Acquisitions

Newmark Brokers Sale of 349-Unit Apartment Community in Cedar Park, Texas

by Taylor Williams August 22, 2025

CEDAR PARK, TEXAS — Newmark has brokered the sale of The Alden at Cedar Park, a 349-unit apartment community located on the northern outskirts of Austin. Built in 2020, the community offers one- and two-bedroom units and amenities such as a pool, clubhouse with a resident lounge and cocktail bar, outdoor entertainment areas with grilling stations and a 24-hour fitness center. Patton Jones and Andrew Dickson of Newmark represented the undisclosed seller in the transaction. Mitch Clarfield and Alec Newman, also with Newmark, originated Fannie Mae acquisition financing on behalf of the buyer, Washington-based Weidner Apartment Homes. The Alden was 95 percent occupied at the time of sale.

August 22, 2025

Acquisitions Multifamily New Jersey Northeast

CBRE Negotiates $117M Sale of Apartment Complex in Park Ridge, New Jersey

by Taylor Williams August 22, 2025

PARK RIDGE, N.J. — CBRE has negotiated the $117 million sale of The James, a 240-unit apartment complex located in the Northern New Jersey community of Park Ridge. Completed in 2021, The James offers studio, one- and two-bedroom units that are furnished with stainless steel appliances, quartz countertops, espresso cabinetry and tile backsplashes. Indoor amenities include a coffee bar, game room, catering kitchen, coworking spaces with private offices, fitness center and a yoga studio. Outside, residents have access to multiple gathering areas, including an outdoor pool, grilling and dining areas, fire pits, TV and lounge areas and a turf lawn. The James also houses nearly 18,000 square feet of retail space. Jeffrey Dunne, Stuart MacKenzie, Eric Apfel, Travis Langer, Roland Merchant and Tom Pryor of CBRE represented the seller, Veris Residential, in the transaction. The buyer was not disclosed.

August 22, 2025

Acquisitions California Retail Western

Brixton Capital Acquires 86,872 SF Shopping Center in Mountain House, California

by Amy Works August 22, 2025

MOUNTAIN HOUSE, CALIF. — Brixton Capital has purchased The Market Mountain House, a neighborhood shopping center in Mountain House, from Shea Properties for $32 million. The fully leased property offers 86,872 square feet of retail space spread across five buildings. Current tenants include Safeway and its affiliated fuel station, Starbucks Coffee, The UPS Store, Great Clips and Haagen-Dazs. Rob Ippolito, Pete Bethea, Glenn Rudy, Nicholas Ricardo and Warren McClean of Newmark represented the Aliso Viejo, Calif.-based seller, while Brixton was self-represented in the transaction.

August 22, 2025

Acquisitions Colorado Retail Western

SRS Real Estate Arranges $9.3M Sale of KinderCare-Occupied Flex Property in Broomfield, Colorado

by Amy Works August 22, 2025

BROOMFIELD, COLO. — SRS Real Estate Partners has brokered the sale of a newly developed flex building located at 1101 Spring Place in Broomfield. A Denver-based private developer sold the property to a Kansas City-based private investor for $9.3 million. Ryan Tomkins of SRS Capital Markets represented the seller in the transaction. Portland, Ore.-based KinderCare occupies the 12,000-square-foot property under a 15-year corporate-guaranteed, triple-net lease. KinderCare operates more than 2,400 locations in 40 states.

August 22, 2025

Acquisitions Arizona Office Western

Cushman & Wakefield Negotiates $7.3M Sale of Flex Office Building in Tempe, Arizona

by Amy Works August 22, 2025

TEMPE, ARIZ. — Cushman & Wakefield has directed the sale of a flex office building situated on ground leased land within the Arizona State University Research Park in Tempe. LNR Partners sold the property to David McHenry for $7.3 million. Situated on 9.6 acres at 8700 S. Price Road, the two-story building offers 132,070 square feet of office space that is fully available for new tenancy. Eric Wichterman, Chris Toci and Mike Coover of Cushman & Wakefield represented the seller. Charles Miscio and Luke Waller of CBRE assisted in the transaction.

August 22, 2025

Acquisitions California Retail Western

Faris Lee Investments Brokers $6.1M Sale of Two-Tenant Retail Property in Southern California

by Amy Works August 22, 2025

PALM DESERT, CALIF. — Irvine, California-based Faris Lee Investments has brokered the $6.1 million sale of a two-tenant retail property located at the corner of Highway 111 and Fred Waring Drive in Palm Desert. SchoolsFirst Federal Credit Union and T-Mobile occupy the 7,400-square-foot building. Chris DePierro, Jeff Conover, Don MacLellan, Scott DeYoung and Greg Lukosky of Faris Lee represented the seller, Sage Investments, in the transaction. The all-cash, 1031 exchange buyer was a Southern California-based private investor. This deal marks the 25th property Faris Lee Investments has sold in the Palm Desert, Palm Springs, La Quinta and Indio markets.

August 22, 2025

Acquisitions Multifamily Northeast Pennsylvania Student Housing

Franklin Street Brokers $30M Sale of Student Housing Property Near Penn State University

by Taylor Williams August 22, 2025

STATE COLLEGE, PA. — Franklin Street has brokered the $30 million sale of The Villas at Happy Valley, a 435-bed student housing property located near the Penn State University campus in State College. Developed in 2013, the community offers 145 three-bedroom units. Franklin Street represented the seller, Keystone Real Estate Group, in the sale of the property to Reliant Group Management. The new ownership plans to begin renovations imminently on the community’s fitness center, clubhouse and unit interiors. Additional shared amenities include a pool, study room, sand volleyball court, game tables, outdoor grills and a fire pit. The Villas at Happy Valley was 93 percent leased at the time of sale.

August 22, 2025

Acquisitions California Industrial Western

PSRS Arranges $3.2M Sale of Industrial Property in San Diego

by Amy Works August 22, 2025

SAN DIEGO — PSRS has arranged the $3.2 million owner-user purchase of an industrial property located on Custer Street in San Diego. The 15,000-square-foot property is situated on two adjacent parcels and consists of metal-construction warehouse buildings. The deal was financed with a private lender and an SBA 504 loan, featuring a 91 percent loan-to-value ratio, a 25-year term and a 25-year amortization. Jen Mustard of PSRS arranged the transaction.

August 22, 2025

Acquisitions Midwest Ohio Retail

JLL Brokers Sale of 386,754 SF Shopping Center in Brooklyn, Ohio

by Kristin Harlow August 22, 2025

BROOKLYN, OHIO — JLL Capital Markets has brokered the sale of Ridge Park Square, a dual-grocery-anchored shopping center in Brooklyn near Cleveland. The 386,754-square-foot property is located at the intersection of I-480 and Ridge Road. Marc’s and Grocery Outlet are the grocery anchors. The center was 95 percent leased at the time of sale to tenants such as TJ Maxx, Ross Dress for Less, Dollar Tree, Five Below, AMC Theatres, Michaels and Ashley Furniture. Michael Nieder, Brian Page and Mohsin Mirza of JLL represented the seller, an affiliate of Zeisler Morgan Properties. The buyer was RCG Ventures LLC. The asset had never been marketed since its original development in 1989, according to Nieder.

August 22, 2025

Acquisitions Indiana Industrial Midwest

CBRE Arranges $5.3M Sale of Industrial Property in Bremen, Indiana

by Kristin Harlow August 22, 2025

BREMEN, IND. — CBRE has arranged the $5.3 million sale of a 142,914-square-foot industrial property at 833 Legner St. in Bremen, a city in northern Indiana. A building was fully leased with 6.3 years remaining on the lease to Patrick Industries, a manufacturer and supplier of interior and exterior component solutions for the RV, marine, powersport and housing markets. Situated on 9.7 acres, the facility features 16 grade-level doors with clear heights ranging from 12 to 24 feet. Kevin Foley, Austin Wolitarsky, Anthony DeLorenzo and Terry Busch of CBRE represented the private seller. The asset sold to a private, high-net-worth 1031 exchange buyer from California.

August 22, 2025

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