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Acquisitions

Washington-Square-Petaluma-CA
AcquisitionsCaliforniaRetailWestern

Brixton Capital Purchases 215,506 SF Washington Square Shopping Center in Petaluma, California

by Amy Works

PETALUMA, CALIF. — Brixton Capital has acquired Washington Square, a retail property in Petaluma, from El Segundo, Calif.-based Paragon Commercial Group for $67.5 million. Bryan Ley, Eric Kathrein and Warren McClean of JLL represented the seller, while Brixton was self-represented in the deal. Located at 301 S. McDowell Blvd., the eight-building property features 215,506 square feet that is more than 99 percent leased. Current tenants include Safeway, Staples, Harbor Freight Tools, Planet Fitness, Five Below and Marin Health. Originally built in 1971 and renovated in 1996, Brixton Capital plans to renovate the property with parking lot improvements, roof replacements, exterior painting, HVAC upgrades and façade enhancements. Additionally, the company plans to renovate the landscaping and update the signage to enhance curb appeal.

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3401-Del-Amo-Torrance-CA
AcquisitionsCaliforniaIndustrialWestern

Partnership Acquires 83,000 SF Flex R&D Building in Los Angeles’ South Bay

by Amy Works

TORRANCE, CALIF. — Alta West Partners, Glendon Capital Management and an affiliate of A2 Capital Management have purchased 3401 Del Amo, an 83,000-square-foot flex research and development asset on 4.5 acres in Torrance, for $21.4 million. Originally built for Kubota Tractor Corp., the property offers a clear height of 28 feet, five roll-up doors, a detached loading dock, full wraparound surface parking and 2,000 amps of power. Since its construction in the 1990s, the asset has never been publicly marketed for lease. Brett Racanelli, Nathan Piehl and Jeff Morgan of Cushman & Wakefield represented the buyer and undisclosed seller in the all-cash transaction. The new owner has retained Cushman & Wakefield to handle leasing efforts for the asset.

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AcquisitionsFloridaMultifamilySoutheast

Carter Multifamily Acquires Apartment Community in Melbourne, Florida for $37.7M

by John Nelson

MELBOURNE, FLA. — Carter Multifamily, a Carter Funds company, has acquired Mode at Melbourne, a 166-unit garden-style multifamily community on Florida’s Space Coast, for $37.7 million. The seller was not disclosed. Originally built in 2020, Mode at Melbourne spans approximately 218,592 rentable square feet and was 94 percent occupied at the time of sale. The complex features one-, two- and three-bedroom floorplans ranging in size from 1,219 square feet to 1,853 square feet. Amenities include a resort-style pool and sundeck, fitness center, resident clubroom, playground, electric vehicle charging stations, car care center, dog park and select units with water views. Carter Multifamily plans to renovate the property with interior and exterior upgrades, operational efficiency improvements and a revitalization of branding. Allegiant-Carter Management, the in-house property manager of Carter Funds, will oversee day-to-day operations at Mode at Melbourne.

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AcquisitionsMidwestMultifamilyNorth Dakota

Gindi Equities Acquires Amber Crossing Apartment Homes in Fargo, North Dakota

by Kristin Harlow

FARGO, N.D. — Gindi Equities has acquired Amber Crossing Apartment Homes in Fargo for an undisclosed price. The 117-unit multifamily community is situated at 5170 Amber Valley Parkway. Property Resources Group was the seller. The transaction marks Gindi’s third investment in the Fargo market. Gindi plans to make interior refurbishments, such as updating kitchen and bathroom features as well as revamping common spaces and outdoor amenities. Constructed in 2002, Amber Crossing features one- to three-bedroom units and is located just off I-29.

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AcquisitionsHospitalityMidwestOhio

Laurel Real Estate Arranges Sale of 152-Room Days Inn Hotel in Reynoldsburg, Ohio

by Kristin Harlow

REYNOLDSBURG, OHIO — Laurel Real Estate Co. has arranged the sale of the Days Inn Columbus East Airport hotel in Reynoldsburg for an undisclosed price. Lauren D’Souza-Faze of Laurel Real Estate represented the undisclosed seller. The buyer was a first-time hotelier based outside of the United States. Located at 2100 Brice Road, the property features 152 units as well as an outdoor pool, meeting space and full bar and restaurant. Scientific Capital arranged acquisition financing.

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AcquisitionsArkansasMultifamilySoutheast

Cushman & Wakefield Arranges $24.8M Sale of Benton Apartments in Pea Ridge, Arkansas

by John Nelson

PEA RIDGE, ARK. — Cushman & Wakefield has arranged the $24.8 million sale of The Benton, a 150-unit multifamily community in Pea Ridge, roughly 30 miles outside Fayetteville. Martin Bynum, Cole Herget and Craig Hey of Cushman & Wakefield represented the seller, an entity doing business as Aria Holdings LLC, in the transaction. The buyer was South Bend, Ind.-based HPP Equity. Built in 2024, The Benton features one- and two-bedroom floorplans ranging from 771 square feet to 1,020 square feet in size, according to Apartments.com. Amenities at the property include a 24/7 fitness center, lounge, clubhouse, grill, dog park and cabana.

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AcquisitionsSelf-StorageSoutheastTennessee

SmartStop Purchases 471-Unit Self-Storage Facility in Metro Nashville

by John Nelson

MURFREESBORO, TENN. — SmartStop Self Storage REIT Inc. has expanded its presence in the Tennessee market after acquiring a storage facility at 1323 N.W. Broad St. in Murfreesboro, roughly 35 miles southeast of downtown Nashville. The seller and sales price were not disclosed. The newly acquired facility spans 62,100 rentable square feet and features 471 storage units, including 384 drive-up units and six RV units distributed across 12 single-story buildings. California-based SmartStop has an owned or managed a portfolio of 217 operating properties in 23 states, Washington, D.C., and Canada, comprising approximately 155,700 units and 17.5 million rentable square feet.

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AcquisitionsIndustrialNew YorkNortheast

Lincoln Equities, PCCP Sell Light Industrial Portfolio in Valley Cottage, New York for $62.7M

by Taylor Williams

VALLEY COTTAGE, N.Y. — A partnership between Lincoln Equities Group and PCCP LLC has sold a portfolio of three light industrial properties totaling 261,950 square feet in Valley Cottage, about 30 miles north of New York City. The sales price was $62.7 million. The three properties range in size from 64,000 to 112,160 square feet, and the buildings within them range in size from 2,720 to 42,075 square feet and feature clear heights of 20 to 30 feet. The portfolio was 97 percent leased to 17 tenants at the time of sale. JLL represented the partnership in the transaction. The buyer was Invesco Real Estate.

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AcquisitionsHospitalityNew YorkNortheast

Marcus & Millichap Brokers $10.6M Sale of Wyndham-Branded Hotel Near Albany

by Taylor Williams

CLIFTON PARK, N.Y. — Marcus & Millichap has brokered the $10.6 million sale of a 104-room La Quinta Inn & Suites, which is part of the Wyndham Hotels & Resorts family of brands, in Clifton Park, located just north of Albany. The four-story hotel was built on a 3.1-acre site in 2017 and offers amenities such as an indoor pool and fitness center. Kevin Laureno and Alexandre Duong of Marcus & Millichap represented the undisclosed seller in the transaction. The buyer was also not disclosed.

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AcquisitionsMassachusettsNortheastRetail

Atlantic Capital Partners Negotiates Sale of 124,405 SF Shopping Center in Stow, Massachusetts

by Taylor Williams

STOW, MASS. — Regional brokerage firm Atlantic Capital Partners has negotiated the sale of Stow Shopping Center, a 124,405-square-foot retail property in Central Massachusetts. Grocer Shaw’s anchors the center, which was 90 percent leased at the time of sale via the recent new leases with a dentistry practice and spa operator. Justin Smith, Chris Peterson, Sam Koonce, Danielle Donovan and Matt Austin of Atlantic Capital Partners represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

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