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Acquisitions

brennan-industrial-south-carolina
AcquisitionsIndustrialSouth CarolinaSoutheast

Brennan Acquires 157,412 SF Industrial Facility in Upstate South Carolina

by Abby Cox

PIEDMONT, S.C. — Brennan Investment Group has acquired a 157,412-square-foot industrial facility located in Piedmont, about 12 miles from Greenville. Completed in 2023, the building is situated within Exchange Logistics Park, a 900,000-square-foot, multi-building industrial park. The seller requested anonymity, and the purchase price was also not disclosed. The recently acquired building features 32-foot clear heights, ESFR fire protection, LED high-bay lighting, a 135-foot truck court and abundant dock-high loading. The facility is currently occupied by two unnamed tenants and includes 65,000 square feet of vacant space. Brennan also plans to complete “move-in ready” improvements, such as speculative office space.   

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Centreport-Lake-Fort-Worth
AcquisitionsMultifamilyTexas

Newmark Arranges Sale of 452-Unit Apartment Community in East Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Newmark has arranged the sale of Centreport Lake, a 452-unit apartment community in East Fort Worth. Built on 24 acres in 2008, the property offers one-, two- and three-bedroom apartments with an average unit size of 946 square feet. Amenities include two pools, a dog park, business center and outdoor grilling and dining stations. Richard Furr, Brian Murphy and Brian O’Boyle Jr. of Newmark represented the seller, Marlin Spring US Realty, in the transaction. Henry Stimler and Ricky Warner, also with Newmark, arranged undisclosed amounts of acquisition financing and equity investments on behalf of the buyer, which was also not disclosed.

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AcquisitionsMultifamilyNew YorkNortheast

Marcus & Millichap Brokers $7.5M Sale of Multifamily Property in Midtown Manhattan

by Taylor Williams

NEW YORK CITY — Marcus & Millichap has brokered the $7.5 million sale of a multifamily property in the Times Square submarket of Midtown Manhattan. The two-building, 12,675-square-foot property at 140-142 W. 46th St. houses six market-rate apartments, five rent-stabilized apartments and a 5,200-square-foot vacant restaurant space. Colton Traynham, Matt Fotis and Michael Weinstein of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

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401-Cypress-Ave-South-SanFran-CA
AcquisitionsCaliforniaMultifamilyWestern

Sares Regis Sells 195-Unit Celeste Apartments in South San Francisco

by Amy Works

SAN FRANCISCO — Sares Regis Group of Northern California, along with an institutional equity partner, has sold the 195-unit Celeste Apartments in South San Francisco. North Carolina-based Bell Partners purchased the property on behalf of its Bell Growth & Income Fund investors. The new owner will rename the asset, located at 401 Cypress Ave., to Bell South City II. Terms of the acquisition were not released. Completed in 2024, the eight-story multifamily building features studio, one- and two-bedroom apartments, a fitness loft and secure EV parking. At delivery, the property was 95 percent occupied. Berkadia represented the seller in the transaction.

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Guava-Gardens-La-Mesa-CA
AcquisitionsAffordable HousingCaliforniaMultifamilyWestern

Marcus & Millichap Brokers $12.5M Sale of Affordable Seniors Housing Property in Southern California

by Amy Works

LA MESA, CALIF. — Marcus & Millichap has brokered the $12.5 million sale of Guava Gardens, an affordable seniors housing property in La Mesa. Los Angeles-based Positive Investments was the buyer.  Built in 1986, the property totals 81 units, with 40 studio apartments and 41 one-bedroom apartments. Residences are reserved for seniors aged 62 and older. Amenities at the community include a pool, spa, recreation room, outdoor gathering areas, laundry facilities and dedicated parking.  Christopher Zorbas, Graeme Henderson and Austin Huffman of Marcus & Millichap represented the undisclosed seller in the transaction. 

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AcquisitionsDistrict of ColumbiaOfficeSoutheast

Garfield Investments, Broad Creek Capital Buy Office Building in D.C., Plan $10M Renovation

by John Nelson

WASHINGTON, D.C. — A partnership between Garfield Investments and Broad Creek Capital has purchased 1667 K Street NW, a nearly 200,000-square-foot office building overlooking Farragut Square in Washington, D.C. The undisclosed seller sold the property to the partnership for $26.2 million. Andrew Weir of JLL brokered the transaction. The new ownership has selected Seth Benhard of JLL to lease the office building. JLL will also provide property management services. Garfield plans to invest approximately $10 million in capital improvements at 1667 K Street NW, which will includes installing an amenity floor on the top level.

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AcquisitionsIndustrialKansasMidwest

BGO, Yukon Sell 291,000 SF Cold Storage Facility in New Century, Kansas

by Kristin Harlow

NEW CENTURY, KAN. — BGO and Yukon Real Estate Partners have sold New Century Cold Storage, a newly built, 291,000-square-foot cold storage warehouse in New Century, a southwest suburb of Kansas City. A MetLife Investment Management client was the buyer. The facility, owned and co-developed through a joint venture between BGO and Yukon, was purpose-built as a plant-attached, built-to-suit warehouse for CJ Logistics America. The property is located within Johnson County Airport Commission’s New Century AirCenter industrial park, with a direct rail spur to the building and access to the BNSF Railway transcontinental intermodal facility. The asset is positioned less than four miles from I-35, providing road access to approximately 85 percent of the U.S. population within two days.

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AcquisitionsMidwestMinnesotaMultifamily

JLL Brokers Sale of 81-Unit Apartment Community in Plymouth, Minnesota

by Kristin Harlow

PLYMOUTH, MINN. — JLL Capital Markets has brokered the sale of Medicine Lake Apartments, an 81-unit community situated along Medicine Lake in Plymouth. Built in 1977, the four-story property features 12 private boat slips and floor plans averaging 948 square feet. Amenities include a fitness center, sauna, outdoor pool, multi-sport court, resident clubroom and direct access to the Luce Line Regional Trail. Josh Talberg, Joseph Peris and Jack Graveline of JLL represented the seller, Bigos Management. The buyer was Weber Organization.

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AcquisitionsOfficeTexas

Shorenstein Investment Advisers Acquires 273,000 SF Office Property in Plano

by Taylor Williams

PLANO, TEXAS — San Francisco-based Shorenstein Investment Advisers has acquired The Tennyson, a 273,000-square-foot office property located northeast of Dallas in Plano. The two-building, 12-acre complex, which is located within the city’s Legacy submarket, was originally developed in 2012 as a build-to-suit for Swedish telecommunications company Ericsson. The Tennyson was also recently renovated and was fully leased at the time of sale. The seller and sales price were not disclosed.

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AcquisitionsHealthcareTexas

Marcus & Millichap Brokers Sale of 124,000 SF Healthcare Property in Houston

by Taylor Williams

HOUSTON — Marcus & Millichap has brokered the sale of a 124,000-square-foot healthcare property in the Spring Branch area of Houston. Originally constructed on a 4.3-acre site at 1615 Hillendahl Blvd. in 1965, the property formerly served as a 198-unit skilled nursing facility. Rod Llanos of Marcus & Millichap represented the undisclosed seller in the transaction. The buyer and sales price were also not disclosed.

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