HOUSTON — Colliers has brokered the sale of a 6.9-acre industrial outdoor storage facility in northwest Houston. The facility at 14333 Sommermeyer St. features 80,295 square feet across two buildings as well as additional outdoor storage space. Jason Tangen and Barrett Gibson of Colliers represented the undisclosed seller in the deal. C.W. Sheehan, Jack Britton, Peyton Ackerman and Nate Henderson of JLL arranged acquisition financing on behalf of the buyer, Apricus Realty Capital, which was represented by Paul Dominique of Colliers.
WEST NEW YORK, N.J. — CBRE has negotiated the $2.9 million sale of a 12-unit apartment building located in the Northern New Jersey community of West New York. The two-story building at 440 60th St. features two floors of commercial space and three floors that house two-bedroom units. Fahri Ozturk, Richard Gatto, Tracy Trank and Zach McHale of CBRE represented the seller in the transaction. CBRE also procured the buyer. Both parties requested anonymity.
PHOENIX — Conor Commercial Real Estate, along with Globe Corp. as capital partner, has won the auction for a 40-acre parcel of land at East Deer Valley Drive and North 7th Street in Phoenix. Conor won the land site with a $24.7 million bid. The company plans to develop a 453,708-square-foot industrial project with four buildings ranging from 88,512 square feet to 167,040 square feet. The buildings will be designed for light distribution, assembly or advanced manufacturing with 32- to 36-foot clear heights, a minimum of 3,000-amp electrical service for each building, oversized drive-in doors and abundant employee parking. Construction is slated to begin in early second-quarter 2026 with completion planned for late in the second quarter of 2027. McShane Construction Co. and Ware Malcomb will provide design-build services and Kimley-Horn will provide civil engineering services for the project.
LAS VEGAS — Northcap Commercial has brokered the sale of Woodridge Villas Apartments at 1591 Chartered Circle in Las Vegas. The asset traded for $17.7 million, or $108,232 per unit. Built in 1988, the property offers 164 apartments. Robin Willett, Devin Lee and Jerad Roberts of Northcap Commercial represented the seller and procured the buyer in the deal.
SCOTTSDALE, ARIZ. — Bell Bank has purchased a 37,495-square-foot office building at 14631 N. Scottsdale Road in Scottsdale. A private seller sold the asset for $10.3 million. Situated on 112,000 square feet of land, the property is currently 84.5 percent leased. Bell Bank intends to occupy the building and expand its footprint over time as space becomes available. Geoffrey Turbow of CBRE, in collaboration with Shay Bolton and Kirill Azovtsev of Savills, represented the seller in the deal.
NASHVILLE, TENN. — San Francisco-based Shorenstein Investment Advisers has purchased 1222 Demonbreun, a 20-story, Class A office tower located in Nashville’s Gulch district. The 330,474-square-foot property was 97 percent leased at the time of sale and represents Phase I of the Gulch Union mixed-use development. The seller and sales price were not disclosed, but the property was delivered in 2020 by a joint venture between Austin-based Endeavor Real Estate Group and Dallas-based Granite Properties. 1222 Demonbreun’s amenities include an indoor-outdoor sky lounge, 48-seat training room, fitness center, micro-market and more than 900 covered parking spaces.
MORRISVILLE AND CHAPEL HILL, N.C. — Principal Asset Management has acquired two active adult communities in the Raleigh-Durham region totaling 373 units. The properties include Overture Cary, located at 1055 Hatches Pond Lane in Morrisville, and Overture Chapel Hill, situated near the Highway 54 and I-40 interchange and the University of North Carolina at Chapel Hill. The communities were developed in 2021 and 2020, respectively, and stand at five stories. The seller and sales price were not released.
BOCA RATON AND VERO BEACH, FLA. — Funds managed by affiliates of Fortress Investment Group have sold two seniors housing communities located in Florida. Totaling 178 units, the communities include Sonata Boca Raton and Sonata Vero Beach. JLL Capital Markets brokered the sale on behalf of the seller. Agewell Solvere Living will remain in place as the operator at both communities. The buyer and sales price were not disclosed.
JACKSONVILLE, FLA. — Miami-based Simi Capital Group has purchased a 75,000-square-foot industrial property located at 4549 St. Augustine Road in Jacksonville. The seller was a family entity that owned the property for more than 50 years. The sales price was not disclosed. Simi Capital Group is repositioning the asset into a small bay industrial park with modern suites ranging in size from 1,500 to 4,500 square feet. Upgrades will include upgraded offices, LED lighting, exterior finishes and a fully secured site with an automated gate and 24/7 camera surveillance. The park was originally developed in 1973, according to LoopNet Inc.
BROWNSBURG, IND. — Marcus & Millichap has arranged the $4.3 million sale of a single-tenant, net-leased industrial building in the Indianapolis suburb of Brownsburg. Located at 464 Southpoint Circle, the property comprises 64,176 rentable square feet on 5.6 acres. Built in 1975, the facility is fully occupied by Nucleated Technologies. Sam Curtis, Joseph DiSalvo and Forest Bender of Marcus & Millichap represented the seller. The all-cash transaction closed in under 30 days.