Acquisitions

Watermark-Almaden-San-Jose-CA

ROSEVILLE AND SAN JOSE, CALIF. — A joint venture between Affinius Capital and Alliance Residential has sold a two-property seniors housing portfolio totaling 545 units in Northern California. The portfolio includes Sonrisa Senior Living in Roseville and The Watermark at Almaden in San Jose. Sonrisa Senior Living comprises 201 independent living units, 120 assisted living units and 24 memory care units across two buildings that were constructed in 2021 and 2023. The Watermark at Almaden, which features 200 independent living, assisted living and memory care units, opened in 2021. Amenities at the communities include outdoor pools, fitness centers, salons and spas, theaters and bocce ball and pickleball courts.  Aaron Rosenzweig, Dan Baker and Sandis Seale of JLL Capital Markets arranged the transaction on behalf of the seller. A publicly traded REIT acquired the properties for an undisclosed price. According to a statement released by JLL, the transaction represents one of the largest seniors housing portfolio sales in Northern California in recent years.

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Cadillac-Court-Portfolio-Milpitas-CA

MILPITAS, CALIF. — Newmark has arranged the sale of The Cadillac Court Industrial Portfolio, an industrial campus in Milpitas. An undisclosed seller sold the four-building property to Galvanize Real Estate, the sustainable real estate strategy of Galvanize, for an undisclosed price. Steve Golubchik, Edmund Najera, Darren Hollak and Brendan Raney of Newmark represented the seller in the deal. Approximately 95 percent leased, the 302,447-square-foot campus is adjacent to Interstate 880 and offers immediate access to State Route 237. Built between 1991 and 1994, the property features 61 dock-high doors, 16 grade-level doors and approximately 8,000 amps of power. The campus serves a diverse tenant roster spanning millworker and fabrication, corporate services, technology and distribution uses.

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The-Marc-1600-Modesto-CA

MODESTO, CALIF. — San Francisco-based Tesseract Capital Group has completed the sale of The Marc at 1600 in Modesto to an undisclosed family office for $26.6 million. Located at 1600 Standiford Ave., The Marc at 1600 features 100 one- and two-bedroom apartments with an average size of 798 square feet. Otto Ozen, Brian Nakamura and Nazli Santana of The Mogharebi Group represented the seller in the deal.

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COPPELL, TEXAS — New York City-based Link Logistics has acquired a 291,285-square-foot industrial property in Coppell, located in the northern-central part of the metroplex. Link Logistics acquired the fully leased building at 450 Airline Drive as part of a two-property portfolio deal that also included a 61,111-square-foot building in Austin. Stream Realty Partners brokered the deal. The seller and sales price were not disclosed.

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TEMPLE, TEXAS — Marcus & Millichap has brokered the sale of a 71-room hotel in the Central Texas city of Temple. The Holiday Inn Express & Suites in Temple offers a mix of rooms and suites in addition to a pool and a fitness center. Skyler Cooper, Chris Gomes and Allan Miller of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

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214-Senate-Ave.-Camp-Hill-Pennsylvania

CAMP HILL, PA. — CBRE has arranged the sale of West Shore Office Center, a 91,306-square-foot office building in Camp Hill, a southern suburb of Harrisburg. The seven-story building at 214 Senate Ave. was fully leased at the time of sale to tenants such as Morgan Stanley, Merrill Lynch, JEM Group, Hersha Hospitality and the U.S. Army Corp. of Engineers. Steve Marzullo, Adam Silverman, Jeremy Shyk and David Sickler of CBRE represented the undisclosed seller in the transaction and procured the buyer, locally based investment firm Linlo Properties.

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MEDFORD, MASS. — Locally based brokerage firm ABG Commercial Realty has negotiated the $8 million sale of a 28,600-square-foot industrial building in Medford, a northern suburb of Boston. The building at 118 Mystic Ave. was fully leased to Verizon at the time of sale. Bernard Gibbons of ABG Commercial represented the buyer, Empire Management, in the transaction. The seller was local development and investment firm Marcus Partners.

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BLAINE, MINN. AND LIBERTY, MO. — First Washington Realty (FWR) has acquired two grocery-anchored shopping centers in Minnesota and Missouri for a combined value in excess of $65 million. The acquisitions expand FWR’s portfolio to 21.9 million square feet across 21 states. The Village of Blaine is a 220,685-square-foot center in Blaine, Minn., and Liberty Corners is a 124,808-square-foot property anchored by a 56,000-square-foot Cosentino’s Price Chopper store in Liberty, Mo. Additional tenants include Chipotle and The Big Biscuit.

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SOUTH SIOUX CITY, NEB. — Greysteel has brokered the $15.3 million sale of Dakota Pointe, a 143-unit multifamily property in South Sioux City. Built in 1994, the property was fully leased at the time of sale. Units come in one-, two- and three-bedroom floor plans. Greysteel represented the seller. Both the buyer and seller were private investors based in South Dakota.

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SAN ANTONIO — Marcus & Millichap has brokered the sale of a 645-unit self-storage facility in San Antonio. CubeSmart previously operated the facility, which was built on a 10.6-acre site on the city’s southwest side in 2023 and spans 115,240 net rentable square feet. Jon Danklefs of Marcus & Millichap represented the seller, a New Jersey-based limited liability company, in the transaction and procured the buyer, Public Storage, which has rebranded the property. The facility was 89 percent occupied at the time of sale.

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