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Acquisitions

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AcquisitionsHospitalityNew JerseyNortheast

Hunter Hotel Advisors Negotiates Sale of 133-Room Hampton Inn & Suites in Bridgewater, New Jersey

by Taylor Williams

BRIDGEWATER, N.J. — Atlanta-based brokerage firm Hunter Hotel Advisors has negotiated the sale of the 133-room Hampton Inn & Suites Bridgewater, located in Central New Jersey’s Raritan Valley. The hotel was built in 2017 and offers amenities such as a fitness center, indoor pool and a lobby bar. An entity doing business as FSG Bridgewater Hotel LLC sold the property to New Jersey-based owner-operator Innzen Hospitality for an undisclosed price. Spencer Davidson of Hunter Hotel Advisors brokered the deal.

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AcquisitionsIndustrialNew JerseyNortheast

NAI DiLeo-Bram Brokers $6M Sale of Northern New Jersey Industrial Building

by Taylor Williams

UNION, N.J. — NAI DiLeo-Bram has brokered the $6 million sale of a 24,000-square-foot industrial building in the Northern New Jersey community of Union. According to LoopNet Inc., the single-tenant building at 860 Springfield Road was constructed in 1961 and features a clear height of 16 feet and four dock-high loading doors. Richard Goski and Catherine Goski-Vasquez of NAI DiLeo-Bram brokered the deal. The buyer and seller were not disclosed.

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Houston-Infill-IOS-Portfolio
AcquisitionsIndustrialTexas

Triten Real Estate Sells 117-Acre Industrial Outdoor Storage Portfolio in Houston

by Taylor Williams

HOUSTON — Locally based investment firm Triten Real Estate Partners has sold a portfolio of 11 industrial outdoor storage (IOS) facilities totaling 117 acres in Houston. The facilities are located just east of the downtown area and were fully leased at the time of sale to tenants in industries such as transportation, distribution, freight and materials supply. CBRE marketed the portfolio for sale. The buyer and sales price were not disclosed.

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1303-Avocado-Ave-Newport-Beach-CA
AcquisitionsCaliforniaOfficeWestern

CBRE Brokers $11.5M Sale of Office Building in Newport Beach, California

by Amy Works

NEWPORT BEACH, CALIF. — CBRE has negotiated the sale of an office property located at 1303 Avocado Ave. in Newport Beach. A local family office acquired the asset from a local private partnership for $11.5 million. Built in 1973, the two-story, 15,200-square-foot property was 96 percent occupied at the time of sale. Anthony DeLorenzo, Sammy Cemo, Bryan Johnson and Harry Su of CBRE represented the seller in the deal.

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AcquisitionsMultifamilyTexas

TMG Negotiates Sale of 84-Unit Highland Square Apartments in Arlington

by Taylor Williams

ARLINGTON, TEXAS — The Multifamily Group (TMG), a Dallas-based brokerage firm, has negotiated the sale of Bella Vida, an 84-unit apartment complex in Arlington. Built in 1984, the property offers one- and two-bedroom units as well as a pool and onsite laundry facilities. Private balconies are also available in select residences. The buyer and seller were not disclosed.

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AcquisitionsRetailTexas

CenterSquare Acquires 40,000 SF Retail Center in West Houston

by Taylor Williams

HOUSTON — Metro Philadelphia-based CenterSquare Investment Management has acquired Shops at Aliana Trace, a 40,000-square-foot retail center in West Houston. The center, which is adjacent to a Costco, was fully leased at the time of sale to tenants such as Big Blue Swim, Salon by JC and Wayback Burgers. CBRE brokered the deal. The seller and sales price were not disclosed.

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AcquisitionsIndustrialNorth CarolinaSoutheast

JLL Arranges Sale of 265,000 SF Manufacturing Facility in Newton, North Carolina

by John Nelson

NEWTON, N.C. — JLL Capital Markets has arranged the sale of Corning Hickory, a 265,000-square-foot manufacturing facility located within the Trivium Corporate Center in Newton, about 43 miles northwest of Charlotte. Constructed in 2022, the build-to-suit facility is fully leased to Corning Inc., a multinational technology company that specializes in glass and ceramics science and optical physics. Pete Pittroff, Jason DeWitt, Dave Andrews, Michael Scarnato, Zach Lloyd and Allan Parrott of JLL’s Capital Markets team represented the seller, Atlanta-based Stonemont Financial Group, in the transaction. PRP Real Estate Investment Management purchased the property for an undisclosed price. Situated on 30 acres, the facility features 32-foot clear heights, ESPR fire suppression, LED lighting, a climate-controlled interior, two 4,000-amp switchboards, 83 car parking spaces and 56 trailer parking spaces. The property also offers an additional 83,000 square feet for options to expand.

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AcquisitionsIllinoisMidwestMultifamily

Interra Realty Brokers $9.6M Sale of Apartment Building on Chicago’s North Side

by Kristin Harlow

CHICAGO — Interra Realty has brokered the $9.6 million sale of 6930 N. Greenview Ave. in Chicago’s Rogers Park neighborhood. The property features 66 apartment units and five retail spaces, two of which are occupied by a local coffee shop and a political field office. Built in 1932, the asset features a mix of studio and one-bedroom layouts. Patrick Kennelly of Interra represented the buyer, the Mehmeti family. Joe Smazal of Interra represented the confidential seller. The building was fully leased at the time of sale. Though the property has received recent upgrades including a new boiler and updated elevator controls, the buyer has an opportunity to add value through strategic capital improvements, according to Interra.

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AcquisitionsMidwestRetailWisconsin

Colliers Arranges $4.5M Sale of Retail Center in West Allis, Wisconsin

by Kristin Harlow

WEST ALLIS, WIS. — Colliers has arranged the $4.5 million sale of a six-tenant retail center in the Milwaukee suburb of West Allis. The 14,000-square-foot property is home to tenants such as AT&T, Tropical Smoothie Café and HuHot. The private seller purchased the asset about three years ago and needed to dissolve a partnership. Colliers represented the seller and procured the buyer, Curbline, a $500 million fund that made its first acquisition in Wisconsin.

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AcquisitionsNortheastRetailRhode Island

Encore Enterprises, AmCap Acquire 152,595 SF Shopping Center in Warwick, Rhode Island

by Taylor Williams

WARWICK, R.I. — A joint venture between Dallas-based investment firm Encore Enterprises and Connecticut-based AmCap Management has acquired Cowesett Corners, a 152,595-square-foot shopping center in Warwick, located just south of Providence. Grocer Stop & Shop anchors the center, which is also home to tenants such as PetCo, Five Below, Sally Beauty, GameStop and Oak Street Health. The center’s food-and-beverage component encompasses Five Guys Burgers & Fries, Applebee’s, Moe’s Southwest Grill and New Asia House. The seller and sales price were not disclosed.

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