MAGNOLIA, TEXAS — SVN | J. Beard Real Estate — Greater Houston has brokered the sale of a 14,907-square-foot retail strip center in Magnolia, about 45 miles northwest of Houston. The center represents Phase II of a larger development known as Windcrest Village Square and was fully leased at the time of sale. Rosa Dye of SVN | J. Beard represented the seller, coworking concept WorkhubUSA, in the transaction. Don MacLellan of Faris Lee Investments represented the undisclosed buyer.
BEND, ORE. — CBRE has arranged the $57.5 million sale of Outlook at Pilot Butte, a 205-unit apartment community in Bend. Built in 2017 on five acres, the property comprises three four-story buildings with one- and two-bedroom floorplans. Units average 761 square feet. Amenities at the community include a fitness center, clubhouse and an outdoor patio with a fire pit. Josh McDonald, Joe Nydahl and Phil Oester of CBRE represented the seller, Seattle-based Security Properties, in the transaction. The buyer was not disclosed.
BAKERSFIELD, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the $2.9 million sale of a 3,576-square-foot, single-tenant property in Bakersfield, approximately 130 miles north of Los Angeles. Chase Bank occupies the building, which was constructed in 2022 on a 0.9-acre pad, on a triple-net-lease basis. Bill Asher and Jeff Lefko of Hanley represented the seller, a local private investor, in the transaction. Greg Bedell and Lance Mordachini of Progressive Real Estate Partners represented the buyer. The property is situated adjacent to a shopping center that is leased to tenants including In-Shape, PetSmart, Banfield Pet Hospital, Domino’s Pizza, Goodwill and U.S. Bank.
BAYPORT, N.Y. — Metropolitan Realty Associates (MRA) has purchased a 75,000-square-foot cold storage facility in the Long Island community of Bayport for $12.6 million. Commercial baker Europastry formerly occupied the facility at 33 Rajon Road, which was originally built in 1986, according to LoopNet Inc. Building features include a clear height of 40 feet, 35,000 square feet of freezer space, 11 loading docks and two drive-in doors. Nick Gallipoli of Cushman & Wakefield represented the undisclosed seller in the transaction. Doug Omstrom of JLL represented MRA, which has subsequently inked a 15-year, full-building lease with Bakery Processing Solutions.
NEW YORK CITY — Marcus & Millichap has brokered the $9 million sale of a 43-unit apartment building located in the Astoria neighborhood of Queens. The six-story, 34,000-square-foot building was originally constructed in 1941 and houses studio and one-bedroom units. Louis Zarif, Shaun Riney and Sean Fopeano of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors that requested anonymity, in the transaction.
RICHMOND HEIGHTS, OHIO — Blueprint Healthcare Real Estate Advisors has negotiated the sale of Richmond Heights Place, a continuing care retirement community in Richmond Heights, a northeast suburb of Cleveland. The property, featuring a total of 138 seniors housing units and skilled nursing beds, was part of a strategic exit plan by a West Coast-based owner-operator. A private owner-operator looking to expand in the Midwest acquired the asset for an undisclosed price. Connor Doherty, Ryan Kelly and Dan Mahoney of Blueprint brokered the sale.
CEDAR LAKE, IND. — StorSafe Self Storage has acquired a self-storage facility in Cedar Lake, a city in Northwest Indiana. The purchase price was undisclosed. StorSafe’s portfolio now encompasses 29 facilities totaling more than 1.7 million square feet across Florida, Illinois, Indiana, North Carolina, Ohio and Wisconsin. StorSafe is a subsidiary of Elmdale Partners. The Cedar Lake property will offer security, parking, climate-controlled units and varied storage sizes for both personal and business use.
DALLAS — New York-based Sterling Investors has purchased Centreport 2, a 430,852-square-foot industrial building in Dallas. The address was not disclosed, but the cross-dock facility is located south of Dallas-Fort Worth International Airport in the Upper Great Southwest submarket. Centreport 2 was built in 2017 and features 97 dock doors and 32-foot clear heights. Trent Agnew, Charlie Strauss, Parker McCormack, Tom Weber, Lance Young, Pauli Kerr, Matthew Barge and Brooke Petzold of JLL represented the undisclosed seller in the transaction and procured Sterling Investors as the buyer.
SCRANTON, PA. — CBRE has brokered the $6.5 million sale of a 108,000-square-foot light industrial complex in Scranton. The development consists of three buildings ranging in size from 27,000 to 40,500 square feet on an 11.8-acre site. Buildings feature clear heights of 19 to 21 feet. Steve Marzullo, Adam Silverman, Michael Hines and Joe Hill of CBRE represented the seller, CEP Family Office LLC, in the transaction. The buyer, an affiliate of Pennsylvania-based Industrial Investments Inc., was represented internally.
SHREWSBURY, MASS. — JLL has arranged the sale of The Residence at Orchard Grove, an 80-unit seniors housing complex in Shrewsbury, located just east of Worcester. The three-story building opened in 2017 and offers independent living, assisted living and memory care services. Jay Wagner, Aaron Rosenzweig, Rick Swartz and Jim Dooley of JLL represented the seller, Blue Moon Capital Partners, in the transaction and procured an undisclosed REIT as the buyer. LCB Senior Living operates the facility.
