BLOOMINGTON, MINN. — MLG Capital has acquired Hampshire Technology Center in the Minneapolis suburb of Bloomington for an undisclosed price. The Class B flex industrial property totals more than 144,000 square feet across 14 acres. MLG acquired the asset in partnership with Hoyt Properties and plans to make interior renovations. Hampshire Technology Center marks MLG’s 25th investment in metro Minneapolis and the 11th acquisition within its MLG Private Fund VI, which launched in May 2022.
MOKENA, ILL. — Marcus & Millichap has arranged the $4.1 million sale of a single-tenant industrial building in Mokena, a southern suburb of Chicago. The 39,816-square-foot property is located at 9860 Clearvue Court in Will County. Built in 2006, the facility features a clear height of 28 feet, seven drive-in doors and one dock. Colony Hardware, a national provider of tools, equipment, supplies, products and rental/repair services to commercial construction and industrial industries, fully occupies the property. Brent Holder and Peter Doughty of Marcus & Millichap represented the seller, a private investor. Buyer information was not provided.
PISCATAWAY, N.J. — JLL has brokered the $26.5 million sale of a 101,381-square-foot warehouse located at 100 New England Ave. in the Northern New Jersey community of Piscataway. The industrial facility sits on eight acres and features a clear height of 24 feet, six loading docks and one drive-in door. Marc Duval, Jordan Avanzato, Frank Recine, Nicholas Stefans, Jason Lundy and Jose Cruz of JLL represented the undisclosed seller in the transaction. The buyer was also not disclosed.
STRATFORD, CONN. — Northeast Private Client Group (NEPCG) has arranged the $23 million sale of a portfolio of two multifamily properties totaling 129 units that are located in the southern coastal Connecticut community of Stratford. Sherwood Square features 105 units in studio, one- and two-bedroom floor plans. Avon Apartments consists of 24 units, the majority of which are one-bedroom residences. Brad Balletto and Robert Paterno of NEPCG represented the seller, New Jersey-based Navarino Properties, in the transaction, and procured the buyer, Maple Leaf.
MT. JULIET, TENN. AND STATESVILLE, N.C. — GTIS Partners has purchased two warehouses located in Tennessee and North Carolina for more than $100 million. Together, the properties comprise 943,030 square feet. The seller(s) was not disclosed. Located in the Nashville suburb of Mt. Juliet, the first warehouse, Midway 840, totals 643,410 square feet and was leased to a global third-party logistics company at the time of sale. The second warehouse is located at 607 Meacham Road in Statesville, which is roughly 40 miles north of Charlotte, and totals 309,620 square feet. Dura Supreme, a Minnesota-based cabinet manufacturer, occupies 607 Meacham Road. The site features an additional 105,000 square feet for potential development.
FORT MILL, S.C. — A partnership between Highline Real Estate Partners and Growth Capital Partners (GCP) has acquired an industrial warehouse located at 4140 Pleasant Road in Fort Mill, approximately 20 miles southwest of Charlotte. The seller and sales price were not disclosed. Built in 2013, the building totals 478,400 square feet on 53.4 acres, with eight acres available for expansion. Child safety product manufacturer Britax Child Safety Inc. occupies the property, which was constructed as a build-to-suit project for the company and features 40,000 square feet of office space and a 49,560-square-foot air-conditioned component test area. GCP arranged the purchase on behalf of the partnership, which plans to develop an additional 200,000 square feet at the property. Casey Masters of Cushman & Wakefield represented the seller, an entity doing business as Charlotte IND TT LP, in the transaction.
FORT MILL, S.C. — Knightvest Capital has acquired The Apartments at Brayden, a 332-unit, garden-style multifamily community located in Fort Mill, approximately 20 miles southwest of Charlotte. The seller and sales price were not disclosed. Built in 2016, the property comprises apartments in one-, two- and three-bedroom floor plans. Amenities at the community include a swimming pool, fitness center and clubhouse. The Apartments at Brayden marks Knightvest’s fifth acquisition in metro Charlotte since 2020.
SWEDESBORO, N.J. — CBRE has brokered the $13 million sale of a 119,000-square-foot light industrial building in Swedesboro, about 25 miles south of Philadelphia. The single-tenant building sits on 12 acres and houses the corporate headquarters and distribution center of Thomas Scientific, a supplier of lab equipment. Stephen Marzullo, Adam Silverman, Michael Hines, Brian Fiumara, Brad Ruppel, Joe Hill and Lauren Dawicki of CBRE represented the seller, Newvine Corp., in the transaction. The buyer was New Jersey-based investment firm Faropoint.
LOWELL, IND. — Marcus & Millichap has arranged the sale of a two-tenant retail property occupied by Advance Auto Parts and Subway in Lowell, a city in Northwest Indiana. The sales price and seller were undisclosed. The 36,155-square-foot building is located at 1729 E. Commercial Ave. Joseph Van Vuren and Nicholas Kanich of Marcus & Millichap represented the buyer, a local private investor. Josh Caruana of Marcus & Millichap assisted in closing the transaction as the broker of record in Indiana.
FRANKLIN PARK, ILL. — Clear Height Properties has acquired an 18,800-square-foot industrial service facility (ISF) located at 9211 Gage Ave. in the Chicago suburb of Franklin Park. The sales price was undisclosed. ISFs are used to store, maintain or dispatch vehicles, equipment and materials. The property features a 30 percent building-to-land ratio, four drive-in doors and a fully gated and secured parking area for a fleet of field service vehicles. Ryan Widerberg of eXp Realty brokered the sale. Clear Height hired Jason Lev and Jimmy Kowalczyk of CBRE to market the property for lease.
