HOUSTON — Partners Real Estate has arranged the sale of a 9,283-square-foot industrial building in northwest Houston. According to LoopNet Inc., the single-tenant property at 10959 Cutten Road was built in 2004 and features 16-foot clear heights and 20 dock-high doors. Wyatt Huff and Hunter Stockard of Partners represented the buyer, M-Tech Electric LLC, in the transaction. Nick Bergmann of CBRE represented the undisclosed seller.
TREXLERTOWN, PA. — Northmarq has brokered the sale of Mayo’s Mobile Home Park, a 75-site manufactured housing property in the Lehigh Valley city of Trexlertown. Mayo’s Mobile Home Park was built in 1950 and was 98 percent occupied at the time of sale. Ari Azarbarzin and Anthony Pino of Northmarq represented the seller, Mayo Homes Co., in the transaction. The buyer and sales price were not disclosed. The deal marks the first time that the property has traded hands since 1963.
CHICAGO — Interra Realty has brokered the $4.2 million sale of a 16-unit apartment building located at 5073 N. Wolcott Ave. in Chicago’s Ravenswood neighborhood. The boutique property features 13 two-bedroom units and three three-bedroom floor plans. All residences feature modernized kitchens and bathrooms, and the building has onsite laundry and storage lockers. Built in 1927, the vintage asset sold for full list price and was fully occupied at the time of sale. Joe Smazal of Interra represented the buyer, ICM Properties, a local real estate investor. Smazal also represented the seller, a private New York-based investor.
HOUSTON — Whitestone REIT (NYSE: WSR) has purchased Garden Oaks Shopping Center, a 107,000-square-foot shopping center in northwest Houston. German discount grocer Aldi anchors the center, which was 96 percent leased at the time of sale to a mix of 19 service and convenience-based tenants, including Planet Fitness. Ryan West, John Indelli, Ryan Olive and Clay Anderson of JLL represented the seller, a subsidiary of Silver Star Properties REIT, in the transaction. The sale follows the disposition of a nearby 14,000-square-foot retail strip center of the same name earlier this year.
AUGUSTA, GA. — Graphic Packaging Holding Co., a publicly traded consumer packaging manufacturer based in Atlanta, has signed a definitive agreement to sell its bleached paperboard manufacturing plant in Augusta. The buyer is Clearwater Paper Corp., a publicly traded supplier of private-brand tissue products and paperboard materials based in Spokane, Wash. The transaction is valued at $700 million and is expected to close in the second quarter, pending regulatory approval. Details about the facility were not disclosed, but Graphic Packaging’s website indicates that the mill is located at 4278 Mike Padgett Highway. According to The Augusta Chronicle, Graphic Packaging purchased the plant from International Paper in 2018 before investing $350 million in capital improvements at the facility. The newspaper also reports the facility was built in 1960 by Continental Can Co. Graphic Packaging’s consultants in the transaction include financial advisor BofA Securities and legal counsel Alston & Bird LLP. Clearwater Paper’s advisors include TD Securities (financial); Pillsbury, Winthrop, Shaw, Pittman LLP (legal); and Stoel, Rives LLP (environmental).
BESSEMER, ALA. — Graham & Co. has sold a Class A warehouse located at 4251 Turin Drive in Bessemer, about 15 miles southwest of Birmingham via I-20. The Birmingham-based developer broke ground on the 187,200-square-foot facility in 2021 and completed construction in June 2022. Barber Cos. purchased the facility from Graham & Co. for $17 million. Situated along the Lakeshore Parkway corridor, the rear-load warehouse features 32-foot clear heights and 31 dock-high doors. The property is best-suited for one or two tenants and offers proximity to nearby industrial distributors including FedEx, Dollar General, Amazon and Lowe’s Home Improvement. John Coleman and Matthew Graham represented Graham & Co. on an internal basis in the transaction, and Gifford Taylor and Merrimon Epps were Barber’s internal representatives.
HOUSTON — Locally based development and investment firm Levcor has acquired a 67,000-square-foot industrial building in West Houston. The single-story building at 67 Portwest Drive was originally constructed on four acres in 1987. Kevin Holland and Britton Holland of Edge Capital Markets represented the seller, Intertek, in the transaction. Sasha Levine represented Levcor on an internal basis.
CORPUS CHRISTI, TEXAS — Locally based brokerage firm Cravey Real Estate Services has arranged the sale of a 9,508-square-foot industrial facility in Corpus Christi. The building at 1330 Spindletop Road was built on a four-acre site within Wildcat Industrial Park in 2020 and offers 2,488 square feet of office space and 2.7 acres for outdoor storage. Scott Fauver of Cravey represented the seller, Humpal Real Estate, in the transaction. Rob Stillwell of Newmark represented the buyer, Enterprise Products Partners.
NEW YORK CITY — Marcus & Millichap has brokered the $41 million sale of a portfolio of five multifamily buildings in Manhattan’s East Village area totaling 73 apartments and six commercial spaces. The buildings primarily house market-rate units. Joe Koicim, Logan Markley, Matthew Berger and Zan Colin of Marcus & Millichap represented the seller, Kushner Cos., in the transaction. The buyer was not disclosed.
WEST CHESTER, OHIO — JLL Capital Markets has brokered the sale of a five-building industrial portfolio totaling 278,000 square feet in West Chester near Cincinnati. The sales price was undisclosed. The portfolio is 97.1 percent leased to 33 tenants. Each of the buildings is located on Windisch Road with immediate access to I-75. John Huguenard, Sean Devaney and Ross Bratcher of JLL represented the seller and procured the buyer, both of which requested anonymity. JLL’s Mark Volkman provided leasing expertise, while Ken Martin and Brian Walsh of JLL provided financing support.