FORT WORTH, TEXAS — Marcus & Millichap has brokered the sale of Victory Shops at Heritage Trace IV, an 11,492-square-foot retail strip center in Fort Worth. Tenants at the property, which was fully leased at the time of sale, include Just Love Coffee Café, RevFit, Flossophy Dental Studio and Big Chicken. All tenants operate on triple-net leases. Chris Gainey and Philip Levy of Marcus & Millichap represented the undisclosed seller in the transaction.
OCEANSIDE, CALIF. — ROIC has completed the disposition of Marketplace del Rio, a neighborhood shopping center in Oceanside, approximately midway between Los Angeles and San Diego. A Southern California-based high-net-worth investor acquired the asset for $56.6 million. Situated on more than 20 acres at 3762-3774 Mission Ave., the 183,292-square-foot center is anchored by Stater Bros. Market, which recently signed a long-term lease extension and expansion. The buyer hired 1st Commercial Management Group – San Diego Inc., a subsidiary of West Coast Retail Management, headed by Roberta Degener, to provide management services. Phil Lyons and Chad Iafrate of Cushman & Wakefield represented the buyer, while Jimmy Slusher, James Tyrell and Preston Fetrow of CBRE represented the seller in the deal.
GLENDALE, ARIZ. — CRG has completed the sale of The Cubes at Glendale – Building B, an industrial warehouse facility in Glendale. Funds and accounts managed by BlackRock acquired the asset for an undisclosed price. Located at 15301 W. Northern Ave., The Cubes at Glendale – Building 3 features 1.2 million square feet of Class A industrial warehouse space, 40-foot clear heights, loading, trailer parking, gated and secured concrete truck courts, substantial power, K25.2 ESFR sprinklers, moment framing, heavy industrial zoning and two existing groundwater wells within the park. At the time of sale, the facility was fully occupied. Clayco, CRG’s parent company, served as design-builder and Lamar Johnson Collaborative, CRG’s subsidiary, served as architect. Situated on 335 acres, The Cubes at Glendale features 4.8 million square feet of industrial space. Will Strong, Michael Matchett, Molly Hunt and Dean Wiley of Cushman & Wakefield’s National Industrial Advisory Group – Mountain West represented the seller in the transaction.
HUNTINGTON PARK, CALIF. — Coldwell Banker Commercial West has arranged the sale of Seville Gardens Apartment Community, a seniors housing property located at 2701 Randolph St. in Huntington Park. Seville Gardens LLC sold the asset to Equity Consultants Equity Inc. for $33.7 million. The buyer plans to maintain the property as seniors housing. Built in 1989, Seville Gardens features 225 apartments in a mix of 108 studios, 114 one-bedroom/one-bath and three two-bedroom/one-bath units. Community amenities include secure parking and access, balconies, a recreation room, elevators and on-site laundry. The property is currently under a building covenant that mandates it be used as 55-plus housing with 20 percent of units rented to low-income tenants until 2038. Tom Papoulias of Coldwell Banker Commercial West represented the seller in the transaction.
WENATCHEE, WASH. — Graystoke Capital Partners has received $16.9 million in acquisition financing for The Landing at Saddlerock, a garden-style apartment property located at 1105 Red Apple Road in Wenatchee, approximately midway between Seattle and Spokane. Tony Nargi and Brock Knapp of JLL’s debt advisory team originated the seven-year, fixed-rate, near-stabilization. Fannie Mae loan, which JLL Real Estate Capital will service. Formerly known as Eleven01 at Saddlerock, The Landing at Saddlerock features 84 one-, two- and three-bedroom units featuring quartz countertops, stainless appliances and nine-foot ceilings. Community amenities include a leasing office, dog run, gazebo, gas grills and access to local trail systems. At the time of sale, the property was 82 percent occupied and 85 percent leased. The community opened in December 2023. Fortified Property Solutions, Graystoke’s integrated property management company, will manage the asset. The seller and price were not disclosed.
BUFFALO GROVE, CHICAGO AND MOKENA, ILL. — Stream Realty Partners has acquired a four-building industrial portfolio totaling 599,988 square feet of Class A space in metro Chicago for an undisclosed price. The assets include: Asbury Drive, a 157,000-square-foot building in Buffalo Grove; Rockwell Logistics Center, a 174,262-square-foot property in Chicago; and Mokena Logistics I and II, two buildings totaling 268,226 square feet in Mokena. The portfolio is fully leased to seven tenants. Patrick Russo, Mustafa Ali and Ben Harrison facilitated the acquisition for Stream on an internal basis. Ryan Bain, Michael Caprile, Zach Graham, Judd Welliver, Bentley Smith, Joe Horrigan and Victoria Gomez of CBRE brokered the sale. Local brokers Whit Heitman, Sam Badger, Larry Goldwasser and Terry Grapenthin assisted on the transaction.
GERMANTOWN, WIS. — Mid-America Real Estate Corp. has negotiated the sale of Germantown Plaza in the Milwaukee suburb of Germantown for an undisclosed price. The 63,750-square-foot shopping center is home to Aldi, Petco and Michaels, which have all operated at the property since 2003. Rick Drogosz, George Ghattas and Dan Rosenfeld of Mid-America represented the seller, Crown Group. HJ Development was the buyer.
ROCHESTER, MINN. — Marcus & Millichap has arranged the sale of a Target-shadowed retail strip center in Rochester for $4.2 million. Located at 3801 Marketplace Drive NW just off Highway 52, the 8,780-square-foot property is fully occupied by Spectrum, Potbelly Sandwich Shop, Leann Chin and Infinity Nails. Jared Shapiro, Craig Fuller, Erin Patton and Scott Wiles of Marcus & Millichap represented the undisclosed buyer and seller.
HUDSON, WIS. — Transwestern Real Estate Services has brokered the sale of a 7.1-acre industrial outdoor storage property in Hudson, about 30 miles east of Minneapolis. The asset is located at 2310 O’Neil Road. Chris Weirens of Transwestern represented the seller, Rajean LLC. Interstate Development purchased the asset for an undisclosed price.
NASHVILLE, TENN. — Lion Real Estate Group (LREG) has acquired Bradford Woods, a 312-unit apartment community located at 5242 Edmondson Pike in Nashville. The seller and sales price were not disclosed. Walker & Dunlop’s Nashville office brokered the transaction, which included LREG assuming an existing Fannie Mae loan. LREG plans to rebrand the property as The Grove Brentwood and completely overhaul the leasing office/clubhouse, gym, pool area and all other onsite amenities. Additionally, the company plans to modernize unit interiors with stainless steel appliances, quartz countertops and upgraded lighting. The Grove Brentwood is LREG’s fourth acquisition in its current investment vehicle and 26th property overall in its portfolio that spans across five states.