Acquisitions

Kingsbarn Acquires Eight-Story Office Property Along Hollywood’s Walk of Fame

by Amy Works April 3, 2025

LOS ANGELES — Kingsbarn Realty Capital has purchased 1601 Vine Street, an office building in Los Angeles’ Hollywood submarket, for an undisclosed price. Developed by J.H. Synder Co. and designed by Ware Malcomb, the eight-story building offers 115,000 square feet of office space and five levels of underground parking. Skims Body Inc., an American shapewear and clothing brand, has occupied the building as its corporate headquarters since mid-2023, with leasing through mid-2028. The transaction team included Los Angeles-based Hankey Capital, IBI Volcano Investments and Newmark.

April 3, 2025

Acquisitions Loans Retail Washington Western

Gantry Secures $21.4M Acquisition Loan for Retail Center in Tacoma, Washington

by Amy Works April 3, 2025

TACOMA, WASH. — Gantry has arranged a $21.4 million mortgage for the sale of James Center, a 140,240-square-foot retail center located in Tacoma. The loan, which carries a fixed rate, 10-year term and 30-year amortization schedule, was funded by a life insurance company. Gantry will service the loan. A partnership affiliate of Bellevue, Wash.-based Rosen Harbottle Commercial Real Estate purchased the property, which is situated on roughly 16 acres and anchored by Fred Meyer. Additional tenants at the center include Rite Aid, U.S. Bank, IHOP, Taco Bell, MultiCare Health System and FedEx. Alan Hergert and Tim Brown of Gantry’s Seattle office represented the borrower.

April 3, 2025

Acquisitions Indiana Midwest Multifamily

PRP Acquires 218-Unit Cosmopolitan on the Canal Apartment Complex in Indianapolis

by Kristin Harlow April 3, 2025

INDIANAPOLIS — PRP has acquired Cosmopolitan on the Canal, a 218-unit Class A apartment complex located along the Central Canal in downtown Indianapolis. The purchase price was undisclosed. Constructed in 2010, the community’s interiors remain in their original condition and will undergo a comprehensive renovation. The property is situated in the Canal Walk District and features a waterfront setting.

April 3, 2025

Acquisitions Midwest Missouri Retail

Marcus & Millichap Arranges $22.1M Sale of Retail Power Center in Suburban St. Louis

by Kristin Harlow April 3, 2025

ST. PETERS, MO. — Marcus & Millichap has arranged the sale of Cave Springs Shopping Center in the St. Louis suburb of St. Peters for $22.1 million. The retail power center totals 176,804 square feet. Anchor tenant Hobby Lobby has operated at the property since 2003. The Edge Fitness Club serves as a co-anchor at the property, which was fully leased at the time of sale. Additional tenants include Office Depot, Cycle Gear and LongHorn Steakhouse. Craig Fuller, Erin Patton and Scott Wiles of Marcus & Millichap’s Institutional Properties Advisors division procured a local buyer completing a 1031 exchange. The sale included four outparcel buildings that the buyer can spin off during the hold period if desired, according to Wiles.

April 3, 2025

Acquisitions Hospitality Midwest Ohio

Laurel Real Estate Negotiates Sale of 82-Room Fairfield Inn & Suites Hotel Near Cleveland

by Kristin Harlow April 3, 2025

AVON, OHIO — Laurel Real Estate Co. has negotiated the sale of the Fairfield Inn & Suites hotel in Avon near Cleveland for an undisclosed price. The 82-room property is located at 39050 Colorado Ave. Amenities include an indoor pool, fitness center and meeting space. Laurel represented the undisclosed seller and was the sole brokerage involved in the transaction, which was considered an off-market deal.

April 3, 2025

Acquisitions Illinois Midwest Retail

Network Commercial Real Estate Brokers $4.4M Sale of Retail Development Site in Justice, Illinois

by Kristin Harlow April 3, 2025

JUSTICE, ILL. — Network Commercial Real Estate has brokered the $4.4 million sale of a 5-acre retail development site located at 8650 W. 79th St. in Justice, a southwest suburb of Chicago. Neil Haleem of Network represented the seller, Emaar Enterprise LLC. Jeremy Forman of Shai Town Realty Group represented the buyer, Quick Trip Corp. The site will be developed into a QT gas station and convenience store.

April 3, 2025

Acquisitions Northeast Pennsylvania Retail

Joint Venture Acquires Two Metro Philadelphia Shopping Centers Totaling 122,365 SF

by Taylor Williams April 3, 2025

NEWTOWN AND BENSALEM, PA. — A joint venture between ShopOne Centers REIT, Pantheon and an undisclosed institutional investment firm has acquired two open-air shopping centers totaling 122,365 square feet that are located on the northeastern outskirts of Philadelphia. Goodnoe’s Corner is a 34,660-square-foot shopping center in Newtown that was built in 2008 and fully leased at the time of sale. Village Center is an 87,705-square-foot retail center in nearby Bensalem that was built in 1976 (renovated in 1999) anchored by grocer ACME. Scott Woodard and Derrick Dougherty of Marcus & Millichap represented the undisclosed seller and procured the buyer in the transaction.

April 3, 2025

Acquisitions Healthcare North Carolina Southeast Top Stories

Duke Health Acquires Lake Norman Regional Medical Center in Metro Charlotte for $284M

by John Nelson April 3, 2025

MOORESVILLE, N.C. — Duke University Health System (Duke Health), a Durham, N.C.-based healthcare affiliate of Duke University, has acquired Lake Norman Regional Medical Center, an acute-care hospital in the Charlotte suburb of Mooresville, for $284 million. Formerly owned by subsidiaries of Tennessee-based Community Health Systems Inc., the 123-bed facility will now operate as Duke Health Lake Norman Hospital. “We have a bright future ahead and look forward to bringing the excellence and innovation of Duke Health to enhance the care offered at Duke Health Lake Norman Hospital and clinics,” says Craig Albanese, CEO of Duke Health. Duke Health Lake Norman Hospital offers 24-hour emergency care, labor and delivery services, cardiology, surgical and orthopedic care and an outpatient imaging center. The hospital has been operating since 1926 when it opened as Lowrance Hospital. The property comprises a main 171,000-square-foot hospital building and a separate 6,200-square-foot outpatient facility. Over the next several months, the hospital’s electronic medical records will be integrated into Duke Health’s system for patients to receive full access to the provider’s specialty care. Employees and providers at the hospital were also offered jobs with Duke Health to “enable a seamless transition for patients to have continued access to the providers, …

April 3, 2025

Acquisitions Industrial Texas

Oxford Partners Arranges Sale of 12,813 SF Industrial Building in North Houston

by Taylor Williams April 2, 2025

HOUSTON — Locally based brokerage firm Oxford Partners has arranged the sale of a 12,813-square-foot industrial building in North Houston. According to LoopNet Inc., the building at 15458 W. Hardy Road was constructed in 1981 and features three drive-in bays and 16-foot clear heights. Perry Mazzone and Matt Rogers of Oxford Partners represented the buyer in the transaction. Wyatt Huff of Partners Real Estate represented the seller. Both parties requested anonymity.

April 2, 2025

Acquisitions Georgia Office Southeast

Atlanta Braves Holdings Acquires 763,465 SF Pennant Park Office Complex Adjacent to Truist Park

by John Nelson April 2, 2025

ATLANTA — Atlanta Braves Holdings Inc., owner and operator of the Atlanta Braves MLB team, The Battery Atlanta mixed-use development and Truist Park in Cobb County, has purchased an adjacent 763,465-square-foot office complex. The property, called Pennant Park, is situated on approximately 34 acres and comprises six office buildings and more than 2,700 parking spaces. The seller, Rubenstein Partners, has owned Pennant Park since 2017, the year that the Braves began playing at nearby Truist Park (formerly SunTrust Park). The sales price was not disclosed. The campus was more than 80 percent leased at the time of sale to 24 tenants, including The Home Depot, Juneau Construction Co. and TK Elevator. The acquisition expands the Atlanta Braves Holdings’ real estate portfolio by 30 percent. Pennant Park comprises two components: Pennant Commons (four buildings and a communal plaza known as The Quad) and Pennant View (two buildings). Amenities at the office park include 24-hour security, onsite engineering, a 48-person conference center, two fitness centers, onsite car detailing services, two cafés, Social Kitchen tenant lounge and cafe, a bocce ball court, putting green, multi-sport game court, helipad, lake with jogging trail and a Cobb Community Transit System bus stop.

April 2, 2025

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