WAXAHACHIE, TEXAS — SRS Real Estate Partners has brokered the sale of North Grove Cetner I and II, a 20,141-square-foot office and retail complex in the southern Dallas suburb of Waxahachie. The property consists of a 15,641-square-foot retail and office property that is fully leased to 11 tenants, as well as a 4,500-square-foot, single-tenant structure that is occupied by Fish City Grill. Michael Kaplan, Matthew Mousavi and Patrick Luther of SRS represented the seller, a Texas-based family office, in the transaction. The buyer was also a Texas-based family office that acquired the property in an off-market deal.
ATLANTA — CP Group has purchased Piedmont Center, a 2.2 million-square-foot office campus located off Piedmont Road in Atlanta’s Buckhead district. The Boca Raton, Fla.-based investor and landlord acquired the 14-building campus in an all-cash transaction. The Atlanta Business Chronicle reports that CP Group purchased the 46-acre office park at a foreclosure auction in partnership with Austrian bank Bawag Group for $200 million. The news outlet reported that former owner, Ardent Cos., defaulted on its loan tied to Piedmont Center from Morgan Stanley. The previous owner announced unfulfilled plans in 2023 to develop a concentration of food-and-beverage offerings at Piedmont Center dubbed Oxton, named after the “O” and “X” shape of two of the office buildings on the campus. CP Group plans to offer more food-and-beverage options at Piedmont Center, as well as expand amenities including conference facilities, fitness centers, lobbies and outdoor common areas. The firm also plans to install its suite of high-end speculative suites branded “worCPlaces” at the campus.
HIGH POINT, N.C. — FrostPoint Capital, a privately held real estate investment and management firm based in West Palm Beach, Fla., has purchased a 33,455-square-foot retail center in High Point, a city in North Carolina’s Triad region. Berkeley Capital Advisors brokered the transaction. The seller and sales price were not disclosed. The unanchored shopping center is located at 1800 N. Main St., about a mile west of High Point University. The property’s tenant roster includes Company’s Coming, 98 Asian Bistro, Tea Time Boba Tea Lounge, Hair Kutts Salon, Still Waters Spa, TL Fitness and Q’s Corner. FrostPoint Capital is planning an extensive redevelopment that will pay tribute to the site’s former occupant, Lyles Chevrolet. This transaction marks FrostPoint Capital’s 14th acquisition in the Southeast and first in North Carolina.
WOODINVILLE, WASH. — Marcus & Millichap has arranged the sale of The Junction, an industrial facility in Woodinville. A limited liability company sold the asset to an undisclosed buyer for $10.5 million. Located at 19151 144th Ave. NE, the 31,000-square-foot The Junction is 93 percent leased to a variety of tenants, including fast food, auto care and tasting rooms. John Marks and RJ Vara of Marcus & Millichap’s Seattle office represented the seller in the deal.
BURLINGTON, MASS. — Newmark has brokered the sale of Burlington BioCenter, a 109,085-square-foot life sciences building located on the northwestern outskirts of Boston. Originally completed in 2019 with its interior laboratory build-outs finalized in 2022, the building features high-performance laboratory infrastructure and HVAC systems, a backup power source and dedicated loading areas, as well as a two-story lobby. Robert Griffin, Edward Maher, Matthew Pullen, James Tribble, Samantha Hallowell and William Sleeper of Newmark brokered the deal. The buyer and seller were not disclosed.
ARLINGTON HEIGHTS, ILL. — Marcus & Millichap has negotiated the $13 million sale of a 111,667-square-foot flex industrial property in the Chicago suburb of Arlington Heights. Built in 1990, the facility at 545 E. Algonquin Road is fully leased to two long-term tenants. Intertek Testing Services, a global product testing and certification firm, occupies 85 percent of the space and has been a tenant since 2004. GigeNET, a provider of dedicated cloud, hybrid and colocation hosting solutions, occupies the remaining space and has operated at the facility since 2006. Peter Doughty of Marcus & Millichap represented the seller, a private investor. The undisclosed buyer purchased the property at the full list price.
DETROIT — Friedman Real Estate has brokered the $3.9 million sale of the former First Independence Bank building located at 100 Michigan Ave. in Detroit. The retail building totals 20,756 square feet. Andrew Bower, Steve Eisenshtadt and Peter Jankowski of Friedman represented the seller. Buyer and seller information was not released.
SEAFORD, DEL. — SVN | Miller Commercial Real Estate has negotiated the $4.2 million sale of a 61,900-square-foot industrial building located in Seaford, a city in central Delaware. The new owner is leasing the space at 6063 Whitehurst Drive to its affiliated company, fencing manufacturer Patriot Aluminum. The McClellan Team at SVN | Miller represented the seller in the transaction, and the firm’s Flo Brotzman represented the buyer, an entity doing business as MKJ Properties LLC.
THE WOODLANDS, TEXAS — JLL has arranged the sale of a 202,601-square-foot office building located at 10101 Woodloch Forest Drive in The Woodlands, about 30 miles north of Houston. The eight-story building was completed in 2009 and was vacant at the time of sale. Kevin McConn and Jeff Hollinden of JLL represented the seller, Net Lease Office Properties, in the transaction. The buyer was Howard Hughes Holdings Inc. (NYSE: HHH). The sales price was not disclosed.
MIDLOTHIAN, TEXAS — SRS Real Estate Partners has brokered the sale of Shops on Main, a 10,238-square-foot retail strip center located in the southern Dallas suburb of Midlothian. The center was built on 1.7 acres in 2023 and was fully leased at the time of sale to tenants such as Boba Tea and Coco Nail Bar. Michael Kaplan, Matthew Mousavi and Patrick Luther of SRS represented the seller, a Texas-based family office, in the transaction. The buyer was a Dallas-based 1031 exchange investor. Both parties requested anonymity.