GRAPEVINE, TEXAS — Locally based brokerage firm The Woodmont Co. has negotiated the sale of Grapevine Centre, an 85,421-square-foot retail property located in the northern-central part of the metroplex. The center was fully leased at the time of sale to tenants such as Petco, Harbor Freight Tools, Joann Fabrics, Dollar Tree and Angel’s Attic. Russel Wehsener and Bryan Dyer of Woodmont represented the seller in the transaction. Roger Smeltzer of Vision Commercial represented the undisclosed buyer.
GARLAND, TEXAS — Illinois-based Industrial Outdoor Ventures (IOV) has purchased a 3.6-acre industrial outdoor storage (IOS) facility in Garland, a northeastern suburb of Dallas. The property at 2210 Hightower Drive houses an 18,564-square-foot building with 20-foot clear heights and six drive-in doors. Caleb McCoy and Paul Davis of JLL represented the undisclosed seller in the transaction and are marketing the facility for lease.
NEW YORK CITY — Marcus & Millichap has negotiated the $5.6 million sale of two apartment buildings totaling six units in the Carroll Gardens area of Brooklyn. The buildings at 431-433 Court St. were originally built in 1920 and house two-bedroom units, as well as a ground-floor retail space occupied by Citizens Bank. Matt Fotis of Marcus & Millichap represented the seller in the transaction and procured the buyer, both of which were local private investors that requested anonymity.
WASHINGTON, D.C. — BXP, a publicly traded office REIT that was previously known as Boston Properties Inc., has closed on its purchase of 725 12th Street, a 12-story office building in Washington, D.C.’s East End. The Boston-based firm acquired the 300,000-square-foot property for $34 million. The seller was not disclosed. BXP plans to demolish the office building and redevelop the site to make way for a new 320,000-square-foot, Class A office property. The REIT recently signed law firm McDermott Will & Emery to occupy approximately 150,000 square feet across the top five levels of the new office development. Lou Christopher, Jordan Brainard, Rob Copito and Clay Hammerstein of CBRE represented McDermott Will & Emery in the lease negotiations. Evan Behr of JLL represented the landlord. BXP expects to deliver the new office building in late 2028.
OXFORD, PA. — NAI Emory Hill has brokered the $3.4 million sale of a 15,600-square-foot retail strip center in Oxford, about 60 miles southeast of Philadelphia. Walgreens anchors the center, which was fully leased at the time of sale. Other tenants include sandwich shop Bigfoot’s Express, Domino’s Pizza and Vape2Go. Rich Dudek of NAI Emory Hill brokered the deal. The buyer and seller were not disclosed.
ORLANDO, FLA. — JLL has brokered the sale of a 513,560-square-foot industrial park located in Orlando’s Northwest Orange County submarket. LaSalle Investment Management purchased the property from an affiliate of PGIM Real Estate for an undisclosed price. Luis Castillo, Cody Brais and Taylor Osborne of JLL brokered the transaction. Built in 2018-2019, the five-building park represents Phase I of Princeton Oaks and was fully leased to 15 tenants at the time of sale. Justin Ruby and Joey Woodman of Foundry Commercial spearhead the leasing assignment at Princeton Oaks.
NASHVILLE, TENN. — Olympus Property has acquired The Griff, a 255-unit apartment community in Nashville’s Germantown neighborhood. The seller and sales price were not disclosed. Built in 2019, The Griff offers studio, one- and two-bedroom apartments ranging in size from 589 to 1,251 square feet. Amenities include a sky lounge with panoramic views, fitness center, private recording studio, riverfront courtyard, pet park and multiple levels of structured parking. The acquisition brings Olympus Property’s Tennessee portfolio to more than 1,200 units owned and managed.
LARGO, FLA. — Plaza Advisors has negotiated the sale of Central Park Plaza, a 47,653-square-foot shopping center in Largo, a city in the Tampa metro area. Jeff Berkezchuk and Jim Michalak of Plaza Advisors represented the undisclosed seller in the transaction. The buyer and sales price were also not disclosed. Situated on 4.3 acres along Missouri Avenue, Central Park Plaza was 95 percent leased at the time of sale to tenants including NAPA Auto Parts, Rent-A-Center, Boost Mobile and AMA Medical Group (Humana).
LOS ANGELES — Waterton has acquired G12, a mid-rise multifamily property at 1200 S. Grand Ave. in Los Angeles’ South Park neighborhood. Terms of the transaction were not released. Cushman & Wakefield arranged the deal. Built in 2017, G12 offers 347 studio, one- and two-bedroom apartments with loft options. Residences include private balconies, quartz countertops, stainless steel GE appliances, in-unit washers/dryers and vinyl plank flooring. The buyer plans to renovate the units with the addition of mobile kitchen islands and upgraded lighting and plumbing fixtures throughout. Community amenities include a lounge with fireplace, fitness center with a yoga/spin studio and Peloton bikes, an outdoor pool and sundeck with grilling stations, a sky terrace with a rooftop dog run, private underground parking and bike storage. Additionally, the property includes 17,000 square feet of street-level retail space.
YORBA LINDA, CALIF. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Home Ranch Commons, a mixed-use medical and retail property in Yorba Linda. Greenbridge Partners sold the asset to Optimus Properties LLC for $35.6 million. Tom Lagos, Mark DeGiorgio, Jose Carrazana and Patrick Toomey of IPA represented the seller in the transaction. Built in 1984 and renovated in 2018, the 60,737-square-foot Home Ranch Commons is co-anchored by UCI Health and Kiddie Academy. Additional tenants at the property include Blue Agave, YL Family Chiropractic, Bodhi Leaf Trading Co., Coder School and Torkian Aesthetic Center.