Acquisitions

Bradford Allen Acquires 18-Story Office Tower in Downtown West Palm Beach, Plans $10M Renovation

by John Nelson May 12, 2025

WEST PALM BEACH, FLA. — Bradford Allen Investment Advisors has acquired One Clearlake, an 18-story office tower located at 250 S. Australian Ave. in downtown West Palm Beach. The Chicago-based buyer plans to invest $10 million to fully renovate the 221,661-square-foot property to include a new roof, updated elevator system and fitness center, reimagined tenant lounge and a newly constructed conference center. Additionally, Bradford Allen plans to build four move-in-ready spec suites on one floor that will be ready for delivery by the fourth quarter. Situated near South Florida’s Tri-Rail and Brightline rail services, One Clearlake was originally built in 1986 and is LEED Gold- and Energy Star-certified. Christian Lee, Amy Julian, Andrew Chilgren, Tom Rappa, Matthew Lee and Sean Kelly of CBRE’s National Office Partners of Florida represented the seller in the transaction. Bradford Allen will provide asset and property management services at the property, while Jon Blunk and Laurel Oswald of TCRE will handle leasing negotiations. The transaction marks Bradford Allen’s second office acquisition in South Florida following its purchase of 350 and 450 E. Las Olas Blvd. in Fort Lauderdale in February.

May 12, 2025

Acquisitions North Carolina Retail Southeast

Cushman & Wakefield Arranges $19.9M Sale of Carmel Village Shopping Center in Charlotte

by John Nelson May 12, 2025

CHARLOTTE, N.C. — Cushman & Wakefield has arranged the sale of Carmel Village, a 53,615-square-foot retail center located in Charlotte. Situated at 7510 Pineville-Matthews Road, the center was 91 percent leased at the time of sale to tenants including Bonefish Grill, Mathnasium, Eye Care Partners, Chick-O-Rice, NY Old School Bagels and QC Tea Bar. Margaret Jones, Lane Breedlove and Miguel Alcivar of Cushman & Wakefield represented the seller, Raptor Realty Investments, in the transaction. The buyer was not disclosed.

May 12, 2025

Acquisitions Kentucky Seniors Housing Southeast

Blueprint Brokers Sale of 49-Unit Assisted Living Community in Richmond, Kentucky

by John Nelson May 12, 2025

RICHMOND, KY. — Blueprint Healthcare Real Estate Advisors has brokered the sale of a 49-unit assisted living community located in Richmond, roughly 35 miles southeast of Lexington, Ky. A Midwest-based private equity group acquired the property, which was built in 2009, for an undisclosed price. Kyle Hallion, Connor Doherty and Ryan Kelly of Blueprint represented the seller, a New York-based owner-operator, in the transaction. Both parties requested anonymity.

May 12, 2025

Acquisitions Industrial Utah Western

Walmart Purchases 1 MSF Distribution Building in Salt Lake City

by Amy Works May 9, 2025

SALT LAKE CITY — Walmart Inc. has acquired a 1 million-square-foot distribution building on nearly 60 acres in Salt Lake City. Terms of the transaction were not disclosed. Walmart Fulfillment Services was previously leasing the entire property located at 990 N. 6550 West on a long-term basis prior to the sale. Commonly known as the Salt Lake City Logistics Center, the property comprises a cross-dock industrial building with immediate freeway access, a clear height of 40 feet and immediate access to the Salt Lake City International Airport. The property was completed in 2022. Ed Lampitt, Will Strong, Jeff Chiate and Matt Leupold of Cushman & Wakefield’s National Industrial Advisory Group represented Walmart in the deal.

May 9, 2025

Acquisitions California Industrial Self-Storage Western

Joint Venture Buys 1,435-Unit Self-Storage Portfolio in San Francisco Bay Market for $44.2M

by Amy Works May 9, 2025

VALLEJO AND SONOMA, CALIF. — Harvest Properties, in joint venture with New York Life Real Estate Investors (NYLREI), has acquired two self-storage facilities in Vallejo and Sonoma in separate transactions totaling $44.2 million. In total, the properties offer 1,435 self-storage units. The joint venture has engaged Extra Space to manage both properties. The partnership purchased Best Self Storage, an 80,000-square-foot drive-up facility with 516 units at 155 Fremont Drive and Mafei Road in Sonoma, and Vallejo Self Storage, a 76,000-square-foot property with 919 climate-controlled units at 384 Fairgrounds Drive in Vallejo. The JLL Storage Capital Markets team represented the seller in the Vallejo Self Storage transaction.

May 9, 2025

28218-28230-Constellation-Rd-Valencia-CA

Acquisitions California Industrial Western

CBRE Negotiates $13.6M Sale of Industrial Building in Valencia, California

by Amy Works May 9, 2025

VALENCIA, CALIF. — CBRE has negotiated the sale of an industrial property located at 28218-28230 Constellation Road in Valencia. Watercress Holdings acquired the asset from 28230 Constellation LLC for $13.6 million. At the time of sale, approximately 23,000 square feet of the 60,474-square-foot building was vacant, while the remaining space is occupied by long-term tenants SCP Pool and Scooter’s Jungle. Watercress Holdings plans to make significant investments in the property, including upgrades to the exterior, roof, common areas and a complete remodel of the vacant unit. Sam Glendon of CBRE represented the seller in the deal.

May 9, 2025

3541-3535-Big-Dalton-Ave-Baldwin-Park-CA

Acquisitions California Multifamily Western

Big Dalton Acquires 24-Unit Multifamily Community in Baldwin Park, California

by Amy Works May 9, 2025

BALDWIN PARK, CALIF. — Big Dalton LLC has acquired a 24-unit apartment property located at 3541-3545 Big Dalton Ave. in Baldwin Park from HP Big Dalton for $6.3 million. Eric Chen and Justino Fa’aola of CBRE represented the buyer and seller in the deal. The community offers two-bedroom floor plans, with 50 percent of the units designed as single-story bungalows. Units feature quartz countertops, vinyl and carpeted flooring, wall-mounted AC units, select kitchen appliances, in-unit washer and dryer and private or shared patios.

May 9, 2025

Acquisitions Industrial Texas

Marcus & Millichap Brokers Sale of 145-Unit Self-Storage Facility Near Fort Worth

by Taylor Williams May 9, 2025

NORTH RICHLAND HILLS, TEXAS — Marcus & Millichap has brokered the sale of FreeUp Storage, a 145-unit self-storage facility located outside of Fort Worth in North Richland Hills. The facility spans 21,910 net rentable square feet across four climate-controlled units, 101 non-climate units, 34 indoor units and six commercial warehouse units. Danny Cunningham and Brandon Karr of Marcus & Millichap represented the seller, Spartan Investment Group, in the transaction. The duo also procured the buyer, locally based storage investment group Hinze Capital.

May 9, 2025

Acquisitions Retail South Carolina Southeast

NAI Charleston Arranges Sale of 57,659 SF Shopping Center in Myrtle Beach, South Carolina

by John Nelson May 9, 2025

MYRTLE BEACH, S.C. — NAI Charleston has arranged the sale of a 57,659-square-foot shopping center located at 201-233 International Drive in Myrtle Beach. Built in 2014, the center sits on 6.4 acres, according to LoopNet. Lowes Foods anchors the center, which is leased to a mix of local and national tenants. Thomas Boulware and Michael Branch of NAI Charleston represented the buyer in the transaction. Drew Parks of Coldwell Banker Commercial represented the seller. Both parties requested anonymity and the sales price was not released.

May 9, 2025

Acquisitions Northmarq Texas

Northmarq Arranges Sale of 11,000 SF Medical Office Building in Bastrop, Texas

by Taylor Williams May 9, 2025

BASTROP, TEXAS — Northmarq has arranged the sale of an 11,000-square-foot medical office building in the Central Texas city of Bastrop. Texas Oncology occupies the facility, which was originally built in 2009, on a triple-net basis. Jeff Matulis, Toby Scrivner and David Annett of Northmarq represented the seller, Dallas-based Blue Drake Capital, in the transaction and procured the buyer, Maple Street Management. Jada Purchase, also with Northmarq, arranged an undisclosed amount of acquisition financing for the deal.

May 9, 2025

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