NEWARK, N.J. — CBRE has negotiated the $37.5 million sale of Springfield Avenue Marketplace, a 110,551-square-foot shopping center in Newark. A 71,000-square-foot Shoprite grocery store anchors the property, which was completed in 2016 and was 97 percent leased at the time of sale. Additional tenants include McDonald’s, Taco Bell, Popeyes and T-Mobile. Jeffrey Dunne, David Gavin, Chris Munley, Colin Behr and Travis Langer of CBRE represented the seller, Goldman Sachs Alternatives, in the transaction. The team also procured the buyer, Medipower, a publicly traded Israeli investment firm. Jim Cadranell, Jon Mikula and Christian Badalamenti of JLL arranged $24.4 million in fixed-rate acquisition financing for the deal through Protective Life Corp.
ANAHEIM, CALIF. — MG Properties has purchased Citron Apartments, a multifamily community located at 901 E. South St. in Anaheim, for $144 million. Built in 2023, the four-story Citron features 314 apartments with modern finishes and upscale amenities. Kevin Mignogna, Charlie Haggard, Lee Scott, Joey Guarino and Michael Beach of Berkadia arranged financing for the transaction through Freddie Mac. With this acquisition, MG has added 17 properties to its portfolio over the past 12 months, totaling more than $2.1 billion.
AURORA, COLO. — Sidford Capital has acquired Aurora Plaza, a shopping center located at 15001-15293 E. Mississippi Ave. in Aurora, from an undisclosed seller for $16 million. Built in 1982 and renovated in 2001, Aurora Plaza offers 115,461 square feet of retail space on 10.6 acres. The property, which is 80 percent occupied, is leased to 27 tenants, including Hero Dental, Kid to Kid, Rent-A-Center and Domino’s Pizza. Jason Schmidt and Austin Snedden of JLL Capital Market’s Investment Sales and Advisory team represented the seller in the deal.
WEST LAFAYETTE, IND. — Argus Self Storage Advisors has arranged the sale of an Extra Space Storage facility in West Lafayette for $7.4 million. Located at 2575 Cumberland Ave., the property features 56,950 net rentable square feet. The transaction included expansion land for an additional 30,000 square feet. Rob Schick of Argus represented the undisclosed seller. The asset was 94 percent leased at the time of sale.
GRAYSLAKE, ILL. — Essex Realty Group LLC has brokered the $5.8 million sale of Glen Street Apartments in Grayslake, about 50 miles north of downtown Chicago. Built in 1984 and located on Glen Street, the asset consists of 40 units. Current ownership has recently made significant capital improvements, including a new parking lot and a full concrete catwalk replacement. Brian Karmowski of Essex represented the undisclosed buyer.
RALEIGH, N.C. — The Macerich Co. (NYSE: MAC) has acquired Crabtree Valley Mall, a Class A retail property totaling approximately 1.3 million square feet in Raleigh, for $290 million. The seller was an entity doing business as CVM Holdings LLC, according to local news outlet WRAL. The largest mall in North Carolina’s Research Triangle area, Crabtree opened in 1972 and is home to more than 200 stores and restaurants. Anchor tenants at the property include Belk and Macy’s. Additional retailers include Apple, Banana Republic, Brahmin, Brooks Brothers, Build-A-Bear Workshop, Chubbies, Coach, H&M, The LEGO Store, Michael Kors, TAG Heuer and Tommy Bahama. Kanki Japanese House of Steaks & Sushi, P.F. Chang’s China Bistro, The Cheesecake Factory, Seasons 52, Brio Italian Grill and Fleming’s Prime Steakhouse & Wine Bar are some of the mall’s restaurant tenants. According to Macerich, Crabtree generates $429 million in annual sales, $951 in sales per square foot and over 8.7 million annual visitors. “Crabtree checks all the boxes for pursuing opportunistic external growth,” says Jack Hsieh, president and CEO of Macerich. Over the course of 2025 through 2028, Macerich plans to invest roughly $60 million of redevelopment and leasing capital to maximize the center’s performance. Enhancements …
CORPUS CHRISTI, TEXAS — Self-storage brokerage firm Versal has negotiated the sale of Fox Mini Storage, a 396-unit facility located at 5734 Wooldridge Road in Corpus Christi. The facility spans 46,375 net rentable square feet. Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of Versal represented the seller, Corpus Christi-based Fox Tree & Landscape Nursery Inc., in the transaction. The team also procured the undisclosed, Fort-Worth based buyer.
IRVING, TEXAS — Atlanta-based brokerage firm Hunter Hotel Advisors has arranged the sale of the 135-room Hilton Dallas-Irving-Las Colinas hotel. The hotel offers amenities such as a pool, fitness center, meeting rooms and complimentary breakfast. A Louisiana-based developer purchased the property from a New York-based investment firm for an undisclosed price. Kami Burnette and Mason McDavid of Hunter Hotel Advisors brokered the deal.
WASHINGTON, D.C. — Shorenstein Investment Advisers has purchased 901 K Street, a 219,956-square-foot trophy office building in Washington, D.C.’s East End submarket. The seller and sales price were not disclosed, but multiple media outlets report that Carr Properties sold the office building for $84 million. Tenants at 901 K Street include Microsoft, Baker Donelson and ViaSat. Shorenstein has selected Eli Barnes, Jonathan Wellborn and Will Stern of Avison Young to lease 901 K Street. Shorenstein plans to enhance the office building’s amenity offerings with a new conference facility and tenant lounge. Other amenities include a rooftop terrace with a catering kitchen for events, fitness center and a 222-space parking garage.
TYSONS, VA. — JBG Smith has acquired Tysons Dulles Plaza, a 15-acre office campus in the Washington, D.C., suburb of Tysons. The seller and sales price were not disclosed, but Washington Business Journal reports the property traded for $42.3 million. The three-building campus spans approximately 500,000 square feet of office space and includes 1,553 parking spaces. The property is within walking distance of Silver Line’s Spring Hill Metro station and adjacent to Dulles Toll Road. JBG Smith intends to re-entitle and redevelop one of the three office buildings for residential use, and the other two buildings will be enhanced to remain in long-term operation for office tenants. The timeline for the redevelopment of Tysons Dulles Plaza was not released.