Acquisitions

Marquette Cos. Acquires 400-Unit Apartment Community in Suburban Chicago

by Kristin Harlow December 11, 2024

ST. CHARLES, ILL. — Marquette Cos. has acquired Ascend St. Charles, a 400-unit apartment community in the western Chicago suburb of St. Charles. The seller and sales price were undisclosed. Located at 100 Lakeside Drive, the property offers a mix of one-, two- and three-bedroom units with monthly rents starting around $1,600. Amenities include a 4,838-square-foot clubhouse that was recently renovated and includes remote workspaces, an upgraded fitness center, a residents’ lounge and game room, swimming pool and sundeck. Marquette plans to reposition the property by renovating residences with modern finishes and adding upgrades to the clubhouse and amenities.

December 11, 2024

Acquisitions Development Retail South Carolina Southeast

Madison Commercial Completes, Sells 9,543 SF Retail Property in Metro Charlotte

by John Nelson December 11, 2024

ROCK HILL, S.C. — Madison Commercial, an affiliate of Madison Capital Group, has completed and sold Phase II of its retail property in Rock Hill, a South Carolina suburb of Charlotte. The 9,543-square-foot building is fully leased to national tenants including Deca Dental, First Watch, Panda Express and Tropical Smoothie Café. Atlantic Retail brokered the sale. The buyer and sales price were not disclosed. The project team for Phase II included architect Redline Design and general contractor Doerre Construction. Phase I of the development began with Madison Capital affiliate, Go Store It Self Storage, transforming a big-box retail building on the back lot of the 3.6-acre site into a self-storage facility totaling 850 units. Phase I also included a retail building occupied by Chipotle, Wing Stop and My Eye Lab that previously sold.

December 11, 2024

Acquisitions Loans Mississippi Retail Southeast

MMCC Arranges $3.5M Acquisition Loan for Shopping Center in Clinton, Mississippi

by John Nelson December 11, 2024

CLINTON, MISS. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $3.5 million acquisition loan for Clinton Plaza, a 97,000-square-foot shopping center located at 200 Clinton Blvd. in Clinton, about 12 miles west of Jackson. The tenant roster includes Big Lots, Family Dollar and Beauty Zone. David Johnson of MMCC’s Atlanta office arranged the loan through CRE Bridge Equity on behalf of the undisclosed borrower. The seller and sales price for Clinton Plaza was not disclosed.

December 11, 2024

Acquisitions Northeast Pennsylvania Retail

CBRE Brokers Sale of 103,325 SF Retail Center Near Philadelphia

by Taylor Williams December 11, 2024

NORTH WALES, PA. — CBRE has brokered sale of The Shoppes at English Village, a 103,325-square-foot retail center in North Wales, about 25 miles north of Philadelphia. Trader Joe’s anchors the property, which was 95 percent leased at the time of sale. Other tenants include LensCrafters, Athleta, CycleBar, Hallmark, Chopt and Talbots. Chris Munley, Colin Behr, Ryan Sciullo, Casey Benson Smith, R.J. Mirabile and Michael Pascavis of CBRE represented the seller, MetLife Investment Management, in the transaction. Adam Spengler and Tom Traynor, also with CBRE, arranged acquisition financing on behalf of the buyer, Nuveen Real Estate.

December 11, 2024

Acquisitions Hospitality Southeast Tennessee

Marcus & Millichap Brokers Sale of Historic Hotel in Downtown Memphis

by John Nelson December 10, 2024

MEMPHIS, TENN. — Marcus & Millichap has brokered the sale of Hu. Hotel, a 110-room hotel in downtown Memphis. Built in 1905 and located at 79 Madison Ave., the former Tennessee Trust building has been listed on the National Register of Historic Places since 1982, after which it was converted into a luxury boutique hotel in 2002. The hotel is steps from the Mississippi River, Beale Street and FedExForum Arena, and features a rooftop bar, meeting spaces and a fitness center. Mitchell Presas, Skyler Cooper, Chris Gomes and Allan Miller of Marcus & Millichap’s Miller-Gomes Hotel Team represented the local private buyer, Nick Patel. Jody McKibben served as Marcus & Millichap’s broker of record in Tennessee in the transaction.

December 10, 2024

Acquisitions Office Texas

JLL Brokers Sale of 327,404 SF Office Building in Houston’s Energy Corridor

by Taylor Williams December 10, 2024

HOUSTON — JLL has brokered the sale of Energy Crossing II, a 327,404-square-foot office building located in the Energy Corridor area of West Houston. The building was constructed on a 5.5-acre site in 2014 and includes a fitness center. Kevin McConn and Rick Goings of JLL represented the undisclosed seller in the transaction and procured the buyer, Austin-based Capital Commercial Investments. Energy Crossing II was 30 percent occupied at the time of sale.

December 10, 2024

1551-S-Renaissance-Towne-Dr-Bountiful-UT

Acquisitions Healthcare Utah Western

Cypress West, TPG Angelo Gordon Buy 112,192 SF Renaissance Medical Center in Metro Salt Lake City

by Amy Works December 10, 2024

BOUNTIFUL, UTAH — Cypress West Partners, in joint venture with TPG Angelo Gordon, has acquired Renaissance Medical Center, a medical outpatient building in Bountiful, about four miles north of Salt Lake City. Terms of the transaction were not released. Mountain West Surgical Center, a multi-specialty ambulatory surgical center owned by HCA Healthcare, anchors the 112,192-square-foot property that is located at 1551 S. Renaissance Towne Drive. Eight other medical specialties and services, including orthopedics, physical therapy, imaging, spine and urology, also occupy the property. Newmark Healthcare Capital Markets advised Cypress West Partners and arranged the credit facility on behalf of the joint venture.

December 10, 2024

Acquisitions Arizona Industrial Western

SENTRE Acquires 322,070 SF Industrial Property in Tolleson, Arizona from Brennan Investment Group

by Amy Works December 10, 2024

TOLLESON, ARIZ. — San Diego-based SENTRE has purchased a freestanding industrial asset located at 7980-7990 W. Buckeye Road in Tolleson, approximately 12 miles west of Phoenix. Chicago-based Brennan Investment Group sold the property for $48.8 million. Situated on more than 15 acres, the 322,070-square-foot facility was originally built in 1988 and expanded in 2010. The asset features a clear height of 35 feet, ample loading and heavy power. Phil Haenel, Will Strong, Foster Bundy and Katie Repine of Cushman & Wakefield’s Private Capital Group represented the seller in the transaction.

December 10, 2024

Acquisitions California Industrial Western

Peregrine Realty Partners Sells Two Industrial Parks in Carlsbad, California for $34.2M

by Amy Works December 10, 2024

CARLSBAD, CALIF. — West Coast-based Peregrine Realty Partners has completed the disposition of Carlsbad Oaks Commerce Center and El Fuerte Business Park, a pair of multi-tenant industrial business parks in Carlsbad. Irvine, Calif.-based CIP Real Estate acquired the portfolio for $34.2 million. Situated on a combined 9.3 acres, the seven-building, 126,964-square-foot portfolio is currently 98 percent leased to approximately 60 tenants. Built in 1990 at 5931-5933 Sea Lion Place, Carlsbad Commerce Center consists of two buildings totaling 48,638 square feet on 3.7 acres and is currently fully leased to 21 tenants. Built in 1989-1990, El Fuerte Business Park consists of five buildings totaling 78,326 square feet on 5.6 acres. Located at 2788, 2790, 2792, 2794 and 2796 Loker Ave. W, El Fuerte Business Park is fully leased to 39 tenants. Bryce Aberg, Louay Alsadek, Maddie Mawby, Charlie Jacobs and Ryan Demarest of Cushman & Wakefield represented the seller in the transaction. Conor Boyle, Joe Crotty, Tyler Stemley and Brant Aberg of Cushman & Wakefield provided local market advisory.

December 10, 2024

Acquisitions Industrial Nevada Western

Avison Young Negotiates $12.5M Sale of Edmond Russell Triangle Industrial Facility in Las Vegas

by Amy Works December 10, 2024

LAS VEGAS — Avison Young has arranged the purchase of Edmond Russell Triangle, an industrial property in Las Vegas. A California-based private investor acquired the asset from a local development group for $12.5 million, or $249.50 per square foot, in an off-market transaction. Loomis U.S. fully occupies the 50,100-square-foot building, which is located at 5780 Edmond St. Chris Lexis, James Griffis and Joe Leavitt of Avison Young represented the buyer in the transaction.

December 10, 2024

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