LAUDERDALE LAKES AND LAUDERHILL, FLA. — Cushman & Wakefield has brokered the $81 million sale of an industrial portfolio in South Florida’s Broward County. The portfolio comprises multiple warehouses branded “Elevate Broward” with suites ranging in size from 1,000 to 10,000 square feet. Dominic Montazemi, Mike Davis, Greg Miller, Rick Brugge and Rick Colon of Cushman & Wakefield represented the seller, Harbert Management Corp., in the transaction. The buyer was NorthBridge Partners. The portfolio comprises eight buildings at 3435-3699 N.W. 19th St. in Lauderdale Lakes and three buildings at 3311 and 1842-1896 N.W. 38th Ave. in Lauderhill. The assets were built between 1979 and 1984 and were leased to more than 100 tenants at the time of sale. Prior to the sale, Harbert Management and operator Last Mile Holdings executed a $2.4 million capital improvement plan for the Elevate Broward portfolio. “We have long believed in the enduring strength and potential of the South Florida industrial market, driven by persistent demand for last-mile and small-bay space in this supply-constrained region,” says Oniel Samuel, managing partner at Last Mile Holdings. “Elevate Broward was a strong example of that opportunity, and we appreciated the opportunity to partner with Harbert in supporting the portfolio’s …
Acquisitions
ATLANTA — Partners Capital, the investment arm of Houston-based Partners Real Estate, has acquired Powers Ferry Business Park, a five-building flex park in Atlanta’s Cumberland-Galleria submarket. Built in 1982, the 261,949-square-foot campus sits on 26 acres within two miles of Battery Atlanta and Truist Park, home of the Atlanta Braves. Partners Capital purchased Powers Ferry Business Park through Opportunity Fund VI, its newly launched investment vehicle. The seller and sales price were not disclosed, but the Atlanta Business Chronicle reports the property traded for $46.1 million in an off-market transaction. The park was 91 percent leased at the time of sale to 36 tenants. Partners Capital plans to make capital improvements to Powers Ferry Business Park over the course of its ownership.
TULSA, OKLA. — Sword Industrial Partners, an affiliate of Dallas-based MAG Capital Partners, has purchased Braniff Park West, a 261,692-square-foot property in northeast Tulsa. The sales price was $20 million. Braniff Park West consists of two buildings on a 21.7-acre site with suites that range in size from 11,000 to 82,000 square feet. The property was 89 percent leased at the time of sale to tenants such as HSM Transportation, Forward Air and Ramsey Industries. Troy Gudgel and Terry Payne of CBRE represented the seller, an undisclosed, locally based partnership, in the transaction.
WILMER, TEXAS — Marcus & Millichap has brokered the sale of a 192-unit self-storage facility in Wilmer, a southern suburb of Dallas. Known as StorageHome, the facility was built in 1979 and expanded in 2007. The property spans 29,800 net rentable square feet of non-climate-controlled space across 26 single-story buildings. Thomas Dickinson, Danny Cunningham and Brandon Karr of Marcus & Millichap represented the seller, an entity doing business as Wilmer Storage LLC, in the transaction. The trio also procured the buyer, Momentum Wealth Fund.
SOUTH WINDSOR, CONN. — CBRE has arranged the $98.2 million sale of The Shops at Evergreen Walk, a 357,742-square-foot retail power center in South Windsor, located just outside of Hartford. Whole Foods Market anchors the center, which is also home to tenants such as lululemon, Golf Lounge 18, J.Crew Factory, Gap Factory, Nike, Bluemercury, L.L. Bean, Apple, Anthropologie, Pottery Barn and Williams-Sonoma. Nat Heald led the CBRE team that represented the seller, PGIM, in the transaction. The buyer was a joint venture between Brand Street Properties and Barings. JLL structured the joint venture and also arranged $76.9 million in acquisition financing through an unnamed international bank for the deal.
KAMUELA, HAWAII — BH Properties has purchased The Shops of Mauna Lani, an open-air retail center along the Kohala Coast on the Island of Hawaii. Terms of the transaction were not released. Situated on 6 acres at 68-1330 Mauna Lani Drive in Kamuela, the property offers 75,000 square feet of retail space. The center is anchored by Tommy Bahama Restaurant & Bar, Island Hopper Taproom, Mauna Lani Coffee Co., Hawaiian Island Creations surf shop, Foodland Farms grocery store and a variety of local retailers, art galleries and wellness operators.
ANAHEIM, CALIF. — CBRE has brokered the sale of an office building located at 2300 E. Katella Ave. in Anaheim. The property traded for $15.1 million. Anthony DeLorenzo, Sammy Cemo and Bryan Johnson of CBRE represented the institutional seller in the transaction. Situated in Anaheim’s Platinum Triangle, the four-story property offers 69,032 square feet of office space.
CANOGA PARK, CALIF. — DAUM Commercial Real Estate Services has directed the sale of a warehouse building located at 805 Deering Ave. in Canoga Park. Chatsworth, Calif.-based Oak Cabessa of MAKS Enterprises acquired the property from 8015 Deering LLC for $3.8 million. Built in 1973, the 12,892-square-foot building features a clear height of 17 feet, grade-level loading, a gated rear concrete yard, fencing and a 1.6:1 parking ratio. Additionally, the property features 6,100 square feet of high-end designer office space with a reception area, hardwood laminate flooring, recessed LED lighting and a full-glass conference room. The buyer plans to use the property as a headquarters for warehousing electronic automobile modules. Dennis Marciniak of DAUM Commercial represented the seller, while Kevin Cooper of Delphi Business Properties represented the buyer in the deal.
NEW CENTURY, KAN. — Newmark Zimmer has brokered the sale of a corporate campus with two buildings totaling 468,255 square feet in New Century. New Century 202 LLC, an entity affiliated with Sky Real Estate, was the buyer. Tommy Gentry and Trey DeRousse of Newmark Zimmer represented the Johnson County Government in the transaction. Located within the New Century AirCenter business park, the campus was originally developed in the early 1980s as a headquarters facility. The property most recently served as a regional headquarters for CenturyLink before becoming vacant. The larger building totals 455,098 square feet, while the smaller building spans 13,157 square feet. Situated on 36 acres, the campus features a traditional corporate headquarters layout with expansive floor plates designed to support a large employee base. The property also includes extensive surface parking and infrastructure that historically supported telecommunications and data center operations. The buyer plans to evaluate a range of potential uses for the property and will conduct a comprehensive review of the campus to determine the highest and best use moving forward.
MT. PROSPECT, ILL. — Monument Capital Management, an A-Rod Corp. company, has sold Eclipse at 1450 for $30 million to Vladimir Novakic. The 222-unit workforce housing community is located at 1450 Busse Road in Mt. Prospect. During the hold period, Monument executed a comprehensive value-add program, renovating approximately 75 percent of unit interiors and upgrading key amenities. The sale follows the December disposition of sister property The Element.