FORT WORTH, TEXAS — Bradford Commercial Real Estate Services has arranged the sale of a 68,080-square-foot, vacant industrial building in North Fort Worth. The building was constructed in 1981 on a 3.9-acre site at 2500-2536 N.E. Loop 820 and can accommodate a single or multiple users. Todd Lambeth and Richard Hitz of Bradford represented the seller, an entity doing business as Direct Investment Ltd., in the transaction. The buyer, Dallas-based CanTex Capital, has also retained Bradford as the leasing agent.
GRANBURY, TEXAS — Locally based investment firm Skywalker Property Partners has purchased a 60,000-square-foot industrial facility in Granbury, located southwest of Fort Worth. Old Granbury Industrial Park consists of 11 buildings on a 9.3-acre site that were fully leased at the time of sale. Trevor Short of Trinity Real Estate Investment Services represented the undisclosed seller in the transaction. Jack Mock represented Skywalker on an internal basis.
CELINA, TEXAS — CBRE has brokered the sale of Bobcat Crossing, a 29,309-square-foot retail center located in the North Texas city of Celina. The center is located within the Carter Ranch master-planned development and is home to 13 tenants, including Sherwin-Williams and Subway. Michael Austry and Jared Aubrey of CBRE represented the seller, Standridge Cos., in the transaction. The buyer was Houston-based investment firm Stablewood.
AcquisitionsArkansasFloridaGeorgiaIndustrialNorth CarolinaSelf-StorageSouth CarolinaSoutheastVirginia
Harrison Street, Morningstar Properties Acquire 21-Property Self-Storage Portfolio
CHICAGO AND MATTHEWS, N.C. — A joint venture between Chicago-based Harrison Street Asset Management and Matthews-based Morningstar Properties has acquired a portfolio of 21 self-storage properties totaling morning than 10,800 units. The properties are located in Texas, North Carolina, South Carolina, Florida, Georgia, Virginia and Arkansas, with 71 percent of the assets situated in top 30 U.S. metropolitan areas such as Houston, Austin, Charlotte and Atlanta. The portfolio was 90 percent leased at the time of sale and spans more than 1.3 million rentable square feet. Morningstar will continue operating and managing the portfolio. The seller was not disclosed. Harrison Street and Morningstar previously completed 41 self-storage investments across five Sun Belt states.
SALEM, VA. — Cushman & Wakefield | Thalhimer has negotiated the $11.6 million sale of a 170,000-square-foot distribution facility located in Salem. ReaderLink Distribution Services LLC, the country’s largest book distributor to mass merchandisers and other non-bookstore outlets, fully occupies the facility and has been a tenant at the site for 25 years. Bo McKown of Thalhimer’s Capital Markets Group represented the undisclosed buyer in the transaction. Davis Stoneburner of Thalhimer’s Industrial Services Group will lead leasing efforts for the new ownership.
BRIDGEWATER, N.J. — Continuum Advisors has brokered the sale of Laurel Circle, a 270-unit continuing care retirement community located in the Northern New Jersey community of Bridgewater. Totaling 270 units, Laurel Circle features 183 independent living apartments, 19 independent living villas, 30 assisted living residences, 10 memory care units and 28 skilled nursing units. The property also includes several undeveloped acres for future expansion. David Kliewer and Jay Jordan of Continuum arranged the transaction. An affiliate of Maxwell Group and Senior Living Communities was the buyer. The seller, a joint venture that included seniors housing owner-operator LCS, recently invested more than $15 million in capital improvements to the property.
NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has arranged the $24 million sale of a multifamily development site in the Park Slope area of Brooklyn. The assembled site at 67-75 4th Avenue and 77 St. Marks Place can support 84,780 buildable square feet of product. Sean Kelly, Stephen Vorvolakos and Nicole Daniggelis of Ariel represented the seller, private investor Tolib Mansurov, in the transaction. The buyer was another private investor, Shimon Kleinman.
CARLSBAD, CALIF. — Pacific Development Partners has completed the sale of an 85,000-square-foot office building, located at 1265 Laurel Tree Lane in Carlsbad, to Sharp HealthCare for $31 million. Lars Eisenhauer and Dan Henry of CBRE, along with Greg Lewis and Steven Field of JLL, represented the seller, while Mike Labelle of Cushman & Wakefield represented the buyer in the transaction. Initially developed for the 24 Hour Fitness corporate headquarters, the three-story property features a ground-floor fitness facility and two floors of corporate office space. Sharp HealthCare plans to convert the top floor into a Sharp Rees-Stealy outpatient clinic with immediate occupancy and grow into the balance of the building over time. 24 Hour Fitness will continue to operate out of the first and second floors until the phased conversion is complete.
GILBERT, ARIZ. — Kidder Mathews has arranged the $13 million sale of Lindsay Square, a 46,728-square-foot neighborhood shopping center located in Gilbert, a suburb of Phoenix. Tenants at the property include a mix of service-oriented retailers such as a daycare, fitness center, veterinary clinic, dry cleaner and specialty schools, as well as various restaurants. Jenette Bennett and Michelle Gardner of Kidder Mathews represented the buyer, a Washington-based family investment firm.
PHOENIX — A partnership between Dorn Properties and Far Western Properties has completed the disposition of Parkway Apartments in Phoenix to Parkway Apartments LLC for $4.5 million, or $125,000 per unit. Located at 5407 W. Glenrosa Ave., Parkway Apartments offers 35 two-bedroom/two-bath units and a one-bedroom/one-bath unit. All apartments are individually metered for electricity and feature large private front patios. The community was built in 1963. Brian Smuckler and Derek Smigiel of JLL represented the seller in the deal.