheraton Memphis Downtown, a 600-room hotel located at 250 N. Main St. in downtown Memphis. The seller, an undisclosed institutional hotel investment firm, and the sales price were not disclosed, though local media outlets are reporting the asset traded for $22 million. Spencer Davidson and Tim Osborne of Hunter Hotel Advisors brokered the transaction. The city is partnering with Carlisle Development Group to overhaul and rebrand the property as Marriott Hotel Downtown Memphis. The hotel currently features 18,131 square feet of onsite meeting space, an indoor pool, fitness center and direct access via an enclosed skywalk to the 300,000-square-foot Renasant Convention Center, which recently underwent a $200 million modernization. Specific plans and construction timelines for the hotel redevelopment project were not released.