SAN ANTONIO — JCB, an English manufacturer of heavy machinery and industrial equipment, has acquired 400 acres along State Highway 16 in San Antonio with plans to construct a production facility that could ultimately employ as many as 1,500 people. The assemblage consists of two parcels spanning 172.7 and 227.3 acres. Phil Crane and Dan Gostylo of Partners Real Estate represented the sellers in the disposition of both parcels. A construction timeline was not disclosed.
AVONDALE, ARIZ. — Berkadia has arranged the sale of Cottages at McDowell, a newly constructed, cottage-style build-to-rent community in the Phoenix suburb of Avondale. Arizona-based WS Avondale LLC sold the asset to Arizona-based CTAZ McDowell 117 LLC, an entity formed by Christopher Todd Capital, for $56.9 million, or $262,613 per unit. Located at 1350 N. 117th Ave., Cottages at McDowell features 217 one- and two-bedroom units with 10-foot ceilings, private backyards, stainless steel appliances, walk-in closets and detached garages. The community offers two swimming pools and a fitness center. Mark Forrester, Ric Holway, Dan Cheyne and Andrew Curtis of Berkadia Phoenix led the transaction on behalf of the seller.
AUBURN, WASH. — CenterPoint Properties has completed the disposition of Pike Distribution Center, an industrial building in Auburn, approximately 20 miles south of Seattle. KRL Legacy LLC, an entity of Ace Relocation System, acquired the property for $26.6 million. Kraig Heeter and Mike Newton of Kidder Mathews represented the buyer, while Matt Murray of Kidder Mathews, along with Matt Wood of KBC Advisors, represented the seller in the deal. KRL Legacy will occupy a portion of the 108,000-square-foot Pike Distribution Center, with the remaining 50,400 square feet being marketed for lease. The property offers 25-foot clear heights and secured and fenced trailer parking.
HOBOKEN, N.J. — Marcus & Millichap has negotiated the $6.1 million sale of an apartment building located at 202-204 Hudson St. in downtown Hoboken. The building consists of 13 apartments and two ground-floor retail spaces that are leased to Jersey Mike’s Subs and J & J Body Works. Devin Perez, Brent Hyldahl and Alan Cafiero of Marcus & Millichap represented the seller and procured a private investor as the buyer. Both parties requested anonymity.
NEW YORK CITY — Locally based brokerage firm Stav Equities has arranged the $5.7 million sale of two multifamily redevelopment sites in Brooklyn. The buildings at 21 Montauk Ave. and 22 Milford St. were previously used as storage facilities for a local furniture business. The buyer, Moses Rabinowitz, plans to redevelop the sites into apartment buildings totaling 96 units. Jacob Stavksy of Stav Equities represented Rabinowitz and the undisclosed seller in the off-market transaction.
BRIDGEVIEW, ILL. — Entre Commercial Realty has brokered the sale of a 43,750-square-foot industrial building in the Chicago suburb of Bridgeview for an undisclosed price. The multi-tenant property is located at 9700 Industrial Drive immediately off the four-way interchange of I-294 and 95th Street. Jeffrey Locascio and Chris Wilbur of Entre brokered the transaction. The buyer was a joint venture between Clear Height Properties and Harbert US Real Estate, an investment strategy sponsored by Harbert Management Corp. Entre has been retained to market the property for lease. The seller was undisclosed.
CHICAGO — Kiser Group has negotiated the $2.1 million sale of a portfolio of multifamily properties in Chicago’s West Garfield Park neighborhood. The newly renovated units were fully occupied at the time of sale. Jack Petrando and Noah Clark of Kiser brokered the transaction. Buyer and seller information was not provided.
CLAWSON, MICH. — Dominion Real Estate Advisors has brokered the sale of a 14,350-square-foot industrial building located at 850 N. Rochester Road in Clawson, a northern suburb of Detroit. The sales price was undisclosed. Barry Landau of Dominion represented the seller, LT Property Holdings LLC. Ernie Dearman of CLG Realty Advisory represented the buyer, OM3 LLC.
CHICAGO AND LOS ANGELES — A joint venture between Remedy Medical Properties and Kayne Anderson Real Estate has acquired a portfolio of 37 healthcare properties from Broadstone Net Lease (NYSE: BNL), a diversified real estate investment trust with an industrial focus. The properties traded hands for $252 million. JLL served as the broker for the transaction. The 37 properties were selected from a larger collection of healthcare assets designated for sale by Broadstone Net Lease. The properties are being sold as part of the REIT’s plan to focus on core net lease assets in the industrial, retail and restaurant sectors. As of March 31, industrial properties comprised 54.2 percent of the REIT’s portfolio. The portfolio totals more than 708,000 square feet across 13 states. Each property is fully leased. The assets are situated in prominent markets that include: Chicago; Houston; Charlotte, North Carolina; Indianapolis; Seattle; Milwaukee; Tampa, Florida; and Arlington, Texas. The properties are leased by health systems and physician groups such as Advocate, Emerge Ortho, Froedert Health, IU Health, Tampa General, TGH Imaging and USPI. The largest facility included in the portfolio is Ridgeway Medical Campus in Greece, New York, near Rochester. The multi-specialty outpatient medical center comprises 120,000 …
NASHVILLE, TENN. — Host Hotels & Resorts Inc. has purchased the fee simple interest in a two-hotel complex in downtown Nashville. The properties in the $530 million acquisition include 1 Hotel Nashville, a 215-room hotel, and the 506-room Embassy Suites by Hilton Nashville Downtown. Affiliates of Starwood Capital Group, Crescent Real Estate LLC and High Street Real Estate Partners sold the hotels, which they built in 2022. Situated adjacent to Bridgestone Arena and across from the Music City Convention Center, the hotels feature a combined 721 rooms averaging approximately 500 square feet in size, as well as seven food-and-beverage options, including Harriott’s Rooftop. Amenities include a spa with six treatment rooms, two fitness centers, a yoga studio and 33,000 square feet of shared meeting space, including a 9,400-square-foot ballroom and 9,300 square feet of pre-function space.