Acquisitions

IPA Arranges Sale of 371-Unit Skye Multifamily Community in Seattle

by Amy Works April 16, 2025

SEATTLE — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has directed the sale of Skye, an 18-story apartment property in Seattle’s Denny Triangle neighborhood. Terms of the transaction were not released. Philip Assouad, Giovanni Napoli, Ryan Harmon, Nick Ruggiero and Anthony Palladino of IPA represented the seller and procured the buyer. Built in 1949, Skye has undergone significant building upgrades over the past 10 years and all units were upgraded between 2014 and 2016. The property has a controlled-access parking garage, a rooftop terrace, fenced dog park, walking trails and green lawns. The community offers 371 studio, one- and two-bedroom apartments with new cabinets, quartz countertops, stainless steel or black appliances, and new plumbing and lighting fixtures. Skye also offers 13,300 square feet of ground-level retail space.

April 16, 2025

Acquisitions Colorado Retail Western

Trevey Commercial Negotiates Sale of 26,000 SF Retail Building in Parker, Colorado

by Amy Works April 16, 2025

PARKER, COLO. — Trevey Commercial Real Estate has directed the sale of Stagecoach Building, a retail property on 1.7 acres in Parker. Pony Express LLC sold the asset to 18632 Pony LLC for $2.7 million. Located at 18632 Pony Express Drive, Stagecoach Building features 26,000 square feet of retail space. David Marulli of Trevey Commercial Real Estate represented the seller, while James West of Black Diamond Commercial Real Estate represented the buyer in transaction.

April 16, 2025

Acquisitions California Industrial Western

Marcus & Millichap Brokers Sale of 6,528 SF Industrial Property in Chino, California

by Amy Works April 16, 2025

CHINO, CALIF. — Marcus & Millichap has arranged the sale of an industrial property located at 14251 Fern Ave. in Chino. An individual/personal trust sold the asset to an undisclosed owner-user for $2.5 million. Built in 2006, the 6,528-square-foot standalone property features an upgraded roof. Mir Ali, Drew Wetherholt and Kevin Struve of Marcus & Millichap represented the seller and procured the buyer in the deal.

April 16, 2025

Acquisitions California Retail Western

Raceway Express Car Wash Buys 3,693 SF Foothill Express Car Wash in Fontana, California

by Amy Works April 16, 2025

FONTANA, CALIF. — Raceway Express Car Wash has acquired Foothill Express Car Wash, located at 16345 Foothill Blvd. in Fontana, for an undisclosed price. Originally built in 2018 by the seller, the property features a 3,693-square-foot building with a 120-foot tunnel and 25 vacuum stations. Alex Kogan of Beta Agency represented the seller, while Adam Indihar of Pacific Investments represented the buyer in the deal.

April 16, 2025

Acquisitions Illinois Midwest Multifamily

The Apartment Source, Westward360 Unveil Strategic Merger in Chicago

by Kristin Harlow April 16, 2025

CHICAGO — The Apartment Source (TAS), a real estate firm specializing in multifamily leasing, has unveiled the merger of its property management division with Westward360, a provider of real estate property management services for rental property owners and community associations. The merger brings together two companies in the Chicago real estate market. According to a release, Westward360’s reputation in property management will help TAS expand into new Chicago and suburban markets, while Westward360 will broaden its portfolio.

April 16, 2025

Acquisitions Illinois Industrial Midwest

Venture One Acquires 37,287 SF Industrial Building in Elmhurst, Illinois

by Kristin Harlow April 16, 2025

ELMHURST, ILL. — Venture One Real Estate, through its acquisition fund VK Industrial VII LP, has acquired a 37,287-square-foot industrial building in Elmhurst. The single-tenant property is currently leased on a short-term basis and will be available for lease in September. Constructed in 1970, the building sits on 1.7 acres and features a clear height of 16 feet, two docks, two oversized drive-in doors, parking for over 21 cars and an additional 0.4 acres of secured yard for outdoor storage or additional parking. Joe Karmin, Justin Lerner and Ross Lehrman of Transwestern represented the seller and will be retained to market the property for Venture One. VK Industrial VII is co-sponsored by Venture One and Kovitz Investment Group.

April 16, 2025

Acquisitions Multifamily North Carolina Southeast

Cushman & Wakefield Brokers Sale of 396-Unit Averly at Flowers Apartments in Clayton, North Carolina

by John Nelson April 15, 2025

CLAYTON, N.C. — Cushman & Wakefield has brokered the sale of The Averly at Flowers, a 396-unit apartment community located at 380 Topwater Drive in Clayton, about 24 miles southeast of Raleigh. Alex McDermott, Hunter Bowling, Charlie Gravina, Rhodes Marley and Paul Marley of Cushman & Wakefield represented the seller, Ardmore Residential Inc., in the transaction. ECI Group purchased the community for an undisclosed price in partnership with Almanac Realty Investors, a division of Neuberger-Berman. Built in 2023 and formerly known as Adrmore at Flowers Apartments, The Averly at Flowers features 11 residential buildings, as well as amenities including resort-style swimming pools, grilling pavilions, business centers, fitness centers, a pet play area and walking/biking trails. The property is part of the 3,000-acre Flowers Plantation master-planned community.

April 15, 2025

Acquisitions Hospitality South Carolina Southeast

Marcus & Millichap Negotiates $12.9M Sale of AVID Hotel in Summerville, South Carolina

by John Nelson April 15, 2025

SUMMERVILLE, S.C. — Marcus & Millichap has negotiated the $12.9 million sale of AVID Summerville, a 95-room hotel located at 301 Holiday Drive in Summerville, roughly 23 miles from Charleston. The AVID hotel, which opened in 2021 off I-26, includes a 24-hour gym, 24-hour market with grab-and-go breakfast items and complimentary Wi-Fi. Jack Davis, Sam Gardner, Chase Dewese, Chris Gomes, Skyler Cooper, Joce Messinger and Allan Miller of Marcus & Millichap represented the seller in the transaction. Davis, Messinger and Dewese also procured the buyer. Both parties requested anonymity.

April 15, 2025

Acquisitions Industrial Texas

JLL Brokers Sale of 297,640 SF Cold Storage Facility in Baytown, Texas

by Taylor Williams April 15, 2025

BAYTOWN, TEXAS — JLL has brokered the sale of Blackline Cold Storage, a 297,640-square-foot facility located in the eastern Houston suburb of Baytown. Built in 2022 within the Cedar Port Industrial Park master-planned development, the facility features 45-foot clear heights, 22 dock doors, over 36,000 pallet positions and an ESFR sprinkler system. Trent Agnew, Will Mogk, Keenan Ryan and Clay Anderson of JLL represented the undisclosed seller in the transaction. The buyer was Atlanta-based cold storage owner-operator Americold Realty Trust.

April 15, 2025

Acquisitions Multifamily Texas

Greysteel Arranges Sale of 116-Unit Candle Chase Apartments in Southwest Fort Worth

by Taylor Williams April 15, 2025

FORT WORTH, TEXAS — Greysteel has arranged the sale of Candle Chase Apartments, a 116-unit apartment complex in southwest Fort Worth that was built in 1969. According to Apartments.com, the property offers one- and two-bedroom units that range in size from 715 to 1,198 square feet. Doug Banerjee and Sterling Warren of Greysteel represented the seller, Epic Capital Partners, in the transaction. The buyer, an entity doing business as Delara Chase LLC, has rebranded the property as Delara Chase Apartments.

April 15, 2025

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