BRISTOL, WIS. — Peak Construction Corp. is underway on a 1 million-square-foot speculative industrial building at Bristol Business Park in Bristol, about 40 miles south of Milwaukee. NorthPoint Development is the developer. Completion is slated for this November. The building will feature a clear height of 40 feet, 105 dock doors and four drive-in doors. The project team includes studioNorth Architecture and Manhard Consulting Ltd.
CHATTANOOGA, TENN. — SRS Real Estate Partners has brokered the sale of East Ridge Crossing, a 58,950-square-foot, Food Lion-anchored shopping center in Chattanooga. Hancock White Columns Inc. purchased the property for an undisclosed price. Kyle Stonis and Pierce Mayson of SRS represented the undisclosed seller in the transaction. Tyler Matthews of Austin Sumner Properties represented Hancock White Columns. Built in 1988 and renovated in 2021, East Ridge Crossing was 91 percent leased at the time of sale to national retailers, including e-commerce-resistant service providers. The property is situated about seven miles southeast of downtown Chattanooga and just west of Interstate 75.
SAN ANTONIO — Kansas City-based VanTrust Real Estate will develop Cornerstone Commerce Park, a 60-acre speculative industrial project in northeast San Antonio. Phase I of the project, construction of which is slated to begin in July and to last about 12 months, will consist of two buildings totaling 413,173 square feet. VanTrust has also acquired land for the second phase, which could comprise up to four additional buildings totaling over 600,000 square feet. CBRE has been tapped to lease the development.
ENGLEWOOD, COLO. — Drawbridge Realty has purchased one of the Arrow Buildings at Dry Creek Station in Englewood for $106 million. The acquisition is Drawbridge’s first since completing a $1.7 billion recapitalization of its national portfolio in February with institutional investors KKR and General Atlantic. Arrow Electronics (NYSE: ARW) fully occupies the 223,177-square-foot, Class A headquarters building, located at 9151 E. Panorama, on a long-term basis. Constructed in 2017, the property enabled Arrow to consolidate its more than 1,600 local employees spread across nine buildings into one campus-style location. The seven-story building offers parking for more than 1,300 cars and is adjacent to Interstate 25 and near the Dry Creek light rail station. The acquired building is adjacent to Arrow’s other worldwide headquarters building. Terms of the transaction were not released.
DORAL, FLA. — Marcus & Millichap has arranged the sale of Doral Park Centre, a 13,925-square-foot retail strip center in Doral. The property sold for $11 million, or $789.72 per square foot. Edward Romo and Scott Sandelin of Marcus & Millichap represented the seller, an affiliate of IRAS Group, a Miami-based real estate investment firm. Kristina Filippone of First City Realty Partners Inc. procured the undisclosed buyer. Built in 2017, Doral Park Centre is a seven-suite property that was fully leased at the time of sale to tenants including 5.11 Tactical Miami, PANNA New Latino Food, Ohana Sushi, 107 Beauty Bar & Spa and CKO Kickboxing. Located at 3887 NW 107th Ave., the property is situated 10 miles from Miami International Airport.
COLORADO SPRINGS, COLO. — Cushman & Wakefield has arranged the sale of Interquest I-IV, a four-building flex, office and healthcare portfolio located at 9925, 9945, 9950 and 9960 Federal Drive in Colorado Springs. An undisclosed seller sold the asset to a Denver-based private partnership for an undisclosed price. Aaron Johnson and Jon Hendrickson of Cushman & Wakefield represented the seller. Constructed in phases in 2001 and 2008/2009, the buildings offer a total of 241,232 square feet of flex, office and healthcare space. At the time of sale, the portfolio was 76 percent leased to a healthcare and technology tenants. Interquest I (9945 Federal Drive) and Interquest II (9925 Federal Drive) have LEED Silver certification.
SEATTLE — Kidder Mathews has brokered the sale of a portfolio of apartment properties located in the Junction neighborhood of West Seattle. The communities sold for a combined price of $58.3 million. The names of the seller and buyer were not released. The portfolio includes an 80-unit building that opened in 2016 and a 62-unit building that opened in 2020. The properties are located at Junction Flats at 4433 42nd Ave. SW and Junction Landing at 4417 42nd Ave. SW. Jerrid Anderson, Brandon Lawler and Dylan Simon of the Simon and Anderson Team at Kidder Mathews’ Seattle headquarters represented the seller and directly sourced the buyer in the transaction.
DALLAS — Comunidad Partners, an investment firm that specializes in affordable and workforce housing, has acquired Villas del Zocalo, a 437-unit affordable housing community in East Dallas. Taylor Snoddy of Northmarq brokered the deal. The seller and sales price were not disclosed. The new ownership plans to invest in capital improvements to preserve the property’s affordability status. Specific information on income restrictions was not disclosed.
TULSA AND CUSHING, OKLA. — Plains Commercial has arranged the sale of three skilled nursing facilities totaling 243 beds in Tulsa and Cushing, Oklahoma. Two of the buildings were built in the 1960s and 1970s and had undergone extensive renovations in recent years. The third was built in 1997. The seller was a locally based seniors housing operator, and the buyer is one of the largest skilled nursing operators in the state. Both parties requested anonymity. Daniel Morris of Plains Commercial handled the transaction.
GRESHAM, ORE. — Trion Properties has completed the disposition of Edison Apartments, a multifamily community located at 1833 6th St. in Gresham, the largest suburb of Portland. An undisclosed buyer acquired the property for $19.5 million. Completed in 2020, Edison Apartments features 64 units with in-unit washers/dryers, stainless steel appliances, granite countertops, air conditioning, modern wooden blinds, large windows and storage units. Community amenities include onsite parking, a communal picnic area, children’s playground, landscaped grounds and video surveillance. Jordan Carter, Tyler Linn and Clay Newton of Kidder Mathews represented the seller in the transaction.
