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Acquisitions

The-Storage-Center-Austin
AcquisitionsIndustrialSelf-StorageTexas

Marcus & Millichap Arranges Sale of Two Central Texas Self-Storage Facilities Totaling 2,473 Units

by Taylor Williams

SAN ANTONIO AND AUSTIN, TEXAS — Marcus & Millichap has arranged the sale of two self-storage facilities totaling 2,473 units in Central Texas. The properties are part of a portfolio of self-storage assets that also includes a 907-unit facility in Glendale, Ariz. The San Antonio property spans 88,325 net rentable square feet across 940 units, and the Austin property totals 147,200 net rentable square feet across 1,533 units. All three properties in the portfolio were constructed between 2020 and 2023 and predominantly feature climate-controlled space. Jon Danklefs of Marcus & Millichap represented the seller and original developer, Brookwood Properties, in the transaction and procured the buyer, UTEX Storage Partners.

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Urban-District-290-Houston
AcquisitionsIndustrialTexas

Urban Logistics Realty, Crow Holdings Sell 238,200 SF Industrial Park in Northwest Houston

by Taylor Williams

HOUSTON — A joint venture between Dallas-based Urban Logistics Realty and a fund backed by Crow Holdings has sold Urban District 290, a 238,200-square-foot industrial park in Houston. Located near the corner of State Highway 290 and Bingle Road on the city’s northwest side, the property consists of a 64,800-square-foot building and a 173,400-square-foot building with clear heights of 32 feet, speculative office space and ESFR sprinkler systems. Construction began in September 2022. Nathan Wynne and Jason Dillee with CBRE brokered the sale. The buyer was not disclosed.

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AcquisitionsRetailTexas

Silvestri Investments Buys 38,000 SF Retail Building Leased to 24 Hour Fitness in Spring, Texas

by Taylor Williams

SPRING, TEXAS — Houston-based Silvestri Investments Inc. has purchased a 38,000-square-foot retail building in Spring, a northern suburb of Houston, that is leased to 24 Hour Fitness. The building was constructed on 2.3 acres in 2019 within the CityPlace mixed-use development, and the gym includes a pool and basketball court. Ryan West, John Indelli, Alex Geanakos, Nick Franklin, Gianna New and Torri Rosene of JLL represented the undisclosed seller in the transaction and procured Silvestri Investments as the buyer.

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AcquisitionsIndustrialTexas

Colliers Brokers Sale of 16,141 SF Industrial Flex Building in Tomball, Texas

by Taylor Williams

TOMBALL, TEXAS — Colliers has brokered the sale of a 16,141-square-foot industrial flex building in the northeastern Houston suburb of Tomball. The building at 2121 Persimmon St., which is located on 2.5 acres within Tomball Business & Technology Park, was completed in 2023, according to LoopNet Inc. Tom Condon Jr. of Colliers represented the seller, KTB Properties LLC, in the transaction. Al Gosen of Texas United Realty represented the buyer, an entity doing business as W E Mauney LLC.

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AcquisitionsMultifamilySoutheastVirginia

Shoreham Capital Purchases Infinity Apartment Homes in Arlington, Virginia for $51M

by John Nelson

ARLINGTON, VA. — Shoreham Capital has purchased Infinity Apartment Homes, a multifamily community in Arlington, for $51 million. Located within the Columbia Pike Corridor near Amazon’s HQ2 project, the property features 227 units in a mix of studio, one-, two- and three-bedroom layouts. Amenities at Infinity Apartment Homes include a swimming pool, fitness center, resident lounge, bike storage, package lockers and a business center. Robert Dean and Jonathan Greenberg of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the undisclosed seller in the transaction. Cameron Chalfant and Tyler Johnson of IPA arranged a $35 million acquisition loan on behalf of Shoreham. The property recently underwent significant upgrades to unit interiors, security systems, fixtures and finishes.

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AcquisitionsDevelopmentGeorgiaIndustrialSoutheast

Dermody Properties Acquires 61,000 SF Logistics Facility Near Atlanta, Plans 93,320 SF Addition

by John Nelson

SUWANEE, GA. — Dermody Properties has acquired 3851 Lakefield Drive and an adjacent 10-acre parcel in Suwanee, approximately 30 miles northeast of Atlanta. Florida Food Products LLC sold the property, which features an existing 61,000-square-foot logistics facility, for an undisclosed price. Matt Wirth and Jim Freeman of JLL Capital Markets represented the seller in the transaction, and Dermody Properties was self-represented. Florida Food Products previously occupied the property and is consolidating operations at another regional facility. The building features upgraded office space, a 10-inch floor slab and a 105-mil roof. Additionally, Dermody Properties will develop a new, 93,320-square-foot logistics facility on the unoccupied land parcel. Construction is scheduled to begin early next year, and the building will be available for occupancy in the fourth quarter of 2025.

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AcquisitionsGeorgiaMultifamilySoutheast

GREA Brokers $36.7M Sale of Aqua Sandy Springs Apartment Community in Metro Atlanta

by John Nelson

SANDY SPRINGS, GA. — Global Real Estate Advisors (GREA) has brokered the $36.7 million sale of Aqua Sandy Springs, an apartment community located at 100 Greyfield Lane in Sandy Springs, roughly 15 miles outside Atlanta. An entity doing business as Sandy Springs Residences II LLC acquired the property from an entity doing business as 29SC RN Property Owner LLC. Chandler Brown, Cory Sams and Taylor Brown of GREA represented the seller in the transaction. Built in 1985 and 2000, Aqua Sandy Springs features 219 units in one-, two- and three-bedroom floorplans. The new owner plans to implement a value-add program at the property, which is situated near Atlanta’s Central Perimeter district, downtown Roswell and Alpharetta.

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AcquisitionsFloridaRetailSoutheast

Marcus & Millichap Arranges $10.8M Sale of Retail Center in Orlando

by John Nelson

ORLANDO, FLA. — Marcus & Millichap has arranged the $10.8 million sale of Turkey Lake Plaza, a retail center located at 7858 Turkey Lake Road in Orlando. Built in 2010, the property totals 19,719 square feet. Turkey Lake Plaza was leased to 12 tenants at the time of sale, including Gyu-Kaku Japanese BBQ. Tarek Chbeir of Marcus & Millichap procured the buyer, a local investor, in the transaction. The seller was also not disclosed.

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AcquisitionsNew JerseyNortheastRetail

Montana Property Group Buys 84,933 SF Shopping Center in Voorhees, New Jersey

by Taylor Williams

VOORHEES, N.J. — New York City-based investment firm Montana Property Group has purchased Echelon Village Plaza, an 84,933-square-foot shopping center located in the Southern New Jersey community of Voorhees. The center was 92 percent leased at the time of sale to tenants such as Edge Fitness, Dollar Tree and Buffalo Wild Wings. Ohio-based REIT Site Centers sold the property for $8.5 million. Boston-based Atlantic Retail brokered the deal.

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AcquisitionsMidwestMissouriMultifamily

Northmarq Negotiates Sale of 212-Unit Westpark Multifamily Property in St. Louis

by Kristin Harlow

ST. LOUIS — Northmarq has negotiated the sale of Westpark Apartment & Townhomes, a 212-unit garden-style multifamily property in St. Louis. Located at 11409 Tivoli Lane, the community was largely built between 1996 and 2006 with a portion developed in 1969. Units range from 800 to more than 2,000 square feet. Amenities include a pool, fitness center, playground and basketball court. Dominic Martinez, Parker Stewart, Charlie McKee and Alex Malzone of Northmarq represented the seller, a locally based private investor, and the buyer, a national owner/operator of multifamily properties.

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