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Acquisitions

Oaks-on-Marketplace-Kyle
AcquisitionsMultifamilyTexas

SPI Advisory Sells 254-Unit Oaks on Marketplace Apartments in Kyle, Texas

by Taylor Williams

KYLE, TEXAS — Texas-based private equity firm SPI Advisory has sold Oaks on Marketplace, a 254-unit apartment complex located in the southern Austin suburb of Kyle. The property was built in 2017 and offers one-, two- and three-bedroom units. According to Apartments.com, amenities include a pool, fitness center, clubhouse and a dog park. SPI Advisory acquired the property in 2019 as part of a portfolio deal and implemented a value-add program. The buyer was not disclosed, but the property website currently identifies metro Chicago-based Sherman Residential as the owner and operator. The new ownership has rebranded the property as Axis Marketplace.

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AcquisitionsIndustrialTexas

NAI Robert Lynn Brokers Sale of 61,458 SF Warehouse in Arlington

by Taylor Williams

ARLINGTON, TEXAS — NAI Robert Lynn has brokered the sale of a 61,458-square-foot warehouse in Arlington. According to LoopNet Inc., the property at 525 113th St. was built on 2.8 acres in 1970, renovated in 2014 and features 21-foot clear heights, 100-foot truck court depths and parking for 56 cars. Michael Stanzel of NAI Robert Lynn represented the seller, JTM Management LLC, in the transaction. Eugene Krasny of KEI Realty represented the buyer, Weby Holdings Inc.

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AcquisitionsIndustrialMidwestMissouriOhio

Matthews Real Estate Brokers $11M Sale of Industrial Portfolio in Ohio, Missouri

by Kristin Harlow

CINCINNATI AND BELTON, MO. — Matthews Real Estate Investment Services has brokered the sale of a two-property industrial portfolio in Cincinnati and Belton, Mo., for $11 million. SiteOne occupies the buildings, which total 37,201 square feet. The seller was the founder of Semco Stone, one of the largest natural stone distributors in the Midwest. SiteOne Landscape Supply acquired Semco Stone in 2021. An all-cash buyer purchased the portfolio at a cap rate of 6.55 percent. Taylor Dintzner, Erik Manarino and John Stroud of Matthews brokered the sale.

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AcquisitionsIllinoisMidwestMultifamilySeniors Housing

SLIB Arranges Sale of 188-Unit Seniors Housing Property Near Chicago

by Kristin Harlow

CHICAGO — Senior Living Investment Brokerage (SLIB) has arranged the sale of a 188-unit independent living, assisted living and memory care community in a southern submarket of Chicago. The seller was a Midwest-based institutional capital provider, and the buyer was a Midwest-based owner-operator looking to expand its footprint throughout the region. Brad Clousing, Daniel Geraghty and Ryan Saul of SLIB brokered the transaction.

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AcquisitionsIllinoisMidwestMultifamily

Marcus & Millichap Negotiates Sale of 23-Unit Multifamily Portfolio in Midlothian, Illinois

by Kristin Harlow

MIDLOTHIAN, ILL. — Marcus & Millichap has negotiated the sale of the Karlov & Keystone Portfolio, a 23-unit multifamily portfolio in Midlothian, a southwest suburb of Chicago. The sales price was undisclosed. Originally built in the 1960s, the properties are located along Karlov and Keystone avenues near I-294 and Route 57. Ryan Engle, Andrean Angelov, Sam Antreasian and Zack Mahoney of Marcus & Millichap represented the seller, a private investor. Engle, Angelov and Antreasian represented the buyer, a private investor.  

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3091-Route-22-E.-Branchburg-New-Jersey
AcquisitionsIndustrialNew JerseyNortheast

CBRE Brokers Sale of 311,040 SF Industrial Building in Branchburg, New Jersey

by Taylor Williams

BRANCHBURG, N.J. — CBRE has brokered the sale of a 311,040-square-foot industrial building in the Northern New Jersey community of Branchburg. The building sits on a 26.2-acre site at 3091 Route 22 E. and features a clear height of 40 feet and 42 loading docks. Randy Eigen of CBRE represented the buyer, an entity doing business as TYH Branchburg LLC, in the transaction. Matthew Turse, Tim Cadigan, Judy Troiano, John Gianis and Stephen Gianis of Avison Young represented the seller and developer, Transwestern Development Co.

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AcquisitionsIndustrialNew JerseyNortheast

Colliers Negotiates Sale of 17,768 SF Industrial Building in Mount Laurel, New Jersey

by Taylor Williams

MOUNT LAUREL, N.J. — Colliers has negotiated the sale of a 17,768-square-foot industrial building located just outside Philadelphia in Mount Laurel. The building, which according to LoopNet Inc. was built in 1970 and features a clear height of 16 feet, was renovated in 2017 and fully leased at the time of sale. Marc Isdaner and Ian Richmond of Colliers represented the seller, East Capital Partners, in the transaction. The buyer was an undisclosed 1031 exchange investor.

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Plaza-Taos-Chandler-AZ
AcquisitionsArizonaMultifamilyWestern

Garrett Cos. Divests of 164-Unit The Plaza Taos Apartment Complex in Chandler, Arizona

by Amy Works

CHANDLER, ARIZ. — The Garrett Cos. has sold The Plaza Taos, a multifamily community in Chandler, to Olympus Partners for an undisclosed price.  Situated off Arizona State Route 87, The Plaza Taos features 164 one-, two- and three-bedroom apartments with open-concept floor plans, washers/dryers and oversized patios/balconies. Completed in 2023, the community offers a heated swimming pool and spa, an off-leash pet park, indoor dog spa and outdoor kitchen with gas grills. Steve Gebing and Cliff David of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller and procured the buyer in the deal. Additionally, Brian Eisendrath, Cameron Chalfant and Jake Vitta of IPA Capital Markets secured a seven-year loan on behalf of the buyer.

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Longbow-Industrial-Park-Mesa-AZ
AcquisitionsArizonaIndustrialWestern

CapRock Buys 244,286 SF Longbow Industrial Park in Mesa, Arizona

by Amy Works

MESA, ARIZ. — CapRock Partners has acquired Longbow Industrial Park, a two-building industrial complex in Mesa, from a private investor for an undisclosed price. Situated on 14.5 acres on the northwest corner of McDowell Road and 58th Circle, Longbow Industrial Park offers a total of 244,286 square feet of Class A industrial space. Both individual buildings feature 30-foot clear heights, 2,400 square feet of speculative office space, warehouse HVAC and LED lighting, dock packages on one-third of the dock-high doors, ESFR sprinklers, ample power, a fully secured, 182-foot concrete truck court and a large wrap-around parking lot with 320 auto stalls. The 129,165-square-foot Building 1 (divisible to 30,031 square feet) offers 36 dock-high doors and four motorized grade-level doors, while the 115,121-square-foot Building 2 (divisible to 26,291 square feet) features 34 dock-high doors and four motorized grade-level doors. Stein Koss, Tom Louer, Marc Pierce and Fenton Kelly at Lee & Associates represented CapRock Partners in the acquisition and is handling leasing for the project.

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1501-Grand-Ave-Phoenix-AZ
AcquisitionsArizonaMultifamilyWestern

Marcus & Millichap Brokers $7.5M Sale of Oasis on Grand Multifamily Property in Phoenix

by Amy Works

PHOENIX — Marcus & Millichap has arranged the sale of Oasis on Grand, an apartment community in Phoenix. Oasis TC LLC sold the asset to 1501 Grand LLC for $7.5 million. Located at 1501 Grand Ave., Oasis on Grand offers 60 apartments. Richard Butler of Marcus & Millichap represented the seller, while Los Angeles-based Stepp Commercial represented the buyer in the deal.

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