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Acquisitions

Ten-Pines-at-Summerwood-Houston
AcquisitionsMultifamilyTexas

Limited Liability Company Buys Northwest Houston Multifamily Property for $31.2M

by Taylor Williams

HOUSTON — A limited liability company doing business as 14700 TP LLC has purchased Ten Pines at Summerwood, a multifamily property in northwest Houston, for $31.2 million. According to LoopNet Inc., the property was built in 2013 and totals 240 units. Units come in one-, two- and three-bedroom floor plans and are furnished with island kitchens, stainless steel appliances, ceramic tile flooring, walk-in closets and individual washers and dryers. Amenities include a pool, fitness center, business center, clubhouse, sports lounge and an outdoor lounge area. Dustin Seltzer of JLL was the listing agent on the deal.

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AcquisitionsRetailTexas

JLL Negotiates Sale of 116,000 SF Shopping Center in Killeen, Texas

by Taylor Williams

KILLEEN, TEXAS — JLL has negotiated the sale of Killeen Marketplace, a shopping center in Central Texas. According to the website of the new owner, Chase Properties, Killeen Marketplace totals roughly 116,000 square feet and is anchored by Best Buy, Ross Dress for Less, Shoe Carnival and dd’s Discounts. The property traded as part of a portfolio deal that included a retail center in Lufkin, Texas, as well as two shopping centers in Arkansas. Adam Howells, Barry Brown and Erin Lazarus of JLL represented the seller, Ball Ventures, in the transaction. Deborah Johnson of JLL assisted in closing the deal as the broker of record.

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AcquisitionsRetailTexas

EDGE Capital Markets Brokers Sale of 12,500 SF Retail Strip Center in Stafford, Texas

by Taylor Williams

STAFFORD, TEXAS — EDGE Capital Markets has brokered the sale of Shops at The Grid, a 12,500-square-foot retail strip center in Stafford, a southwestern suburb of Houston. The newly constructed center, which was fully leased at the time of sale, lies at the entrance of The Grid, a 192-acre master-planned development anchored by Costco Business Center and Target. Chace Henke and Micha van Marcke of EDGE represented the undisclosed seller in the transaction.

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Palmetto Plaza
AcquisitionsFloridaRetailSoutheast

CORE Sells Palmetto Plaza Retail Center in Miami Gardens for $46M

by Abby Cox

MIAMI GARDENS, FLA. — Core Palmetto, an affiliate of Core Investment Management, has sold Palmetto Plaza, a 186,095-square-foot retail center located in Miami Gardens, roughly 16 miles north of downtown Miami. The sales price was $46 million. Core originally acquired Palmetto Plaza in 2021 for $33 million.Aldi and Dollar Tree anchor the property, which was more than 95 percent leased at the time of sale. Other tenants include The UPS Store, Regions Bank, Dunkin’ and Bright Star Academy. Built in 1987, the center sits on nearly 12 acres. Douglas Mandel and Zach Levine of Marcus & Millichap represented Core in the transaction and procured the undisclosed buyer.

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Carillon Bay Apartments
AcquisitionsFloridaMultifamilySoutheast

CBRE Arranges Sale of 304-Unit Multifamily Community in St. Petersburg, Florida

by Abby Cox

ST. PETERSBURG, FLA. — CBRE has arranged the sale of Carillon Bay Apartments, a 304-unit, value-add multifamily complex located in St. Petersburg within the Gateway Business District. A Texas-based firm purchased the property for $37 million, according to the Tampa Bay Business Journal. Michael Regan, Cameron Barbas and Matthew Valeri of CBRE represented the seller, Eagle Property Capital, in the transaction. Formerly Gateway on 4th, Carillon Bay comprises 32 two-story buildings and offers one-, two- and three-bedroom floorplans ranging in size from 618 square feet to 1,498 square feet. Units also feature walk-in closets, washer/dryers and private patios or balconies. Amenities include a resort-style swimming pool, 24-7 fitness center, dog park and a children’s playground.

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Former Tyson Foods plant
AcquisitionsIndustrialSoutheastVirginia

Cushman & Wakefield | Thalhimer Brokers $5M Sale of Former Tyson Foods Plant in Suburban Richmond

by Abby Cox

GLEN ALLEN, VA. — Cushman & Wakefield | Thalhimer has brokered the $5 million sale of a former Tyson Foods plant located on approximately 53 acres at 13264 Mountain Road in the Richmond suburb of Glen Allen. An entity doing business as Hanoverlovestheproperty LLC purchased the 208,000-square-foot property from Tyson Farms Inc. Graham Stoneburner, Danny Holly and Chrissy Chappell of Cushman & Wakefield | Thalhimer represented the seller in the transaction.

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Silver Spring data center
AcquisitionsData CentersIndustrialLeasing ActivityMarylandSoutheast

Sansone Group, Priseda Acquire 214,000 SF Data Center in Metro D.C.

by Abby Cox

SILVER SPRING, MD. — A partnership between St. Louis-based Sansone Group and locally based data center operator Priseda has acquired a 214,000-square-foot data center located in Silver Spring, just north of Washington, D.C. JLL Capital Markets arranged acquisition financing through Maryland-based Poverni Sheikh Group (PSG). The tier IV data center currently supports mission-critical operations and is slated for infrastructure enhancements, including the modernization of tier transitions, which will improve data center infrastructure performance and reliability, as well as an expansion of power capacity up to 100 megawatts. The new ownership is actively leasing the property and has secured a long-term lease with an undisclosed anchor tenant.

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11811-Teale-St-Culver-City-CA
AcquisitionsCaliforniaOfficeWestern

UNFOLD Acquires Creative Office Building in Culver City, California for $11M

by Amy Works

CULVER CITY, CALIF. — UNFOLD has purchased an ultra-creative office building, located at 11811 Teale St. in Culver City, from Therapy Studios for $11 million. UNFOLD also owns the adjacent building at 11801 Teale St. The buyer plans to create a campus environment with the acquisition of 11811 Teale Street. The 13,110-square-foot property is a semi-circular, Quonset hut-style creative office building featuring polished concrete floors, high/open ceilings and recording studios. The building previously served as a manufacturing support facility for the Hughes Aircraft Co. before being converted and renovated in 2018. Founded in 2012, UNFOLD is a digital creative agency that has grown to over 150 people with full-service capabilities in media, digital advertising, social media, website development and production services. Ben Silver of JLL represented UNFOLD, while Travis Landrum and Trevor Beldon of Industry Partners represented the seller in the deal.

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AcquisitionsIllinoisMidwestOffice

CBRE Brokers $3.2M Sale of Creative Office Building in Chicago’s River North

by Kristin Harlow

CHICAGO — CBRE has brokered the $3.2 million sale of 219 W. Chicago Avenue, a boutique creative office property in Chicago’s River North neighborhood. The asset spans 19,615 square feet and is currently 78 percent leased. CBRE’s Dominic Soltero, Tom Svoboda and John Saletta represented the undisclosed seller. The transaction marks the first investment in Chicago for the international buyer. The property benefits from DX-5 zoning, allowing for future conversion to high-rise residential, office or apartment use with ground-floor retail.

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springfield-va-industrial-property
AcquisitionsIndustrialLoansSoutheastTop Stories

JLL Arranges $352.7M in Financing for Fundrise National Industrial Portfolio in Sun Belt, Mid-Atlantic

by Abby Cox

WASHINGTON, D.C. — JLL Capital Markets has arranged a $352.7 million financing package for the Fundrise National Industrial Portfolio, a collection of 12 institutional-quality industrial buildings concentrated in the Mid-Atlantic and Sun Belt regions. Goldman Sachs and TPG Real Estate Credit provided the loan to an affiliate of Fundrise, a private equity firm based in Washington, D.C. Robert Carey, Carl Beardsley, Jason Carlos, Gus Caiola and Patrick Wu of JLL’s Debt Advisory team arranged the loan, which will be used to refinance the portfolio. “This financing will enable us to advance our long-term business plan for the industrial portfolio, create value for our investors and capitalize on the strong macro tailwinds in the industrial sector today,” says Brandon Jenkins, chief operating officer of Fundrise. Buildings within the portfolio, which totals roughly 3.2 million square feet, feature LED lighting, ESFR sprinkler systems, cross-dock configurations and clear heights ranging from 23 feet to 40 feet. “This portfolio represents a compelling investment opportunity, offering both geographic diversification and strong income stability from a quality tenant roster,” says Carey. “The strategic locations near major transportation networks, including international airports and key interstate corridors, position these assets to benefit from continued logistics demand.” The facilities …

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