ROBBINSVILLE, N.J. — LBA Logistics has acquired a single-tenant warehouse and manufacturing facility in Robbinsville for $13.5 million. Located at 8 Applegate Drive, the 30-acre property was built in 2001 and includes six loading docks and a drive-in door. The facility is currently fully occupied by adhesive manufacturing company Nordson. John Plower of JLL Capital Markets represented the seller, HB4 LLC, in the transaction.
WORCESTER, MASS. — Marcus & Millichap has arranged the sale of a nine-unit apartment building in Worcester. The property sold for $710,000. Located at 148-152 Millbury St., the three-story property was built in 1920. Matthew Pierce of Marcus & Millichap’s Boston office represented the seller, a private investor, in the transaction. The buyer was also a private investor. The 11,505-square-foot building also includes ground-floor retail that is currently occupied by Three G’s Sportsbar.
SAN ANTONIO — Hartman vREIT XXI Inc. has purchased the Spectrum Building, a 10-story office asset located at 613 N.W. Loop 410 in San Antonio’s North Central submarket, for $16.5 million. The sales price, which included a buyer’s auction premium, equates to about $94 per square foot. The 175,314-square-foot office building was 87.7 percent leased at the time of sale. The seller was not disclosed.
NORTH ARLINGTON, TEXAS — The Praedium Group has purchased Arlington Commons, a 353-unit apartment community in North Arlington. The seller and sales price were not disclosed, but The Dallas Morning News reports Nehemiah Co. was the developer. Built in 2018, the four-story building features an attached parking garage, swimming pool with a tanning shelf, resident lounge and business center within the clubhouse, wellness center with fitness on-demand, valet trash, elevators, dog park with dog wash station, electronic parcel lockers and a lounge deck with barbecue grills. Arlington Commons’ unit mix consists of one- and two-bedroom residences ranging from 580 to 1,418 square feet. Unit interiors include 10- to 12-foot ceilings, granite or quartz countertops, stainless steel appliances, undermount sinks, designer backsplashes, chrome finishes, electronic door entry, vinyl plank wood flooring, custom track lighting, full-size washers and dryers and balconies or patios.
FORT WORTH, TEXAS — Marcus & Millichap has brokered the sale of Beach Street Business Park, an 11-building flex industrial park located near Interstate 35 in Fort Worth. Built in 2004, the complex was fully leased at the time of sale. Cody Payne of Marcus & Millichap’s Fort Worth office secured the buyer, a private investor, in the transaction. The seller and sales price were not disclosed.
CHARLOTTE, N.C. — Preferred Apartment Communities Inc. (PAC) has acquired Capitol Towers, a 477,704-square-foot office complex in Charlotte’s SouthPark neighborhood. Charlotte Business Journal reported that the two 10-story buildings sold for $209 million. PAC purchased the asset through its subsidiary, Preferred Office Properties LLC. At the time of sale, PAC signed an undisclosed tenant to a 33,000-square-foot lease, bringing the project to 95 percent occupancy. Campbell Walker of Lincoln Harris represented the landlord in the transaction, and Chris Schaaf and Jim Thorp of JLL represented the tenant. Capitol Towers is located about six miles south of downtown Charlotte. New York Life Insurance Co. provided acquisition financing to PAC, which has retained Lincoln Harris to lease and manage the property.
ALPHARETTA, GA. AND TAMPA, FLA. — Highwoods Properties has sold Two Point Royal, a 124,000-square-foot building in Alpharetta, and Highwoods Preserve I, a 199,000-square-foot building in northeast Tampa, for a combined $54.5 million. The office buildings were 91 percent leased at the time of the sale. The undisclosed buyer has retained Highwoods as property manager of Highwoods Preserve I.
FORT MILL, S.C. — Capital Square 1031 has bought CompuCom Systems’ world headquarters in South Carolina for $39 million from The Keith Corp. and MPV Properties. The three-story, 154,000-square-foot building is located in Fort Mill, about five miles south of Charlotte’s Ballantyne neighborhood, and is fully leased to CompuCom through 2032. CompuCom Systems provides end-to-end managed services, technology and consulting to enable the digital workplace for enterprise, midsize and small businesses. Rob Cochran, Jared Londry and Nolan Ashton of Cushman & Wakefield represented the sellers in the transaction.
MOUTAIN BROOK AND VESTAVIA HILLS, ALA. — Publix Super Markets will acquire two Western Supermarket locations in Alabama as the grocer expands its Birmingham footprint. The location in Vestavia Hills, about nine miles south of downtown Birmingham, will open as a Publix grocery store. The location in Mountain Brook, four miles south of downtown Birmingham, will open as a GreenWise Market. GreenWise Market is a specialty, natural and organic store featuring a variety of house-prepared meals and grab-and-go items. It is the seventh announced GreenWise Market and is expected to open in third-quarter 2019. The other location will be torn down and rebuilt into a 35,000-square-foot Publix. An opening date has not been announced. The sales prices of the properties were not disclosed.
LAKE CHARLES, LA. — Chase Properties has purchased Prien Lake Shopping Center in Lake Charles. The 135,000-square-foot shopping center is anchored by Marshalls, Ross Dress for Less and Bed Bath & Beyond. The seller and sales price were not disclosed. CBRE brokered the sale.