RICHARDSON, TEXAS — Regional investment firm JAH Realty has acquired Richardson Heights, a 201,433-square-foot shopping center located on the northeastern outskirts of Dallas. Built in the 1950s, the center was 79 percent leased at the time of sale to tenants such as Alamo Drafthouse Cinema, T.J. Maxx and Half Price Books. Adam Howells, Chris Gerard, Ben Esterer and Keenan Ryan of JLL represented the seller, Silver Star Properties REIT, in the transaction. The sales price was not disclosed.
TOMBALL, TEXAS — Colliers has arranged the sale of a 48,500-square-foot industrial building in the northwestern Houston suburb of Tomball. The building sits on 7.3 acres at 915 S. Cherry St. and, according to LoopNet Inc., was originally constructed in 1974 and renovated in 2014. Tom Condon Jr. of Colliers represented the seller, an entity doing business as JPL Ventures South Cherry LLC, in the transaction. The buyer, Dixon Capital, was self-represented.
HOUSTON — Marcus & Millichap has brokered the sale of Yorktown Crossing, a 22,350-square-foot retail strip center in northwest Houston. The center sits on 2.6 acres and was fully leased at the time of sale to 12 tenants, all of which are signed to triple-net leases. Justin Miller and John Wagner of Marcus & Millichap’s Houston represented the seller, a private out-of-state investor, in the transaction. The buyer was a Houston-based private investor.
Syndicated Equities Group Acquires 45,306 SF Winnebago Industries Innovation Center Near Minneapolis
SAVAGE, MINN. — Syndicated Equities has acquired the Winnebago Industries Innovation Center in Savage, about 20 miles south of Minneapolis. The property consists of a 45,306-square-foot, single-story industrial building that is fully net leased to Winnebago Industries. Originally constructed in 2017, the building underwent a renovation to Winnebago’s specifications in 2023 and now serves as the company’s primary research, development and testing facility. Winnebago utilizes the property for the creation of new prototypes, technology enhancements for its vehicles, data and connectivity upgrades, advanced materials construction and self-driving autonomy development. Syndicated also owns Winnebago’s corporate headquarters, which are located three miles northwest of the asset. Syndicated acquired the latest property in a Delaware Statutory Trust ownership structure to accommodate investors completing 1031 exchanges along with accredited individual investors.
GLENDALE, ARIZ. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Glen 91, an apartment community in the Phoenix suburb of Glendale. HCW sold the asset to Bridge Investment Group for $76.5 million, $258,446 per unit. Steve Gebing and Cliff David of IPA represented the seller and procured the buyer in the deal. Completed in 2023, Glen 91 features 296 apartments, a resort-style swimming pool, hammock garden, covered parking and attached garages. Apartments offer nine-foot ceilings, laundry rooms with full-size washers/dryers and walk-in closets with built-in shelving.
LOS ANGELES — Cushman & Wakefield has arranged the sale of 612 S. Broadway, a landmark building in downtown Los Angeles’ historic core. The six-story creative office and retail property traded for $16 million. Terms of the transaction were not released. Mike Condon Jr., Erica Finck, Reid Gratsch, Brittany Winn, Kylie Rawn and Mark Zakarian of Cushman & Wakefield brokered the transaction. Originally built in 1924 as Desmond’s Department Store and designed by A.C. Martin, the 80,000-square-foot building underwent a redevelopment transforming it into creative office building. Omgivning oversaw the redevelopment, which included adding two floors atop the original structure.
DENVER — Malman Commercial Real Estate has brokered the acquisition of an industrial property located at 2153 S. Wabash St. in Denver. Vera Wabash LLC acquired the asset from 2153 South Wabash Street LLC for $3 million. Situated on a 1.2-acre parcel, the 25,356-square-foot property features eight dock-high doors and one drive-in loading door. Taylor Roy of Malman Commercial Real Estate represented the seller, while CJ Toohey, Patrick Henry and Boston Wier of The Henry Group represented the buyer in the deal.
ST. PETERSBURG, FLA. — Excelsa Properties has acquired The Drake at St. Pete, a 477-unit multifamily community located at 1699 68th St. in St. Petersburg. Built in 1972, the Tampa Bay-area property comprises 36 residential buildings with a clubhouse and leasing center. Amenities at the community include a 24-hour fitness center, three swimming pools, two dog parks and a picnic area. Excelsa plans to spend $8 million on improvements at the property, which marks the sixth multifamily property to be acquired within its Excelsa U.S. Real Estate II fund. The seller and sales price of The Drake at St. Pete were not disclosed.
ATLANTA — JLL Capital Markets has arranged the sale of 120 Interstate Northwest, a four-building light industrial business park in Atlanta. Adler Real Estate Partners acquired the property, which totals 281,677 square feet, for an undisclosed price. The park was 97 percent leased to 35 tenants at the time of sale. Matt Wirth, Dennis Mitchell, Britton Burdette and Jim Freeman of JLL represented the seller, Albany Road Real Estate Partners, in the transaction. Additionally, Melissa Rose, Bobby Norwood and Hunter Goldberg of JLL secured acquisition financing on behalf of the buyer.
MONTGOMERY, ALA. — DWG Capital Partners and Dorado Holdings have purchased Greenbriar Apartments, a 96-unit multifamily community in Montgomery. Located at 4604 Virginia Loop Road, the property features 13 two-story buildings situated on 5.4 acres. Insight Management Group sold the community for an undisclosed price. Jonny Easterling of Wiley Real Estate Group represented the seller in the transaction.