WESTFIELD, N.J. — Marcus & Millichap has brokered the $5 million sale of a 10,369-square-foot office building in the Northern New Jersey community of Westfield. The two-story building at 1 Elm St. was originally constructed in 1922 and renovated in 2018 and was fully leased at the time of sale. Alan Cafiero and David Cafiero of Marcus & Millichap represented the undisclosed seller in the transaction. The buyer was also not disclosed.
SAN JOSE, CALIF. — Barings has completed the sale of The Orchards, a Class A office and research and development campus at 3000 and 3030 Orchard Parkway in San Jose. Rosendin Electric acquired the asset for an undisclosed price in an off-market transaction. Joe Kelly, Jon Mackey, Steve Golubchik and Edmund Najera of Newmark represented the seller, while Mike Rosendin of Colliers represented the buyer in the deal. The two-story building at 3000 Orchard Parkway features high clear-height spaces and prominent signage, while the three-story building at 3030 Orchard Parkway is equipped for high-density operations with fitness centers, training rooms and collaborative workspaces.
TUCSON, ARIZ. — Cushman & Wakefield | PICOR has arranged the sale of Glenn East, a multifamily complex at 2333 E. Glenn St. and 2315 E. Glenn St. in Tucson. J and J Glenn East SFR LLC and J and J Glenn East LLC purchased the asset from LO PLA LLC and Glenn East LLC for $4.4 million. The 30,820-square-foot property features 47 apartments. Allan Mendelsberg and Joey Martinez of Cushman & Wakefield | PICOR handled the transaction.
NORTH CHARLESTON, S.C. — JLL has negotiated the sale of Airport Commerce Center, a three-building, 398,100-square-foot industrial park situated directly adjacent to Charleston International Airport and Joint Base Charleston. Built in 2017, the facilities are located at 7246 Stall Road, 2650 Fassitt Road and 7334 Stall Road in North Charleston, approximately one mile from I-26. Pete Pittroff, Dave Andrews and Michael Scarnato of JLL represented the seller, Brookwood Capital Partners, in the transaction. NorthPoint Development acquired Airport Commerce Center for an undisclosed price. The three facilities were fully leased at the time of sale to multiple tenants, including manufacturing, distribution and last-mile logistics companies. The properties feature 200- to 260-foot depths, front-load and rear-load configurations, 28- to 30-foot clear heights, ESFR fire protection systems, LED lighting and a combined 305 automobile parking spaces.
ALPHARETTA, GA. — Principal Asset Management has sold a 185,000-square-foot, 15.2-megawatt (MW) data center in Alpharetta, a northern suburb of Atlanta. The buyer and sales price were not disclosed, but the acquisition included developable land adjacent to the data center. A U.S.-based data center fund managed by Principal purchased the facility in 2022 in a joint venture with Lincoln Rackhouse, a division of Lincoln Property Co. The single-story data center was leased to two unnamed companies at the time of sale, one of which is a Fortune 100 financial services firm. The data center was originally built in 2009 as a build-to-suit for a telecommunications tech company.
KINGSPORT, TENN. — Cushman & Wakefield Commercial Advisors has brokered the sale of a three-property office portfolio in Kingsport, a city near the Tennessee-Virginia border. The properties — 4, 7 and 8 Sheridan Square — span 90,723 square feet combined and serve the Bristol-Johnson City-Kingsport region. Landon Williams and Katie Hargett of Cushman & Wakefield Commercial Advisors, along with Miguel Alcivar of Cushman & Wakefield, represented the seller, Raptor Realty Investments 7 LLC, in the transaction. Gary Heeseman of Franklin Street represented the buyer, a locally based investment group doing business as AG Commercial GP.
GRAYSON, GA. — FrostPoint Capital, an investment firm based in West Palm Beach, Fla., has acquired Olde Towne Grayson, a 13,896-square-foot retail strip center in Grayson, a northeast suburb of Atlanta in Gwinnett County. The property, which FrostPoint is rebranding as Grayson Square, was fully leased at the time of sale to tenants including AutoZone, Lendmark Financial, Little Caesars Pizza, JB’s Barbershop and Katie’s Sports Bar & Grill. Marc Irvin and Matthew Welch of Marcus & Millichap brokered the transaction. The seller and sales price were not disclosed.
GAYLORD, MICH. — SRS Real Estate Partners has negotiated the $7.6 million sale of Shops at Edelweiss Village, a 51,857-square-foot shopping center located at 859 Edelweiss Village Parkway in Gaylord, a city in northern Michigan. Built in 2004 and situated on nearly 13 acres, the property is 78 percent occupied and was sold as a value-add opportunity. Dollar Tree is the anchor tenant. Additional tenants include Pet Supplies Plus, Kay Jewelers, AT&T and Sally Beauty. Matthew Mousavi and Patrick Luther of SRS represented the seller, a Michigan-based family partnership. Kevin Jappaya, David Jappaya and Preston Rabban of KJ Commercial Real Estate Advisors represented the buyer, a Michigan-based group of private investors and owners of retail centers throughout the state.
CHICAGO — Greenstone Partners has brokered the $3.6 million sale of two multifamily properties located at 1343 N. Western Ave. and 1045 N. California Ave. in Chicago’s Wicker Park and Smith Park neighborhoods. Jordan Multack and Jacob Goldstein of Greenstone represented the seller, a Chicago-based private investor. The buyer was also a private investor. The assets feature spacious layouts, rooftop decks and onsite parking.
HUMBLE, TEXAS — Dallas-based STAG Industrial has acquired PortNorth 59, a 462,250-square-foot logistics facility in Humble, a northeastern suburb of Houston. The cross-dock facility sits on a 22.2-acre site and was completed in late 2024. Building features include 36-foot clear heights, 84 dock doors, four drive-in doors, 17,984 square feet of office space and parking for 231 cars and 101 trailers. PortNorth 59 was fully leased to two tenants at the time of sale. Trent Agnew, Charles Strauss, Lance Young, Brooke Petzold and Dawson Hastings of JLL represented the seller, Phelan Bennett Development, in the transaction.