MOUNT PLEASANT, S.C. — A joint venture between Procaccianti Cos. and Rugger Capital has acquired Charleston Harbor Resort, a 217-room hotel on Cooper River and Charleston Harbor in Mount Pleasant. The new ownership has tapped TPG Hotels & Resorts to operate the property and is considering a value-add program to boost revenue at the waterfront hotel. Additionally, Suntex Marina Investors purchased the adjacent Charleston Harbor Marina, which has more than 450 slips that can accommodate vessels ranging from recreational cruisers to superyachts. Suntex will operate the marina separately from Charleston Harbor Resort. Cincinnati-based American Financial Group sold both properties for a combined $182.5 million, according to The Post and Courier.
Acquisitions
IRVINE, CALIF. — Semiconductor and infrastructure software company Broadcom Inc. (NASDAQ: AVGO) has completed the acquisition of its Southern California campus located in Irvine for $325 million. Washington, D.C.-based PRP Real Assets was the seller. Developed in 2017 and 2018, the campus was built as the corporate headquarters for Broadcom, which occupies the property on a net-lease basis. PRP Real Assets has owned the campus since 2020. Situated within the Irvine Spectrum District, the Broadcom Corporate Campus totals 660,893 square feet and features two five-story office buildings. Gensler designed the 9.6-acre campus, which also features nearly 3,000 parking spaces. According to PRP Real Assets, the property benefits from its location near retail, dining, hotels and public transportation, with the latter including the Irvine Station. “Broadcom’s decision to acquire the campus underscores the property’s importance to the company’s operations and validates the principles behind our mission-critical net lease strategy,” says Paul Dougherty, president of PRP Real Assets. “The campus combines a high-quality asset, a strong tenant and an irreplaceable location in one of the nation’s leading technology markets.” PRP Real Assets is a privately held real estate investment and management company. Founded in 2005, the firm has acquired more than $6 …
VICTORIA, TEXAS — Marcus & Millichap has brokered the sale of Dollar Tree Plaza, a 30,800-square-foot retail strip center in Victoria, about 85 miles north of Corpus Christi. Built on 3.3 acres in 2013, the two-building center was fully leased at the time of sale to tenants such as Dollar Tree, Anytime Fitness, Domino’s, Metro by T-Mobile and Freeway Insurance. Philip Levy of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
Atlantic Capital Brokers $48.2M Sale of Publix-Anchored Shopping Center in Columbus, Georgia
by John Nelson
COLUMBUS, GA. — Atlantic Capital Partners has brokered the $48.2 million sale of Cross Country Plaza, a 304,735-square-foot shopping center located in Columbus. Anchored by Publix since 2011, the property was 95 percent leased at the time of sale to tenants including T.J. Maxx, Burlington and 2nd & Charles. Fred Victor of Atlantic Capital represented the seller, Richmond-based Hackney Real Estate Partners, in the transaction. The buyer, Brasswater Inc., a real estate investment firm based in Montreal, has retained Kathy Ward and Shelley Jordan Bell of Atlantic Capital to lease Cross Country Plaza, according to a Facebook post made by the company.
RALEIGH, N.C. — Frankie Lemmon School and Foundation has acquired two office buildings located at 4401 and 4501 Atlantic Ave. in Raleigh. The 114,781-square-foot campus will serve as the nonprofit’s future home and will house the Frankie Lemmon School and Lemmon Tree Academy. The campus will include purpose-built classrooms, therapy rooms, sensory spaces, family support areas and community gathering spaces, with the capacity to serve 230 students. The organization plans to begin construction on its new Raleigh home next year and open its preschool and grade school in 2028. Clayton Collins, Chandler Hawkins and Harrison Benson of CBRE represented Frankie Lemmon School and Foundation in the acquisition. Jane Doggett and Patrick Blackley of Foundry Commercial represented the undisclosed seller.
BALTIMORE — Marcus & Millichap has arranged the nearly $10 million sale of a single-tenant manufacturing facility located at 6901 Rolling Mill Road in Baltimore. Dejana Truck & Utility Equipment has occupied the facility for the past 21 years. Built in 1967 near the Port of Baltimore, the 6.4-acre property features a 75,000-square-foot facility with warehouse space, 6,730 square feet of offices and two acres of industrial outdoor storage. The facility features 20-foot clear heights, 110 parking spaces, six drive-in doors and four loading docks. Bryn Merrey and John Faus of Marcus & Millichap represented the seller, a Maryland-based private investment company in the transaction, and procured the buyer, a New York-based, institutionally backed investment fund. Both parties requested anonymity.
ANAHEIM, CALIF. — MBK Rental Living and development partner Haseko Corp. have sold Zia, a 315-unit multifamily community in Anaheim that opened in September 2024. The buyer was an unnamed institutional investor. Zia is a five-story community with studios and one-, two- and three-bedroom residences along with a 24-hour fitness center, pool with grill and bar areas, a dog park and spa, coworking spaces that include conference rooms, courtyards and a game lounge with a race car simulator.
MESA, ARIZ. — Evergreen Development has acquired 11.7 acres of land in Mesa, with plans to build a mixed-use project that will feature multifamily space and a new retail center. The retail portion of the site is planned to comprise an approximately 8,500-square-foot multi-tenant retail building for restaurant and retail uses, as well as a 2,360-square-foot freestanding Chipotle with a drive thru. The multifamily portion will include 261 apartments across nine three-story buildings. Evergreen plans to break ground on the project in the first quarter of 2027, with lease-up beginning in the second quarter of 2028. Brookfield sold the site for an undisclosed price.
Marcus & Millichap Arranges Sale of 516-Unit Self-Storage Facility in Windsor, Colorado
by Amy Works
WINDSOR, COLO. — Marcus & Millichap has brokered the sale of Falcon Point Self Storage, a self-storage facility in Windsor. Terms of the transaction were not released. Adam Schlosser, Dave Knobler and Charles “Chico” LeClaire of the LeClaire-Schlosser Group of Marcus & Millichap represented the undisclosed seller in the transaction. Originally constructed in 2019 and expanded in 2024 with an additional 51,530 square feet, Falcon Point Self Storage features 516 storage units across 72,068 net rentable square feet. There are 14 single-story, all-metal buildings on approximately 6.8 acres. The unit mix includes climate-controlled units, traditional drive-up access and dedicated vehicle storage, with 100 surface parking spaces serving the site. The facility features LED lighting, gated entry with digital keypad access, 24/7 video surveillance and an onsite management office.
INDIANAPOLIS — Colliers has arranged the sale of the Indianapolis West Infill Industrial Portfolio, a 1.5 million-square-foot, 29-building light industrial portfolio located within the Park 100 and Park Fletcher industrial parks in Indianapolis. The portfolio spans the city’s Northwest and Southwest submarkets. Alex Cantu, Alex Davenport, Jeff Devine, Steve Disse, Tyler Ziebel, Tyler Wilson, Jason Speckman and Sydney Gabriel of Colliers represented the undisclosed seller. MLG Capital, on behalf of MLG Legacy Fund and 1031 exchange investors, purchased the portfolio, which is 94 percent leased to 158 tenants. The properties feature an average clear height of 15 feet with a total of 194 dock doors and 155 drive-in doors. The buildings range in size from 16,000 to 157,000 square feet.