DALLAS — A partnership between two locally based firms, Leone Real Estate Partners and Lampasas Partners, has purchased a 24,942-square-foot warehouse in the Valwood area of North Dallas. The property features 14- to 24-foot clear heights, two dock-high loading doors, two grade-level loading doors, 4,100 square feet of office space and one acre of fenced outdoor storage space. The seller and sales price were not disclosed.
PHOENIX AND TEMPE, ARIZ. — BKM Capital Partners has acquired a portfolio of eight light industrial buildings in Phoenix and Tempe from an affiliate of Equus Capital Partners Ltd. for $167.8 million. The portfolio features 889,352 square feet spread across 46 buildings. Rusty Kennedy, Joe Cesta and Darla Longo of CBRE represented the seller in the deal. The portfolio includes: The properties offer a range of unit sizes, providing leasing flexibility.
SOUTH SALT LAKE, UTAH — Northmarq has arranged a $38 million loan on behalf of SSLC Multifamily-Parking LLC for the refinancing of Bowers Residences, an apartment community located at 55 W. Utopia Ave. in South Salt Lake. John Bradshaw, Nate Barnson, Bracken Ostler and Adam Bradshaw of Northmarq arranged the permanent fixed-rate financing on behalf of the borrower through a relationship with New York Life. Built in 2023, Bowers Residences offers 236 studio, one-, two- and three-bedroom layouts, a fitness center with a bouldering wall and a yoga/spin studio, a spa, private rooftop lounge and courtyard with games and grills, and a coworking space with a rentable clubroom and kitchen.
HOUSTON — Three new tenants have debuted at East River, a 150-acre mixed-use development in Houston by Midway. Ayna Jewels and Tomi Jewelry have opened boutique stores that span 1,600 square feet and 880 square feet, respectively. In addition, the Houston Maritime Center & Museum, which feature exhibits, artifacts and interactive displays within a redeveloped space overlooking the Buffalo Bayou Park, is now open.
PINOLE, CALIF. — Step Up Housing has purchased Bayside Apartment Homes at 530 Sunnyview Drive in Pinole. Sack Capital Partners and Align Finance Partners arranged structured financing for the acquisition. Additionally, Sack will provide asset and property management for the 148-unit affordable housing community. Originally built in 1974 and renovated in 2017, Bayside features two- and three-bedroom apartments near the shoreline of San Pablo Bay at Point Pinole Regional Shoreline. Institutional Property Advisors, a division of Marcus & Millichap, represented the undisclosed seller in the transaction.
AVONDALE, ARIZ. — Trilogy Investment Co. has opened Rêv3 at Encanto West, a townhome build-to-rent community in Avondale. Developed with Cimbra Partners, Rêv3 at Encanto West offers 84 three-bedroom/two-and-a-half bathroom townhomes with open-concept layouts, chef-inspired kitchens with stainless steel appliances and granite countertops, luxury vinyl plank flooring, smart home technology, attached garages and private backyards. Community amenities include a resort-style pool with cabanas, a clubhouse with gathering spaces, a fitness center and outdoor grilling areas. The community is now leasing, with first residents expected this fall.
DENVER — Kaufman Hagan has arranged the sale of 3478 W. 32nd Avenue, a 3,043-square-foot, owner-user retail building in Denver’s Highlands Square. The asset traded for $1.8 million, or $591.52 per square foot. The names of the seller and buyer were not released. Zachary Bierman of Kaufman Hagan represented the seller in the deal.
CHICAGO — Waterton has acquired The Mason, a 263-unit, 14-story apartment building located at 180 N. Ada St. in Chicago’s Fulton Market district. The purchase price was nearly $90 million, according to CoStar. Units come in studio, one-, two- and three-bedroom layouts. Waterton plans to implement a light value-add program, including in-unit flooring upgrades and enhancements to common areas and amenity spaces. The Mason’s amenities include a rooftop deck, pool deck, fitness center, remote work space, a dog wash and dog run.
JOLIET, ILL. — Mapletree Investments has acquired a 29.4-acre site at 1035 W. Laraway Road in Joliet with plans to develop a logistics facility totaling 418,880 square feet. The transaction marks the company’s second acquisition in Joliet this year, following the May purchase of an 18.1-acre site at 3600 Houbolt Road where it will build a 276,000-square-foot warehouse. Both sites provide direct connectivity to the Joliet Intermodal Center — North America’s largest inland port — home to both the Union Pacific and BNSF Joliet Intermodal Terminals. The Laraway Road project will feature a clear height of 40 feet, 80 dock doors, 100 trailer stalls and 172 car parking spaces. Matthew Stauber and Steve Ostrowski of Colliers represented the seller and worked directly with Mapletree to secure the transaction. Mapletree currently owns and manages more than 10 million square feet of industrial assets in the Chicago market.
MINNEAPOLIS — Accesso has secured a one-year extension on the loan associated with the IDS Center, a 57-story office tower in Minneapolis. Ownership has also secured 110,000 square feet in new leases signed since the beginning of the year. Some of the recent activity includes a 25,513-square-foot, full-floor lease for Associated Bank NA, a 23,796-square-foot renewal for Husch Blackwell LLP, a 15,179-square-foot renewal for Zimmerman Reed LLP and a 13,515-square-foot renewal and expansion for architecture and design firm Perkins&Will. Spanning 1.4 million square feet, IDS Center features a public plaza and retail storefronts in addition to office space.