SAVANNAH, GA. — The Home Depot has acquired its own 1.4 million-square-foot The Home Depot Distribution Center (DC) from the Savannah Economic Development Authority (SEDA). The facility is situated near the Port of Savannah. The sales price was not disclosed. SEDA has leased the center to The Home Depot since 1995. The acquisition includes 100 acres of adjacent land. The Home Depot DC supports hundreds of The Home Depot stores and typically employs around 250 associates. “This sale signals a significant, long-term commitment by The Home Depot to our region and the Georgia Ports Authority,” says Trip Tollison, president and CEO of SEDA. “We are honored that they continue to have great confidence in the Savannah region.”
WELLINGTON, FLA. — JLL Capital Markets has arranged the sale of Wellington Bay, a 283-unit senior living campus located in Wellington, approximately 16 miles west of West Palm Beach. The 45-acre property features a 159-unit independent living community and The Lisbet Health Center, which comprises 124 assisted living and memory care residences. Amenities at the campus include a 65,000-square-foot clubhouse with dining, outdoor and indoor swimming pools, a hot tub, putting green, bocce ball court, pickleball court and fitness, wellness, concierge, arts and entertainment programming. AEW Capital Management acquired the property from an undisclosed buyer. JLL’s Seniors Housing Capital Markets team represented the seller in the transaction and secured a three-year acquisition loan through Capital One Bank on behalf of the buyer.
TITUSVILLE, FLA. — Cushman & Wakefield has arranged the $42.2 million sale of Titusville Logistics Center, a Class A warehouse in Titusville. Located at 7700 US Highway 1 roughly 35 miles east of Orlando, the facility totals 247,069 square feet and was fully leased at the time of sale. The facility features a tilt-wall construction design with dock-high and drive-in loading doors, 30-foot clear heights, a 130-foot truck court and the potential for rail-side access. Houston-based Hines acquired the property via its core-plus fund, Hines U.S. Property Partners, from Reich Brothers. Mike Davis, Rick Colon, Rick Brugge and Dominic Montazemi of Cushman & Wakefield represented the seller in the transaction. Hines has retained Mike Moss and Michael Moss II of Lightle Beckner Robison Inc., who also assisted in brokering the sale, to continue leasing the property.
RICHLAND, WASH. — Northmarq has arranged the sale of Richland Court, a multifamily property located at 2433 George Washington Way in Richland. KEI Apartment Fund 9 LLC sold the asset to BLV-Richland Court LLC for $19.9 million. Built in 1994, Richland Court offers 88 one-, two- and three-bedroom apartments and 142 parking spaces, including 10 garage, 24 carport and 108 surface spots. Apartment amenities include full-sized washers and dryers, air conditioning, balconies, fireplaces, microwaves, ovens, vaulted ceilings and ADA-accessible rooms. Community amenities include onsite maintenance and management, a community clubhouse, seasonal pool, fitness center, package receiving, a recreation center, spa and tanning bed. Tyler Smith, Joe Kinkopf and Steve Fischer of Northmarq’s Seattle Multifamily Investment Sales team represented the seller in the deal.
BUENA PARK, CALIF. — CBRE has negotiated the sale of an industrial building located at 8401 Page St. in Buena Park. Products Go LLC acquired the asset for $18.1 million. Situated on 2.7 acres, the 55,362-square-foot building offers abundant parking and quick access to Interstate 5 and State Route 91. Keith Greer, Ben Seybold and Sean Ward of CBRE represented the seller, a private investor, in the deal.
ESCONDIDO, CALIF. — Storm Properties has purchased a self-storage and retail asset in Escondido for $10.5 million. Located at 510 and 520 W. Valley Parkway, the property features 37,125 square feet of storage buildings, a 7,000-square-foot retail strip building and a 5,900-square-foot pad for future retail development. The self-storage facility offers 262 storage units, while the retail space consists of four in-line suites and a single-tenant retail building. One of the retail suites serves as the onsite management for the self-storage facility. The retail is 100 percent occupied, while 97 percent of the self-storage units are currently rented. Storm Properties, a subsidiary of Torrance, Calif.-based Storm Industries, currently manages a diverse portfolio of multifamily, industrial and retail properties.
PLAINFIELD, IND. — Lauth Communities has acquired Apex at Perry Crossing Apartments in the Indianapolis suburb of Plainfield for an undisclosed price. Built in 2023, the garden-style development features a resort-style pool, resident clubhouse, fitness center, coworking area, pickleball court, fenced pet park, game lounge and maker’s room. There are 15 residential buildings on the 26.2-acre property. Floor plans range from 721 to 1,381 square feet. There are also townhome-style floor plans with hallway garage access. Hannah Ott and Cam Benz of CBRE represented the undisclosed seller. Krieg DeVault assisted Lauth with its purchase.
DELAVAN, WIS. — Marcus & Millichap has brokered the $9.7 million sale of Delavan Crossings, a 41,898-square-foot retail strip center in Delavan, about 45 miles southwest of Milwaukee. The 25-suite property, built in 2003, is comprised of three buildings. Some of the tenants include Starbucks, Domino’s, Jersey Mike’s, AT&T, Verizon and Great Clips. Jeff Rowlett of Marcus & Millichap represented the seller, New York-based Ten Patels Realty. Adrian Mendoza, Sean Sharko and Austin Weisenbeck of Marcus & Millichap procured the buyer, a private investor. The trio also secured financing from a credit union lender.
CAROL STREAM, ILL. — Brown Commercial Group has negotiated the sale of a 50,632-square-foot industrial building in the Chicago suburb of Carol Stream for an undisclosed price. IP Automation Inc. purchased the facility at 400 E. Fullerton Ave. for its new headquarters. The company plans to relocate from its existing location in Downers Grove this year. Mike Antonelli of Brown represented the buyer as part of a two-year site selection and market analysis that included evaluating existing buildings as well as new construction opportunities throughout the Chicago market. Savills represented the undisclosed seller.
SOUTHFIELD, MICH. — Dominion Real Estate Advisors LLC has arranged the sale of an 11,010-square-foot warehouse in the Detroit suburb of Southfield that was previously owned by the Motown Museum. The asset was sold as part of the museum’s strategic growth plan to support its ongoing expansion efforts in Detroit. Hitzville USA recently completed its $75 million museum expansion in Midtown Detroit. Eric Banks and Alex Tokarz of Dominion represented the Motown Museum in the sale. Chris Secontine of Signature Associates represented the buyer, Lucent Surgical.