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Acquisitions

Alaire-Apts-Renton-WA
AcquisitionsMultifamilyWashingtonWestern

RISE Properties, Tokyu Land Sell 357-Unit Alaire Multifamily Community in Renton, Washington

by Amy Works

RENTON, WASH. — RISE Properties and Tokyu Land have completed the sale of Alaire, an apartment property in the Seattle suburb of Renton, to Greystar for an undisclosed price. Situated on 18 acres, Alaire features 357 one-, two- and three-bedroom apartments with Shaker-style cabinets, stainless steel appliances and new lighting and plumbing fixtures. Select units have walk-in closets, laundry rooms or wood-burning fireplaces and top-floor apartments feature vaulted ceilings. Community amenities include two clubhouses with outdoor heated pools, a fitness center, outdoor barbecue areas, a full-size sports court, TV lounge, game room, sauna and dog park. Philip Assouad, Giovanni Napoli, Ryan Harmon, Nicholas Ruggiero and Anthony Palladino of Institutional Property Advisors, a division of Marcus & Millichap, represented the sellers and procured the buyer in the deal.

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Atrium-Plaza-Greenwood-Village-CO
AcquisitionsColoradoOfficeWestern

DPC Cos. Acquires Atrium Plaza in Greenwood Village, Colorado as New Headquarters Building

by Amy Works

GREENWOOD VILLAGE, COLO. — DPC Cos. has purchased Atrium Plaza, an office building in the Denver suburb of Greenwood Village, for $5 million. The buyer, which specializes in the acquisition and development of commercial property in Colorado, Arizona and the Rocky Mountains Region, plans to use the property at 5675 DTC Blvd. as its new headquarters. Denver-based THK Associates will occupy 8,800 square feet of space the property.

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AcquisitionsRetailWashingtonWestern

Marcus & Millichap Negotiates $9.6M Sale of 192nd Plaza Retail Property in Camas, Washington

by Amy Works

CAMAS, WASH. — Marcus & Millichap has negotiated the sale of 192nd Plaza, a retail asset in Camas, just across the Columbia River from Portland, Oregon. A limited liability company sold property to local investors for $9.6 million, or $276 per square foot. Located at 2005 SE 192nd Ave. and 2011 SE 192nd Ave., 192nd Plaza features 34,923 square feet of retail space. Built in 2010, the property is fully occupied by 11 tenants. Clayton Brown, Dylan Wolf and Ruthanne Loar of Marcus & Millichap’s Seattle office represented the seller in the transaction.

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AcquisitionsArizonaIndustrialWestern

Cushman & Wakefield | PICOR Brokers $1.9M Sale of Rita Ranch Commercial Center Industrial Lots in Tucson, Arizona

by Amy Works

TUCSON, ARIZ. — Cushman & Wakefield | PICOR has arranged the sale of Rita Ranch Commercial Center, Lots 57, 58 and 59, totaling 15 acres of industrial land in Tucson. Ron Zimmerman, Jesse Blum and Paul Hooker of Cushman & Wakefield | PICOR represented the seller, while Sam Rutledge of Commercial Properties represented the buyer in the transaction.

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AcquisitionsIndustrialMidwestOhio

Alterra IOS Acquires Two Industrial Outdoor Storage Sites in Columbus, Ohio

by Kristin Harlow

COLUMBUS, OHIO — Alterra IOS, an industrial outdoor storage (IOS) company, has acquired two IOS properties totaling 22.3 acres in Columbus for an undisclosed price. The sites include 4080 Business Park Drive and 2222 New World Drive. Both are located minutes from downtown, offering tenants convenient access to major interstates, national rail networks and international airports. The property at 4080 Business Park Drive totals more than eight acres and features 20,120 square feet of accompanying warehouse space. A full-service trailer leasing provider entered into a long-term lease agreement at closing. Ascension Advisory negotiated the sale. The facility at 2222 New World Drive includes 14 acres with 50,238 square feet of accompanying warehouse space. JLL brokered the sale. Alterra now owns six sites in the Columbus area.

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AcquisitionsIllinoisMidwestRestaurantRetail

Colliers Arranges Sale of 6,968 SF Former Texas Roadhouse-Occupied Property in Naperville, Illinois

by Kristin Harlow

NAPERVILLE, ILL. — Colliers has arranged the sale of a 6,968-square-foot restaurant property formerly occupied by Texas Roadhouse in the Chicago suburb of Naperville for an undisclosed price. Brad Belden of Colliers represented the seller, 2866 Patriot’s Lane LLC. The buyer, Shinto Japanese Steakhouse LLC, plans to open a Shinto Japanese Steakhouse or similar concept on the site. Texas Roadhouse closed in July.

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AcquisitionsIndustrialTexas

Creation, J.P. Morgan Asset Management Sell 532,000 SF Industrial Property in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — A partnership between Phoenix-based developer Creation Real Estate and J.P. Morgan Asset Management has sold Fort West Commerce Center, a 531,601-square-foot industrial property in Fort Worth. The development comprises three buildings on a 30-acre site on the city’s north side. Tenants at Fort West Commerce Center include Lockheed Martin (136,135 square feet) and Big Ass Fans (221,444 square feet). The buyer was High Street Logistics Properties, an investment firm based in metro Boston. No third-party brokers were involved in the deal.

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AcquisitionsMultifamilyNew YorkNortheast

Stav Equities Negotiates $2.4M Sale of Brooklyn Apartment Building

by Taylor Williams

NEW YORK CITY — Locally based brokerage firm Stav Equities has negotiated the $2.4 million sale of a three-unit apartment building located at 14 Third St. in the Carroll Gardens area of Brooklyn. The buyer intends to convert the units, which were vacant at the time of sale, into condominiums. Jacob Stavsky of Stav Equities represented the buyer and seller, both of which requested anonymity, in the off-market transaction.

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AcquisitionsArkansasIndustrialSoutheast

Phoenix Investors Purchases Three Industrial Properties in Southwest Arkansas Totaling 816,000 SF

by John Nelson

NASHVILLE, ARK. — Phoenix Investors has purchased three industrial properties in Nashville, a city in southwest Arkansas. Swedish power tool manufacturer Husqvarna sold the properties, which total roughly 816,000 square feet, for an undisclosed price. Husqvarna had previously decided to shutter its Nashville plants in July 2023 with the goal to phase out the properties by the end of 2024. The acquisition includes a 351,763-square-foot facility located at 630 Highway 27 Bypass; a 299,885-square-foot property at 1 Poulan Drive; and a 165,046-square-foot facility at 139 Old Airport Road. Phoenix Investors plans to implement a capital improvement plan to attract high-quality industrial users to the area. The acquisition also included a solar farm of an undisclosed size.

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AcquisitionsFloridaRetailSoutheast

Joint Venture Acquires Two Florida Shopping Centers Totaling 287,407 SF

by John Nelson

BRANDON AND TAMARAC, FLA. — A joint venture between ShopOne Centers REIT, Pantheon and a global institutional investor has acquired two shopping centers in Florida totaling 287,407 square feet. Located in Tamarac, Midway Plaza comprises 218,400 square feet. Publix anchors the property, which was 84 percent occupied at the time of sale. Walmart anchors Lithia Square in Brandon. The 69,007-square-foot property was 79 percent occupied at the time of sale. The sellers and sales price were not disclosed. This acquisition brings the joint venture’s portfolio to 1.8 million square feet of grocery-anchored retail space.

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