Acquisitions

Clear Capital Sells 125-Unit Multifamily Community in Ontario, California for $46.3M

by Amy Works February 14, 2025

ONTARIO, CALIF. — Clear Capital has completed the disposition of Rancho Vista Apartments in Ontario to Convenient Holdings for $46.3 million, or $370,200 per unit. Built in 1984, the community offers 125 two- and three-bedroom apartments, averaging 1,022 square feet. Unit amenities include direct access to two-car garages with washer and dryer connections, private balconies off the primary bedrooms, central conditioning and heat. Community amenities include a cardio and weight training center, swimming pool, picnic area, private yards, fully furnished sundecks, a children’s park and on-site maintenance. Additionally, the previous owner installed a solar panel electric system that offsets residents’ energy bills. Alexander Garcia Jr., Kyle Pinkalla, Chris Zorbas, Kevin Green, Joseph Grabiec and Gregory Harris of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the deal.

February 14, 2025

Acquisitions California Restaurant Retail Western

SRS Brokers $6.8M Ground Lease Sale of Restaurant Property in Riverside, California

by Amy Works February 14, 2025

RIVERSIDE, CALIF. — SRS Real Estate Partners has brokered the ground lease (land ownership) sale of a restaurant property located at 4100 Central Ave. in Riverside. A Southern California-based developer sold the asset to a Washington-based private investor for $6.8 million. Raising Cane’s occupies the 3,267-square-foot property, which was built in 2024 on 1.3 acres, on a corporate-guaranteed, absolute triple-net, 15-year ground lease. Patrick Luther and Matthew Mousavi of SRS Capital Markets represented the seller in the transaction.

February 14, 2025

Acquisitions Healthcare Midwest Minnesota

Marcus & Millichap Negotiates $2.8M Sale of Veterinary Office Portfolio in Minnesota

by Kristin Harlow February 14, 2025

NEW ULM AND MANKATO, MINN. — Marcus & Millichap has negotiated the sale of two single-tenant animal hospital properties in Minnesota for $2.8 million. The portfolio includes New Ulm Regional Vet Center at 401 20th St. in New Ulm and River Hills Pet Care Hospital at 340 St. Andrews Drive in Mankato. The New Ulm property was built in 1998, and the Mankato facility was constructed in 2017. Both are fully leased to PetVet Care Centers, which has operated at both locations since 2019. PetVet was founded in 2012 and currently has more than 450 veterinary locations nationwide. William Skoch and Christopher Mitchel of Marcus & Millichap represented the seller, a group of six veterinarians who had owned the buildings for more than 27 years, and procured the buyer, a real estate investment trust focused exclusively on acquiring veterinarian-centric real estate nationwide.

February 14, 2025

Acquisitions Illinois Midwest Retail

Greenstone Partners Brokers $2.4M Sale of Retail Property in Chicago’s Lincoln Park

by Kristin Harlow February 14, 2025

CHICAGO — Greenstone Partners has brokered the $2.4 million sale of The Retail Shops on Lincoln Avenue, a fully leased, three-tenant retail property in Chicago’s Lincoln Park neighborhood. The transaction closed at over $460 per square foot to a local private investor. The asset boasts a 7.7-year weighted average lease term, and the tenant roster includes Play, Junior Chefs Kitchen and That Face Facial Plastic Surgery. Jason St. John and Brewster Hague of Greenstone represented the seller, a Chicago-based developer, and procured the buyer.

February 14, 2025

Acquisitions Industrial Texas

Dalfen Industrial Acquires 130,000 SF Property Near DFW International Airport

by Taylor Williams February 14, 2025

IRVING, TEXAS — Locally based investment and development firm Dalfen Industrial has acquired a 130,000-square-foot property that is located about three miles south of DFW International Airport in Irving. The cross-dock facility was built in 2016 and features 32-foot clear heights and 130- to 185-foot truck court depths, as well as proximity to State Highways 360, 161 and 183. The seller and sales price were not disclosed. The deal traded off-market.

February 14, 2025

Acquisitions Industrial Texas

Finial Group Negotiates Sale of 12,000 SF Warehouse in East San Antonio

by Taylor Williams February 14, 2025

SAN ANTONIO — Houston-based brokerage firm Finial Group has negotiated the sale of a 12,000-square-foot warehouse located at 4223 Dividend Road on the east side of San Antonio. According to LoopNet Inc., the building was constructed in 2018 and features 22-foot clear heights. Chase Tucker, Jack Gaffney, and William Alcorn of Finial Group represented the undisclosed seller in the transaction.

February 14, 2025

130-Mount-Holly-Bypass-Lumberton-New-Jersey

Acquisitions Industrial New Jersey Northeast

Camber, Invesco Buy 384,335 SF Industrial Portfolio in Southern New Jersey

by Taylor Williams February 14, 2025

HAINESPORT AND LUMBERTON, N.J. — A partnership between New Jersey-based Camber Real Estate Partners and Atlanta-based global investment manager Invesco has acquired a portfolio of five industrial buildings totaling 384,335 square feet in Southern New Jersey. The buildings, which were originally developed by Whitesell Real Estate Group, are located off Exit 5 of the New Jersey Turnpike in Hainesport and Lumberton and feature clear heights of 30 feet. Michael Hines, Joe Hill and Brad Ruppel of CBRE represented the seller in the transaction.

February 14, 2025

Acquisitions Multifamily New Jersey Northeast

Kislak Negotiates $2.8M Sale of Belleview Commons Apartments in Trenton

by Taylor Williams February 14, 2025

TRENTON, N.J. — Locally based brokerage firm The Kislak Co. Inc. has negotiated the $2.8 million sale of Belleview Commons, a 24-unit apartment building in Trenton. The three-story building houses a mix of studio, one- and two-bedroom units and recently underwent a capital improvement program. Barry Waisbrod of Kislak brokered the deal. The buyer and seller were not disclosed.

February 14, 2025

Acquisitions Development Industrial South Carolina Southeast

Isuzu Acquires 1 MSF Industrial Facility in Upstate South Carolina, Plans to Invest $280M for Assembly Plant

by John Nelson February 13, 2025

PIEDMONT, S.C. — Isuzu North America Corp., a subsidiary of Japanese automobile manufacturer Isuzu, has acquired Enterprise 85, a 1 million-square-foot industrial facility located at 7745 Augusta Road Piedmont. Situated on over 200 acres in South Carolina’s Upstate region near I-185, the building will house an assembly plant to expand Isuzu’s vehicle supply capabilities in North America. Isuzu’s estimated $280 million investment at the facility will create more than 700 new jobs, with operations anticipated to begin in 2027. The property was recently developed on a speculative basis by SunCap Property Group and the real estate arm of Goldman Sachs Asset Management. Garrett Scott, John Montgomery, Brockton Hall and Dillon Swayngim of Colliers’ Spartanburg, S.C., office represented SunCap in the transaction.

February 13, 2025

Acquisitions Alabama Retail Southeast

FNRP Purchases 67,662 SF Shopping Center in Montgomery, Alabama

by John Nelson February 13, 2025

MONTGOMERY, ALA. — First National Realty Partners (FNRP) has purchased Country Club Centre, a 67,662-square-foot shopping center located at 1702-1796 Carter Hill Road in Montgomery. The property sits on a 4.8-acre site and was 85 percent leased at the time of sale to tenants including anchors Winn-Dixie (35,922 square feet) and Dollar Tree (9,140 square feet). Other tenants include Staying Classy Boutique, Wingstop, China Sea Kitchen, Subway, Naz’s Boutique & Spa, Pro Nails, Mutt Cuts and Martin’s Restaurant. Gary Chou of Berkeley Capital Advisors represented the undisclosed seller in this transaction. The sales price was also not released. Country Club Centre represents FNRP’s fifth acquisition in Alabama.

February 13, 2025

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