NEW YORK CITY — Nashville-based brokerage firm Matthews has negotiated the $15.2 million sale of a 19,873-square-foot mixed-use building in Lower Manhattan. The five-story building at 158 Lafayette St., which was originally constructed in 1915 and renovated in 2017, was vacant at the time of sale and is zoned to support residential redevelopment. Stephen Dadourian, Brock Emmetsberger and Matthew Gavin of Matthews represented the undisclosed seller in the transaction. The buyer was also not disclosed.
WAUSAU, WIS. — Marcus & Millichap has brokered the $15 million sale of The Apartments at Riverlife, a 75-unit multifamily property in central Wisconsin’s Wausau. Dan Bowar of Marcus & Millichap represented the seller, Riverlife Wausau LLC, and procured the buyer, a Wisconsin-based investor. Built in 2020, the property features a mix of one-, two- and three-bedroom units across 72,177 rentable square feet. The asset overlooks the Wisconsin River.
AUBURN, WASH. — Intercontinental Real Estate Corp. has acquired Lakeland Town Center, a 125,233-square-foot, grocery-anchored retail center located approximately 20 miles south of Seattle in Auburn, for $69.5 million. Built in 2002, Lakeland Town Center is situated on 12.6 acres within the Lakeland Hills master-planned community. The property was fully leased at the time of sale. Tenants include Haggen Northwest Fresh, Subway, HopsnDrops, Rock Wood Fired Pizza, Puerto Vallarta Mexican, Sushi Konami, Ichi Teriyaki, Legendary Doughnuts, Nekter Juice Bar, Menchie’s Frozen Yogurt, Pacific Cataract and Laser Institute, Gentle Dental, Outpatient Physical Therapy, Edward Jones, McDonald’s, Wells Fargo, The UPS Store, Orangetheory Fitness and Club Pilates. Intercontinental plans to execute a capital improvement program focused on roof replacement and as-needed upgrades for tenants, alongside the implementation of a leasing strategy centered on preserving and strengthening the center’s tenant mix. Geoff Tranchina, Gleb Lvovich, Dan Tyner and Tess Berghoff of JLL Capital Markets marketed the property on behalf of the seller.
CASTRO VALLEY, CALIF. — Berkadia has arranged the $35.5 million sale of The Cedars and Creekside Terrace, two neighboring, value-add multifamily properties located in the Northern California city of Castro Valley. Felson Cos., the original developer, sold the assets to San Francisco-based Prime Residential for $21.4 million and $14.1 million, respectively. Jason Parr, Scott MacDonald and John Hansen of Berkadia San Francisco represented the seller in the deal, while Clay Akiwenzie and Hank Workman of Berkadia San Francisco provided financing for the buyer. The financing consists of a seven-year, fixed-rate Freddie Mac loan with full-term interest-only payments. Located at 22240-22302 Center St., The Cedars features 83 one-, two- and three-bedroom apartments, two pools, an outdoor courtyard, fitness center and covered parking. Creekside Terrace, located at 22180 Center St., offers 52 one-, two- and three-bedroom floor plans, as well as a pool, dry sauna, outdoor courtyard, a fitness center and covered parking.
NAMPA, IDAHO — Chicago-based Brennan Investment Group has acquired a three-building, 439,600-square-foot industrial portfolio in Nampa, located just west of Boise. Details of the transaction were not released. This purchase marks Brennan’s entry into the Boise industrial market. Completed in 2023, the tilt-up industrial buildings were fully leased at the time of sale and feature 32-foot clear heights, ESFR sprinkler systems and truck courts exceeding 130 feet.
SAN DIEGO COUNTY, CALIF. — Marcus & Millichap has brokered the sale of a seven-building memory care campus in San Diego County. Developed in 2002, the property contains more than 55 units licensed for over 85 residents. The community was operating with negative net operating income (NOI) at the time of sale. Nick Stahler, Justin Knapp, Michael Mooney and Hap Knowles of Marcus & Millichap’s Knapp-Stahler Group arranged the transaction. An undisclosed, all-cash buyer acquired the community from a publicly traded REIT for roughly $170,000 per unit.
HUTCHINS, TEXAS — Provident Industrial, a division of Dallas-based investment firm Provident, has purchased Commerce 45, a two-building, 1.5 million-square-foot industrial park in Hutchins, a southeastern suburb of Dallas. The park was constructed on 81 acres in 2015, and the buildings feature 32-foot clear heights, 185-foot truck court depths and parking for 102 cars and 290 trailers. The seller and sales price were not disclosed, but Commerce 45 is listed on the website of New York-based Brookfield Properties.
IRVING, TEXAS — JLL has arranged a $40.9 million acquisition loan for Allura Las Colinas, a 288-unit apartment complex in Irving. Built in 2003, the property features one-, two- and three-bedroom units and amenities such as a pool, fitness center, clubhouse, dog park and outdoor grilling and dining stations. Aldon Cole, Tony Nargi, Jacob Martin and Caden Cramer of JLL arranged the nonrecourse, fixed-rate loan through an undisclosed life insurance company on behalf of the borrower, Brixton Capital. Greg Toro and Caroline Novak, also with JLL, represented the undisclosed seller in the sale of the property.
SAN ANTONIO — Local developer Koontz Corp. has sold two industrial buildings totaling 187,200 square feet in San Antonio. Built on 17 acres in 2023, the rear-load buildings comprise Phase I of Westport Industrial Park, a 374,400-square-foot development on the city’s northwest side. The buyer was Nuveen Real Estate. JLL brokered the sale. At the time of sale, the buildings were 79 percent leased on average to tenants such as Primo Brands, Farsound Aviation, Southern Glazer’s Wine & Spirits and office furniture company Texas Wilson.
LA MARQUE, TEXAS —Partners Real Estate has brokered the sale of a 43,000-square-foot industrial building in La Marque, a southeastern suburb of Houston. According to LoopNet Inc., the single-tenant building at 4725 Lawndale St. was constructed in 1978 and features 20-foot clear heights. Wyatt Huff of Partners represented the seller in the transaction, and Hunter Stockard, also with Partners, represented the buyer. Both parties requested anonymity.