Acquisitions

CBRE Negotiates $8.6M Sale of Multifamily Property in Costa Mesa, California

by Amy Works June 13, 2025

COSTA MESA, CALIF. — CBRE has negotiated the $8.6 million sale of a 13-unit property at 553 and 555 Victoria St. in Costa Mesa, about 40 miles south of Los Angeles. Dan Blackwell, Mike O’Neill and Jack O’Connor of CBRE represented the Costa Mesa-based private seller. The 1031 buyer is a private investor based in Huntington Beach, Calif. The property was on the market for the first time in approximately 47 years. Located on a 0.8-acre lot, the property contains 10 buildings with 13,712 square feet of rentable space. The unit mix includes eight two-bedroom cottages (built in 1962) and five three-bedroom townhomes (built in 1990), each with a private backyard.

June 13, 2025

Acquisitions Colorado Retail Western

Marcus & Millichap Brokers $7.2M Sale of Retail Center in Denver

by Amy Works June 13, 2025

DENVER — Marcus & Millichap has brokered the $7.2 million sale of Shops at 6th & Broadway, a 12,033-square-foot retail center located in Denver. Built in 2002, the property was 76 percent leased to a mix of tenants including AT&T, Jersey Mike’s Subs, Einstein Bros. Bagels and Palm Beach Tan at the time of sale. Ian Hicks, Ryan Bowlby and Drew Isaac of Marcus & Millichap’s Denver office marketed the property on behalf of the seller, a private local investor, and procured the buyer, a local family office, in the transaction. Both parties requested anonymity.

June 13, 2025

Acquisitions Florida Retail Southeast

Continental Realty Corp. Acquires CityPlace Doral Retail Development in South Florida for $87.5M

by John Nelson June 12, 2025

DORAL, FLA. — Baltimore-based Continental Realty Corp. (CRC) has purchased CityPlace Doral, a 235,000-square-foot lifestyle retail center located at 8300 N.W. 36th St. in Doral, a western suburb of Miami. CRC financed the $87.5 million acquisition using funds from Continental Realty Opportunistic Retail Fund I LP, a related co-investment and a $58.3 million loan from a regional bank. Danny Finkle and Jorge Portela of JLL represented the seller, PGIM Real Estate, in the transaction. Michael DiCosimo and Maddy McMillen of JLL’s Debt Advisory team arranged the acquisition loan. The tenant roster at CityPlace Doral, which was 80 percent leased at the time of sale, includes The Fresh Market, Cooper’s Hawk, Anatomy Fitness, Carrot Express, Copper Blues Rock Pub & Kitchen, Kings Dining & Entertainment, CMX CineBistro, Kuba Cabana, Novecento and Tap 42. Built in 2017, the center also includes a structured parking garage and a central plaza for events. CityPlace Doral is connected to The Flats, a 303-unit apartment community that is under separate ownership. With this acquisition, CRC owns 13 retail centers in Florida, including assets in Fort Myers, Lakeland, Lake Worth, Marco Island, Naples, Ocoee, Orlando and Seffner.

June 12, 2025

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Brokers Sale of 410-Unit Self-Storage Facility in Van Alstyne, Texas

by Taylor Williams June 12, 2025

VAN ALSTYNE, TEXAS — Marcus & Millichap has brokered the sale of a 410-unit self-storage facility in Van Alstyne, about 50 miles north of Dallas. Situated on an 8.7-acre site, Van Alstyne Self Storage spans 92,220 net rentable square feet across 42 climate-controlled units, 208 non-climate drive-up units, 91 covered parking spaces and 69 uncovered parking spaces. The facility also has an onsite residence. Brandon Karr and Danny Cunningham of Marcus & Millichap represented the seller, a local partnership, in the transaction. The duo also procured the buyer, a Dallas-based private investor. Both parties requested anonymity.

June 12, 2025

Acquisitions Louisiana Retail Southeast

Marcus & Millichap Brokers $5.8M Sale of Retail Center in Lafayette, Louisiana

by John Nelson June 12, 2025

LAFAYETTE, LA. — Marcus & Millichap has brokered the $5.8 million sale of Lafayette Marketplace, an 87,122-square-foot retail center located in Lafayette. Super 1 Foods anchors the property, which occupies roughly 60 percent of the center. Additional tenants include Dollar Tree, Family Dollar, Metro by T-Mobile and Ace Cash Express. Built in 1995 and renovated in 2024, Lafayette Marketplace spans 10 acres and is situated near the West Village master-planned development that is currently underway. Eric Abbott and Zach Taylor of Marcus & Millichap represented the seller in the transaction. Steve Greer served as Marcus & Millichap’s broker of record in Louisiana in the transaction.

June 12, 2025

Acquisitions Indiana Midwest Multifamily

Marcus & Millichap Negotiates Sale of 80-Unit Multifamily Property in Indianapolis

by Abby Cox June 12, 2025

INDIANAPOLIS — Marcus & Millichap has facilitated the sale of Arlington Village, an 80-unit multifamily property located in Indianapolis. Originally built in 1963, the complex comprises 20 one-bedroom and 60 two-bedroom apartments across eight buildings. Renovations to the property will include cosmetic updates and capital improvements, as well as the utilization of basement space. The buyer also plans to convert some of the larger two-bedroom units into three-bedrooms. Jack Friskney and Aaron Kuroiwa of Marcus & Millichap’s Indianapolis office marketed Arlington Village on behalf of the seller and procured the buyer, both based in New York. The sales price was not disclosed.

June 12, 2025

Acquisitions Illinois Midwest Office

AXIS 360 Brokers Sale of 16,998 SF Office Building in Bloomington, Illinois

by Abby Cox June 12, 2025

BLOOMINGTON, ILL. — AXIS 360 Commercial Real Estate has arranged the sale of a 16,998-square-foot office building located at 2712 McGraw Drive in Bloomington. Formerly occupied by Insight CPAs & Financial PLLC, the property features floor-to-ceiling windows, sky lights, 11 private offices, cubicle space and conference rooms. Meghan O’Neal-Rogozinski and Mike O’Neal of AXIS 360 brokered the transaction. The buyer was locally based Hjerpe & Tennison CPAS LLC.

June 12, 2025

Acquisitions Net Lease Retail Texas

STRIVE Arranges Sale of Retail Building Leased to AutoZone in Bryan, Texas

by Taylor Williams June 12, 2025

BRYAN, TEXAS — Dallas-based brokerage firm STRIVE has arranged the sale of a 7,750-square-foot retail building located along North Texas Avenue in the Central Texas city of Bryan. The property is net leased to AutoZone. Adam Gottschalk and Jason Vitorino of STRIVE represented the seller, a private wealth management division of a bank, and procured the undisclosed buyer. Additional terms of sale were not disclosed.

June 12, 2025

Bldg1-Tripoint-Logistics-Center-Lathrop-CA

Acquisitions California Industrial Western

Dermody Acquires 1.1 MSF Wayfair-Occupied Industrial Building at Tripoint Logistics Center in Lathrop, California

by Amy Works June 12, 2025

LATHROP, CALIF. — Dermody has purchased Tripoint Logistics Center Bldg. 1, a Class A industrial building in Lathrop. Terms of the acquisition were not disclosed. The 1.1 million-square-foot property is situated on 49.6 acres within a 300-acre master planned logistics park. Wayfair, an e-commerce company, occupies the cross-dock facility that features drive-around access and 40-foot clear heights. Wayfair uses the facility to distribute to all of its North American warehouses. Rebecca Perlmutter and Tom Davis of CBRE brokered the transaction.

June 12, 2025

Acquisitions Multifamily New Jersey Northeast

Kislak Arranges $20M Sale of Jersey City Apartment Building

by Taylor Williams June 12, 2025

JERSEY CITY, N.J. — Locally based brokerage firm The Kislak Co. Inc. has arranged the $20 million sale of 70 Central Lofts, a 31-unit apartment building in Jersey City. Completed in 2024, the five-story building includes a 32-space parking garage and a 1,696-square-foot retail space, as well as 7,000 square feet of amenity space. Davis Briones of Kislak represented the seller, Legacy Development, in the transaction and procured the buyer, an entity doing business as 70 Central Lofts LLC.

June 12, 2025

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