Acquisitions

Three-Industrial-Bldgs-West-Valley-City-UT

Hyde Development, Mortenson Properties Buy Nine-Building Industrial Portfolio in Salt Lake City

by Amy Works November 12, 2024

SALT LAKE CITY and WEST VALLEY CITY, UTAH — A partnership between Hyde Development and Mortenson Properties has acquired the Salt Lake City Industrial Portfolio, a nine-building infill portfolio located just south of the Salt Lake City International Airport near the convergence of interstates 15 and 80. Terms of the transaction were not released. The portfolio is comprised of five single-tenant and four multi-tenant buildings totaling 787,000 square feet. At the time of sale, the asset was 96 percent leased to 13 blue-chip tenants. The portfolio includes 3595 W. Technology Drive and two buildings at 2323 S. 3600 West in West Valley City, and 2555-2595 W. Custer Road, 2525 W. 1700 South, 2534 W. Bridger Road, 2415-2435 E. Custer Road, 1765 Fremont Drive and 1855 Fremont Drive in Salt Lake City. Jeremy Ballenger, Tyler Carner, Rebecca Perlmutter and Brett Hartzell of CBRE National Partners represented the undisclosed seller in the deal.

November 12, 2024

Acquisitions Industrial Midwest Minnesota Self-Storage

U-Haul Acquires Five Self-Storage Properties Totaling 790 Units in Northern Minnesota

by Kristin Harlow November 12, 2024

BRAINERD, MINN. — U-Haul has acquired five former KO Storage facilities across Cass and Crow Wing counties in northern Minnesota. The properties are all located within the Brainerd metropolitan area and feature 790 drive-up units. Specifically, the facilities are located in Brainerd, Baxter, Nisswa and Pillager. The seller and sales price were not provided.

November 12, 2024

Acquisitions Industrial Midwest Missouri

Marcus & Millichap Brokers $2M Sale of Industrial Property in Raytown, Missouri

by Kristin Harlow November 12, 2024

RAYTOWN, MO. — Marcus & Millichap has brokered the $2 million sale of a 34,560-square-foot industrial property in Raytown, a southern suburb of Kansas City. Built in 1985, the facility is situated on 2.5 acres near I-435. Peter Doughty of Marcus & Millichap procured the 1031 exchange buyer. The seller was undisclosed. Dave Saverin, broker of record in Missouri, assisted in closing the transaction.

November 12, 2024

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Brokers Sale of 769-Unit Self-Storage Facility in Allen, Texas

by Taylor Williams November 11, 2024

ALLEN, TEXAS — Marcus & Millichap has brokered the sale of a 769-unit self-storage facility located at the intersection of Bethany Drive and South Greenville Avenue in Allen, a northeastern suburb of Dallas. Extra Space Storage operates the three-story facility, which was built in 2019 and totals 80,421 net rentable square feet of climate-controlled space. Jon Danklefs of Marcus & Millichap represented the undisclosed buyer in the transaction. The seller and sales price were also not disclosed.

November 11, 2024

Acquisitions Multifamily Texas

Archway Equities Buys 264-Unit Apartment Complex in Northeast Dallas

by Taylor Williams November 11, 2024

DALLAS — California-based investment firm Archway Equities has purchased Coronado Apartment Homes, a 264-unit multifamily complex located in the Lakewood area of northeast Dallas. Built on 6.8 acres in 1984, the property comprises 11 three-story buildings that house one- and two-bedroom units. Amenities include a pool, fitness center and a clubhouse. Rob Key, David Austin and William Jennings of JLL represented the undisclosed seller in the transaction. Archway plans to implement a value-add program.

November 11, 2024

Crownwood-Industrial-Estates-Bristol-Pennsylvania

Acquisitions Industrial Northeast Pennsylvania

Benchmark, Regal Ventures Acquire 218,410 SF Industrial Property in Bristol, Pennsylvania

by Taylor Williams November 11, 2024

BRISTOL, PA. — A partnership between Pennsylvania-based developer Benchmark Real Estate and New York-based investment firm Regal Ventures has acquired a 218,410-square-foot industrial property in Bristol, located northeast of Philadelphia. Crownwood Industrial Estates comprises three buildings that range in size from 13,042 to 112,348 square feet on a 25-acre site along the I-95 corridor that can support future expansion. At closing, the partnership sold the 112,348-square-foot building to Penn Steel Fabrication, which occupied about half of that building’s space and was facing lease expiration in 2025. Michael Borski and Pat Gilmore of The Flynn Co., a Philadelphia-based brokerage firm, arranged the sale. The seller and sales price were not disclosed.

November 11, 2024

Acquisitions Massachusetts Northeast Retail

Atlantic Capital Partners Arranges Sale of 79,299 SF Grocery Store in Metro Boston

by Taylor Williams November 11, 2024

MALDEN, MASS. — Locally based brokerage firm Atlantic Capital Partners has arranged the sale of a 79,299-square-foot Stop & Shop grocery store in the northern Boston suburb of Malden. The sales price was $26.2 million. The store is located within immediate proximity of the Malden Center MBTA station. Justin Smith, Chris Peterson, Sam Koonce and Danielle Donovan of Atlantic Capital Partners represented the seller in the transaction and procured the buyer. Both parties requested anonymity.

November 11, 2024

Acquisitions Florida Multifamily Southeast

JLL Brokers Sale of 294-Unit Mark at Wildwood Apartments in Oxford, Florida

by John Nelson November 11, 2024

OXFORD, FLA. — JLL has brokered the sale of The Mark at Wildwood, a newly built, 294-unit apartment community located at 3795 Bismark Court in Oxford. The property sits at the northwest corner of The Villages master-planned community in Central Florida’s Sumter County. Cliff Taylor, Joe Ayers, Ryan Hixon, Tucker Brooks and Mike Scott of JLL represented the sellers, Varden Capital Properties and Tellus Partners, in the transaction. TriBridge Residential purchased the property for an undisclosed price. Completed in 2023, The Mark at Wildwood features a mix of one-, two- and three-bedroom flat and carriage home-style units. Amenities include a resort-style pool and a clubhouse.

November 11, 2024

Acquisitions Retail Southeast Tennessee

TSCG Negotiates Sale of 65,900 SF Shopping Center Near Memphis

by John Nelson November 11, 2024

COLLIERVILLE, TENN. — The Shopping Center Group (TSCG) has negotiated the sale of Houston Levee Galleria, a 65,900-square-foot retail center in Collierville, an eastern suburb of Memphis. Built in 2006, the property was 94 percent leased at the time of sale to tenants including Jim’s Place, Gould’s Day Spa and Salon, Smoothie King, The Transformation Doctor, Newk’s Express Café, Club Pilates, Moe’s Southwestern Grill, Loni’s Fashions and The Sewing House. Anthony Blanco and Lynn De Marco of TSCG represented the seller, a limited liability company, in the transaction. The buyer and sales price were also not disclosed.

November 11, 2024

Acquisitions California Development Industrial Self-Storage Western

Buchanan Street Partners Buys Metro Los Angeles Development Site, Plans 1,180-Unit Self-Storage Project

by Amy Works November 11, 2024

UPLAND, CALIF. — Buchanan Street Partners has acquired a 2.1-acre site located at 1382 E. Foothill Blvd. in Upland for $6.2 million from a private owner/developer in an off-market transaction. Buchanan Street Partners plans to redevelop the site, which is located approximately 37 miles east of Los Angeles and is currently occupied by a vacant medical office building, into a Class A self-storage facility. The new four-story, 123,000-square-foot property will offer 1,180 self-storage units. Construction will begin immediately, with completion slated for January 2026. DAI General Contracting is the general contractor, and Wintrust Bank is providing construction financing for the project.

November 11, 2024

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