ARLINGTON, TEXAS — Cushman & Wakefield has negotiated the sale of Cooper Oaks Crossing, a 86,766-square-foot shopping center in Arlington. The center sits on an 11-acre site and was 96 percent leased at the time of sale to tenants such as Planet Fitness and Red White & Blue Thrift Store. Kris Von Hohn of Cushman & Wakefield represented the seller, Houston-based Serac Capital Partners, in the transaction. The buyer was an entity doing business as Ledbetter Holdings LLC.
SCOTTSDALE, ARIZ. — CBRE has brokered the sale of Scottsdale Executive Square, an office property located at 13951 N. Scottsdale Road in Scottsdale. A Southern California-based private buyer acquired the asset from an undisclosed seller for $4.8 million. Built in 1993, the two-story, 29,806-square-foot Scottsdale Executive Square was 98.1 percent leased at the time of sale to 19 local and regional office and medical tenants. Geoffrey Turbow and Philip Wurth of CBRE represented the seller in the deal.
ARCADIA, CALIF. — DAUM Commercial Real Estate Services has arranged the purchase of a 5,000-square-foot restaurant space in Arcadia. Dream1212 LLC, the owner of Mama Lu’s Dumpling House, acquired the property from an undisclosed seller for $4 million. The traditional Chinese restaurant occupies the restaurant space at 1212 S. Baldwin Ave. The Arcadia property serves as Mama Lu’s sixth location. Rudy Lara, Nick Peukpiboon, Nathan Lara and Andrew Lara of DAUM represented the buyer in the deal.
MANSFIELD, TEXAS — Locally based brokerage firm STRIVE has arranged the sale of Village at Broad II, a 17,112-square-foot retail strip center in Mansfield, a southern suburb of Fort Worth. The center was fully leased at the time of sale to tenants such as The Mill breakfast restaurant, TeaLatte Bar, SugaringNYC and fitness concept F45 Training. Hudson Lambert of STRIVE represented the locally based seller and procured the Nebraska-based buyer in the transaction. Both parties requested anonymity.
CHICAGO — Westmount Realty Capital has acquired a nine-building industrial portfolio in metro Chicago for an undisclosed price. Called the Chicago Shallow-Bay portfolio, the buildings total 390,781 square feet and are located in four submarkets. At the time of sale, the portfolio was 91 percent leased to 37 tenants spanning 28 industries, including office, medical and automotive suppliers, and home restoration. Kurt Sarbaugh and Sean Devaney of JLL represented the seller, Unilev Capital and its partner, a Palladius Capital Management affiliate, Mandalay Industrial. Jeff Sause and Brian Walsh of JLL supported financing for the transaction.
COON RAPIDS, MINN. — Marcus & Millichap has arranged the $7.3 million sale of Crest Oak Apartments in Coon Rapids, a northern suburb of Minneapolis. The 60-unit multifamily property, built in 1972, features a mix of one-, two- and three-bedroom floor plans across 47,150 rentable square feet. Abe Roberts and Michael Jacobs of Marcus & Millichap represented the seller, which was disposing of a four-building portfolio. The asset sold to a 1031 exchange buyer.
SOUTH PLAINFIELD, N.J. — NAI James E. Hanson has brokered the $33.5 million sale of an 8.8-acre industrial outdoor storage (IOS) site in South Plainfield, about 35 miles southwest of New York City. The site at 115 St. Nicholas Ave./115 Skyline Drive is located just off Exit 5 on I-287. Scott Perkins, Christopher Todd and William Ericksen of NAI Hanson represented the buyer, a partnership between Boston-based investment firm Oliver Street Capital and Bain Capital Real Estate, in the transaction. The seller was Trans American Trucking Services. Jon Mikula, Jim Cadranell, John Cumming and Christian Badalamenti of JLL arranged $22.3 million in acquisition financing for the deal through Byline Bank.
LEBANON, TENN. —Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $52 million sale of Stonehenge, a 228-unit multifamily property in Lebanon, roughly 20 miles east of downtown Nashville. Completed in 2023, the property is situated on 13 acres and offers units ranging in size from one- to three-bedrooms. Amenities include a saltwater swimming pool, clubhouse, fitness center and an entertainment lounge. David Stollenwerk, Will Balthrope and Drew Garza of IPA represented the seller and secured the buyer in the transaction. The buyer and seller were not disclosed. Brian Eisendrath, Cameron Chalfant and Jake Vitta of IPA Capital Markets arranged acquisition financing for the buyer. Jody McKibben served as Marcus & Millichap’s broker of record in Tennessee for the deal.
MOBILE, ALA. — JLL Capital Markets has arranged the sale of Mobile Portside, a two-building industrial property totaling 373,015 square feet in Mobile. The two facilities were fully leased at the time of sale and feature 32- to 36-foot clear heights, 180- to 185-foot truck courts, ESFR sprinkler systems and dock doors. Jim Freeman, Britton Burdette and Dennis Mitchell of JLL represented the seller, Burton Property Group, in the transaction. One Liberty Properties Inc. was the buyer. The sales price was not disclosed. Built in 2023, Mobile Portside comprises Buildings D and N and is situated within the South Alabama Logistics Park, the largest master-planned industrial development between Texas and Georgia. The property offers access to the Port of Mobile and spans more than 1,000 developable acres. Upon completion, the park will offer approximately 11.1 million square feet of industrial space.
TEMPLE TERRACE, FLA. — SRS Real Estate Partners has brokered the $4 million sale of Telecom Village, a 6,323-square-foot, multi-tenant retail property in the Tampa suburb of Temple Terrace. At the time of sale, the property was fully occupied by four tenants: Foxtail Coffee Co., Zoom Tan, Hummus Republic and Barberitos. Located at 7021 E. Fletcher Ave., the asset sits on roughly 1.1 acres. Patrick Nutt and William Wamble of SRS represented the seller, a Florida-based private investor, in the transaction. The buyer was a Tampa-based private investor who purchased the property at a 6.2 percent cap rate. Both parties requested anonymity.