NEW YORK CITY — Cushman & Wakefield has brokered the $1.9 million sale of a two-story warehouse in the South Bronx. Located at 585 Jackson Ave., the 10,020-square-foot property includes two garage doors, gas heat and 50 feet of street frontage. Jonathan Squires and Michael Fioravanti of Cushman & Wakefield represented the undisclosed seller in the transaction. The buyer was also undisclosed.
BROWNSVILLE, TEXAS — San Diego-based investment firm PacVentures has acquired a portfolio of 10 industrial properties totaling 811,092 square feet in the South Texas city of Brownsville. The portfolio was 96 percent leased at the time of sale to multiple tenants, including windshield wiper provider Trico and its affiliate, Carter Fuel Systems. Steve Rowland of Transwestern and Joe Simmons of AQUILA Commercial represented PacVentures in the transaction. The seller was regional investment firm Sealy & Co.
HOUSTON — NAI Partners has brokered the sale of a 71,566-square-foot industrial building located at 4545 Langfield Road in northwest Houston. According to LoopNet Inc., the property features 26-foot ceiling heights, 15 dock-high doors and 13,920 square feet of office space. Randy Wilhelm and John Ferruzzo of NAI Partners represented the buyer in the transaction. Bill Rudolf of CBRE represented the seller. Both parties requested anonymity.
LAKEWOOD, COLO. — Newmark Knight Frank Multifamily has negotiated the sale of West Line Flats, a newly delivered Class A multifamily asset in Lakewood. 6500 W. 13th Denver LLC sold the property to an undisclosed buyer for $40.2 million. Located at 6500 13th Ave., the property offers 155 apartments featuring sliding barn doors, granite countertops, Energy Star appliances, wood-style flooring, walk-in closets, stacked full-size washers and dryers, and private balconies or patios. Community amenities include a rooftop deck with hot tub and fire pit, a 24-hour fitness center with a yoga and barre studio, detached garages, a ski and bike tune-up shop, and a dog park. West Line Flats was jointly developed by Oak Brook, Ill.-based Inland National Development Co. and Colorado-based Momentum Development.
PHOENIX — Cushman & Wakefield has arranged the sale of Zen Senior Living, a 99-unit seniors housing community in Phoenix’s Paradise Valley neighborhood. Investment Concepts Inc., a California-based investor, acquired the property from FPA5 Paradise Village, an entity of San Francisco-based FPA Multifamily. The price was $12 million. The two-story, garden-style community was built in 1985 but recently underwent a $1.6 million renovation project. Floor plans average 846 square feet. Jim Crews from the Cushman & Wakefield Phoenix office represented the seller.
FORT COLLINS, COLO. — FourPoint Student Housing Investments has arranged the sale of Stadium Apartments, a 389-bed student housing community located near Colorado State University in Fort Collins. The property offers fully furnished units with shared amenities including outdoor hot tubs, a fitness center, clubhouse and rooftop lounge. Chris Epp, Chris Bancroft and Meredith Wolff of FourPoint represented the seller, CSU Student Housing, in the transaction. A joint venture between an affiliate of Heitman and Timberline Real Estate Ventures acquired the property for an undisclosed price.
NOVATO, CALIF. — Marcus & Millichap has negotiated the purchase of Diablo Plaza, a retail property located in Novato. A limited liability company acquired the asset for $5.6 million. Ethan Pintard of Marcus & Millichap represented the buyer in the deal. The seller was not disclosed. Located at 975 Diablo Ave., the 10,948-square-foot property was fully leased at the time of sale. Tenants include Panda Express, Orangetheory Fitness and Domino’s. The 38,202-square-foot lot also includes 46 parking spaces.
NEWBURGH, IND. — Marcus & Millichap has brokered the sale of a 560-unit self-storage facility in Newburgh in southwestern Indiana. The sales price was not disclosed. The facility, located at 6998 Loehr Road, spans 74,562 square feet. The property includes 88 climate-controlled units, 411 drive-up units and 61 parking spaces. Jeffrey Herrmann, Sean Delaney and Michael Mele of Marcus & Millichap marketed the property on behalf of the undisclosed sellers. The team also secured and represented the buyer, Iron Gurad Storage.
JACKSONVILLE, FLA. — Plymouth Industrial REIT Inc. has signed a definitive agreement to acquire a 20-building, 1.1 million-square-foot light industrial and flex portfolio in south Jacksonville for $97.1 million. Plymouth Industrial will fund the acquisition using approximately $63 million in short-term borrowings from KeyBank Real Estate Capital and about $34 million in equity from an affiliate of Madison International Realty Holdings LLC. The acquisition is expected to close in December. The portfolio is currently 96 percent leased to 40 tenants such as Comcast, Veritiv, Cintas, Alstom, Staples, Cardinal Health, The Home Depot, Johnson Controls, Safelite AutoGlass and Shaw. The portfolio has a weighted average lease term of over three years remaining. The seller was undisclosed.
MONROE, N.C. — Big V Property Group has acquired Poplin Place, a 227,669-square-foot shopping center located in the southern Charlotte suburb of Monroe, for $28.3 million. Poplin Place was 94 percent leased at the time of the sale to tenants including T.J. Maxx, Ross Dress for Less, Big Lots and PetSmart, and is shadow-anchored by Target. Charlotte-based Berkeley Capital Advisors represented the seller, InvenTrust Properties, in the transaction.