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Acquisitions

AcquisitionsBuild-to-RentIndianaMidwestSingle-Family Rental

Thompson Thrift Sells 242-Unit Slate at Fishers District Build-to-Rent Community in Indiana

by Kristin Harlow

FISHERS, IND. — Thompson Thrift has sold Slate at Fishers District, a 242-unit luxury build-to-rent community in the Indianapolis suburb of Fishers. Bonaventure Holding Co. purchased the property for an undisclosed price. George Tikijian, Hannah Ott, Ted Abramson, Cam Benz, Claire Hassfurther, Ryan Stockamp and Sean Pingel of CBRE brokered the sale. Slate at Fishers District features one-, two- and three-bedroom villas as well as three- and four-bedroom townhomes. Amenities include a clubhouse, fitness center, pool, bark park and dog spa. Construction wrapped in May 2024, and the property’s occupancy now exceeds 90 percent. Slate at Fishers District is one of five developments within the larger Fishers District. Once completed, the $750 million project will span 123 acres and include multifamily, hotel, office, dining, shopping and entertainment options.

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AcquisitionsIllinoisMidwestMultifamily

Interra, Triton Broker $16.1M Sale of Multifamily Portfolio on Chicago’s North Side

by Kristin Harlow

CHICAGO — Interra Realty and Triton Realty Group have brokered the sale of a three-building multifamily portfolio totaling 115 units in Chicago’s Rogers Park neighborhood. The properties sold for $16.1 million in an off-market deal. All of the buildings were fully occupied at the time of sale and are located on North Damen Avenue. Brad Feldman of Interra and Harrison Cohen of Triton represented the seller, George Triff. The duo also represented the buyer, a private individual investor.

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AcquisitionsIndustrialMidwestOhio

Marcus & Millichap Negotiates $3.8M Sale of Industrial Property in Sidney, Ohio

by Kristin Harlow

SIDNEY, OHIO — Marcus & Millichap has arranged the $3.8 million sale of a 165,230-square-foot industrial property in Sidney, about 40 miles north of Dayton. Located at 1521 Michigan St., the facility sits on more than 33 acres at the intersection of I-75 and Michigan Street. Formerly home to Reliable Castings Corp., the property includes heavy manufacturing capacity, a machine shop, warehouse, distribution spaces and offices. Nathan Pealer of Marcus & Millichap represented the seller, Reliable Castings, and procured the buyers, Moxie Equities and Lido Realty. The complex sale involved a bankruptcy, a business winding down its operations and active equipment auctions taking place during the selling process, according to Pealer. The buyers plan to improve and lease the property, and marketing efforts are underway.

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AcquisitionsNew JerseyNortheastRetail

Marcus & Millichap Brokers $4.3M Sale of Two Retail Buildings in Maplewood, New Jersey

by Taylor Williams

MAPLEWOOD, N.J. — Marcus & Millichap has brokered the $4.3 million sale of two retail buildings in Maplewood, located just outside of Newark. The two adjacent, freestanding buildings are leased to Dollar General and Sherwin-Williams and both recently underwent capital improvements. Alan Cafiero, David Cafiero and Dean Matuszewicz of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

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AcquisitionsIndustrialSelf-StorageTexas

JLL Negotiates Sale of Three Houston Self-Storage Facilities Totaling 1,606 Units

by Taylor Williams

HOUSTON — JLL has negotiated the sale of three self-storage facilities totaling 1,606 units in the Houston area that are operated under the Go Store It brand. The facilities are located at 2919 S. Highway 146 in the Bacliff area on the city’s southeast side and 12610 Tanner Road and 4100 W. 34th St. in northwest Houston. All three properties were built in the past 25 years and offer climate- and non-climate-controlled space. Matthew Wheeler, Adam Roossien, Brian Somoza and Steve Mellon of JLL represented the seller, a partnership between Madison Capital Group and affiliates of Cerberus Capital Management, in the transaction. Griffin Guthneck, also with JLL, arranged an undisclosed amount of acquisition financing for the purchase, which was part of a larger, 340,000-square-foot (net rentable) portfolio deal that included two facilities in Rhode Island. The buyer was not disclosed.

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AcquisitionsIndustrialTexas

Apricus Realty, ABR Capital Buy 11-Acre IOS Property in Houston

by Taylor Williams

HOUSTON — A joint venture between Dallas-based Apricus Realty Capital and Baltimore-based ABR Capital Partners has purchased an 11-acre IOS (industrial outdoor storage) property in Houston. The address was not disclosed. The joint venture acquired the rail-served property, which includes more than 100,000 square feet of existing facilities across multiple buildings, in a sale-leaseback with Box Gang Manufacturing, a locally based manufacturer of waste management products including dumpsters and trash bins. Nathan Mai and Carlton Anderson of Mohr Partners represented the joint venture in the transaction. C.W. Sheehan, Peyton Ackerman and Nate Henderson of JLL arranged acquisition financing for the deal.

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2655-2665-Melrose-Dr-Vista-CA
AcquisitionsCaliforniaRetailWestern

NewMark Merrill South Sells Two-Building Melrose Landing Retail Property in Vista, California

by Amy Works

VISTA, CALIF. — San Diego-based NewMark Merrill South, a subsidiary of NewMark Merrill Cos., has completed the disposition of Melrose Landing, a retail property at 2655-2665 Melrose Drive in Vista. The two single-tenant buildings, located at the corner of South Melrose Drive and Faraday Avenue, were preleased to Dutch Bros Coffee and Wendy’s prior to construction. Nouretsu Investments LLC acquired the Dutch Bros Coffee building for $2.7 million. Pat Luther of SRS Real Estate Partners represents the seller, while Jason Ehrenpreis of CBM1 represented the buyer in the deal. Tetrad Investments LLC purchased the Wendy’s property for $2.6 million. Kevin Barry of Irish Commercial represented the buyer, while NewMark Merrill South was self-represented in the transaction. NewMark Merrill’s acquisition, development, financing and leasing team for the project included John Hickman, Barret Bradley, Robert Mendoza and Sandra Kist.

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500-E-7th-St-Leadville-CO
AcquisitionsColoradoHospitalityWestern

NorthPeak Commercial Brokers Sale of Inn the Clouds Hostel & Inn in Leadville, Colorado

by Amy Works

LEADVILLE, COLO. — NorthPeak Commercial Advisors has arranged the sale of Inn the Clouds Hostel & Inn in Leadville. The asset traded for $1.5 million, or $108,286 per room. Located at 500 E. 7th St., the property offers 14 rooms. Dan Hawthorne of NorthPeak Commercial Advisors represented the undisclosed seller in the deal.

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AcquisitionsMichiganMidwestMultifamily

Friedman Brokers $16.9M Sale of Apartment Community in Brownstown Township, Michigan

by Kristin Harlow

BROWNSTOWN TOWNSHIP, MICH. — Friedman Real Estate has brokered the $16.9 million sale of South Glen Apartments in Brownstown, a southern suburb of Detroit. The 159-unit multifamily property is located at 19400 S. Glen Blvd. The sales price represents $106,603 per unit. Peter Jankowski and Rich Deptula of Friedman represented the undisclosed buyer and seller in the transaction.

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AcquisitionsIllinoisMidwestRetail

Marcus & Millichap Arranges $9M Sale of Grocery Property in La Grange Park, Illinois

by Kristin Harlow

LA GRANGE PARK, ILL. — Marcus & Millichap has arranged the $9 million sale of a retail property net leased to Jewel-Osco in La Grange Park, about 13 miles west of Chicago. The 46,637-square-foot building is located at 507 E. Woodlawn Ave. Jewel-Osco has operated at the property since it was built in 1964 and recently signed a 20-year lease extension through May 2044. Adrian Mendoza, Sean Sharko and Austin Weisenbeck of Marcus & Millichap represented the seller, a life insurance company. The asset sold to a 1031 exchange investor and garnered one of the lowest cap rates for a full-service grocer in the Midwest in recent years, according to Mendoza.

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