GREENDALE, WIS. — Founders 3 Real Estate Services has brokered the $1.1 million sale of a 13,000-square-foot industrial building in Greendale, a southwest suburb of Milwaukee. The property is located at 6600 S. Industrial Loop. Paul McBride and Patti Stevens of Founders 3 represented the seller, B&H Holdings. Massimo Property Investments was the buyer.
NEW ROCHELLE, N.Y. — JLL has brokered the $22.7 million sale of The Printhouse, a 71-unit multifamily property located north of New York City in New Rochelle. Built in 2019, the property houses studio, one- and two-bedroom apartments as well as 2,700 square feet of commercial space. Amenities include a fitness center, business center, dog park and a rooftop terrace with a bar. New Jersey-based investment firm Invel Capital acquired the asset from an undisclosed seller. Jose Cruz, Steve Simonelli, Michael Oliver, Elizabeth DeVesty and Marion Jones of JLL brokered the deal.
NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has negotiated the $2.9 million sale of a six-unit apartment building located at 65 Woodhull St. in Brooklyn. The building includes two retail units. Sean Kelly, Nicole Daniggelis and Stephen Vorvolakos of Ariel Property Advisors brokered the deal. The buyer and seller were not disclosed.
BEAVERTON, ORE. — STAG Industrial has purchased Beaverton Industrial Center, a multi-tenant industrial/distribution project in Beaverton. BKM Capital Partners sold the asset for $20.6 million. Situated on 6.4 acres, the 121,426-square-foot property consists of two freestanding distribution buildings located at 5805 and 5807 SW 107th Ave. Originally constructed in the 1960s, the asset was extensively upgraded in 2021. At the time of sale, Beaverton Industrial Center was fully leased. Bryce Aberg, Jeff Chiate, Jeff Cole, Rick Ellison, Mike Adey, Zach Harman and Brad Brandenburg of Cushman & Wakefield’s National Industrial Investment Advisory Group in Southern California represented the seller. Greg Nesting, Aaron Watt and Keegan Clay of Cushman & Wakefield provided local market advisory.
KAILUA-KONA, HAWAII — SRS Real Estate Partners has arranged the sale of the leasehold interest of a two-story, multi-tenant retail and office building in Kailua-Kona. A private partnership sold the asset to a Hawaii-based private investor for $7.5 million. Built in 1997 on 1.5 acres, the 30,503-square-foot is located at 75-1000 Henry St. At the time of sale, the property was 98 percent occupied by Planet Fitness, Anderson Wealth Planning, Fidelity National Title and ProService Hawaii. Nicholas Paulic, A.J. Cordero, Matthew Mousavi and Patrick Luther of SRS represented the seller in the deal.
COSTA MESA, CALIF. — CBRE has brokered the sale of a mixed-use property located at 2027-29 Harbor Blvd. in Costa Mesa. A private investor acquired the asset from a privately held partnership for $3.2 million, or $425 per square foot. Both parties are based in Orange County. The mixed-use property features 12 residential apartments and street-front retail space spread across four buildings, totaling 7,530 square feet. The three multifamily buildings offer eight studio units, two one-bedroom units and two two-bedroom units. The property also features surface parking, a community laundry room and storage lockers. Additionally, there is a 1,942-square-foot street-front commercial building, occupied by an auto trim business. Dan Blackwell and Mike O’Neill of CBRE represented the seller and buyer in the transaction.
TUCSON, ARIZ. — Cushman & Wakefield | PICOR has arranged the sale of a 9,363-square-foot retail space located at 1028, 1034, 1040, 1046 E. Broadway Blvd. and 18, 70 and 110 S. Fremont Ave. in Tucson. Wildcat Smoke Shop Inc. acquired the property from Belmont Brothers LLC for $1.2 million. Rob Tomlinson of Cushman & Wakefield | PICOR represented the seller, while Mark Hays of Tierra Antigua Realty represented the buyer in the deal.
Location’s importance to commercial real estate has become a cliché. But in logistics and industrial considerations, the idea is new again — it’s not about where you are but where customers need to go and the primacy of transportation. If you’re not at the place and time that clients need, it doesn’t matter how theoretically fine the setting or how impressive the facilities are. “Transportation is roughly 12 times the cost of industrial real estate,” says Adam Roth, executive vice president at NAI Hiffman. Finished products, goods and materials are sent into and out of facilities over and over again. Shipping and trucking are a stiffly recurring expense and a much higher spend than real estate. “If I can impact your transportation spend, the real estate is a much smaller factor in the supply chain. If you can address the current concern of transportation, real estate rates almost doesn’t matter, due to a location’s supply chain advantages. Real estate can be one of the best ways to combat transportation costs.” The Rule of 1.5 In practical terms, customers’ plans for transportation are a series of changes, starting at factories, going to ports or warehouses for inventory, on to major and …
SALISBURY, MD. — KLNB has brokered the $14.2 million sale of College Square Shopping Center in Salisbury. Tenants at the center, which was 97 percent leased at the time of sale, include Dollar Tree, BioLife Plasma, Ace Hardware and Planet Fitness. Chris Burnham, Vito Lupo, Andy Stape and Jake Furnary of KLNB’s Retail Capital Markets team arranged the sale on behalf of the seller, Rockford Capital Partners, which has owned the property since 2015. The buyer was not disclosed.
PORT ARTHUR, TEXAS — LandPark Advisors, a Houston-based investment and management firm, has acquired Park Central Self Storage, a 312-unit facility in Port Arthur, located south of Beaumont along the Texas Gulf Coast. The facility sits on 3.8 acres and totals 48,430 net rentable square feet. LandPark, which acquired the asset in partnership with Sunset Capital, will operate the property under its Right Move Storage brand. The seller and sales price were not disclosed.