AUSTIN, TEXAS — Muskin Commercial LLC has arranged the sale of Palo Santo Apartments, a 72-unit community located in north central Austin. Units at the property feature hardwood-style flooring and upgraded appliances, and amenities include a pool and onsite laundry facilities. Muskin Commercial represented the seller, AL Rundberg Apartments LLC, in the transaction. James Young of Newmark Knight Frank represented the buyer, 1809 West Rundberg Lane LP.
ELK GROVE VILLAGE, ILL. — Dayton Street Partners has acquired two industrial properties in Elk Grove Village. Seller information and purchase prices were not disclosed. The first warehouse, 2454 Elmhurst Road, was built in 1982. Situated on 1.3 acres, the 16,473-square-foot property features 4,900 square feet of office space, five exterior docks and two drive-in doors. It is fully leased to Crown Roll Leaf and Associated Builders and Contractors. The second building, 2500 York Road, spans 55,356 square feet and sits on 3.3 acres. It features two interior docks and three drive-in doors. Dayton Street plans to update painting and lighting. Chicago-based Dayton Street is a commercial real estate investment and development firm focused on industrial properties.
LITTLETON, COLO. — LaSalle Investment Management (LIM) has acquired Parc Santa Fe, an industrial development located on 22 acres along South Santa Fe Drive in Littleton. Jackson-Shaw, LaPour Partners and Stream Realty Partners sold the asset for an undisclosed price. Totaling 345,126 square feet, the three-building property features 24-foot and 28-foot clear heights, gated outside storage and car parking, ample dock doors and abundant power. The development consists of an 85,903-square-foot building, a 169,590-square-foot facility and a 89,633-square-foot building. Delivered in September 2019, the project represented the first new industrial development in the area since 1997. At the time of sale, the asset was 62 percent leased. Tyler Reed, Peter Beugg and Dominic DiOrio of Stream Realty, along with Bo Mills of JLL’s Los Angeles office, handled the acquisition. Stream Realty will continue to handle leasing and management of Parc Santa Fe on behalf of LIM, with Reed, Beugg and DiOrio leading leasing efforts and Tom Bahn leading property management.
CITY OF INDUSTRY, CALIF. — CBRE has arranged the sale of a single-tenant industrial property in City of Industry. A client of BentallGreenOak, a global real estate investment management firm, acquired the property for $61 million, or $265 per square foot. Cameron Merrill of CBRE represented the seller, 300 Baldwin Park LLC, a private owner, in the deal. Located at 300 N. Baldwin Park Blvd., the 230,247-square-foot property was completed in 2015. Jacmar Foodservice Distribution fully occupies the facility, which features 6 million cubic feet of multi-temperature storage with six different temperature zones, allowing for direct refrigerated and frozen receiving and loading.
BURBANK, CALIF. — Los Angeles-based SBH Real Estate Group has purchased a vacant, single-tenant retail building in Burbank for $3.6 million. Located at 1750 W. Olive Ave., the 5,324-square-foot building includes a grandfathered drive-thru. U.S. Bank formerly occupied the property, which was originally built in 1974. Lee Shapiro of Kennedy Wilson brokered the transaction.
MILFORD, MASS. — JLL Income Property Trust, an institutionally managed daily NAV REIT, has acquired Milford Crossing, a 160,000-square-foot shopping center located approximately 40 miles southwest of Boston, for $42 million. A Stop & Shop grocery store anchors the shopping center, which was 99 percent leased to restaurants, medical, fitness and service-oriented retailers at the time of sale. RD Management LLC was the seller.
NEW YORK CITY — Walker & Dunlop Inc. has acquired New York City-based capital markets advisory firm AKS Capital Partners. Aaron Appel, Keith Kurland, Jonathan Schwartz and Adam Schwartz, who lead the 15-person AKS team, will join Walker & Dunlop as senior managing directors and co-heads of the New York capital markets practice. The team will focus on sourcing and structuring financing for all commercial real estate asset classes nationally, as well as expanding Walker & Dunlop’s client base and capital markets capabilities. The sales price was undisclosed.
ANDOVER, MASS. — Newmark Knight Frank (NKF) has arranged the $26 million sale of 6 Technology Drive, a 128,400-square-foot industrial facility in Andover, located approximately 25 miles north of Boston. The building is fully leased to safety technology company Dräger Medical Systems as its North American headquarters. Edward Maher, Matthew Pullen and James Tribble led an NKF team that represented the seller, a partnership of Novaya Real Estate Ventures and Wheelock Street Capital. The buyer was undisclosed.
POWDER SPRINGS, GA. — Coro Realty has acquired Varner Crossing, an 80,466-square-foot retail center in Powder Springs. An undisclosed Chicago investor sold the property for $12.7 million. Kroger anchors the center, which was 98 percent leased at the time of sale to tenants including Subway, Marco’s Pizza and Macland Animal Hospital. Coro Realty also plans to pursue a ground lease or build-to-suit opportunity for a vacant outparcel included in the deal. The property is situated at 4150 Macland Road, 25 miles northwest of downtown Atlanta. Anthony Blanco of TSCG led the team that represented the seller in the transaction.
CENTREVILLE, VA. — Hines Global Income Trust Inc. has acquired The Emerson, a 355-unit apartment complex in Centreville. The property offers studio, one-, two- and three-bedroom floor plans averaging 925 square feet. Communal amenities include a game room, grilling stations, pool, outdoor TV and fire pit, cyber lounge and a fitness center. The community was delivered in the second quarter of 2019 and was 65 percent occupied at the time of sale. The Emerson is situated at 5865 Trinity Parkway, 25 miles west of downtown Washington, D.C. Further details of the sale were not disclosed.