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Acquisitions

19529-E-Cypress-St-Covina-CA
AcquisitionsCaliforniaMultifamilyWestern

Marcus & Millichap Brokers Sale of Cypress Villa Apartment Property in Covina, California

by Amy Works

COVINA, CALIF. — Marcus & Millichap has arranged the sale of Cypress Villa, a multifamily community at 19529 E. Cypress St. in Covina. Forgette Family Trust sold the asset to SRI Properties LLC for $2.8 million. Built in 1984, Cypress Villa offers 11 two-bedroom/one-bath units with central air conditioning and heat, two parking spaces per unit and access to an onsite laundry room. Additionally, each unit is individually metered for gas and electricity. Douglas McCauley and David Covarrubias of Marcus & Millichap represented the seller and procured the buyer in the deal.

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AcquisitionsIllinoisIndianaMichiganMidwestOhioRetail

Eidi Properties Acquires 39 Shopping Centers Totaling 650,257 SF in Six States

by Kristin Harlow

TOLEDO, OHIO — Toledo-based Eidi Properties has acquired 39 shopping centers totaling 650,257 square feet across Illinois, Florida, Virginia, Michigan, North Carolina and Indiana. The transaction, which features a mix of power centers, grocery-anchored plazas and community hubs, brings Eidi’s portfolio to nearly 80 retail properties totaling more than 1.5 million square feet. Dembs-Roth Development was the seller. Joel Jerger of WesBanco, Andy Maher and Brian White of Waterford Bank NA, as well as John Skeldon and Joe Bajas of Cooperative Business Services, all based in Toledo, arranged acquisition financing for the deal. Anthony Calamunci and Gordon Thomas of FisherBroyles served as legal counsel on behalf of Eidi, and Brian Raznick of Taft Law represented the seller.

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AcquisitionsIndustrialNortheastPennsylvania

Greek Real Estate Buys 141,276 SF Logistics Facility in Croydon, Pennsylvania

by Taylor Williams

CROYDON, PA. — Regional investment firm Greek Real Estate Partners has purchased Everest Logistics Park, a 141,276-square-foot facility in Croydon, a northeastern suburb of Philadelphia. Penwood Real Estate Investment Management sold the asset for $36.7 million. Built on 10 acres in 2023, the facility offers a clear height of 36 feet, 20 tailgate doors, one drive-in door, 3,000 square feet of office space and parking for 260 cars and 31 trailers. Burry Klein and Josh Chesner of Branch Industrial represented Greek Real Estate, which has also executed a full-building lease expansion with the existing tenant, Philadelphia-based PCI Pharma, in the off-market transaction.

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AcquisitionsMassachusettsNortheastRetail

Marcus & Millichap Brokers $7.2M Sale of Retail Strip Center in Leominster, Massachusetts

by Taylor Williams

LEOMINSTER, MASS. — Marcus & Millichap has brokered the $7.2 million sale of Leominster Plaza, a 20,279-square-foot retail strip center located about 50 miles west of Boston. Urgent care provider ConvenientMD anchors the center, and other tenants include GEICO, ARA Leominster Dialysis and Kids Care+. Adam Cohen and Brett Kilar of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

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AcquisitionsFloridaMultifamilySoutheast

Marcus & Millichap Brokers $6.2M Sale of Multifamily Community in Royal Palm Beach, Florida

by John Nelson

ROYAL PALM BEACH, FLA. — Marcus & Millichap has brokered the $6.2 million sale of Timbercreek Townhomes and Villas, a 20-unit multifamily community located at 100 Sparrow Drive in Royal Palm Beach, about 12 miles west of West Palm Beach. Evan Kristol and Brandon Rex of Marcus & Millichap represented the seller, a private syndicator, and procured the buyer, a California-based investment group, in the transaction. The buyer purchased the community as part of a 1031 exchange. Both parties requested anonymity. Built in 1980, Timbercreek Townhomes and Villas features a gated swimming pool, gazebo and landscaped grounds.

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AcquisitionsAlabamaRestaurantRetailSoutheast

RealSource Facilitates $3M Sale of New Restaurant in Gadsden, Alabama Leased to Starbucks

by John Nelson

GADSDEN, ALA. — RealSource Group has facilitated the $3 million sale of a newly built restaurant located at 720 Gilbert Ferry Road SE in Gadsden, about 60 miles northeast of Birmingham. Starbucks Coffee occupies the 2,500-square-foot building, which features a drive-thru and outdoor patio seating, on a 10-year initial lease with 10 percent rent increases every five years. The restaurant was built last year on a 1.2-acre site near I-59 and I-759. Austin Blodgett and Jonathan Schiffer of RealSource, along with ParaSell Inc., represented both the Ohio-based private investor and the Tampa-based private developer in the transaction. Both parties requested anonymity.

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AcquisitionsRetailTexas

Partners Capital Buys 102,020 SF Kessler Park Shopping Center in Dallas

by Taylor Williams

DALLAS — Partners Capital, the investment arm of Partners Real Estate, has purchased Kessler Park Shopping Center, a 102,020-square-foot retail property located southwest of downtown Dallas. The property comprises two buildings on a 10-acre site that was roughly 98 percent leased at the time of sale to tenants such as Colaw Fitness and United Education Institute. William Harrison of Harrison Property Brokerage represented both Partners Capital and the undisclosed seller in the transaction. Veritex Bank financed the acquisition.

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AcquisitionsDevelopmentMultifamilyTexas

Transwestern Arranges Sale of Multifamily Development Site in South Houston

by Taylor Williams

HOUSTON — Transwestern has arranged the sale of a multifamily development site in South Houston. The site at 1500 Old Spanish Trail spans 2.1 acres within the 1500 OST master-planned development. The buyer, Houston-based developer Winther Investments, plans to develop a five-story, 280-unit building on the site. Jeff Peden and Scott Miller of Transwestern represented the seller, an entity doing business as 1500 OST LLC, in the transaction.

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AcquisitionsMultifamilyTexas

TMG Negotiates Sale of 100-Unit Vistas Apartments in Boerne, Texas

by Taylor Williams

BOERNE, TEXAS — The Multifamily Group (TMG), a Dallas-based brokerage firm, has negotiated the sale of The Vistas, a 100-unit apartment complex in Boerne, a northeastern suburb of San Antonio. Built in 2001, the pet-friendly property offers one-, two- and three-bedroom units, as well as a pool and onsite laundry facilities. The buyer and seller were not disclosed.

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AcquisitionsOfficeTexas

Colliers Brokers Sale of 15,446 SF Office Building in Sugar Land, Texas

by Taylor Williams

SUGAR LAND, TEXAS — Colliers has brokered the sale of a 15,446-square-foot office building in Sugar Land, a southwestern suburb of Houston. The Offices at Telfair was built on 1.5 acres in 2017 within the master-planned community of the same name and is home to engineering consulting firm Aguirre & Fields. Kolbe Curtice of Colliers represented the undisclosed seller in the transaction.

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