PHILADELPHIA — JLL has negotiated the $30.8 million sale of Shoppes at Wissinoming, a roughly 98,000-square-foot shopping center in northeast Philadelphia. Grocer ShopRite anchors the center, which was built on 11.3 acres in 2008, with a 67,846-square-foot store. Additional tenants include Wawa, Popeyes, AT&T, Elite Dental and Wissinoming Laundromat. Jim Galbally, Patrick Higgins and JP Colussi of JLL represented the seller, ARCTRUST, in the transaction. The buyer was an affiliate of Brown’s Real Estate. Shoppes at Wissinoming was 98 percent leased at the time of sale.
GREAT FALLS, MONT. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Talus Apartment Homes, a multifamily property in Great Falls. Brock Zylstra and Danny Shin of IPA, in association with Adam Christofferson as Marcus & Millichap’s broker of record in Montana, represented the seller and procured the buyer in the deal. Terms of the transaction were not released. Built in two phases in 2015 and 2018, Talus Apartment Homes features 288 studio, one- and two-bedroom layouts with open concept living areas. All units offer stainless steel appliances, modern cabinetry and washers and dryers. Community amenities include a resort-style swimming pool, 24-hour fitness center and a clubhouse with a theater and media room.
SAN FRANCISCO — REALM, in partnership with Cannae Partners, has purchased 340 Bryant Street, an office building in San Francisco’s South Beach submarket, for $10 million. At the time of sale, the 66,000-square-foot property was fully vacant. The seller was not disclosed. Originally constructed in 1932, the property was previously occupied by WeWork and renovated in 2015 with approximately $14.7 million of capital improvements. The four-story building features modern systems, exposed ceilings, creative finishes, a rooftop deck, showers, locker rooms and flexible zoning supporting office and research-and-development (R&D).
TOPEKA, KAN. — The International Hot Rod Association (IHRA) has acquired Heartland Motorsports Park in Topeka. Originally opened in 1963 as Topeka Dragway, the facility later evolved into Heartland Motorsports Park. Over the decades, the park has hosted major national drag racing events, road racing, karting, motocross and grassroots competitions. Planned restoration and redevelopment efforts will focus on creating a year-round destination that blends motorsports with live entertainment and community engagement. Specifically, plans call for: revitalized drag racing operations with improved racer and fan amenities; expanded motorsports and special event programming; live music, concerts and festival experiences; enhanced hospitality, vendor and fan experience areas; community-focused events designed to drive tourism and economic impact. Renovation planning will begin immediately, with additional announcements regarding redevelopment phases, event schedules and community partnerships expected in the coming months.
PERRIS, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the $4.8 million sale of a newly constructed, single-tenant retail property located in the Inland Empire city of Perris. A Starbucks café and drive-thru occupies the 2,200-square-foot building on a 10-year triple-net corporate lease with 10 percent rental increases every five years. Bill Asher and Jeff Lefko of Hanley represented the seller and developer, Yellow Rose Ranch LLC, an affiliate of The Lynch Group. Betty Gulezyan of I.D.L. Home represented the buyer, a private investor based in Newport Beach, Calif. Hanley Investment Group has sold 18 single-tenant Starbucks properties totaling $55 million in the past 18 months.
LA CROSSE, WIS. — Marcus & Millichap has arranged the sale of The Charmont Hotel, a 67-room boutique hotel property in La Crosse. The property was formerly a 19th-century candy factory. The hotel features a full-service restaurant, rooftop terrace, fitness center and more than 900 square feet of meeting space. Open since 2017, the asset is steps from the Mississippi River. Ebrahim Valliani, Michael Klar, Dan Danielak and Todd Lindblom of Marcus & Millichap represented the seller, a private investor group, and procured the buyer, Diane Hendricks, founder of Hendricks Commercial Properties LLC. The transaction received additional support from Chris Gomes and Allan Miller of Marcus & Millichap’s Miller-Gomes Hotel Team.
CHICAGO — Greenstone Partners has brokered the sale of a flex industrial property in Chicago’s Irving Park neighborhood for nearly $17 million. Located at 3800 N. Milwaukee Ave., the 128,222-square-foot facility features a diverse tenant mix, including a daycare, multiple indoor sports facilities and an auto-related office and service operator. At the time of sale, the property was 98 percent leased. Danny Spitz and Brewster Hague of Greenstone represented the seller and procured the buyer, an Illinois-based private equity group.
HOUSTON — JLL has brokered the sale of a portfolio of three industrial properties in Houston: Central Green Corporate Center (516,134 square feet), North Houston Logistics Center Building G (351,400 square feet) and West Little York (153,188 square feet). Known as the NxNW Houston Class A Logistics Portfolio by virtue of the properties’ locations on the city’s north and northwest sides, the approximately 1 million-square-foot portfolio comprises six buildings with an average vintage of 2016 and clear heights that range from 26 to 36 feet. Trent Agnew, Charlie Strauss, Lance Young, Brooke Petzold and Dawson Hastings of JLL represented the undisclosed seller in the transaction. The buyer was a fund backed by Ares Management Corp. The portfolio was 95 percent leased to 10 tenants at the time of sale.
DENTON, TEXAS — Mexico-based investment firm Vazma Capital has purchased a 73,104-square-foot industrial building in the North Texas city of Denton. The building at 2801 N. I-35 was built in 1979 and was formerly occupied by the seller, food and beverage distributor Ben E. Keith Co. Andrew Clark of Bradford Commercial Real Estate Services represented the buyer, which plans to use the building to expand its auto parts distribution network, in the transaction. David Walters and Brice Wells of CBRE represented the seller.
NEW YORK CITY — Newmark has brokered the $425 million sale of The Shops at Skyview, a 555,000-square-foot grocery-anchored retail center located in the Flushing neighborhood of Queens. Anchored by BJ’s Wholesale Club and Sky Foods, The Shops at Skyview was 97 percent leased at the time of sale. Additional tenants include Target, Nordstrom Rack, Bath & Body Works, Burlington, Adidas, Converse, Marshalls, Foot Locker, Old Navy, Sephora and Swarovski. Adam Spies, Adam Doneger, Conor Lalor and Ben Lushing of Newmark represented the seller, Perform Properties, in the transaction. Jordan Roeschlaub, Nick Scribani, John Caraviello and Tim Polglase, also with Newmark secured a $289 million acquisition loan through Mizuho on behalf of the buyer, a joint venture between Acadia Realty Trust and TPG Real Estate.