KANSAS CITY, KAN. — Block & Co. Inc. Realtors has negotiated the sale and new lease of the Village West Discount Liquors store in Kansas City. Village West Discount Liquors sold the property at 11010 Parallel Parkway and leased 8,029 square feet to new ownership. Grant Summers of Block & Co. represented the buyer, 110th and Parallel, KC Development LLC. Summers also negotiated the lease of the space to South Hills LLC, which is the new acting operator for Village West Discount Liquors. Daniel Brocato of Block & Co. represented the tenant in the lease.
WEST HAVEN, CONN. — Regional brokerage firm Northeast Private Client Group (NEPCG) has negotiated the $8.2 million sale of Crestview, a 63-unit apartment complex in West Haven, located in southern coastal Connecticut. According to Zillow.com, the property exclusively offers one-bedroom units, and residents also have access to a pool. Brad Balletto and Jeff Wright of NEPCG represented the Massachusetts-based seller and procured the Connecticut-based buyer, both of which requested anonymity, in the transaction.
NEW YORK CITY — An investment group led by asset manager BlackRock has announced a deal to acquire two ports on either end of the Panama Canal for a total of $23 billion, including $5 billion of debt. Hong Kong-based CK Hutchison Holding, a global conglomerate of ports, infrastructure and telecommunications, is the seller. The investment consortium, which is doing business as BlackRock-TiL Consortium and also includes BlackRock subsidiary Global Infrastructure Partners and Terminal Investment Limited, will purchase all of CK Hutchison Holding’s shares in Hutchison Port Holdings and Hutchison Port Group Holdings. The ports involved in the transaction include those of Balboa and Cristobal. Hutchison Ports was recently awarded a 25-year, no-bid extension to operate the ports, according to AP News. However, an audit of the extension was already underway at the time of the deal. Upon completion of the acquisition, which must be approved by Panama’s government, BlackRock will have consortium control of 43 ports across 23 countries. This news follows expressions of concern from U.S. government officials that Chinese influence could affect dealings in the canal. The United States controlled the Panama Canal, as well as surrounding land called the “canal zone,” between 1903 and 1999. The canal took …
RICHMOND, VA. — The City of Richmond’s Economic Development Authority (EDA) has sold and transferred an 18-acre parcel to the developer of Diamond District, a $2.4 billion mixed-use development in the Virginia state capital. The developer, an entity led by Thalhimer Realty Partners Inc. called Diamond District Partners LLC, will soon begin construction on public works infrastructure and a mixed-use development on the site. The parcel, called Phase 1A, will include six acres of public infrastructure that will be conveyed back to the city and the EDA upon completion. The remainder of the parcel will house a 180-room hotel, 161 workforce housing units that will be reserved for households earning 60 percent of the area median income, 730 market-rate apartments and 30,000 square feet of commercial space that can be expanded. The land sold for $11.4 million. Phase 1B and Phase 1C of Diamond District will include an additional 177 affordable housing units, 625 market-rate apartments and 126,000 square feet of commercial space. Additionally, CarMax Park, the future home of the Richmond Flying Squirrels Minor League Baseball team, is under construction within the Diamond District and is scheduled to open in 2026. Diamond District Partners LLC anticipates breaking ground on …
INDIAN TRAIL, N.C. — Berkadia has negotiated the sale of a 28.2-acre multifamily development site in Indian Trail, a southeast suburb of Charlotte. Caleb Troop and Thomas Colaiezzi of Berkadia’s Charlotte office led the transaction on behalf of the seller, High Point, N.C.-based Royal Management. The buyer, a partnership between locally based The Spectrum Cos. and Chicago-based Heitman LLC, plans to develop a 320-unit apartment community on the site called Evoke at Indian Trail. TD Bank is providing construction financing for the project, which is located adjacent to The Shops at Sun Valley and across the street from a Publix-anchored shopping center. The construction timeline was not released.
KNOXVILLE, TENN. — Sila Realty Trust Inc., a publicly traded healthcare REIT based in Tampa, has purchased an inpatient rehabilitation facility in Knoxville for $35.1 million. The seller was not disclosed. The property is Sila Realty Trust’s first acquisition in Tennessee. Built in 2021 within the 109-acre Tennova Health Park, the 70,000-square-foot property was fully leased at the time of sale to Knoxville Rehabilitation Hospital LLC, which is a joint venture between the University of Tennessee Medical Center, Lifepoint Health and Tennova Healthcare, an affiliate of Community Health Systems.
BATON ROUGE, LA. — TruCore Investments has acquired an 81,589-square-foot industrial facility located at 10781 Cousey Court in Baton Rouge. Situated on 10.8 acres, the Class B property was fully leased at the time of sale to FedEx, which has occupied the facility since its delivery in 1998. Alex Ruch of Elifin Realty brokered the transaction. The seller was not disclosed.
LATHAM, N.Y. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of $26.9 million sale of a 120,049-square-foot, grocery-anchored shopping center in Latham, located north of Albany. The center was built in 2010 and is home to tenants such as Petco and Crumbl Cookies in addition to grocery anchor The Fresh Market. Jim Koury of IPA represented the seller, Shaker Loudon Associates, which is an affiliate of Benderson Development, in the transaction. Koury also procured the buyer, an entity doing business as PCP Binghamton Associates LLC.
YARMOUTH, MASS. — Regional brokerage firm Atlantic Capital Partners has negotiated the sale of Yarmouth Shopping Center, a 59,687-square-foot retail property located near the base of Cape Cod. Grocer Stop & Shop anchors the center. Justin Smith, Chris Peterson, Sam Koonce, Danielle Donovan and Matt Austin of Atlantic Capital Partners represented the seller and procured the buyer, both of which requested anonymity, in the transaction. The property traded in conjunction with a 124,405-square-foot center in Stow, Mass., for a combined price of $26 million.
LEHI, UTAH — Fort Street Partners has partnered with Cumming Capital Management to acquire Lehi Spectrum I and II, two Class A tech office properties in Lehi’s Silicon Slopes district. Terms of the transaction were not released. Built in 2018 and 2020, the buildings offer approximately 265,000 square feet of combined space. Onsite amenities at Lehi Spectrum include pickleball courts, a daycare, gym, locker rooms with showers, an open space auditorium and food services. Bryce Blanchard of Newmark, along with Woodley Real Estate, represented the undisclosed seller in the deal.