Acquisitions

TruAmerica Multifamily Acquires Chase Heritage Apartments in Sterling, Virginia for $72M

by John Nelson June 3, 2025

STERLING, VA. — TruAmerica Multifamily has purchased Chase Heritage Apartments, a 236-unit community located at 1212 Chase Heritage Circle in Sterling, a suburb of Washington, D.C. McDowell Properties sold the garden-style property for $72 million. Robert Dean and Jonathan Greenberg of Institutional Property Advisors’ (IPA) Mid-Atlantic office represented the seller in the transaction. Built in 1986, Chase Heritage has had multiple renovations completed since 2021, mostly on the exterior and amenity areas including the pool area, clubhouse and fitness center. TruAmerica Multifamily plans to renovate the property’s interiors and enhance amenity offerings during its ownership.

June 3, 2025

Acquisitions Development Maryland Office Southeast

JLL Arranges Sale of 222,000 SF Office Building in North Bethesda, Buyer Plans Repositioning

by John Nelson June 3, 2025

NORTH BETHESDA, MD. — JLL has arranged the sale of a 222,000-square-foot office building located at 2101 E. Jefferson St. in North Bethesda. Jim Meisel, Dave Baker, Andrew Weir and Kevin Byrd of JLL represented the seller and procured the buyer in the transaction. Both parties requested anonymity, and the sales price was also not disclosed. Meisel says that the buyer plans to reposition the vacant office building for another use, plans of which were not released. Built in 1985, the office property is situated on 4 acres near Pike & Rose, a mixed-use development by Federal Realty Investment Trust that features more than 50 shops and restaurants and more than 750 apartments.

June 3, 2025

Acquisitions Industrial Southeast West Virginia

Marcus & Millichap Negotiates $4.8M Sale of Industrial Facility in Martinsburg, West Virginia

by John Nelson June 3, 2025

MARTINSBURG, W.VA. — Marcus & Millichap has negotiated the $4.8 million sale of a 67,200-square-foot industrial facility located at 5158 Williamsport Pike in Martinsburg. PepsiCo recently vacated the facility after its lease expired on May 31. Situated on 7.6 acres, the tilt-up concrete building includes a recently replaced roofing system, 28- to 32-foot clear heights, a 34-foot full deck height, seven trailer dock doors, two trash removal doors, nine levelers, single and double-wide drive-in doors and a 15-ton interior gantry crane. Kyle Malin and Brian Chupek of Marcus & Millichap’s Baltimore office represented the Los Angeles-based seller and procured the Maryland-based buyer. Both parties requested anonymity. Grant Fitzgerald served as Marcus & Millichap’s broker of record in West Virginia for the deal.

June 3, 2025

Acquisitions Mississippi Retail Southeast

CrownPoint Partners Brokers $3.6M Sale of Kroger-Leased Store in Laurel, Mississippi

by John Nelson June 3, 2025

LAUREL, MISS. — CrownPoint Partners has brokered the $3.6 million sale of a 44,046-square-foot retail property in Laurel leased to Kroger, which has operated at that location for more than 40 years. The acquisition also includes a Kroger Fuel Center. The store is located on a 4.2-acre parcel at 2340 Highway 15 N, about 31 miles north of Hattiesburg, Miss. Julius Swolsky and Shannon Bona of CrownPoint Partners represented the buyer, a subsidiary of Cincinnati-based Essential Growth Properties, in the transaction. Marcus & Millichap represented the seller, San Francisco-based Pacific Bay Investments Inc. Niko Buntich of Trinity Capital Corp. originated acquisition financing for the buyer.

June 3, 2025

Acquisitions New York Northeast Office

Tishman Speyer Buys Office Building in Manhattan’s SoHo District for $105.5M

by Taylor Williams June 3, 2025

NEW YORK CITY — Tishman Speyer has purchased 148 Lafayette Street, a 12-story office building in Manhattan’s SoHo District, for $105.5 million. Constructed in 1913 and most recently renovated in 2017, the 153,000-square-foot building was fully leased at the time of sale to tenants such as venture capital firm General Catalyst and beauty and cosmetics firm Charlotte Tilbury. The building’s retail space is also fully leased to boxing gym Five Points Academy and clothing store 260 Sample. Adam Spies and Avery Silverstein of Newmark represented the seller, EPIC, an investment firm with offices in New York City and London, in the transaction. Blackstone provided $68.3 million in acquisition financing for the deal.

June 3, 2025

Acquisitions New Jersey Northeast Retail

Cushman & Wakefield Brokers $5.7M Sale of Six Vacant Bank Branches in Northern New Jersey

by Taylor Williams June 3, 2025

NEW JERSEY — Cushman & Wakefield has brokered the $5.7 million sale of six vacant bank branches in Northern New Jersey. The properties — located in Hillsborough, Franklin, Morganville, Elmwood Park, Montclair and Bayonne — offer a range of features and opportunities for repurposing or redevelopment. Andrew Schwartz, Jordan Sobel, André Balthazard and Dan Bottiglieri of Cushman & Wakefield represented the various regional and national banks that owned the properties in the transactions. The names of the various private buyers that acquired the assets were also not disclosed.

June 3, 2025

Acquisitions Multifamily New Jersey Northeast

Kislak Arranges $4.1M Sale of Apartment Complex in Roselle Park, New Jersey

by Taylor Williams June 3, 2025

ROSELLE PARK, N.J. — Locally based brokerage firm The Kislak Co. Inc. has arranged the $4.1 million sale of a 24-unit apartment complex located in the Northern New Jersey community of Roselle Park. The three-story building at 336 E. Westfield Ave. houses six studios, 17 one-bedroom units and a rental house with onsite parking for tenants. About half (13) of the units were recently renovated with new kitchens and bathrooms, and the property also recently received a new roof and common area upgrades. Andrew Scheinerman and Jeff Squires of Kislak brokered the deal. Both parties were limited liability companies that requested anonymity.

June 3, 2025

Acquisitions Colorado Industrial Western

JLL Brokers Sale of 2.1 MSF Industrial Portfolio Across Three Markets

by Amy Works June 3, 2025

DENVER — JLL Capital Markets has arranged the sale of an industrial portfolio spanning Denver, Houston and northern New Jersey. Principal Asset Management and a state-sponsored pension plan acquired the asset from an undisclosed seller. Terms of the transaction were not disclosed. Totaling 2.1 million square feet, the portfolio spans 10 industrial properties that were 96.7 percent occupied at the time of sale. The portfolio includes: – Five properties, totaling 1.2 million square feet, in Denver at 11700 E. 47th Ave., 11511 E. 45th Ave., 11775 E. 45th Ave., 11351 E. 45th Ave. and 11198 E. 45th Ave. – Four assets, totaling 708,944 square feet, at Waypoint Business Park on S. Sam Houston Parkway W in southwest Houston – A 208,899-square-foot facility at 1203 S. River Road at Exit 8A on the New Jersey Turnpike Trent Agnew, John Huguenard, Peter Merrion, John Plower, Patrick Nally, Charlie Strauss, William McCormack and Robert Key of JLL Capital Markets Investment Sales and Advisory team represented the seller in the transaction.

June 3, 2025

Acquisitions Colorado Multifamily Western

Thompson Thrift Sells 300-Unit Upland Flats Multifamily Community in Colorado Springs

by Amy Works June 3, 2025

COLORADO SPRINGS, COLO. — Thompson Thrift has sold Upland Flats in Colorado Springs to NALS Apartment Homes for an undisclosed figure. Matt Barnett, Dan Woodward, Jake Young and Dave Potarf of Walker & Dunlop brokered the sale. Thompson Thrift began developing the 300-unit community in 2021. The Watermark 2021 Multifamily Development Fund III LP provided equity for the project. Situated on 15.5 acres, Upland Flats’ amenity package includes 24-hour fitness centers, community gardens, dog parks and more.

June 3, 2025

Acquisitions California Retail Western

CBRE Arranges $25.7M Sale of Shopping Center in Costa Mesa, California

by Amy Works June 3, 2025

COSTA MESA, CALIF. — CBRE has arranged the $25.7 million sale of Westport Plaza & Square, a 39,334-square-foot shopping center located in Costa Mesa. Built in 1975 and renovated in 2002 and 2018, the center is situated on 13.7 acres. Tenants at the property — which was 97 percent leased at the time of sale — include Plums Café & Catering, Fleur De Lys, Crumbl Cookies, Common Thread, House of Yogurt, Massimo’s Pizza and LaserAway. Westport Plaza & Square has roughly 54 years remaining on its long-term ground lease. Jimmy Slusher, along with Megan Lanni and Shaya Northrup of CBRE’s NRP-West team, represented both the seller, Newport Beach-based Space Investment Partners, and the buyer, Asana Partners, in the transaction.

June 3, 2025

Newer Posts

Older Posts