FORT WORTH, TEXAS — Dallas-based brokerage firm Younger Partners has arranged the sale of a four-acre industrial development site on the east side of Fort Worth. The site at 2525 Handley Ederville Road offers proximity to both I-820 and State Highway 121 and formerly housed a 150,000-square-foot Advanced Foam Recycling facility. That property was destroyed in a fire in 2021, and the facility was subsequently razed. Michael Ytem of Younger Partners represented the seller, BridgeCap Partners, in the deal. Forrest Cook of Stream Realty Partners represented the buyer, an entity doing business as G-Catch LLC. The sales price and future plans for the site were not disclosed.
LACEY, WASH. — TMR Investments has purchased The Village at Union Mills, an apartment property located at 8146 Sweetbrier Lane SE in Lacey. Terms of the transaction were not released. The Village at Union Mills offers 182 apartments. TMR has budgeted $4.1 million to execute a value-add repositioning strategy for the property. The planned investments include enhancements to the fitness center, clubhouse and outdoor amenity spaces, the addition of electric vehicle charging stations and rebranding. Planned interior unit renovations include the addition of stainless steel appliances, stone countertops and contemporary lighting and hardware.
ILLINOIS AND INDIANA — Alterra IOS has acquired three industrial outdoor storage (IOS) sites totaling 14 acres in metro Chicago for an undisclosed price. The parcels include 2201 E. Higgins Road in Elk Grove Village, Ill.; 22634 S. Frontage Road in Minooka, Ill.; and 300 W. Chicago Ave. in East Chicago, Ind. All three properties are fully leased to a company in the equipment rental industry and feature more than 30,000 square feet of accompanying warehouse space. Alterra’s industrial real estate platform, Alterra IOS, is focused on heavy industrial and outdoor storage space.
PLATTEVILLE, WIS. — Marcus & Millichap has brokered the $4 million sale of a 29-unit multifamily portfolio in Platteville, a city in western Wisconsin. The portfolio comprises Pioneer Bluff, built in 1890; Pioneer Ridge, constructed in 1997; and Pioneer Court, built in 1997. There are 27 four-bedroom units and two two-bedroom units. Nearly all of the units in Pioneer Ridge are furnished. Patrick Suffield of Marcus & Millichap represented the seller and the 1031 exchange buyer. Todd Lindblom, broker of record in Wisconsin, assisted in closing the transaction.
UNION CITY, TENN. — An affiliate of Phoenix Investors has acquired a 411,489-square-foot industrial complex located in Union City, a city in the northwestern corner of Tennessee. MVP Group International sold the property, which is located at 600 E. Sherwood Drive, for an undisclosed price. Built in 1985 and renovated in 1995, the development comprises roughly 398,000 square feet of warehouse space, as well as 13,500 square feet of office space and a 2,200-square-foot breakroom. The building features 18 dock doors, clear heights of up to 28 feet, two compressors and an extensive racking system. Phoenix Investors plans to implement a capital improvement plan at the property.
LOUISVILLE, KY. — Marcus & Millichap has brokered the $6.9 million sale of Germantown Village Apartments, a multifamily community in Louisville. Located on 2.7 acres at 630 E. Kentucky St., Germantown Village spans 66,300 rentable square feet across 100 one-bedroom units. Aaron Kuroiwa and Sam Kramer of Marcus & Millichap represented the seller, Strategic Advisors LLC, in the transaction and procured the buyer, BlackOak Equity Management. Grant Fitzgerald assisted in closing the sale as Marcus & Millichap’s broker of record in Kentucky. The seller recently completed comprehensive upgrades to the community, which was originally built in 1960.
POMONA, CALIF. — CP Capital has sold The Gabriel, a 312-unit apartment community in Pomona, approximately 30 miles west of Los Angeles. The property is situated at 2771 N. Garey Ave., adjacent to the Pomona North Metrolink Station. The buyer and sales price were not disclosed. The Gabriel was completed in 2022. The four-story development offers apartments featuring stainless steel appliances, quartz countertops, plank flooring and smart home technology such as Honeywell Wi-Fi thermostats, community video intercoms, Brivo keyless entry in common areas and ButterflyMX virtual keys. According to Apartments.com, units come in one-, two- and three-bedroom floor plans with monthly rental rates starting at $2,285. Community amenities include a pool and spa, fitness center, onsite retail, four courtyards with fruit trees and outdoor seating, fire pits, outdoor grills, a clubroom, rideshare lounge, entertainment lounge, dog park, pet wash station, package lockers and covered bike storage. The property was 94 percent occupied at the time of sale. “The multifamily sector has faced challenges in recent years, but we remain optimistic due to its resilience amidst economic uncertainty and the heightened levels of renter demand that should persist long after the current wave of new supply is fully absorbed,” says Kristi …
ROUND ROCK, TEXAS — Matthews Real Estate Investment Services, a California-based brokerage firm, has negotiated the sale of a 270-unit self-storage facility in the northern Austin suburb of Round Rock. Life Storage operates the facility at 506 McNeil Road, which was originally constructed in 1980 and totals 28,450 square feet of net rentable space. Austin McLeod of Matthews represented the undisclosed seller in the transaction. The buyer and sales price were also not disclosed.
SPRING, TEXAS — California-based brokerage firm Hanley Investment Group (HIG) has arranged the sale of a 14,490-square-foot retail building in the northern Houston suburb of Spring that is net leased to Walgreens. The building was constructed in 2001 and is an outparcel to a Kroger-anchored shopping center. Kevin Fryman, Garrett Wood and Ed Hanley of HIG, in association with ParaSell Inc., represented the seller, a Houston-based private investor, in the transaction. Melissa Gerber Brams of Gerber Realty represented the Louisiana-based buyer. Both parties requested anonymity.
HAMILTON, N.J. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the $116.5 million sale of Hamilton Marketplace, a 485,094-square-foot shopping center located in Central New Jersey. A 65,155-square-foot ShopRite grocery store anchors the property, which was built in phases beginning in the early 2000s. Other tenants at the center include Kohl’s, Ross Dress for Less, Staples, Barnes & Noble, Michaels, Old Navy, Ulta Beauty, Burlington and PetSmart. Paramount Realty acquired the property from SITE Centers. Brad Nathanson and JP Colussi of IPA brokered the deal.