Acquisitions

ACD Buys 46,700 SF Self-Storage Facility in West Haven, Utah

by Amy Works July 2, 2025

WEST HAVEN, UTAH — ACD, a Denver-based commercial real estate investment firm operating a portfolio of self-storage assets, has acquired a self-storage facility in West Haven from a local development company for an undisclosed price. ACD will assume management of the 46,700-square-foot property under its in-house brand, BriteLock Storage. The asset is currently managed by Extra Space. Built in 2020 on 2.6 acres, the property consists of nine single-story self-storage buildings with 250 drive-up units and 176 climate-controlled units. Amenities include a gated entry with digital keypad, a separate onsite management office in front of the entrance gate, 24/7 video surveillance, asphalt driveways and units with roll-up doors. Jordan Farrer and Adam Schlosser of the LeClaire-Schlosser Group of Marcus & Millichap represented the seller and procured the buyer in deal.

July 2, 2025

Acquisitions California Office Western

Creative Arsenal Sells 20,347 SF Office Building in Burbank, California

by Amy Works July 2, 2025

BURBANK, CALIF. — Creative Arsenal LLC has completed the sale of an office building, located at 400 S. Victory Blvd. In Burbank, to a private buyer for $5.8 million. The three-story property offers 20,347 square feet of creative office, production and post-production space and immediate access to I-5 and I-134. Gerard Poutier, Mark Shaffer, Anthony DeLorenzo and Dylan Rutigliano of CBRE represented the seller in the transaction.

July 2, 2025

Acquisitions Multifamily Texas

TruAmerica Multifamily Acquires 280-Unit Dominion Park Apartments in San Antonio

by Taylor Williams July 1, 2025

SAN ANTONIO — TruAmerica Multifamily, a Southern California-based investment firm, has acquired the 280-unit Dominion Park Apartments in San Antonio. Built in 2002 on the city’s northwest side, the garden-style community offers a mix of one-, two- and three-bedroom units with an average size of 866 square feet. Amenities include a pool, fitness center, business center, dog park, clubhouse and grilling stations. Approximately 96 units have undergone prior renovations, and TruAmerica plans to renovate the remaining residences. Northmarq arranged both the sale of the property and acquisition financing for the deal. The seller and sales price were not disclosed.

July 1, 2025

Acquisitions Retail South Carolina Southeast

Marcus & Millichap Negotiates $7.4M Sale of Braves Village Shopping Center Near Myrtle Beach

by Abby Cox July 1, 2025

SOCASTEE, S.C. — Marcus & Millichap has negotiated the $7.4 million sale of Braves Village Shopping Center, a 60,914-square-foot retail center located in the Myrtle Beach suburb of Socastee. Food Lion anchors the center, which was built in 1985. Additional tenants include Rent-A-Center, Metro by T-Mobile and Any Lab Test Now. Lori Schneider and David Gant of Marcus & Millichap represented the undisclosed seller and procured the buyer, Brentwood Realty, in the transaction. Benjamin Yelm served as Marcus & Millichap’s broker of record in South Carolina for the deal.

July 1, 2025

Acquisitions Company News Mixed-Use Retail Southeast

Simon Acquires Majority Interest of Shops at Brickell City Centre in Downtown Miami for $512M

by Abby Cox July 1, 2025

MIAMI — Indianapolis-based mall giant Simon Property Group has acquired the remaining interest of the retail and parking component at Brickell City Centre, a 5.4 million-square-foot mixed-use development in downtown Miami. Swire Properties Inc. sold the majority 75 percent stake in the property’s 500,000-square-foot retail portion for $512 million, according to several media outlets. Simon had previously owned a 25 percent, non-managing interest in The Shops at Brickell City Centre. Following the transaction, Simon is now the sole owner and manager of the property’s retail and entertainment component. Completed in 2016, The Shops at Brickell City Centre comprises four four-story buildings across three city blocks. Anchored by SAKS Fifth Avenue, additional retail tenants at the center include Apple, Chanel Fragrance & Beauty Boutique, Coach, lululemon, Sephora, Zara and Nike. The property also features a multi-level food hall and entertainment venues including CMX and PuttShack.

July 1, 2025

Acquisitions Industrial Texas

Partners Brokers Sale of Five Industrial Buildings Totaling 75,000 SF in Friendswood, Texas

by Taylor Williams July 1, 2025

FRIENDSWOOD, TEXAS — Partners Real Estate has brokered the sale of five industrial buildings totaling approximately 75,000 square feet in Friendswood, a southeastern suburb of Houston. The buildings are located within the 120,000-square-foot Rex Road Industrial Business Park. Michael Keegan and Andrew Laycock of Partners represented the seller, Rex Industrial Partners, in the transaction. The buyer and sales price were not disclosed. Partners was also involved in recently negotiating leases at two of the property’s eight buildings.

July 1, 2025

Acquisitions Retail Texas

NewQuest Arranges Sale of 28,322 SF Retail Center in Corsicana, Texas

by Taylor Williams July 1, 2025

CORSICANA, TEXAS — Houston-based brokerage firm NewQuest has arranged the sale of Southland Center, a 28,322-square-foot retail center located south of Dallas in Corsicana. The center was developed in the mid-1980s and was fully leased at the time of sale to tenants such as Scrappin Goodtimes and Anytime Fitness. Dakota Workman of NewQuest represented the sellers, private investors Robert Gegenheimer and Joanna Hunt, in the transaction. Daniel Wenz Jr. of Wenz Investment Group represented the buyer, Dallas-based Audax Enterprises.

July 1, 2025

Acquisitions Massachusetts Multifamily Northeast

CBRE Negotiates Sale of 99-Unit Apartment Building in Easton, Massachusetts

by Taylor Williams July 1, 2025

EASTON, MASS. — CBRE has negotiated the sale of a 99-unit apartment building in Easton, located roughly midway between Boston and Providence. Zen Easton is a three-story building that was completed in 2003 and offers studio, one- and two-bedroom units with an average size of 798 square feet. Amenities include a resident lounge, dining hall and catering kitchen, cyber lounge, fitness center, library and two theater rooms. Simon Butler, Biria St. John, John McLaughlin and Brian Bowler of CBRE represented the seller, an affiliate of San Francisco-based FPA Multifamily, in the transaction. CBRE also procured the buyer, an unnamed institutional investor.

July 1, 2025

Acquisitions Arizona Multifamily Nevada Western

Kennedy Wilson Acquires 700 Multifamily Units Across Two Western Communities for $166M

by Amy Works July 1, 2025

NORTH LAS VEGAS, NEV., AND TEMPE, ARIZ. — In two separate transactions, a real estate fund managed by Kennedy Wilson has purchased Tides on Commerce in North Las Vegas and Finisterra in Tempe for a total of $166 million, excluding closing costs. The fund invested a total of $61 million of equity in these transactions. The names of the sellers were not released. Tides on Commerce offers 336 apartments and Finisterra features 356 units. The low-density, garden-style properties offer a diverse mix of unit sizes and a variety of amenities. Kennedy Wilson has approximately 14 percent interest in a commingled fund that acquired the two properties and serves as asset manager. The two acquisitions contribute to Kennedy Wilson’s growing multifamily portfolio with ownership interest in nearly 40,000 units.

July 1, 2025

Acquisitions California Development Multifamily Western

CGI+ Sells Shovel-Ready Multifamily Development Site in Torrance, California for $40M

by Amy Works July 1, 2025

LOS ANGELES — CGI+, a Los Angeles-based multifamily investment firm, has completed the disposition of a shovel-ready, 4.9-acre development site in Torrance to JPI for $40 million. The property is entitled for a six-story, 525-unit residential building, with 34 units reserved for residents earning less than 30 percent of the area median income. Designed by AC Martin, the planned development will offer floor plans ranging from studio to three-bedroom apartments. Residences will be connected by a series of walking paths leading to four distinct and separate micro-environments offering amenities including outdoor workspaces, barbecue and dining areas, a spa, children’s playground, pet park and fire pits. A 28,000-square-foot aerial central park on top of the project’s eight-story garage will offer 360-degree views from the Pacific Ocean to downtown Los Angeles. The rooftop park will feature a resort-style pool, coffee shop, clubhouse, indoor/outdoor gym, pickleball court and outdoor lounge spaces. Chris Gomez-Ortigoza and Tim Barden of Land Advisors Organization marketed the fully entitled development site on behalf of CGI+.

July 1, 2025

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