STILLWATER, OKLA. — Hanley Investment Group, a California-based brokerage firm, has arranged the $22.5 million sale of Lakeview Pointe Shopping Center, a 207,406-square-foot shopping center in Stillwater. Built on 24.7 acres in 2006, the center was 95 percent occupied at the time of sale to tenants such as Best Buy, Ross Dress for Less, Belk, Five Below and Petco. Jeff Lefko and Bill Asher of Hanley, in association with ParaSell Inc., represented the seller, a partnership between Rubenstein Real Estate Co. and a Kansas-based family office, in the transaction. Scott Taubin of The R.H. Johnson Co. represented the undisclosed buyer.
MATAWAN, N.J. — Pentaurus Properties, a New Jersey-based family office, has purchased a 124-unit apartment complex in Matawan, located in Central New Jersey. Marc Hampton Apartments is a garden-style complex that was built in the 1960s and offers one- and two-bedroom units across 11 buildings. Nat Gambuzza and Trevor Fiebel of Berkadia represented Pentaurus, which plans to implement a value-add program, in the transaction. Joseph Garibaldi, Thomas Walsh and Nick Vanderslice of Colliers represented the undisclosed seller.
NEW LONDON, CONN. — Locally based brokerage firm Chozick Realty has negotiated the $4.6 million sale of a 38-unit apartment complex in the coastal Connecticut city of New London. Garfield Avenue Apartments consists of two three-story buildings that exclusively house one-bedroom units. Jordan Pinto led the Chozick team that brokered the deal. The buyer and seller were not disclosed.
GOLETA, CALIF. — A recapitalization that included Majestic Asset Management, Praelium, Blackbird Investment Group and H.I.G. Capital has acquired Tech Park @ Goleta Portfolio, a Class A technology campus spanning five business parks in Goleta, from David Fradin for an undisclosed price. The campus features 17 buildings offering a total of 733,497 square feet of Class A space designed to accommodate office, flex, laboratory and industrial uses. Approximately 58 percent of the portfolio is dedicated to industrial and R&D space. Sean Fulp, Michael Kendall, Mark Schuessler, Gian Bruno, Kenny Patricia and Blake Hammerstein of Colliers, along with Francois DeJohn and Caitlin Hensel of Hayes Commercial Group, represented Majestic Asset Management in the deal. DeJohn and Hensel represented the seller as well. CBRE’s Brad Zampa and Mike Walker provided debt and structured finance advisory services.
COLORADO SPRINGS, COLO. — CBRE has brokered the $20.5 million sale of the Shops at Dublin Commons, a retail strip center in Colorado Springs. Parker Brown, Matthew Henrichs and Brad Lyons of CBRE represented John Winsor of Olive Real Estate Partners in the transaction. Located at 5925 and 5935 Dublin Blvd., the 34,104-square-foot strip center was built in 2016 and 2018, respectively.
BURBANK, CALIF. — Kidder Mathews has arranged the sale of an industrial property located at 2231-2249 N. Hollywood Way in Burbank. A family-owned investment company sold the building to a local private investor for $14.9 million. Situated on 1.6 acres, the 47,056-square-foot property is fully leased to four tenants. The building features multiple bays and flexible warehouse and office configurations. Tanel Harunzade and Darrell Levonian of Kidder Mathews represented the seller in the deal.
ST. PAUL, MINN. — JLL Capital Markets has brokered the sale of The Hill Apartments, a 162-unit luxury apartment building in St. Paul’s historic Cathedral Hill neighborhood. Josh Talberg, Joseph Peris and Eli Smith of JLL represented the seller, Wolverton Capital. The Hill is the only modern apartment community at scale delivered to the neighborhood, according to JLL.
PLEASANT PRAIRIE, WIS. — Zilber Property Group has acquired approximately 97 acres spanning four parcels within LakeView Corporate Park in Pleasant Prairie. The land sites are capable of accommodating five projects totaling roughly 875,000 square feet. The parcels are some of the last remaining available M-2 zoned (manufacturing and distribution) undeveloped lots within the park. Zilber says it plans to pursue phased development to meet continued demand from manufacturing, distribution and e-commerce users seeking modern, flexible industrial space in Southeast Wisconsin. LakeView Corporate Park, the largest industrial park in Wisconsin, is located directly off I-94 at Highway 165 and spans more than 2,000 acres. The park encompasses more than 10 million square feet of development and is home to nearly 100 companies. Amenities include a recreation center, public lake and park, dedicated nature conservancy, onsite daycare facility and a trail system. The Forest County Potawatomi Community sold the land.
LAUDERDALE LAKES AND LAUDERHILL, FLA. — Cushman & Wakefield has brokered the $81 million sale of an industrial portfolio in South Florida’s Broward County. The portfolio comprises multiple warehouses branded “Elevate Broward” with suites ranging in size from 1,000 to 10,000 square feet. Dominic Montazemi, Mike Davis, Greg Miller, Rick Brugge and Rick Colon of Cushman & Wakefield represented the seller, Harbert Management Corp., in the transaction. The buyer was NorthBridge Partners. The portfolio comprises eight buildings at 3435-3699 N.W. 19th St. in Lauderdale Lakes and three buildings at 3311 and 1842-1896 N.W. 38th Ave. in Lauderhill. The assets were built between 1979 and 1984 and were leased to more than 100 tenants at the time of sale. Prior to the sale, Harbert Management and operator Last Mile Holdings executed a $2.4 million capital improvement plan for the Elevate Broward portfolio. “We have long believed in the enduring strength and potential of the South Florida industrial market, driven by persistent demand for last-mile and small-bay space in this supply-constrained region,” says Oniel Samuel, managing partner at Last Mile Holdings. “Elevate Broward was a strong example of that opportunity, and we appreciated the opportunity to partner with Harbert in supporting the portfolio’s …
ATLANTA — Partners Capital, the investment arm of Houston-based Partners Real Estate, has acquired Powers Ferry Business Park, a five-building flex park in Atlanta’s Cumberland-Galleria submarket. Built in 1982, the 261,949-square-foot campus sits on 26 acres within two miles of Battery Atlanta and Truist Park, home of the Atlanta Braves. Partners Capital purchased Powers Ferry Business Park through Opportunity Fund VI, its newly launched investment vehicle. The seller and sales price were not disclosed, but the Atlanta Business Chronicle reports the property traded for $46.1 million in an off-market transaction. The park was 91 percent leased at the time of sale to 36 tenants. Partners Capital plans to make capital improvements to Powers Ferry Business Park over the course of its ownership.