LAREDO, TEXAS — Marcus & Millichap has brokered the sale of Budget Self Storage, a 199-unit facility located in the Rio Grande Valley city of Laredo. The facility was built in 1970 and totals 25,600 net rentable square feet. Jon Danklefs of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties were limited liability companies that requested anonymity.
NEW YORK CITY — Marcus & Millichap has brokered the $22.5 million sale of a 19,437-square-foot mixed-use building at 150 Lawrence St. in Brooklyn. According to LoopNet Inc., the building was originally constructed in 1920 and features office and residential uses. Shaun Riney, Michael Salvatico and Robbie Ferman of Marcus & Millichap represented the seller, The Kao Family, in the transaction. The trio also procured the buyer, private investor and developer Solomon Schwimmer. Future plans for the parcel were not disclosed.
WICHITA, KAN. — FunCity Adventure Park has purchased a 52,259-square-foot building formerly home to a Sports Authority store in North Wichita for an undisclosed price. The property is located at 6959 E. 21st St. FunCity, an indoor adventure park operator, maintains 18 locations and several sites under construction across the country. FunCity is actively seeking to acquire or lease vacant retail buildings. By this summer, the company expects to have 25 locations open and operating. Don Mace of KeyPoint Partners advised FunCity on the acquisition in Wichita.
HOUSTON — A joint venture between Dallas-based NewcrestImage and Phoenix-based Hospitality Capital Partners (HCP) has acquired the 153-room Courtyard by Marriott Houston Hobby Airport. The joint venture acquired the property, which is located just two miles from the airport, as part of a $137.3 million portfolio deal that comprised 16 Marriott-branded hotels totaling 2,155 rooms across nine states. Al Calhoun and Mark Fair of CBRE represented the seller, Massachusetts-based REIT Service Properties Trust, in the portfolio sale.
MIRAMAR AND JENSEN BEACH, FLA. — PGIM Real Estate has sold two Publix-anchored shopping centers in Florida to Phillips Edison & Co. for a combined $32 million. The properties include the 70,288-square-foot Shops at Sunset Lakes in Miramar and the 109,811-square-foot Town Center at Jensen Beach. Danny Finkle, Eric Williams, Jorge Portela and Kim Flores of JLL represented PGIM in both transactions. Built in 1999, Shops at Sunset Lakes was 98.4 percent leased at the time of sale to Goodwill, State Farm Insurance, Sedation Dental Spa, Small World Montessori, The Tutoring Center and Sushi Ski. Town Center Shops at Jensen Beach was built in 2000 and was 83.5 percent leased at the time of sale to tenants including Culvers, Orangetheory Fitness, Party City, Parents Choice Preschool, All Partners Network and Coastal Animal Hospital.
MAGNOLIA, TEXAS — SVN | J. Beard Real Estate — Greater Houston has arranged the sale of Renaissance Center, a 92,724-square-foot shopping center located in Magnolia, roughly 44 miles northwest of Houston. Tenants at the property, which is anchored by Brookshire Brothers and was 95 percent leased at the time of sale, include Woodforest National Bank, Petsense and Anytime Fitness. An undisclosed buyer purchased the center from a private seller. Matt Knagg and Brittany Jameson of SVN | J. Beard Real Estate represented the seller and buyer, respectively, in the transaction.
SHAWNEE, OKLA. — Marcus & Millichap has brokered the sale of Belfair of Shawnee, a 60-bed seniors housing property located on the eastern outskirts of Oklahoma City. The 31,000-square-foot property was built in 2013 and offers memory care services. Rod Llanos of Marcus & Millichap represented the seller and procured the buyer, both of which were limited liability companies that requested anonymity, in the transaction. Steve Greer of Marcus & Millichap assisted in closing the deal as the broker of record .
SAN ANTONIO — Partners Capital, the investment arm of Houston-based Partners Real Estate, has sold Blanco Crossing, a 22,606-square-foot shopping center in San Antonio. The center was built in 2002 and houses tenants such as Sake Cafe Sushi Bar & Grill, Kennedy’s Bar, Blanco Crossing Veterinary and The Mailing Spot. Philip Levy and Jack Newman of Marcus & Millichap represented Partners Capital, which originally acquired the asset in 2022, in the transasction. The buyer was an undisclosed, locally based private investor.
PORTAGE, IND. — Quantum Real Estate Advisors Inc. has brokered the $4 million sale of a 26,500-square-foot retail center in Portage, a city in Northwest Indiana. Built in the mid-2000s, the property was 89 percent leased at the time of sale to tenants such as Rush Physical Therapy, Indiana Farm Bureau and Edible Arrangements. Chad Firsel of Quantum represented the seller, an Illinois-based developer. A Colorado-based private investor completing a 1031 exchange was the buyer.
PORTLAND, ORE. — BKM Capital Partners has purchased Airport Business Center in Portland for $37.3 million. The 11-building light industrial portfolio is located at 6756 NE Alderwood Road and 6620-7040 NE 79th Court in Portland’s Columbia industrial corridor. The 228,518-square-foot business park contains 41 units with an average size of 5,600 square feet. The spaces were 92 percent occupied at the time of the sale. BKM acquired the asset through a joint venture partnership with TerraCore Capital.