STOCKBRIDGE, GA. — A joint venture between ShopOne Centers REIT Inc., Pantheon and an undisclosed global institutional investor has purchased Stockbridge Lakes, a 78,605-square-foot shopping center located at 250 E. Atlanta Road in Stockbridge, roughly 20 miles southeast of Atlanta. The seller and sales price were not disclosed, but the Atlanta Business Chronicle reports Marietta, Ga.-based Retail Planning Corp. was the seller. Publix anchors the shopping center, which also houses Burn Boot Camp, Great Clips, Dr. Brown Pediatric Dentistry and Domino’s Pizza. Stockbridge Lakes has approximately 9,000 square feet of available space.
TYLER, TEXAS — Locally based brokerage firm Scarborough Commercial Real Estate has arranged the sale of a 157,379-square-foot warehouse in Tyler, about 100 miles east of Dallas. According to LoopNet Inc., the building at 13343 I-20 E was built on 37.2 acres in 1959, renovated in 2009 and features 23-foot clear heights and 12 dock-high doors. Sam Scarborough of Scarborough Commercial Real Estate represented the seller in the transaction, and Brian Burks of Landbridge Commercial Properties represented the buyer. Both parties requested anonymity.
ELK GROVE, CALIF. — Hanley Investment Group Real Estate Advisors has directed the purchase of The Shops at Laguna Reserve, a fully leased, 33,308-square-foot retail center in Elk Grove. Los Angeles-based Bershon Realty Co. acquired the property from a Roseville, Calif.-based private investor for $19.2 million. Located at 10040-10064 Bruceville Road, The Shops at Laguna Reserve spans four parcels totaling 4.1 acres at the hard-corner, signalized intersection of Whitelock Parkway and Bruceville Road. The property’s six pad buildings were constructed in 2005, with the addition of Safeway in 2024. Current tenants include Starbucks Coffee, Pacific Dental, Bank of America, Round Table Pizza, a nail salon, dry cleaners, pet hospital, pet groomer and specialty food shops. Bill Asher and Jeremy McChesney of Hanley Investment Group represented the buyer, while Adam Rainey, Pat Ronan and Aman Bains of Gallelli Real Estate represented the seller in the deal. The sale included the fee-simple interest in the six buildings and underlying land. Safeway was not part of the transaction.
BRENTWOOD, CALIF. — Senior Living Investment Brokerage (SLIB) has brokered the sale of Westmont of Brentwood, a 132-unit community in Northern California. Built in 2007 and situated on 4.5 acres approximately 45 miles east of Oakland, Calif., the property offers independent living, assisted living and memory care services. The sales price was not disclosed. The buyer, an unnamed private equity group with a background in seniors housing, is partnering with an established West Coast operator that is expanding its presence in California. With the sale of Westmont of Brentwood, the unnamed seller has exited the space. Brad Goodsell, Jason Punzel, Vince Viverito, Jake Anderson and Taylor Graham of SLIB handled the transaction.
HENDERSON, NEV. — Pecos Beltway Holdings LLC has completed the sale of two single-story office buildings within Pecos 215 Plaza in Henderson. A private buyer acquired the multi-tenant property for $5.9 million. Located at 8905 and 8935 S. Pecos Road, the asset offers 21,908 square feet of office space. Michael Hsu of CBRE represented the seller in the transaction.
LENEXA, KAN. — Gordon Brothers has acquired the former Heartland Coca-Cola production facility in Lenexa. Heartland Coca-Cola has expanded its operations to a larger facility, and the production assets and property in Lenexa were no longer required. Gordon Brothers plans to decommission and sell the existing bottling equipment with the firm’s auction partner, New Mill Capital, followed by capital improvements to enhance the property’s marketability for future sale or lease. The machinery and equipment auction begins closing Wednesday, Nov. 12. The property includes a 186,073-square-foot building situated on nearly 9 acres with a clear height of 18 feet, 22 dock-high doors, two drive-in doors and 11,000 amps via three electrical services. Gordon Brothers has retained Kessinger Hunter to provide construction management, property management and brokerage services to re-tenant or sell the building. The building will hit the market in the coming months. The Kessinger Hunter team includes Kurt Jensen, Stewart Jensen and Dan Jensen.
NEW YORK CITY — A partnership between Slate Property Group and Avenue Realty Capital has acquired 81 Franklin, an 11-unit apartment building in Manhattan’s Tribeca neighborhood, for $30 million. The six-story, 32,70-square-foot building, which was originally constructed as an office building and converted to residential use in 2013, houses loft-style residences that come in one-, two-, three- and four-bedroom layouts. Guthrie Garvin of JLL represented the undisclosed seller in the transaction. The partnership was represented in-house. White Oak Real Estate Capital provided acquisition financing for the deal.
FRANKLIN, N.J. — JLL has negotiated the sale of a 200,000-square-foot vacant office building in Franklin, located in Central New Jersey. Known as 200 Franklin Square, the four-story building sits on a 12.2-acre site and formerly housed the headquarters of Philips Electronics. Jose Cruz, Jeremy Neuer, Ryan Robertson, Nicholas Stefans and Jason Lundy of JLL represented the undisclosed seller in the transaction and procured the buyer, regional development and investment firm Axria Inc., which plans to redevelop the property. The new ownership did not provide details on redevelopment plans, but the site can support a range of commercial uses, including office, medical, educational and light industrial.
MORRIS PLAINS, N.J. — Local developer Chopp Holdings has sold an 89,100-square-foot office building in Morris Plains, about 30 miles west of New York City, for $10.2 million. The three-story building sits on a 16.5-acre site at 201 Littleton Road and recently underwent capital improvements. David Bernhaut, Frank DiTommaso, Andrew Schwartz, Jordan Sobel, Andre Balthazard, Dan Bottiglieri and Bill Baunach of Cushman & Wakefield represented the seller and procured the buyer, an affiliate of Agadia Systems Inc., in the transaction. Brian Anderson and Eddie Miro, also with Cushman & Wakefield, arranged acquisition financing for the deal.
ACTON, MASS. — Marcus & Millichap has brokered the $5.8 million sale of a 76,251-square-foot industrial and office complex in Acton, located northwest of Boston. The complex at 930 Main St. consists of seven buildings that collectively house about 61,700 square feet of warehouse space and 14,500 square feet of office space. Luigi Lessa, Harrison Klein and Mattias Edenkrans of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.