BLOOMINGTON, ILL. — SVN Core 3 has arranged the sale of an 11,060-square-foot industrial building located at 4 Currency Drive in Bloomington for $1.2 million. The property features overhead doors, office spaces, three restrooms, a retail front, warehouse in the back and ample parking on three sides. The transaction involved local buyers and sellers. Jill Spratt of SVN Core 3 represented the seller, while Patrick and Dan Kniery of Re/Max Rising represented the buyer.
MILPITAS, CALIF. — CBRE has arranged the sale of Ascend Apartments, a multifamily community in Silicon Valley. Keith Manson of CBRE represented the buyer in the off-market transaction. Details of the deal were not released. Located at 1821 S. Milpitas Blvd. in Milpitas, Ascend Apartments features 266 studio, one- and two-bedroom floor plans, courtyards, a rooftop terrace with a skyline swimming pool and spa and a fitness center with an outdoor yoga lounge. Built in 2021, the community is situated across from the Milpitas BART and VTA Light Rail stations.
CalBay Development Sells Jack in the Box-Occupied Restaurant Building in Alameda, California for $4M
ALAMEDA, CALIF. — CalBay Development has completed the sale of a single-tenant restaurant property in Alameda to a Thousand Oaks, Calif.-based private investor for $4 million. Jack in the Box occupies the 2,583-square-foot building, which includes a drive-thru. Located at 1257 Park St., the property was originally renovated in 1991. Bill Asher, Jeremy McChesney and Jeff Lefko of Hanley Investment Group, along with Cherie Huillade of Colliers, represented the seller in the deal. Jake Kim of Westlake Village, Calif.-based Pinnacle Estate Properties represented the buyer.
NORTHRIDGE, CALIF. — Coldwell Banker Commercial Quality Properties has arranged the $2.6 million sale of a 10,000-square-foot, multi-tenant office and retail property located at 8727 Tampa Ave. in Northridge, about 25 miles northwest of Los Angeles. Arthur Pfefferman of Coldwell Banker Commercial Quality Properties represented the seller, a law firm, in the transaction. The name of the buyer was not released.
SAN MARCOS, TEXAS — Houston-based investment firm Triten Real Estate Partners has purchased Central Texas Logistics Center, a 485,885-square-foot industrial property in San Marcos, roughly midway between Austin and San Antonio. The property comprises seven buildings on a 46-acre site that feature a mix of cross-dock, front- and rear-load configurations and an average suite size of 27,595 square feet, as well as office and showroom space. Central Texas Logistics Center was fully leased to 15 tenants at the time of sale. Dom Espinosa, Joshua Villarreal, Stephen Bailey, Dustin Volz and Zach Riebe of Newmark represented Triten and the undisclosed seller in the transaction.
DENTON, TEXAS — Vesper Holdings has acquired Midtown 905, a 432-bed student housing community located near the University of North Texas campus in Denton. Built in 2011, the four-story building offers fully furnished units in two-, three- and four-bedroom configurations with bed-to-bath parity. Shared amenities include a clubhouse, pool, game room and a coffee bar. Christopher Epp of Walker & Dunlop represented the undisclosed seller in the transaction. Gregg Wallace of AMA Financial and Geoff Smith of Walker & Dunlop placed acquisition financing for the new ownership, which also plans to invest $1.8 million in capital improvements to the property.
FORT WORTH, TEXAS — Dallas-based brokerage firm Younger Partners has arranged the sale of a four-acre industrial development site on the east side of Fort Worth. The site at 2525 Handley Ederville Road offers proximity to both I-820 and State Highway 121 and formerly housed a 150,000-square-foot Advanced Foam Recycling facility. That property was destroyed in a fire in 2021, and the facility was subsequently razed. Michael Ytem of Younger Partners represented the seller, BridgeCap Partners, in the deal. Forrest Cook of Stream Realty Partners represented the buyer, an entity doing business as G-Catch LLC. The sales price and future plans for the site were not disclosed.
LACEY, WASH. — TMR Investments has purchased The Village at Union Mills, an apartment property located at 8146 Sweetbrier Lane SE in Lacey. Terms of the transaction were not released. The Village at Union Mills offers 182 apartments. TMR has budgeted $4.1 million to execute a value-add repositioning strategy for the property. The planned investments include enhancements to the fitness center, clubhouse and outdoor amenity spaces, the addition of electric vehicle charging stations and rebranding. Planned interior unit renovations include the addition of stainless steel appliances, stone countertops and contemporary lighting and hardware.
ILLINOIS AND INDIANA — Alterra IOS has acquired three industrial outdoor storage (IOS) sites totaling 14 acres in metro Chicago for an undisclosed price. The parcels include 2201 E. Higgins Road in Elk Grove Village, Ill.; 22634 S. Frontage Road in Minooka, Ill.; and 300 W. Chicago Ave. in East Chicago, Ind. All three properties are fully leased to a company in the equipment rental industry and feature more than 30,000 square feet of accompanying warehouse space. Alterra’s industrial real estate platform, Alterra IOS, is focused on heavy industrial and outdoor storage space.
PLATTEVILLE, WIS. — Marcus & Millichap has brokered the $4 million sale of a 29-unit multifamily portfolio in Platteville, a city in western Wisconsin. The portfolio comprises Pioneer Bluff, built in 1890; Pioneer Ridge, constructed in 1997; and Pioneer Court, built in 1997. There are 27 four-bedroom units and two two-bedroom units. Nearly all of the units in Pioneer Ridge are furnished. Patrick Suffield of Marcus & Millichap represented the seller and the 1031 exchange buyer. Todd Lindblom, broker of record in Wisconsin, assisted in closing the transaction.