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Acquisitions

Bank-of-America-Upland-CA
AcquisitionsCaliforniaRetailWestern

Faris Lee Investments Negotiates $6.1M Sale of Bank of America-Occupied Retail Property in Upland, California

by Amy Works

UPLAND, CALIF. — Faris Lee Investments has arranged the sale of a retail property situated on 1.9 acres in Upland. An Atlanta-based family private office sold the asset to the tenant, Bank of America, for $6.1 million, or $653 per square foot. Bank of America has occupied the 9,348-square-foot building since 1969 and used its right of first refusal to purchase the property, which is located on Foothill Boulevard and Mountain Avenue. Jeff Conover, Scott DeYoung and Greg Lukosky of Faris Lee Investments represented the seller, while Cushman & Wakefield represented the buyer in the deal.

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AcquisitionsColoradoIndustrialRestaurantRetailWestern

Unique Properties Arranges $1.2M Sale of Two-Building Property in Englewood, Colorado

by Amy Works

ENGLEWOOD, COLO. — Unique Properties / TCN Worldwide has arranged the sale of 3142 W. Hampden Avenue, a two-building commercial property in Englewood. Anthony of Big Time Properties LLC sold the asset to an undisclosed buyer for $1.2 million. Situated on a half-acre of outdoor storage-zoned land, the asset features a 2,250-square-foot metal warehouse built in 2023 with two drive-in doors and a 1,916-square-foot brick structure built out as a bar. Sam Leger, Jack Gitlin and Graham Trotter of Unique Properties / TCN Worldwide represented the seller in the deal.

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AcquisitionsMixed-UseNew YorkNortheast

Marcus & Millichap Brokers $6.2M Sale of Brooklyn Mixed-Use Building

by Taylor Williams

NEW YORK CITY — Marcus & Millichap has brokered the $6.2 million sale of a 17,934-square-foot mixed-use building in the Williamsburg neighborhood of Brooklyn. The three-story building at 167 N. 9th St. consists of 10 residential units and four commercial spaces. Shaun Riney and Michael Salvatico of Marcus & Millichap represented the seller and procured the buyer, both of which were local private investors that requested anonymity, in the transaction.

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Westchase-Park-Houston
AcquisitionsOfficeTexas

Canyon Creek Real Estate Acquires 579,032 SF Office Complex in West Houston

by Taylor Williams

HOUSTON — Fort Worth-based investment firm Canyon Creek Real Estate has acquired Westchase Park I and II, a two-building, 579,032-square-foot office complex in West Houston. The 15.2-acre campus’ two buildings are connected by an 8,000-square-foot amenity center with a full-service cafe, conference center, fitness center and an outdoor seating area. The new ownership plans to make capital improvements to the property and has tapped Stream Realty Partners as the new leasing agent. The seller and sales price were not disclosed.

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Crossroads-at-Brittmoore
AcquisitionsIndustrialTexas

PAGEWOOD, Long Wharf Buy 292,200 SF Industrial Park in Northwest Houston

by Taylor Williams

HOUSTON — A partnership between local investment firm PAGEWOOD and Boston-based Long Wharf Capital has purchased a 292,200-square-foot, shallow-bay industrial park in northwest Houston. Crossroads at Brittmoore consists of 13 buildings on a 20-acre site that were 91 percent leased at the time of sale. The seller was Houston-based ABCO Industrial Properties. The new ownership plans to implement capital improvements, such as landscaping upgrades, new fencing and security, fresh paint and improved signage.

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AcquisitionsRestaurantRetailTexas

Weitzman Negotiates Sale of 7,715 SF Restaurant Building in Highland Village, Texas

by Taylor Williams

HIGHLAND VILLAGE, TEXAS — Weitzman has negotiated the sale of a 7,715-square-foot restaurant building in Highland Village, located north of the metroplex in Denton County. Delhi 6 Indian Scratch Kitchen & Bar occupies the building, which includes patio dining space and a children’s play area. Greg Blandford of Weitzman represented seller, a Dallas-based limited liability company, in the transaction. Hunter Hayes of Edge Realty Partners represented the buyer. Both parties requested anonymity.

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AcquisitionsFloridaRetailSoutheast

Colliers Arranges $63.5M Sale of Posner Commons Shopping Center in Davenport, Florida

by John Nelson

DAVENPORT, FLA. — Colliers has arranged the $63.5 million sale of Posner Commons, a 731,000-square-foot regional shopping center located in Davenport, roughly 25 miles southwest of Orlando. Brad Peterson, Whitaker Leonhardt and Eric AmRhein of Colliers represented the seller, PREP Property Group, in the transaction. BayBridge Real Estate Capital arranged acquisition financing on behalf of the buyer, Orion Real Estate Group. Target and a newly constructed BJ’s Wholesale Club shadow-anchor Posner Commons, which was 95.5 percent leased at the time of sale to tenants including JC Penney, Dick’s Sporting Goods, Cinépolis, Best Buy, Ross Dress for Less, Ashley Furniture, Michaels, Staples, PetSmart, Books-A-Million and Dollar Tree. Situated seven miles from Walt Disney World, the property spans 91 acres.

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AcquisitionsHospitalityLouisianaSoutheast

Sunstone Hotel Investors Sells Hilton New Orleans St. Charles Avenue Hotel for $47M

by John Nelson

NEW ORLEANS — California-based Sunstone Hotel Investors Inc. has sold the Hilton New Orleans St. Charles Avenue, a 252-room hotel in downtown New Orleans, for $47 million. The buyer was not disclosed. Situated in the central business district and near the French Quarter, the hotel was originally built in 1926 as the Louisiana Masonic Temple, according to the Hilton website. The Hilton New Orleans St. Charles Avenue offers a 24-7 fitness center, onsite dining options, fitness center, concierge and a business center.

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AcquisitionsHospitalitySoutheastTennessee

Hunter Hotel Advisors Negotiates Sale of 126-Room Hyatt Place Hotel in Franklin, Tennessee

by John Nelson

FRANKLIN, TENN. — Atlanta-based Hunter Hotel Advisors has negotiated the sale of Hyatt Place Nashville Franklin Cool Springs, a 126-room hotel located adjacent to the CoolSprings Galleria mall in Franklin. The hotel is located in the heart of metro Nashville’s CoolSprings neighborhood. Amenities at the hotel include an onsite fitness center, pool and business center. The buyer, INNIN Hotel Partners LLC, plans to rebrand the hotel’s flag to Hyatt Select. Tim Osborne of Hunter brokered the transaction. An undisclosed institutional investor sold the hotel for an undisclosed price.

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AcquisitionsMixed-UseNew YorkNortheast

Marcus & Millichap Negotiates $34.3M Sale of Mixed-Use Portfolio in Montauk, New York

by Taylor Williams

MONTAUK, N.Y. — Marcus & Millichap has negotiated the $34.3 million sale of a portfolio of nine buildings totaling 48,145 square feet in Montauk, located on Long Island’s South Fork. Known as Gosman’s Dock, the portfolio spans 11.6 acres and consists of four restaurants, a fish market, six retail stores, four staff residences, a parking area, marina, fish charter facilities and a boat rental site. The sale also included vacant land that can support the development of a 46-room hotel. Henri Kessler, Michael Tuccillo and Eric Anton of Marcus & Millichap represented the seller, a group that includes the Gosman Family, and procured the buyer, private equity firm Black Diamond Capital Management.

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