MILWAUKEE — CBRE has arranged the sale of a five-building, 126,335-square-foot flex industrial property in Milwaukee. Minnesota-based Brait Capital purchased the property from Oyster Two Wisconsin Owner LLC for $6 million. CBRE’s Matson Holbrook, Sean Beuche and Patrick Gallagher represented the seller. Built in 1987, the asset features clear heights ranging from 14.5 to 17 feet, several dock-high and drive-in loading doors and ample parking on a 10-acre site. The property was 67 percent occupied at the time of sale.
Acquisitions
COLUMBIA, S.C. — JLL Capital Markets has negotiated the sale of Gateway One, a 252,720-square-foot distribution facility located within 803 Industrial Park in Columbia. Pete Pittroff, Dave Andrews, Michael Scarnato and Michael Lewis of JLL represented the seller, locally based Magnus Development Partners, in the transaction. Atlanta-based Invesco Real Estate acquired the property for an undisclosed price. Delivered in 2023 as the first building within 803 Industrial Park, Gateway One features tilt-up concrete construction with rear-load configuration, 260-foot depths, 32-foot clear heights, ESFR sprinkler systems and energy-efficient LED lighting with motion sensors. The property is fully leased to four tenants across industries such as manufacturing, consumer products distribution, outdoor recreation and specialty automotive solutions. Gateway One also sits adjacent to Columbia Metropolitan Airport, with immediate access to I-26 and I-77.
HOUSTON — Interra Capital Group has acquired Greenway Plaza, a 4.5 million-square-foot office district and mixed-use development located in southwest Houston. The seller and sales price were not disclosed, but past owners have included Parkway and Cousins Properties. Developed in the late 1960s, Greenway Plaza spans approximately 53 acres and features 11 office towers and is among the largest infill mixed-use business campuses in the United States, according to a press release issued by Interra. “This is a generational asset with unmatched scale, a premier infill location [with] tremendous long-term potential,” says Jack Polatsek, CEO of Interra Capital Group. “We are proud to acquire Greenway Plaza and are committed to making the investments necessary to enhance the campus and strengthen its position as one of the market’s leading business destinations.” “This acquisition is about stewarding a campus that has played an important role in Houston for decades and repositioning it for the future,” adds Anita Kundaje, Interra’s commercial real estate acquisitions manager. “We see tremendous opportunity to unlock value through disciplined execution, creative vision and a deep commitment to the market.” Interra plans to pursue an active ownership and asset management strategy that will be focused on operations, tenant engagement, leasing …
POMPANO BEACH, FLA. — Kurv Industrial, formerly known as Bridge Industrial, has acquired East Pompano Industrial Center, a five-building industrial park in South Florida’s Broward County. The Chicago-based based owner-operator purchased the 818,611-square-foot development from Vancouver-based QuadReal Property Group for $220 million, making the deal the largest industrial acquisition in South Florida this year, according to Kurv. The acquisition is part of the previously announced $789 million joint venture partnership between Kurv and Canada Pension Plan Investment Board (CPP Investments). CBRE National Partners represented the seller in the transaction. East Pompano Industrial Center, which will be rebranded as Kurv Pompano, was 50 percent leased at the time of sale. The park comprises four rear-load facilities with 32-foot clear heights and a low-coverage building delivered in 1993. Kurv plans to invest in speculative office build-outs and energy efficient upgrades at the park during its ownership.
WINTER GARDEN, FLA. — Orlando-based Foundry Commercial has brokered the $24.5 million sale of The Exchange, a mixed-use building located at 270 W. Plant St. in downtown Winter Garden, a suburb of Orlando. Delivered in 2021, the 42,800-square-foot property was fully leased to office tenants and retailers at the time of sale. The buyer is James Larweth, a private investor who has actively acquired assets in downtown Winter Garden. Chris DeMartino, Rick Helton, Dale Peterson, Joe Chick and Christine Mansour of Foundry represented the seller, the Keating family, in the transaction. Jay Strates of The Strates Group was the previous leasing agent for The Exchange and assisted the Foundry team in the sale.
WILMINGTON, MASS. — Regional brokerage firm Atlantic Capital Partners has arranged the $10 million sale of two office buildings totaling 61,888 square feet in Wilmington, a northern suburb of Boston. The buildings at 226 and 230 Lowell St. total 40,899 and 20,989 square feet, respectively, and can also support additional uses. Justin Smith, Chris Peterson, Danielle Turpin and John Dixon of Atlantic Capital Partners represented the undisclosed seller in the transaction. The buyer was also not disclosed.
POUGHKEEPSIE, N.Y. — Regional brokerage firm The Kislak Co. Inc. has negotiated the $8.3 million sale of Hamilton Garden Apartments, a 58-unit building in Poughkeepsie, located north of New York City. The property consists of seven two-story buildings that were built between 1925 and 1965 and house studio, one- and two-bedroom units, as well as onsite laundry facilities. Janet Bortz of Kislak brokered the deal. The buyer and seller were not disclosed.
ALBUQUERQUE, N.M. — SimonCRE has acquired approximately 38 acres of land to develop Lobo Crossing, a 363,000-square-foot, open-air center located on the University of New Mexico’s south campus in Albuquerque. A timeline for the $150 million project was not disclosed. Target will anchor Lobo Crossing, which will feature 11 junior anchors and 45,000 square feet of space for small retail and restaurant operators. Committed tenants include Burlington, Marshalls, HomeGoods, Sierra, Boot Barn, Five Below and Michaels. Seven additional retailers are finalizing leases, according to the company. The center is currently 90 percent preleased. Lobo Crossing is set to be the largest retail center developed in New Mexico in recent decades, according to SimonCRE.
MANTECA AND STOCKTON, CALIF. — MBK Senior Living has sold two seniors housing communities in California totaling 198 units. Clarion Partners acquired the communities for an undisclosed price. Located in Manteca and Stockton, the portfolio includes The Commons at Union Ranch and The Commons on Thornton. Built in 2004, The Commons on Thornton features 100 assisted living and memory care units. The property was 94 percent occupied at the time of sale. The Commons at Union Ranch was built in 2008 and comprises 98 assisted living and memory care units. The community was 97 percent occupied at the time of sale. Aaron Rosenzweig and Dan Baker of JLL represented the seller in the transaction.
GOLDEN, COLO. — Colorado School of Mines has purchased a R&D and laboratory facility located at 16194 W. 45th Drive in Golden. J&N Real Estate Co. sold the asset for $5.8 million. Colorado School of Mines acquired the 50,646-square-foot property as part of its continued expansion to support research, innovation and academic growth in Jefferson County, Colo. Tanner Digby of Digby Commercial Advisors represented the seller, while Kurt Liss of JLL represented the buyer in the deal.