Acquisitions

Ian Black Real Estate Brokers $8.2M Sale of Retail Center in Sarasota, Florida

by John Nelson July 12, 2023

SARASOTA, FLA. — Ian Black Real Estate has brokered the $8.2 million sale of Crowder Plaza, a 25,000-square-foot retail center located at 2507 Lakewood Ranch Blvd. in Sarasota. Shadow-anchored by Ace Hardware, the center was fully leased at the time of sale to tenants including Big Top Brewery, Goodwill, The Granary, Blossom Nails, The Boutique Out East, Premier Tackle and Domino’s Pizza. George Brusco of Ian Black Real Estate represented the seller, an entity doing business as Crowder Enterprises LLC, in the transaction. Marny Lewis of Berkshire Hathaway HomeServices, Florida Realty represented the buyer, an entity doing business as Crowder Village LLC. Brusco has managed the leasing for Crowder Plaza since 2014.

July 12, 2023

Acquisitions Industrial Texas

Westcore Acquires 301,120 SF Distribution Center in Rockwall, Texas

by Taylor Williams July 12, 2023

ROCKWALL, TEXAS — San Diego-based investment firm Westcore has acquired Rockwall Distribution Center, a 301,120-square-foot industrial property located on the eastern outskirts of Dallas. Building features include 32-foot clear heights, 185-foot truck court depths, ESFR sprinklers, 68 dock-high loading doors and 62 trailer parking spots. Dustin Volz, Stephen Bailey and Dom Espinosa of Newmark, along with Matt Dornak and Ryan Wolcott of Stream Realty Partners, represented the undisclosed seller in the transaction. The facility was roughly 70 percent leased at the time of sale to an unnamed tenant.

July 12, 2023

Acquisitions Northeast Pennsylvania Retail

James Balliet Property Group Negotiates Sale of 225,000 SF Shopping Center in Quakertown, Pennsylvania

by Taylor Williams July 12, 2023

QUAKERTOWN, PA. — The James Balliet Property Group, a division of brokerage firm Keller Williams Real Estate, has negotiated the sale of Richland Plaza, a 225,000-square-foot shopping center located in the Lehigh Valley city of Quakertown. Velocity Venture Partners acquired the property for $16.7 million and plans to implement a redevelopment, specific details of which were not disclosed. Tenants at the center, which is situated on 20 acres, include Wells Fargo, Ollie’s Bargain Outlet and Pearle Vision Center. James Balliet represented the seller, APS Associates, in the transaction.

July 12, 2023

Acquisitions Industrial New Hampshire Northeast Self-Storage

Marcus & Millichap Brokers Sale of 35-Unit Self-Storage Facility in Farmington, New Hampshire

by Taylor Williams July 12, 2023

FARMINGTON, N.H. — Marcus & Millichap has brokered the sale of Farmington Self Storage, a 35-unit facility located near the New Hampshire-Maine border. The facility was built on 3.3 acres in 1995 and totals 7,647 net rentable square feet. Luke Dawley, Nathan Coe, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the undisclosed seller in the transaction. The buyer, which was also undisclosed, plans to expand the facility by about 14,000 net rentable square feet. Occupancy was 100 percent at the time of sale.

July 12, 2023

Acquisitions Florida Office Southeast

Ashkenaz Purchases 61,702 SF Beachway Professional Center Office Building in Bonita Springs, Florida

by John Nelson July 11, 2023

BONITA SPRINGS, FLA. — Ashkenaz USA has purchased Beachway Professional Center, a 61,702-square-foot office building located on Bonita Beach Road Southwest in Bonita Springs. Rainer Filthaut of International Realty Corp. represented Ashkenaz in the $14.4 million transaction. Dave Wallace and David Wallace of CRE Consultants represented the undisclosed seller and will continue to manage leasing at the property, which was fully occupied at the time of sale.

July 11, 2023

Acquisitions Hospitality Louisiana Southeast

Marcus & Millichap Brokers $4.5M Sale of Travelodge Hotel in Metro New Orleans

by John Nelson July 11, 2023

HARVEY, LA. — Marcus & Millichap has brokered the $4.5 million sale of Travelodge by Wyndham – New Orleans, a 212-room hotel located in Harvey, roughly seven miles outside downtown New Orleans. Constructed in 1971 on 3.8 acres at 2200 Westbank Expressway, the hotel comprises 125,539 square feet. David Altman, Adam Sklaver and Philip Kates of Marcus & Millichap marketed the property, which sold in auction, on behalf of the seller, New York-based Hong Park.

July 11, 2023

CP-Frankford-Trade-Center-Carrollton-Texas

Acquisitions Industrial Texas

Cawley Partners Buys 187,424 SF Industrial Property in Carrollton, Texas

by Taylor Williams July 11, 2023

CARROLLTON, TEXAS — Locally based investment and development firm Cawley Partners has purchased CP Frankford Trade Center, a 187,424-square-foot industrial property in the northern Dallas metro of Carrollton. At the time of sale, the property was fully leased to cosmetics provider Mary Kay, which has been a tenant since the facility was constructed in 2003. Jim Carpenter, Jud Clements, Robby Rieke, Taylor Starnes, Madeleine Supplee and Trevor Berry of Cushman & Wakefield represented the undisclosed seller in the transaction. The sales price was also not disclosed.

July 11, 2023

Acquisitions Industrial Texas

LanCarte Commercial Arranges Sale of 143,596 SF Industrial Property in Ennis, Texas

by Taylor Williams July 11, 2023

ENNIS, TEXAS — LanCarte Commercial, an investment and brokerage firm based in Fort Worth, has arranged the sale of a 143,596-square-foot industrial property in Ennis, located south of the metroplex. According to LoopNet Inc., the single-tenant property at 2708 NE Main St. was built on 8.9 acres in 1969, renovated in 2010 and features 30-foot clear heights. Sarah LanCarte, Parker LanCarte and Jenny Carlstrom of LanCarte Commercial represented the seller in the transaction. Justin Rubel of Converd Commercial represented the out-of-state buyer. Both parties requested anonymity.

July 11, 2023

Acquisitions Industrial Texas

Roof Experts Acquires 17,165 SF Industrial Flex Property in Garland, Texas

by Taylor Williams July 11, 2023

GARLAND, TEXAS — Roof Experts has acquired a 17,165-square-foot industrial flex property in Garland, a northeastern suburb of Dallas. According to LoopNet Inc., the property at 601 N. 1st St. was built in 1970 and features a 14-foot clear height. Jeff McVaney of Partners Real Estate represented Roof Experts in the transaction. Chas Lester of TIG Real Estate Services represented the undisclosed seller.

July 11, 2023

Acquisitions Northmarq Retail Texas

Northmarq Brokers Sale of 11,692 SF Retail Strip Center in Deer Park, Texas

by Taylor Williams July 11, 2023

DEER PARK, TEXAS — Northmarq has brokered the sale of The Shoppes at Town Square, an 11,692-square-foot retail strip center in Deer Park, an eastern suburb of Houston. Five tenants occupy the center. Riley Sharman of Northmarq represented the Florida-based seller in the deal. The buyer was a local 1031 exchange investor. Both parties requested anonymity. Larry Peters and Michael Borden of Northmarq arranged acquisition financing.

July 11, 2023

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