PHOENIX — Stos Partners has purchased an infill industrial warehouse, located at 1746-1748 W. Fillmore St. in Phoenix, from a private seller for $2.9 million. The 20,850-square-foot property features 20-foot clear heights, secured yard space and flexible layouts suitable for one or two tenants. Additionally, the asset offers dual options, with two grade-level and two dock-high doors. Stos Partners plans to implement a capital improvements program that includes roof repairs, parking lot resurfacing, HVAC system upgrades, drought-tolerant landscaping, approximately 2,000 square feet of new speculative office space and comprehensive exterior and interior modernizations, including interior and exterior paint and lighting upgrades. Chris Reese of Colliers represented Stos Partners, while Jim Wilson and Garrett Wilson of Cushman & Wakefield represented the seller in the off-market transaction.
Acquisitions
CHICAGO — The Boulder Group has brokered the $2.6 million sale of a single-tenant restaurant property occupied by Chipotle at 2935 W. Peterson Ave. in Chicago. The 2,160-square-foot building is situated near The Home Depot, Mather High School and Lincoln Village Shopping Center. Randy Blankstein and Jimmy Goodman of Boulder Group represented the seller, a Midwest-based real estate investor, and the buyer, a Southwest-based real estate investment fund. Chipotle has a 20-year lease at the property.
LAKE GENEVA, WIS. — The Barry Co. has arranged the sale of a 14,918-square-foot industrial building located off Highway 12 in Lake Geneva. The facility sits on the historic site of the former Sheridan Springs Bottling Works, known for its natural spring. Stout Development Group was the buyer. The site includes a detached 2,000-square-foot masonry garage.
SAN ANTONIO — Locally based investment firm Kairoi Residential has acquired The Jax, a 322-unit apartment community in northwest San Antonio. Built on 19 acres in 1997, The Jax offers one-, two- and three-bedroom units with an average size of 1,010 square feet. Amenities include a pool, clubhouse, fitness center, business center, dog park, playground and a package handling area. Private garages are available in select residences. Robert Arzola, Robert Wooten and Ryan McBride of JLL represented the undisclosed seller in the transaction.
HOUSTON — A partnership between Denver-based investment firm Sagard Real Estate and the Ontario Teachers’ Pension Plan Board has purchased 225 Crossing Logistics Center, a 163,402-square-foot industrial facility located at 310 Beltway Green Blvd. in Pasadena, an eastern suburb of Houston. According to LoopNet Inc., the rear-load building was completed in 2024 and features 32-foot clear heights, 18 dock doors, 135-foot truck court depths and 2,376 square feet of speculative office space. The seller and sales price were not disclosed.
Town Lane, Trinity Capital Purchase 440 South Church Office Building in Uptown Charlotte for $75.8M
by John Nelson
CHARLOTTE, N.C. — A partnership between New York-based Town Lane and locally based Trinity Capital Advisors has purchased 440 South Church, a 15-story office building located in Uptown Charlotte. The seller and purchase price were not disclosed, but Charlotte Business Journal reported that New York-based Epic Investment Partners sold the building for $75.8 million. Patrick Gildea and Matt Smith of CBRE represented the seller in the transaction. J.P. Cordeiro, Mike Ryan and Brian Linnihan of CBRE’s Debt & Structured Finance team arranged acquisition financing. Built in 2009 and lightly renovated in 2022, 440 South Church’s occupancy rate was 47 percent at the time of the sale. Town Lane and Trinity Capital, which is also the 388,657-square-foot tower’s original developer, plan to invest $20 million in capital improvements and renovations, including an overhauled lobby, new lounges, new street-level retail space, updated building systems and upgrades to the amenity level on the second floor. Tenants at 440 South Church include Driven Brands and HDR Engineering.
DURHAM, N.C. — Accesso has purchased 555 Mangum, a 251,464-square-foot office building located in downtown Durham. The developer and previous owner, Northwood Ravin, sold the Class A office building to Accesso for $72 million. Ryan Clutter, Mike McDonald, Daniel Flynn and C.J. Liuzzo of JLL brokered the sale. Built in 2020 adjacent to the Durham Bulls Athletic Stadium, 555 Mangum features an onsite parking garage comprising 812 spaces, a newly opened rooftop bar and restaurant called The Lenny, a fitness center with locker rooms, conference center and an outdoor courtyard. Tanium, a global cybersecurity firm, recently renewed and expanded its lease to 48,000 square feet at the building.
SOUTH BRUNSWICK, N.J. — San Francisco-based investment firm Terreno Realty Corp. has sold a 603,000-square-foot industrial property in South Brunswick, about 45 miles south of Manhattan, for $144.2 million. The property address was not disclosed. Terreno bought the original property consisting of 413,000 square feet in 2010 for $22.5 million. In 2013, Terreno acquired the adjacent land and expanded the building by 190,000 square feet. The buyer was also not disclosed.
NEW YORK CITY — Marcus & Millichap has brokered the $13.5 million sale of a 28-unit apartment building on Manhattan’s Lower East Side. The six-story, recently renovated building at 135 Eldridge St. was originally constructed in 1900 and includes two commercial spaces that are leased to Akiko Nails and Ha’s Dac Biet. Joe Koicim and Logan Markley of Marcus & Millichap represented the undisclosed seller in the transaction. The buyer and sales price were also not disclosed.
Cushman & Wakefield Brokers $16.2M Sale of 1840 Gateway Office Building in San Mateo, California
by Amy Works
SAN MATEO, CALIF. — Cushman & Wakefield has arranged the sale of 1840 Gateway, a Class A office property in San Mateo. Monday Properties sold the asset to SC Properties for $16.2 million. Gary Boitano, Ryan Venezia, Steve Herman, Jack Depuy, Seth Siegel, Scott Prosser and Courtney Trunnell of Cushman & Wakefield represented the seller and the buyer in partnership with Clarke Funkhouser of JLL. The four-story property offers 70,098 square feet of office space, as well as a recently renovated gym facility with showers. Approximately 75 percent of the building’s square footage is finished as high-end creative space, including renovated restrooms and polished concrete floors. The property also offers a multi-story glass-enclosed lobby and flexible zoning that allows for potential redevelopment to residential use.