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Acquisitions

Lux-on-Main-Carrollton
AcquisitionsMultifamilyTexas

Cushman & Wakefield Brokers Sale of 352-Unit Lux on Main Apartments in Carrollton, Texas

by Taylor Williams

CARROLLTON, TEXAS — Cushman & Wakefield has brokered the sale of Lux on Main, a 352-unit apartment community located in the northern Dallas metro of Carrollton. Built in 2019, the property offers studio, one- and two-bedroom units. Amenities include a pool, wellness center, resident lounge and a business center, as well as 4,095 square feet of fully leased retail space. Asher Hall and Grant Raymond of Cushman & Wakefield represented the seller, Nimes Real Estate, in the transaction. RPM Living purchased the asset for an undisclosed price.

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AcquisitionsIndustrialTexas

Timber Hill Buys Four Industrial Outdoor Storage Sites Totaling 23.1 Acres in Laredo, Texas

by Taylor Williams

LAREDO, TEXAS — Chicago-based private equity real estate firm Timber Hill Group has purchased four industrial outdoor storage (IOS) sites totaling 23.1 acres in the Rio Grande Valley city of Laredo. The sites at 701 Enterprise St. and 4006 Quivira Drive will have new facilities developed from the ground up that are expected to be complete by mid-2025. Timber Hill will renovate the existing facilities at the sites at 18729 and 18701 Metropolitan Road. The seller was not disclosed.

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AcquisitionsMidwestMinnesotaMultifamily

Colliers Negotiates Sale of 424-Unit Multifamily Portfolio in Downtown Minneapolis for $32.5M

by Kristin Harlow

MINNEAPOLIS — Colliers has negotiated the sale of a two-property multifamily portfolio totaling 424 units in the Loring Park neighborhood of downtown Minneapolis for $32.5 million. The properties are located at 215 and 330 Oak Grove St. They feature newly renovated one- and two-bedroom units. Amenities include a patio, garden, resident lounge, fitness center, laundry room, package room and garage parking. Both assets are more than 80 percent leased. Mox Gunderson, Dan Linnell, Adam Haydon and Devon Dvorak of Colliers represented the seller, Laramar Group. Grove Estates was the buyer.

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AcquisitionsMichiganMidwestRetail

Mid-America Brokers Sale of 276,244 SF Waterside Marketplace Shopping Center in Suburban Detroit

by Kristin Harlow

CHESTERFIELD TOWNSHIP, MICH. — Mid-America Real Estate Corp. has brokered the sale of Waterside Marketplace, a 276,244-square-foot shopping center in the northeast Detroit suburb of Chesterfield Township. The sales price was undisclosed. The property, located at the interchange of I-94 and 23 Mile Road, is 93 percent leased to tenants such as TJ Maxx, Sierra, Burlington, Best Buy, Ulta, DSW and Old Navy. Ben Wineman, Emily Gadomski and Daniel Stern of Mid-America represented the seller, New Orleans-based PMAT Real Estate Investments. Alpharetta, Ga.-based Octave Holdings and Investments was the buyer.

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AcquisitionsIllinoisIndustrialMidwestSelf-Storage

Marcus & Millichap Arranges Sale of 890-Unit Self-Storage Portfolio in Carbondale, Illinois

by Kristin Harlow

CARBONDALE, ILL. — Marcus & Millichap has arranged the sale of a four-property self-storage portfolio totaling 890 units in Carbondale, a city in southern Illinois. The sales price was undisclosed. There are 834 non-climate-controlled units and 56 climate-controlled units totaling 98,363 rentable square feet. The properties are located at 710 E. Main St., 1535 N. Reed Station Road, 707 E. College St. and 1295 Harmony Lane. Marla Čolić of Marcus & Millichap represented the undisclosed seller. A regional storage investment group purchased the portfolio. Steven Weinstock, broker of record in Illinois, assisted in closing the transaction.

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Arioso-Cupertino-CA
AcquisitionsCaliforniaMultifamilyWestern

Pacific Urban Investors Purchases 201-Unit Arioso Multifamily Community in Silicon Valley

by Amy Works

CUPERTINO, CALIF. — Palo Alto, Calif.-based Pacific Urban Investors has purchased Arioso, an apartment property in the Silicon Valley city of Cupertino. Los Angeles-based CIM Group sold the community for an undisclosed price. Built in 1998, the three-story podium-style community offers 201 one- and two-bedroom floor plans, averaging 1,015 square feet. Community amenities include a leasing office, fitness center, business center, swimming pool and a spa. Arioso’s monthly rental rates range from $3,351 to $10,185, according to Apartments.com.

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Northwest-Coporate-Park-Building-11-Portland-OR
AcquisitionsIndustrialOregonWashingtonWestern

EQT Exeter Buys Three-Building Pacific Northwest Industrial Portfolio for $49.9M

by Amy Works

KENT, WASH. AND PORTLAND, ORE. — EQT Exeter has acquired a three-building, 312,604-square-foot industrial portfolio in Kent and Portland from an institutional investor for $49.9 million. The portfolio consists of Kent 36 & 39, a 63,500-square-foot distribution building and a 42,022-square-foot small-bay industrial building in Kent, as well as Northwest Corporate Park Building 11, a 207,082-square-foot distribution building in Portland. Brett Hartzell, Paige Morgan, Andrew Stark, Stuart Skaug and Cara Nolan of CBRE represented the undisclosed seller in the transaction.

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4888-N-Stone-Ave-Tucson-AZ.jpg
AcquisitionsArizonaHealthcareOfficeWestern

Meridian Acquires Vacant 94,569 SF Medical Office Building in Tucson for $8M

by Amy Works

TUCSON, ARIZ. — Meridian, a full-service real estate developer and owner of medical real estate, has purchased a medical office building located at 4888 N. Stone Ave. in Tucson. An affiliate of Tenet Health sold the asset for $8 million. Situated on 9.2 acres, the 94,569-square-foot property was vacant at the time of sale. Meridian plans to renovate and upgrade the facility, which has sat vacant for 15 years. The company will convert the former inpatient cardiovascular hospital into a health center for El Rio Health, a Federally Qualified Health Center, which will occupy the building. Construction is slated to start by the end of the month, with completion scheduled for early 2026. Rick Kleiner of Cushman & Wakefield | PICOR represented the buyer and tenant, while Vince Femiano and Kate Morris of Transwestern represented the seller in the deal.

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AcquisitionsMultifamilyNew JerseyNortheast

Redwood Realty Negotiates $6.6M Sale of Jersey City Apartment Building

by Taylor Williams

JERSEY CITY, N.J. — Locally based brokerage firm Redwood Realty Advisors has negotiated the $6.6 million sale of Common on Pine, a 16-unit apartment building in Jersey City. Common on Pine was completed earlier this year and offer amenities such as a fitness center and a rooftop lounge, as well as one ground-floor commercial space. Steve Matovski of Redwood represented the seller, an entity doing business as 327 Communipaw LLC, in the transaction and procured the undisclosed buyer.

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AcquisitionsMassachusettsMultifamilyNortheast

Marcus & Millichap Brokers $4M Sale of Boston Multifamily Portfolio

by Taylor Williams

BOSTON — Marcus & Millichap has brokered the $4 million sale of a 12-unit multifamily portfolio in the Dorchester area of Boston. The Fuller Street Portfolio comprises two six-unit buildings at 46-48 and 301-305 Fuller St. and a vacant buildable lot. Evan Griffith and Tony Pepdjonovic of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors that requested anonymity, in the transaction.

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