Acquisitions

The-Jax-San-Antonio

SAN ANTONIO — Locally based investment firm Kairoi Residential has acquired The Jax, a 322-unit apartment community in northwest San Antonio. Built on 19 acres in 1997, The Jax offers one-, two- and three-bedroom units with an average size of 1,010 square feet. Amenities include a pool, clubhouse, fitness center, business center, dog park, playground and a package handling area. Private garages are available in select residences. Robert Arzola, Robert Wooten and Ryan McBride of JLL represented the undisclosed seller in the transaction.

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HOUSTON — A partnership between Denver-based investment firm Sagard Real Estate and the Ontario Teachers’ Pension Plan Board has purchased 225 Crossing Logistics Center, a 163,402-square-foot industrial facility located at 310 Beltway Green Blvd. in Pasadena, an eastern suburb of Houston. According to LoopNet Inc., the rear-load building was completed in 2024 and features 32-foot clear heights, 18 dock doors, 135-foot truck court depths and 2,376 square feet of speculative office space. The seller and sales price were not disclosed.

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CHARLOTTE, N.C. — A partnership between New York-based Town Lane and locally based Trinity Capital Advisors has purchased 440 South Church, a 15-story office building located in Uptown Charlotte. The seller and purchase price were not disclosed, but Charlotte Business Journal reported that New York-based Epic Investment Partners sold the building for $75.8 million. Patrick Gildea and Matt Smith of CBRE represented the seller in the transaction. J.P. Cordeiro, Mike Ryan and Brian Linnihan of CBRE’s Debt & Structured Finance team arranged acquisition financing. Built in 2009 and lightly renovated in 2022, 440 South Church’s occupancy rate was 47 percent at the time of the sale. Town Lane and Trinity Capital, which is also the 388,657-square-foot tower’s original developer, plan to invest $20 million in capital improvements and renovations, including an overhauled lobby, new lounges, new street-level retail space, updated building systems and upgrades to the amenity level on the second floor. Tenants at 440 South Church include Driven Brands and HDR Engineering.

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DURHAM, N.C. — Accesso has purchased 555 Mangum, a 251,464-square-foot office building located in downtown Durham. The developer and previous owner, Northwood Ravin, sold the Class A office building to Accesso for $72 million. Ryan Clutter, Mike McDonald, Daniel Flynn and C.J. Liuzzo of JLL brokered the sale. Built in 2020 adjacent to the Durham Bulls Athletic Stadium, 555 Mangum features an onsite parking garage comprising 812 spaces, a newly opened rooftop bar and restaurant called The Lenny, a fitness center with locker rooms, conference center and an outdoor courtyard. Tanium, a global cybersecurity firm, recently renewed and expanded its lease to 48,000 square feet at the building.

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SOUTH BRUNSWICK, N.J. — San Francisco-based investment firm Terreno Realty Corp. has sold a 603,000-square-foot industrial property in South Brunswick, about 45 miles south of Manhattan, for $144.2 million. The property address was not disclosed. Terreno bought the original property consisting of 413,000 square feet in 2010 for $22.5 million. In 2013, Terreno acquired the adjacent land and expanded the building by 190,000 square feet. The buyer was also not disclosed.

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NEW YORK CITY — Marcus & Millichap has brokered the $13.5 million sale of a 28-unit apartment building on Manhattan’s Lower East Side. The six-story, recently renovated building at 135 Eldridge St. was originally constructed in 1900 and includes two commercial spaces that are leased to Akiko Nails and Ha’s Dac Biet. Joe Koicim and Logan Markley of Marcus & Millichap represented the undisclosed seller in the transaction. The buyer and sales price were also not disclosed.

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1840-Gateway-San-Mateo-CA

SAN MATEO, CALIF. — Cushman & Wakefield has arranged the sale of 1840 Gateway, a Class A office property in San Mateo. Monday Properties sold the asset to SC Properties for $16.2 million. Gary Boitano, Ryan Venezia, Steve Herman, Jack Depuy, Seth Siegel, Scott Prosser and Courtney Trunnell of Cushman & Wakefield represented the seller and the buyer in partnership with Clarke Funkhouser of JLL. The four-story property offers 70,098 square feet of office space, as well as a recently renovated gym facility with showers. Approximately 75 percent of the building’s square footage is finished as high-end creative space, including renovated restrooms and polished concrete floors. The property also offers a multi-story glass-enclosed lobby and flexible zoning that allows for potential redevelopment to residential use.

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Dill-Dinkers-Frenso-CA

FRENSO, CALIF. — Columbia, Md.-based pickleball concept Dill Dinkers has signed a franchise agreement to open 10 new venues in the Central Valley region of California. Entrepreneurs Bill Revilla and Georgia Revilla will own and operate the locations, which will offer several indoor pickleball courts separated by fences, as well as event space, a ball machine and a reservation system for guests. Founded in 2022, Dill Dinkers currently has nine operating locations in the United States and more than 380 locations under development across Texas, Washington, D.C., North Carolina, Connecticut, South Carolina, Arizona, Maryland, Delaware, Virginia, Georgia, Florida, New York, New Jersey, Pennsylvania and California.

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711-Town-Center-Dr-Oxnard-CA.jpg

OXNARD, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the sale of a single-tenant restaurant property at 711 Town Center Drive in Oxnard. A Texas-based developer sold the asset to a Northern California-based private 1031 exchange investor for $7.2 million. Sean Cox, Jeff Lefko and Bill Asher of Hanley Investment Group represented the seller, while Judson Kauffman of New York-based Surmount represented the buyer in the deal. Shake Shack occupies the 3,286-square-foot property, which was built in 2025, under a new 15-year corporate-guaranteed absolute triple-net ground lease. The building features Shake Shack’s latest prototype with a double-lane drive-thru. Shake Shack operates more than 570 locations across 34 states and over 200 international markets as of third-quarter 2025. The company opened 43 company-operated stores in fiscal-year 2024, marking its highest annual expansion to date.

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WAUKESHA, WIS. — CBRE has arranged the sale of Ridgeview Industrial Center IV in Waukesha for $10 million. Bentley Smith, Joe Horrigan, Ryan Bain, Zach Graham, Judd Welliver and Mike Caprile of CBRE represented the seller, Mohr Capital. Billy Mork, Mike Vannelli and Joel Torborg of CBRE arranged a five-year, fixed-rate acquisition loan on behalf of the buyer, Capital Partners. Located near the I-94 and Redford Boulevard intersection and minutes from Waukesha County Airport, the 89,405-square-foot facility was built in 2001 and renovated in 2021 and 2023. The building features a clear height of 22 feet, one drive-in door, 14 dock doors and a 316-stall parking lot. The asset was fully occupied at the time of sale with a 7.9-year weighted average lease term.

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