WEST SPRINGFIELD, MASS. — Colliers has negotiated the $2.7 million sale of a 190,000-square-foot industrial building in West Springfield, about 90 miles west of Boston. The single-tenant building at 100 Palmer Ave. sits on 12.8 acres. According to LoopNet Inc., the property was built in 1920 and features seven dock-high loading doors and two grade-level loading doors. Christian Dietz and Bob Pagani of Colliers represented the seller, Westrock Container LLC, in the transaction. The buyer was JDZ Realty LLC.
PHOENIX — Kidder Mathews has arranged the sale of Rancho Encanto, a grocery-anchored retail center in Phoenix. Dayanim Real Estate Corp. sold the asset to Junam Enterprises for $10.5 million. Located at 3434 W. Greenway Road, Rancho Encanto offers 70,439 square feet of retail space, with Smart & Final and Aaron’s as anchor tenants. Darren Tappen, Nathan Thinnes, Pete Beauchamp and Patrick Gardner of Kidder Mathews represented the seller and buyer in the deal. Following the sale, Junam Enterprises selected Kidder Mathews to manage the property.
INDIANAPOLIS — Standard Real Estate Investments LP and Arrow Street Development have sold Wesley Place, a 244-unit luxury apartment complex in downtown Indianapolis. The complex marks the only luxury residential building in the Medical District and was built in 2023 as part of Standard’s strategic investment program with Belay Investment Group LLC. Situated on 2 acres, the community is within walking distance of Indiana University Health Campus, a $4.3 billion expansion and redevelopment project that broke ground in 2022. Wesley Place was 91 percent leased at the time of sale. Amenities include a game room, resident lounge, pet spa, fitness center, bike storage and an interior courtyard with a pool deck. Wesley Place also includes 3,000 square feet of street-level retail space and parking for 327 vehicles. Amanda Friant, Ken Martin, Mark Stern, Zach Kaufman and Sam Grohe of JLL represented the sellers. The buyer and sales price were undisclosed.
BLOOMFIELD HILLS, MICH. — Mid-America Real Estate Corp. has brokered the sale of Bloomfield Plaza, a 151,673-square-foot shopping center in the Detroit suburb of Bloomfield Hills. The sales price was undisclosed. Anchor tenants at the fully leased property include Nino Salvaggio International Marketplace and Trader Joe’s. Additional tenants include Andiamo Italian, CVS, Planet Fitness and Sephora. Located at the southwest corner of Maple and Telegraph Roads, the center has served the community since 1957. Ben Wineman and Daniel Stern of Mid-America represented the seller, the family owners of Bloomfield Plaza’s original developer. Jack Berke of Taylor Real Estate Services represented the buyer, a private investor.
HOUSTON — Partners Capital, the investment arm of Partners Real Estate, has purchased Dixie Farm Business Park, a 196,000-square-foot industrial flex property in southeast Houston. The property comprises eight buildings at the northeast corner of I-45 and Dixie Farm Road. Veritex Community Bank provided acquisition financing for the deal. The seller and sales price were not disclosed. Dixie Farm Business Park was 96 percent leased at the time of sale. The new ownership plans to implement a value-add program.
IRVING, TEXAS — Locally based investment sales brokerage firm STRIVE has arranged the sale of Plaza One61, a 195,172-square-foot office complex in Irving. According to LoopNet Inc., the four-story building was originally constructed in 1999. Parker Tims and Jennifer Pierson of STRIVE represented the seller, an Oklahoma-based investor, in the all-cash transaction and procured the locally based buyer. Both parties requested anonymity. Plaza One61 was 74 percent leased at the time of sale.
MCKINNEY, TEXAS — Dallas-based Younger Partners Investments has acquired 380 Towne Crossing, a 137,287-square-foot shopping center in McKinney. The center, which was 98 percent leased at the time of sale, was built in 2007 at the northwest corner of US Highway 75 and State Highway 380. Tenants include FedEx Office, Buffalo Wild Wings, Leslie’s Pool Supplies, Cook Children’s Pediatrics, Storming Crab, Jimmy John’s and Mattress Firm. Development firm Weber & Co. was the seller.
WAXAHACHIE, TEXAS — A partnership between Denver-based Quannah Partners and Dallas-based VaultCap Partners has sold The Townhomes at Bluebonnet Trails, a 114-unit multifamily property located in the southern Dallas suburb of Waxahachie. The property offers three- and four-bedroom residences with private patios/balconies as well as various outdoor amenities. Eric Stockley, Taylor Snoddy and Charles Hubbard of Northmarq arranged the sale of the property. The buyer and sales price were not disclosed.
MEDWAY, MASS. — New York City-based CP Capital has sold Hathon Medway, a 190-unit apartment complex located about 45 miles southwest of Boston. Built on 12.3 acres in 2023, Hathon Medway features 142 market-rate and 48 affordable units within four- and five-story buildings. Amenities include a pool, fitness center, coworking space, a clubroom, game room and bar area, demonstration kitchen, playground and a dog run. The buyer and sales price were not disclosed.
DEPTFORD, N.J. — Marcus & Millichap has brokered the $5.4 million sale of Medical at Riverwinds, a 23,525-square-foot healthcare and retail property in Deptford, located outside of Philadelphia in Southern New Jersey. The two-building property sits on 2.2 acres and was fully occupied at the time of sale. Brent Hyldahl, Alan Cafiero and Seth Goldberg of Marcus & Millichap represented the seller, Strategic Funding Alternatives LLC, in the transaction and procured the buyer, a New York-based private investor.