WARREN, MICH. — SRS Real Estate Partners has brokered the sale-leaseback of a single-tenant, 277,425-square-foot industrial facility located at 26661 Lipari Way in Warren. Built in 2006 and situated on 11.7 acres, the property serves as the headquarters and distribution site for Lipari Foods, a wholesale food distributor. Michael Carter and Frank Rogers of SRS represented Lipari Foods in the sale. The buyer was a private investment fund from New York City. Lipari Foods signed a new, corporate-guaranteed 15-year lease. The building features 28,000 square feet of office space and 205,000 square feet of temperature-controlled warehouse space, which includes nearly 23,000 square feet of dock space with a total of 30 dock doors.
Acquisitions
ZIONSVILLE, IND. — CBRE has negotiated the sale of Reserve at William’s Glen, a 268-unit multifamily community in Zionsville. Birge & Held purchased the property from Buckingham Cos. CBRE’s Hannah Ott, George Tikijian, Cam Benz and Claire Hassfurther represented the seller. Built in 2001, the asset features a range of one- and two-bedroom floor plans averaging 916 square feet. Amenities include a pool, fitness center, clubhouse, business center, dog park, yoga and meditation room and walking trails.
OMAHA, NEB. — Investors Realty Inc. has arranged the sale of Brentwood Square Shopping Center in Omaha for $9 million. Brentwood Square Plaza LLC sold the 224,187-square-foot property to Brentwood I Acquisition LLC. Harbor Freight is the anchor tenant. Ember Grummons and Tim Kerrigan of Investors Realty represented the seller. The transaction also included an 89,359-square-foot land lease.
CORAL SPRINGS, FLA. — Garden City, N.Y.-based Pliskin Realty & Development has acquired Turtle Run Shoppes, an 80,000-square-foot retail center located in Coral Springs, a city in South Florida’s Broward County, for $19.5 million. Built in 1990 and renovated in 2018, Turtle Run Shoppes was 92 percent leased at the time of sale. Tenants include America’s Best Contacts and Eyeglasses, Cycle Gear, My Salon Suite, Smoothie King, La Brasas Bar & Restaurant, the U.S. Postal Service and Ross Dress for Less, which anchors the center. Douglas Mandel, Zach Levine and Cody Hershey of Marcus & Millichap marketed the property on behalf of the seller, Boca Raton, Fla.-based Grover Corlew, and procured Pliskin Realty in the transaction.
LEESBURG, VA. — TA Realty, in collaboration with its data center development arm TA Digital Group, has sold two hyperscale data centers totaling 745,000 square feet in Leesburg, a city in Northern Virginia’s Loudoun County. The two facilities are the first completed buildings of a planned five-building, 450-megawatt (mW) hyperscale data center campus. The buyer and additional terms of the sale were not disclosed. The campus is set to be leased to a single, unnamed global cloud provider, according to Data Center Dynamics.
Continental Realty Corp. Buys 329-Unit Multifamily Community in Summerville, South Carolina
by Abby Cox
SUMMERVILLE, S.C. — Baltimore-based Continental Realty Corp. has acquired Elevate at Brighton Park, a 329-unit apartment complex located in the Charleston suburb of Summerville. Alex Okulski of Newmark represented the seller, American Landmark, in the transaction. The sales price was not disclosed. Situated within the 5,000-acre, master-planned community of Nexton, Elevate at Brighton Park comprises 19 three-story buildings that offer garden-style apartments, carriage homes and townhomes. Floorplans at the complex range from one-, two- and three-bedroom layouts, with an average unit size of 1,014 square feet. Amenities include a standalone clubhouse with separate fitness and business centers, a saltwater swimming pool, outdoor lounge areas with grills, hammock garden and a dog park.
NEW YORK CITY — Gencom, a Miami-based investment firm, has acquired The Ritz-Carlton New York, Central Park, a 253-room hotel located in Midtown Manhattan. Banco Inbursa provided financing for the acquisition. Although the sales price was not disclosed, media outlets reported a bidding price of $400 million for the property in March 2024. “Gencom continues to see compelling long-term opportunities in New York City, particularly for luxury assets with enduring global appeal,” says Karim Alibhai, founder and principal of Gencom. Situated within the Plaza District at the corner of Central Park South and Sixth Avenue, the Ritz-Carlton New York comprises 253 guest rooms, including 47 suites that are located on the lower 22 floors of the 33-story building. The upper floors consist of roughly a dozen private residential condominiums, which were not included in the sale. Guest rooms offer a more standard hotel room layout, with separate seating areas, marble bathrooms and walk-in showers. Meanwhile, the residential condos average more than 1,000 square feet in size and include distinct living spaces, kitchens and dining areas. The Ritz-Carlton hotel also features various amenities for its guests, including Contour, the all-day gastro lounge; the Ritz-Carlton Club Lounge; the La Prairie Spa; and a …
DALLAS — NAI James E. Hanson, a New Jersey-based brokerage firm, has arranged the $8.8 million sale of a 20,000-square-foot cold storage facility in southwest Dallas. The newly renovated building at 4910 Joseph Hardin Drive includes 2,000 square feet of office space and has been net-leased to Bento Sushi for the past 10 years. Michael Walters and Cameron Silverstein of NAI Hanson represented the buyer, Anderson & Vreeland Realty Corp., in the transaction. The seller was CanTex Capital. The deal traded via a 1031 exchange, the structuring of which was supported by Chase Miller of NAI Robert Lynn.
CARROLLTON, TEXAS — Locally based investment firm Dalfen Industrial has purchased a 70,635-square-foot industrial building in the northern Dallas metro of Carrollton. The multi-tenant building at 1625 W. Crosby Road was 71 percent leased at the time of sale to two tenants: Momentum Technologies and Central Cargo North America. The seller and sales price were not disclosed.
NEW YORK CITY — Marcus & Millichap has brokered the $8.8 million sale of a 15-unit apartment building in Manhattan’s East Village. The building at 207 E. Fourth St., which includes two commercial spaces, houses studio, one- and two-bedroom units that were recently upgraded with new interior finishes, floors, appliances and bathroom fixtures. Matt Berger and Joe Koicim of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.