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Acquisitions

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AcquisitionsCaliforniaRetailWestern

Hanley Investment Group Negotiates Sale of 110,485 SF Shopping Center in Corona, California

by Amy Works

CORONA, CALIF. — Hanley Investment Group Real Estate Advisors has negotiated the sale of Sierra del Oro Towne Centre, a 110,485-square-foot shopping center located in Corona. Ralphs and Dollar Tree anchor the property, which was fully leased at the time of sale. Additional tenants include Anytime Fitness, Chase Bank, Jack in the Box, Domino’s Pizza, Green River Montessori School, Wingstop, Kumon Math and Reading Center, Fantastic Sams Cut & Color and PostalAnnex. Sierra del Oro Towne Centre marks Hanley’s sixth grocery-anchored shopping center sale over the previous 12 months. Kevin Fryman and Ed Hanley represented the seller, Phillips Edison & Co., in the transaction. Jesse Millman of Newmark represented the buyer, a private 1031 exchange investor based in Northern California.

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AcquisitionsOfficeTexas

United Way of Greater Houston Acquires 51,900 SF Office Building in Conroe, Texas

by Taylor Williams

CONROE, TEXAS — The United Way of Greater Houston has acquired a 51,900-square-foot office building in Conroe, about 40 miles north of Houston. The nonprofit organization is relocating and more than doubling its footprint from its existing facility in the nearby community of The Woodlands. United Way plans to take occupancy of the Conroe building in early 2026, and The Woodlands building is currently on the market. The seller and sales price were not disclosed.

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AcquisitionsCaliforniaMultifamilyWestern

Advanced Real Estate Buys 104-Unit Newhope Village Apartment Property in Irvine

by Amy Works

IRVINE, CALIF. — Advanced Real Estate has acquired Newhope Village, a multifamily property located in Irvine. Terms of the transaction were not disclosed. The gated, podium-style property features 104 apartments, a pool, fitness center and tot lot. Advanced Real Estate plans to renovate and upgrade the asset including the addition of in-unit washers and dryers, new cabinetry, flooring, fixtures, appliances, windows and a modern paint scheme. Upgrades will be completed by Advanced’s in-house construction company, R3 Construction, and in-house property management company, Advanced Management Co.

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AcquisitionsLoansMichiganMidwestMultifamily

Marcus & Millichap Secures $38M Acquisition Loan for Detroit Multifamily Property

by Kristin Harlow

DETROIT — Marcus & Millichap Capital Corp. (MMCC) has arranged a $38 million acquisition loan for Infinity Park, a 484-unit multifamily property located at 14075 Riverview St. in Detroit. Kevin Elliott of MMCC arranged the financing with a national bank on behalf of the private borrower. The nonrecourse loan features a five-year term, 70 percent loan-to-value ratio, 5.9 percent interest rate and 30-year amortization period. The gated property features a mix of one- and two-bedroom units.

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AcquisitionsMidwestOfficeOhio

CBRE Negotiates Sale of 182,700 SF Office Building in Downtown Cincinnati

by Kristin Harlow

CINCINNATI — CBRE has negotiated the sale of the Sawyer Point Building, a 182,700-square-foot office building in Cincinnati’s central business district. Matrix Holdings LLC purchased the property from Colonial Life & Accident Insurance Co. CBRE’s Steve Timmel, Will Roberts, John Eckert and Travis Likes represented the seller. Building amenities include a rooftop deck, two-story atrium, fitness center, conference center, electric vehicle charging stations, a self-service Company Kitchen market and a 100-stall, underground parking garage. Originally built in 1916, the four-story property was converted into office use in 2001 and underwent renovations from 2020 to 2024.

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AcquisitionsIowaMidwestMultifamily

Greysteel Arranges Sale of 146-Unit Apartment Community in West Des Moines

by Kristin Harlow

WEST DES MOINES, IOWA — Greysteel has arranged the sale of Fountain Terrace, a newly constructed apartment community with 146 units in West Des Moines. Completed in 2024, the property was 94 percent occupied at the time of sale. Amenities include a pool, fitness center, detached garages and pet-friendly facilities. According to Greysteel, the asset received more than a dozen offers from out-of-state buyers, many of whom did not own in the Des Moines market. BJ Connolly and Zach Schneider of Greysteel brokered the transaction. Buyer and seller information was not released.

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AcquisitionsIllinoisMidwestRetail

Greenstone Partners Brokers $5.2M Sale of Elmwood Commons Retail Center in Metro Chicago

by Kristin Harlow

ELMWOOD PARK, ILL. — Greenstone Partners has brokered the $5.2 million sale of Elmwood Commons, a 16,840-square-foot retail center in the Chicago suburb of Elmwood Park. The property sold to an institutional investor for the full list price. Developed in 1991, the multi-tenant center has maintained near full occupancy since its construction and features a weighted average lease tenure of 15.6 years. Longstanding tenants include FedEx Office, which has occupied its space for 34 years, Wingstop (24 years), Jimmy John’s (19 years), Betty’s (12 years) and Happy Wok (11 years). Brewster Hague of Greenstone represented the seller and procured the buyer.

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AcquisitionsFloridaRetailSoutheast

SRS Negotiates $10.5M Sale of Retail Center in Temple Terrace, Florida

by John Nelson

TEMPLE TERRACE, FLA. — SRS Real Estate Partners has negotiated the $10.5 million sale of Fountain Shoppes, a retail center in Temple Terrace totaling 18,110 square feet. Built in 2022, the four-building property is located on a 2.6-acre site at 8942 Bertha Palmer Blvd. Fountain Shoppes was fully leased at the time of sale to seven tenants, including Starbucks Coffee, Jersey Mike’s, Rocking Crab, The Joint Chiropractic, Hand & Stone, AT&T and Chase Bank. Patrick Nutt and William Wamble of SRS represented the seller, a Florida-based investor and developer, in the transaction. The buyer was a Florida-based private investor. Both parties requested anonymity.

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AcquisitionsLoansMarylandRetailSoutheast

MMCC Arranges $3.9M Acquisition Loan for Metro Baltimore Retail Strip Center

by John Nelson

BEL AIR, MD. — Marcus & Millichap Capital Corp. (MMCC) has arranged $3.9 million in acquisition financing for The Shoppes at James Run, a 13,189-square-foot retail property located in Bel Air, approximately 25 miles northeast of Baltimore. Jared Cassidy of MMCC secured the 7-year loan on behalf of a private client. The loan features a 5.64 percent interest rate and a 25-year amortization schedule. The Shoppes at James Run features a mix of tenants including Starbucks Coffee, Chipotle Mexican Grill, Olive Garden, LongHorn Steakhouse, a café and an urgent care office.

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AcquisitionsIndustrialNew YorkNortheastSelf-Storage

Storage Ventures Acquires 2,100-Unit Self-Storage Portfolio in Upstate New York

by Taylor Williams

WATERTOWN AND EVANS MILL, N.Y. — Connecticut-based investment firm Storage Ventures has acquired a portfolio of five self-storage facilities totaling more than 2,100 units in upstate New York. The portfolio spans approximately 273,000 net rentable square feet, and the sale also included a 12,000-square-foot retail center. All properties are located within the communities of Watertown and Evans Mill. Storage Ventures acquired the portfolio in partnership with SmartStop Self Storage REIT. The seller and sales price were not disclosed.

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