Acquisitions

IPA Brokers $26.9M Sale of Grocery-Anchored Shopping Center in Latham, New York

by Taylor Williams March 5, 2025

LATHAM, N.Y. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of $26.9 million sale of a 120,049-square-foot, grocery-anchored shopping center in Latham, located north of Albany. The center was built in 2010 and is home to tenants such as Petco and Crumbl Cookies in addition to grocery anchor The Fresh Market. Jim Koury of IPA represented the seller, Shaker Loudon Associates, which is an affiliate of Benderson Development, in the transaction. Koury also procured the buyer, an entity doing business as PCP Binghamton Associates LLC.

March 5, 2025

Acquisitions Massachusetts Northeast Retail

Atlantic Capital Partners Arranges Sale of 59,687 SF Shopping Center in Yarmouth, Massachusetts

by Taylor Williams March 5, 2025

YARMOUTH, MASS. — Regional brokerage firm Atlantic Capital Partners has negotiated the sale of Yarmouth Shopping Center, a 59,687-square-foot retail property located near the base of Cape Cod. Grocer Stop & Shop anchors the center. Justin Smith, Chris Peterson, Sam Koonce, Danielle Donovan and Matt Austin of Atlantic Capital Partners represented the seller and procured the buyer, both of which requested anonymity, in the transaction. The property traded in conjunction with a 124,405-square-foot center in Stow, Mass., for a combined price of $26 million.

March 5, 2025

Acquisitions Office Utah Western

Fort Street Partners, Cumming Capital Purchase Lehi Spectrum Office Buildings in Utah

by Amy Works March 5, 2025

LEHI, UTAH — Fort Street Partners has partnered with Cumming Capital Management to acquire Lehi Spectrum I and II, two Class A tech office properties in Lehi’s Silicon Slopes district. Terms of the transaction were not released. Built in 2018 and 2020, the buildings offer approximately 265,000 square feet of combined space. Onsite amenities at Lehi Spectrum include pickleball courts, a daycare, gym, locker rooms with showers, an open space auditorium and food services. Bryce Blanchard of Newmark, along with Woodley Real Estate, represented the undisclosed seller in the deal.

March 5, 2025

Acquisitions California Restaurant Retail Western

Levin Johnston Brokers $12.7M Sale of Restaurant Property in Berkeley, California

by Amy Works March 5, 2025

BERKELEY, CALIF. — Levin Johnston, part of Marcus & Millichap, has arranged the $12.7 million sale of a retail building at 2310 Telegraph Ave. in Berkeley. Raising Cane’s will occupy the 12,419-square-foot property, which is currently anchored by Walgreens, as a new flagship restaurant. Additional details of the transaction were not released.

March 5, 2025

Acquisitions Colorado Retail Western

Ziff Real Estate Acquires 40,211 SF Village Square Shopping Center in Louisville, Colorado

by Amy Works March 5, 2025

LOUISVILLE, COLO. — Ziff Real Estate Partners (ZRP) has purchased Village Square Shopping Center, a necessity-based retail center in Louisville, for $9.2 million. ZRP plans to improve the 40,211-square-foot asset by enhancing the center’s tenant mix and physical property. Located at 535-655 E. South Boulder Road, Village Square is shadow-anchored by Centre Court Apartments and Shamrock Foods.

March 5, 2025

Acquisitions Midwest Minnesota

Transwestern Arranges Sale of Bethany Global University Campus in Bloomington, Minnesota

by Kristin Harlow March 5, 2025

BLOOMINGTON, MINN. — Transwestern Real Estate Services has arranged the sale of the Bethany Global University campus in the Minneapolis suburb of Bloomington. Substance Church purchased the 32.7-acre campus, which features 341,036 square feet across 16 buildings, for an undisclosed price. Owner-user Substance Church is a mission-driven organization that intends to use the property for purposes similar to Bethany Global University. The land is zoned for institutional and religious purposes, and Substance Church plans to repurpose many of the existing apartment, dormitory, educational and support services buildings. The property, which had been under Bethany’s ownership since the 1940s, was made available for sale as part of a strategic restructuring initiative. The university recently shifted from an in-person learning environment to an online platform. Mike Salmen and Erik Coglianese of Transwestern represented Bethany Fellowship.

March 5, 2025

Acquisitions Midwest Missouri Retail

Hanley Investment Group Brokers Sales of Two Adjacent Retail Buildings in Metro Kansas City

by Kristin Harlow March 5, 2025

BLUE SPRINGS, MO. — Hanley Investment Group Real Estate Advisors has brokered the sales of two adjacent retail buildings in the Kansas City suburb of Blue Springs. The sales price was undisclosed, but the combined transaction size exceeded $5 million with a blended cap rate in the low 6 percent range. The single-tenant, net-leased properties are occupied by Heartland Dental (4,200 square feet) and Starbucks (2,312 square feet). Both were constructed in 2024. Jeff Lefko and Bill Asher of Hanley, in association with Jay Ferguson of Ferguson Properties Inc., represented the seller and developer of both buildings, Ferguson Properties and Foresight Real Estate. Peter Winterling of Kidder Mathews represented the buyer of the Heartland Dental-occupied property, a private 1031 exchange investor from California’s Central Valley. John Martin of Lee & Associates represented the buyer of the Starbucks-occupied asset, a private 1031 exchange investor from Southern California.

March 5, 2025

Acquisitions Multifamily Texas

AvalonBay Agrees to Acquire Dallas-Fort Worth Multifamily Portfolio for $431.5M

by Taylor Williams March 4, 2025

DALLAS — Virginia-based multifamily REIT AvalonBay Communities (NYSE: AVB) has agreed to acquire a portfolio of six multifamily properties totaling 1,844 units in the Dallas-Fort Worth (DFW) metroplex for $431.5 million. The seller is BSR REIT, and the deal is expected to close in the second quarter. The properties — Auberry at Twin Creeks, Satori Frisco, Vale Frisco, Aura Benbrook, Lakeway Castle Hills and Wimberly — were all built between 1995 and 2021 and range in size from 216 to 349 units. AvalonBay acquired the portfolio in conjunction with two Austin-area communities that sold for $187 million.

March 4, 2025

Acquisitions Industrial Office Texas

BH Properties Buys 374,085 SF Legacy R&D Business Park in Plano, Plans Industrial Conversion

by Taylor Williams March 4, 2025

PLANO, TEXAS — California-based investment firm BH Properties, which also has two offices in Texas, has purchased Legacy R&D, a 374,085-square-foot business park in Plano that the company plans to convert to industrial use. The 40-acre property consists of seven buildings that were 58 percent leased at the time of sale. Elizabeth Malone and K.C. Scheipe of Eastdil Secured represented the undisclosed seller in the transaction. The new ownership has tapped Stream Realty Partners to lease the park, including to prospective life sciences users.

March 4, 2025

Acquisitions North Carolina Office Southeast

Highwoods Agrees to Purchase 20-Story Advance Auto Parts Tower in Raleigh

by John Nelson March 4, 2025

RALEIGH, N.C. — Highwoods Properties Inc. has agreed to purchase Advance Auto Parts Tower, a 20-story office building located in Raleigh’s North Hills district. The seller and sales price were not disclosed, but Triangle Business Journal reported that the 346,000-square-foot property was sold by Lionstone Investments, which delivered the tower in 2020 along with current property manager Kane Realty Corp. The deal is expected to close in the next 30 days, and Highwoods has contributed $20 million in earnest money deposits in advance of the closing. Advance Auto Parts Tower was fully leased as of year-end 2024, with retailer Advance Auto Parts anchoring the office building. The office tower is situated adjacent to Highwoods’ 16-story CAPTRUST Tower.

March 4, 2025

Newer Posts

Older Posts