CARROLLTON AND ADDISON, TEXAS — Metro Philadelphia-based CenterSquare Investment Management has acquired a two-property industrial service portfolio totaling 86,388 square feet in the northern Dallas metros of Carrollton and Addison. Known as Metropolitan Infill, the portfolio offers suites averaging approximately 5,400 square feet in size with 12- to 16-foot clear heights and a mix of dock-high and grade-level loading doors. The portfolio was fully leased at the time of sale.
MAHWAH AND FAIRFIELD, N.J. — Cushman & Wakefield has brokered the sale of a portfolio of two industrial buildings totaling 123,821 square feet in Northern New Jersey. The first building is a 67,170-square-foot structure in Mahwah that was fully leased at the time of sale to Beacon Roofing Supply. The second building is a 56,651-square-foot facility in Fairfield that houses the headquarters of Precision Textiles. Gary Gabriel, Kyle Schmidt, Ryan Larkin and Seth Zuidema of Cushman & Wakefield represented the seller, Alexander Properties Group, in the transaction. The buyer was Faropoint.
SARATOGA SPRINGS, N.Y. — Regional owner-operator Maine Course Hospitality Group has purchased the 113-room Homewood Suites Saratoga Springs hotel, located north of Albany. The extended-stay hotel was built in 2017 and offers amenities such as a fitness center, business center, indoor pool and a sport court. Denny Meikleham and John Kluh of Berkadia represented the seller, a joint venture between DelMonte Hotel Group and XSS Hotels, in the transaction.
NORTH LAS VEGAS, NEV. — CapRock Partners has completed the sale of CapRock Point @ Cheyenne, a Class A industrial facility located at 3921 E. Cheyenne Ave. in North Las Vegas, to EastGroup Properties for an undisclosed price. Developed in 2022 by CapRock Partners, CapRock Point @ Cheyenne features 101,332 square feet of industrial warehouse space. The fully leased property features a clear height of 30 feet, 13 dock-high doors, two grade-level doors, 107 auto stalls, ESFR sprinklers, 2,000 amps of power, flexible configuration and 3,027 square feet of office space. Michael Kendall and Gian Bruno of Colliers led the transaction, with local support from Dan Doherty, Paul Sweetland and Jerry Doty of Colliers.
CAMAS, WASH. — Forging Union LLC has acquired a multi-tenant retail strip center in Camas from Hurley Development for $18.7 million. The 35,547-square-foot property is fully occupied by 15 tenants, including businesses focused on financial services, health and fitness, and food and beverage tenants with triple-net leases. The property is situated on 2.5 acres at 301 N.E. 192nd Ave. Wes Bochner of CBRE represented the buyer in the deal.
BEAVERTON, ORE. — Gantry has secured a $12.4 million structured financing package aligning a bridge loan execution and preferred equity for the purchase of an industrial facility in Beaverton. Located at 10025 S.W. Allen Blvd., the 50,400-square-foot Class B property is fully lease to two tenants. Situated on 6.9 acres, the property includes 2 acres of fenced outdoor storage capacity. Mike Wood and Tim Brown of Gantry represented the sponsor, a private real estate investor. The structured equity and debt package was secured from one of Gantry’s correspondent life company lenders. The financing includes a five-year loan with upfront interest-only transitioning to a 25-year amortization schedule. Gantry will service the loan on behalf of its correspondent.
ORLANDO, FLA. — Crescent Communities has sold NOVEL Nona, a 260-unit apartment community in Orlando’s Lake Nona neighborhood, to an undisclosed, private real estate management company. The Charlotte-based developer broke ground on the property in 2021. NOVEL Nona features a fitness center with a dedicated studio for yoga and spin classes, coworking spaces, a saltwater pool with cabanas, bike storage, walking trails, a conservation area, top-floor lounge with TVs and a craft cocktail bar, two courtyards, firepits and grills. Crescent Communities recently announced the appointment of Greg Minder to lead strategy, development and execution across the company’s multifamily presence in Tampa, Orlando and Jacksonville. The developer currently has several properties in the construction stages in those markets.
NASHVILLE, TENN. — Boyle Investment Co. has acquired Woodmont Centre, a two-building office park located at 102 and 104 Woodmont Blvd. in Nashville. The property is situated at near I-440 on the outskirts of the city’s Belle Meade neighborhood. The complex comprises a nine-story office building and a five-story office building connected by a shared lobby, along with a multi-level parking garage accommodating approximately 500 vehicles. The undisclosed seller began capital improvements to Woodmont Centre that Boyle Investment plans to complete. The sales price was not disclosed.
VICTORVILLE, CALIF. — Pacific Coast Commercial has arranged the purchase of a multi-tenant retail property located at 14190 Bear Valley Road in Victorville. The 11,618-square-foot asset traded for $6.1 million. Vince Provenzano and Michael Sikorski of Pacific Coast Commercial represented the buyer, while Rick Helmonds and Lance Mordachini of Progressive Real Estate Partners represented the seller in the transaction. Sunflower Bank provided acquisition financing for the deal.
MILWAUKEE — CBRE has arranged the sale of a four-property, 358-unit multifamily portfolio in Milwaukee for $29.7 million. The portfolio includes Parkview Apartments, Lisbon Court, Hampton Gardens and Grantosa Apartments. The garden-style properties include parking, laundry facilities, community spaces and patios or balconies for most units. CBRE’s Matson Holbrook, Gretchen Richards, Sean Beuche and Patrick Gallagher represented the seller, Milwaukee-based Metropolitan Associates. Brookfield, Wis.-based Coachlight Communities LLC was the buyer.