PHILADELPHIA — Philadelphia-based Alterra IOS has acquired seven industrial outdoor storage (IOS) sites totaling 23 usable acres largely in the Midwest region. The purchase price was undisclosed. The sites are fully leased to a national telecommunications and broadband network company. Each parcel is located across metro areas in Dallas, Minneapolis, Indianapolis, Chicago, Nashville, Cleveland and St. Louis. Specifically, the properties are located in Haslet, Texas; Osseo, Minn.; Indianapolis; Frankfort, Ill.; La Vergne, Tenn.; Avon, Ohio; and St. Peters, Mo. All of the assets in the portfolio are located near city downtowns, interstate highways, international airports and rail networks. CRE Advising facilitated the acquisition.
SOUTH ELGIN, ILL. — JLL Capital Markets has brokered the sale of South Elgin Commons, a 94,508-square-foot retail center in South Elgin. The sales price was undisclosed. Built in 2011 and partially renovated in 2021 and 2024, the property is fully leased. Anchor tenants include Advocate Health Care, T.J. Maxx and Ross Dress for Less. Michael Nieder and Keely Polczynski of JLL represented the seller, PMAT Real Estate Investments. The buyer was L2 Partners LLC.
ST. CLOUD, MINN. — Marcus & Millichap has negotiated the $9 million sale of Sterling Heights, a 96-unit multifamily property in the Minneapolis suburb of St. Cloud. Built in 2002, the community totals 91,621 rentable square feet and offers studio, one-, two- and three-bedroom floor plans. Chris Collins, Evan Miller and Eric Wagner of Marcus & Millichap represented the seller, a Minnesota-based limited liability company, and procured the buyer, a Wisconsin-based limited liability company.
ROCKWALL, TEXAS — Locally based developer SWBC Real Estate has sold The Royalton at Discovery, a 295-unit apartment community in Rockwall, approximately 25 miles northeast of Dallas. Completed in 2023, The Royalton at Discovery offers one-, two- and three-bedroom floor plans with an average size of 1,015 square feet. Select units feature direct access or detached garages. Amenities include a clubhouse, pool and cabanas, fitness center and an outdoor gaming center. Bonaventure acquired the property for an undisclosed price. Drew Kile, Joey Tumminello, Michael Ware and Taylor Hill of Institutional Property Advisors (IPA), a division of Marcus & Millichap, brokered the deal.
HOUSTON — JLL has brokered the sale of Mason Village Shopping Center, a 96,486-square-foot retail center in West Houston. Ethnic grocer La Michoacana anchors the center, and other tenants at the property include Harbor Freight, Freebirds, Jiffy Lube and Jason’s Deli. Ryan West, John Indelli and Clay Anderson of JLL represented the seller, North Carolina-based investment and management firm DNA Partners, in the transaction. Boston-based investment firm Longpoint Realty Partners acquired Mason Village for an undisclosed price.
EL PASO, TEXAS — Healing Realty Trust, a Florida-based REIT focused on healthcare assets, has purchased a 50,000-square-foot medical office building in El Paso for $7.1 million. The four-story building is situated on a 2.2-acre site at 1810 Murchison Drive within the Pill Hill Medical District. According to LoopNet Inc., the property was originally built in 1978 and subsequently renovated in 2020. Tenants include WellMed, Quest Diagnostics, Optum and Universal Health Services. The seller was not disclosed.
SAUGUS, MASS. — Chicago-based investment firm Waterton has purchased Residences at Stevens Pond, a 326-unit community in Saugus, approximately 10 miles north of Boston. Constructed in 2003, Residences at Stevens Pond consists of 25 three-story residential buildings and a clubhouse building. The community features one-, two- and three-bedroom units, including apartments, lofts and townhomes. Amenities include a pool and spa, outdoor pavilion with fireplace, fitness center, arcade, indoor half-basketball court and a golf simulator. Simon Butler, Biria St. John, John McLaughlin and Brian Bowler of CBRE represented the seller, Los Angeles-based investment firm JRK Property Holdings, in the transaction and procured Waterton as the buyer. The new ownership plans to renovate the unit interiors and common areas at the community. Planned updates include new quartz countertops, backsplashes and cabinets, as well as lighting and plumbing fixtures throughout.
NEW YORK CITY — Locally based brokerage firm GFI Realty Services has arranged the $5.6 million sale of a 49-unit apartment building at 100 Fort Washington Ave. in Manhattan’s Washington Heights neighborhood. Constructed in 1930, the six-story building houses a mix of one-, two-, three-, four- and five-bedroom units. Zachary Fuchs and Matthew Sparks of GFI Realty represented the seller in the transaction, while Sparks also procured the buyer. Both parties were private investors.
NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has negotiated the $3.2 million sale of an industrial property in Brooklyn. The site at 193-199 Varet St. comprises a two-story, 3,783-square-foot building and a 7,500-square-foot vacant lot. According to LoopNet Inc. the building was constructed in 1975 and features a clear height of 15 feet. Sean Kelly and Benjamin Vago of Ariel represented the seller, the Armel Family, in the transaction. The buyer was not disclosed.
HAPPY VALLEY, ORE. — Cobalt has completed the disposition of Sonder Fields, a multifamily property located at 14798 SE Parkland Drive in Happy Valley. An undisclosed buyer acquired the asset for $58.2 million. Built in 2023, Sonder Fields offers 180 one-, two- and three-bedroom apartments with stainless steel appliances, Shaker cabinets, luxury vinyl plank flooring, Calcutta quartz countertops, deep basin kitchen sinks, under cabinet lighting, large kitchen islands, nine-foot ceilings and LATCH keyless entry. Onsite amenities include a 24-hour fitness center, dog park, clubhouse lounge, saltwater pool, hot tub, barbecue picnic areas and private coworking spaces. Ira Virden, Carrie Kahn and Frank Solorzano of JLL Capital Market’s Investment and Sales Advisory team represented the seller in the transaction.