AUBURN, WASH. — Scannell Properties has acquired a 7.5-acre site in Auburn for the development of a speculative industrial building. Terms of the transaction were not released. The planned 185,000-square-foot building will feature a clear height of 36 feet, 31 trailer stalls and 23 dock doors with drive-in capacity. Site work on the land is underway, with vertical construction slated to begin in spring 2027. The speculative building is Scannell Properties’ second project in the greater Seattle area, bringing the company to an investment volume exceeding $300 million and nearly 2 million square feet of development in the Pacific Northwest, including Oregon and Idaho.
NORTH CHARLESTON, S.C. — Atlanta-based SK Investment Group and locally based Weaver Capital Partners have acquired a two-building office portfolio in North Charleston for $21 million. The seller was not disclosed. The properties, Rivergate I and II, span 116,409 square feet and are located at 4975 and 4995 Lacross Road, adjacent to the $1.2 billion Roper St. Francis Healthcare campus project that is set to open in 2029. Rivergate I and II were 93 percent occupied at the time of sale.
LA PALMA, CALIF. — CBRE has brokered the sale of an office building located at 20 Centerpointe Drive in La Palma. A local private investor acquired the property from an institutional seller for $14.3 million, or $255 per square foot. Anthony DeLorenzo, Sammy Cemo, Bryan Johnson and Jackson Marlow of CBRE represented the seller in the deal. Built in 1988 on 3.5 acres, the single-story property features 56,175 square feet of office space and 194 parking spaces. At the time of sale, the building was 84 percent leased. Current tenants include Convergint Technologies, ISEC Inc. and Telecare Corp.
BARTLETT, TENN. — Cushman & Wakefield | Commercial Advisors has brokered the sale of Wolf Run Plaza, a 70,659-square-foot retail center located in Bartlett, approximately 15 miles northeast of downtown Memphis. The Memphis Business Journal reports the purchase price was $11.1 million. The property was 94 percent leased to nine tenants at the time of sale, including Guitar Center, Gould’s Academy, Burn Boot Camp, TCBY and Pump It Up. Brian Califf of NAI Saig Co. represented the buyer, Gregory Realty GP, led by local investor Hulet Gregory. Landon Williams and Ryan Thomas of Cushman & Wakefield | Commercial Advisors represented the sellers, Kosten Alan L and Susan M Kosten Living Trust and Judy Rosenblum Revocable Trust, in the transaction.
FULLERTON, CALIF. — Hanley Investment Group Real Estate Advisors and Summit Real Estate (RE) have brokered the sale of Fullerton Court, a two-story retail center adjacent to Fullerton College in Fullerton. A Newport Beach, Calif.-based private partnership sold the asset to a Los Angeles-based, private 1031 exchange investor for $12.7 million. Sean Cox and Kevin Fryman of Hanley, in association with Scott Hook of Summit RE, represented the seller, while the buyer was self-represented in the deal. Located at 444 N. Harbor Blvd., Fullerton Court was originally built in 1982 and expanded in 2004 to its current 20,309-square-foot footprint. At the time of sale, the property was fully occupied by multiple tenants, including FedEx Office, which has operated at the property for more than 25 years and extended its lease for additional 10 years, and Pixiu Mala Hongtang, which recently executed a new 10-year lease.
BOYNTON BEACH AND WEST PALM BEACH, FLA. — Atlanta-based Hunter Advisors has negotiated the portfolio sale of two hotels in South Florida’s Palm Beach County. The hotels in the 275-room portfolio include the Hampton Inn & Suites Boynton Beach and the Hampton Inn West Palm Beach Florida Turnpike. Brasswater acquired the hotels from an institutional seller. The sales price was not disclosed. Robert Taylor and Sophia Pittaluga of Hunter Advisors brokered the transaction. Hampton Inn & Suites Boynton Beach was built in 1997 and features 134 suites, an outdoor pool, 24-hour fitness center, business center and approximately 1,160 square feet of meeting space across two rooms. Hampton Inn West Palm Beach Florida Turnpike was built in 2001 and features an outdoor pool, 24-hour fitness center, business center and 624 square feet of meeting space.
CLARKSVILLE, IND. — Northmarq has brokered the sale of The Bend Apartments, a 312-unit luxury apartment community in Clarksville. Built in 2023, the property features one-, two- and three-bedroom units. Amenities include a pool, fitness center, clubhouse, ping pong and shuffleboard tables, onsite parking and a dog park. Bobby Schiavone, Jordan Arand and Adam Klenk of Northmarq represented the seller, a regional multifamily developer. The buyer was a private investor.
CANAL WINCHESTER, OHIO — JLL Capital Markets has arranged the sale of Canal Pointe Industrial Park, an 825,322-square-foot industrial portfolio in Canal Winchester near Columbus. Delivered in 2023, the property consists of two distribution facilities, including a 450,696-square-foot cross-dock facility and a 374,626-square-foot rear-load building. Both feature clear heights of 36 feet, ESFR fire protection systems, LED lighting, modern loading configurations and substantial parking for trailers and passenger vehicles. The portfolio is fully leased to three tenants operating in the logistics and electrical distribution industries. A global transportation and logistics provider occupies more than 80 percent of the portfolio’s rentable area. Ed Halaburt, Kurt Sarbaugh, Sean Devaney and Ross Bratcher of JLL represented the seller.
SIOUX FALLS, S.D. — Baldwin Supply, an independently owned Midwest distributor of industrial components and supplies, is tripling the size of its Sioux Falls branch to more than 50,000 square feet. Since opening in 2001, Baldwin’s Sioux Falls branch at 908 E. Amidon St. has grown into a regional hub serving customers throughout South Dakota, neighboring western states, southwest Minnesota and northwest Iowa. The branch serves OEM and MRO customers across the aggregate, agriculture, construction, food-and-beverage, manufacturing, meat and poultry, and mining industries. The expansion project will provide additional warehouse and office space, enabling Baldwin to stock deeper local inventory. Additional features include a dedicated customer training center and a new indoor truck pull-through with an overhead crane system. Reynolds Construction Management is leading construction, which is slated for completion in early 2027.
JOHNSTOWN, OHIO — CBRE has negotiated the $15.6 million sale of a newly developed truck stop and convenience store property occupied by 7-Eleven (Speedway) in Johnstown near New Albany. The 4,816-square-foot property sits at the entrance to the 9,000-acre New Albany International Business Park. 7-Eleven occupies the asset under a new 15-year triple-net lease. CBRE’s Melissa Marshall, Ian Schroeder and David McNevin represented the buyer, a private investor based in southern California. The seller was an Ohio-based commercial real estate developer.