ATASCOCITA, TEXAS — SRS Real Estate Partners has brokered the $12.5 million sale of a 42,000-square-foot retail building in Atascocita, located northeast of Houston. EōS Fitness occupies the building, which was constructed on a 4.6-acre site in 2024, on a 15-year, corporate-guaranteed lease. Patrick Luther and Matthew Mousavi of SRS represented the seller, an East Coast-based developer, in the transaction. The duo also procured the buyer, a Midwest-based private investor. Both parties requested anonymity.
SHEPHERDSVILLE, KY. — JLL Capital Markets has arranged the $50 million sale of Bullitt II Logistics Center, a 437,000-square-foot industrial warehouse and distribution facility located at 251 Buffalo Run Road in Shepherdsville, a southern suburb of Louisville in Bullitt County. Ross Bratcher, Sean Devaney, Dennis Mitchell, Kurt Sarbaugh, Powell Spears and Matt Hartlage of JLL represented the seller, Atlanta-based Core5 Industrial Partners, in the transaction. Chicago-based LaSalle Investment Management was the buyer. Situated roughly 12 miles from the UPS Worldport, Bullitt II Logistics Center is fully leased to a subsidiary of Dorman Products, an American supplier and manufacturer of aftermarket automotive replacement parts. The cross-dock facility was delivered in 2022 and features 36-foot clear heights, fully circulating truck courts with up to 185-foot depths, 50 dock doors, 63 designated trailer parking spaces and more than 14,000 square feet of office space.
WESTLAKE, FLA. — Minto Communities USA has sold a 10.6-acre development site located in the master-planned community of Westlake in South Florida’s Palm Beach County. The buyer, Lowe’s Home Centers LLC, plans to build a 134,148-square-foot Lowe’s Home Improvement store that includes a 26,601-square-foot outdoor garden center. In addition to serving customers, the new location will serve as a regional headquarters for the North Carolina-based retailer. While further details of the sale were not disclosed, site plans have been approved by the City of Westlake. According to public records, Walmart has also submitted a site plan for a future location adjacent to the future Lowe’s. Minto Communities has sold approximately half of the 2.2 million square feet approved for commercial development in Westlake, including 20 acres traded to Publix Super Markets Inc. in 2021 for a 140,000-square-foot, two-phase retail development that is now nearly fully leased.
SPARKS, NEV. — An affiliate of Equus Capital Partners has purchased Greg Center, a four-building industrial portfolio in Sparks, approximately four miles east of downtown Reno. The portfolio was acquired on behalf of a value-add fund sponsored by Equus. Terms of the transaction were not disclosed. Built between 1995 and 2000, the 514,900-square-foot portfolio includes two mid-bay buildings and two shallow-bay buildings with frontage on McCarren Boulevard and Greg Street. The buildings feature clear heights ranging from 20 to 28 feet and a mix of rear- and front-loading configurations. Suite sizes range from approximately 5,000 square feet to 73,000 square feet. Greg Center has averaged 95 percent occupancy over the past five years.
MISSION VIEJO, CALIF. — DJM Capital has completed the sale of Gateway Center, a retail property located in Mission Viejo’s master-planned community, to Asana Partners for $51 million. Located at 23972-24042 Alicia Parkway, Gateway Center features 79,108 square feet of retail space that is 97 percent occupied. Current tenants include Chase Bank, Starbucks Coffee, San Diego County Credit Union and Pacific Dental Services. Gleb Lvovich, Geoff Tranchina and Daniel Tyner of JLL Capital Markets represented the seller in the deal.
FREMONT, CALIF. — Berkadia has secured a joint venture equity partner on behalf of an institutional client for the development of Aurum, the final phase of a 966-unit multifamily project adjacent to the Warm Springs BART Station in Fremont. Brett Betzler and Kaohu Berg-Hee of Berkadia brokered the deal. Located at 3300 Innovation Way, Aurum will consist of a five-story, elevator-served building with 336 apartments and more than 600 structured garage parking spaces. Community amenities will include a fitness center, resort-style pool and approximately 4,900 square feet of ground-floor retail space. Completion is slated for 2027.
NEW YORK CITY — StorageMart has acquired a portfolio of 15 self-storage facilities totaling 25,498 units in New York City, where the Missouri-based owner-operator does business under the Manhattan Mini Storage brand. The portfolio, which also offers 121 parking spaces for vehicular storage, spans approximately 1.3 million net rentable square feet and includes facilities in Manhattan, Staten Island, Brooklyn and Queens. Eastdil Secured represented the undisclosed seller in the transaction and advised StorageMart in securing acquisition financing for the deal.
MISSION HILLS, CALF. — San Diego-based Location Matters has negotiated the $3.2 million sale of a single-tenant restaurant property located in the San Diego neighborhood of Mission Hills. Situated at 902 W. Washington St., the 2,505-square-foot building is occupied by contemporary American restaurant Harley Gray Kitchen & Bar, which has operated at the site for 12 years. Mike Spilky of Location Matters represented both the seller and the buyer in the transaction. The buyer plans to reposition the space with a new restaurant concept.
IOWA, MINNESOTA AND NEBRASKA — Marcus & Millichap has brokered the $41.6 million sale of the Yellow Brick Road Portfolio, a collection of 18 triple-net-leased early childhood development centers in Iowa, Minnesota and Nebraska. Spencer Berkley, Mark Ruble, Chris Lind, Zack House, Jon Ruzicka and Adam Lewis of Marcus & Millichap represented the sellers, Ben Ditzer and Bob Carlson of Triple Net Capital, and procured the buyer, a Florida-based real estate investment trust. The portfolio included a range of lease structures and ownership entities. Two additional assets were sold separately to private buyers prior to the sale of the remaining 18 properties.
LA PORTE, TEXAS — JLL has negotiated the sale of a 511-unit self-storage facility located in the southeastern Houston suburb of La Porte. Spencer Mini Storage comprises 11 single-story buildings that were built in the late 1990s. About 190 (37 percent) of the units are climate-controlled, and the property also offers 79 boat or RV surface parking spaces. Adam Roossien, Matthew Wheeler, Steve Mellon and Brian Somoza of JLL represented the seller, ExchangeRight, in the transaction. The buyer was a partnership between MyPlace Self-Storage and Nuveen Real Estate.