ARLINGTON, TEXAS — JLL has negotiated the sale of a portfolio of three self-storage facilities totaling 669 units in Arlington. The facilities at 3016 S. Cooper St., 2331 S. Collins St. and 2306 N. Collins St. were all built in the 1970s and collectively span 80,216 net rentable square feet. Steve Mellon, Brian Somoza, Adam Roossien and Matthew Wheeler of JLL represented the seller, an undisclosed, publicly traded storage REIT, in the transaction. BreakChain Capital Investments purchased the portfolio for an undisclosed price.
IRVING, TEXAS — Marcus & Millichap has brokered the sale of Market Square, a 46,822-square-foot retail center in Irving’s Las Colinas district. Market Square was built in 1984 and houses a mix of service-oriented tenants under triple-net agreements. Philip Levy of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors that requested anonymity, in the transaction.
PEMBROKE PINES, FLA. — Waterton has purchased The Landings at Pembroke Lakes, a 358-unit, garden-style apartment community located at 10650 Washington St. in Pembroke Pines, a city in South Florida’s Broward County. The Chicago-based owner-operator plans to invest in light capital improvements to the property’s interiors and common areas, including new equipment on its lakefront beaches. The seller and sales price were not disclosed, but South Florida Business Journal reports the property traded at $80.5 million. Walker & Dunlop represented both the buyer and seller in the transaction and also arranged acquisition financing. Built in 1989 around a 45-acre lake, The Landings at Pembroke Lakes is situated on a 27-acre site and offers a mix of one- and two-bedroom apartments. Amenities include a resort-style pool, clubhouse, fitness center, dog park, tennis courts and sand volleyball courts.
ANNAPOLIS, MD. — MCB Real Estate has purchased an ownership interest in Annapolis Plaza, a 165,565-square-foot shopping center located at 150 Jennifer Road in Annapolis. An unnamed institutional partner of MCB will retain an ownership interest in the retail property, while MCB will oversee leasing strategy, asset management and property management at the center. The seller and sales price were not disclosed, as well as the percentage of the ownership stake. Annapolis Plaza’s tenant roster includes Trader Joe’s, Homesense, HomeGoods and Marshalls. World Market plans to open a new 16,818-square-foot store at the shopping center soon, according to Baltimore Business Journal.
TEMPE, ARIZ. — Stos Partners has bought an industrial warehouse, located at 525 S. McClintock Drive in Tempe, from a private owner for $5.7 million. Situated on 2.6 acres, the property offers 40,023 square feet of industrial space. Built in 1975, the building features 14-foot clear heights, six grade-level loading doors, approximately 6,000 square feet of office space, HVAC throughout the warehouse and offices areas and more than 1,000 amps of power. Originally developed as a six-tenant industrial building, the property was most recently occupied by a single user. Stos Partners plans to implement a comprehensive renovation program to transform the Class B asset into a modern multi-tenant industrial facility designed to serve a range of small-bay warehouse users. Upon completion of renovations, the building will offer five to six suites ranging from 5,000 square feet to 12,500 square feet. Planned improvements will include construction of new speculative office space, reconfiguration of the warehouse into multiple tenant suites, upgrades to the parking lot, building façade and landscaping, warehouse enhancements, installations of new white scrim, HVAC replacements, roof resurfacing and new property signage. Jack Tate and Payton Kruidenier of Ross Brown Partners represented the buyer and seller in the transaction.
VOORHEES, N.J. — Doors & Spaces, a regional investment firm focused on small-bay industrial product, has purchased a 32,850-square-foot facility in Voorhees, located in Southern New Jersey’s Camden County. The sales price was $4.1 million. The facility was built on a 3.3-acre site at 476 Centennial Blvd. in 1987 and was fully leased at the time of sale to eight tenants. The seller was not disclosed.
BROWNSBURG, IND. — JLL Capital Markets has brokered the sale of Park 74 Commerce Center, a two-building industrial portfolio totaling 826,687 square feet in Brownsburg within metro Indianapolis. The portfolio includes a 580,884-square-foot cross-dock facility and a 245,803-square-foot rear-load building, both constructed in 2024. Building features include clear heights of 40 and 32 feet, 84 dock doors, ample trailer parking and connectivity to the CSX railway via an active rail spur. The properties are fully leased to three tenants representing abrasives manufacturing, electric motors and flexible film production. The assets provide immediate access to I-74 via Ronald Reagan Parkway. Sean Devaney, Kurt Sarbaugh, Ed Halaburt, Ross Bratcher, Cameron Chandra and Luke Davis of JLL represented the sellers, Brennan Investment Group and RGA ReCap Inc., on behalf of Reinsurance Group of America Inc. Brian Buschuk and Brian Seitz provided local market expertise out of JLL’s Indianapolis office. Buyer information was not provided.
URBANDALE, IOWA — Associated Bank has originated a $17.7 million loan for Tricap Investments for the phased acquisition of the Townhomes at Magnolia Heights in Urbandale, a suburb of Des Moines. The 105 two-story townhome rental units are adjacent to the 240 for-sale, single-family and townhome community of Magnolia Heights. Elizabeth Hozian of Associated Bank managed the loan arrangements and closing. Tricap Investments focuses on the acquisition of low-density multifamily housing in suburban markets.
CHICAGO — Marcus & Millichap has arranged the $6.6 million sale of a multifamily and retail property located at 935-937 W. Armitage Ave. in Chicago’s Lincoln Park neighborhood. The asset features eight multifamily units and a retail space occupied by Wintrust Bank. The multifamily component includes a mix of one-, two- and three-bedroom units across 9,745 rentable square feet. Kyle Stengle of Marcus & Millichap represented the seller, 935 W. Armitage (Chicago) LLC, and procured the buyer, 935 Armitage LLC.
NEW BRAUNFELS, TEXAS — Metro Denver-based investment firm Platte Canyon Capital (PCC) has acquired Northwood Apartments, a 252-unit multifamily complex located northeast of San Antonio in New Braunfels. Northwood Apartments was built in phases between 1998 and 2017 and offers one- and two-bedroom units. PCC plans to update and renovate amenity spaces, including the pool, fitness center, parking areas and clubhouse, as well as building exteriors. The property was 70 percent occupied at time of sale. The undisclosed seller was the property’s original developer.