WEST PALM BEACH, FLA. — Plaza Advisors has brokered the sale of Paradise Place, a 72,961-square-foot shopping center located on an 8.5-acre site in West Palm Beach. Built in 2003, the center was 98 percent leased at the time of sale to tenants including Publix, Sage Dental, Dunkin’ and Goodwill. Jim Michalak and Jeff Berkezchuk of Plaza Advisors represented the seller, Collett Capital, in the transaction. Forge Capital Partners purchased Paradise Place for an undisclosed price.
CORONA DEL MAR, CALIF. — Corona Del Mar-based Hanley Investment Group Real Estate Advisors has brokered the sales of seven net-leased retail properties totaling $18.4 million on behalf of a Minnesota-based 1031 exchange buyer. Jeff Lefko and Bill Asher of Hanley Investment Group represented the buyer in the transactions, which included a mix of newly constructed single-tenant and multi-tenant assets. Midwest transaction highlights include a 4,616-square-foot property occupied by Total Access Urgent Care in Oakville, Mo., and a 7 Brew ground lease in Des Moines, Iowa. Hanley Investment Group represented the buyer and sellers in association with John Shuff of Pace Properties and ParaSell Inc. for the Missouri and Iowa properties, respectively.
LEWISVILLE, TEXAS — Cushman & Wakefield has brokered the sale of Heritage Towers, a 282-unit apartment complex located in the northern Dallas suburb of Lewisville. Completed in 2023, the property offers one- and two-bedroom units and amenities such as a pool, fitness center, dog park, clubhouse with a coffee bar and outdoor grilling, dining and gaming areas. Asher Hall and Grant Raymond of Cushman & Wakefield represented the seller, Dallas-based Huffines Communities, in the transaction. The buyer and sales price were not disclosed.
LAS VEGAS — Newport Beach, Calif.-based Buchanan Street Partners has acquired a newly constructed self-storage facility located at 310 Rock Springs Drive in Las Vegas. The project’s developer sold the asset for $21.8 million in an off-market transaction. Totaling 103,570 square feet, the three-building property offers 917 self-storage units. The Class A facility features a mix of interior climate-controlled units and drive-up access options spread across three-story buildings. Buchanan acquired the property at certificate of occupancy upon construction completion. The company is an active self-storage investor throughout the Western United States, including recent transactions in California and Arizona.
WEST COVINA, CALIF. — Marcus & Millichap has arranged the sale of Fernwood Terrace Apartments in West Covina. A private investor acquired the asset from Fernwood Terrace Apartments LLC for $9.5 million. Gordon Reese of Marcus & Millichap represented the seller, while Tyler Leeson and Drew Holden of Marcus & Millichap represented the buyer in the deal. Located at 712 S. Fernwood St., Fernwood Terrace Apartments features 30 studio, one-, two- and three-bedroom floor plans with 24 of the units fully renovated. The community offers a swimming pool, onsite laundry, controlled access and 43 parking spaces.
TACOMA, WASH. — Realterm, an independent global investment manager focused on the transportation industry, has acquired 1955 Lincoln Avenue, a truck terminal in Tacoma. Terms of the transaction were not released. The purchase represents Realterm’s ninth high flow through (HFT) industrial property in the greater Seattle/Tacoma region. The property includes an 8,600-square-foot warehouse and 1,100 square feet of office space situated on 2.4 acres of fully paved, lit and secured land. The truck terminal features 29 dock doors with a grade-level loading ramp, as well as additional space for trailer parking. The asset is located in the Port of Tacoma’s Heavy Haul Industrial Corridor, which permits vehicles weighing up to 98,000 pounds. The location offers immediate access to the Port of Tacoma shipping terminals and the Union Pacific Intermodal facility.
OSHKOSH, WIS. — NAI Pfefferle has brokered the sale of a 21,000-square-foot flex industrial building located at 2080 W. 20th Ave. in Oshkosh. The sales price was undisclosed, but the asking price was $1.6 million. John Roberts of NAI Pfefferle brokered the transaction. Buyer and seller information was not provided.
BOSTON — Newmark has brokered the sale of 343 Congress Street, a 114,677-square-foot office property in the Boston Seaport District. The five-story building, which is a historic structure that was originally built in 1888, is anchored by pet products e-commerce retailer Chewy and also houses two ground-floor restaurants. Robert Griffin, Edward Maher, Matthew Pullen, James Tribble, Samantha Hallowell and William Sleeper of Newmark represented the seller, BentallGreenOak (BGO), in the transaction and procured the buyer, North Colony Asset Management.
FAIRFIELD, N.J. — Lee & Associates has negotiated the $3.6 million sale of a 34,445-square-foot office building located in the Northern New Jersey community of Fairfield. The three-story building at 383 U.S. Route 46 was originally constructed on 1.6 acres in the 1970s and has been owner-occupied since 1985. Peter Rasmusson of Lee & Associates represented the seller, The Glassman Family, in the transaction, and procured the buyer, an entity doing business as Fairfield Real Estate LLC.
ATLANTA — Affordable housing is facing a tumultuous second half of the year. Tariffs on building materials such as lumber, steel and aluminum are slowing development activity as they elevate construction costs. Investment sales are also likely to be impacted by unstable economic conditions in the affordable housing sector, where many transactions are conducted within a limited budget due to the nature of income restrictions for renters. Amid high costs and trade uncertainty, many investors are making the decision to stay on the sidelines or invest in markets with more stable conditions. Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements about specific events, visit www.interfaceconferencegroup.com/subscribe. “The most experienced, best qualified buyers are being careful about what they purchase,” said Kyle Shoemaker, a managing director at Affordable Housing Investment Brokerage. The Downers Grove, Illinois-based company arranges acquisitions and dispositions of Section 8, Section 42, low-income housing tax credit (LIHTC) and tax credit housing. “The affordable housing sector was heated in 2021,” Shoemaker continued. “At that point in time, we were getting more calls than ever from multifamily investors who were interested in entering the affordable …
