ARLINGTON, TEXAS — Bradford Commercial Real Estate Services has arranged the sale of an 18,000-square-foot industrial building located at 800-810 N. Great Southwest Parkway in Arlington. The building was originally constructed in 1968. Michael Spain, Jason Finch and Chris Wong of Bradford represented the seller, an entity doing business as CanTex800 LLC, in the all-cash transaction. The buyer was Panamint Holdings LLC.
NEW YORK CITY — Global alternative investment firm Investcorp has purchased a portfolio of five industrial buildings totaling 435,000 square feet on Long Island. The buildings are scattered across the Suffolk County communities of Bayshore, Bayport and Ronkonkoma. Buildings range in size from 33,000 to 128,600 square feet and comprise single-story warehouse, cold storage and manufacturing facilities with clear heights ranging from 18 to 40 feet. Four of the buildings were fully leased to single tenants at the time of sale, and the fifth was recently vacated and will be redeveloped. Gary Gabriel, Kyle Schmitt, Ryan Larkin, Bill Baunack, Seth Zuidema and Tom DeLuca of Cushman & Wakefield represented the seller, a partnership between Metropolitan Realty Associates and TPG Angelo Gordon, in the transaction.
KINGSTON, N.Y. — CBRE has negotiated the $36.5 million sale of two retail buildings in Kingston, about 100 miles north of New York City. The buildings are located within Hudson Valley Plaza and are leased to Lowe’s and Sam’s Club, both of which have been tenants at the 673,000-square-foot shopping center since 1996. Jeffrey Dunne, David Gavin and Travis Langer of CBRE represented the seller, United Hampshire REIT US, in the transaction and procured an undisclosed institutional investment firm as the buyer.
NEWARK, N.J. — Newark-based PGIM Real Estate has sold a seven-property portfolio of grocery-anchored shopping centers in Florida. The buyer purchased the portfolio, which spans 608,314 square feet of retail space, for $223.9 million. Danny Finkle, Eric Williams, Jorge Portela and Kim Flores of JLL represented PGIM in the disposition. The buyer was not disclosed, but Business Observer reports that Publix Super Markets bought the portfolio from PGIM. The assets in the portfolio include Crestwood Square in Royal Palm Beach; Davie Shopping Center and Regency Square in Davie; Gladiolus Gateway in Fort Myers; Town Center at Orange Lake and Village Shops at Bellalago in Kissimmee; and Woods Walk Plaza in Lake Worth.
MELBOURNE, FLA. — TSCG has brokered the $16.5 million sale of Causeway Shopping Center in Melbourne, a city on Florida’s Space Coast. Ross Dress for Less, Michaels and Bealls anchor the 111,816-square-foot property. Anthony Blanco of TSCG represented the seller, a joint venture between Forge Capital Partners and The Sembler Co., in the transaction. Darrell Deshaw of Western Retail Advisors represented the California-based buyer. Originally built in 1966 and renovated in 2008, Causeway Shopping Center was 85 percent leased at the time of sale.
NORTH CHARLESTON, S.C. — Marcus & Millichap has negotiated the $7.6 million sale of two apartment communities in North Charleston. The properties include The Edge on Noisette Creek at 1005 Buist Ave. (32 units) and South Circle at 1079 Bexley St. (14 units). Both properties were built in the 1970s. Ryan Lipomi, William Graves and Nate McDaniel of Marcus & Millichap’s Charleston office marketed the properties on behalf of the seller and procured the buyer, both of which requested anonymity. Bobby Werhane of Institutional Property Advisors’ Charlotte office arranged an undisclosed amount of acquisition financing for the buyer.
SAMMAMISH, WASH. — Security Properties has acquired SKY Sammamish, an apartment community located along 228th Avenue in the Seattle suburb of Sammamish, for $70.2 million. Built in 2018, SKY Sammamish offers 159 apartments. Security Properties Residential, an affiliate of Security Properties, will manage the asset. With this transaction, Security Properties now owns 28 assets and more than 6,400 units in the greater Seattle marketplace.
OCEANSIDE, CALIF. — PRDO Retail Investors LP (A&C Properties, a private investment firm based in Phoenix, Ariz.) has completed the disposition of Plaza Rancho Del Oro, a neighborhood shopping center in Oceanside, to Lotfi and Flora Mehdian for $34.3 million. Located at 4120-4196 Oceanside Blvd., Plaza Rancho Del Oro features 65,054 square feet of retail, restaurant and service-retail space. Built in 1989, the property consists of eight buildings and more than 400 parking spaces. At the time of sale, the property was 92 percent occupied by a variety of tenants, including Starbucks Coffee, My Salon Suites, Upper Crust Pizza, Wells Fargo and Carl’s Jr. Currently, the property consists of 29 local and national retailers. Jimmy Slusher, Philip Voorhees, James Tyrrell, Megan Lanni, Reg Kobzi, Joel Wilson, Michael Peterson and Lane Robertson of CBRE’s National Retail Partners represented the seller in the deal.
DENVER — Pinnacle Real Estate Advisors has arranged the sale of Eliot Flats, a multifamily property located at 3233 Eliot St. in Denver. The asset traded for $8.8 million, or $220,000 per unit. Built in 2015, Eliot Flats offers 30 studio units and 10 one-bed/one-bath units. The property features a solar power system, Smart Water metering, and energy-efficient windows and finishes. Jim Knowlton of Pinnacle represented the undisclosed buyer in the deal. The name of the seller was not released.
BELVIDERE, ILL. — Cawley Commercial Real Estate (Cawley CRE) has brokered the sale of 140 acres in Belvidere, about 13 miles east of Rockford. A leading Fortune 500 company purchased the site with plans to build a 1.2 million-square-foot freezer cooler facility. Project costs are estimated at $1 billion. The project will include more than 1,000 trailer stalls as well as automation technology and will support the delivery of fresh and frozen food products across the Midwest. Completion is slated for 2027. David Conroy of Cawley CRE brokered the transaction.