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Acquisitions

AcquisitionsHospitalitySouth CarolinaSoutheast

Marcus & Millichap Negotiates $12.9M Sale of AVID Hotel in Summerville, South Carolina

by John Nelson

SUMMERVILLE, S.C. — Marcus & Millichap has negotiated the $12.9 million sale of AVID Summerville, a 95-room hotel located at 301 Holiday Drive in Summerville, roughly 23 miles from Charleston. The AVID hotel, which opened in 2021 off I-26, includes a 24-hour gym, 24-hour market with grab-and-go breakfast items and complimentary Wi-Fi. Jack Davis, Sam Gardner, Chase Dewese, Chris Gomes, Skyler Cooper, Joce Messinger and Allan Miller of Marcus & Millichap represented the seller in the transaction. Davis, Messinger and Dewese also procured the buyer. Both parties requested anonymity.

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Blackline-Cold-Storage-Baytown
AcquisitionsIndustrialTexas

JLL Brokers Sale of 297,640 SF Cold Storage Facility in Baytown, Texas

by Taylor Williams

BAYTOWN, TEXAS — JLL has brokered the sale of Blackline Cold Storage, a 297,640-square-foot facility located in the eastern Houston suburb of Baytown. Built in 2022 within the Cedar Port Industrial Park master-planned development, the facility features 45-foot clear heights, 22 dock doors, over 36,000 pallet positions and an ESFR sprinkler system. Trent Agnew, Will Mogk, Keenan Ryan and Clay Anderson of JLL represented the undisclosed seller in the transaction. The buyer was Atlanta-based cold storage owner-operator Americold Realty Trust.

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AcquisitionsMultifamilyTexas

Greysteel Arranges Sale of 116-Unit Candle Chase Apartments in Southwest Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Greysteel has arranged the sale of Candle Chase Apartments, a 116-unit apartment complex in southwest Fort Worth that was built in 1969. According to Apartments.com, the property offers one- and two-bedroom units that range in size from 715 to 1,198 square feet. Doug Banerjee and Sterling Warren of Greysteel represented the seller, Epic Capital Partners, in the transaction. The buyer, an entity doing business as Delara Chase LLC, has rebranded the property as Delara Chase Apartments.

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2829-2843-Hyperion-Ave-Los-Angeles-CA
AcquisitionsCaliforniaRetailWestern

Bolour Associates Acquires Retail Center in Los Angeles’ Silver Lake District for $6.5M

by Amy Works

LOS ANGELES — Bolour Associates has purchased a neighborhood retail center in the Silver Lake district of Los Angeles from an undisclosed seller for $6.5 million. Located at 2829-2843 Hyperion Ave., the value-add property offers 9,884 square feet of retail space. At the time of sale, the property was 50 percent leased to a mix of tenants, including Pinkberry, Standing Egg Coffee, Cats and Dogs and The Village Vet. Bolour plans to complete both exterior capital improvements and interior tenant improvements at the center. Oron Maher of Maher Commercial Realty represented the seller in the transaction.

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9421-Haven-Ave-Rancho-Cucamonga-CA
AcquisitionsCaliforniaOfficeWestern

CBRE Brokers $6.3M Sale of Office Building in Rancho Cucamonga, California

by Amy Works

RANCHO CUCAMONGA, CALIF. — CBRE has negotiated the sale of a two-story office building located at 9421 Haven Ave. in Rancho Cucamonga. A local owner-user acquired the asset from FJKC Investment LLC for $6.3 million. The 20,600-square-foot building was vacant at the time of sale. Sammy Cemo, Austin Reuland and Anthony DeLorenzo of CBRE represented the seller in the deal.

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3312-3314-3318-Burton-Ave-Burbank-CA
AcquisitionsCaliforniaIndustrialWestern

Dunleer Buys Two-Building Warehouse Property in Burbank, California for $5M

by Amy Works

BURBANK, CALIF. — Los Angeles-based Dunleer has purchased a two-building warehouse asset, located at 3312-3314 and 3318 Burton Ave. in Burbank, from a local family for $5 million, or $283 per square foot. Chad Gahr and David Young of NAI Capital represented the buyer, while Mike Maniscalchi of Systems Real Estate represented the seller. At the time of sale, the 17,726-square-foot property was 67 percent vacant. The asset features three units and is adjacent to the Hollywood Burbank Airport.

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AcquisitionsMichiganMidwestRetail

CrownPoint Partners Brokers Sale of 14,933 SF Retail Property in Southgate, Michigan

by Kristin Harlow

SOUTHGATE, MICH. — CrownPoint Partners has brokered the sale of a newly constructed retail property occupied by Range USA in Southgate for an undisclosed price. The single-tenant, net-leased asset totals 14,933 square feet and is situated on 2.2 acres at 12780 Reeck Road just off I-75. Julius Swolsky and Shannon Bona of CrownPoint represented the seller, CA Commercial Development, and the buyer, FrontView REIT. Founded in 2012, Range USA operates indoor shooting ranges. The Southgate location, which opened in January 2023, features 20 shooting lanes.

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AcquisitionsHospitalityMidwestWisconsin

Marcus & Millichap Arranges $2.5M Sale of Oasis Hotel in Sheboygan Falls, Wisconsin

by Kristin Harlow

SHEBOYGAN, WIS. — Marcus & Millichap has arranged the $2.5 million sale of the 45-room Oasis Hotel in Sheboygan Falls. The seller, a first-time hotel owner, acquired the property in 2022 and removed the flag, completed a full renovation and operated it as an independent hotel before deciding to exit. Built in 1988, the asset is located on 2.8 acres at 600 N. Main St. Reed Gizinski, Jon Ruzicka and Joseph Ferguson of Marcus & Millichap represented the seller and procured the undisclosed buyer.

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AcquisitionsGeorgiaOfficeSoutheast

Landmark, Westlake Capital Acquire 536,547 SF Office Campus in Atlanta’s Buckhead District

by John Nelson

ATLANTA — A joint venture between a nationally prominent developer of student housing, Landmark Properties, and its family office, Westlake Capital, has acquired Northcreek Office Park, a 536,547-square-foot office campus in the Buckhead neighborhood of Atlanta. Richard Reid of JLL represented the seller in the transaction. The sales price was also not disclosed. Landmark Properties plans to utilize some of the office space to accommodate its growing Atlanta workforce while maintaining its headquarters in Athens, Ga., as well as its existing executive offices at nearby Buckhead Plaza. Situated on about 40 acres, the four-building campus was renovated from 2003 to 2009 and comprises a roster of more than 70 tenants. The property features a range of onsite amenities including a café, conference and meeting facility, fitness center and 24/7 security with key-card access. Landmark plans to revitalize the common area within Northcreek Office Park to enhance tenant amenities. Additionally, Regent Partners will relocate its corporate office to Northcreek Office Park to continue serving as its property manager and leasing agent.

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AcquisitionsFloridaRetailSoutheast

Marcus & Millichap Brokers Sale of 81,082 SF Shopping Center in Tallahassee

by John Nelson

TALLAHASSEE, FLA. — Marcus & Millichap has brokered the sale of Market Square, an 81,082-square-foot shopping center located in Tallahassee’s Market District, roughly four miles from Florida State University. The asset traded for more than $330 per square foot. The property — which was originally built in 1977 and renovated in 2021 — is anchored by a 22,000-square-foot REI. Additional tenants at the property include Sanitas Medical Center, Connors Steak & Seafood, a medical spa and Southern Seafood Market. Alvin Mansour and Jon Talia of The Mansour Group of Marcus & Millichap represented the private seller and procured the Florida-based buyer in the transaction. Ryan Nee is Marcus & Millichap’s broker of record in Florida.

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