KENT, OHIO — The Boulder Group has brokered the $2.3 million sale of a single-tenant retail property occupied by Dollar General in Kent. Located at 1154 Tallmadge Road, the asset totals 10,566 square feet. Randy Blankstein and Jimmy Goodman of Boulder Group represented the seller, a preferred Dollar General developer. The buyer was a Delaware Statutory Trust. Dollar General operates more than 20,000 stores in 48 states.
WACO, TEXAS — Cromwell Commercial Group, an affiliate of brokerage firm Coldwell Banker Commercial APEX, Realtors, has arranged the sale of a 1 million-square-foot industrial facility in Waco. The facility, which spans 56 acres at 5200 Beverly Drive, was operated as a glass bottle manufacturing facility for 80 years. The new owner, Dallas-based investment firm Keating Resources, plans to reposition the facility’s 907,000‑square‑foot distribution component for lease or sale and has rebranded the property as Waco I-35 Logistics Center. Jordan Beard of Cromwell Commercial brokered the sale of the property, and the firm has also been retained to direct and market the repositioning strategy.
MATHIS, TEXAS — MAG Capital Partners has purchased a 34,150-square-foot industrial facility in Mathis, about 35 miles northwest of Corpus Christi, in a sale-leaseback deal. The 37.7-acre site at 11557 State Highway 359 houses the global headquarters operations of Airforce Turbine Service and includes a private runway. Steven Okon, Blake Shaffer and Anthony Walters of JLL advised on the transaction. DWG Capital Group arranged acquisition financing for the deal on behalf of the purchaser.
LOS ANGELES — Joint venture partners Hankey Investment Co. and Barker Pacific Group have acquired Sunset Media Center, a 22-story creative office tower in Hollywood’s Media Row, from Kilroy Realty for $61 million. Located at 6255 W. Sunset Blvd., Sunset Media Center features 325,995 square feet of Class A office space with unobstructed view corridors and average floor plates of 18,500 square feet. At the time of sale, the property was 51 percent occupied. Current tenants include Media Res, Magical Elves, The Hollywood Chamber of Commerce, Slickdeals, OpenTable and the AIDS Healthcare Foundation. Built in 1974, Sunset Media Center underwent an extensive multi-million-dollar renovation in 2014 by architect Gensler and features an updated lobby space, onsite visitor parking, redefined common areas, a sun-drenched outdoor plaza with neighborhood retail hot spot and access to major entertainment studios and media professionals. The new ownership has retained JLL’s Dana Vargas and Peter Hajimihalis to handle leasing efforts for the property. Michael Kathrein, Adam Edwards, Sam Baughman and Blake Stamato of Eastdil Secured represented the seller in the deal.
LONGMONT, COLO. — DoubleBay Partners and Midloch Investment Partners have completed the $13.9 million sale of 1630 Pace Street, a retail space situated within Fox Creek Marketplace in Longmont. Mark Thiel and Cory Gross of Marcus & Millichap facilitated the transaction. The name of the buyer was not released. VASA Fitness occupies the 56,000-square-foot space.
CHICAGO — Cushman & Wakefield has arranged the $28.5 million receivership sale of 1900 W Lawrence, a boutique multifamily property in Chicago’s Ravenswood neighborhood. The asset features 59 luxury apartment units and more than 19,000 square feet of ground-level retail space. Located at 1900 W. Lawrence Ave., the building is a former Sears store that was redeveloped in 2021. At the time of sale, the property’s retail space was fully occupied by tenants such as DeVry University and Club Pilates, and the residential units were 94 percent full. The four-story building includes a mix of one-, two- and three-bedroom floor plans, with the second floor consisting of townhome-style units. Each floor includes amenity spaces catered toward remote work and social gatherings. Jack Maloney and Brad Smith of Cushman & Wakefield represented the seller, Matthew Tarshis of Frontline Real Estate Partners, a court-appointed receiver in the matter.
INDIANAPOLIS — Marcus & Millichap has negotiated the $6.7 million sale of a 51,989-square-foot industrial property in Indianapolis. Located at 3823 E. Massachusetts Ave., the facility was fully renovated in 2022 and is net leased to Service Electric Co., a subsidiary of Quanta Services. The building features a clear height of 36 feet, 17 drive-in doors, one dock door and high-capacity power. Gus Poulos, Forest Bender and Joseph DiSalvo of Marcus & Millichap represented the local seller and procured the out-of-market buyer.
CHICAGO — Greenstone Partners has brokered the sale of 401 West Ontario Street, a 48,000-square-foot office building in Chicago’s River North neighborhood. The loft-style building features zoning that supports multifamily redevelopment. Jordan Multack of Greenstone represented the buyer, a private, Chicago-based development group. According to Greenstone, the buyer was drawn to the building’s efficient and flexible floor plates, value-add conversion potential and onsite indoor parking.
GEORGETOWN AND CEDAR PARK, TEXAS — A joint venture between global investment firm Oxford Properties Group and Pine Tree, a retail operator based in Chicago, has purchased a portfolio of two open-air retail centers totaling approximately 1 million square feet in metro Austin. Wolf Ranch Town Center totals roughly 633,000 square feet and is located in the northern suburb of Georgetown. Lakeline Plaza totals roughly 386,000 square feet and is located in Cedar Park, another northern suburb of Austin. Both centers are home to an array of national retailers such as Target, T.J. Maxx, Best Buy and Ulta Beauty. Kyle Minter and Conor Lalor of Newmark brokered the deal. The seller and sales price were not disclosed.
BRYAN, TEXAS — Self-storage brokerage firm Versal has arranged the sale of a 693-unit facility in the Central Texas city of Bryan that is operated under the Lone Star Storage brand. The property, which totals 91,150 net rentable square feet, was sold as part of a larger, family-owned portfolio. Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of Versal represented the Texas-based seller in the transaction. The team also procured the buyer, North Carolina-based Morningstar Properties.
