AMARILLO, TEXAS — Marcus & Millichap has negotiated the sale of I-40 Storage, a 396-unit storage facility in Amarillo. Built in 2003 on 11.5 acres, roughly 1.9 of which are undeveloped, the facility spans 199,905 net rentable square feet across 353 covered parking spaces, eight enclosed spaces, 10 open parking spaces and 25 self-storage units. Mixson Staffel, Dave Knobler and Charles LeClaire of Marcus & Millichap represented the undisclosed seller in the transaction. The Michigan-based buyer also requested anonymity.
TAMPA, FLA. — A joint venture between Enverra Real Estate Partners and a New York City-based family office has acquired 1 North Dale Mabry, a 13-story, 260,000-square-foot office tower in the Westshore submarket of Tampa. The seller and sales price were not disclosed, but Business Observer Florida reports that Bridge Investment sold the property in a short-sale for $40 million, roughly five years after acquiring the property for $56.5 million. The office property offers floor-to-ceiling windows, a fitness center, conference facility and a renovated lobby. Additionally, 1 North Dale Mabry is home to various tenants such as Travelers Insurance, Marsh & McLennan Agency, Rissman Law Firm, Ideal Image and PCL Construction. Atlanta-based Enverra plans to invest $4 million to elevate the property with a coffee bar, landscaped outdoor terrace and upgrades to the current fitness center, conference facilities and other common areas.
AUSTIN, TEXAS — Continental Realty Group, a Denver-based multifamily owner-operator, has acquired Wildcreek Apartments, a 232-unit multifamily complex in southeast Austin. Built in 1984, Wildcreek features one- and two-bedroom units and amenities such as a clubhouse and leasing center, two pools, a dog park and a basketball court. The new ownership plans to upgrade unit interiors, building exteriors and common areas. Ryan McBride, Robert Wooten and Robert Arzola of JLL represented the seller in the transaction.
HICKORY, N.C. — Ashburn, Va.-based LaRock Capital Partners has acquired 29 North Apartments, a 101-unit community located in Hickory, about 58 miles north of Charlotte. Delivered in 2013, the complex offers one-, two- and three-bedroom floorplans, ranging in size from 715 to 1,308 square feet, according to Apartments.com. Amenities include a resort-style swimming pool, fitness center, clubhouse with coworking spaces and a pet park. LaRock Capital has selected Greensboro, N.C.-based Burkely Communities to serve as the new property manager at 29 North. William Lawson of BWE originated acquisition financing on behalf of LaRock Capital. The seller and sales price were not disclosed.
NASHVILLE, TENN. — Bradford Allen has acquired TownePlace Suites Nashville Midtown, a 193-room hotel located near Vanderbilt University in Nashville’s Midtown neighborhood. Opened in 2021, the 10-story hotel features a fitness center, onsite parking, meeting space and a rooftop lounge with grilling stations. The hotel’s studio guest suites also offer full kitchens and oversized living, work and sleep areas. Additionally, a convenience store and the hotel’s 60-seat restaurant and bar are located adjacent to the fifth-floor sky lobby. The first floor also includes two retail spaces, which are leased to Subway and Takumi, a Japanese restaurant scheduled to open in first-quarter 2026. Ron Danko and James Maher of CBRE represented the seller, 3H Group, in the transaction. The sales price was not disclosed.
PANAMA CITY BEACH, FLA. — The St. Joe Co. will develop a new Publix grocery store at Watersound West Bay Center, a lifestyle shopping center under construction in Panama City Beach. The new Publix is expected to comprise 50,000 square feet and will feature a pharmacy, deli and bakery, as well as an adjacent Publix Liquors store. Plans will also include an additional 11,000 square feet of inline retail space. Upon completion, Watersound West Bay Center will serve the neighboring Latitude Margaritaville Watersound community, which will have a total of 3,500 homes in Phase I. The shopping center will total 500,000 square feet of retail, dining and commercial space in an open-air layout. St. Joe Co. is nearing completion on an 18,000-square-foot, standalone retail building within Watersound West Bay Center that will have spaces available for lease in early 2026.
CARROLLTON, GA. AND UNION, S.C. — SRS Real Estate Partners has negotiated the sales of two single-tenant retail properties in Georgia and South Carolina totaling $7.6 million. The properties include a property in Carrollton leased to Parachute Plasma and a drive-thru restaurant in Union occupied by Arby’s. Britt Raymond and Kyle Fant of SRS represented the 1031 exchange buyer, a New York City-based private investor, in the transaction. The seller was not disclosed. The first property, Parachute Plasma, sold for $5.5 million and totals 7,613 square feet of retail and medical office space. Built in 2024, Parachute Plasma operates on a new 20-year triple-net lease. The second property, a 2,364-square-foot Arby’s restaurant, was built in 2021 and was sold for roughly $2.1 million. Arby’s has approximately 16 years remaining on its absolute triple-net lease.
PEARLAND, TEXAS — Partners Development, the development platform of Partners Real Estate, has sold a 21,400-square-foot retail strip center in Pearland, a southern suburb of Houston. Known as Phase II of Broadway Plaza, the two-building center was fully leased at the time of sale. Pet Suppliers Plus is the anchor tenant. Marc Peeler, Joan Collum and Cobo Fajardo of Partners Real Estate internally represented the seller in the transaction. The buyer and sales price were not disclosed.
NEW YORK CITY — A partnership between two hospitality owner-operators, Gencom and Highgate, as well as New York City-based investment firm Argent Ventures, has acquired the 607-room InterContinental New York Times Square hotel in Midtown Manhattan. According to Hospitality Investor and The New York Business Journal, the sales price was $230 million. The 34-story hotel offers approximately 20,000 square feet of meeting and event space, multiple onsite food-and-beverage options and a 24-hour fitness center. The new ownership plans to renovate guestrooms, public spaces and dining venues. Eastdil Secured represented the seller, a joint venture between Tishman Realty and MetLife Investment Management, in the transaction and arranged acquisition financing for the deal through Monroe Capital.
DENVER — Investment funds managed by Morgan Stanley Real Estate Investing (MSREI) have acquired a seniors housing portfolio for $305 million. Kayne Anderson was the seller. Totaling 463 units, the portfolio features three communities located near Denver. “We are pleased to acquire this high-quality portfolio of seniors housing communities, which has demonstrated strong historical performance,” says Will Milam, head of U.S. investments at MSREI. “As people age, their real estate needs evolve, and as the first baby boomers are turning 80 this year, demand for seniors housing is rising rapidly. We expect this sector to grow nearly 5 percent annually over the next five years as this population cohort expands.” MorningStar will continue to operate the communities on behalf of the new ownership. Funds managed by MSREI currently have an ownership interest in approximately 30 senior living communities comprising 3,000 units across the United States.