FRISCO, TEXAS — JLL has negotiated the sale of Preston Stonebrook, a 53,553-square-foot shopping center located north of Dallas in Frisco. Built in 1997, the center was 93 percent leased at the time of sale to tenants such as Plato’s Closet, Emler Swim School, Dogtopia and Horizon Hot Yoga. Adam Howells and Erin Lazarus of JLL represented the seller, Venture Investment Partners, in the transaction. The buyer and sales price were not disclosed.
JACKSONVILLE, FLA. — SRS Real Estate Partners has negotiated the $38 million sale of a 150,000-square-foot office building located at 5201 Gate Parkway in Jacksonville. Deutsche Bank fully occupies the property on a long-term, corporate-guaranteed lease. Built in 2006, the three-story building sits on 13 acres. Jeff Gates of SRS Capital Markets’ San Francisco office represented the seller, a New York-based institutional investor, in the transaction. The buyer was AJC Partners LLC, a private family office based in Michigan and New York City.
HOUSTON — Stream Realty Partners has brokered the sale of a 46,601-square-foot industrial building in North Houston. According to LoopNet Inc., the building at 6711 E. Highway 33 was built on 3.7 acres in 1976 and renovated in 2012. Tommy Erwin of Stream represented the buyer, Khowja Capital LLC, in the transaction. John Ferruzzo of KBC Advisors represented the seller.
Cushman & Wakefield | Thalhimer Arranges $8.9M Sale of The View at 777 Apartments in Salem, Virginia
SALEM, VA. — Cushman & Wakefield | Thalhimer’s Capital Markets Group has arranged the $8.9 million sale of The View at 777, a 72-unit multifamily community located in Salem. Situated at 777 Roanoke Blvd., the complex offers one-, two- and three-bedroom floorplans ranging in size from 579 square feet to 979 square feet. Resident amenities at the property include a playground, grill, picnic area and a dog park. Clay Taylor of Thalhimer, in conjunction with Jorge Rosa and Anthony Liberto of Cushman & Wakefield’s Mid-Atlantic Advisory team, represented the seller, an entity doing business as Caroline Forest LLC, in the transaction. The buyer was an entity doing business as 777 Salem LLC.
SEATTLE — A partnership between Kennedy Wilson, Kenedix Inc. and Hulic Co. has purchased The Danforth in Seattle for $173 million. Kennedy Wilson has a 10 percent interest, investing $6.6 million of equity in the core plus joint venture, and will serve as asset manager for the partnership and earn customary fees. Built in 2018, the 16-story tower features 265 one-, two- and three-bedroom layouts, a Studio Fit fitness center, rooftop solarium, dog run, a resident lounge with shuffleboard and media center, a full demonstration kitchen and barbecue patio with multiple grills. Additionally, Whole Foods Market occupies the ground-floor retail space.
TUCSON, ARIZ. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale and financing of The Place at Arroyo Verde, a multifamily property in Tucson’s Casas Adobes neighborhood. MC Cos. sold the asset to Olympus Property for $37.5 million, or $240,385 per unit. Completed in 2024, The Place at Arroyo Verde features 156 apartments in a combination of one-story casitas and two-story, walk-up floor plans. The open-concept apartment interiors offer stainless steel appliance packages, sizable interior storage space, single French doors and walk-in showers with custom tile surrounds. Community amenities include a leasing office, clubhouse, swimming pool, an oversized sundeck, a fitness center, grilling stations and covered parking. Steve Gebing, Hamid Panahi, Clint Wadlund and Cliff David of IPA represented the seller and procured the buyer. Brian Eisendrath and Cameron Chalfant of IPA Capital Markets arranged acquisition financing for the buyer.
CORONADO, CALIF. — Marcus & Millichap has arranged the sale of Del Island, an affordable housing community in Coronado. Motel Del Island sold the asset to 308 Orange LLC for $9.6 million. Aaron Bove and Jared Wallach of Marcus & Millichap represented the seller, while Scott Darnell of Darnell Capital Management procured the buyer in the transaction. Located at 308 Orange Ave., Del Island consists of four contiguous parcels across eight lots. The property is currently operated as 29 affordable housing units with a mix of studio, one- and two-bedroom layouts. The 28,198-square-foot site is situated within the R-4 zoning of Orange Avenue Corridor Specific Plan and offers 30 off-street parking spaces.
LAS VEGAS — CBRE has arranged the sale of a 24,285-square-foot office property located at 9525 Hillwood Drive in Las Vegas. 9525 Hillwood LLC sold the asset to 9525 HQ LLC for $6 million. Michael Hsu of CBRE represented the seller in the deal.
NORTH AURORA, ILL. — Colliers has brokered the sale of Park 88 Logistics Center, a two-building industrial development totaling 429,623 square feet in North Aurora. Completed in 2024, the fully leased property is home to three tenants with a weighted lease term of 6.3 years. Park 88 Logistics Center is situated near the full four-way interchange at I-88 and Route 31. Jeff Devine, Steve Disse and Tyler Ziebel of Colliers represented the seller, TradeLane. Ares Management was the buyer.
INDIANAPOLIS — Keystone Group has acquired 120 Monument Circle, the former headquarters of Elevance Health (previously Anthem) in Indianapolis. Keystone has recently acquired and redeveloped more than 1 million square feet of vacant office buildings within one city block marking over $250 million in investment into luxury mixed-use, residential, retail and hospitality developments in downtown Indianapolis. The Indianapolis-based development company will transform 120 Monument Circle, which is currently vacant and is the most expansive property on Monument Circle. Redevelopment plans are still in the early stages and call for rooftop views, outdoor amenities, parking and maximized retail and restaurant spaces. Keystone will work with the community, including civic, nonprofit, higher education institutions and anchor corporations based in downtown Indianapolis as well as city and state leaders.