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Acquisitions

Valwood-Industrial-Portfolio-Dallas
AcquisitionsIndustrialTexas

Cushman & Wakefield Brokers Sale of 254,105 SF Industrial Portfolio in North Dallas

by Taylor Williams

DALLAS — Cushman & Wakefield has brokered the sale of the Valwood Industrial Portfolio, a collection of three buildings totaling 254,105 square feet in North Dallas. Built in 2001, the portfolio’s buildings feature rear-load configurations and 24-foot clear heights. Jim Carpenter, Jud Clements, Robby Rieke, Emily Brandt and Trevor Berry of Cushman & Wakefield represented the seller, California-based Cohen Asset Management, in the transaction. The buyer was a fund backed by Ares Real Estate. The portfolio was fully leased to seven tenants at the time of sale.

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Southwest-Bay-Project-LV-NV
AcquisitionsDevelopmentIndustrialNevadaWestern

IndiCap Acquires Site for 70,405 SF Industrial Development in Southwest Las Vegas

by Amy Works

LAS VEGAS — IndiCap has acquired land in southwest Las Vegas for the development of Southwest Bay, a Class A infill industrial project. The site spans 3.8 net acres of usable land, not including street rights-of-way, and the 70,405-square-foot property will offer shallow-, small- and mid-bay industrial space with flexible suite configurations. Current plans call for suite configurations beginning at approximately 17,600 square feet, with the ability to accommodate full-building users. Located at the southwest corner of Russell Road and Edmond Street, Southwest Bay will feature concrete tilt-up construction with 28-foot clear heights, ESFR fire sprinklers, dock-high and grade-level loading, electrical capacity and flexible demising options. Sitework is slated to begin in April 2027, followed by vertical construction in May 2027. Southwest Bay is scheduled for delivery in February 2028, with preleasing available before completion. The project team includes Lee & Sakahara Architects as architect and structural engineer, Per4mance Engineering as civil engineer and NDL Group as general contractor. Greg Tassi and Donna Alderson of Cushman & Wakefield are handling leasing for the project. First American provided title services for the project.

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202-Merchant-St-Honolulu-HI
AcquisitionsHawaiiOfficeRestaurantRetailWestern

ESC Pacific Buys Historic Joseph W. Podmore Building in Honolulu for U.S. Headquarters

by Amy Works

HONOLULU — ESC Pacific, an international architecture, engineering and environmental consulting firm with operations in Japan, Guam and the United States, has purchased the historic Joseph W. Podmore Building at 202 Merchant St. in Honolulu in an off-market transaction. Constructed in 1902 from Hawaiian blue-gray basalt and listed on the National Register of Historic Places since 1983, the two-story Podmore Building features 4,638 square feet. ECS will occupy the building’s second floor as its U.S. base, while the ground floor will continue its longstanding restaurant use. Matthew McKeever of CBRE Hawaii Capital Markets represented the buyer in the transaction, terms of which were not released.

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AcquisitionsIndustrialLee & AssociatesTexas

Lee & Associates Negotiates Sale of 24,825 SF Industrial Property in Northwest Houston

by Taylor Williams

HOUSTON — Lee & Associates has negotiated the sale of a 24,825-square-foot industrial property in northwest Houston. The two-building complex at 2216 Pech Road was constructed in 1980 and includes 4,600 square feet of office space. Richard Glass and Conrad Chambers of Lee & Associates represented the seller, All-Tex Erection Systems Inc., in the transaction. The buyer was Russell and Sons Holding Co.

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AcquisitionsData CentersDevelopmentIndustrialNorth CarolinaSoutheast

WhiteFiber Agrees to Buy Two Industrial Facilities in North Carolina, Plans Data Center Conversions

by John Nelson

YADKIN COUNTY, N.C. — WhiteFiber Inc., a data center owner-operator and cloud solutions provider, has agreed to acquire two industrial facilities in Yadkin County, situated near Winston-Salem at the foothills of the Blue Ridge Mountains. WhiteFiber is acquiring the properties via its wholly owned subsidiary Enovum Data Centers Corp. with plans to retrofit both properties into data centers. The agreed purchase price was $60 million for both sites. The two facilities, which will be renamed NC-2 and NC-3, sit approximately 55 miles from NC-1, WhiteFiber’s existing data center campus in Madison, N.C. NC-2 and NC-3 are expected to provide a combined minimum of 60 megawatts (MW) of initial gross utility capacity with the potential to support up to 200 MW of combined utility capacity over time. WhiteFiber expects to close the transaction in the fourth quarter and bring the properties on line in third-quarter 2027.

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AcquisitionsMississippiSoutheastStudent Housing

Landmark Properties Acquires 642-Bed Student Housing Community Near University of Mississippi

by John Nelson

OXFORD, MISS. — Landmark Properties has acquired The Domain at Oxford, a 642-bed student housing community located at 2002 Oxford Way near the University of Mississippi campus in Oxford. The property was acquired in partnership with Liberty Mutual Investments and Peninsula Investments. Walker & Dunlop brokered the acquisition, and TSB Capital assisted with financing. The seller and terms of the transaction were not released. Built in 2016, the community offer 216 fully furnished units in a mix of one-, two- and four-bedroom configurations with bed-to-bath parity. Shared amenities include a clubhouse, fitness center, golf simulator, resort-style pool, recreational green space, basketball and sand volleyball courts, study rooms and a screening theater. The property also offers parking for 756 vehicles.

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AcquisitionsFloridaHealthcareSoutheast

Transwestern Arranges $65M Sale of Medical Outpatient Building in Downtown Jacksonville

by John Nelson

JACKSONVILLE, FLA. — Transwestern has arranged the $65 million sale of Southbank Medical Pavilion, a 493,012-square-foot medical outpatient building located at 841 Prudential Drive in downtown Jacksonville. The buyer, Baptist Health, operates its flagship hospital campus adjacent to the 22-story property. Steve Leathers, Bill Boyd, Seth Gilford, Jake Jordan, Angela Heidman and Max Hastings of Transwestern represented the seller, Alpharetta, Ga.-based ShareMD, in the transaction. Situated on 7.9 acres along the south bank of the St. Johns River, Southbank Medical Pavilion was 94 percent leased at the time of sale.

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AcquisitionsAlabamaRetailSoutheast

Prudent Growth Purchases Retail Strip Center in Montgomery for $3.7M

by John Nelson

MONTGOMERY, ALA. — Chapel Hill, N.C.-based Prudent Growth Partners LLC has purchased Somerset Shoppes, a 27,250-square-foot strip retail center located at 7730 Atlanta Highway in Montgomery. The seller was not disclosed. Built in 2003, Somerset Shoppes was 85 percent leased at the time of sale to nine tenants, including Martha’s Place, Latitudes Salon & Spa, Body Serene Nails & Spa, J&T Acupressure and Southern Muscle & Fitness.

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The Pavilion-Long-Branch-New-Jersey
AcquisitionsMultifamilyNew JerseyNortheast

ICON Real Estate Arranges $18M Sale of Apartment Building in Long Branch, New Jersey

by Taylor Williams

LONG BRANCH, N.J. — Local brokerage firm ICON Real Estate Advisors has arranged the $18 million sale of The Pavilion, a 46-unit apartment building in the Northern New Jersey community of Long Branch. The five-story building was completed in 2021. According to RentCafé, units comes in one-, two- and three-bedroom floor plans, and amenities include a courtyard and outdoor grilling and dining stations. The seller and developer, Jebara Partners, sold The Pavilion to Henshaw Realty, which acquired the property via a 1031 exchange. ICON represented both parties in the transaction.

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AcquisitionsNew JerseyNortheastRetail

Marcus & Millichap Brokers $9.5M Sale of Northern New Jersey Retail Building

by Taylor Williams

WEST NEW YORK, N.J. — Marcus & Millichap has brokered the $9.5 million sale of Coviello Plaza, a three-story, 27,100-square-foot retail building in West New York, located across the Hudson River from Manhattan. CVS anchors Coviello Plaza, which was originally built in 1988 and houses 11 units. Devin Perez, Alan Cafiero and Brent Hyldahl of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

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