BROOKLYN PARK, MINN. — Sealy & Co. has acquired a newly constructed industrial building totaling 221,128 square feet in the Minneapolis suburb of Brooklyn Park. The purchase price was undisclosed. Located at 10600 Xylon Ave. N., the facility is fully leased to multiple tenants. The property features a clear height of 32 feet, 50 dock-high doors, two drive-in doors and abundant auto and trailer parking. Jason Gandy and Davis Gibbs represented Sealy on an internal basis. Scannell Properties was the seller.
OHIO AND VIRGINIA — Marcus & Millichap has arranged the $7.4 million sale of a four-property retail portfolio occupied by Childtime Daycare in Ohio and Virginia. The net-leased properties are located in Fairborn, Centerville and Blue Ash, Ohio, as well as Midlothian, Va. Dominic Sulo of Marcus & Millichap represented the seller of the Ohio buildings, a Michigan-based limited liability company. Sulo and colleague Eric Luhrsen represented the seller of the Virginia property, a North Carolina-based limited liability company. Sulo and colleague Hank Wolfer secured the undisclosed buyers.
LOS ANGELES — A fund sponsored by CBRE Investment Management has acquired a portfolio of 14 self-storage assets located in Southern California and Utah that totals 8,697 units. The fund now owns 100 self-storage properties across the U.S., totaling 55,477 units. The seller and price were not disclosed. The self-storage assets, which will operate under the StorQuest brand, are primarily single-story, drive-up units in the key infill markets of Los Angeles, the Inland Empire, San Diego and Salt Lake City. The portfolio includes a mix of indoor, climate-controlled units and outdoor units. The properties are currently 95 percent leased. Nick Walker of CBRE’s National Self Storage Advisory Group represented the seller in the transaction. Tom Traynor and James Millon of CBRE’s Large Loans division, along with Talonvest, arranged the financing in the transaction.
DENVER — A California-based legacy real estate family has acquired the 31-unit multifamily property at 2444 S. York St. in Denver for $6.5 million. Mike Krebsbach and Kenny Clarke of Pinnacle Real Estate Advisors represented the buyer, and were able to secure an 18.35 percent discount, equating to a nearly $1.5 million price reduction, over the asset’s original listing price when it had gone under contract with another buyer. The buyer also assumed the seller’s low-leverage loan. The listing broker was Kyle Malnati of Calibrate Real Estate. The seller was not disclosed.
ST. PETERSBURG, FLA. — Northmarq has brokered the sale of Aura @ 4th, a 150-unit garden-style apartment community in St. Petersburg. McCann Investments, a Tampa-based investment firm, sold the community to TRIG Investment Group, a California-based private multifamily investment company, for an undisclosed price. Luis Elorza, Justin Hofford and Kevin Mosher of Northmarq’s Tampa office brokered the transaction. Aura @ 4th was constructed in 2016 and features a unit mix that consists of 40 percent one-bedroom and 60-percent two-bedroom units at an average unit size of 1,087 square feet. The property’s amenity package includes a resort-style pool, clubhouse, 24-hour fitness center, outdoor covered lounge area, stainless steel Weber grills, picnic areas, bark park and a cyber café.
NEWPORT BEACH, CALIF. — Buchanan Street Partners has sold a two-building, 42,697-square-foot office property to a private Newport Beach real estate firm for $20.4 million. Buchanan purchased the offices in 2020 for $11.5 million. Located at 1400 and 1420 Bristol St. N., the property was 22 percent leased at the time of sale. Buchanan had initially planned to carry out an adaptive reuse initiative at the property until the buyer, a residential developer, showed interest.
LOS ANGELES — Keller Williams Commercial has negotiated the sale of The Glendon, a 27-unit apartment building in the Palms submarket of West Los Angeles. Glendon LP acquired the asset for $11.5 million. Built in 1986, the community is located at 3724 Glendon Ave. Matthew Kanner of Keller Williams Commercial and president of the Kanner Group, represented both the buyer and the seller, JEB Properties, in this transaction. The closing cap rate was 3.84 percent, with price per unit of $427,778.
HERNDON, VA. — Progress Capital has arranged a $60.5 million acquisition loan for South Lake at Dulles Corner Business Park, a 270,000-square-foot office building in Herndon leased to Amazon. Brad Domenico of Progress Capital arranged the loan through Societe Generale Corp. on behalf of the borrower, Vision Properties. The loan features five years of interest-only payments. The seller was not disclosed. Built in 2008 and renovated in 2020 ahead of Amazon’s occupancy, the 10-story office building features a new fitness center, full-service café, modern conference facilities, tenant gaming rooms, outdoor dog park, bicycle room and a 921-space parking garage with EV charging stations. South Lake is located within Dulles Corner Business Park at 13820 Sunrise Valley Drive, which is near Dulles International Airport and the Silver Line Innovation Center Metro station.
ASHEVILLE, N.C. — Clarion Partners Real Estate Income Fund Inc., an investment vehicle sponsored by New York-based Clarion Partners, has acquired Retreat at Weaverville, a 176-unit apartment community in Asheville. The seller and sales price were not disclosed. Completed in 2021, the property sits on a 16.9-acre site within one mile of I-26. Community amenities include a clubhouse, coffee bar, dog park and dog wash station, fitness center, yoga and spin room, office workspaces and a swimming pool. The new, undisclosed property manager will complete numerous amenity upgrades over the next year at Retreat at Weaverville, including pool furniture upgrades, clubhouse enhancements, the installation of property access gates, the addition of a parcel locker and elevated landscaping.
BELLEVILLE AND ROMULUS, MICH. — Crestlight Capital, in partnership with Sabal Investment Holdings, has acquired a four-property industrial portfolio totaling 1.1 million square feet near the Detroit Metropolitan Wayne County Airport. The purchase price was undisclosed. The buildings are located at 7525 and 6505 Cogswell St. in Romulus and 41133 and 41199 Van Born Road in Belleville. They are fully leased to various tenants. Crestlight has retained Dan Labes, Jack Coury and Chris Hill of Newmark to manage and lease the buildings.