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Acquisitions

Academy Sports MS
AcquisitionsMississippiRetailSoutheast

SRS Brokers $9.4M Sale of Single-Tenant Retail Property Leased to Academy Sports in Madison, Mississippi

by Abby Cox

MADISON, MISS. — SRS Real Estate Partners has brokered the $9.4 million sale of a single-tenant retail property leased to Academy Sports + Outdoors located in Madison, about 15 miles north of Jackson. Michael Berk, Patrick Nutt and Chip Watson of SRS represented the Louisiana-based private seller. The buyer was a publicly traded REIT. Both parties requested anonymity. Built in 2017 on about 7 acres, Academy Sports occupies a 64,626-square-foot building on a corporate-guaranteed lease with eight years remaining. Nearby retailers include Lowe’s Home Improvement, Office Depot, Walmart Supercenter and The Home Depot, among others.

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155-N-400-West-SLC-UT
AcquisitionsOfficeUtahWestern

KBS Sells 210,938 SF Salt Lake Hardware Building in Downtown Salt Lake City

by Amy Works

SALT LAKE CITY — KBS has completed the sale of the Salt Lake Hardware Building, a historic office building located at 155 N. 400 West in downtown Salt Lake City, to Dart Interests for an undisclosed price. The five-story Salt Lake Hardware Building was owned by KBS Real Estate Investment Trust III, part of KBS’ portfolio of funds and separate accounts. Originally constructed in 1909 as a hardware retail property, the 210,938-square-foot building was converted into a Class A creative office property. The site also includes 2.4 acres of land zoned for mixed-use, providing future development potential for approximately 340 or more residential units.During its ownership, KBS has invested more than $9 million in capital improvements, enhancing tenant and common areas, amenities and building systems to support long-term performance and positioning. Charley Will, Phil Brierley, Patrick Bodnar and Cole Macadaeg of CBRE represented KBS in the sale. Attorneys Bruce Fischer and Howard Chu of Greenberg Traurig LLP represented KBS in the disposition.

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39112-39228-10th-St-W-Palmdale-CA
AcquisitionsCaliforniaRetailWestern

SRS Real Estate Partners Brokers $13.5M Sale of Two-Tenant Retail Property in Palmdale, California

by Amy Works

PALMDALE, CALIF. — SRS Real Estate Partners has arranged the sale of a two-tenant retail property located at 39112-39228 10th St. West in Palmdale. A family office sold the asset to a Southern California-based private investor for $13.5 million. Smart & Final and Barnes & Noble occupy the 58,652-square-foot property. Built in 1999 on 4.1 acres, the property is situated within Palmdale Marketplace, a 214,000-square-foot power center. Matthew Mousavi and Patrick Luther of SRS Capital Markets represented the seller in the transaction.

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Washington-Center-Denver-CO
AcquisitionsColoradoRetailWestern

JLL Arranges $10.2M Sale of Washington Center Retail Property in Denver

by Amy Works

DENVER — JLL Capital Markets has arranged the sale of Washington Center, a shopping center located at 812-858 E. 120th Ave. and 11874-11890 Washington St. in Denver. Northglenn LLC sold the property to a local investment firm for $10.3 million. At the time of sale, the 50,445-square-foot center was 92 percent leased with 19 tenants across 21 suites. Current tenants include CSL Plasma, Smashburger, Subway and established local businesses. Jason Schmidt and Austin Snedden of JLL represented the seller in the transaction. Rob Bova of JLL arranged a fixed-rate loan from a bank for the buyer.

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AcquisitionsIndianaIndustrialMidwest

Colliers Brokers Sale of 554,228 SF Distribution Facility in Greenfield, Indiana

by Kristin Harlow

GREENFIELD, IND. — Colliers has brokered the sale of 70 Connect II, a 554,228-square-foot distribution facility in Greenfield within the Indianapolis Mount Comfort submarket. Alex Cantu, Alex Davenport, Jeff Devine, Steve Disse, Tyler Ziebel, Cam Kucic and Korey Ryan of Colliers represented the seller, Lauth Group Inc. Delivered in 2022, the property is fully leased to Yusen Logistics, a global third-party logistics provider and wholly owned subsidiary of Nippon Yusen Kabushiki Kaisha. The facility features a clear height of 36 feet, 60 dock-high doors, four drive-in doors, a 140-foot truck court and trailer and automobile parking. The buyer was Hillwood.

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AcquisitionsIllinoisMidwestMultifamily

Eastham Capital, Bender Cos. Acquire Multifamily Community in Metro Chicago for $30.4M

by Kristin Harlow

RICHTON PARK, ILL. — Eastham Capital and its operating partner Bender Cos. have acquired Park Towers Apartment Homes in Richton Park for $30.4 million. The 270-unit multifamily community is situated in Cook County. Park Towers is currently 94 percent occupied with average rents of $1,531 per month. The buyers plan to invest over $2.2 million focused on property infrastructure and exterior upgrades. Built in 1974, the property features floor plans ranging from 770 to 910 square feet. Amenities include a fitness center, business center, onsite laundry facilities, a putting green, outdoor games and a playground. To date, Eastham and Bender have co-invested in 13 projects.

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AcquisitionsIndustrialTexas

Dalfen Industrial Acquires 1.4 MSF Portfolio in Dallas, Midwest for $207.5M

by Taylor Williams

DALLAS — Locally based investment firm Dalfen Industrial has acquired a portfolio of 19 industrial properties totaling approximately 1.4 million square feet, the majority of which (13) are located in the Dallas area. The sales price was $207.5 million. The other six properties are scattered across Midwestern markets, including Chicago, Cincinnati and Indianapolis. The Dallas properties are located in submarkets such as Plano, Valwood and the Great Southwest. The portfolio was 93 percent leased to 48 tenants at the time of sale. Jack Fraker, Dom Espinosa and Travis McEldowney of Newmark represented the seller, Mapletree, a development and investment firm based in Singapore, in the transaction.

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Baybrook-Village-Webster
AcquisitionsRetailTexas

CBRE Brokers Sale of 278,842 SF Baybrook Village Shopping Center in Metro Houston

by Taylor Williams

WEBSTER, TEXAS — CBRE has brokered the sale of Baybrook Village, a 278,842-square-foot shopping center located in the southeastern Houston suburb of Webster. Built in 1978 and renovated in 2020, Baybrook Village is home to tenants such as Burlington, Ross Dress for Less, PetSmart, PGA Superstore, Chuck E. Cheese, Haverty’s and pOpshelf. Mark Witcher, Jolie Duhon, Jim Batjer, Chris Cozby and Harrison Tye of CBRE’s National Retail Partners team represented the seller, a partnership between O’Connor Capital Partners and Wafra, in the transaction. Brent Crawford and John Fenoglio, also with CBRE, arranged acquisition financing on behalf of the buyer, Fidelis Realty Partners.

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Green-Tree-Place-Houston
AcquisitionsMultifamilyTexas

Berkadia Arranges Sale of 200-Unit Apartment Complex in West Houston

by Taylor Williams

HOUSTON — Berkadia has arranged the sale of Green Tree Place, a 200-unit apartment complex in West Houston. Built in 1984, the property offers one- and two-bedroom units and amenities such as a pool, fitness center, business center, playground, outdoor kitchen and a cyber café. Chris Young, Chris Curry, Jeffrey Skipworth, Joey Rippel, Kyle Whitney and Jed Dalton of Berkadia represented the seller, Kairos Investment Management, in the transaction. The buyer was Texas-based investment firm Aligned Ventures.

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