PERU, ILL. — Cawley Chicago has brokered the sale of the property formerly housing Raccuglia Law Offices and an assemblage of properties in Peru, about 100 miles southwest of Chicago. The sales price and buyer were not disclosed. The Raccuglia family hired Cawley Chicago’s Jon Chamlin to liquidate the real estate portfolio of their late father, attorney Anthony Raccuglia. Included in the sale was a development site on the corner of Rock and Maple drives that consists of 0.67 acres of commercial land. The law office, constructed in 1968, will remain the local offices of Meyers Flowers Bruno McFedron & Herrmann.
SANTA ANA, CALIF. — A joint venture between locally based investment firm Barker Pacific Group and Las Vegas-based Kingsbarn Realty Capital has purchased Griffin Towers, a 560,000-square-foot office complex in the Southern California community of Santa Ana. The joint venture purchased Griffin Towers for $82 million from institutional investment firm Blackstone, which paid $129 million for the property in 2014, according to several business publications including The Deep Dive. Built in 1987 and recently renovated, Griffin Towers consists of twin 14-story buildings that are located at 5 and 6 Hutton Centre Drive, as well as a six-story parking garage. Amenities include a conference center with a catering kitchen, a fitness center with locker rooms, multiple electric vehicle charging stations and an outdoor bocce ball court. The buildings are home to tenants such as UKG, Michael Baker International, Psomas, Nation’s Direct Mortgage, HNTB and the Ayn Rand Institute. CBRE serves as the leasing agency for Griffin Towers. Barker Pacific Group also manages the property. The new ownership plans to continue with capital improvements by adding new amenities and upgrading select office suites. Kevin Shannan, Paul Jones and Brandon White of Newmark represented Blackstone in the transaction. David Milestone and Henry Cassiday …
FORT WORTH, TEXAS — Atlanta-based investment firm MDH Partners has acquired Fort Worth Logistics Hub Building 1, a 670,914-square-foot industrial property, for $67.5 million. Built on 39 acres in 2022, the building was fully leased to Samsung SDS America at the time of sale and features 36-foot clear heights and 245 parking spaces. Eastdil Secured represented the undisclosed seller in the transaction. Joe DeHaven negotiated the deal for MDH Partners on an internal basis.
DALLAS — Locally based investment firm Apricus Realty Capital has acquired a nine-acre industrial outdoor storage facility located at 11801 C.F. Hawn Freeway in southeast Dallas. The fenced facility, which was fully leased at the time of sale, houses more than 200 truck/trailer parking spaces as well as a 12,950-square-foot building for repairs and maintenance. The seller and sales price were not disclosed.
KAUFMAN, TEXAS — SHOP Cos. has arranged the sale of The Shops at Kings Fort, a 10,763-square-foot retail strip center located on the southeastern outskirts of Dallas in Kaufman. The center was built in 2022 and was fully leased at the time of sale to T-Mobile, Wing Stop, HTeaO and Integrity Urgent Care. Tim Axilrod and Tayler Rose of the SHOP Cos. represented the seller, a local developer, in the transaction. The buyer was a private 1031 exchange investor. Both parties were Texas-based entities that requested anonymity.
CONSHOHOCKEN, PA. — The Buccini/Pollin Group, a development and investment firm with offices in Maryland and Delaware, has acquired One Tower Bridge, a 271,678-square-foot office building in the northern Philadelphia suburb of Conshohocken. Designed by Skidmore, Owings & Merrill and completed in 1989, the 15-story, riverfront building offers a fitness center, outdoor terrace and a multi-purpose room. One Tower Bridge was 92 percent leased at the time of sale, with Morgan Stanley serving as the anchor tenant. Buccini/Pollin plans to invest $9 million in capital improvements to the building. The seller and sales price were not disclosed.
PHILADELPHIA — Regional brokerage firm Scope Commercial Real Estate has negotiated the $9.3 million sale of The Yellowjacket, a 24-unit multifamily property in Philadelphia’s Fishtown neighborhood. The complex houses one- and two-bedroom units and amenities such as a fitness center and a rooftop deck, as well as 5,000 square feet of ground-floor retail space. Phil Sharrow and Fahd Malik of Scope Commercial represented the seller, a local developer that is nearing completion of the project, in the all-cash transaction. The duo also procured the buyer, a family office that purchased the asset via a 1031 exchange.
LOS ANGELES — Stockdale Capital Partners has created a new open-ended, core-plus healthcare fund that will actively pursue medical office acquisitions. The seed investment was a 147,078-square-foot medical office building located at 2100 West 3rd Street Medical Center in Los Angeles. The space is 99 percent leased to major tenants, including Children’s Hospital of Los Angeles, Providence Health & Services and AltaMed Health Services Corporation.
LOWELL, MASS. — Northeast Private Client Group (NEPCG) has brokered the $4 million sale of Middlesex Street Apartments, a 24-unit multifamily complex located in the northern Boston suburb of Lowell. The 35,475-square-foot building is located in the downtown area and includes four commercial spaces. Brad Carlson of NEPCG represented the seller and procured the buyer, both of which requested anonymity, in the transaction. The deal traded at a cap rate of approximately 7.3 percent.
COLUMBUS, OHIO — Iconic Equities has acquired a 322,840-square-foot warehouse in Southeast Columbus for an undisclosed price. The Class B property is situated on 23 acres at 3275 Alum Creek Drive near I-70 and two intermodal facilities, the CSX Intermodal and Norfolk Southern Rickenbacker Intermodal. The transaction marks Miami-based Iconic’s second acquisition in Columbus in the past year.