VON ORMY, TEXAS — Austin-based Evergen Equity has purchased a 26-acre industrial outdoor storage (IOS) facility in Von Ormy, a southwestern suburb of San Antonio. The facility, which according to LoopNet Inc. was built in 2018, is located within Speedway Park and includes a 7,500-square-foot truck terminal with office space, service bays and a storage yard. The seller and sales price were not disclosed. Partners Real Estate is the property’s leasing agent.
ROSWELL, GA. — Sterling Organization has sold Roswell Village Shopping Center, a retail center located in Roswell, roughly 25 miles north of Atlanta. Denver-based Revesco Properties purchased the center for an undisclosed price. Tenants at the property, which was 94 percent leased at the time of sale, include Ross Dress for Less, Marshalls and Crunch Fitness. Sterling originally acquired the center in 2014 for $10.6 million when the center’s occupancy rate was 31 percent. Jim Hamilton of JLL brokered the sale on behalf of West Palm Beach, Fla.-based Sterling.
JACKSONVILLE, FLA. — Berkadia has negotiated the sale of Cielo at Normandy, a 123-unit apartment community located at 1570 Lane Ave. S in Jacksonville. Greg Rainey led the Berkadia team in representing the seller, Atlanta-based Zavala Capital Group, in the transaction. Black Ridge purchased the property for an undisclosed price. Built in 1974, Cielo at Normandy features a mix of one-, two- and three-bedroom layouts with an average size of 933 square feet. Community amenities include a swimming pool, clubhouse, laundry facility and a playground.
WAYNE, N.J. — Marcus & Millichap has brokered the $6.6 million sale of a retail property in the Northern New Jersey community of Wayne. Built on 5.9 acres in 2023 and occupied by Wawa via a 20-year corporate ground lease, the property comprises a 4,736-square-foot convenience store and an eight-pump fueling station. Dean Zang and David Crott of Marcus & Millichap represented the undisclosed the seller in the transaction and procured a Maryland-based private investor as the buyer. John Horowitz of Marcus & Millichap assisted in closing the deal as the broker of record.
MORRISTOWN, N.J. — JLL has arranged the sale of Shops at 40 Park, a 49,974-square-foot retail center in the Northern New Jersey community of Morristown. Built in 2010, the center was fully leased at the time of sale to tenants such as Starbucks Coffee, Roots Steakhouse, Agricola, Qdoba and AT&T. Jose Cruz, Kevin O’Hearn and J.B. Bruno of JLL represented the seller, a joint venture between Veris Residential, Woodmont Properties and an undisclosed global investment advisor, in the transaction. JLL also procured the buyer, Winfield Properties.
ONTARIO, FONTANA AND SAN BERNARDINO, CALIF. — Cabot Properties has purchased a four-property, 669,057-square-foot industrial portfolio in Inland Empire from a private institutional seller for $202.1 million. The portfolio includes a 263,670-square-foot building at 1670 Champagne Ave. and a 147,484-square-foot facility at 1651 S. Carlos Ave. in Ontario; a 103,343-square-foot building at 10917 Cherry Ave. in Fontana; and a 154,560-square-foot building at 750 S. Valley View Ave. in San Bernardino. Institutionally managed, each building is fully occupied on a triple-net lease with a remaining weighted average lease term (WALT) of 3.6 years with mostly investment-grade tenants. Michael Kendall, Gian Bruno, Kenny Patricia, Kylie Jones, Thomas Taylor, Steve Bellitti and Joey Jones of Colliers represented the buyer and seller in the transaction.
ST. CLOUD, MINN. — Colliers has brokered the $10.7 million sale of Quarry Commons Apartments, a 102-unit property in the Minneapolis suburb of St. Cloud. The two-building, garden-style property is located at 1965 Quarry Road and was built in 1996 and 2003. Dan Linnell, Adam Haydon, Mox Gunderson and Devon Dvorak of Colliers represented the seller, Timberland Partners. Washington-based Weidner Investment Services Inc. was the buyer.
AUSTIN, MINN. — Marcus & Millichap has arranged the $4.2 million sale of Mandolin Place, a 72-unit multifamily property in Austin, a city in southern Minnesota. Located at 203 31st St. SW, the property features a mix of one-, two- and three-bedroom units across 64,481 square feet. Built in 1994, the asset is located on 3.5 acres just off I-90. Chris Collins, Evan Miller, Eric Wagner, Zack Olson and Matt Shide of Marcus & Millichap represented the buyer and seller, both of which were Minnesota-based limited liability companies. The buyer plans to make some in-unit and property upgrades.
VERNON HILLS, ILL. — Vic Gulati, a Kiddie Academy franchisee, has purchased a 3.3-acre parcel at 300 N. Fairway Drive in the Chicago suburb of Vernon Hills for an undisclosed price. The property marks Gulati’s third Kiddie Academy location, following those in Arlington Heights and Mount Prospect. Kendall Graff and Grant Gary of Woodmont Co. represented Gulati in the transaction, while Brett Kroner of Cushman & Wakefield represented the seller, JRW 2002 LLC.
PHOENIX — Dalfen Industrial has purchased a freestanding building at 3405 S. 5th St. in Phoenix’s Sky Harbor International Airport submarket for an undisclosed price. The 109,699-square-foot building is fully leased to a single tenant that has been on the property for two decades. The facility features 25-foot clear heights, 11 dock doors and 10 grade-level doors. The building has undergone renovations since being built in 1981. Will Strong, Michael Matchett and Molly Hunt of Cushman & Wakefield’s National Industrial Advisory Group – Mountain West represented the undisclosed seller in the deal. Andy Markham, Mike Haenel, Phil Haenel and Foster Bundy of Cushman & Wakefield represented the landlord in negotiating a lease extension with the tenant.