AUBURN, WASH. — Schnitzer Properties has purchased White River Corporate Park, a 230,575-square-foot, four-building industrial park in Auburn. With this acquisition, Schnitzer Properties owns and manages more than 2.5 million square feet in the Puget Sound area, with 594 tenants. White River Corporate Park is fully leased and houses 12 tenants, including manufacturers, distributors and service providers. Brett Hartzell and Paige Morgan of CBRE handled the transaction. The financial terms of the deal were not released.
SAN DIEGO — A joint venture between Harbor Associates and F&F Capital Group has purchased Highlands Corporate Center, a Class A office campus in San Diego’s Del Mar Heights, for an undisclosed price. Located at 12730-12780 High Bluff Drive, Highlands Corporate Center offers 211,000 square feet of office space spread across five buildings. The recently renovated campus features new lobby finishes, a new conference center, fitness facilities, tenant lounge and an outdoor pavilion, as well as electric vehicle charging stations and private balconies on several of the upper-floor tenant suites. Adam Edwards, Justin Shepherd and Bailey Bland of Eastdil Secured represented the undisclosed seller in the deal. At the time of sale, Highlands Corporate Center was 90 percent leased.
ALISO VIEJO, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the sale of a two-story retail and medical building at 26711 Aliso Creek Road in Aliso Viejo. A San Francisco-based private investor sold the asset to an Irvine, Calif.-based private investor for $9.4 million. Both parties requested anonymity. Buffalo Wild Wings Grill & Bar, Active Med Supply, Cold Stone Creamery, F45 Training, Kidcreate Studio and three dental offices are tenants at the 24,986-square-foot building, which was built on two acres in 2004. The building is situated within Aliso Viejo Town Center, a 380,000-square-foot development. Sean Cox and Kevin Fryman of Hanley Investment Group represented the seller, while Alton Burgess of Voit Real Estate Services represented the buyer in the deal.
CHICAGO — Greenstone Partners has brokered the sale of a retail property located at 4066-4080 N. Milwaukee Ave. in Chicago’s Portage Park neighborhood for $6.9 million. The two-building asset is home to medical-related tenants, including Athletico Physical Therapy, DentalWorks, America’s Best Contacts and Eyeglasses and Midwest Express Clinic. The center features 16,063 square feet of gross leasable area on 35,185 square feet of land and includes 41 off-street surface parking spaces. The property was fully leased at the time of sale. Danny Spitz and Brewster Hague of Greenstone represented the seller, a private investment fund, and procured the buyer, a private partnership based in Illinois.
KISSIMMEE, FLA. — Cushman & Wakefield has brokered the $54.6 million sale of Osceola Logistics Center, an industrial property located at 5010 and 5030 Industrial Lane in Kissimmee. InLight Real Estate Partners and Black Salmon developed and sold the property to Principal Asset Management. Developed earlier this year, the Central Florida facility comprises two distribution facilities totaling 280,800 square feet: Building 200 (147,420 square feet) and Building 100 (133,380 square feet). Osceola Logistics Center was fully leased to a grocery and food service supply chain services company at the time of sale. Mike Davis, Rick Colon, Rick Brugge, Dominic Montazemi, Jared Bonshire and David Perez of Cushman & Wakefield represented the sellers in the transaction.
GOULDS, FLA. — Resia has sold Resia Old Cutler, a 390-unit apartment community located at 22555 S.W. 107th Ave. in Goulds, roughly 30 miles southwest of Miami. Kayne Anderson Real Estate acquired the property — which was completed in 2023 and offers one-, two- and three-bedroom residences — for an undisclosed price. Amenities at Resia Old Cutler include a multipurpose room, fitness center, children’s play area and a swimming pool. Resia will continue to serve as property manager for the community, overseeing day-to-day operations.
ELIZABETHTOWN, KY. — The Kirkland Co. has arranged the sale of The Reserve at Cool Springs, a 216-unit apartment community located in Elizabethtown, roughly 45 miles south of Louisville. Amenities at the property, which features a mix of two- and three-bedroom units, include a clubhouse, swimming pool, fitness center, grilling and outdoor entertainment areas and garage parking. The Reserve at Cool Springs was completed in 2023. Brandon Wilson, Brian Devlin and John Seale of Kirkland Co. brokered the transaction. An entity doing business as The Reserve at Cool Springs Property LLC acquired the community from an entity doing business as Reserve at Cool Springs LLC for an undisclosed price. Monthly rental rates at Reserve at Cool Springs range from $1,275 to $1,975, according to Apartments.com. The Elizabethtown-Fort Knox market in Kentucky has seen a 5.8 percent growth in multifamily rents over the past year, according to Kirkland Co.
PHOENIX — U-Haul (NYSE:UHAL.B), a national provider of moving and storage services, has acquired a four-property portfolio of self-storage facilities in the Midwest totaling 3,345 units. NexPoint Storage Partners, the self-storage arm of Dallas-based NexPoint, sold the portfolio for an undisclosed price. Three of the facilities are concentrated in the Twin Cities region of Minnesota, and the fourth is located in Kansas City, Kan. The properties include 101 American Blvd. W and 3216 Winnetka Ave N in Minneapolis; 631 Transfer Road in St. Paul, Minn.; and 500 Southwest Blvd. in Kansas City. U-Haul has begun operating the assets under its own brand of self-storage and moving services. Extra Space Storage formerly operated the facilities. The portfolio totals 327,791 net rentable square feet of climate-controlled space. Overall, the portfolio was 88 percent occupied at the time of sale. JLL represented NexPoint Storage Partners in the transaction. In addition to the acquisition, U-Haul is growing its footprint in the Twin Cities area via a new U-Haul Moving & Storage location in Ramsey, located northwest of Minneapolis. The facility represents U-Haul Co. of Northern Minnesota’s first ground-up build. U-Haul acquired the 8.7-acre property at Highway 10 and Riverdale Drive last week. The lot was …
RICHARDSON, TEXAS — NAI Robert Lynn has brokered the sale of Richardson Tech Center, a 96,000-square-foot industrial flex building located on the northeastern outskirts of Dallas. According to LoopNet Inc., Richardson Tech Center is a four-building complex that was constructed in 1987. Jim Hancock of NAI Robert Lynn, along with internal agent Britton Wells, represented the buyer, Los Angeles-based investment firm Entrada Partners, in the transaction. Margaret Hartman and Al Hartman of Hartman Cos. represented the seller, an entity doing business as Hartman Richardson Tech Center LLC.
VIRGINIA BEACH, VA. — Hamilton Zanze has sold Maple Bay Townhomes, a 414-unit apartment community located at 356 S. Chesire Court in Virginia Beach. The buyer and sales price were not disclosed. The San Francisco-based seller originally acquired the property in 2019 and improved net operating income by 35 percent due to comprehensive capital improvements made over the course of its ownership. These renovations included roof replacements, the repainting of building exteriors and upgrades to the apartment homes, pool area and other common-area amenities. Maple Bay was built in 1971 and features one-, two- and three-bedroom units sized from 1,000 to 1,400 square feet. The property represents Hamilton Zanze’s third disposition this year.