Acquisitions

JLL Negotiates $53.8M Sale of Distribution Center in Jacksonville

by John Nelson April 21, 2025

JACKSONVILLE, FLA. — JLL Capital Markets has negotiated the $53.8 million sale of Imeson Commerce Center, a newly constructed, 422,136-square-foot distribution center in Jacksonville. Situated within Imeson Industrial Park near Jacksonville International Airport, the rear-load building features 36-foot clear heights, 81 dock-high doors, 260 car parking spaces and 180 trailer parking spaces. The facility is fully leased to RoadOne IntermodaLogistics, North America’s largest intermodal trucking provider, with 103,000 square feet of the property providing air-conditioned warehouse space. Luis Castillo, Cody Brais, Taylor Osborne and David Orta Jr. of JLL’s Investment Sales and Advisory team represented the sellers, North Signal Capital and Fox Capital Partners, in the transaction. CIP Real Estate was the buyer.

April 21, 2025

Acquisitions Florida Retail Southeast

Avison Young Arranges $16M Sale of North Miami Shopping Center

by John Nelson April 21, 2025

NORTH MIAMI FLA. — Avison Young has arranged the $16 million sale of Sans Souci Plaza, a 47,350-square-foot retail property located at 2104 and 2222 NE 123rd St. in North Miami. This acquisition marks the first time the center has been sold. The property — which is anchored by Zaika Indian Cuisine and Catch Specialty Fish Market — comprises two buildings constructed in 1974 and 1976. Michael Fay, John Crotty, David Duckworth, Brian de la Fé and Philip Shapiro of Avison Young represented the seller, Matthews Real Estate Partners, in the transaction. Mario Borda of BCRE (Borda Commercial Real Estate) represented the Aventura, Fla.-based buyer.

April 21, 2025

Acquisitions California Multifamily Western

Presidio Bay Ventures, Artemis Real Estate Buy 121-Unit Olume Multifamily Building in San Francisco

by Amy Works April 21, 2025

SAN FRANCISCO — Presidio Bay Ventures, in partnership with Artemis Real Estate Partners, has acquired Olume, an apartment building located at 1401 Mission St. in San Francisco’s SoMa neighborhood, for $39.7 million. Matt Kroger, Ryan Wagner, Brandon Geraldo and Fatai Alashe of JLL brokered the transaction. The name of the seller was not released. Olume offers 121 studio, one- and two-bedroom apartments and was 95 percent occupied at the time of sale. Community amenities include a 360-degree view rooftop deck, residential lounge, coffee bar, pet park and electric vehicle charging stations. The Main Post will manage the property.

April 21, 2025

Acquisitions California Industrial Western

Sword Industrial Partners Purchases 121,816 SF Expo Centre Industrial Park in Sacramento

by Amy Works April 21, 2025

SACRAMENTO, CALIF. — Dallas-based Sword Industrial Partners has purchased Expo Centre, a seven-building industrial park in Sacramento, from BKM Capital Partners for an undisclosed price. Matt Susac and Todd Sanfillipo of CBRE have been retained as leasing agents for the park. Rebecca Perlmutter of CBRE represented the seller in the deal. Totaling 121,816 square feet, the industrial park offers small-bay suites ranging in size from 1,500 square feet to 6,600 square feet. The asset is located at 1767-1791 Tribute Road. Recent capital improvements at the asset include new roofs, paint, suite reconfigurations, signage and drought-tolerant landscaping. Sword Industrial Partners is actively pursuing multi-tenant, infill industrial assets in the Western United States. The newly formed MAG Capital Partners investment platform is helmed by Scott Word, managing partnering of Sword Industrial Partners.

April 21, 2025

Acquisitions California Office Western

NAI Capital Negotiates $7.4M Sale of Office Building in Arcadia, California

by Amy Works April 21, 2025

ARCADIA, CALIF. — NAI Capital Commercial has arranged the sale of a multi-tenant office building located at 225 E. Santa Clara St. in Arcadia. Los Angeles District Church of the Nazarene sold the property to an undisclosed buyer for $7.4 million, or $341 per square foot. At the time of sale, the 21,673-square-foot building was fully occupied and offers abundant parking. The buyer plans to eventually occupy a portion of the property. Marie Taylor of NAI Capital Commercial represented the seller in the deal.

April 21, 2025

Acquisitions Colorado Office Western

Newmark Arranges $3.4M Sale of Office Building in Denver

by Amy Works April 21, 2025

DENVER — Newmark has negotiated the purchase of a 7,804-square-foot office property located at 1660 17th St. in Denver. 11th Avenue Residential LLC acquired the asset from Struby Warehouse First Floor LLC for $3.4 million. Reed Mclaughlin, Thomas Lee and Jonathan Tilton of Newmark represented the buyer, while Kentwood Commercial represented the seller in the transaction.

April 21, 2025

Acquisitions Hospitality Washington Western

Marcus & Millichap Brokers Sale of 20-Room Great House Motel in Sequim, Washington

by Amy Works April 21, 2025

SEQUIM, WASH. — Marcus & Millichap has arranged the sale of Great House Motel in Sequim. A private investor sold the property to a private investor for $1.2 million. Allan Miller, Chris Gomes, Huberth Marak and Skyler Cooper of Marcus & Millichap represented the seller, while Donaven Santana and Whitney Rhoades of Marcus & Millichap secured and represented the buyer in the deal. Originally built in 1965, Great House Motel offers 20 guest rooms, several with kitchenettes, and all equipped with TVs, microwaves and mini refrigerators. The property is located at 740 E. Washington St.

April 21, 2025

Acquisitions Illinois Midwest Retail

Performance Brokerage Services Negotiates Sale of Hyundai Dealership in Bourbonnais, Illinois

by Kristin Harlow April 21, 2025

BOURBONNAIS, ILL. — Performance Brokerage Services has negotiated the sale of the Phillips Hyundai of Bradley dealership in Bourbonnais, about 55 miles south of Chicago. Phillip Pascarella founded Phillips Auto Group in 1968. The company continues to own and operate Phillips Chevrolet locations in Bourbonnais, Frankfort and Lansing, Ill., and Phillips RV in Bourbonnais. Phillips Hyundai of Bradley opened in 2017. Paul Kechnie, Emily Bourne and Matt Willis of Performance Brokerage Services represented the seller. Patriot Motors was the buyer. Phillips Hyundai of Bradley will be renamed Patriot Hyundai of Bradley and will be relocated to William R Lathan Senior Drive.

April 21, 2025

Acquisitions Illinois Midwest Restaurant Retail

Boulder Group Brokers $2.8M Sale of Chipotle-Occupied Restaurant Property in Metro Chicago

by Kristin Harlow April 21, 2025

LAKE ZURICH, ILL. — The Boulder Group has brokered the $2.8 million sale of a restaurant property net leased to Chipotle in the Chicago suburb of Lake Zurich. The newly constructed building at 442 S. Rand Road features a drive-thru. Chipotle operates under a 15-year lease term with 10 percent rental escalations every five years and four five-year renewal options. Randy Blankstein and Jimmy Goodman of Boulder represented the seller, a Chicago-area full-service commercial real estate company. A local individual was the buyer. There are 3,752 Chipotle locations worldwide as of 2025.

April 21, 2025

Acquisitions Northeast

Rugby Realty Buys 1 MSF Office Tower in Downtown Pittsburgh

by Taylor Williams April 21, 2025

PITTSBURGH — A group of investors led by local investment firm Rugby Realty has purchased One Oxford Centre, a 45-story office tower located at 301 Grant St. in downtown Pittsburgh. The 1 million-square-foot building occupies two city blocks and was 65 percent leased at the time of sale to tenants such as PwC and law firms Clark Hill and Pietragallo Gordon Alfano Bosick & Raspanti. Amenities include a full-service health/business club and a multi-level, 850-space parking garage. John Pelusi, Claudia Steeb, Nick Unkovic and Zach Barone of JLL arranged a three-year bridge loan of an undisclosed amount for the acquisition of the property through Dollar Bank.

April 21, 2025

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