CHARLOTTE, N.C. — CenterSquare has acquired Riverbend Village Shops, an 18,550-square-foot retail center located in Charlotte. Comprising four buildings, the development marks the final phase of Riverbend Village, a master-planned community totaling 62,000 square feet. Tenants at the property include First Watch, Jeremiah’s Italian Ice, GoHealth Urgent Care, Vitamin Shoppe, Nana Morrison’s Soul Food and Nothing Bundt Cake. The seller and sales price were not disclosed.
TEMPE, ARIZ. — Leon Industrial, a subsidiary of Dallas-based Leon Capital Group, has purchased the Tempe Freestanding Industrial Portfolio, an infill industrial portfolio situated on more than 9 acres in Tempe. Terms of the transaction were not released. Totaling 175,723 square feet, the portfolio includes a 116,516-square-foot building at 525 W. 21st St., a 33,400-square-foot building at 1917-196 W. 1st St. and a 25,807-square-foot building at 1401 S. Siesta Lane. At the time of sale, the buildings were each 100 percent leased to single tenants. Phil Haenel, Will Strong, Foster Bundy and Katie Repine of Cushman & Wakefield’s Private Capital Group represented the buyer and undisclosed seller in the transaction. Additionally, Mike Haenel and Andy Markham of Cushman & Wakefield provided leasing advisory services.
GARDEN GROVE, CALIF. — NAI Capital Commercial has arranged the acquisition of a retail building located at 10840 Katella Ave. in Garden Grove. An entity doing business as Katella Gateway Plaza LLC purchased the asset from Garden Grove Gateway LLC for $6.8 million. Dollar Tree occupies the 15,000-square-foot building, which was built in 2005, under a triple-net lease. Sheri Messerlian and Ilmar Kalviste of NAI Capital Commercial represented the buyer, while Shawn Bakke represented the seller in the deal.
LAS VEGAS — MCA Realty has acquired a single-tenant industrial building located at 2124 Industrial Road in Las Vegas for $4.2 million in an off-market transaction. The asset was purchased within the firm’s MCA Realty Industrial Growth Fund II, the first acquisition with the fund. Hajoca Corp., the parent company of Kelly’s Pipe & Supply Co., fully leases the 32,000-square-foot building that was built in 1962. Kevin Higgins and Garrett Toft of CBRE represented the undisclosed seller and buyer in the transaction.
ST. PETERSBURG, FLA. — Olympus Property has acquired 930 Central Flats, a 218-unit apartment community located in downtown St. Petersburg. The seller and sales price were not disclosed, but Tampa Bay Business Journal reports the property traded for $81 million. Developed in 2019, the six-story property is situated within the Central Avenue entertainment corridor and adjacent to the $6.5 billion Gas Plant District redevelopment. This transaction marks Olympus Property’s second acquisition in the Tampa Bay area, bringing the owner-operator’s Florida portfolio to 5,500 units. “The property’s unmatched location and upscale amenities align seamlessly with our long-term investment approach,” says Chase Bennett, chief acquisitions officer at Olympus Property.
BLUFFTON, S.C. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $18.8 million sale of Bluffton Target Center, a shopping center located in Bluffton, approximately seven miles west of Hilton Head Island. Built in 2001, the property totals 100,314 square feet and was fully leased at the time of sale to tenants including Dick’s Sporting Goods, Staples and Starbucks Coffee. Zach Taylor of IPA represented the seller, an entity doing business as Stafford Bluffton LLC, in the transaction and procured the buyer, Tarantino Properties Inc.
CONROE, TEXAS — A subsidiary of Arizona-based Christopher Todd Capital has acquired The Cottage Green, a 314-unit build-to-rent residential property in Conroe, about 40 miles north of Houston. The site spans 40 acres, and the development offers one-, two- and three-bedroom single-story homes and two-bedroom townhomes in a variety of styles, such as bungalows, cottages and lofts. Amenities include a lakeside beach club with grilling stations, a pool with tanning ledge, fitness center, clubhouse, conference room, electric car charging stations, dog park and an event lawn. The seller was an entity doing business as HMFA Houston Property Owner I LLC. Christopher Todd plans to rebrand the property as Cottage Living.
SHERMAN, TEXAS — Marcus & Millichap has brokered the sale of Sherman Centre, a 170,722-square-foot shopping center located near the Texas-Oklahoma border. The center was 60 percent leased at the time of sale to tenants such as Bomgaars, Nautilus Family Fitness and Texas Roadhouse. The property also includes an undeveloped, 1.9-acre pad site. Chris Gainey and Philip Levy of Marcus & Millichap represented the seller, a private owner-developer based in Texas, in the transaction. The duo also procured the buyer, an out-of-state private investor.
GRAND RAPIDS, MICH. — Microsoft Corp. has acquired 274 acres in Dorr, a southern suburb of Grand Rapids, for an undisclosed price. The property is located at 4400 144th Ave. and 14th Street. Matt Wickstra, Shawn O’Brien and Julie O’Brien of Colliers represented Microsoft in the transaction. Colliers also represented Microsoft in its purchase of 316 acres at 76th Street SE in Caledonia, bringing the company’s total holdings in the region to nearly 590 acres.
ARLINGTON, TEXAS — Alliance Consolidated Group of Cos. has purchased a 15,110-square-foot healthcare property in Arlington. The sales price was $6 million. According to LoopNet Inc., the single-tenant property at 950 N. Davis Drive was originally built in 1985. The seller, an orthopedic care provider doing business as MCS Dallas Medical PLLC, will lease back the space from the new ownership.