TOLLESON, ARIZ. — Transwestern Investment Group (TIG), on behalf of a separately managed account, has purchased a two-building industrial property at 9400 Latham St. in Tolleson. Terms of the transaction were not disclosed. Delivered in 2022, the 662,804-square-foot property is fully leased. Building A is a 402,015-square-foot cross-dock facility with a clear height of 36 feet, a 190-foot truck court, ESFR sprinkler systems and abundant trailer parking. Building B totals 260,789 square feet and features a rear-load configuration with a clear height of 32 feet, a 130-foot truck court and ESFR sprinklers.
Acquisitions
TRUMBULL, CONN. — Locally based brokerage firm Vidal/Wettenstein has negotiated the $3.7 million sale of a 112,544-square-foot office building in the southern coastal Connecticut city of Trumbull. The buyer, Kubtec, a provider of digital imaging equipment, will convert the first two floors of the building at 75 Merritt Blvd. to support its production, assembly and quality control initiatives. Bruce Wettenstein of Vidal/Wettenstein represented the buyer in the transaction. Alan Fischer of Fischer Real Estate represented the seller, Sachem Capital Corp.
PITTSBURGH — CBRE has brokered the sale of a 52,750-square-foot shopping center in North Pittsburgh. Located at 4885 McKnight Road and known as McKnight Siebert, the center is home to tenants such as Walgreens, Starbucks, The UPS Store, Bruegger’s Bagels, Sport Clips and T-Mobile. First Washington Realty sold the center to full-service firm Shannon Waltchack for an undisclosed price. Chris Munley, Colin Behr, Ryan Sciullo, Casey Benson Smith, R.J. Mirabile and Michael Pascavis of CBRE brokered the deal.
CHAGRIN FALLS, OHIO — The Cooper Commercial Investment Group has arranged the $7.8 million sale of Washington Center, a mixed-use property comprised of retail, flex and warehouse space in in Chagrin Falls/South Russell near Cleveland. Bob Havasi and Dan Cooper of Cooper Group represented the seller, whom the duo has worked with on multiple transactions in the past. The sales price represented a cap rate of 7.7 percent. Washington Center is comprised of 67,530 square feet and sits on 5 acres. Long-term tenants have consistently exercised renewals.
CHICAGO — Greenstone Partners has brokered the sale of a 16-unit value-add apartment building located at 633 S. Laflin St. in Chicago’s Little Italy/University Village neighborhood. The asset sold for $195,000 per unit. The three-story building totals approximately 10,800 square feet and features a mix of one- and two-bedroom units. It is situated near the University of Illinois Chicago campus and the Illinois Medical District. Tom Galvin and Brewster Hague of Greenstone represented the seller, a private local owner, and procured the buyer, a private partnership based in Illinois.
ELK GROVE VILLAGE, ILL. — Dalfen Industrial has acquired a multi-tenant industrial property on Howard Street in Elk Grove Village. Built in 1990, the facility offers immediate access to I-90, I-290, I-294 and the Chicago O’Hare International Airport. The asset is currently 75 percent leased and includes a move-in ready vacancy. Each suite features both dock-high and drive-in loading, providing flexible functionality for distribution and light industrial users. With this transaction, Dalfen now owns and operates 17 buildings across the Midwest. The company aims to double its footprint in the region over the next 12 months.
Trilogy Investment Acquires 109-Unit Build-to-Rent Development in Lakeland, Tennessee
by John Nelson
LAKELAND, TENN. — Trilogy Investment Co. has closed on the purchase of Willows Townhomes, a 109-unit build-to-rent (BTR) residential community planned at 9942 Geneva St. in Lakeland. The Alpharetta, Ga.-based investment firm has rebranded the property as REV3 at Garner Lake. The land seller and sales price were not disclosed. Trilogy plans to break ground on REV3 at Garner Lake this month and deliver the first tranche of homes by the end of the year. All units will feature attached garages and come in three- and four-bedroom configurations ranging in size from 1,657 to 1,866 square feet. Builders Capital is serving as Trilogy’s joint venture partner and equity capital provider for the project. REV3 at Garner Lake is situated within Lake District, a 160-acre master-planned redevelopment of the former Belz Factory Outlet Mall in metro Memphis.
PFLUGERVILLE, TEXAS — Montana-based investment firm Virga Capital has purchased The Beacon at Pfluger Farm, a 258-unit apartment community located on the northern outskirts of Austin. Built in 2022, The Beacon at Pfluger Farm is a garden-style property that offers one-, two- and three-bedroom units with an average size of 890 square feet. Amenities include a pool, clubhouse, two fitness centers, coworking and resident lounges and outdoor gathering areas. The seller and sales price were not disclosed.
CEDAR PARK, TEXAS — Local investment firm CapRidge Partners has purchased a 30,000-square-foot building in Cedar Park, a northern suburb of Austin. The sales price was $6.7 million. The structure is located within the Scottsdale Crossing master-planned development and is known as ITC-1615 Scottsdale Building One. The building was fully leased at the time of sale to three tenants. Witt Westbrook of JLL represented the seller, a partnership between BCA Industrial Partners and Growth Capital Partners, in the deal.
NEW BRAUNFELS, TEXAS — SRS Real Estate Partners has brokered the sale of Gruene Heights, a 25,767-square-foot retail center in New Braunfels, located northeast of San Antonio. Built on 3.5 acres in 2024, the center was fully leased at the time of sale to tenants such as Papa Johns, Garcia’s Mexican Food and Chicken Salad Chick. Cathy Nabours, Kyle Shaffer and Sam Nichols of SRS Real Estate Partners represented the seller, a San Antonio-based developer, in the transaction. The buyer was a Houston-based private investor.