Acquisitions

PLANO, TEXAS — Pennsylvania-based investment firm Equus Capital Partners Ltd. has purchased Legacy Place, a two-building office complex totaling 299,898 square feet in the northeastern Dallas suburb of Plano. Both six-story buildings were built in the late 1990s and are situated on a 15.3-acre site along Tennyson Parkway. Equus Capital will undertake a multimillion-dollar repositioning program that will deliver an enhanced outdoor patio and collaboration area, upgraded lobby, expanded fitness center and a new tenant lounge. The buildings were 88 percent leased at the time of sale. The seller was not disclosed.

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HOUSTON — CBRE has negotiated the sale of Northbrook Shopping Center, a 174,181-square-foot retail property located along U.S. Highway 290 in Houston. El Rancho Supermarket anchors the center, which was approximately 97 percent occupied at the time of sale. Mark Witcher, Chris Cozby, Jim Batjer and Blaine Dozier of CBRE represented the seller, Weingarten Realty, in the transaction. Wu Family Trust purchased the asset for an undisclosed price.

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WICHITA, KAN. — WS Development has formed a joint venture with Laham Development to acquire Bradley Fair in Wichita. The purchase price was not disclosed. Built in 1990, the 280,000-square-foot shopping center is home to more than 50 stores and restaurants, including Barnes & Noble, Sephora, Pottery Barn, Gap and soon-to-open Trader Joe’s. The property also features a lake, walking paths, gardens and community events. The seller was not disclosed.

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BAYFIELD, WIS. — Stan Johnson Co. has brokered the $7.8 million sale of a 26,640-square-foot office building in Bayfield in upstate Wisconsin along Lake Superior. The National Park Service occupies the single-tenant building, which is located at 37705 Roys Point Blvd. The property serves as a marina, boat maintenance facility and field office for the 21 islands and 43,000 acres of public lands that make up the Apostle Islands National Park. Scott Briggs of Stan Johnson represented the seller, Wisconsin-based Roy’s Pointe LP. Delaware-based Bayfield WI I SGF LLC purchased the property.

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EAST POINT, GA. — Blue Magma Residential LLC has acquired Parkside at Camp Creek, a 486-unit multifamily community in East Point, for $32.5 million. The property is located at 4031 7 Oaks Lane SW, four miles west of Hartsfield-Jackson Atlanta International Airport and 14 miles southwest of downtown Atlanta. Parkside at Camp Creek offers two- and three-bedroom floor plans and was 95 percent occupied at the time of sale. Communal amenities include a swimming pool, clubhouse, business center, fitness center, game room, media center and basketball and racquetball courts. The buyer will rebrand the community as The Park at Galaway. Tyler Averitt and Christopher Lyon of Cushman & Wakefield represented the buyer in the transaction. Greystone provided acquisition financing. The seller was not disclosed.

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PENSACOLA, FLA. — PIA Residential has purchased Crystal Lake, a 224-unit value-add apartment complex in Pensacola, for $26.3 million. The property was 98 percent occupied at the time of sale. The buyer plans to upgrade unit interiors and improve the property. Communal amenities include a beach volleyball court, barbecue area, playground, car washing station, private lake stocked with bass and a dog park. Arbor Realty Trust provided the buyer with a Fannie Mae acquisition loan. Jimmy Adams and Josh Jacobs of Cushman & Wakefield represented the seller, ExchangeRight, in the transaction.

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NAPLES, FLA. — SkyView Advisors has arranged the sale of a 1,001-unit self-storage facility in Naples. The 99,713-square-foot property is located on 4.3 acres at 3807 White Lake Blvd. Cameron Vale and Ryan Clark of SkyView Advisors represented the undisclosed seller in the transaction. Public Self Storage acquired the facility for an undisclosed price.

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FORT WORTH, TEXAS — Marcus & Millichap has arranged the sale of A Plus Boat Club, a 209-unit self-storage facility in Fort Worth. Built in 1990, the property spans 60,856 net rentable square feet and features non-climate-controlled units ranging in size from 200 to 352 square feet. Brandon Karr and Danny Cunningham of Marcus & Millichap represented the seller, a locally based partnership, in the transaction. The duo also procured the buyer, Spartan Investment Group, a self-storage owner-operator based in Denver.

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TOLEDO, OHIO — Cooper Commercial Investment Group has brokered the sale of a two-building medical asset anchored by Bon Secours Mercy Health in Toledo for $4.3 million. The property is fully leased. Dan Cooper of Cooper Group represented the seller, a private investment group. Cooper also procured the buyer, a Texas-based medical real estate company. The sales price represents a cap rate of 8.1 percent.

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NEW YORK CITY — JLL has brokered the $44.1 million sale of an industrial development site with three adjacent warehouses in Brooklyn. The property consists of three adjacent, single-story warehouses totaling 51,155 square feet and can support an additional 97,910 square feet of new development. Brendan Maddigan, Stephen Palmese, Winfield Clifford, Michael Mazzara and Ethan Stanton of JLL represented the seller, EcoRise Development LLC. The JLL team also represented the buyer, 473 President LLC.

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