EDISON, N.J. — A partnership between Dallas-based investment firm Dalfen Industrial and funds advised by affiliates of Centerbridge Partners LP has purchased a 1.8-acre industrial outdoor storage (IOS) facility in the Central New Jersey community of Edison. The facility at 83 Gross Ave. houses a 4,500-square-foot building with a clear height of 14 feet. Mark Silverman, Liam McGregor and Elli Klapper of CBRE represented the undisclosed seller in the off-market transaction.
CHICAGO — Colliers has arranged the sale of a 140,310-square-foot distribution center fully leased to Whole Foods Market in Chicago for an undisclosed price. Jeff Devine, Steve Disse and Tyler Ziebel of Colliers represented the seller, Ryan Cos. US Inc. Built in 2017 by Ryan, the property at 716 E. 111th St. services Whole Foods locations in the Chicago area and throughout the Midwest and Canada. Metzler Real Estate advised the buyer, an offshore investor.
WILLOUGHBY HILLS, OHIO — MAG Capital Partners has acquired a 158,484-square-foot specialty food processing facility in Willoughby Hills in a sale-leaseback transaction with Produce Packaging Inc. (PPI). The property, located at 27853 Chardon Road in suburban Cleveland, has served as PPI’s headquarters since 2019. PPI’s $15 million investment in building infrastructure and systems supports multi-temperature/multi-humidity zones. Originally developed as a Sam’s Club, the asset features a clear height of 27 feet, 12 dock doors and four drive-in doors. Phil DiGennaro and Joe DiGennaro of STREAM Capital Partners represented PPI in the transaction.
CHAMPAIGN, ILL. — Marcus & Millichap has brokered the $5.1 million sale of Champaign Station, a six-suite retail strip center in Champaign. Built in 2007, the 21,152-square-foot property is fully leased to a mix of restaurant and service-oriented tenants. The asset is shadow anchored by Menards and adjacent to Market Place Shopping Center. Alex Perez and Chris Garavaglia of Marcus & Millichap represented the seller, a private equity group, and procured the buyer, a private equity group based out of North Carolina. The duo previously brokered the sale of the property in 2020.
ARLINGTON, TEXAS — Marcus & Millichap has brokered the sale of Addison Park, a 224-unit affordable housing complex in Arlington. Built in 2004, the property offers one-, two- and three-bedroom units and amenities such as a pool, business center, playground and outdoor grilling and dining stations. Information on income restrictions was not disclosed. Sam Pettigrew, Wes Racht, Nick Fluellen and Bard Hoover of Marcus & Millichap represented the undisclosed seller in the transaction and procured the buyer, Brazos Residential.
ANGLETON, TEXAS — Locally based investment firm Angleton Realty has purchased approximately 50 acres in Angleton, located south of Houston, for the development of a new RV park and commercial space. Details on the commercial component, as well as an overall construction timeline, were not disclosed. Kirk Laguarta, Duane Heckmann and Nate Jackson of Land Advisors Organization represented the seller, an entity doing business as Rancho Isabella LLC, in the transaction. Darbe Gosda of CBRE represented Angleton Realty.
MCKINNEY, TEXAS — Cushman & Wakefield has arranged the sale of a 17,550-square-foot office building in the northern Dallas suburb of McKinney. The building at 230 E. Hunt St. was originally constructed in 2015, according to LoopNet Inc. Ryan Hoopes and Johnny Johnson of Cushman & Wakefield represented the buyer, Morrow Renewables, which is also a tenant at the building, in the transaction. The seller was an entity doing business as Tynas Texas LP.
HUDSON, MASS. — CBRE has brokered the sale of a 176-unit apartment complex in Hudson, a western suburb of Boston. Matrix Hudson is a five-building property that was completed in 2017. Units come in one- and two-bedroom floor plans and feature an average size of 1,006 square feet. Amenities include a clubroom, fitness center and a business center. Simon Butler, Biria St. John, John McLaughlin and Brian Bowler of CBRE represented the seller, an affiliate of The Claremont Cos., in the transaction. The team also procured the buyer, a fund backed by Zurich Alternative Asset Management.
THOUSAND OAKS, CALIF. — Marathon Asset Management has provided a $164 million mortgage loan for the acquisition of The Oaks, a shopping mall located in Thousand Oaks, roughly 38 miles west of Los Angeles. Stockdale Capital Partners was the borrower. Nordstrom, Dick’s Sporting Goods and AMC Theatres anchor the 1.2 million-square-foot property, which is situated on 85 acres. Other tenants at the center include Apple, Anthropologie, Zara, H&M and Arhaus. Joseph Griffin of Marathon originated the loan. Greg Stampley and Jessica Henning of Eastdil Secured arranged the financing on behalf of Stockdale.
THE VILLAGES AND WINTER PARK, FLA. — Titan Development has sold a portfolio of three seniors housing communities in Central Florida. The properties include Watercrest Buena Vista and Watercrest Spanish Springs in The Villages and Watercrest Winter Park in Winter Park. AEW Capital Management acquired the 416-unit portfolio for an undisclosed price. JLL represented Titan in the sale. Additionally, JLL is arranging acquisition financing for two of the properties on behalf of the buyer. Built in 2018, Watercrest Buena Vista features 224 residences, with 118 independent living, 74 assisted living and 32 memory care units. Amenities at the community include underground parking, a heated pool, fitness center, salon, media room, bistro and bar and a golf cart charging station. Watercrest Spanish Springs, which opened in 2016, comprises 86 assisted living and memory care units. Amenities at the property include restaurant-style dining, gathering areas, salon services and wellness and exercise programs. Built in 2019, Watercrest Winter Park is an assisted living and memory community that totals 106 units. AEW Capital Management will retain the current, third-party operator of the properties, Watercrest Senior Living.