Acquisitions

Cohen Asset Management Acquires 168,000 SF Desert Cove Industrial Center Near Phoenix

by Amy Works June 30, 2025

SURPRISE, ARIZ. — An affiliate of Cohen Asset Management has purchased Desert Cove Industrial Center, a Class A industrial property in Surprise, from Evergreen Development for $36.3 million. Delivered in June 2024 by the seller, the freestanding single-tenant building is fully leased to BP Lubricants USA Inc., doing business as Castrol Oil. Situated on 9.4 acres at 11301 N. Litchfield Road, Desert Cove Industrial Center offers 168,000 square feet, multiple access points, functional column spacing, ample parking for trailer and auto and substantial power supply. Will Strong, Molly Hunt, Michael Matchett, Jack Stamets and Madeline Warren of Cushman & Wakefield’s National Industrial Advisory Group – Mountain West represented the seller in the deal. Brian Share and Garrett Stasand of Cushman & Wakefield Equity, Debt & Structured Finance team advised on the acquisition financing. John Werstler, Cooper Fratt and Tanner Ferrandi of CBRE provided market leasing advisory services.

June 30, 2025

Acquisitions Montana Multifamily Western

Brinkman Real Estate Buys 180-Unit Apartment Community in Kalispell, Montana

by Amy Works June 30, 2025

KALISPELL, MONT. — Brinkman Real Estate has acquired The Meridian Apartments, a Class A multifamily property in Kalispell. Terms of the transaction were not disclosed. The company’s capital markets team, in partnership with Greystone’s debt team led by Tim Wright, executed a Fannie Mae loan assumption and simultaneously closed on a supplemental loan. Built in 2023, The Meridian offers 180 studio, one- and two-bedroom apartments with quartz countertops, stainless steel appliances and vinyl plank flooring and keyless entry. Community amenities include a basketball court, an outdoor grill and picnic area, a dog park and onsite leasing and maintenance. Brinkman plans to implement an improvement program including the addition of in-unit laundry facilities, fencing for first-floor studios and upgrades to the dog park and shared outdoor areas. Entrust Property Solutions will provide operational management services for the property.

June 30, 2025

Acquisitions Retail Texas

Whitestone REIT Acquires 86,907 SF Shopping Center in Southwest Fort Worth

by Taylor Williams June 30, 2025

FORT WORTH, TEXAS — Houston-based Whitestone REIT (NYSE: WSR) has acquired 5000 South Hulen, an 86,907-square-foot shopping center in southwest Fort Worth. Built in 2005, the center is adjacent to Hulen Mall and was 96 percent leased at the time of sale to tenants such as Sephora, Old Navy, Barnes & Noble, Potbelly, Sports Clips, Kincaid’s Hamburgers and Jamba Juice. Chris Gerard, Adam Howells and Erin Lazarus of JLL represented the seller, a partnership between Trademark Property Co. and Alto Real Estate Fund, in the transaction.

June 30, 2025

Acquisitions California Office Western

Marcus & Millichap Brokers Sale of 31,701 SF Multi-Tenant Office Building in San Jose, California

by Amy Works June 30, 2025

SAN JOSE, CALIF. — Marcus & Millichap has arranged the sale of 1054 South De Anza Boulevard, a three-story multi-tenant office property in San Jose. The asset sold for $9.7 million. Yuri Sergunin, Vince Schwab and J.J. Taughinbaugh of Marcus & Millichap represented the undisclosed seller, while Simon Chen of Buffalo RE represented the undisclosed buyer in the deal. Constructed in 1985 on 1.2 acres, the 31,701-square-foot property features an atrium, elevator access and ample parking. At the time of sale, the building was 75 percent occupied.

June 30, 2025

Acquisitions Michigan Midwest Retail

Milestone Real Estate Arranges Sale of 140,199 SF Retail Center in Dearborn, Michigan

by Kristin Harlow June 30, 2025

DEARBORN, MICH. — Milestone Real Estate Co., a residential real estate brokerage firm established in 2011, has expanded into the commercial real estate sector and closed more than 324,500 square feet in transactions throughout Dearborn and the Downriver area. Ali Haidar of Milestone brokered the sale of Fairlane North Shopping Center, a 140,199-square-foot property situated on 11.4 acres at 5901 Mercury Drive in Dearborn. SamKin LLC sold the asset to Mercury Ventures LLC for an undisclosed price.

June 30, 2025

Acquisitions Net Lease Northeast Pennsylvania Retail

CBRE Brokers $12.2M Sale of Net-Leased Retail Building in Jamison, Pennsylvania

by Taylor Williams June 30, 2025

JAMISON, PA. — CBRE has brokered the $12.2 million sale of a 25,000-square-foot retail building in Jamison, a northern suburb of Philadelphia, that is net leased to convenience store operator Wawa and Tractor Supply. ExchangeRight, a Southern California-based investment firm that specializes in net-lease, 1031 and Delaware Statutory Trust deals, purchased the asset from New Jersey-based ARCTRUST. Matthew Gorman and Michael Shover of CBRE brokered the deal.

June 30, 2025

Acquisitions Connecticut Industrial Northeast

Angel Commercial Negotiates $4.8M Sale of Two Industrial Buildings in Bridgeport, Connecticut

by Taylor Williams June 30, 2025

BRIDGEPORT, CONN. — Locally based brokerage firm Angel Commercial has negotiated the $4.8 million sale of two industrial buildings in the southern coastal Connecticut city of Bridgeport. The first building is an 87,778-square-foot multi-tenant structure that is anchored by Beacon Roofing Supply. The second building is an 11,728-square-foot facility that was formerly owned and occupied by New England Heating Parts Co. Jon Angel of Angel Commercial brokered both sales. The buyers and sellers were not disclosed.

June 30, 2025

Acquisitions Florida Loans Multifamily Southeast

Berkadia Arranges $44.6M Sale, Financing of Multifamily Community in Jacksonville, Florida

by Abby Cox June 27, 2025

JACKSONVILLE, FLA. — Berkadia has arranged the $44.6 million sale of Addison Landing, a 289-unit, garden-style multifamily community located in Jacksonville. Greg Rainey of Berkadia represented the seller, Florida-based WRH Realty, in the transaction. The buyer was Tampa, Florida-based Argyle Real Estate Capital. Matt Robbins, Mitch Sinberg, Brad Williamson, Scott Wadler and Hugo Hernandez of Berkadia also secured $31.3 million in financing through a Freddie Mac loan for the acquisition. The 10-year floating loan features interest-only payments for seven years. Built in 2007 on a 19-acre site, Addison Landing comprises 34 two- and three-story buildings. Floorplans at the property include one-, two-, three- and four-bedroom units totaling up to 1,425 square feet, according to Apartments.com. Select units also offer private, fenced yards, vaulted ceilings and lake views. Amenities at the community include a swimming pool, sun deck, outdoor kitchen and poolside lounge, clubhouse with a fitness center, billiards room, business center, playground, dog park, pet stations, package locker system and detached garages. The revious ownership invested $4.6 million in community enhancements.

June 27, 2025

Acquisitions Industrial Texas

Oxford Partners Negotiates Sale of 22,813 SF Industrial Building in Northwest Houston

by Taylor Williams June 27, 2025

HOUSTON — Locally based brokerage firm Oxford Partners has negotiated the sale of a 22,813-square-foot industrial building in northwest Houston. According to LoopNet Inc., the single-tenant building at 11407 Charles Road was originally constructed in 1997 and renovated in 2015. Perry Mazzone and Ryan Hartsell of Oxford Partners represented the buyer, an entity doing business as Illinois 3 Properties LLC, in the transaction. Andrew Laycock of Partners Real Estate represented the undisclosed seller.

June 27, 2025

Acquisitions Restaurant Retail Texas

Hanley Investment Group Arranges Sale-Leaseback of Restaurant Building in Alice, Texas

by Taylor Williams June 27, 2025

ALICE, TEXAS — California-based brokerage firm Hanley Investment Group has arranged the sale-leaseback of a 2,608-square-foot restaurant building in Alice, about 50 miles east of Corpus Christi, that is net leased to Dairy Queen. The building was originally constructed in 1983 and renovated in 2015. Garrett Wood of Hanley represented the seller, R&L Lozano Leasing (dba F&P Development), in the transaction. David Bynum of Bynum Inc. represented the buyer, a California-based private investor.

June 27, 2025

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