NAMPA, IDAHO — Watchman Properties has acquired The Storage Co., a self-storage asset located in Nampa, approximately 20 miles west of Boise. A local family sold the property for an undisclosed price. Totaling 95,962 square feet, the self-storage facility features 555 rentable spaces, 408 drive-up, enclosed storage units and 147 outdoor parking spaces. The property also includes 4.5 acres of undeveloped land. Originally developed in 1957 for agricultural use, the asset was converted to self-storage space in 1995. The fully fenced and gated facility features keypad access and 24-hour video surveillance with off-site monitoring. Jordan Farrer and Adam Schlosser of The LeClaire Group of Marcus & Millichap represented the seller, while Andrew Helm, also of The LeClaire Group, procured the buyer in the transaction.
FOUNTAIN, COLO. — CBRE has arranged the sale of E Shops at Mesa Ridge, a retail center located at 6825 Mesa Ridge Parkway in Fountain. A Los Angeles-based private real estate fund sold the asset to a private discretionary investor for $4.1 million. Built in 2013, the 9,380-square-foot property features five tenant spaces. At the time of sale, the property was fully occupied by Noodles & Co., Sprint, Jersey Mike’s, Sports Clips and H&R Block. Parker Brown, Matthew Henrichs and Brad Lyons of CBRE Capital Markets, National Retail Partners, represented the seller in the deal.
ODESSA, TEXAS — Florida-based investment firm Advenir LLC has acquired Advenir at Legado Ranch, a 360-unit apartment community located in the West Texas city of Odessa. Built in 2018, the property offers one- and two-bedroom units averaging 908 square feet per unit and offering granite countertops, hardwood floors, walk-in closets, in-unit washers and dryers and patios. Amenities include a pool, clubhouse, media center, fitness center and a dog park. Eric Tupler, Josh Simon and Matthew Putterman of JLL originated an undisclosed amount of Freddie Mac fixed-rate acquisition financing for the deal. The property was more than 91 percent occupied at the time of the loan closing.
AUSTIN, TEXAS — Avison Young has brokered the sale of a 270,000-square-foot commercial portfolio in Austin. The portfolio consists of 618 Tillery Street, an office building currently under construction; 507 Calles Street, a former warehouse that has been converted into office space; and 1300 East 5th Street, a warehouse building also slated for redevelopment. Corey Martin, Andrew Alizzi and Jason Hellberg of Avison Young handled the transaction on behalf of the buyer, CIM Group. The seller was Peter Barlin, a local investor.
OCALA, FLA. — Avison Young’s Florida Capital Markets Group has negotiated the sale-leaseback of the approximately 1.9 million-square-foot Transformco Distribution Center located at 655 S.W. 52nd Ave. in Ocala. HFZ-Reich, a partnership between HFZ Capital Group and Reich Brothers, purchased the asset for $70 million. Michael Fay, Jay Ziv, John Crotty, David Duckworth, Brian de la Fé, Berkley Bloodworth and Emily Brais of Avison Young negotiated the sale on behalf of the seller and tenant, Transform Holdco (Transformco). With the sale-leaseback agreement, Transformco continues to occupy the property to operate its main distribution center supporting Sears, Kmart and Hometown stores in the Southeast United States. The 10-year lease agreement includes a 10-year renewal option for Transformco. In conjunction with the sale of 126,336-square-foot Sears store at 9409 U.S. Highway 19 in Port Richey, Fla., the Transformco deal marks $300 million in sales for Avison Young’s Florida Capital Markets Group in the past two months.
TYSONS, VA. — Newmark Knight Frank (NKF) has negotiated the $60.2 million sale of a 12-acre eastern parcel within the Dominion Square mixed-use development in Tysons, situated 13 miles west of downtown Washington, D.C. Capital Automotive Real Estate Services Inc., a McLean, Va.-based financial holding company specializing in car dealership locations, sold the parcel to an undisclosed buyer, whom the Washington Business Journal indicates is LHL Dominion Square, possibly an affiliate of New York-based Algin Management Co. LLC. The Dominion Square site is approved for 2 million square feet of office, residential, hotel and retail space near the Greensboro Metro station in Tysons. Jud Ryan, James Cassidy, Mark Anstine and Dan Lockard of NKF represented Capital Automotive in the transaction.
CLARKSVILLE, TENN. — Berkadia has brokered the sale of Waterford Landings, a 364-unit multifamily property in Clarksville, approximately 50 miles northwest of Nashville. Texas-based apartment management company WAK Management Co. purchased the asset for $46.5 million. Berkadia represented the Arizona-based developer and seller, Stoneleigh Cos., in the deal. Located at 135 Westfield Court, the property features studio, one-, two- and three-bedroom floor plans. Amenities include two swimming pools, laundry facilities and a barbecue area. The property is near Interstate 24 and Route 79, as well as the recently opened LG plant and Google data center. Patrick Jordan of Berkadia’s Memphis office, along with Alex Blagojevich of the firm’s Chicago office, completed the sale.
HOUSTON — Keener Investments has acquired two multifamily assets totaling 378 units in North Houston. Both the 266-unit Mira Bella Apartments and the 112-unit San Martin Apartments were built in 1982 and offer amenities such as pools and fitness centers. Mira Bella also features a playground, and San Martin features a business center. The new ownership will implement a value-add program and manage the properties moving forward.
TEMPLE, TEXAS — Steele Properties, a Denver-based investment firm specializing in affordable housing, has purchased Wayman Manor, a 160-unit Section 8 affordable housing complex located in the central Texas city of Temple. Steele Properties will implement a capital improvement program that will upgrade roofs, HVAC systems and both indoor and outdoor amenity spaces. Monroe Group Ltd., Steele’s sister company, will oversee property management. Wayman Manor was built in 1971.
WARRINGTON, PA. — LCS Real Estate has acquired The Solana Doylestown, a 98-unit seniors housing community in Warrington, located approximately 20 miles north of Philadelphia. LCS Real Estate brokered the transaction, and Life Care Services will provide management services; both are LCS companies. The community opened in 2016 and has a total of 70 personal care apartments and 28 memory care residences. Financial details and the name of the seller were not disclosed.