RICHMOND, TEXAS — JLL has arranged the sale of a 23,256-square-foot grocery store building in Richmond, located southwest of Houston, that is occupied by Sprouts Farmers Market. The newly constructed building is located within Waterview Town Center, a 143-acre mixed-use development. JLL represented the seller, metro Nashville-based GBT Realty, in the deal. JRW Realty represented the buyer, Southern California-based ExchangeRight.
NEW YORK CITY — A partnership between Infinite Global Real Estate Partners and Buttonwood Development has purchased an office building in Midtown Manhattan with plans to implement a residential conversion. The partnership plans to transform the building at 29 W. 35th St., which was previously foreclosed upon, into a 107-unit apartment complex in which 75 percent (80) of the units will be rented at market rates. The remaining 27 units will be reserved as affordable housing. Residences will exclusively come in studio formats and will range in size from 400 to 575 square feet. Ismael Leyva Architects is designing the conversion, and Archstone is serving as the general contractor. Allegiant is the lender, and additional equity partners include 400 Capital Management LLC, L&L Holding (also the project manager) and Terracotta Management.
LAWRENCEVILLE, N.J. — Marcus & Millichap has negotiated the $11.3 million sale of Village Square Plaza, a 53,077-square-foot retail property located in the Central New Jersey community of Lawrenceville. First Bank anchors the property, which was built on a 7.7-acre site in 1990 and was 97 percent leased at the time of sale. Additional tenants include Kumon, Eastern Dental and Princeton Brain & Spine. Alan Cafiero and Brent Hyldahl of Marcus & Millichap represented the undisclosed seller in the transaction.
MORGANVILLE, N.J. — CBRE has brokered the $6.9 million sale of an industrial outdoor storage (IOS) facility in the Central New Jersey community of Morganville. The 21,000-square-foot facility at 173 Amboy Road was originally constructed in 1988, and the property includes 4.8 acres of outdoor storage space. Liam McGregor, Mark Silverman, Brian Fiumara and Elli Klapper of CBRE represented the buyer, private industrial investment firm Genesis, in the off-market transaction. The seller was not disclosed.
RICHMOND, VA. — JLL has negotiated the sale of a six-building industrial portfolio spanning more than 1 million square feet near Richmond International Airport. The portfolio comprises Class A and B buildings that were constructed between 1971 and 1999 across three sites. The assets are situated on the eastern side of Richmond’s metropolitan area near the intersection of I-295 and I-64. Bill Prutting, Pete Pittroff, Craig Childs, Chris Dale, Dave Andrews and Ginna Wallace of JLL represented the undisclosed seller in the transaction. The sales price was also not disclosed. The buyer, Silverman Group, has tapped SL Industrial Partners to manage the portfolio.
LEXINGTON, S.C. — Marcus & Millichap has brokered the $7.2 million sale of Hope Ferry Center, a 51,749-square-foot retail center located in the Columbia suburb of Lexington. Built in 2001 on 3.5 acres, Hope Ferry Center was leased to 23 tenants at the time of sale, including McAlister’s Deli, Learning Express Toys, Snip-Its, Blush Boutique, Tulip Boutique and Regional Finance. Harrison Creason and Andrew Margulies of Marcus & Millichap represented the seller, a local family partnership that owns and manages shopping centers throughout the Southeast. The property has been under single ownership since construction.
BREA, CALIF. — CBRE has arranged the sale of an office property located at 120 S. State College Blvd. in Brea. A local private investor acquired the asset from an undisclosed seller for $19.5 million. Anthony DeLorenzo, Sammy Cemo, Bryan Johnson and Harry Su of CBRE represented the seller in the deal. Built in 1985 and renovated in 2015, the 79,528-square-foot property is situated on 2.3 acres within Brea Place. At the time of sale, the property was fully leased to six tenants, including County of Orange, Calif., CareFusion, Whittier Filtration, HdL Cos. and Yellow Box Corp.
MAGNA, UTAH — The LeClaire-Schlosser Group of Marcus & Millchap has directed the sale of Pink Door Storage & RV, a 63,630-square-foot storage facility in Magna. A local development partnership sold the asset to Zoke Group for an undisclosed price. Jordan Farrer and Adam Schlosser of Marcus & Millichap represented the seller. Constructed in 2002, Pink Door Storage & RV features 445 self-storage units spread across seven single-story buildings with 220 drive-up units. Property amenities include a gate entry with a digital keypad, an onsite management office in front of the entrance gate, 24/7 surveillance, asphalt driveways, units with roll-up doors and covered RV and boat parking.
AZUSA, CALIF. — Hanley Investment Group Real Estate Advisors has negotiated the sale of a newly renovated single-tenant restaurant property at 843 Arrow Highway in Azusa. Los Angeles-based California Icon LLC sold the asset to Glendale, Calif.-based MTSA Properties for $4.3 million. The 3,800-square-foot Starbucks Coffee-occupied building was originally constructed in 1970 and renovated in 2025 to meet the company’s newest prototype. The property features a café with interior seating, a patio and a drive-thru. The asset is secured by a new long-term absolute triple-net lease with minimal landlord responsibilities, according to Bill Asher of Hanley Investment Group. Asher and Jeff Lefko of Hanley Investment Group represented the seller, while Sheila Alimadadian of Marcus & Millichap represented the buyer in the deal.
KANSAS CITY, MO. AND OVERLAND PARK, KAN. — A group of private investors led by LANE4 Property Group has acquired three Kansas City-area shopping centers totaling 421,546 square feet previously owned by MD Management. LANE4 spearheaded the transaction and structured a recapitalization that allowed some of MD’s generational investors to remain in the partnership while other owners were able to exit. The portfolio includes Metro North Square in Kansas City, Oak Barry Center in Kansas City and West Park Shopping Center in Overland Park. The properties have been owned by members of the Morgan and Dreiseszun families since they were developed. Metro North Square totals 188,270 square feet and is 88 percent occupied. It is located on Barry Road, immediately south of the Metro North Mall redevelopment. Prominent tenants include Children’s Mercy, Power Play, The Salvation Army and Spectrum Station. Oak Barry Center spans 136,892 square feet and is 99 percent leased. The grocery-anchored center is located down the road from Metro North Square and is home to Price Chopper, Planet Fitness and Dollar Tree. West Park Shopping Center totals 96,384 square feet and is 98 percent occupied. Anchor tenants include Johnson County Community College, Catholic Charities and Save-a-Lot. Andrew …