GEORGETOWN, TEXAS — Houston-based owner-operator CityStreet Residential Partners has purchased Stone Oak Ranch RV Resort, a 224-site property located north of Austin in Georgetown. The Boterra Group originally constructed the park in October 2020. Amenities include a pool, fitness center, dog park, playground, pickleball courts and onsite laundry facilities. CityStreet plans to rebrand the property under its Jetstream umbrella and develop an additional 200 sites.
MIDLAND AND ODESSA, TEXAS — Matthews Real Estate Investment Services has brokered the sale of a portfolio of seven industrial buildings totaling 93,000 square feet in the West Texas cities of Midland and Odessa. The portfolio was fully leased to seven tenants, including Rexel, Interstate Batteries and North Basin Coating, at the time of sale. Michael Kelleher and Jeff Miller of Matthews brokered the deal. The buyer and seller were not disclosed.
FORT STOCKTON, TEXAS — Partners Real Estate has negotiated the sale of an 8,000-square-foot retail property that is leased to Dollar General in the West Texas city of Fort Stockton. According to LoopNet Inc., the freestanding, single-tenant building at 1001 W. Dickinson Blvd. was originally constructed in 1994. The buyer and seller were both Houston-based investment firms that requested anonymity. Evan Altemus of Partners brokered the deal.
SPRING, TEXAS — Dallas-based investment sales brokerage firm STRIVE has arranged the sale of Gosling Green, a 7,391-square-foot retail strip center in Spring, a northern suburb of Houston. The property was fully leased at the time of sale. Jake Dutson of STRIVE represented the seller in the transaction and Hudson Lambert, also with STRIVE, represented the buyer. Both parties were private investors that requested anonymity.
SANTA FE SPRINGS AND BREA, CALIF. — Staley Point Capital and Bain Capital Real Estate have completed the sale of two industrial properties in Southern California for $54 million, or $339 per square foot. The properties are a 58,000-square-foot industrial facility at 10907 Painter Ave. in Santa Fe Springs and a 100,000-square-foot building with 22-foot clear heights and four dock-high positions at 331 Cliffwood in Brea. Both are in suburbs to the southeast of Los Angeles. The joint venture originally acquired the assets in separate transactions in 2021. Latham & Watkins LLP served as legal counsel to Staley Point Capital for the transaction. Eastdil Secured served as the financial advisor, and The Klabin Co. provided local market advisory services.
FLAGSTAFF, ARIZ. — Olympus Property has purchased Trailside Apartments, a multifamily community in Flagstaff. Terms of the transaction were not released. This acquisition expands Olympus’ presence in Flagstaff, where the company also owns Mountain Trail Apartments. Built in 2020, Trailside Apartments features 111 studio, one- and two-bedroom floor plans, ranging from 463 square feet to 951 square feet. Apartments offer nine-foot ceilings, hardwood floors, stainless steel appliances, private balconies and patios, in-unit washers/dryers and detached garages in select units. Community amenities include a clubhouse, business center, fitness center, steam room and outdoor fireplace.
TUCSON, ARIZ. — Propeller Properties LLC has acquired Halmark Apartments, a multifamily property in Tucson. AZBAHAY LLC sold the asset for $2.3 million. Located at 3130 E. 4th St., the building features 12 apartments. Allan Mendelsberg and Joey Martinez of Cushman & Wakefield | PICOR represented both parties in the transaction.
TETERBORO, N.J. — San Francisco-based Prologis has acquired a 125,500-square-foot industrial property in the Northern New Jersey community of Teterboro. The property features 15 loading docks, four drive-in doors, clear heights of 14 to 16 feet, parking for over 125 cars and nearly 60 trailers and 18,516 square feet of office space. Thomas Vetter, Jeffrey DeMagistris and Gary Sauerborn of NAI James E. Hanson represented the seller, Marschall Partners LP, in the transaction. The sales price was not disclosed.
PENNSAUKEN, N.J. — Colliers has brokered the $10.2 million sale of a 104,500-square-foot industrial flex facility located in Pennsauken, located just outside of Philadelphia in Southern New Jersey. The property was fully leased to American Furniture Rentals at the time of sale. The buyer was a private equity group with significant holdings in the Mid-Atlantic region. The seller was undisclosed. Eric Grad of Colliers represented both sides in the deal.
BLOOMINGTON, ILL. — AXIS 360 Commercial Real Estate Specialists has brokered the $3.3 million sale of the former Ovation 10 Entertainment Complex in the Chicago suburb of Bloomington. Located at 415 Detroit Drive, the property originally opened as Carmike Cinemas in 1999 and was renovated in 2015 to include a full-size kitchen and bar with in-theater dining service. The Ovation Cinema Grill closed at the start of the pandemic and never reopened after parent company, New Vision Theaters, filed for bankruptcy. Michael O’Neal and Meghan O’Neal-Rogozinski of AXIS 360 represented the seller, NV Propco Acquisition. Sherye Przybyla of Berkshire Hathaway Home Services represented the buyer, FMB Holding Inc.
