Tuesday, December 16, 2025
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Acquisitions

4268-N-Varsity-Ave-San-Bernardino-CA
AcquisitionsCaliforniaRestaurantRetailWestern

SRS Real Estate Brokers $6.8M Sale of Panera Bread-Occupied Retail Property in San Bernardino

by Amy Works

SAN BERNARDINO, CALIF. — SRS Real Estate Partners has arranged the sale of a single-tenant restaurant property located at 4268 N. Varsity Ave. in San Bernardino. A California-based investor acquired the property from Paragon Commercial Group for $6.8 million, or $1,404 per square foot. Panera Bread occupies the 3,986-square-foot property, which was built in 2024, on a 15-year absolute triple-net lease basis. Patrick Luther and Matthew Mousavi of SRS Capital Markets represented the seller in the deal. SRS’ Nick Wirick is handling leasing for the property. This is the second parcel of a break-up strategy SRS has executed on behalf of Paragon Commercial Group — the first being the sale of a Dutch Bros Coffee property that was sold in July 2025 for $2.8 million. In total, the value of the sold assets is $9.6 million.

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AcquisitionsIndustrialMidwestOhio

W. P. Carey Completes Sale-Leaseback of 66,000 SF Food Processing Facility in Ohio

by Kristin Harlow

OHIO — W. P. Carey has completed a sale-leaseback of a 66,000-square-foot food processing facility in Ohio. The transaction also included a commitment to fund an expansion to the existing facility and a build-to-suit commitment for a new Class A distribution facility on the same campus. Completion is slated for November 2026. The property is triple-net leased to Novus Foods, which is backed by private equity firm CapVest. The tenant has invested heavily in the property and is making additional investments to upgrade equipment. The new facility will serve as the company’s main cross-dock distribution location. The assets will be subject to a long-term, triple-net master lease with fixed annual rent increases.

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AcquisitionsIllinoisIndustrialMidwestMissouriSelf-Storage

EquiCap Commercial Negotiates Sales of Two Self-Storage Facilities in Suburban St. Louis

by Kristin Harlow

EAST ALTON, ILL. AND FORISTELL, MO. — EquiCap Commercial has negotiated the sales of two self-storage facilities in metro St. Louis. All Inn Storage, located at 978 E. Airline Drive in East Alton, features 9,600 net rentable square feet with 87 units on 9.1 acres. Alex Erbs of EquiCap represented the seller and procured the buyer, an out-of-state private equity firm. Foristell Storage, located at 19100 Veterans Memorial Parkway in Foristell, consists of 21,173 net rentable square feet with 260 units on 7.3 acres. Marla Čolić of EquiCap procured the buyer, a local storage owner-operator completing a 1031 exchange.

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AcquisitionsIllinoisMidwestRetail

Greenstone Partners Brokers $2.8M Sale of Retail Redevelopment Site in Chicago

by Kristin Harlow

CHICAGO — Greenstone Partners has brokered the sale of a retail redevelopment site located at 1419 W. Diversey Parkway in Chicago’s Lincoln Park neighborhood. The existing two-story building totals 11,300 square feet across a 10,700-square-foot land site. Rosebud Restaurants’ headquarters office and commissary kitchen formerly occupied the property. Brewster Hague and Tom Galvin of Greenstone represented the buyer, a Michigan-based real estate development firm.

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AcquisitionsIndustrialSelf-StorageTexas

Marcus & Millichap Negotiates Sale of 396-Unit Storage Facility in Amarillo

by Taylor Williams

AMARILLO, TEXAS — Marcus & Millichap has negotiated the sale of I-40 Storage, a 396-unit storage facility in Amarillo. Built in 2003 on 11.5 acres, roughly 1.9 of which are undeveloped, the facility spans 199,905 net rentable square feet across 353 covered parking spaces, eight enclosed spaces, 10 open parking spaces and 25 self-storage units. Mixson Staffel, Dave Knobler and Charles LeClaire of Marcus & Millichap represented the undisclosed seller in the transaction. The Michigan-based buyer also requested anonymity.

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1-N-Dale-Mabry-Tampa
AcquisitionsFloridaOfficeSoutheast

Joint Venture Purchases 13-Story Office Tower in Tampa’s Westshore Neighborhood

by Abby Cox

TAMPA, FLA. — A joint venture between Enverra Real Estate Partners and a New York City-based family office has acquired 1 North Dale Mabry, a 13-story, 260,000-square-foot office tower in the Westshore submarket of Tampa. The seller and sales price were not disclosed, but Business Observer Florida reports that Bridge Investment sold the property in a short-sale for $40 million, roughly five years after acquiring the property for $56.5 million. The office property offers floor-to-ceiling windows, a fitness center, conference facility and a renovated lobby. Additionally, 1 North Dale Mabry is home to various tenants such as Travelers Insurance, Marsh & McLennan Agency, Rissman Law Firm, Ideal Image and PCL Construction. Atlanta-based Enverra plans to invest $4 million to elevate the property with a coffee bar, landscaped outdoor terrace and upgrades to the current fitness center, conference facilities and other common areas.

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Wildcreek-Apartments-Austin
AcquisitionsMultifamilyTexas

Continental Realty Group Acquires 232-Unit Apartment Complex in Southeast Austin

by Taylor Williams

AUSTIN, TEXAS — Continental Realty Group, a Denver-based multifamily owner-operator, has acquired Wildcreek Apartments, a 232-unit multifamily complex in southeast Austin. Built in 1984, Wildcreek features one- and two-bedroom units and amenities such as a clubhouse and leasing center, two pools, a dog park and a basketball court. The new ownership plans to upgrade unit interiors, building exteriors and common areas. Ryan McBride, Robert Wooten and Robert Arzola of  JLL represented the seller in the transaction.

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29-North
AcquisitionsMultifamilyNorth CarolinaSoutheast

LaRock Capital Partners Buys 101-Unit Apartment Community in Hickory, North Carolina

by Abby Cox

HICKORY, N.C. — Ashburn, Va.-based LaRock Capital Partners has acquired 29 North Apartments, a 101-unit community located in Hickory, about 58 miles north of Charlotte. Delivered in 2013, the complex offers one-, two- and three-bedroom floorplans, ranging in size from 715 to 1,308 square feet, according to Apartments.com. Amenities include a resort-style swimming pool, fitness center, clubhouse with coworking spaces and a pet park. LaRock Capital has selected Greensboro, N.C.-based Burkely Communities to serve as the new property manager at 29 North. William Lawson of BWE originated acquisition financing on behalf of LaRock Capital. The seller and sales price were not disclosed.

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AcquisitionsHospitalitySoutheastTennessee

Bradford Allen Acquires 193-Room TownePlace Suites Hotel in Nashville

by Abby Cox

NASHVILLE, TENN. — Bradford Allen has acquired TownePlace Suites Nashville Midtown, a 193-room hotel located near Vanderbilt University in Nashville’s Midtown neighborhood. Opened in 2021, the 10-story hotel features a fitness center, onsite parking, meeting space and a rooftop lounge with grilling stations. The hotel’s studio guest suites also offer full kitchens and oversized living, work and sleep areas. Additionally, a convenience store and the hotel’s 60-seat restaurant and bar are located adjacent to the fifth-floor sky lobby. The first floor also includes two retail spaces, which are leased to Subway and Takumi, a Japanese restaurant scheduled to open in first-quarter 2026. Ron Danko and James Maher of CBRE represented the seller, 3H Group, in the transaction. The sales price was not disclosed.

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Arbys-Rep-Photo
AcquisitionsGeorgiaRetailSouth CarolinaSoutheast

SRS Real Estate Negotiates Sales of Two Retail Properties in Georgia, South Carolina Totaling $7.6M

by Abby Cox

CARROLLTON, GA. AND UNION, S.C. — SRS Real Estate Partners has negotiated the sales of two single-tenant retail properties in Georgia and South Carolina totaling $7.6 million. The properties include a property in Carrollton leased to Parachute Plasma and a drive-thru restaurant in Union occupied by Arby’s. Britt Raymond and Kyle Fant of SRS represented the 1031 exchange buyer, a New York City-based private investor, in the transaction. The seller was not disclosed. The first property, Parachute Plasma, sold for $5.5 million and totals 7,613 square feet of retail and medical office space. Built in 2024, Parachute Plasma operates on a new 20-year triple-net lease. The second property, a 2,364-square-foot Arby’s restaurant, was built in 2021 and was sold for roughly $2.1 million. Arby’s has approximately 16 years remaining on its absolute triple-net lease.

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