Acquisitions

Olympus Purchases, Rebrands 370-Unit Multifamily Community in Jacksonville

by John Nelson July 21, 2023

JACKSONVILLE, FLA. — Olympus Property has acquired Presidium Town Center, a 370-unit multifamily community located in the Deerwood Park neighborhood of Jacksonville. The property was developed in 2021 by Texas-based multifamily developer Presidium. The buyer has rebranded the community as Olympus Preserve at Town Center. The property offers apartments in studio, one-, two- and three-bedroom layouts and amenities including a swimming pool, rooftop lounging deck, fitness center and indoor and outdoor fireplaces. Rents start at $1,611, according to the community website. The sales price was not disclosed.

July 21, 2023

Acquisitions Georgia Industrial Southeast

Dermody Properties Acquires 312,000 SF Logistics Facility in Garden City, Georgia

by John Nelson July 21, 2023

GARDEN CITY, GA. — Dermody Properties has acquired a 312,000-square-foot logistics facility located at 2509 Dean Forest Road in Garden City, about three miles west of the Port of Savannah’s Garden City Terminal. Yokohama Off-Highway Tires America Inc. and GFA Inc. occupy the property, which features 32-foot clear heights, 89 dock-high doors, three drive-in doors, 74 trailer parking spaces, T-5 lighting and ESFR fire protection. Britton Burdette, Matt Wirth, Jim Freeman, Dennis Mitchell and Mitchell Townsend of JLL arranged the transaction. The seller and sales price were not disclosed.

July 21, 2023

Acquisitions Illinois Midwest Retail

Marcus & Millichap Arranges $2.4M Sale of Retail Center in Antioch, Illinois

by Kristin Harlow July 21, 2023

ANTIOCH, ILL. — Marcus & Millichap has arranged the $2.4 million sale of a 19,810-square-foot retail center in Antioch, a city in northern Illinois near the Wisconsin border. Advance Auto Parts is the anchor tenant at the property. Austin Weisenbeck and Sean Sharko of Marcus & Millichap represented the seller, a partnership that had owned the center for over 20 years. The duo also secured and represented the buyer, a local private investor.

July 21, 2023

Acquisitions Hospitality Texas

Paceline Equity, ESR Group Acquire 304-Room Marriott-Branded Hotel in Plano

by Taylor Williams July 21, 2023

PLANO, TEXAS — A partnership between Dallas-based Paceline Equity Partners and ESR Group has acquired the 304-room Renaissance Dallas at Plano Legacy West Hotel. Completed in 2017 by Sam Moon Group in conjunction with the launch of the larger Legacy West mixed-use development, the hotel offers a rooftop pool and bar, 35,000 square feet of meeting and event space and a 474-space dedicated parking garage. The seller and sales price were not disclosed. The new ownership assumed the existing fixed-rate debt on the property as part of the deal.

July 21, 2023

Acquisitions Retail Texas

JLL Negotiates Sale of 28,000 SF Retail Strip Center in Houston

by Taylor Williams July 21, 2023

HOUSTON — JLL has negotiated the sale of Uptown Plaza, a 28,000-square-foot retail strip center in Houston’s Uptown area. Built ono 2.7 acres in 2002, the center was fully leased at the time of sale to tenants such as CVS, Vision Corner, EG Geller Shoes, Lesley Ann Jewels, Alchemy 43, Fizz Nails and Grotto. Ryan West, John Indelli and Erin Lazarus of JLL represented the undisclosed seller in the transaction. Pine Ridge Real Estate purchased the asset in cash for an undisclosed price.

July 21, 2023

Acquisitions Retail Texas

Matthews Arranges Sale of 19,204 SF Retail Strip Center in Frisco

by Taylor Williams July 21, 2023

FRISCO, TEXAS — Matthews Real Estate Investment Services has arranged the sale of Shops at Stonebrook Plaza, a 19,204-square-foot retail strip center in Frisco. The sales price was $8.5 million, equating to a cap rate of 6.4 percent. The center was built in 2016 and was fully leased at the time of sale to tenants such as 24-7 Dry Cleaners and Paris Nail Bar. Grayson Duyck of Matthews brokered the deal. The buyer and seller were not disclosed.

July 21, 2023

Acquisitions Connecticut Northeast Retail

Newmark Arranges Sale of 170,665 SF Shopping Center in Bridgeport, Connecticut

by Taylor Williams July 21, 2023

BRIDGEPORT, CONN. — Newmark has arranged the sale of Brookside Center, a 170,665-square-foot shopping center located in the southern coastal Connecticut city of Bridgeport. Grocer Stop & Shop, along with soft goods retailers Marshalls, Michaels and Petco, anchor the center, which was 95 percent leased at the time of sale. Paul Penman of Newmark represented the undisclosed seller and procured the buyer, DLC Management, in the transaction. Robert Griffin, Jon Martin and Casey O’Brien of Newmark provided additional support and financial analysis for the deal.

July 21, 2023

Acquisitions Industrial New Jersey Northeast

Dalfen Industrial Acquires 99,714 SF Building in Somerset, New Jersey

by Taylor Williams July 21, 2023

SOMERSET, N.J. — Dallas-based investment firm Dalfen Industrial has acquired a 99,714-square-foot building in the Northern New Jersey community of Somerset. The newly built property offers a clear height of 36 feet, 14 loading doors, an ESFR sprinkler system and 62 car parking spaces. Joel Lubin of JLL brokered the sale. Shortly after closing, Dalfen leased the entire building to Scentbird Inc., a fragrance subscription service company. Chuck Fern of Cushman & Wakefield represented the tenant in the lease negotiations.

July 21, 2023

Acquisitions California Retail Top Stories Western

Unibail-Rodamco-Westfield Sells 1.1 MSF Westfield Mission Valley Shopping Center in San Diego for $290M

by Jeff Shaw July 21, 2023

SAN DIEGO — French investor Unibail-Rodamco-Westfield (URW) has sold Westfield Mission Valley, a 1.1-million-square-foot retail center in San Diego, for $290 million. Spread across two separate parcels, URW sold the eastern portion to Lowe and Real Capital Solutions, while Sunbelt Investment Holdings Inc. bought the smaller western portion. The Westfield Mission Valley shopping mall, the eastern part of the property, was originally built in 1960 on a 41-acre site. The center currently offers 73 shops, including Target, Nordstrom Rack, Macy’s Home, Michael’s, Bloomingdale’s Outlet and a 24-Hour Fitness, as well as restaurants such as Yard House, Outback and Buffalo Wild Wings. The center also includes the AMC Mission Valley 20 movie theater. The western portion of the asset features a Trader Joe’s, Marshalls and variety of smaller restaurants and retailers. The property is located opposite the San Diego Trolley’s Mission Valley Center Station. The mall is also accessible to thoroughfares such as I-8, I-805 and Highway 163. Lowe and Real Capital Solutions plan to redevelop their portion of the property into a walkable, transit-oriented, mixed-use village. Lowe will lead the redevelopment project. The team plans to refresh the existing retail and add complementary uses such as multifamily residential to the …

July 21, 2023

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Brokers Sale of 130-Unit Storage Facility in Brazoria, Texas

by Taylor Williams July 20, 2023

BRAZORIA, TEXAS — Marcus & Millichap has brokered the sale of Churchill Bridge Storage, a 130-unit boat and RV storage facility located in the Texas Gulf Coast city of Brazoria. The facility spans 51,512 net rentable square feet. Dave Knobler of Marcus & Millichap represented the seller and procured the buyer, both of which were locally based limited liability companies that requested anonymity, in the transaction.

July 20, 2023

Newer Posts

Older Posts