NEW YORK CITY — A partnership between two local firms, owner-operator Slate Property Group and investment firm Avenue Realty Capital, has purchased a 16-unit apartment building in Manhattan’s Tribeca neighborhood for $32 million. The seven-story building at 45 White St. was originally constructed in 1868 as a commercial office and converted to residential use in 2009. Units come in studio, one-, two- and three-bedroom floor plans. Amenities include a fitness center and a children’s playroom. Guthrie Garvin of JLL represented the undisclosed seller in the transaction. The partnership was self-represented. White Oak Real Estate Capital financed the acquisition.
KEMAH, TEXAS — California-based brokerage firm RealSource Group has arranged the $5.4 million sale of a single-tenant retail building in Kemah, located southeast of Houston, that is net leased to Mister Car Wash (NASDAQ: MCW). The 5,462-square-foot building was constructed in 2021 and is backed by a fully guaranteed corporate lease. Austin Blodgett and Jonathan Schiffer of RealSource Group, in association with ParaSell, Inc., represented the seller, a local private investor, in the transaction. Chase Cameron of Matthews represented the buyer. Both parties requested anonymity.
DALLAS — Local investment firm CanTex Capital has acquired four industrial outdoor storage (IOS) facilities totaling 47,465 square feet in the Brookhollow neighborhood of Dallas. Three of the four sites will immediately undergo capital improvements, with CanTex planning to renovate office and warehouse spaces and make functional yard improvements. Chase Miller of NAI Robert Lynn represented CanTex in the transaction. The seller and sales price were not disclosed.
WILMINGTON, DEL. — CBRE has negotiated the $6.9 million sale of a 100,000-square-foot industrial building in Wilmington. The facility was built on a 5.9-acre site at 701 Garasches Lane between 1994 and 2002. Dan Reeder, Dan Rattay and Colby Reeder of CBRE represented the seller, Fibre Processing Corp., in the transaction. The buyer, Shaw Real Estate, plans to implement capital improvements such as new interior and exterior paint, new LED lighting throughout the building and site repaving.
WARRINGTON, PA. — CenterSquare Investment Management has purchased a 32,242-square-foot, unanchored shopping center in Warrington, located north of Philadelphia. Built in 2015, Valley Gate Shopping Center is home to tenants such as Sport Clips, T‑Mobile, Visionworks, Crumbl Cookies and Buffalo Wild Wings. Chris Munley, Colin Behr, Ryan Sciullo, Casey Benson Smith and R.J. Mirabile of CBRE represented CenterSquare in the deal. Gregory Bianchi of US Realty Associates represented the seller, Metro Development Co.
BELLEVUE, WASH. — Commune Capital has completed the disposition of a self-storage property located at 12399 Northup Way in Bellevue. Premier Storage Investors acquired the asset for $50.7 million. Mike Mele, Luke Elliott, Jim Lewis and Steffan Brown of Cushman & Wakefield represented the seller in the transaction. Built in 2016 on 1.2 acres, the Class A 103,397-square-foot self-storage facility features 988 climate-controlled and drive-up units. At the time of sale, the property was 93 percent occupied.
SACRAMENTO, CALIF. — CBRE has negotiated the sale and acquisition financing of 16 Powerhouse, an apartment community in Sacramento. Oakmont Properties acquired the asset from Demmon Partners for $34.5 million. Marc Ross, Joe McNamara and Claire Holt of CBRE represented the seller in the deal. Andrew Behrens and Jesse Weber of CBRE secured acquisition financing for the buyer. Located at 1606 P St., the six-story 16 Powerhouse features 73 one- and two-bedroom floor plans and ground-floor retail space, currently occupied by Orchid Thai, Magpie and Temple Coffee. Built in 2015 and renovated with an addition in 2024, the community features a clubhouse and lounge, spa deck, an outdoor lounge, a rooftop deck and an outdoor kitchen.
SAN FRANCISCO — Bridgeton has completed the sale of Museum Parc, a mixed-use property in San Francisco’s SoMa neighborhood, to DPI Retail for $19.2 million. Eric Kathrein, Andrew Spangenberg and Allie Repaskey of JLL Capital Markets represented the seller in the transaction. Located at 300 3rd St., Museum Parc features 36,000 square feet of fully leased street-level retail space situated below 234 condominium units. Current commercial tenants include Crunch Fitness, El Dorado Latin Fusion, Aquabyte and TowerWAV.
PHOENIX — Marcus & Millichap has brokered the $2.8 million sale of an industrial warehouse property near Phoenix Sky Harbor International Airport. Jonathan Schulman, Tivon Moffitt and Peter Bauman of Marcus & Millichap represented the seller, a California-based private investor, and procured the buyer, a Phoenix-based private investor, in the transaction. Located at 3711 E. Atlanta Ave. in Phoenix, the property features 13,400 square feet of industrial manufacturing space. Located at 3711 E. Atlanta Ave., the 13,400-square-foot building is utilized as a lens manufacturing site for the existing tenant that negotiated a new 10-year lease extension. The new owner plans to complete targeted capital improvements at the asset, which was built in 1994, to support the tenant’s long-term operations.
INDIANAPOLIS — Keystone Group has purchased the 378-room Sheraton Indianapolis City Centre Hotel located at 31 W. Ohio St. in the heart of downtown Indianapolis. The company plans to transform the property into a Renaissance hotel, Keystone’s first hotel under Marriott International’s Renaissance Hotel’s lifestyle brand. Keystone plans to introduce a multi-phase series of enhancements to the property, including reimagining the rooftop bar and pool concept, major improvements to the 537-space public parking garage, luxury upgrades throughout all interior and exterior spaces, a signature ground-floor restaurant and new lobby coffee shop, a pedestrian skywalk connection with 120 Monument Circle, a comprehensive façade restoration, upgraded ballroom and event spaces and a reinvented arrival and lobby space. Construction is anticipated to span approximately two years. The hotel will remain fully operational throughout the transformation.