BIRMINGHAM, MICH. — Colliers has arranged the sale of a 20,000-square-foot office building in Birmingham, a northern suburb of Detroit. The sales price was undisclosed. Kalasho Management, a property management company, purchased the building and plans to make major renovations. Taunt Law Firm previously occupied the property for many decades. Gary Grochowski and Bryan Barnas of Colliers represented the buyer and seller.
ROSEVILLE, MINN. — Realterm has acquired a 6.3-acre industrial outdoor storage facility in the Minneapolis suburb of Roseville for an undisclosed price. Developed in 2021, the Class A property at 2340 Rose Place West features five oversized drive-in doors, four dock-high loading positions and a two-story, 7,300-square-foot office component. The site is fully leased to an asset-light freight and logistics company that provides services across the United States and Canada. Chris Weirens of Transwestern facilitated the transaction and represented the undisclosed seller. The transaction marks Realterm’s third acquisition in the region.
IRVING, TEXAS — Cushman & Wakefield has brokered the sale of Valley View Business Center, a 414,871-square-foot distribution center in Irving. The property, which is located just south of Dallas-Fort Worth International Airport, was completed in 2009 and was fully leased to two tenants at the time of sale. Building features include 30-foot clear heights and four points of ingress/egress. Jim Carpenter, Jud Clements, Robby Rieke and Trevor Berry of Cushman & Wakefield represented the seller, a fund backed by Brookfield Asset Management, in the transaction. The buyer was Boston-based Longpoint Partners.
JERSEY CITY, N.J. — Nashville-based brokerage firm Matthews Real Estate Investment Services has negotiated the $12.6 million sale of Lofts on Garfield, a 35-unit apartment building in Jersey City. Lofts on Garfield is a conversion of a former vacant warehouse that according to LoopNet Inc. was originally built in 1953. Information on floor plans and amenities was not disclosed. David Ferber and Jordan Anhalt of Matthews represented the buyer and seller, both of which requested anonymity, in the transaction.
EAST HAVEN, CONN. — Marcus & Millichap has brokered the $7.1 million sale a 210,314-square-foot industrial property in East Haven that serves as the headquarters of Town Fair Tire. The 38.5-acre property features 207,000-square-foot distribution center with 20,000 square feet of office space, a freestanding call center and a 176-stall trailer parking/storage area. Harrison Klein, Jim Koury and Alex Quinn of Marcus & Millichap represented the seller, Mellen East Haven Associates LLC, in the transaction and procured the undisclosed buyer.
DORAL, FLA. — Metro Seattle-based Terreno Realty Corp. has acquired Terreno Doral Air Logistics, an industrial park in the Miami suburb of Doral, for $195.6 million. The seller was not disclosed. Located at 7725-7785 N.W. 41st St., the facility is situated near the Palmetto Expressway and Miami International Airport. The property provides 110 dock-high loading positions, 36-foot clear heights, six grade-level loading positions, parking for 528 cars (including 11 electric vehicle charging stations) across three rear-load industrial distribution buildings that span approximately 496,000 square feet. The 23.4-acre property was 76 percent leased at the time of sale to six tenants.
KENT, WASH. — CBRE has negotiated the $64.2 million sale of the 315,422-square-foot Seattle Industrial Portfolio. The names of the seller and buyer were not released. Brett Hartzell, Paige Morgan, Andrew Stark and Andrew Hitchcock of CBRE National Partners represented the undisclosed the seller. The portfolio includes two industrial facilities: Kent Valley DC II at 6111 S. 228th St. and Kent Valley DC IV at 6205-6305 S. 231St. The distribution buildings were constructed between 1995 and 1997 and offer 30-foot clear heights and a high dock-door count.
SCOTTSDALE, ARIZ. — Phoenix-based developer George Oliver, in partnership with Ascentris, has acquired 7272 East Indian School Road, a 165,220-square-foot office building in the Old Town neighborhood of Scottsdale, for $42.2 million. The purchase, which follows the partnership’s mid-2024 acquisition of 4141 and 4167 N. Scottsdale Road, expands the companies’ Old Town Scottsdale footprint to more than 350,000 square feet. The partnership plans to redevelop the properties into a new trademark George Oliver experiential office campus. The Old Town assemblage occupies approximately 6 acres at the corner of Scottsdale and Indian School roads. Design concepts for the campus are underway, with renovations slated to begin in 2025. The design and architecture for the new Old Town Scottsdale assemblage is being led by George Oliver Design. JLL’s Ben Geelan, Will Mast, Jack Miller and Gigi Martin represented the seller in the acquisition.
MONTGOMERY, ALA. — A partnership between DWG Capital Partners and Dorado Holdings has purchased Cloverdale Estates, a 106-unit multifamily community located at 3453 Audubon Road in Montgomery. This marks the joint venture’s second acquisition in Montgomery, following the purchase of the 96-unit Greenbriar Apartments in July. Josh Jacobs of Marcus & Millichap’s Birmingham office represented the seller, an entity doing business as RK Cloverdale LLC, in the transaction. The sales price was not disclosed. Cloverdale Estates offers one-, two- and three-bedroom residences ranging in size from 725 to 1,350 square feet. Each apartment features spacious layouts, patios/balconies and select in-unit washer and dryer connections. Approximately 70 percent of the units have been upgraded with high-end finishes, updated mechanical systems and exterior improvements. The new ownership plans to renovate the remaining apartments over the next 24 months.
DENVER — Louisville, Colo.-based Real Capital Solutions (RCS) has acquired Belleview Tower, a 12-story Class B+ office building in Denver’s Tech Center, for $20 million from an undisclosed seller. Totaling 201,670 square feet, Belleview Tower was 75 percent leased at the time of sale. The property features recently renovated corridors, amenities and a lobby. RCS will continue upgrading the property’s amenity package, including enhancements to the fitness center and common areas. The asset is located at 7887 E. Belleview Ave. Charley Will of CBRE brokered the transaction.