FORNEY, TEXAS — Marcus & Millichap has brokered the sale of Bin 741 Storage, a 490-unit self-storage facility located in the eastern Dallas suburb of Forney. The facility was built in 2017 and spans 56,900 net rentable square feet. Danny Cunningham and Brandon Karr of Marcus & Millichap represented the seller, a locally based family partnership that originally built the property, in the transaction. The duo also procured the buyer, a Houston-based investment firm.
PLANO, TEXAS — Minnesota-based investment firm Founders Properties has sold a 114,000-square-foot industrial building located at 780 Shiloh Road in Plano. The building was constructed in 2001, renovated in 2007 and was fully leased at the time of sale to a single unnamed tenant. Randy Baird, Jonathan Bryan, Ryan Thornton, Nathan Wynne and Eliza Bachhuber of CBRE represented Founders Properties in the transaction. The buyer was an undisclosed, California-based private investor.
CINCINNATI, KANSAS CITY, ST. LOUIS AND KENOSHA, WIS. — BGO Industrial Real Estate Income Trust Inc. (BGO IREIT) has acquired an indirect 34.2 percent ownership interest in a portfolio of Midwest industrial assets valued at approximately $948 million in exchange for 13 million units of its operating partnership. The purchase price of the portfolio was approximately $130 million. The portfolio consists of 29 industrial buildings totaling more than 9.4 million square feet in Cincinnati, Kansas City, St. Louis and Kenosha, Wis. Developed between 2012 and 2023, the portfolio is 90 percent leased to multiple tenants with a weighted average remaining lease term of approximately five years.
KATY, TEXAS — SRS Real Estate Partners has arranged the $14.6 million sale of a 55,000-square-foot retail building in the western Houston suburb of Katy that is triple-net-leased to Kohl’s. The seller, an undisclosed, institutional development group, is nearing completion of construction of the building, which sits on a 5.2-acre site. The lease term is 12 years. Matthew Mousavi and Patrick Luther of SRS represented the seller and procured the undisclosed out-of-state buyer, which acquired the asset via a 1031 exchange.
AUSTIN, TEXAS — CCRM Fertility has signed a 20,000-square-foot office lease at Uplands Corporate Center in southwest Austin. The space spans about half of the third floor of the 124,081-square-foot Uplands II building. Mark Harris and Elizabeth Thompson of JLL represented the tenant in the lease negotiations. Matt Frizzell and Kevin Granger of Cushman & Wakefield represented the landlord, Drawbridge Realty.
ST. PAUL, MINN. — Marcus & Millichap has brokered the $5 million sale of Phalen Shores, a 53-unit multifamily property in St. Paul. Built in 1987, the five-story community features a fitness center, outdoor spaces and an underground heated garage. Abe Roberts and Michael Jacobs of Marcus & Millichap represented the seller and buyer, neither of which were disclosed.
MURFREESBORO, TENN. — Argyle Real Estate Partners has acquired Easton Place, a 184-unit multifamily community located in Murfreesboro, roughly 35 miles southeast of Nashville. Amenities at the property include a swimming pool, community firepit and clubhouse with a movie theater. The buyer plans to implement a capital improvement plan at the community, which Greystar will manage. This marks Argyle’s first acquisition in metro Nashville. The price and seller were not disclosed.
NORTH BERGEN, N.J. — New York-based Acadia Lodging Brokers & Advisors has arranged the $24 million sale of the 250-room Meadowlands View Hotel in the Northern New Jersey community of North Bergen. The 12-story building has been closed since the pandemic and has significant potential for renovation or repositioning, according to the brokerage team. Arbah Hotel Corp. sold the property to American Dream Hotel LLC in an all-cash transaction.
ORANGE, N.J. — Locally based brokerage firm The Kislak Co. Inc. has negotiated the $1.4 million sale of a 12-unit apartment building located at 153 Pierson St. in the Northern New Jersey community of Orange. According to Apartments.com, the building was originally constructed in 1896 and offers one-bedroom units. Julie Gralla of Kislak represented the seller and procured the buyer, both of which were limited liability companies, in the deal.
GRAND PRAIRIE, TEXAS — Locally based investment firm S2 Capital has acquired Silverbrook, a 642-unit apartment complex located in the central metroplex city of Grand Prairie. According to Apartments.com, Silverbrook offers one-, two- and three-bedroom apartments and amenities such as a pool, business center, fitness center, resident clubhouse, tennis court, volleyball court and outdoor grilling and dining stations. Danny Baker and William Hubbard of CBRE represented the undisclosed seller in the transaction. Harry Krieger, also with CBRE, arranged acquisition financing through an undisclosed lender on behalf of S2 Capital.