HOUSTON — JLL has negotiated the sale of Park 845 Crossing, a 757,325-square-foot industrial park in North Houston. Built in phases between 2008 and 2014, Park 845 Crossing comprises five buildings on a 38.9-acre site at the interchange of I-45 and Beltway 8. Buildings offer a mix of rear-load and cross-dock configurations, range in size from approximately 54,000 to 245,000 square feet and feature 18- to 30-foot clear heights. Trent Agnew, Charlie Strauss, Lance Young, Brooke Petzold and Max Myers of JLL represented the seller, an affiliate of Equus Capital Partners, in the transaction. The buyer was New York City-based REIT INDUS Realty Trust.
Acquisitions
AUSTIN, TEXAS — Newmark has brokered the sale of Oak Hill Plaza, a 115,512-square-foot shopping center in West Austin. The center sits on an 11.3-acre site at 7101 State Highway 71 and was 92.5 percent leased at the time of sale. Tenants include The Picklr, Dollar Tree, AutoZone, Jim’s Restaurant, Wells Fargo, Pluckers Wing Bar and Golden Chick. Conor Lalor, Kyle Minter, James Sharpe V and Cole Frantz of Newmark represented the seller, Partners Real Estate, which acquired the property in 2021, in the transaction. Fort Worth-based owner-operator Trademark Property Co. acquired Oak Hill Plaza in a joint venture with global investment firm Cohen & Steers.
FORT LEE, N.J. — JLL has negotiated the sale of Ridge Pointe, a 132-unit apartment building in the Northern New Jersey community of Fort Lee. Built as an office building in 1985 and converted to residential use in 2014, Ridge Pointe offers studio, one-, two- and three-bedroom units with an average size of 1,296 square feet. Amenities include a rooftop lounge, screening room, fitness center, billiards room and a children’s playroom. Mike Oliver, Steve Simonelli, Jose Cruz, Elizabeth DeVesty, Austin Pierce and C.J. Anania of JLL represented the undisclosed seller in the transaction. Thomas Didio Jr., Gerard Quinn, Michael Mataras and Tyler Caricato, also with JLL, arranged acquisition financing for the deal through Balbec Capital on behalf of the buyer, SELA Realty Investments.
MANCHESTER, N.H. — Marcus & Millichap has brokered the $3.9 million sale of a 56,000-square-foot civic building in Manchester. The building at 470 Pine St. was originally constructed in 1924 as a mill and is now home to three educational institutions. Luigi Lessa and Mattias Edenkrans of Marcus & Millichap represented the seller, an entity doing business as TAD LLC, in the transaction and procured the buyer, private investor Mike Mita. Thomas Shihadeh of Marcus & Millichap helped close the deal as the broker of record.
CBRE Arranges $83M Acquisition Loan for Luxury Multifamily Community in Atlanta’s Buckhead District
by Abby Cox
ATLANTA — CBRE has arranged $83 million in acquisition financing for AMLI Lenox, a 391-unit luxury multifamily community located in Atlanta’s Buckhead district. Robert LaChapelle and Blake Cohen of CBRE secured the loan through New York Life on behalf of the owner, ORIX Corp. Shea Campbell, Ahish Cholia, Colleen Hendrix and Don Hoffman of CBRE represented the seller, AMLI Residential, in the transaction. Rebranded as Akari Buckhead, the apartment tower rises 24 stories and serves as a centerpiece for AMLI’s 1,302-unit, four-property campus that surrounds the 1.5-acre Marie Sims Park. The community, which was 96 percent occupied at the time of financing, offers studio, one-, two- and three-bedroom floorplans, as well as penthouses. Amenities include laundry services, a pet play area, pet washing station, electric vehicle charging stations and onsite retail, management and maintenance services.
SAN JOSE, CALIF. — Kennedy Wilson has partnered with two Japanese investment firms to acquire One South Market, a 312-unit community in downtown San Jose, for $176 million. The investment partners are Tokyo-based real estate company Hulic Co. Ltd. and Fuyo General Lease (USA) Inc., the U.S. subsidiary of Japanese financial services company Fuyo General Lease Co. Ltd. The acquisition marks Beverly Hills, Calif.-based Kennedy Wilson’s fifth joint venture with Hulic and its first with Fuyo. Locally based Lakevision Capital was the seller. Built in 2015, One South Market is located adjacent to San Pedro Square. The high-rise community features 312 units as well as 6,534 square feet of fully leased ground-floor retail. CBRE’s Jon Teel represented the buyers in the transaction.
CLAREMONT, N.C. — Conshohocken, Pa.-based Maguire Hayden Real Estate has sold a 395,990-square-foot industrial building in Claremont, a northern Charlotte suburb in Catawba County, to Box Equities for $22.1 million. Michael Scarnato, Pete Pittroff and Dave Andrews of JLL represented Maguire Hayden in the sale. Situated on approximately 17.9 acres, the industrial property includes 364,000 square feet of warehouse space, along with offices and other support areas. The facility also features 24 dock-high loading doors, clear heights ranging from 14 to 20 feet, truck courts ranging from 135 to 185 feet, a dedicated trailer parking lot and 109 car parking spaces. Maguire Hayden originally acquired the property through a sale-leaseback transaction and subsequently leased the entire building to CertainTeed, a wholly owned subsidiary of global building materials manufacturer Saint-Gobain. Maguire Hayden completed a capital improvements program during its ownership that included a new roof overlay and LED lighting throughout the facility. The building was originally constructed in 1986 and was renovated in 2011.
THORNTON, COLO. — EastGroup Properties has acquired 25 Commerce Park, a Class A industrial campus in Thornton, from Rockefeller Group for $94.5 million. Jeremy Ballenger and Tyler Carner of CBRE represented the seller in the deal. CBRE’s Todd Witty and Daniel Close fully leased the project prior to being marketed for sale. Completed by Rockefeller Group in 2025, 25 Commerce Park features three buildings offering a total of 453,550 square feet of industrial space. At the time of sale, the property was fully leased to four tenants. The campus features modern building depths, high-clear warehouse space, ESFR sprinkler systems, extensive dock-high loading capabilities, trailer parking and efficient site circulation. Designed by Grey Wolf Architecture and built by Golden Triangle Construction, 25 Commerce Park is located at 15003-15107 Grant St. at the intersection of Interstate 25 and E-470.
TROY, MICH. — Marcus & Millichap Capital Corp. (MMCC) has arranged $25 million in financing for the acquisition of a 62,364-square-foot retail property in Troy. Todd Phillips of MMCC arranged the loan through a national bank. It features a seven-year term, 6.1 percent interest rate and 30-year amortization period. The property, located near I-75, is home to several national restaurants and retailers.
COLUMBUS, OHIO — Byline Bank’s Commercial Real Estate Group has provided a $17.5 million term loan to The Schirm Firm to finance the acquisition of Trotters Park, a multifamily property located at 720 Michigan Ave. in Columbus. The community is situated in an infill pocket between downtown Columbus and The Ohio State University. A citywide walking and bike trail borders the property. Sarah Hunter, Mason Tittle, Matt Smith and Eric Estela of Byline Bank handled the transaction.