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Acquisitions

AcquisitionsOfficeSoutheastVirginia

Cushman & Wakefield | Thalhimer Brokers $8.2M Sale of Virginia Beach Office Building

by John Nelson

VIRGINIA BEACH, VA. — Cushman & Wakefield | Thalhimer has brokered the $8.2 million sale of a 61,528-square-foot office building located at 555 S. Independence Blvd. in Virginia Beach. Clark Simpson and Erik Conradi of Thalhimer’s Capital Markets Group, along with Christine Kaempfe of Thalhimer’s Office Services team, represented the seller, an entity doing business as 5555 S Independence LLC, in the transaction. The buyer was RetroAIM Properties LLC, an abatement, insulation and demolition services firm that will use the Virginia Beach property as its new corporate headquarters.

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Houston-Physicians-Hospital
AcquisitionsHealthcareTexas

IRA Capital Buys 148,950 SF Healthcare Property in Webster, Texas

by Taylor Williams

WEBSTER, TEXAS — California-based private equity firm IRA Capital has purchased Houston Physicians’ Hospital, a 148,950-square-foot healthcare property in Webster, a southeastern suburb of Houston. The facility, which recently underwent a 39,000-square-foot expansion, includes an advanced surgical hospital and two aquatic care centers. At the time of sale, the facility was 100 percent leased to a joint venture between the physicians, Memorial Hermann Health System and United Surgical Partners International.

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AcquisitionsHospitalityTexas

Marcus & Millichap Brokers Sale of 119-Room Hotel in Richardson, Texas

by Taylor Williams

RICHARDSON, TEXAS — Marcus & Millichap has brokered the sale of a 119-room hotel in the northeastern Dallas suburb of Richardson. The Cambria Hotel Richardson-Dallas was built on 2.5 acres in 2019 and offers amenities such as an indoor pool and a fitness center. Chris Gomes of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties requested anonymity.

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AcquisitionsIndustrialTexas

Partners Real Estate Arranges Sale of 25,386 SF Manufacturing Building in Tomball, Texas

by Taylor Williams

TOMBALL, TEXAS — Partners Real Estate has arranged the sale of a 25,386-square-foot manufacturing building in Tomball, a northwestern suburb of Houston. According to LoopNet Inc., the building at 1302 S. Cherry St. was built on 3.5 acres in 1980. Wyatt Huff and Hunter Stockard of Partners represented the seller, Harbor Hill Holdings, in the transaction. The buyer was an undisclosed, locally based private investor.

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AcquisitionsIndustrialMassachusettsNortheast

JLL Brokers $27.9M Sale of Industrial Property in Ashland, Massachusetts

by Taylor Williams

ASHLAND, MASS. — JLL has brokered the $27.9 million sale of a 218,316-square-foot industrial property in Ashland, a western suburb of Boston. The property consists of two buildings on an 18-acre site that were fully leased at the time of sale to fire suppression systems manufacturer Kidde-Fenwal. Michael Restivo, Bob McGuire, Sam Crossan, David Coffman and Tommy Hovey of JLL represented the private seller in the transaction. The buyer was locally based investment firm Rhino Capital Advisors.

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AcquisitionsIllinoisMidwestMultifamily

SVN Chicago Commercial Negotiates $5.7M Sale of Multifamily Portfolio in DeKalb, Illinois

by Kristin Harlow

DEKALB, ILL. — SVN Chicago Commercial has negotiated the $5.7 million sale of a 100-unit multifamily portfolio in DeKalb. The seven-building portfolio is located on Fotis Drive, Regent Drive, Spiros Court and Edgebrook Drive. DJ Szymanowski of SVN Chicago represented the buyer and seller. The transaction closed in less than seven weeks. The portfolio offers value-add opportunity, according to the brokerage firm.

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AcquisitionsIndustrialMidwestOhio

Marcus & Millichap Brokers $2.5M Sale of Columbus Industrial Property

by Kristin Harlow

COLUMBUS, OHIO — Marcus & Millichap has brokered the $2.5 million sale of a 25,360-square-foot industrial property in Columbus. Located at 2536 Creekway Drive, the asset is fully leased to Service Partners under a new triple-net lease with 2.5 percent annual increases through May 2029. The tenant, a subsidiary of TopBuild Corp., occupies both bays of the facility, which was built in 1988 on 1.5 acres. Service Partners relocated to the site in summer 2024 from Mansfield, Ohio. Nathan Pealer of Marcus & Millichap represented the seller, an entity doing business as RM-USE LLC. The property sold for 99 percent of the asking price.

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AcquisitionsMidwestRetailWisconsin

NAI Pfefferle Arranges Sale of 8,500 SF Retail Building in Brookfield, Wisconsin

by Kristin Harlow

BROOKFIELD, WIS. — NAI Pfefferle has arranged the sale of an 8,500-square-foot retail building in the Milwaukee suburb of Brookfield. The sales price was undisclosed, but the asking price was just under $3 million. Jan Kadow of NAI Pfefferle brokered the sale of the property, which is located at 200 N. Moorland Road.

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1374-Harbor-Blvd-Fullerton-CA
AcquisitionsCaliforniaRetailWestern

Space Investment Partners Buys Grocery-Anchored Shopping Center in Fullerton, California for $118.5M

by Amy Works

FULLERTON, CALIF. — Space Investment Partner has acquired Fullerton Metrocenter, a grocery-anchored retail center in Fullerton, from Kite Realty for $118.5 million. Located at 1375 Harbor Blvd., Fullerton Metrocenter offers 385,703 square feet of retail space occupied by more than 40 national and local retail tenants, including Sprouts Farmers Market, Target, Urban Air Adventure Park and PetSmart. The property was built in 1988 and renovated in 2002. At the time of sale, the property was 97 percent occupied.
Christopher Hoffmann, Mark Damiani and Chase Levra of Eastdil Secured represented the seller in the transaction. Eastdil also arranged acquisition financing on behalf of the buyer. Greg Stampley and Jessica Henning of Eastdil Secured led the debt process.

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AcquisitionsRetailSoutheastVirginia

Lucky Strike Entertainment Buys 58 Existing Bowling Alleys for $306M

by John Nelson

RICHMOND, VA. — Richmond-based Lucky Strike Entertainment, operator of bowling alleys and entertainment venues that formerly operated as Bowlero, has purchased 58 of its existing locations for $306 million. The deal aims to reduce annual rent obligations, while eliminating the risk of future lease inflation, say company representatives. Lucky Strike will continue to operate each of the locations after the deal closes. The transaction was financed through a $230 million bridge facility under Lucky Strike’s revolving credit line, as well as cash on hand. Spanning 16 states, the 58-property portfolio includes locations in California, Illinois, Georgia, Arizona and Colorado, as well as 11 other states.

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