HOUSTON — Philadelphia-based investment firm Alterra IOS has acquired an industrial outdoor storage facility in northeast Houston. The 2.9-acre facility at 7470 Miller Road 2 features 20,980 square feet of warehouse space and was originally built in 2002, according to LoopNet Inc. Jack Zalta of KSR NY brokered the deal. The seller and sales price were not disclosed.
CONCORD AND HAYWARD, CALIF. — BKM Capital Partners and Kayne Anderson Real Estate, the real estate investment arm of Kayne Anderson, have acquired a three-property industrial portfolio in the San Francisco Bay Area. Details of the transaction were not released. CBRE National Partners handled the transaction. Totaling approximately 505,000 square feet across 16 buildings and 94 units, the portfolio consists of institutional quality, light industrial space situated on 34 acres of infill land with access to regional transportation. At the time of sale, the portfolio was 89 percent leased to more than 70 tenants, with unit sizes averaging just over 5,300 square feet. The portfolio includes the 10-building, 245,930-square-foot Concord Industrial Park in Concord as well as the three-building, 176,056-square-foot Huntwood Business Center and the three-building, 82,562-square-foot Hesperian Business Park in Hayward. The Concord asset will be renamed Mount Diablo Industrial Park as part of BKM’s broader repositioning plan.
AVENEL, N.J. — Chicago-based investment firm CenterPoint Properties has acquired two industrial buildings totaling 387,526 square feet in the Northern New Jersey community of Avenel. The building at 191 Blair Road is a 198,854-square-foot, cross-dock facility with a clear height of 36 feet. The building at 215 Blair Road is a 188,672-square-foot, single-load warehouse with clear heights of 22 to 30 feet and several acres of overflow parking space. Gary Gabriel, Kyle Schmidt and Ryan Larkin of Cushman & Wakefield brokered the sales of the buildings, both of which were fully leased at closing.
MILWAUKIE, ORE. — CBRE has arranged the sale of Axletree Apartments, a multifamily complex located at 11125 SE 21st Ave. in Milwaukie. A private seller sold the asset to an undisclosed buyer for $28 million. Built in 2019, Axletree Apartments features 110 studio, one- and two-bedroom units with in-unit washers/dryers and stainless steel appliances. Josh McDonald and Joe Nydahl of CBRE represented the seller in the deal.
TACOMA, WASH. — Dermody has purchased 40.8 acres of land at 17027-17028 Canyon Parkway East In Tacoma for an undisclosed price. The fully entitled site will become LogistiCenter at Frederickson, a two-building industrial park. Slated for delivery in second-quarter 2026, Building A will offer 443,420 square feet and Building B will feature 91,728 square feet. Additionally, the property will feature a trailer lot. Andrew Hitchcock, Andrew Stark and Zac Snedeker of CBRE are handling leasing for the project. Brett Hartzell of CBRE’s National Partners assisted with the acquisition.
NAPA, CALIF. — Matthews Real Estate Investment Services has brokered the sale of Southgate Mini Storage, a self-storage property located at 1025 Golden Gate Drive in Napa. Terms of the transaction were not disclosed. Shane Avera of Matthews handled the transaction. The seller has owned the 67,980-square-foot property for more than 50 years.
ATLANTA — Peachtree Group has originated a $42 million loan for the acquisition and repositioning of Atlanta Financial Center, a 914,774-square-foot office campus in Atlanta’s Buckhead district. The borrower, Miami-based Banyan Street Capital, recently acquired the office campus, which comprises three interconnected towers situated on 13.1 acres atop Ga. Highway 400 with immediate access to a MARTA station. The floating-rate loan carries a 36-month initial term with a 12-month extension option. The loan is backed by completion, interest and carry guarantees from Banyan Street Capital. After being acquired in 2016 by a Sumitomo Corp. affiliate for $222.5 million, Atlanta Financial Center faced tenant departures, softening fundamentals and shifting capital priorities. Banyan Street Capital plans to reposition the campus, starting with the lease-up of the North Tower, which is being supported by capital expenditure reserves and funds for tenant improvements and leasing. The sponsor will also explore larger tenant opportunities and future redevelopment options.
SUMTER, S.C. — Matthews has arranged the sale of Gateway Plaza, a 106,062-square-foot shopping center located at 1342 Broad St. in Sumter, about 44 miles west of Columbia, S.C. Kyle Stonis, Pierce Mayson and Boris Shilkrot of Matthews brokered the transaction between the buyer, an entity doing business as Core Peckville LLC, and the seller, an entity doing business as WEG Sumter LLC. The sales price was not released. Renovated in 2020, Gateway Plaza was nearly 90 percent leased at the time of sale to tenants including T.J. Maxx, Ross Dress for Less, Ulta Beauty and Five Below.
GULF SHORES, ALA. — Locally based Merrill P. Thomas Co. (MPT) has brokered the $5.7 million sale of Paradise Isle Shopping Center, a 47,520-square-foot shopping center located in Gulf Shores. Publix anchors the property, which is situated on 4.6 acres near the Florida border. Other tenants include AutoZone, Resale Heaven, Nail Boutique & Spa and the Gulf Shores Methodist Church. Pratt Thomas of MPT represented the seller, Gulf Shore Methodist Church, in the transaction. Nathan Handmacher of Zarzour Cos. LLC represented the buyer on an internal basis.
COLUMBUS, OHIO — The Cooper Commercial Investment Group has brokered the $3.2 million sale of a single-tenant restaurant property occupied by Buffalo Wild Wings within the Easton retail corridor in Columbus. Dan Cooper of Cooper Group represented the seller, a private investment group out of West Virginia. The buyer purchased the asset at a cap rate of 5.85 percent, 98 percent of the list price and $413 per square foot. The all-cash transaction closed in approximately 40 days. Buffalo Wild Wings has 10 years remaining on its lease with a rental increase in 2030. The property was renovated in 2020.