HOUSTON — Fort Worth-based investment firm Fort Capital has acquired a 258,999-square-foot industrial portfolio in Houston. The portfolio consists of five Class B, light industrial buildings with a total of 97 units that are located across three different unnamed sites. The portfolio was 81 percent leased at the time of sale. The seller and sales price were not disclosed.
HOUSTON — Colliers has brokered the sale of a 127,000-square-foot industrial building in northeast Houston. The shallow-bay building, known as Northport Business Park, sits on an eight-acre site at 7101-7157 N. Loop E. Jason Scholtz of Colliers represented the buyer, Harbor Capital, in the transaction. Jason Gandy and Derrick Jones represented the seller, Sealy & Co., on an internal basis. The sales price was not disclosed.
HIRAM, GA. — SRS Real Estate Partners has brokered the $8 million sale of Hiram Walk, a 13,801-square-foot retail center located in Hiram, roughly 27 miles outside Atlanta. Tenants at the center, which was built in 2004, include Starbucks Coffee, Buffalo Wild Wings, T-Mobile, Cold Stone Creamery and Moe’s Southwest Grill. The property is an outparcel to Hiram Pavilion. Jeff Enck of SRS represented the undisclosed seller. An entity doing business as H Walk LLC was the buyer.
SADDLE BROOK, N.J. — New Jersey-based private equity real estate firm Sitex Group has acquired Zuckerberg’s Industrial Park, a 640,000-square-foot industrial campus located in the Northern New Jersey community of Saddle Brook. Zuckerberg’s Industrial Park, which has been owned by a local family for three generations, comprises 50 buildings on a 40-acre site and a four-acre trailer parking lot. Tenants at the development include UPS, ServePro and Johnstone Supply. The sales price was not disclosed, and no third-party brokers were involved in the deal. Sitex plans to implement a value-add program via new paving, lighting and signage, as well as updated building interiors.
NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has negotiated the $29.5 million sale of a multifamily development site in the Gowanus area of Brooklyn. The site at 125 Third St. can support 101,852 buildable square feet, and the buyer plans to construct a 14-story, 130-unit building with ground-floor commercial space. Sean Kelly, Stephen Vorvolakos and Nicole Daniggelis of Ariel Property Advisors represented the undisclosed seller in the transaction. Daniel O’Brien and Caroline Hodes of Cushman & Wakefield represented the buyer.
PHOENIX — Greenlight Communities has completed the disposition of Cabana Happy Valley, a multifamily community in Phoenix, to Ideal Capital Group for $79.2 million, or $271,404 per unit. Built in 2023 on nine acres, Cabana Happy Valley features 292 apartments with eight-foot keyless entry doors, European wood-style cabinetry, smart thermostats and full-size washers/dryers. Community amenities include a two-story leasing office and clubhouse, fitness center, lounge, coworking space, swimming pool, car charging stations, bike storage, mail room and covered parking. Steve Gebing and Cliff David of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the transaction.
FEDERAL WAY, WASH. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale Trellis, a multifamily property in Federal Way, just north of Tacoma. An investment fund sponsored by Prime Residential acquired the asset from CEP Multifamily for $32.4 million, or $291,892 per unit. Built in 1985 on 8.6 acres, Trellis features 33 one- and two-story duplexes and fourplexes. The community offers 111 two- and three-bedroom apartments with large windows, wood-burning fireplaces, washers/dryers and private decks or patios. Ryan Harmon, Giovanni Napoli, Philip Assouad and Nicholas Ruggiero of IPA represented the seller and procured the buyer in the deal. Brian Eisendrath, Cameron Chalfant and Jake Vitta of IPA Capital Markets arranged $21.1 million of interest-only acquisition financing for the buyer.
DETROIT — Cresa has acquired Axiom Advisory Group, a Detroit-based, tenant-focused commercial real estate firm specializing in global corporate real estate portfolio management. Axiom, which also has team members in Chicago and Dallas, is led by Ryan Bertin and Curt Stanton. The duo will serve as managing principals and co-leaders of Cresa’s Detroit operations. The company’s entire eight-person staff joins Cresa and will operate under the Cresa brand effective immediately. Since it was founded in 2017, Axiom has completed more than 450 assignments, representing 16 million square feet across 28 countries for various publicly traded and privately held corporations. The acquisition formally ends Cresa’s longtime partnership with Plante Moran in Detroit.
GILBERT, ARIZ. — DAUM Commercial Real Estate Services has brokered the sale of an industrial building located at 1416 W. San Pedro St. in Gilbert. Sunstone Rover LLC sold the asset to a family-owned corporation for $5.5 million. With the sale, the building will become the headquarters of Swain Electric, a Gilbert-based electrical contractor. Dan Casey of the DAUM Commercial Phoenix represented the seller, while Blake Hardison of Ike Commercial Real Estate represented the buyer in the deal.
RICHMOND, TEXAS — JLL has brokered the sale of The Wildwood Apartments, a 300-unit multifamily community located within the Veranda master-planned development in the northern Houston suburb of Richmond. Built in 2022, The Wildwood features one- and two-bedroom units with stainless steel appliances, stone countertops and private yards/patios. Amenities include a conservatory, dog parks, package lockers, a clubhouse with library and kitchen, pool and a fitness center. Dustin Selzer of JLL represented the seller, Allen Harrison Co., in the transaction. John Brownlee of JLL arranged acquisition financing through New York Life on behalf of the buyer, Price Realty Corp.