STANTON, TEXAS — Marcus & Millichap has brokered the sale of a 50-room hotel in Stanton, located just outside of Midland in West Texas. Built in 2015, the hotel is operated under the Super 8 by Wyndham brand and offers fitness and business centers, as well as a breakfast area. Alexander Curry and Chris Gomes of Marcus & Millichap represented the seller, Dallas-based LIG Hotels, in the transaction. Rajan Patel, also with Marcus & Millichap, represented the buyer, an undisclosed, Houston-based partnership.
SAN DIEGO — Bridgeway Real Estate Partners, in partnership with LBX Investments, has acquired Plaza Del Mar, an office campus in the Del Mar Heights submarket of San Diego, for $43 million, or $352 per square foot. Located at 12520 and 12526 High Bluff Drive, Plaza Del Mar offers 120,000 square feet of office space. Bridgeway plans to reintroduce the property to the market with an enhanced campus environment, including upgrades to the common area courtyards. Scott Peterson, Mark McGovern, Colby Matzke and Michael Kolcum of CBRE’s Debt and Structured Finance secured acquisition financing on behalf of the buyer. CBRE’s Mike Hoeck, Chris Pascale and Ellycia Walker will handle leasing for the property. Rick Reeder of Newmark represented the undisclosed seller in the transaction.
VISTA, CALIF. — RAF Pacifica Group, in partnership with CenterSquare Investment Management, has completed the disposition of an industrial building located at 3280 Corporate View in Vista. Terms of the transaction were not released. Cushman & Wakefield represented the sellers in the transaction. Rivian Automotive, an electric vehicle manufacturer, fully occupies the 59,828-square-foot property, which offers convenient access to major interstate freeways.
KENNETT, MO. — Marcus & Millichap has brokered the $7 million sale of Bootheel Plaza, a 23-suite retail strip center in Kennett, located in the southeast corner of Missouri and four miles east of Arkansas. Built in 1973, the property totals 126,193 square feet and sits directly in front of a Walmart Supercenter. Anchor tenants include Tractor Supply, Bealls and Dollar Tree. Austin Sweet, Chris Garavaglia and Alex Perez of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors.
GARNER AND CHARLOTTE, N.C. — Boston-based Rockpoint has purchased a six-building industrial portfolio across two properties in North Carolina. The nearly 280,000-square-foot acquisition includes Garner Commerce Center in the south Raleigh suburb of Garner and I-77 Commerce Center in Charlotte. Both three-building parks were recently delivered. The seller and sales price were not disclosed. Rockpoint will manage and operate Garner Commerce Center and I-77 Commerce Center in partnership with affiliate firms Rockhill Management and Rockpoint Industrial.
COVINGTON, LA. — Red Oak Capital Holdings LLC has provided an $8.4 million loan for a hotel-to-multifamily conversion project in Covington. The borrower, an investment group represented by Nebo Capital, is using the financing to purchase the former WeStay Suites hotel at 140 Holiday Blvd. and reposition it into an 87-room apartment community. The 12-month bridge loan will fund the $6.9 million acquisition and $1.8 million in planned improvements for the conversion. The five-story, 89,831-square-foot hotel was built on 2.9 acres in 2009 and features an outdoor pool, fitness center and community rooms. The borrower has completed a similar hotel-to-multifamily adaptive reuse project in the Covington area, according to Red Oak Capital. The borrower plans to refinance the bridge loan upon completion of the renovation with permanent or agency debt.
ROSWELL, GA. — Cushman & Wakefield has brokered the $7.4 million sale of The Alstead Shops, an 11,200-square-foot retail center located at 2000 Holcomb Bridge Road in Roswell. The metro Atlanta property was delivered in 2024 and was fully leased at the time of sale to tenants including Wellstar Urgent Care, CityVet, Layne’s Chicken Fingers, The Great Greek Mediterranean Grill and The Human Bean. Margaret Jones and Lane Breedlove of Cushman & Wakefield represented the sellers, Mirabeland Investments and Concordia Properties in the transaction. The buyer was Manchester Capital Management.
HOUSTON — First Community Credit Union (FCCU) has purchased Noble Energy Center Two, a 470,623-square-foot office building in northwest Houston, for its new headquarters. Built on 4.7 acres in 2020, the building will “provide the space and infrastructure needed to enhance collaboration, develop talent and deliver an elevated experience for FCCU’s more than 180,000 members,” according to FCCU. Jeff Hollinden, Kevin McConn and Max Myers of JLL represented the undisclosed seller in the transaction. Larry Cedillo of Cross Capital Realty represented FCCU.
HOUSTON — JLL has brokered the sale of 1800 Bering, a 171,510-square-foot office building in Houston’s Galleria district. The 10-story building was roughly 83 percent leased at the time of sale and offers amenities such as a micro market, tenant lounge, conference center and an outdoor patio. Kevin McConn and Marty Hogan of JLL represented the seller, California-based investment firm KBS, in the transaction. Michael Johnson and Michael King, also with JLL, arranged acquisition financing on behalf of the buyer, local private equity firm DML Capital. The new ownership has tapped Transwestern as the leasing agent.
NEW ORLEANS — Skysoar Capital Partners has purchased One Canal Place, a 32-story office tower located at 365 Canal St. in New Orleans. The sales price was not disclosed. Johnny Lamberson and Terry Radford of CBRE’s Memphis represented the seller, OCP Office Owner LLC, a partnership formed by Loeb Partners Realty LLC and Aetna. The seller has owned One Canal Place since 2002, according to Corporate Realty, which served as the Louisiana broker of record in the transaction. Corporate Realty will continue to provide property management and leasing services at the tower on behalf of One Canal Place Leasing LLC, a limited liability corporation created by Skysoar Capital. Completed in 1979 near the Mississippi River, One Canal Place encompasses 630,581 rentable square feet of office space and is part of a mixed-use complex that includes The Shops at Canal Place, The Westin New Orleans Hotel and a 1,650-space parking garage. Office tenants include law firm Baker Donelson, which recently signed a nearly 40,000-square-foot lease to occupy the top two floors, as well as Phelps Dunbar LLP; The New Orleans Passport Center; Schouest, Bamdas, Soshea & BenMaier PLLC; Foley & Judell LLP; Salley, Hite, Mercer & Resor LLC; and La Petite …