Acquisitions

JLL Arranges $40M Sale-Leaseback of Office, TV Studio Building in West Palm Beach

by John Nelson May 5, 2025

WEST PALM BEACH, FLA. — JLL Capital Markets has arranged the $40 million sale-leaseback of 1100 Banyan, a 70,131-square-foot office and TV studio building in West Palm Beach. Simon Banke, Matt McCormack, Joe Judge and Anna Schaffer of JLL represented the seller, The E.W. Scripps Co., and procured the buyer, a joint venture between Related Ross, Wexford Real Estate Investors and Key International. Cincinnati-based Scripps is leasing the entire property from the new ownership for a minimum of 2.5 years. Completed in 2000, 1100 Banyan is a two-story building that houses Scripps’ WPTV news studio and office space. The fully leased property also includes a 170-space parking garage and 33 surface parking spaces.

May 5, 2025

Acquisitions North Carolina Retail Southeast

Cushman & Wakefield | Thalhimer Brokers $7.3M Sale of Satterfield Landing Shopping Center in Outer Banks

by John Nelson May 5, 2025

NAGS HEAD, N.C. — Cushman & Wakefield | Thalhimer’s Capital Markets Group has brokered the $7.3 million sale of Satterfield Landing Shopping Center, a 49,897-square-foot shopping center located in North Carolina’s Outer Banks region. Situated at South Croatan Highway at West Satterfield Landing Road in Nags Head, the center sits on 6.2 acres and is fully leased to T.J. Maxx, Staples and OBX Martial Arts. Clark Simpson and Erik Conradi of Thalhimer’s Virginia Beach office represented the seller, an entity doing business as Satterfield Landing LLC, in the transaction. The Overland Group was the buyer.

May 5, 2025

Acquisitions Arizona Lee & Associates Retail Western

Desert Troon Divests of Superstition Gateway Shopping Center in Mesa, Arizona for $121M

by Amy Works May 5, 2025

MESA, ARIZ. — Desert Troon Cos. (DT-SGE LLC and DT-SGW LLC) has completed the disposition of Superstition Gateway Shopping Center to an undisclosed Southern California-based family office for $121 million, or $244 per square foot. Jan Fincham, Mike Sutton and Brent Moser of Lee & Associates Arizona represented the seller in the off-market transaction. The seller was part of the original development partnership that built the shopping center almost 20 years ago. Situated on 65.7 acres at the southwest corner of US-60 and Signal Butte Road, Superstition Gateway offers 495,000 square feet of retail space, totaling 19 individual parcels. Current tenants at the 90 percent-occupied center include Super Walmart, Kohl’s, AMC Theatres, LA Fitness, Total Wine & More, Ross Dress for Less, Marshalls, Five Below, PetSmart, Panera Bread, KFC, In-N-Out Burger and Chili’s. The asset was constructed in 2006 and 2012.

May 5, 2025

Acquisitions California Retail Western

SRS, Hanley Investment Group Broker $4.7M Sale of Plumas Bank-Occupied Retail Property in Susanville, California

by Amy Works May 5, 2025

SUSANVILLE, CALIF. — SRS Real Estate Partners and Hanley Investment Group Real Estate Advisors have arranged the sale of a retail property located at 3000 Riverside Drive in Susanville. A private investment group sold the asset to a San Diego-based private investor for $4.7 million. Plumas Bank occupies the 5,440-square-foot property under a new 15-year, absolute, corporate-guaranteed triple-net lease. Situated on 1.1 acres, the property was renovated in 2021. Alexander Moore of SRS Capital Markets and Jeff Lefko of Hanley Investment Group represented the seller in the transaction.

May 5, 2025

Acquisitions Arizona Western

Coral Sea Acquires 5,584 SF Industrial Space in Tucson, Arizona

by Amy Works May 5, 2025

TUCSON, ARIZ. — Coral Sea LLC has purchased 5,584 square feet of industrial space at 3101, 3125 and 3141 E. Ajo Way in Tucson from PMC Revocable Trust and Vista Pacifica Properties for $1 million. Paul Hooker of Cushman & Wakefield | PICOR represented the buyer, while Jeramy Price of Volk Co. represented the seller in the deal.

May 5, 2025

7245-Henry-Clay-Blvd.-Liverpool-New-York

Acquisitions Industrial New York Northeast

Friedman Real Estate Arranges Sale of 583,851 SF Industrial Property in Liverpool, New York

by Taylor Williams May 5, 2025

LIVERPOOL, N.Y. — Michigan-based brokerage firm Friedman Real Estate has arranged the sale of a 583,851-square-foot industrial property in Liverpool, located just outside of Syracuse. The property at 7245 Henry Clay Blvd. previously housed a distribution facility for convenience and drugstore chain Rite Aid. According to LoopNet Inc., the property was built on 58 acres in 1978 and features a clear height of 24 feet, 35 exterior dock doors, five drive-in bays and 300 standard parking spaces. The buyer, seller and sales price were not disclosed.

May 5, 2025

Acquisitions Mixed-Use New York Northeast

Brax Realty Negotiates $8.2M Sale of Harlem, Queens Mixed-Use Portfolio

by Taylor Williams May 5, 2025

NEW YORK CITY — Locally based brokerage firm Brax Realty has negotiated the $8.2 million sale of a portfolio of five mixed-use buildings in Harlem and Queens. The properties include nine apartments and 10 commercial spaces and are located at 1873 Lexington Ave., 149 E. 116th St., 151 E. 116th St., 175 E. 116th St. and 220-20 Merrick Blvd. Alan Stenson of Brax Realty represented the seller and procured the buyers, all of which requested anonymity, in the transaction.

May 5, 2025

Acquisitions Michigan Midwest

TEI, Lormax Stern Acquire 314,438 SF Kensington Valley Outlets in Howell, Michigan

by Kristin Harlow May 5, 2025

HOWELL, MICH. — Time Equities Inc. (TEI) and Lormax Stern have acquired Kensington Valley Outlets in Howell, about 55 miles northwest of Detroit. The 314,438-square-foot outlet center was formerly known as Tanger Outlets Howell. Built in 1996, the property is home to tenants such as H&M, Old Navy, Nike Factory Store, Columbia, Banana Republic, Gap, Polo Ralph Lauren Factory Store, Famous Footwear and Eddie Bauer. The outlet center is located along the I-96 corridor and has received 1.3 million customer visits in the last year. Ami Ziff, Jonathan Kim, Grant Scott and Eli Smith represented TEI on an internal basis, and Andrew Bell, Matt Drozd, Sam Pietsch and Mark Franchini internally represented Lormax Stern. Mark Strauss of Institutional Property Advisors, a division of Marcus & Millichap, represented the undisclosed seller.

May 5, 2025

Acquisitions Industrial Michigan Midwest

DWG Capital Partners Buys 49,000 SF Michigan Industrial Portfolio in Sale-Leaseback

by Kristin Harlow May 5, 2025

KALKASKA, MICH. — DWG Capital Partners has purchased an industrial manufacturing portfolio in Northwest Michigan in a sale-leaseback with Kalkaska Screw Products. The neighboring facilities total 49,000 square feet on 13.4 acres in Kalkaska. Employee-owned Kalkaska Screw Products manufactures highly engineered machined components primarily for the automotive, aerospace and heavy truck industries. Brent Lowell of Community Choice Credit Union originated acquisition financing. Luke Timmis, Griffin Pitcher, Mark Woods and Cade Kozlowski of Signature Associates represented the seller.

May 5, 2025

Acquisitions Midwest Minnesota Multifamily

Marcus & Millichap Brokers $2.7M Sale of Multifamily Property in Maplewood, Minnesota

by Kristin Harlow May 5, 2025

MAPLEWOOD, MINN. — Marcus & Millichap has brokered the $2.7 million sale of Van Dyke Village Townhomes in the northeastern St. Paul suburb of Maplewood. The 20-unit multifamily property is located at 2191 Van Dyke St. and features two- and three-bedroom units with attached garages. Built in 2004, the asset is situated on 3.6 acres near Maplewood Mall and Keller Regional Park. Evan Miller, Chris Collins, Eric Wagner and Matthew Shide of Marcus & Millichap represented the seller, Van Dyke Street Homes LP, the original developer. Miller and Collins procured the buyer, Dadder’s Estates LLC.

May 5, 2025

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