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Acquisitions

The-Mark-at-Midlothian
AcquisitionsMultifamilyTexas

IPA Brokers Sale of 236-Unit Apartment Complex in Midlothian, Texas

by Taylor Williams

MIDLOTHIAN, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of a 236-unit apartment complex in the southern Dallas suburb of Midlothian. Built in 2020, The Mark at Midlothian offers one- and two-bedroom units with an average size of 881 square feet and amenities such as a pool, fitness center, business center and a dog park. Michael Ware, Joey Tumminello, Drew Kile, Taylor Hill and Jack Windham of IPA represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

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AcquisitionsMultifamilyNorth CarolinaSoutheast

Tishman Speyer Acquires Berkshire Dilworth Apartments in Charlotte for $76.3M

by John Nelson

CHARLOTTE, N.C. — New York-based Tishman Speyer has purchased Berkshire Dilworth, a 296-unit apartment community located at 1351 E. Morehead St. in Charlotte. Berkshire Residential sold the property to Tishman Speyer’s TS Plus fund for $76.3 million, according to the Charlotte Business Journal. The community is Tishman Speyer’s first acquisition in the Charlotte area and its second in North Carolina this year following the company’s purchase of The Maggie in Raleigh in January. Built in 2016, Berkshire Dilworth features studio, one- and two-bedroom apartments, as well as ground-level retail space, a fitness center, outdoor pool, rooftop lounge, yoga room and private pet spa. The property was 97 percent occupied at the time of sale.

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AcquisitionsRestaurantRetailSoutheastTennessee

Marcus & Millichap Brokers Sale of New Restaurant in Hixson, Tennessee Leased to Chick-fil-A

by John Nelson

HIXSON, TENN. — Marcus & Millichap’s Taylor McMinn Retail Group has brokered the sale of a newly built restaurant in Hixson, a northeast suburb of Chattanooga. Chick-fil-A occupies the property on a 15-year ground lease that features 10 percent rent increases in the initial term as well as extension options. Don McMinn and Andrew Koriwchak of Taylor McMinn represented the seller, a preferred developer for Chick-fil-A, in the transaction. RealSource Group and ParaSell Inc. represented the buyer, a high-net-worth individual based in Florida who is purchasing the restaurant all-cash in a 1031 exchange. The property sold for approximately $2.8 million. “This transaction achieved Tennessee’s lowest cap rate ever for a single-tenant Chick-fil-A, driven by its prime location, strong credit and low price point,” says McMinn.

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AcquisitionsIllinoisIndustrialMidwest

MAG Capital Partners Acquires 240,000 SF Manufacturing Facility in Metro Chicago

by Kristin Harlow

CHICAGO HEIGHTS, ILL. — MAG Capital Partners has acquired a 240,000-square-foot property that serves as the primary headquarters and manufacturing facility for Applied Acoustics International (AAI), a VisTech Manufacturing Solutions business and portfolio company of Angeles Equity Partners. AAI is a Tier 1 supplier of noise, vibration and harshness solutions to the North American automotive industry, producing damper and barrier products for new automobiles since 1986. Situated on 15.8 acres with onsite rail access, the property is located at 1001 State St. in Chicago Heights. Vishal Vinjani and Ben Markiles of Resolute Structured Capital arranged financing on behalf of MAG Capital Partners. Surmount’s Mark Masino represented the seller, a local family office.

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AcquisitionsIowaMidwestOffice

NAI Ruhl Brokers Sale of Former Quad-City Times Headquarters in Davenport, Iowa

by Kristin Harlow

DAVENPORT, IOWA — NAI Ruhl Commercial Co. has brokered the sale of the former Quad-City Times headquarters facility at 500 E. Third St. in Davenport. Rick Schaefer and Charlie Armstrong of NAI Ruhl brokered the sale. The Geifman Group, a longtime Quad Cities real estate owner and developer, purchased the property with plans to remodel it into a multi-tenant building. Constructed in 1989, the facility totals 122,800 square feet on 6.2 acres overlooking the Mississippi River. The building includes 41,850 square feet of two-story office space and 80,950 square feet of high-bay production and warehouse space. For more than three decades, the property served as the regional headquarters of the Quad-City Times and was home to the newspaper’s editorial, administrative and printing operations.

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AcquisitionsIndustrialLoansMidwestMinnesota

MMCC Secures $4.8M Acquisition Loan for Minnesota Industrial Property

by Kristin Harlow

ALBERT LEA, MINN. — Marcus & Millichap Capital Corp. (MMCC) has secured a $4.8 million loan for the acquisition of a 127,869-square-foot industrial property located at 1851 Margaretha Ave. in southern Minnesota’s Albert Lea. Michael Hughes of MMCC arranged the five-year loan with a national bank on behalf of the buyer. The nonrecourse loan features a 5.3 percent interest rate and 25-year amortization period. The property is currently leased to Green Bay Packaging, a sustainable packaging manufacturer with over 40 locations throughout the United States.

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SoCam-290-New-Brunswick
AcquisitionsMultifamilyNew JerseyNortheastStudent Housing

TSB Realty Arranges Sale of 627-Bed Student Housing Community Near Rutgers University

by Taylor Williams

NEW BRUNSWICK, N.J. — TSB Realty has arranged the sale of SoCam 290, a 627-bed student housing community located near the Rutgers University campus in New Brunswick. Delivered in 2005, the community offers 233 units in studio through three-bedroom configurations. Shared amenities include a clubroom, 24-hour fitness center, business center, coffee bar and gaming and media lounges. Alden Street Capital purchased the property from an undisclosed seller. TSB Capital Advisors also arranged acquisition financing for the deal. The property was fully leased at the time of sale.

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5514-152nd-St-E-Puyallup-WA
AcquisitionsIndustrialSelf-StorageWashingtonWestern

Colliers Negotiates $18.4M Sale of Sunset Self Storage Facility in Puyallup, Washington

by Amy Works

PUYALLUP, WASH. — Colliers has negotiated the $18.4 million sale of Sunset Self Storage, a newly constructed facility located at 5514 152nd St. E in Puyallup, a suburb of Tacoma. An entity doing business as BVDSS Puyallup Owner LLC sold the asset to Mitchell RE Holdings LLC. Completed in 2025, Sunset Self Storage features climate-controlled units, multistory elevator access, modern security systems and a variety of storage options. The asset offers direct access to state routes 512 and 167 and I-5. Jacob Becher and Nate Fliflet of Colliers represented the buyer and seller in the transaction.

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Riverwoods-Business-Park-Provo-UT.jpg
AcquisitionsOfficeUtahWestern

Six Ridge Partners Divests of Three-Building Riverwoods Business Park in Provo, Utah

by Amy Works

PROVO, UTAH — Six Ridge Partners, formerly Dakota Pacific, has divested of Riverwoods Business Park in Provo. Terms of the transaction were not released. Brandon Fugal, John Monson and Grant Lammerson of Colliers represented Six Ridge Partners in the transaction, while Summit Commercial Advisors represented the undisclosed buyer, which purchased the property on behalf of an investor group affiliated with Flagship Cos. Developed in the mid-1990s, the three-building campus offers 185,000 square feet of research, innovation and office space. Current tenants include Qualtrics, Vivint and UCCU.

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AcquisitionsCaliforniaRetailWestern

Faris Lee Investments Negotiates $5.3M Sale of Retail Strip Center in Fontana, California

by Amy Works

FONTANA, CALIF. — Faris Lee Investments has negotiated the $5.3 million sale of a retail strip center in Fontana, located in Southern California’s San Bernardino County. Jeff Conover, Scott DeYoung and Greg Lukosky of Faris Lee Investments handled the transaction. The names of the buyer and seller were not released. Chipotle, Jersey Mike’s, Dragon Grill, KWIK Charge EV Charging Stations and Phantom Fireworks are tenants at the 4,872-square-foot property, which is positioned as a pad building in front of a WinCo Foods.

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