LAREDO, TEXAS — Houston-based investment firm Triten Real Estate Partners has purchased a 30,462-square-foot industrial building in the Rio Grande Valley city of Laredo. The site at 12125 Jef Drive spans 9.6 acres within Killiam Industrial Park and offers proximity to the World Trade Bridge and I-35. Triten acquired the building via a sale-leaseback with an undisclosed owner-occupier.
WEST COLUMBIA, S.C. — Trinity Partners has brokered the sale of a 28,000-square-foot industrial facility located at 971 Harbor Drive in West Columbia. Nick Stomski, Jake Nidiffer and Ryan Causey of Trinity Partners represented the undisclosed buyer in the transaction. The seller and sales price were not disclosed. The Class B facility has been fully occupied by publicly traded HVAC firm Trane Technologies since 2019. The property includes frontage along I-26.
MONROEVILLE, PA. — CBL Properties, a shopping center REIT based in Tennessee, has sold Monroeville Mall, a 1.2 million-square-foot, 186-acre regional shopping and dining destination located roughly 20 miles east of Pittsburgh. According to the Pittsburgh Post-Gazette, the buyer was Walmart. The sales price was $34 million. Macy’s, Dick’s Sporting Goods and JCPenney anchor Monroeville Mall, which is also home to tenants such as Barnes & Noble, Cinemark Theatres, Guitar Center and Best Buy. Dallas-based Cypress Equities will manage and lead redevelopment efforts for the property on behalf of Walmart. JLL represented CBL in the transaction, and Tom Flynn of CBRE represented Walmart.
LANGHORNE, PA. — Florida-based investment firm ESJ Capital Partners has purchased a portfolio of nine medical office buildings totaling 152,310 square feet in Langhorne, located northeast of Philadelphia, for $16 million. The portfolio was roughly 70 percent leased at the time of sale to tenants such as Quest Diagnostics, DaVita, LabCorp and the American Red Cross. The new ownership plans to invest in capital improvements across the portfolio, including upgrading HVAC systems, adding new roofing, updating wayfinding signage and modernizing vacant spaces. Michael Margolis, David Dolan and Angelo Brutico of Newmark represented the seller, SkyREM, in the transaction.
NORTH ANDOVER, MASS. — Marcus & Millichap has brokered the $4.8 million sale of a 30,855-square-foot industrial flex building located outside of Boston in North Andover. Completed in 1997, the building at 45 Beechwood Drive features 11,500 square feet of office space and 19,355 square feet of warehouse space, as well as two loading docks, one drive-in bay and a clear height of 14 feet. Mattias Edenkrans, Harrison Klein and Luigi Lessa of Marcus & Millichap represented the seller and procured the buyer, both of which were private entities that requested anonymity, in the transaction..
PARKER, COLO. — An affiliate of Meridian Senior Living (Meridian) has acquired Pine Grove Crossing, a seniors housing property in Parker, from a real estate private equity group for an undisclosed price. Meridian will manage the community on behalf of an institutional investor. Completed in 2018, Pine Grove Crossing offers 100 assisted living and 27 memory care units in a three-story building. The community offers weekly shuttle bus excursions, a private transport services for appointments, beauty salon and barbershop, gym with daily fitness classes, library and outdoor patio space. Additionally, the property includes all-day, full-service dining and an onsite bistro for coffee and pastries. At the time of sale, Pine Grove Crossing was 90 percent occupied. The property is situated on 4.4 acres at 19160 Cottonwood Drive. JLL Capital Markets Seniors Housing team represented the seller in the deal.
WOODRIDGE, ILL. — Red Mountain Group Inc. has acquired Woodridge Plaza, a 50,809-square-foot neighborhood retail center in the Chicago suburb of Woodridge. The purchase price was undisclosed. Anchor tenants include Walgreens, Dunkin’ and Anytime Fitness, which is opening soon. There is also a 7-Eleven gas station. Red Mountain Group plans to make immediate improvements to enhance the property’s aesthetic appeal and functionality.
ALSIP, ILL. — Quantum Real Estate Advisors Inc. has negotiated the sale of a roughly 43,000-square-foot flex industrial property in Alsip for an undisclosed price. Located at 4800-4824 129th St., the property was fully leased to a mix of local tenants at the time of sale. Dan Waszak of Quantum represented the buyer, a Cincinnati-based investor. Joseph Coombes of Market Commercial Real Estate represented the seller, an Indianapolis-based group.
SAN BERNARDINO, CALIF. — Progressive Real Estate Partners has arranged the $6.8 million sale of a multi-tenant commercial flex center located at 165 E. Hospitality Lane in San Bernardino. The 44,290-square-foot property comprises two buildings with suites ranging in size from 950 square feet to 1,930 square feet. Originally built in 1980, the recently renovated center was 93 percent leased at the time of sale to 24 tenants, including retail, restaurant, healthcare, education, fitness, finance and office businesses. Situated in the Tri-City Commons/Hospitality Lane District, the center is part of a larger Inland Empire commercial hub totaling more than 4.4 million square feet of office, industrial, retail and hospitality space. Greg Bedell and Lance Mordachini of Progressive represented the Los Angeles-based seller in the transaction. The undisclosed buyer was an Orange County-based private investor.
TORRANCE, CALIF. — Hanley Investment Group has arranged the $5.9 million sale of a newly constructed, single-tenant property in Torrance, a city in the South Bay area of Los Angeles. Chipotle Mexican Grill occupies the building — which totals 3,570 square feet — on a 15-year, corporate guaranteed, triple-net lease. Bill Asher, Jeff Lefko and Sean Cox of Hanley represented the buyer, a Los Angeles-based private investor, in the all-cash transaction. Christopher Huddleston of The Sher Group represented the seller, a Los Angeles-based private investor.