HUNTINGTON PARK, CALIF. — SRS Real Estate Partners has arranged the acquisition of a retail property located at 3111 E. Florence Ave. in Huntington Park. A Mexico-based private investor purchased the asset from a Los Angeles-based private investor for $11.3 million. Smart & Final occupies the 28,000-square-foot property, which was built in 2018 on 1.3 acres. The property offers ample onsite parking, including a rooftop parking area. Joe Chichester, John Redfield and Kyle Zimmer of SRS Capital Markets represented the buyer in the deal.
GEORGETOWN, TEXAS — Baer Manufacturing, an affiliate of Hunt Electric Corp., has signed a 606,000-square-foot, build-to-suit industrial lease in the northern Austin suburb of Georgetown. The company will occupy the entirety of one of the two buildings that are planned for Phase II of Crosspoint Business District, a development by North Texas-based Jackson-Shaw. The second building will be developed on a speculative basis. Construction of both buildings is set to begin in the coming days and to last about a year. Baer Manufacturing has also leased about 73,000 square feet of the remaining space within Phase I of Crosspoint Business District to serve as a temporary operational area while the build-to-suit facility is under construction. Darryl Dadon and Olivia Reed of CBRE represented Jackson-Shaw in the lease negotiations. Carter Thurmond of Endeavor Real Estate Group and Chris Weirens of Stack Industrial Partners represented the tenant.
FORT WORTH, TEXAS — Stockyards Heritage Development Co., which is a partnership between California-based Majestic Realty and Fort Worth-based Hickman Cos., will undertake a $30 million renovation of two hospitality properties in the historic Stockyards District in downtown Fort Worth. The renovation of the Stockyards Hotel and H3 Ranch will deliver upgraded infrastructure and a refreshed dining room, as well as other updates to preserve the properties’ historic character. The hotel first opened in 1907, and the H3 Ranch debuted in 1998. Work is set to begin in early April, with the H3 Ranch scheduled to reopen by the end of the year. The hotel will reopen in early 2027.
BEE CAVE, TEXAS — Velocis, a Dallas-based investment and development firm, has sold West Austin Business Park, a 270,000-square-foot industrial property in Bee Cave, a western suburb of Austin. Velocis developed the property, which consists of three buildings that were constructed on a speculative basis, in partnership with KBC Advisors. The buyer, locally based aerospace engineering firm CesiumAstro, plans to establish a manufacturing and research headquarters facility at West Austin Business Park.
FORT WORTH, TEXAS — Marcus & Millichap has brokered the sale of Overton Park Professional Center, an 18,102-square-foot medical office complex in Fort Worth. The two-building property was built in 2000 and was fully leased at the time of sale. Chris Gainey and Philip Levy of Marcus & Millichap represented the seller, a local private partnership, in the transaction. Levy also procured the buyer, a New York-based 1031 exchange investor, in conjunction with Marcus & Millichap’s Zan Colin.
DURHAM, N.C. — Atlanta Property Group (APG) has acquired North 70 Distribution Center, a 250,000-square-foot, vacant distribution facility located at 224 N. Hoover Road in Durham. This acquisition marks APG’s first industrial investment in the Durham submarket. The seller was not disclosed. Situated in Research Triangle Park along the I-40 corridor, North 70 Distribution Center spans 16 acres and features 26 dock-high doors, two drive-in doors, 22-foot clear heights, tilt-wall construction, LED warehouse lighting, parking spaces for cars and trailers and more than 3 acres of secured outdoor storage. The existing walls and office build-outs allow for single-tenant or multi-tenant configurations, with the ability to accommodate users ranging from approximately 50,000 to 250,000 square feet. Approximately 40 percent of the facility is air-conditioned.
GERMANTOWN, TENN. — A joint venture between locally based Fogelman Properties and Dallas-based Thackeray Partners has acquired The Vineyards, a 200-unit luxury apartment complex located in Germantown, roughly 21 miles southeast of Memphis. The seller and sales price were not disclosed. This transaction marks the 18th acquisition for the Fogelman-Thackeray partnership, which comprises more than 4,000 units. Built in 1997, The Vineyards offers one-, two- and three-bedroom apartments ranging in size from 778 to 1,661 square feet, according to Apartments.com. Amenities at the property include a fitness center, business center, clubhouse, swimming pool, picnic area and onsite maintenance, as well as walking and biking trails. Fogelman plans to renovate unit interiors, build a new pickleball court and enhance the clubhouse, fitness center, grilling pavilion and pool areas. The property, which was 93 percent occupied at the time of sale, is managed by Fogelman.
CHARLESTON, S.C. — The Container Collective, a holistic wellness center and coworking community for practitioners, will relocate to Morris Square, a mixed-use redevelopment in downtown Charleston. Formerly situated at 210 Coming St., The Container Collective has purchased a ground-floor condominium to relocate its wellness and massage therapy practice to 21 Jasper St. Renovations are expected to begin soon, with the new location opening upon completion. GiGi Gilden and Jack Owens of NAI Charleston represented The Container Collective in the transaction. Shea Robbins of Carolina One Real Estate represented the undisclosed seller. The sales price was also not disclosed.
LINCOLN, NEB. — CBL Properties has acquired Gateway Mall in Lincoln for $43.5 million from Washington Prime Group. CBL financed the acquisition with a $21 million loan provided by Symetra Life Insurance Co. The five-year loan features a fixed interest rate of 6.46 percent. The property totals roughly 843,000 square feet. Anchor tenants include Dillard’s, JC Penney, Dick’s Sporting Goods, Round 1, H&M, Ulta, Ross Dress for Less, Sierra, Tesla and Total Wine & More. In a separate transaction, CBL has entered into a contract for the sale of an open-air center at an approximately 8 percent capitalization rate. The transaction is expected to generate net proceeds after debt repayment of $25 million and is anticipated to close in April.
CARMEL, IND. — CBRE has brokered the sale of Village Park Plaza, a 290,016-square-foot shopping center in the Indianapolis suburb of Carmel. CBRE’s National Retail Partners Midwest team represented Washington Prime Group in the sale of the property to Pine Tree, which acquired the asset in partnership with a state pension fund. Tenants include Kohl’s, Hobby Lobby, Ross Dress for Less, Ulta and Dollar Tree. The property was 99 percent leased at the time of sale.