PORTLAND, ORE., AND VANCOUVER, WASH. — Colorado-based Spartan Investment Group has acquired three self-storage facilities in Oregon and Washington for $44 million. The seller was not disclosed. The 224,299-square-foot portfolio, which is managed by Extra Space Storage, includes: All properties were built within the last seven years and offer ground-level drive-up units, interior heated units with first floor and elevator access, interior non-climate-controlled units and parking spaces.
MARTINSBURG, W.VA. — Berkadia has brokered the sale of The Meadows at Berkeley Ridge, a newly constructed build-to-rent (BTR) residential community located at 368 Pineda Lane in Martinsburg. The 148-unit townhome property serves as the first BTR development in the market, according to Berkadia. The Meadows at Berkeley Ridge was built in 2023 and features three-story townhomes with three- and four-bedroom floor plans averaging 1,912 square feet in size. Each unit features private two-car driveways and attached car garages. Brett Moss, Tyler Swidler, Drew White, Carter Wood and Cole Carns of Berkadia brokered the sale. The sales price and seller were not disclosed. Phil Branigan, Miles Drinkwalter and Natalie Revers of Berkadia originated a 10-year, fixed-rate Fannie Mae acquisition loan on behalf of the buyer, a joint venture between Virginia-based DSP Real Estate Capital and Virginia-based Rockbridge Investment Group.
POMPANO BEACH, FLA. — Cushman & Wakefield has arranged the $20.7 million sale of a 93,873-square-foot industrial facility in Pompano Beach, a city in South Florida’s Broward County. The property is fully leased to The Shade Store, a retailer with 145 showrooms across the country. The tenant utilizes the space for manufacturing window treatments, distribution and housing its logistics department. Link Logistics purchased the industrial facility from Elion Partners. Dominic Montazemi, Mike Davis, Greg Miller, Rick Brugge and Rick Colon of Cushman & Wakefield represented the seller in the transaction. Matthew McAllister, Christopher Thomson, Christopher Metzger and Rick Etner of Cushman & Wakefield’s South Florida Industrial Team also supported the sale process and will represent the buyer in leasing efforts for the facility. The property is located within Gateway Industrial Park at 3141 S.W. 10th St., about 10 miles north of Fort Lauderdale via I-95. The facility, which was originally constructed as a build-to-suit for Bennett Auto Supply in 2001, features 24-foot clear heights, eight dock-high loading positions, two drive-in bays with ramps and an ESFR sprinkler system. The seller and The Shade Store made significant capital improvements to the facility prior to sale.
WILMINGTON, N.C. — APG Capital has sold a 93,508-square-foot industrial building located at 3881 U.S. Highway 421 N in Wilmington. Fayetteville, N.C.-based Robeson Street Properties LLC purchased the asset for $11.9 million. Ferguson Enterprises, a wholesaler of plumbing and HVAC products, has fully occupied the facility since 2009 and recently signed a lease extension through 2033. The sale also included a five-acre lot 3901 U.S. Highway 421 N, which has the potential for development of a 30,000-square-foot building. Both parcels combined for over 14 acres, including a 2.3-acre lay yard. An affiliate of APG Capital originally acquired the property in 2013 for $5.6 million and has conducted over $2.7 million worth of building renovations during its ownership. Don Hyneman of APG Capital oversaw a 25,000-square-foot expansion of the building in 2023. David Divine and Daniel Walser represented the seller on an internal basis in the transaction, and Coastal Legacy Real Estate represented the buyer.
ENCINO, CALIF. — CBRE has negotiated the $10 million sale of Encino Country Club Apartments, a 43-unit multifamily property located at 17000 Burbank Blvd. in Encino. Built in 1966, the three-story, 37,000-square-foot property features 36 one-bedroom units and seven two-bedroom units. Priscilla Nee and Dan Blackwell of CBRE represented the undisclosed seller and the buyer, a private investor that plans to implement a value-add program, in the deal. Gianna Novo, also with CBRE, arranged an acquisition loan for the buyer that covered 83 percent of the cost.
LOS ANGELES — Progressive Real Estate Partners has brokered the $3.5 million sale of a 6,300-square-foot retail strip center located at 728 E. Vernon Ave. in Los Angeles. The center is anchored by 7-Eleven, with Boost Mobile and a laundromat serving as the other tenants at the property, which was built in 2000. The buyer and seller were both Los Angeles County-based private investors that requested anonymity. Brad Umansky and Lance Mordachini of Progressive Real Estate represented both parties in the deal.
PHOENIX — Stos Partners has sold a 94,186-square-foot industrial building located at 1002 S. 54th Ave. in Phoenix to ViaWest Group for an undisclosed price. Copper State Bolt & Nut Co. fully occupies the building, which was originally built on 4.2 acres in the early 1990s and most recently renovated in 2023. The property features 7,000 square feet of office space, 24-foot clear heights, 17 dock-high doors, two grade-level doors, a fenced and secured yard, LED lighting and ample parking. Phil Haenel, Will Strong, Foster Bundy and Katie Repine of Cushman & Wakefield, along with Anna Josephson of KBC Advisors, represented the seller in the transaction. Mike Haenel and Andy Markham of Cushman & Wakefield also advised on the deal.
EPHRATA, PA. — New Jersey-based brokerage firm The Kislak Co. has arranged the $11.7 million sale of Stonecreek Court Apartments, a 60-unit multifamily property in Ephrata, located west of Philadelphia in Lancaster County. Built on 6.2 acres in 2008, the five-building property features a mix of one-, two- and three-bedroom units. Matt Wolf of Kislak represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
CHICAGO — SVN Chicago Commercial has brokered the $3.4 million sale of an 11-unit apartment building in Chicago’s Pilsen neighborhood. The property is located at 1800 S. Carpenter St. Paul Cawthon and Angelo Labriola of SVN represented the buyer and seller. The out-of-state buyer secured a Freddie Mac SBL loan.
AUBURN, ALA. — Muinzer, alongside capital partner T2 Capital Management, has acquired Evergreen Auburn, a 486-bed student housing community located near Auburn University in Alabama. The property was recently renovated and offers units in one-, two- and four-bedroom configurations. Shared amenities include a 24-hour fitness center, swimming pool, computer lounge, clubhouse, dog park, hot tub, fire pit and a coffee bar. The student housing community is 88 percent preleased for the 2024-2025 academic year. Terms of the transaction and the seller were not disclosed.
