HAMILTON, N.J. — A partnership between New Jersey-based Saxum Real Estate and Meadow Partners, an investment firm with offices in New York and London, has purchased an 80,420-square-foot industrial flex building in Hamilton, located just outside of Trenton. The site at 1 Electronics Drive spans 16 acres, including land for future expansion. The building, which according to LoopNet Inc. was constructed in 1972 and renovated in 2000, includes 530 parking spaces and was 73 percent leased at the time of sale to three tenants. JLL represented the seller, BTR Capital Group, in the transaction and arranged the joint venture equity and acquisition financing for the deal. Zimmel Associates has been tapped as the leasing agent.
MISSION, KAN. — MLG Capital has acquired Silverwood Apartments in Mission, a southwest suburb of Kansas City. The purchase price was undisclosed. Located at 5100 Foxridge Drive and built in 1986, the 280-unit multifamily property features amenities such as a pool, fitness center, clubhouse and picnic area. Approximately 80 percent of the units have been recently renovated, and MLG plans to renovate and modernize the remaining units. The firm plans to install in-unit washers and dryers in all units. MLG is partnering with Parkwest Real Estate on the execution of its business plan at the property. Silverwood marks MLG’s third acquisition in metro Kansas City and brings the firm’s total number of units owned in Kansas to 913. Michael Spero and Niko Vrentas of Berkadia represented the seller, California-based Canyon View Capital.
IOWA CITY, IOWA — Marcus & Millichap has brokered the sale of Oak Crest Storage, a 261-unit self-storage facility in Iowa City. The sales price was undisclosed. Built in 1999 and located at 4942 Oak Crest Hill Road SE, the property features 27 climate-controlled units, 101 non-climate-controlled units, 22 enclosed parking spaces, 109 uncovered parking spaces and two leasable offices. Overall, the asset totals 34,397 rentable square feet. George Kondracke, Brian Kelly, Gabriel Coe, Nathan Coe and Brett Hatcher of Marcus & Millichap represented the undisclosed seller and procured the buyer, Streamlined Storage, which now maintains four locations in Iowa. Jon Ruzicka, broker of record in Iowa, assisted in the transaction.
SCOTTSDALE, ARIZ. — Net Lease Office Properties has completed the sale of a single-tenant data center and office campus on Shea Boulevard in the Phoenix suburb of Scottsdale. Terms of the transaction were not released. Situated on more than 38 acres, the 354,888-square-foot asset serves as a mission-critical data and operations center for CVS. Peter Bauman and Tivon Moffitt of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the deal.
PLEASANT GROVE, UTAH — Dakota Pacific Real Estate, in partnership with Brasa Capital Management, has completed the sale of two Class A industrial warehouses in Pleasant Grove, between Salt Lake City and Provo. A national industrial investment firm acquired the assets for an undisclosed price. Totaling more than 427,000 square feet, the two buildings are fully leased to six diverse companies. The project development team included Big-D Construction, Mitre Peak and Zions Bank. Lucas Burbank and Ben Richardson of Newmark led the leasing efforts of the project. Burbank, Richardson and Jim Linn of Newmark handled the sales transaction.
SAN DIEGO — San Diego-based EZ Fit Movers LLC has purchased an industrial building located at 2548 Cactus Road in the Otay Mesa submarket of San Diego. A local development company sold the asset for $11.4 million. EZ Fit Movers entered into a build-to-suit agreement in 2021 with the seller with the intent of occupying the 44,278-square-foot building. EZ Fit Movers will occupy more than half of the office and warehouse space of the facility. Todd Holley of Voit Real Estate Services represented the buyer, while CBRE represented the seller in the transaction.
CHICAGO — Kiser Group has brokered the $17.2 million sale of Ravenswood Gardens, a multifamily portfolio consisting of 151 units across seven buildings in the Sheridan Park Historic District of Chicago’s Uptown neighborhood. Katie LeGrand, Lee Kiser and Jacob Price of Kiser brokered the transaction. Initially marketed in summer 2023, the portfolio went under contract but did not close due to market volatility. The seller, continuing its strategic exit from Chicago, revisited the sale in 2024. The buyer plans to reposition the units and rebrand them as Sheridan Park. The buyer assumed the seller’s existing loan, which features an interest rate below 4 percent for the next five years. The buyer now owns more than 400 units in the Uptown neighborhood.
KANSAS CITY, MO. — Hunt Midwest has sold a portion of its industrial outdoor storage portfolio at Hunt Midwest Business Center in Kansas City to national industrial outdoor storage firm Alterra IOS. The Philadelphia-based firm purchased 58 acres at three locations along Parvin Road and Arlington Avenue. The facilities include staging lots leased by Adrian Steel, a manufacturer for commercial van and truck equipment, and Ford Motor Co.’s North American Vehicle Logistics Outbound Shipping Center, the waystation for nearly every Ford Transit built in North America. Austin Baier of CBRE represented Hunt Midwest, while Joe Orscheln of CBRE represented Alterra IOS, which now owns more than 250 properties across 30 states.
NAPERVILLE, ILL. — Bucksbaum Properties LLC has acquired River District, a retail and office property in downtown Naperville. Built in 1988, the asset sits on 2.7 acres at the southeast corner of Washington Street and Chicago Avenue. The property totals nearly 59,000 square feet of retail space with tenants such as Rosebud, Fat Rosie’s Taco & Tequila Bar, Chipotle and Five Guys, as well as 12,000 square feet of second-floor office space. The seller and sales price were not provided.
DALLAS — SRS Real Estate Partners has arranged the sale of the $3.7 million ground lease sale of a 4,680-square-foot restaurant in Dallas that is triple-net-leased to Chick-fil-A. The building, which was constructed on 1.5 acres in 2023, is an outparcel to The Shops at Redbird, a 720,000-square-foot development on the city’s southwest side. Matthew Mousavi and Patrick Luther of SRS represented the seller, a Dallas-based developer, in the transaction. The buyer was a Dallas-based 1031 exchange investor. Both parties requested anonymity. The corporate-guaranteed lease has 14 years of term remaining.