GYPSUM, COLO. — The Boulder Group had arranged the $1.7 million sale of a single-tenant retail building located at 770 Red Table Drive in Gypsum. A Colorado-based private investor sold the property, which is occupied by Family Dollar, to a Colorado-based 1031 exchange investor in an all-cash transaction. Zach Wright and Brandon Wright of The Boulder Group represented the seller in the deal.
COLUMBUS, MISS. — Matthews has arranged the sale of a 76,269-square-foot Kroger grocery store located at 1829 U.S. Highway 45 N in Columbus, about 26 miles east of Starkville, Miss. The seller, an entity doing business as MS Columbus 45 LLC, sold the store to an undisclosed, publicly traded investment firm. Kyle Stonis, Pierce Mayson and Boris Shilkrot of Matthews represented the seller in the transaction. The sales price was not disclosed. Prior to the sale, Kroger committed to an early lease extension through 2041 with plans for a future expansion. The acquisition did not include adjacent inline retail shop space, which is currently under contract with a separate, privately held buyer.
CHICAGO — Glenstar, in a joint venture with a high-net-worth private investor, has acquired 500 W. Monroe, a 966,924-square-foot office tower in Chicago with a 1,300-stall parking garage. The sales price for the all-cash purchase was not disclosed, but Crain’s Chicago Business reports that the asset traded for 76 percent less than it did prior to the COVID-19 pandemic. Glenstar will soon launch a hospitality-driven renovation at the property. Plans call for a full lobby transformation followed by additional common area upgrades and the introduction of new amenities. Glenstar plans to introduce Glenstar Connect, its signature app-based tenant engagement program, at the property in the coming months. Built in 1992, 500 W. Monroe rises 44 stories and is located steps from the Union and Ogilvie train stations. According to Glenstar, the property currently offers the largest contiguous block of space available in the West Loop at 572,000 square feet. With the acquisition, Glenstar also assumes the asset and property manager role and has tapped CBRE’s Jason Houze, Greg Tait and Aaron Schuster to oversee leasing.
CARSON, CALIF. — BKM Capital Partners has purchased Carson Industrial Center, an industrial campus situated on more than 20 acres in Los Angeles’ South Bay submarket, from a global investment advisor for $95 million. The 11-building campus offers 429,000 square feet of multi-tenant industrial space divided into 20 units with an average unit size of 21,000 square feet. Additionally, the campus features a combined 79 dock-high and grade-level doors, 14- to 21-foot clear heights and parking for 651 vehicles. At the time of sale, the property was 73 percent leased to tenants in sectors such as manufacturing, freight logistics, signal and connectivity solutions, luxury handbag distribution and novelty top importers. Each of the single-story buildings sites on its own parcel, and five are freestanding with private yards and frontage along Del Amp Boulevard. BKM has allocated more than $6 million to reposition and modernize the property. Planned improvements include reconfiguration and upgrading of vacant units while also addressing exterior deferred maintenance and introducing new signage and landscaping across the campus. Brett Turner and Michael Grossner provided in-house representation for BKM while Cushman & Wakefield represented the seller in the deal.
PHOENIX — Scottsdale, Ariz.-based Alliance Residential has sold Broadstone Seventh Street, a 258-unit multifamily property in north central Phoenix, to a leading global investor for an undisclosed price. Asher Gunter, Matt Pesch and Austin Groen of CBRE represented the seller in the transaction. Completed in 2024, Broadstone Seventh Street features studio, one- and two-bedroom floor plans with 9- and 10-foot ceilings, wood-style flooring, in-unit washers and dryers, quartz countertops, illuminated vanity mirrors and SmartRent Home technology. Community amenities include a residential clubhouse with an kitchen and billiards, a two-story fitness center, a resort-style pool and spa with private cabanas, barbecue grills and an outdoor ramada.
EVERETT, WASH. — Jackson Square Properties has sold Latitude, a 108-unit multifamily property in Everett’s Lake Stickney neighborhood, to Bridge Housing for approximately $25.4 million. Developed in 1986 on 4 acres, the property features one- and two-bedroom apartments spread across six residential buildings and a standalone clubhouse. Community amenities include a courtyard with a barbecue area and firepit, fitness center and a fenced-in dog park. Giovanni Napoli, Philip Assouad, Ryan Harmon, Nick Ruggiero and Anthony Palladino of Institutional Property Advisors, a division of Marcus & Millichap, represented the San Francisco-based seller and procured the buyer, also based in San Francisco.
NEW YORK CITY — Marcus & Millichap has brokered the $9.4 million sale of a commercial development site in Queens. The site at 28-04 41st Ave. is located in the borough’s Long Island City neighborhood and can support 25,000 to 30,000 buildable square feet of residential, commercial or mixed-use development. Sean Fopeano, Shaun Riney, Joe Koicim and David Cornejo of Marcus & Millichap represented the seller, an undisclosed private family, in the transaction and procured the buyer, Jade Century Properties.
SHOREVIEW, MINN. — JLL Capital Markets has brokered the $18.5 million sale of The Lex, a 124,925-square-foot office building in the Twin Cities suburb of Shoreview. Renovated in 2023, The Lex rises four stories. Managed by Eagle Ridge Partners, the property is currently 95 percent leased to a variety of tenants in the financial services, healthcare and technology industries. The Lex is positioned within the Shoreview Corporate Center, a mixed-use redevelopment that is home to three luxury apartment communities and two additional office properties. Colin Ryan and David Berglund of JLL represented the seller, Shoreview Ridge Office LLC. The buyer was not disclosed.
BEAVERCREEK, OHIO — CBRE has arranged the $12.5 million sale of a two-building, 142,400-square-foot industrial portfolio in Beavercreek near Cincinnati. CBRE’s Steve Timmel and Will Roberts represented the sellers, 2060 Heller LLC and 2070 Heller LLC. The buildings, located at 2060 and 2070 Heller Drive, are fully leased to an aerospace manufacturer. Each property includes a mix of office and production space designed to support specialized aerospace manufacturing and research functions.
FOREST PARK, ILL. — Greenstone Partners has negotiated the $8.4 million sale of Circle Plaza, a fully occupied, multi-tenant retail center in Forest Park. Brewster Hague and Connor Sheedy of Greenstone brokered the sale. Circle Plaza totals 18,486 square feet and is home to Dunkin’, Pep Boys, Bloc Dispensary, HEAL Wellness and Sploot Veterinary Care. Originally developed in 1984, the property has mostly maintained 100 percent occupancy throughout its history. Buyer and seller information was not provided.