Acquisitions

Kite Realty, GIC Acquire Legacy West Mixed-Use Development in Metro Dallas for $785M

by John Nelson May 13, 2025

PLANO, TEXAS — A partnership between Indianapolis-based Kite Realty Group (NYSE: KRG) and Singapore’s GIC has acquired Legacy West, a mixed-use development located in Plano, for $785 million. According to Kite Realty’s first-quarter earnings report that announced the transaction, Legacy West includes 344,000 square feet of retail space, 444,000 square feet of office space and 782 multifamily units. Invesco Real Estate has been the lead equity partner in Legacy West since the project’s inception in 2014, becoming the majority owner of the development in 2019. Prism Places and Mark Masinter of Open Realty Advisors handled leasing negotiations and the curation of office tenants, retailers and restauranters at Legacy West, which is now more than 95 percent leased. Tenants at the development include Louis Vuitton, Tiffany, Gucci, Tory Burch, Watches of Switzerland, Aritzia, lululemon, Chanel Beauty, Ralph Lauren and Vuori. “We’re proud to have played a role in shaping this dynamic development — one that integrates thoughtful placemaking and a carefully curated tenant mix, designed to serve the community for years to come,” says Mark Masinter, chairman of Global Retail for Newmark. Legacy West also features more than 20 various eateries, including the development’s food hall, Legacy Hall, and newer additions …

May 13, 2025

Acquisitions Hospitality Texas

Hunter Hotel Advisors Negotiates Sale of 106-Room Hotel in North San Antonio

by Taylor Williams May 12, 2025

SAN ANTONIO — Atlanta-based brokerage firm Hunter Hotel Advisors has negotiated the sale of the 106-room Hilton San Antonio North Stone Oak hotel on the city’s north side. Rooms feature kitchenettes, and amenities include a fitness center and outdoor pool. A San Diego-based investor purchased the property from an institutional investment firm, with both parties requesting anonymity. Kami Burnette and Mason McDavid of Hunter Hotel Advisors brokered the sale. The firm’s Adeel Amin arranged acquisition financing for the deal.

May 12, 2025

Acquisitions California Industrial Self-Storage Western

Colliers Arranges $6.5M Sale of Hannigan’s Mini Storage Facility in Hollister, California

by Amy Works May 12, 2025

HOLLISTER, CALIF. — The De Jong | Becher Self Storage Team at Colliers has arranged the sale of Hannigan’s Mini Storage facility in Hollister. Mechanics Banks, as trustee for the John A Maki Trust, sold the asset to National Storage Affiliates for $6.5 million. Located at 180 San Felipe Road, the fully stabilized self-storage facility features 330 units in 29,926 rentable square feet. The property will transition to Right Space Storage management and branding at close.

May 12, 2025

Acquisitions Colorado Retail Western

Trevey Commercial Brokers Sale of 20,375 SF Retail Property in Parker, Colorado

by Amy Works May 12, 2025

PARKER, COLO. — Trevey Commercial Real Estate has arranged the sale of a retail property located at 12810 Stroh Ranch Court in Parker. Journey Church Colorado acquired the asset from AKM Family LLP for $5.5 million. Situated on 1.5 acres, the building, which is currently leased by La-Z-Boy, offers 20,375 square feet. David Marulli, Tommy Daher and Mitch Trevey of Trevey Commercial Real Estate represented the seller, while Tom Omdal and Katie Hummer of Kin Commercial represented the buyer in the deal.

May 12, 2025

Acquisitions Multifamily New Hampshire Northeast

Stubblebine Co. Arranges $31.5M Sale of Apartment Complex in Hampton, New Hampshire

by Taylor Williams May 12, 2025

HAMPTON, N.H. — Regional brokerage firm The Stubblebine Co. has arranged the $31.5 million sale of Appleton Oaks, a 113-unit apartment complex in Hampton, located near the Maine-New Hampshire border. The two-building complex was constructed in phases between 2004 and 2005. Specific information on floor plans and amenities was not disclosed. David Berman, James Stubblebine, David Stubblebine and Zack Hardy of The Stubblebine Co. represented the undisclosed seller in the transaction and procured the buyer, Seabrook Real Estate Partners.

May 12, 2025

Acquisitions Development Florida Office Southeast

Bradford Allen Acquires 18-Story Office Tower in Downtown West Palm Beach, Plans $10M Renovation

by John Nelson May 12, 2025

WEST PALM BEACH, FLA. — Bradford Allen Investment Advisors has acquired One Clearlake, an 18-story office tower located at 250 S. Australian Ave. in downtown West Palm Beach. The Chicago-based buyer plans to invest $10 million to fully renovate the 221,661-square-foot property to include a new roof, updated elevator system and fitness center, reimagined tenant lounge and a newly constructed conference center. Additionally, Bradford Allen plans to build four move-in-ready spec suites on one floor that will be ready for delivery by the fourth quarter. Situated near South Florida’s Tri-Rail and Brightline rail services, One Clearlake was originally built in 1986 and is LEED Gold- and Energy Star-certified. Christian Lee, Amy Julian, Andrew Chilgren, Tom Rappa, Matthew Lee and Sean Kelly of CBRE’s National Office Partners of Florida represented the seller in the transaction. Bradford Allen will provide asset and property management services at the property, while Jon Blunk and Laurel Oswald of TCRE will handle leasing negotiations. The transaction marks Bradford Allen’s second office acquisition in South Florida following its purchase of 350 and 450 E. Las Olas Blvd. in Fort Lauderdale in February.

May 12, 2025

Acquisitions North Carolina Retail Southeast

Cushman & Wakefield Arranges $19.9M Sale of Carmel Village Shopping Center in Charlotte

by John Nelson May 12, 2025

CHARLOTTE, N.C. — Cushman & Wakefield has arranged the sale of Carmel Village, a 53,615-square-foot retail center located in Charlotte. Situated at 7510 Pineville-Matthews Road, the center was 91 percent leased at the time of sale to tenants including Bonefish Grill, Mathnasium, Eye Care Partners, Chick-O-Rice, NY Old School Bagels and QC Tea Bar. Margaret Jones, Lane Breedlove and Miguel Alcivar of Cushman & Wakefield represented the seller, Raptor Realty Investments, in the transaction. The buyer was not disclosed.

May 12, 2025

Acquisitions Kentucky Seniors Housing Southeast

Blueprint Brokers Sale of 49-Unit Assisted Living Community in Richmond, Kentucky

by John Nelson May 12, 2025

RICHMOND, KY. — Blueprint Healthcare Real Estate Advisors has brokered the sale of a 49-unit assisted living community located in Richmond, roughly 35 miles southeast of Lexington, Ky. A Midwest-based private equity group acquired the property, which was built in 2009, for an undisclosed price. Kyle Hallion, Connor Doherty and Ryan Kelly of Blueprint represented the seller, a New York-based owner-operator, in the transaction. Both parties requested anonymity.

May 12, 2025

Acquisitions Industrial Utah Western

Walmart Purchases 1 MSF Distribution Building in Salt Lake City

by Amy Works May 9, 2025

SALT LAKE CITY — Walmart Inc. has acquired a 1 million-square-foot distribution building on nearly 60 acres in Salt Lake City. Terms of the transaction were not disclosed. Walmart Fulfillment Services was previously leasing the entire property located at 990 N. 6550 West on a long-term basis prior to the sale. Commonly known as the Salt Lake City Logistics Center, the property comprises a cross-dock industrial building with immediate freeway access, a clear height of 40 feet and immediate access to the Salt Lake City International Airport. The property was completed in 2022. Ed Lampitt, Will Strong, Jeff Chiate and Matt Leupold of Cushman & Wakefield’s National Industrial Advisory Group represented Walmart in the deal.

May 9, 2025

Acquisitions California Industrial Self-Storage Western

Joint Venture Buys 1,435-Unit Self-Storage Portfolio in San Francisco Bay Market for $44.2M

by Amy Works May 9, 2025

VALLEJO AND SONOMA, CALIF. — Harvest Properties, in joint venture with New York Life Real Estate Investors (NYLREI), has acquired two self-storage facilities in Vallejo and Sonoma in separate transactions totaling $44.2 million. In total, the properties offer 1,435 self-storage units. The joint venture has engaged Extra Space to manage both properties. The partnership purchased Best Self Storage, an 80,000-square-foot drive-up facility with 516 units at 155 Fremont Drive and Mafei Road in Sonoma, and Vallejo Self Storage, a 76,000-square-foot property with 919 climate-controlled units at 384 Fairgrounds Drive in Vallejo. The JLL Storage Capital Markets team represented the seller in the Vallejo Self Storage transaction.

May 9, 2025

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