FORT WORTH, TEXAS — San Diego-based investment firm Westcore has acquired a 160,000-square-foot distribution building in North Fort Worth. The building is situated on a 9.3-acre site within North Quarter 35 Business Park, a four-building, 645,000-square-foot development. Building features include 32-foot clear heights, 185-foot truck court depths, 35 dock-high doors, two grade-level doors and 21 trailer parking stalls. Westcore acquired the building in a sale-leaseback with an undisclosed owner-occupier and now owns North Quarter 35 Business Park in its entirety, having purchased three existing buildings at the property in 2023.
IRVING, TEXAS — Partners Real Estate has brokered the sale of Embassy Apartments, a 111-unit multifamily complex in Irving. According to Apartments.com, the property offers one-, two- and three-bedroom units, as well as onsite laundry facilities. Preston Browne and Scott Lunine of Partners brokered the deal, which traded at a per-unit price of roughly $125,000. The seller and buyer were not disclosed.
WADDELL, ARIZ. — IndiCap and Invesco Ltd. have completed the disposition of a modern industrial facility located within Virgin Industrial Park in Waddell, an unincorporated community in Maricopa County, Ariz. An undisclosed buyer acquired the property for $90.6 million. VIP Industrial Holdings LLC holds the 566,121-square-foot asset, which is located at 15784 W. Hatcher Road. Marc Hertzberg, Riley Gilbert and Kelly Royle of JLL represented the sellers, while Sean Kropke, Michael Haenel and Justin Smith of Cushman & Wakefield represented the buyer in the deal.
DENVER — Cushman & Wakefield has brokered the sale of Leetsdale Marketplace, a 111,669-square-foot grocery-anchored retail center at 7150 Leetsdale Drive in Denver. Legacy Capital Partners sold the asset to a partnership led by Citivest Commercial for $13 million. Jon Hendrickson and Aaron Johnson of Cushman & Wakefield represented the seller in the transaction.
VALLEY COTTAGE, N.Y. — JLL has brokered the sale of a portfolio of four industrial buildings totaling 209,792 square feet in Valley Cottage, about 35 miles north of New York City. Known as the Northern I-287 Small-Bay Portfolio, the buildings collectively span 16.5 acres, range in size from 29,700 to 72,000 square feet and were 96 percent leased to 27 tenants at the time of sale. JLL represented the seller, an undisclosed private investor, in the transaction. JLL also arranged acquisition financing for the deal through PCCP LLC on behalf of the buyer, Connecticut-based investment firm East Capital Partners.
RICHTON PARK, ILL. — Marcus & Millichap has arranged the sale of Carriage Creek Apartments, a 226-unit multifamily property in the southern Chicago suburb of Richton Park. Ryan Engle and Andrean Angelov of Marcus & Millichap represented the buyer and seller, both of which were private investors. Located at 22501 Butterfield Road, the property comprises 190,328 rentable square feet across nearly 26 acres. Built in two phases in 1972 and 1974, the community features a mix of studio, one- and two-bedroom units. The asset is within walking distance of the Richton Park Metra Station.
GREEN BAY, WIS. — NAI Pfefferle has brokered the sale of a 13,500-square-foot office building located at 3450 Packerland Drive in Green Bay. The sales price was not disclosed, but the asking price was $2.9 million. Adam Meyers of NAI Pfefferle brokered the sale.
CHARLOTTE, N.C. — Cousins Properties has purchased 300 South Tryon, a 638,000-square-foot office building in Uptown Charlotte, for $317.5 million. Barings, a global asset management firm and subsidiary of MassMutual, sold the 25-story tower to the Atlanta-based REIT. The Spectrum Cos. developed the office building in 2017 as the global headquarters for Barings. Cousins is funding the acquisition with proceeds from non-core asset sales, debt financing and the settlement of common shares. 300 South Tryon was fully leased at the time of sale with a weighted average lease term (WALT) of six years.
DEERFIELD BEACH, FLA. — Cushman & Wakefield has brokered the $34.5 million sale of two office buildings located at 602-668 and 776-858 S. Military Trail in Deerfield Beach, a city in South Florida’s Broward County. The single-story buildings are situated within Deerfield Corporate Park and total 157,510 square feet. The properties, dubbed Building 1 and Building 6, were 87.6 percent leased to 26 tenants at the time of sale. Scott O’Donnell, Greg Miller, Mike Ciadella and Miguel Alcivar of Cushman & Wakefield represented the seller, an affiliate of New Jersey-based Denholtz doing business as Denholtz Deerfield LLC, in the transaction. A private capital investment group purchased the two buildings. Deerfield Corporate Park was originally built in 1985 and renovated in 2017.
SAN FRANCISCO —TMG Partners and equity partner Bridges Capital LLC have acquired Metreon, a 320,000-square-foot, vertically oriented shopping center in downtown San Francisco. Built in 1999, the retail and entertainment destination is anchored by Target and a 16-screen AMC Theatres that features the tallest IMAX screen in North America. Locally based TMG and Bridges Capital purchased the four-story property from Acore Capital in a deed-in-lieu transaction. The sales price was not disclosed. The City and County of San Francisco will continue to retain ownership of Metreon’s ground lease through at least 2082, according to the San Francisco Business Times. The news outlet also reported Acore Capital was the mortgage lender for Metreon on behalf of the previous owner, Starwood Capital Group. “This investment in Metreon is a powerful vote of confidence in our downtown recovery,” says San Francisco Mayor Daniel Lurie. “We’re grateful for [TMG’s] partnership as we work to accelerate San Francisco’s comeback.” Metreon is located at 135 4th St. at Mission in the city’s Yerba Buena neighborhood. The property includes City View at Metreon, a 31,000-square-foot events venue with floor-to-ceiling windows offering views of the San Franisco skyline. TMG will rebrand the venue and partner with Skylight, a …