Acquisitions

M2 at Millenia

ORLANDO, FLA. — JLL Capital Markets has brokered the sale of M2 at Millenia, a 403-unit mid-rise, multifamily apartment complex in Orlando, which is adjacent to The Mall at Millenia. Ted Taylor and Kyle Butler of JLL’s Investment Sales and Advisory team represented the sellers, JSB Capital Group and BLD Group. The buyer, Independence Realty Trust, purchased the property for an undisclosed price. Built in 2019, M2 at Millenia is a five-story property offering a mix of one-, two- and three-bedroom floorplans ranging in size from 714 square feet to 2,214 square feet, according to Apartments.com. Amenities include a resort-style swimming pool, 24-hour fitness center, yoga studio, entertainment lounge with a kitchen and bar, outdoor grilling areas and 4,216 square feet of ground-floor retail space.

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INC @ 2401

CHARLOTTE, N.C — CBRE has negotiated the sale of INQ @ 2401, a 162,372-square-foot office building located in the Crown Point neighborhood of Charlotte. Patrick Gildea, Matt Smith, Joe Franco and Stephanie Spivey of CBRE represented the sellers, DRA Advisors and Mainstreet Capital, in the transaction. Messer Financial, a long-term tenant that brought the property to full occupancy, was the buyer. The sales price was not released. Originally constructed in 1989 and renovated in 2016 with nearly a $6 million investment, the single-story building can now accommodate larger, back-office users and features 25-foot vaulted ceilings and direct tenant access.

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ST. JOHNS, FLA. — SRS Real Estate Partners has arranged the $5.6 million sale of Beachwalk Shoppes, an 8,200-square-foot retail strip center located in St. Johns, a suburb of Jacksonville. The newly constructed retail center is part of the larger 1,200-acre mixed-use Beachwalk project currently under development. The property was fully leased at the time of sale to five tenants: Bagels R Us, Goin’ Postal, Fancy Sushi, Deca Dental and Playa Bowls. Patrick Nutt and William Wamble of SRS Capital Markets represented the seller, a national development and investment firm, in the transaction. The buyer was an Atlanta-based private investor. Both parties requested anonymity.

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SPRING, TEXAS — Locally based brokerage firm Oxford Partners has arranged the sale of an 18,000-square-foot industrial flex building in Spring, a northern suburb of Houston. According to LoopNet Inc., the single-tenant building at 1271 Rayford Bend Road was constructed on 2.5 acres in 2013. Nathan Buckhoff and Matt Rogers of Oxford Partners represented the seller, Texas Properties Ltd., in the transaction. Kevin Caywood of Stream Realty Partners represented the undisclosed buyer.

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Dunwoody Village

DUNWOODY, GA. — Marcus & Millichap Capital Corp. (MMCC) has arranged $4 million in acquisition financing for Dunwoody Village, a 15,382-square-foot retail center located at 1610-1614 Mount Vernon Road in Dunwoody, a suburb of Atlanta. David Johnson of MMCC’s Atlanta office secured the loan with a national bank on behalf of a private client. The five-year loan includes a 6.41 percent interest rate with a 30-year amortization schedule. Shadow-anchored by The Fresh Market and Walgreens, Dunwoody Village features a mix of tenants including CVS Pharmacy, Chipotle Mexican Grill and a pet store.

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Shops-at-Atlas-Park-Queens

NEW YORK CITY — New York City-based owner-operator Ashkenazy Acquisition Corp. has purchased The Shops at Atlas Park, a 374,000-square-foot, open-air shopping center in Queens. The Shops at Atlas Park is situated on a 12-acre site at the intersection of Cooper Avenue and 80th Street. Anchored by Regal Cinemas, the center is home to a mix of both national and local operators, as well as an array of food-and-beverage users. Los Angeles-based owner-operator Macerich sold the property in conjunction with an unnamed partner. ACORE Capital provided acquisition financing for the deal.

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Belmont-Distribution-Center

BELMONT, N.J. — CBRE Investment Management has acquired Belmont Distribution Center, a 200,000-square-foot industrial facility in Northern New Jersey. Completed in 2023, Belmont Distribution Center features a clear height of 40 feet, 130-foot truck court depths, 46 loading positions and parking for 138 cars and 29 trailers. The facility is also divisible for multiple tenants. The seller was a fund backed by Brookfield Properties. The sales price was not disclosed.

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CONCORD, N.H. — National brokerage firm CrownPoint Partners has negotiated the $7.5 million sale of a 65,868-square-foot, single-tenant retail building in Concord. Grocer Shaw’s has occupied the building since its original construction on a 10.6-acre site in 2001. Julius Swolsky and Shannon Bona of CrownPoint, in association with ParaSell Inc., represented the seller, an affiliate of New Jersey-based investment firm ARCTRUST, in the transaction. Horvath & Tremblay represented the buyer, a Massachusetts-based private investor.

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NORTH FAYETTE TOWNSHIP, PA. — Outrigger Industrial, in partnership with Midloch Investment Partners, has purchased a 99,500-square-foot building in North Fayette Township, located just west of Pittsburgh. The building at 1200 International Drive, which was constructed in 2023 and has 17 loading doors, was 60 percent leased to three tenants at the time of sale. The new ownership has tapped Cushman & Wakefield to lease the remaining space.

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Villas-on-24th-Austin

AUSTIN, TEXAS — Core Spaces has acquired Villas on 24th, a 670-bed student housing community located at 2313 Rio Grande St. in the West Campus neighborhood of Austin. The development opens this month and offers 199 units in studio through six-bedroom configurations with bed-to-bath parity for students attending the University of Texas at Austin. Shared amenities include a rooftop pool and hot tub with lounge seating and grills; a fitness center with an indoor basketball court; outdoor fitness spaces and saunas; and private meeting rooms and coworking spaces. Villas Student Housing developed the property. TSB Capital Advisors consulted on financing for the acquisition.

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