MISSOURI CITY, TEXAS — Marcus & Millichap has brokered the sale of Brazos Lake Shopping Center, a 9,920-square-foot retail strip center in Missouri City, a southwestern suburb of Houston. Anchored by Excel Urgent Care, the center was built on 1.2 acres in 2009 and features three suites. Joseph Jaques, Alex Wolansky, Gus Lagos and Ron Hebert of Marcus & Millichap represented the undisclosed seller in the transaction. The buyer and sales price were also not disclosed.
SHREWSBURY, MASS. — Industrial Commercial Properties (ICP) has acquired a 680,000-square-foot industrial campus in Shrewsbury, located in Worcester County. The development at 65 Chestnut St. consists of two buildings that were built in the 1980s. According to LoopNet Inc., the buildings feature clear heights of roughly 21.5 to 28.5 feet. In addition, the campus has the electrical capacity to support up to 15 megawatts of power. ICP plans to reposition the campus to support manufacturing usage and has already received zoning approval for that initiative. The seller and sales price were not disclosed.
TOMS RIVER, N.J. — Colliers has brokered the $13.6 million sale of a portfolio of two medical office buildings totaling 55,680 square feet in Toms River, located near the Jersey Shore. The buildings at 1-3 Plaza Drive total 37,621 and 18,059 square feet, respectively, and had a combined occupancy rate of 98 percent at the time of sale. Tenants include Physicians Surgicenter, University Radiology Group and Astera Cancer Care. Jacklene Chesler, Patrick Norris and Brittany Leventoff of Colliers represented the seller, New Jersey-based Horizon Equities, in the transaction. The buyer was undisclosed.
SURPRISE, ARIZ. — Basis Industrial, a privately held and vertically integrated real estate owner and operator based in Delray Beach, Fla., has acquired a land parcel at 17140 W. Waddell Road in Surprise for the development of a self-storage facility. Additionally, Basis Industrial closed on a $20.5 million construction loan for the project. NexBank and NexPoint provided the construction financing. The development will encompass approximately 102,673 square feet with 707 climate-controlled storage units upon completion. Construction is expected to begin later this year, with completion and opening slated for fall 2027. The project will be situated within the Truman Ranch master-planned community, including more than 600 new apartment units.
LAS VEGAS — MorningStar Senior Living has recapitalized MorningStar Senior Living at The Canyons, a seniors housing property situated on 3.6 acres at 490 S. Hualapai Way in Las Vegas. JLL Capital Markets represented the seller, a joint venture between Confluent Development and Ovation Group, in the sale of the property to a private equity firm. JLL also worked on behalf of the buyer to secure a five-year acquisition loan through a debt fund. MorningStar will remain as the operator and a joint venture partner. MorningStar opened the 168-unit community in 2024 with co-developers Confluent Development and Ovation Group. The four-story MorningStar at The Canyons offers independent living, assisted living and memory care units in a mix of studio, one- and two-bedroom layouts. Community amenities include multiple dining venues, fitness and therapy spaces, a salon, theater and swimming pool, as well as a variety of social and wellness programs.
DEER PARK AND BATAVIA, ILL. — JLL Capital Markets has arranged $112 million in acquisition financing through a regional bank for a two-property seniors housing portfolio totaling 330 units in metro Chicago. Sam Dylag of JLL represented the borrower, an affiliate of The Inland Real Estate Group LLC. The properties include Deer Park Village, a 188-unit community in Deer Park that opened in 2016, and The Landings, a 142-unit asset in Batavia constructed in 2021. Both offer a continuum of care from independent living, assisted living and memory care. Dial Senior Living will retain management of the properties. Mark Cosenza and Brett Smith represented Inland on an internal basis. With the transaction, Inland has surpassed more than $1 billion in senior living acquisitions.
ROCHESTER, MINN. — Cushman & Wakefield has brokered the $7.3 million sale of Cascade Apartments, a 44-unit property in Rochester. Chris Collins, Lance Steiger, Evan Miller and Erin Salway of Cushman & Wakefield represented the seller, Patina Management. The buyer was Black Swan Living. Completed in 2016, the property features a mix of studio, one- and two-bedroom units with an average size of 839 square feet. At the time of sale, the asset was fully leased. The property recently underwent capital improvements, including a new roof in 2023.
JACKSON TOWNSHIP, OHIO — Stone Bridge Investment Group has acquired a two-building industrial portfolio at 7774 and 7810 Whipple Ave. NW in Jackson Township, south of Akron. The properties total 135,303 square feet. Landon Williams and Ryan Thomas of Cushman & Wakefield Commercial Advisors and George Pofok, Eliiot Kijewski and Cole Sorenson of Cushman & Wakefield CRESCO Real Estate represented the seller, Industrial Commercial Properties. Christopher Tichio of Alexander Summer represented the buyer.
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.
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 …