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Acquisitions

2640-E-26th-St-Vernon-CA
AcquisitionsCaliforniaIndustrialWestern

Apparel Wholesaler Privy Purchases 40,129 SF Industrial Property in Vernon, California

by Amy Works

VERNON, CALIF. — Privy, an apparel wholesaler, has acquired an industrial building located at 2640 E. 26th St. in Vernon. A private investment company sold the asset for $13.7 million. Privy plans to use the 40,129-square-foot property as its expanded headquarters. Anthony Bergeman, Michael Chase and Krishna Shegran of DAUM Commercial’s capital markets office in Costa Mesa represented the seller, while Steven Kim of One Commercial represented the buyer in the deal. Moon Lim and Ryan Judd of DAUM’s Los Angeles office also participated in the transaction.

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AcquisitionsGeorgiaRetailSoutheast

Cushman & Wakefield Arranges Sale of Publix-Anchored Shopping Center in Covington, Georgia

by John Nelson

COVINGTON, GA. — Cushman & Wakefield has arranged the sale of Shops at Covington Town Center, a new Publix-anchored shopping center located at 12701 Town Center Drive in Covington, about 36 miles east of Atlanta. Margaret Jones, Lane Breedlove, Adam Feinstein, Mark Gilbert and Mitchell Halpern of Cushman & Wakefield represented the owner and developer, a joint venture between The Sembler Co. and Berkeley Development, in the transaction. The duo delivered the center in 2023. The buyer and sales price were not disclosed. Shops at Covington Town Center features a 48,387-square-foot Publix store and 14,400 square feet of inline shop space. The shopping center is part of Covington Town Center, a mixed-use master-planned development that features three hotels, 350 apartments and 267 townhomes.

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AcquisitionsRetailTexas

NewQuest Arranges Sale of 139,538 SF Former Sam’s Club Store in West Houston

by Taylor Williams

HOUSTON — Locally based brokerage firm NewQuest Properties has arranged the sale of a 139,538-square-foot retail building in West Houston. The vacant building, which is part of a larger development anchored by Target, Burlington and Marshalls, sits on 12 acres and was formerly owned and occupied by Sam’s Club. John Nguyen of NewQuest Properties represented the buyer, an entity doing business as SSS Marketplace on Eldridge LLC, in the transaction. James Namken and Kyle Knight of Weitzman represented the seller.

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AcquisitionsRetailTexas

Three Pillars Capital Acquires 16,000 SF Shopping Center in Frisco

by Taylor Williams

FRISCO, TEXAS — Three Pillars Capital has acquired Shops at The Gate, a 16,000-square-foot shopping center located north of Dallas in Frisco. The center was built on two acres in 2021 and consists of two buildings that were both fully occupied at the time of sale. The center is an outparcel to Domain at The Gate, a luxury apartment development fronting John Hickman Parkway. Mike Kennedy and Darrell Betts of Avison Young represented the seller, an undisclosed foreign investment group, in the transaction.

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AcquisitionsArizonaBuild-to-RentSingle-Family RentalWestern

Inland Brokers Sale of 190-Unit Onyx at Westgate Build-to-Rent Property in Glendale, Arizona

by Amy Works

GLENDALE, ARIZ. — Inland Real Estate Acquisitions, on behalf of an Inland affiliate, has negotiated the purchase of a 190-unit build-to-rent community in Glendale. Mark Cosenza of Inland Real Estate Acquisition, with assistance from David Neboyskey of The Inland Real Estate Group law department, completed the transaction. Renamed Onyx at Westgate, the property features 58 one-bedroom, 85 two-bedroom and 47 three-bedroom bungalows, all rising one story. Each unit offers upscale amenities, including gourmet kitchens, oversized windows, 10-foot ceilings, wood plank LVT flooring, high-end finishes and a smart-home technology package. The community features a resort-style pool and spa, outdoor firepits, a community lawn area, fitness center, dog park, clubhouse, covered parking and optional garages for residents. Developed in 2022, Onyx at Westgate was 92 percent occupied at the time of closing.

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1804-1828-E-Elma-Ct-Ontario-CA
AcquisitionsCaliforniaIndustrialWestern

36th Street Partners Purchases 17,360 SF Multi-Tenant Industrial Property in Ontario, California

by Amy Works

ONTARIO, CALIF. — 36th Street Partners has acquired a multi-tenant industrial property, located at 1804-1828 E. Elma Court in Ontario, from a private investor for $3.5 million. Built in 1982 on 1.3 acres in the Inland Empire region, the 17,360-square-foot property includes 13 units that are 100 percent occupied with tenants using the spaces for office and warehouse purposes. JW Capital is 36th Street’s equity partner on the deal. Brian Tressen of Martin Associates represented 36th Street Partners.

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AcquisitionsArizonaRetailWestern

Mister Car Wash Buys Property in Tucson for New Location

by Amy Works

TUCSON, ARIZ. — Mister Car Wash has purchased a property, located at 5523 E. Grant Road in Tucson, from Nam Nguyen Inc. for $1.2 million. The buyer plans to redevelop the property into a new car wash location, scheduled to open in late 2024. Aaron LaPrise of Cushman & Wakefield | PICOR represented the buyer and seller in the deal.

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AcquisitionsIndustrialNortheastPennsylvania

JLL Arranges $78.5M Sale of Distribution Center in Mechanicsburg, Pennsylvania

by Taylor Williams

MECHANICSBURG, PA. — JLL has arranged the $78.5 million sale of an 812,425-square-foot distribution center in Mechanicsburg, located just outside of Harrisburg in the central part of the Keystone State. The facility was built on 44.3 acres in 2002 and offers 182 dock-high doors, two drive-in doors, 329 parking spaces, 109 trailer stalls and 195-foot truck court depths. John Plower and Ryan Cottone of JLL represented the undisclosed seller and procured the buyer, a joint venture between Lightstone and an affiliate of Cerberus Capital Management, in the transaction. Peter Rotchford, Andrew Scandalios, Michael Pagniucci and Tyler Peck of JLL arranged a $65 million acquisition loan through Argentic Investment Management on behalf of the new ownership.

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Avon-Innovation-Center-Suffern-New-York
AcquisitionsLife SciencesNew YorkNortheast

Regeneron Pharmaceuticals Buys 235,000 SF Life Sciences Facility in Suffern, New York

by Taylor Williams

SUFFERN, N.Y. — Regeneron Pharmaceuticals (NASDAQ: REGN) has purchased Avon Innovation Center, a 235,000-square-foot life sciences facility in Suffern, located just across the New York-New Jersey border. The seller, pharmaceutical company Avon, will be vacating the building in the near future. Larry Carroll, Shawn Straka, David Bernhaut, Frank DiTommaso and Seth Zuidema of Cushman & Wakefield, along with Michael Katz of Actio Corporate Advisors, represented Avon in the transaction. Dan Loughlin and Matt Loughlin of JLL represented Regeneron.

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AcquisitionsIndustrialMidwestMinnesota

Marcus & Millichap Arranges $1M Sale-Leaseback of Industrial Facility in Becker, Minnesota

by Kristin Harlow

BECKER, MINN. — Marcus & Millichap has arranged the $1 million sale-leaseback of a 14,380-square-foot industrial facility in Becker, about 47 miles northwest of Minneapolis. The property is located at 14105 Commerce Drive. Brandon Houghtaling and Peter Doughty of Marcus & Millichap represented the seller, a private investor. The property was offered as a sale-leaseback with an initial five-year lease term. The buyer was undisclosed.

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