Acquisitions

Cresa Secures Sale of 30,000 SF Vacant Office Building in Arlington, Virginia

by John Nelson February 19, 2025

ARLINGTON, VA. — Cresa has secured the sale of the Portsmouth Building, a vacant 30,000-square-foot office building located at 3138 10th St. N in Arlington. BRB Development Group paid approximately $200 per square foot for the property, with plans to demolish the building to make way for a new self-storage development. Gene Sachs, Jonathan Harms and Natalie Gosnell of Cresa represented the seller, America’s Credit Unions (ACU), in the transaction. ACU is a merger of the Credit Union National Association (CUNA) with National Association of Federally-Insured Credit Unions (NAFCU). ACU consolidated the two companies into new office space at 99 M St. SE in the metro’s Navy Yard submarket.

February 19, 2025

Acquisitions Industrial Texas

James Campbell Co. Acquires 663,882 SF Industrial Park in Northwest Houston

by Taylor Williams February 19, 2025

HOUSTON — The James Campbell Co., a Hawaii-based investment firm, has acquired Beltway Crossing Northwest, a 663,882-square-foot industrial park in northwest Houston. The development comprises three buildings that were fully leased at the time of sale, as well as a 7.4-acre parcel that can support about 150,000 square feet of additional development. Buildings range in size from 67,200 to 441,000 square feet and feature 24- to 32-foot clear heights. The seller and sales price were not disclosed.

February 19, 2025

Acquisitions Office Texas

Worth & Associates Buys 99,263 SF Office Building in North San Antonio

by Taylor Williams February 19, 2025

SAN ANTONIO — Locally based brokerage and investment firm Worth & Associates has purchased a 99,263-square-foot office building in San Antonio. The four-story building at 800 E. Sonterra Blvd. is located on the city’s north side and was originally constructed in 1999, according to LoopNet Inc. Steve Thomas, Alyse Sellers and Zander Thomas of Stream Realty Partners represented the seller, Energy Transfer, in the transaction. Shawn Gulley and Lukin King represented Worth & Associates on an internal basis.

February 19, 2025

Acquisitions Office Texas

JLL Brokers Sale of 93,578 SF Office Building in West Houston

by Taylor Williams February 19, 2025

HOUSTON — JLL has brokered the sale of Timberway One, a 93,578-square-foot office building located in the Energy Corridor area of West Houston. The three-story building was 92 percent leased at the time of sale to tenants elevator manufacturer thyssenkrupp, 2H Offshore and Medical Care Center. Marty Hogan led the JLL team that represented the seller, Miami-based Banyan Street Capital, in the transaction. The buyer was locally based investment firm LM & Associates.

February 19, 2025

Acquisitions Retail Texas

STRIVE Arranges Sale of 14,812 SF Retail Strip Center in Midlothian, Texas

by Taylor Williams February 19, 2025

MIDLOTHIAN, TEXAS — Dallas-based brokerage firm STRIVE has arranged the sale of Shops on 663, a 14,812-square-foot retail strip center in Midlothian, a southern suburb of Dallas. The name stems from the site’s location on FM 663, and the fully leased center is home to tenants such as Sport Clips and Anytime Fitness. Jack Hicks and Hudson Lambert of STRIVE represented the seller, an Austin-based developer, in the transaction and procured the buyer, a California-based investor. Both parties requested anonymity.

February 19, 2025

Acquisitions New Jersey Northeast Retail

Marcus & Millichap Brokers $8.3M Sale of Shopping Center in Hamilton, New Jersey

by Taylor Williams February 19, 2025

HAMILTON, N.J. — Marcus & Millichap has brokered the $8.3 million sale of Quakerbridge Shoppes, a 42,912-square-foot shopping center located in the Central New Jersey community of Hamilton. The center sits on 5.1 acres and is home to 18 tenants, including Northfield Bank and Villa Maria’s Restaurant. Alan Cafiero and Brent Hyldahl of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

February 19, 2025

Acquisitions Arizona Industrial Western

FJM Merced Associates Buys 26,400 SF Industrial Space in Marana, Arizona

by Amy Works February 19, 2025

MARANA, ARIZ. — FJM Merced Associates LP has acquired 26,400 square feet of industrial space at 6898-6910 N. Camino Martin in Marana, a suburb of Tucson. An entity doing business as Acorn Ventures LLC sold the asset for $2.5 million. Alex Demeroutis and Andrew Keim of Cushman & Wakefield | PICOR represented the buyer, while Max Fisher of BRD Realty represented the seller in the transaction.

February 19, 2025

Acquisitions California Mixed-Use Multifamily Office Retail Western

Marcus & Millichap Brokers $1.4M Sale-Leaseback of Mixed-Use Property in San Rafael, California

by Amy Works February 19, 2025

SAN RAFAEL, CALIF. — Marcus & Millichap has arranged the sale-leaseback of a mixed-use building located at 2066 4th St. in San Rafael. A limited liability company sold the asset to an undisclosed buyer for $1.4 million. Built in 1946, the 5,739-square-foot property offers one retail unit, one office unit, six single-room occupancy units and a one-bedroom/one-bath residential unit. John Lee, Adam Levin and Robert Johnston of Marcus & Millichap represented the seller in the deal. The seller will remain as a commercial tenant at the property.

February 19, 2025

Acquisitions Illinois Industrial Midwest

Westmount Realty Capital Sells 925,391 SF Industrial Portfolio in Metro Chicago

by Kristin Harlow February 19, 2025

BUFFALO GROVE, VERNON HILLS AND ELGIN, ILL. — Westmount Realty Capital has sold a light industrial portfolio in metro Chicago comprising 17 buildings and 925,391 square feet. The portfolio is located within the Lake County and Northern Fox Valley submarkets. Westmount owned and managed the assets for over five years. There are 13 assets in Buffalo Grove and Vernon Hills as well as four properties in Elgin. At the time of sale, the portfolio was 94 percent leased to 154 tenants. New leases with notable tenants included Volkswagen, Subaru of America, Blackjack Lighting, Nexus Pharmaceuticals and American Molecular. Constructed between the late 1980s and early 2000s, the buildings feature an average office finish of approximately 50 percent. Over $6.5 million in total building improvements were completed during the hold period, including modification to reduce office area to meet the demand of the market. The buyer and sales price were undisclosed. Westmount owns and manages 51 buildings totaling nearly 5 million square feet throughout the Chicago market.

February 19, 2025

Acquisitions Indiana Midwest Retail

Regency Properties Acquires 173,773 SF Muncie Towne Plaza Shopping Center in Indiana

by Kristin Harlow February 19, 2025

MUNCIE, IND. — Regency Properties has acquired Muncie Towne Plaza, a 173,773-square-foot shopping center in Muncie. The purchase price and seller were undisclosed. Developed in 1997 and renovated in 2005, Muncie Towne Plaza was fully leased at the time of sale. Key tenants include Kohl’s, TJ Maxx, Old Navy, Ulta Beauty and Shoe Carnival. The property includes a 1.1-acre undeveloped land site immediately adjacent to Old Navy. Regency plans to develop the parcel following consideration of what represents the greatest opportunity between a single- or multi-tenant space. The parcel can accommodate a 50,000-square-foot development. Regency says the purchase underscores its acquisition philosophy as a “county seat” community retail property investor. County seat communities are defined as towns that typically serve as the hub for business, local government, recreation and shopping for a surrounding rural area.

February 19, 2025

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