Wednesday, July 23, 2025
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Acquisitions

AcquisitionsMidwestMinnesotaMultifamily

Marcus & Millichap Brokers $12M Sale of Multifamily Property in Suburban Minneapolis

by Kristin Harlow

BROOKLYN PARK, MINN. — Marcus & Millichap has brokered the $12 million sale of The Groves Apartments, a 120-unit multifamily property in the Minneapolis suburb of Brooklyn Park. Built in 1967, the asset features 60 one-bedroom units and 60 two-bedroom units. Amenities include a fitness center, community room, playground and garage units. Zach Olson, Chris Collins, Evan Miller, Eric Wagner and Matt Shide of Marcus & Millichap represented the seller, The Groves Apartments LLC, and procured the buyer, an out-of-state investment group. Jon Ruzicka, broker of record in Minnesota, assisted in closing the transaction.

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AcquisitionsIndustrialNew JerseyNortheast

Cushman & Wakefield Brokers $2.5M Sale of Industrial Flex Building in Denville, New Jersey

by Taylor Williams

DENVILLE, N.J. — Cushman & Wakefield has brokered the $2.5 million sale of 1 Stewart Court, a 14,100-square-foot industrial flex building in Denville, about 40 miles west of New York City. The building is located on a 2.2-acre site within Bridge View Business Park and features a clear height of 16 feet and two loading docks. Andy Schwartz, Jordan Sobel, Andre Balthazard and Dan Bottiglieri of Cushman & Wakefield represented the seller, an entity doing business as One Stewart Court LLC, in the transaction. The team also procured the undisclosed buyer.

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Uptown-Square-San-Marcos
AcquisitionsMultifamilyStudent HousingTexas

Inland Private Capital Sells 512-Bed Student Housing Property in San Marcos, Texas

by Taylor Williams

SAN MARCOS, TEXAS — Illinois-based Inland Private Capital Corp. (IPC) has sold Uptown Square, a 512-bed student housing property located in the Central Texas city of San Marcos. Built in 2015, the 316-unit property serves students at Texas State University and features studio, one- and two-bedroom floor plans. Amenities include a pool, fitness center, business center, outdoor grilling and dining stations and a dog park. Uptown Square is 91 percent preleased in advance of the 2024-2025 academic year. Peter Katz of Institutional Property Advisors, a division of Marcus & Millichap, represented Inland in the transaction. Greystar purchased the property for an undisclosed price.

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AcquisitionsRetailTexas

AW Outlet Buys 23,879 SF Retail Building in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Discount retailer AW Outlet has purchased a 23,879-square-foot building located at 6680 W. Freeway in Fort Worth for its newest store. The building sits on a 1.7-acre parcel within a larger shopping center that is anchored by grocer Albertsons. Michelle Caplan and Matthew Rosenfeld of Weitzman represented the undisclosed seller in the transaction. Sarah Lamb of DB2RE represented AW Outlet.

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AcquisitionsCompany NewsGeorgiaLoansSoutheast

Trimont Agrees to Acquire Wells Fargo’s Commercial Mortgage Servicing Business

by John Nelson

ATLANTA AND SAN FRANCISCO — Atlanta-based Trimont has signed a definitive agreement to acquire Wells Fargo’s non-agency third-party commercial mortgage servicing business. The acquisition does not include the San Francisco-based company’s Fannie Mae or Freddie Mac business lines, which Wells Fargo will continue to service, along with the loans remaining on its balance sheet. Värde Partners, a global alternative investment firm, acquired and has owned Trimont through certain funds since 2015. Värde will provide funding for the acquisition, which will enable Trimont to offer servicing across all non-bank commercial real estate lending structures. Following the close of the acquisition, which is expected to occur in early 2025, Trimont will manage more than $715 billion in U.S. and international commercial real estate loans, making the firm the largest commercial real estate loan servicer in the United States. Trimont’s consultants in the transaction include J.P. Morgan Securities LLC (financial advisor), Goldman Sachs & Co. LLC (general advisory services) and Kirkland & Ellis LLP, Cadwalader, Wickersham & Taft LLP, and Trilegal (legal). Wells Fargo Securities LLC served as exclusive financial advisor to Wells Fargo, and Wachtell, Lipton, Rosen and Katz served as the company’s legal advisor.

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AcquisitionsFloridaNorth CarolinaRetailSoutheast

CTO Realty Growth Purchases Shopping Center Portfolio in Florida, North Carolina for $137.5M

by John Nelson

WINTER PARK, FLA. — CTO Realty Growth Inc. has purchased a portfolio of three Southeast shopping centers: Carolina Pavilion in Charlotte, Millenia Crossing in Orlando and Lake Brandon Village in Brandon, Fla. The undisclosed seller(s) sold the portfolio, which totals approximately 893,000 square feet, to CTO for $137.5 million. Carolina Pavilion is an approximately 691,000-square-foot regional retail center located on 72 acres in Southern Charlotte on South Boulevard. The center was 93 percent leased at the time of sale to tenants including AMC Theatres, Floor & Décor, Nordstrom Rack, Ross Dress for Less and Burlington. Millenia Crossing is a 100,385-square-foot shopping center located adjacent to the Mall at Millenia in Orlando. The center was 96 percent leased at the time of sale to tenants including Nordstrom Rack, Party City, Modani Furniture, Milan Laser Hair Removal, Destination XL, The Vitamin Shoppe and Relax the Back. Jim Michalak and Jeff Berkezchuk of Plaza Advisors represented the undisclosed seller in the Millennia Crossing transaction. Situated east of I-75 near Tampa, Lake Brandon Village spans approximately 102,000 square feet and was fully leased at the time of sale to tenants including Sprouts Farmers Market, PetSmart, DSW and Scandinavian Design Furniture. Additionally, CTO announced the …

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AcquisitionsMultifamilyNortheastNorthmarqPennsylvania

Northmarq Brokers Sale of Two Lehigh Valley Manufactured Housing Properties Totaling 163 Sites

by Taylor Williams

HAZLETON AND CENTER VALLEY, PA. — Northmarq has brokered the sale of two manufactured housing properties totaling 163 sites in the Lehigh Valley region. Birch Knoll is a 92-site property in Hazleton that was built in 1989. Saucon Valley Crossing in Center Valley totals 71 lots in both single and double formats and was originally constructed in 1947. Anthony Pino and Ari Azarbarzin of Northmarq represented the seller, Pennsylvania-based ME Management, in the transaction. The buyer(s) and sales price(s) were not disclosed.

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Marys-Vineyard-Visalia-CA
AcquisitionsCaliforniaRetailWestern

Matthews Real Estate Brokers $17.7M Sale of Mary’s Vineyard Shopping Center in Visalia, California

by Amy Works

VISALIA, CALIF. — Matthews Real Estate Investment Services has arranged the sale of Mary’s Vineyard, a retail center located at 1305-1699 E. Noble Ave. in Visalia, a city in the San Joaquin Valley between Los Angeles and the Bay Area. Argonaut Investments, a privately held investment firm, acquired the asset from an undisclosed seller for $17.7 million. Situated on 16.5 acres, Mary’s Vineyard features 151,615 square feet and 28 tenants, including restaurants, grocery stores and drug stores. The retail center was developed in 1989. Carter Hamilton and Matt LoPiccolo of Matthews Real Estate Investments represented the seller and buyer in the deal.

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7300-E-Hampton-Ave-Mesa-AZ
AcquisitionsArizonaIndustrialWestern

KoMiCo Acquires 125,000 SF Manufacturing Facility in Mesa, Arizona

by Amy Works

MESA, ARIZ. — Austin, Texas-based KoMiCo Phoenix LLC, a company that offers semiconductor cleaning and coating services, has purchased a manufacturing facility at 7300 E. Hampton Ave. in Mesa. Tempe-based 7300 East Hampton LLC sold the property for $17.5 million. KoMiCo will redevelop the 125,000-square-foot facility into an advanced semiconductor equipment parts cleaning, coating and repair facility in the Superstition Springs area of the Southeast Valley. The facility, which is situated on 12.5 acres, is slated to be operational by 2026. Representing a more than $50 million in capital investments, the building will be KoMiCo’s third location in the United States and eighth globally. Rick Foss, Isy Sonabend and Drew Eisen of NAI Horizon represented the buyer, while Lee & Associates represented the seller in the transaction.

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AcquisitionsNew JerseyNortheastRetail

Graystone Capital Advisors Arranges Sale of 34,177 SF Shopping Center in Rockaway, New Jersey

by Taylor Williams

ROCKAWAY, N.J. — California-based brokerage firm Graystone Capital Advisors has arranged the sale of a 34,177-square-foot shopping center in the Northern New Jersey community of Rockaway. Tractor Supply Co. anchors the center, which according to LoopNet Inc. was originally built in 1980. A developer based in the Southeast sold the property to a local institutional investor for $7.2 million, with both parties requesting anonymity. Julius Swolsky and Shannon Bona of Graystone brokered the deal.

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