MONROE, LA. — Kohan Retail Investment Group has acquired Pecanland Mall, a 964,123-square-foot regional shopping center located in Monroe. Originally opened in 1985, the mall features more than 100 specialty shops, along with a food court. Tenants include Belk, Dillard’s, Dick’s Sporting Goods, JCPenney, American Eagle, Aerie, Bath & Body Works, The Children’s Place, Old Navy and Victoria’s Secret. Newmark brokered the transaction. The seller and sales price were not disclosed.
ORANGE PARK, FLA. — Cushman & Wakefield has brokered the sale of Bolton Plaza, a 174,037-square-foot power retail center in Orange Park, about 20 miles south of Jacksonville. A privately held investment firm purchased the center from KPR Centers for an undisclosed price. Mark Gilbert, Adam Feinstein and Mitchell Halpern of Cushman & Wakefield’s Retail Advisory Group represented the seller in the transaction. Bolton Plaza was fully leased at the time of sale to tenants including Aldi, Academy Sports + Outdoors, LA Fitness and Marshalls.
VON ORMY, TEXAS — A partnership between Valrock, a newly launched industrial investment firm, and Austin-based Evergen Equity has acquired a 194,255-square-foot building in Von Ormy, a southwestern suburb of San Antonio. The building at 10600 Fischer Road was fully leased at the time of sale to packaging company Smurfit Westrock. Andrew Price and Braeden Bernstein of CBRE represented the seller, an undisclosed private investor, in the transaction.
NEW YORK CITY — Marcus & Millichap has brokered the $7.7 million sale of a 15-unit apartment building in Manhattan’s Lower East Side. The newly renovated building at 259 E. Broadway exclusively offers two-bedroom units, seven of which are subject to income restrictions, and includes a ground-floor commercial space. Joe Koicim, Logan Markley and Matt Berger of Marcus & Millichap represented the seller, R.A. Cohen & Associates, in the transaction and procured the buyer, a private out-of-state investor.
BRANFORD, CONN. — Locally based brokerage firm O,R&L Commercial has arranged the $6 million sale of a 55,274-square-foot industrial building located in the southern coastal Connecticut city of Branford. According to LoopNet Inc., the building at 45 NE Industrial Road was originally constructed in 1950 and renovated in 2010. Will Braun of O,R&L brokered the deal. The buyer and seller were both limited liability companies that requested anonymity.
CAMPBELL, CALIF. — Peninsula Land & Capital has acquired Lincoln Court, a three-story office building in Campbell, from an undisclosed seller for $24.6 million. Located at 2105 S. Bascom Ave., Lincoln Court offers 124,724 square feet of multi-tenant office space on a 4.2-acre site. The asset was originally built in 1986 and renovated in 2021. Prior ownership invested nearly $6 million in capital improvements, including a renovated courtyard, lobby and locker rooms with showers, as well as a new common area conference center and fitness center. At the time of sale, Lincoln Court was 56 percent leased to 25 tenants. Steven Golubchik, Edmund Najera, Darren Hollak and Brendan Raney of Newmark represent the seller in the deal.
ESCONDIDO, CALIF. — The Little Dragovic Team of Lee & Associates – North San Diego County has negotiated the sale of an industrial property located at 410, 414 and 416 Hale Ave. in Escondido. An entity doing business as Hale Holdings LP/Raymer Properties LP sold the asset to Mariste Enterprises LP for $11.5 million. Ne-Mo’s Bakery fully occupies the property and has been the original tenant since the building was delivered in 1975. Ne-Mo’s Bakery uses the facility for corporate office space, baking, food processing, cooler/freezer storage, dry good storage, warehousing and distribution for its signature individually wrapped cakes and sweet baked goods. The asset consists of 59,757 square feet of industrial space located on three contiguous parcels of land spanning 369 acres. The property’s underlying M1 zoning allows industrial outside storage (IOS). Marko Dragovic, Isaac Little and Olivia Baffert of the Little Dragovic Team, Lee & Associates – North San Diego County represented the seller, while Ryan Turnquist and Matt Skogebo of Lee & Associates – Riverside represented the buyer in the deal. The buyer plans to hold the property as a long-term investment.
CHESAPEAKE, VA. — Berkadia has arranged the sale of Allure at Edinburgh, a newly delivered, 280-unit apartment community located in the Hampton Roads city of Chesapeake. Drew White, Carter Wood, Matt Straughan and Cole Carns of Berkadia represented the seller, Virginia Beach-based Venture Realty Group, in the transaction. Irvine, Calif.-based Passco Co. purchased the property for an undisclosed price. Arlington Properties will manage Allure at Edinburgh, which was delivered in two phases across 2024 and 2025 and consists of three four-story residential buildings. The community offers a mix of one-, two- and three-bedroom floorplans with an average unit size of 973 square feet. Amenities include a saltwater resort-style swimming pool with a sundeck and splash pad, a clubhouse with a cybercafé, multiple resident lounges, a fitness center with yoga and children’s activity rooms, as well as a golf simulator, arcade, video game lounge, screening and media rooms, makers space, photography room, massage and meditation rooms and private conference rooms. Additional amenities include outdoor lounge areas, grilling stations, courtyards, an outdoor gaming park, bike storage, a dog park and pet spa, community-wide Wi-Fi and electric vehicle charging stations.
PLAINFIELD, ILL. — JVM Realty Corp. has entered into a joint venture partnership with DRA Advisors to acquire Enclave at 127th, a 340-unit multifamily community in Plainfield. Built in 2013, the property offers a mix of studio, one-, two- and three-bedroom units. The partnership plans to complete apartment unit renovations and amenity enhancements. Enclave at 127th has been part of JVM’s portfolio since 2014, and partnering with DRA will enable the firm to enhance the resident experience through strategic capital improvement, says Jay Madary, president and CEO of JVM.
FALCON HEIGHTS, MINN. — Marcus & Millichap has brokered the $5.1 million sale of Falcon View Apartments, a 36-unit multifamily property in Falcon Heights near the University of Minnesota’s St. Paul campus. Built in 1968, the asset consists of two 18-unit buildings with a mix of floor plans totaling 36,768 rentable square feet. Michael Jacobs, Abe Roberts and Tommy Hartwell of Marcus & Millichap represented the seller, a local ownership group. The property sold to a 1031 exchange buyer.
