CITY OF INDUSTRY, CALIF. — Bridge Logistics Properties has acquired San Jose 2-Pack, a two-building, 450,000-square-foot industrial portfolio in City of Industry within Los Angeles’ San Gabriel Valley submarket. Terms of the transaction were not disclosed. The fully leased complex includes a 250,000-square-foot facility and a 200,000-square-foot facility. Patrick Nally, Evan Moran, Ryan Spradling, Makenna Peter and Rustin Mork of JLL represented the undisclosed seller in the the transaction.
GLENDALE, ARIZ. — Wealhouse Capital Management has sold Summers Point in Glendale for $20 million. JLL represented Wealhouse and arranged acquisition financing for the transaction. The identity of the buyer was not disclosed. Summers Point was built in 1980 and features 16 buildings across 4.3 acres with a unit mix that includes studios, one- and two-bedroom apartments averaging 572 square feet. The former owner renovated 98 of the 164 units, leaving value-add potential for future renovations on the remaining 66 units. Renovated units feature white shaker cabinetry with brushed nickel hardware, vinyl wood plank flooring, stainless steel appliances and subway tile backsplashes. JLL Capital Market’s investment sales team was led by Brian Smuckler, Jeff Seaman, Derek Smigiel and Bryson Fricke.
SAN JUAN CAPISTRANO, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the $9.2 million sale of Rancho Ortega Plaza, a 23,122-square-foot retail strip center located in San Juan Capistrano, roughly 55 miles south of Los Angeles. Starbucks Coffee anchors the two-story property, which was 89 percent leased at the time of sale. Other tenants include Tannins Wine Bar & Restaurant, Bella Nails and Ortega Dental Care. Rancho Ortega Plaza was built in 2004 on 2.2 acres. Kevin Fryman and Ed Hanley of Hanley Investment Group represented the seller, an Orange County, Calif.-based private investor. Michael Asarch of Asarch Commercial Endeavors represented the buyer, a Los Angeles-based private investor, in the transaction.
CHICAGO — Interra Realty has brokered the sale of Low-Line Commons, a 95-unit apartment complex in Chicago’s Lakeview neighborhood. Joe Smazal and Mark Dykstra of Interra represented the seller, a joint venture between Wildwood Investments and Contemporary Concepts, and the buyer, Highland Real Estate Partners. The building was 98 percent leased at the time of sale. Constructed in 2024, the property features amenities such as a lounge, coworking space, fitness center, storage lockers, a pickleball court and rooftop deck. Located on North Ashland Avenue, the asset features studio, one-, two- and three-bedroom units.
PAULDING, OHIO — Marcus & Millichap has negotiated the $2.9 million sale of Whispering Pines, a 48-unit multifamily property in Paulding, about 64 miles southwest of Toledo. All but one of the units are two-bedroom floor plans. The property also includes 67 self-storage units. Teddy Kenny, Aaron Kuroiwa and Austin Meeker of Marcus & Millichap represented the seller, Covington Properties LLC, and procured the buyer, Colarusso Properties LLC. The buyer plans to implement professional third-party property management and complete a value-add strategy by renovating unit interiors and improving operations at the property, which was built in 1989.
ALTAMONTE SPRINGS, FLA. — Franklin Street has negotiated the sale of Shoppes at Brantley Hall, a 34,460-square-foot, unanchored retail center located in Altamonte Springs, roughly 16 miles outside Orlando. Last Mile Investments purchased the property from an entity doing business as REC I/Brantley Hall LP for an undisclosed price. Zack McNamara and Tyler Hicks of Franklin Street represented the buyer in the off-market transaction. Additionally, McNamara will also handle leasing efforts at the center on behalf of Last Mile Investments. Built in 1989, Shoppes at Brantley Hall was 97 percent leased at the time of sale to tenants including Pet Supplies Plus, Orlando Health, Edward Jones and Fiesta Azul Tequila House. Last Mile Investments plans to make upgrades and continue operating the center while “maintaining the asset’s strong tenant mix and stable performance.”
ATLANTA — A partnership between locally based real estate company Third & Urban and HighBrook Investors has acquired Corporate Square, a 30-acre office park in the Brookhaven area of Atlanta, with plans to redevelop the property into a $605 million mixed-use district. Patterson Real Estate Advisory Group arranged the financing for the acquisition. The project, dubbed Northbend, is moving forward after the partnership received approval to rezone the site as a master-planned development. Third & Urban is currently in the process of securing partnerships for the initial phases of vertical construction. Construction of Northbend, which is situated between Buford Highway and I-85 near the newly opened Children’s Healthcare of Atlanta Arthur M. Blank Hospital, is scheduled to commence in summer 2026. Eight obsolete office buildings will be demolished to allow for new infrastructure and improved road networks. According to the development team, Northbend is expected to generate $8.2 million in annual tax revenue for the city upon completion, while creating more than 400 construction jobs and over 300 permanent jobs. “Northbend will transform an outdated, underutilized office park into a vibrant gathering place for the Brookhaven community and beyond,” says Hank Farmer, partner at Third & Urban. “This redevelopment is a catalyst for …
COLONIAL HEIGHTS, VA. — Charlotte-based Crescent Communities has sold AXIAL Gateway 95, an industrial property located at 16401 Walthall Industrial Parkway in Colonial Heights, a city near Richmond in Chesterfield County. The property spans more than 500,000 square feet and was fully leased at the time of sale to Hillphoenix, a subsidiary of Dover Food Retail and a leading manufacturer of commercial refrigeration systems. JLL represented Crescent Communities in the sale. LaSalle Investment Management purchased the asset for an undisclosed price. Hillphoenix’s investment at AXIAL Gateway 95 is expected to add more than 320 new jobs to the region. Financial partners for AXIAL Gateway 95 included Kyuden Urban Development America LLC, the U.S. subsidiary of Kyushu Electric Power Co. Inc. (equity) and Santander Bank (lender). The design-build team included DMA Architecture (architect), Timmons Group (civil engineer), KBD Group (general contractor) and JLL (leasing agent and capital markets advisor).
LOUISVILLE, KY. — New York City-based affordable housing developer and operator Fairstead has acquired a general partner interest in City View Park, an affordable housing community in Louisville. Via the partnership, Fairstead will assume the role of owner and property manager. The community includes 72 one-bedroom, 221 two-bedroom, 179 three-bedroom and 31 four-bedroom residences. Of the 503 total units, 468 are supported by Section 8 contracts, and all homes are governed by Low-Income Housing Tax Credit (LIHTC) affordability restrictions, reserved for residents earning no more than 60 percent of the area median income (AMI). City View Park was built in the early 1970s and renovated in 2021. Fairstead owns approximately 26,000 apartments across 28 states.
TALLAHASSEE, FLA. — Eastham Capital has sold The Monroe Apartments, a 288-unit apartment community in Tallahassee, for $47.5 million. The property was acquired in 2019 with a value-add strategy alongside partner Merion Realty Partners as part of a portfolio called Eastham Capital Fund V. The buyer’s identity was not disclosed. The Monroe includes a mix of one-, two- and three-bedroom units ranging in size from 1,095 to 1,695 square feet. Eastham Capital and Merion Realty Partners implemented a repositioning strategy that the owners say enhanced the asset’s profitability. At the time of the sale, The Monroe was approximately 95 percent occupied, with monthly effective rents having increased from $1,133 at the time of acquisition to $1,642 by the time of disposition. The Monroe, located at 2677 Old Bainbridge Road, was the first collaboration between Eastham and Merion Realty Partners.
