LITTLE ELM, TEXAS — Marcus & Millichap has brokered the sale ofIndia Bazaar Plaza, a 13,079-square-foot retail strip center in Little Elm, located in the northern-central part of the metroplex. The center was built in 2018 and was fully leased at the time of sale to an ethnic grocer of the same name and Shahnaz Salon & Threading. Scott Abeel and Philip Levy of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors that requested anonymity, in the transaction.
SAN FRANCISCO — BridgeInvest, an investment manager specializing in senior-secured real estate credit, originated an $87.9 million first priority acquisition loan and lease-up of 300 Kansas Street, a six-story Class A research and development property in San Francisco’s Mission bay submarket. Constructed in 2023, the 152,000-square-foot property will continue to be leased and stabilized by the sponsors, Lincoln Property Co. and Sabal Investment Holdings.The loan was originated through BridgeInvest Credit Fund V LP, the firm’s evergreen discretionary fund focusing on first-lien loans across a diversified set of real estate asset types.
BEAVERTON, ORE. — Taylor Morrison has completed the sale of West End District, an apartment community in Beaverton, to Grand Peaks, in partnership with PCCP, for $85.2 million. Joe Nydahl and Josh McDonald of CBRE represented the seller in the deal. Freddie Mac provided acquisition financing for the buyer. Situated on 13.5 acres at 14700 S.W. Rocket St., West End District features 424 studio, one- and two-bedroom units across 12 four-story residential buildings and 34,262 square feet of ground-floor retail space. The asset was completed in 2021 and 2022.
TUKWILA, WASH. — Sagard Real Estate has purchased 1100 Andover Park West, an industrial asset in Tukwila, approximately 12 miles south of Seattle. Situated on 5.6 acres, the 133,750-square-foot property features a clear height of 24 feet, 16 dock-high loading doors and four points of ingress and egress. At the time of sale, the asset was fully occupied by a national wholesale distributor that has opened at the site for more than 25 years. Sagard Real Estate is a U.S.-based real estate investment advisor and subsidiary of Sagard, a global multi-strategy alternative asset management firm.
GRESHAM, ORE. — HFO Investment Real Estate has arranged the $10 million sale of Applegate Apartments, a multifamily community at 17726 S.E. Division St. in Gresham. Greg Frick, Jack Stephens and Yuriy Chubok of HFO represented the buyer and seller, both private local investors, in the transaction. Built in 1979 on 3.1 acres, Applegate is comprised of 12 two-story buildings offering a total of 78 one-, two- and three-bedroom units, with an average unit of 809 square feet. All units include in-unit laundry hookups, and recent capital improvements include new siding, a new roof and windows.
PLEASANT PRAIRIE, WIS. — Avison Young has brokered the sale of a 200,696-square-foot food production facility located within LakeView Corporate Park in Pleasant Prairie. Royal Oak Realty Trust, a New York-based real estate investment trust, acquired the property. Erik Foster and Mike Wilson of Avison Young represented the seller, EQT Real Estate. Constructed in 2017, the facility is fully leased to a national bakery products supplier.
POUGHKEEPSIE, N.Y. — Marcus & Millichap has brokered the $4.5 million sale of a portfolio of three mixed-use properties in Poughkeepsie, located north of New York City. The 28,990-square-foot portfolio consists of a mixed-use building with four commercial spaces and eight residential units, a 15-unit residential building with a commercial space and a five-unit residential structure. Brian Kaplan and John Horowitz of Marcus & Millichap represented the seller, an entity doing business as GSP One LLC, in the transaction.
CHARLOTTE, N.C. — Cuadra Capital, a Charlotte-based real estate investment and operating firm, has acquired multiple retail and mixed-use assets totaling 250,000 square feet across North Carolina and Florida. The acquisitions include State Street Station in Greensboro, College Plaza in Winston-Salem and the Bottleworks District in Wilmington, N.C. The lone Florida acquisition was Park & King in Jacksonville. State Street Station is a 60,977-square-foot, eight-building neighborhood retail center that includes a mix of food-and-beverage, service, medical and wellness retail tenants. The firm also acquired four adjacent parcels from a local owner to expand parking capacity and improve accessibility surrounding State Street Station. College Plaza is a 50,000-square-foot shopping center located across from The Grounds, a 100-acre mixed-use district under construction. The center is home to local tenants such as Jimmy the Greek and Elizabeth’s Pizza. As part of the acquisition, Cuadra also purchased the adjacent parcel situated at 2730 University Parkway, with plans to implement capital improvements at the property. The Bottleworks District is a four-property, 100,000-square-foot mixed-use portfolio that spans three contiguous blocks. The portfolio is home to a mix of food-and-beverage, office and light industrial tenants, including Hi-Wire Brewing, The Ibis, Cugina Forno and the YMCA. Park & King …
OVIEDO, FLA. — CrossMarc Capital LP has acquired The Food Factory at Oviedo on the Park, a 14,000-square-foot, open-air dining and entertainment venue in the northeast Orlando suburb of Oviedo, for $8.3 million. The acquisition includes the Food Factory building, as well as an adjacent parcel where CrossMarc plans to develop a 3,894-square-foot, multi-tenant retail building. Construction is expected to begin in November. Approximately 1,200 square feet has already been preleased to Kilwins, an American confectionary franchise. Winter Park, Fla.-based Michael Collard Properties sourced the off-market transaction.
LOUISVILLE, KY. — Marcus & Millichap has brokered the auction sale of a 25,274-square-foot office property located at 3621 Fern Valley Road in Louisville. Chewy Inc., the online retailer for pet food and medications, occupies the building on a corporate-guaranteed lease with a little more than three years remaining on the initial term and two five-year renewal options. The property serves as the brand’s national call center and training hub that supports Chewy’s pharmaceuticals business. Daniel Greenamyre of Marcus & Millichap marketed the property on behalf of the Chicago-based seller. Greenamyre worked with Paul Casella and Derek Schuster of Marcus & Millichap’s Auction Services team to execute the online auction. Michael Glass served as Marcus & Millichap’s broker of record in Kentucky for the deal. The buyer and sales price were not disclosed.