Acquisitions

Weitzman Brokers Sale of 242,000 SF Office Building in Irving’s Las Colinas District

by Taylor Williams May 28, 2025

IRVING, TEXAS — Weitzman has brokered the sale of Corporate Point, a 242,000-square-foot office building in Irving’s Las Colinas district. Built in 1981 and renovated in 2007 and 2015, the 10-story building features a new conference center, training room, tenant lounge, full-service fitness center and a café. The site also offers undeveloped 7.5 acres for future expansion. Creighton Stark of Weitzman, along with Dallas-based International Capital LLC and former Weitzman broker Matt Rosenfeld, arranged the sale. The buyer and seller were not disclosed.

May 28, 2025

Acquisitions Industrial Utah Western

Steel Peak Acquires Industrial Outdoor Storage Property in Salt Lake City for $7.6M

by Amy Works May 28, 2025

SALT LAKE CITY — Steel Peak has purchased an industrial outdoor storage (IOS) property located at 1876 W. Fortune Road in Salt Lake City from Stalsberg Properties for $7.6 million. Philip Eilers of Cushman & Wakefield represented the buyer, while Charlie Davis of Cushman & Wakefield represented the seller in the transaction. Situated on 5.4 acres, the asset consists of two warehouse buildings totaling 31,460 square feet. The zoning allows for various industrial uses, including outdoor storage, commercial parking, contractor yards, heavy equipment, tire distribution/retail, truck freight terminals, auto and truck repair, industrial services and sales, and railroad repair/rail freight terminals.

May 28, 2025

Acquisitions California Retail Western

Hanley Investment Group Arranges $6.1M Sale of Single-Tenant Childcare Facility Near Sacramento

by Amy Works May 28, 2025

ELK GROVE, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the sale of a single-tenant childcare facility in Elk Grove, a suburb of Sacramento. Armstrong Development Properties sold the asset to a private investor for $6.1 million. Jeff Lefko and Bill Asher of Hanley Investment Group Real Estate Advisors represented the seller, while Mason Canter of The Mason Canter Group of Los Angeles represented the buyer in the deal. The Learning Experience occupies the 9,990-square-foot building, which was built in 2022, on a new 17-year corporate lease with 6 percent rent increases every five years throughout the base term and option periods, along with a $1 million corporate guarantee. The property is located at 8330 Elk Grove Florin Road.

May 28, 2025

Acquisitions California Multifamily Western

Marcus & Millichap Brokers Sale of Cypress Villa Apartment Property in Covina, California

by Amy Works May 28, 2025

COVINA, CALIF. — Marcus & Millichap has arranged the sale of Cypress Villa, a multifamily community at 19529 E. Cypress St. in Covina. Forgette Family Trust sold the asset to SRI Properties LLC for $2.8 million. Built in 1984, Cypress Villa offers 11 two-bedroom/one-bath units with central air conditioning and heat, two parking spaces per unit and access to an onsite laundry room. Additionally, each unit is individually metered for gas and electricity. Douglas McCauley and David Covarrubias of Marcus & Millichap represented the seller and procured the buyer in the deal.

May 28, 2025

Acquisitions Illinois Indiana Michigan Midwest Ohio Retail

Eidi Properties Acquires 39 Shopping Centers Totaling 650,257 SF in Six States

by Kristin Harlow May 28, 2025

TOLEDO, OHIO — Toledo-based Eidi Properties has acquired 39 shopping centers totaling 650,257 square feet across Illinois, Florida, Virginia, Michigan, North Carolina and Indiana. The transaction, which features a mix of power centers, grocery-anchored plazas and community hubs, brings Eidi’s portfolio to nearly 80 retail properties totaling more than 1.5 million square feet. Dembs-Roth Development was the seller. Joel Jerger of WesBanco, Andy Maher and Brian White of Waterford Bank NA, as well as John Skeldon and Joe Bajas of Cooperative Business Services, all based in Toledo, arranged acquisition financing for the deal. Anthony Calamunci and Gordon Thomas of FisherBroyles served as legal counsel on behalf of Eidi, and Brian Raznick of Taft Law represented the seller.

May 28, 2025

Acquisitions Industrial Northeast Pennsylvania

Greek Real Estate Buys 141,276 SF Logistics Facility in Croydon, Pennsylvania

by Taylor Williams May 28, 2025

CROYDON, PA. — Regional investment firm Greek Real Estate Partners has purchased Everest Logistics Park, a 141,276-square-foot facility in Croydon, a northeastern suburb of Philadelphia. Penwood Real Estate Investment Management sold the asset for $36.7 million. Built on 10 acres in 2023, the facility offers a clear height of 36 feet, 20 tailgate doors, one drive-in door, 3,000 square feet of office space and parking for 260 cars and 31 trailers. Burry Klein and Josh Chesner of Branch Industrial represented Greek Real Estate, which has also executed a full-building lease expansion with the existing tenant, Philadelphia-based PCI Pharma, in the off-market transaction.

May 28, 2025

Acquisitions Massachusetts Northeast Retail

Marcus & Millichap Brokers $7.2M Sale of Retail Strip Center in Leominster, Massachusetts

by Taylor Williams May 28, 2025

LEOMINSTER, MASS. — Marcus & Millichap has brokered the $7.2 million sale of Leominster Plaza, a 20,279-square-foot retail strip center located about 50 miles west of Boston. Urgent care provider ConvenientMD anchors the center, and other tenants include GEICO, ARA Leominster Dialysis and Kids Care+. Adam Cohen and Brett Kilar of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

May 28, 2025

Acquisitions Florida Multifamily Southeast

Marcus & Millichap Brokers $6.2M Sale of Multifamily Community in Royal Palm Beach, Florida

by John Nelson May 27, 2025

ROYAL PALM BEACH, FLA. — Marcus & Millichap has brokered the $6.2 million sale of Timbercreek Townhomes and Villas, a 20-unit multifamily community located at 100 Sparrow Drive in Royal Palm Beach, about 12 miles west of West Palm Beach. Evan Kristol and Brandon Rex of Marcus & Millichap represented the seller, a private syndicator, and procured the buyer, a California-based investment group, in the transaction. The buyer purchased the community as part of a 1031 exchange. Both parties requested anonymity. Built in 1980, Timbercreek Townhomes and Villas features a gated swimming pool, gazebo and landscaped grounds.

May 27, 2025

Acquisitions Alabama Restaurant Retail Southeast

RealSource Facilitates $3M Sale of New Restaurant in Gadsden, Alabama Leased to Starbucks

by John Nelson May 27, 2025

GADSDEN, ALA. — RealSource Group has facilitated the $3 million sale of a newly built restaurant located at 720 Gilbert Ferry Road SE in Gadsden, about 60 miles northeast of Birmingham. Starbucks Coffee occupies the 2,500-square-foot building, which features a drive-thru and outdoor patio seating, on a 10-year initial lease with 10 percent rent increases every five years. The restaurant was built last year on a 1.2-acre site near I-59 and I-759. Austin Blodgett and Jonathan Schiffer of RealSource, along with ParaSell Inc., represented both the Ohio-based private investor and the Tampa-based private developer in the transaction. Both parties requested anonymity.

May 27, 2025

Acquisitions Retail Texas

Partners Capital Buys 102,020 SF Kessler Park Shopping Center in Dallas

by Taylor Williams May 27, 2025

DALLAS — Partners Capital, the investment arm of Partners Real Estate, has purchased Kessler Park Shopping Center, a 102,020-square-foot retail property located southwest of downtown Dallas. The property comprises two buildings on a 10-acre site that was roughly 98 percent leased at the time of sale to tenants such as Colaw Fitness and United Education Institute. William Harrison of Harrison Property Brokerage represented both Partners Capital and the undisclosed seller in the transaction. Veritex Bank financed the acquisition.

May 27, 2025

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