Tuesday, August 5, 2025
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Millbrook Apartments
AcquisitionsMultifamilyNorth CarolinaSoutheast

IMG Sells Two Multifamily Communities in Raleigh for $29.8M

by Julia Sanders

RALEIGH, N.C. — Investors Management Group Inc. (IMG) has sold a two-property multifamily portfolio in Raleigh to Abacus Capital Group for $29.8 million. The communities include Millbrook Apartment Homes and Lynn Lake Apartment Homes. Millbrook Apartment Homes is a 117-unit community located at 2121 Paces Forest Court, and Lynn Lake Apartment Homes is a 101-unit community located at 6500 Paces Arbor Circle. IMG acquired the two apartments in 2018 for $23.2 million. More than $2 million was invested to upgrade the properties, including upgrades to the clubhouses and improving the outdoor spaces with new dog parks, playgrounds, a hammock park and pool area upgrades. Unit interiors were modernized with energy-efficient lighting, low-flow plumbing fixtures, new paint, flooring, cabinets and cabinet hardware. IMG and its investors will reallocate proceeds from the sale into several multifamily communities as part of its multifamily investment plan. The firm currently owns three multifamily communities in Raleigh encompassing 576 units.

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IndustrialLeasing ActivityTexas

JAMCO Group Signs 500,000 SF Industrial Lease in Laredo, Texas

by Taylor Williams

LAREDO, TEXAS — The JAMCO Group, a locally based provider of customs and logistics services, has signed a 500,000-square-foot industrial lease in the South Texas city of Laredo. Beginning on June 1, The JAMCO Group will occupy the entirety of a building owned by California-based Majestic Real Estate that was originally developed as a build-to-suit for Mattel. Carlo Molano of Forum CRE represented the tenant in the negotiations for the lease, which is the largest industrial deal of its kind in Laredo in 20 years.

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Extended-Stay-America-Oklahoma
DevelopmentHospitalityTexas

Extended Stay America Opens Three Hotels Totaling 291 Rooms in Oklahoma

by Taylor Williams

BARTLESVILLE, MCALESTER AND LAWTON, OKLA. — Extended Stay America (NASDAQ: STAY) has opened three hotels totaling 291 rooms in Oklahoma. Dallas-based Provident Realty Advisors owns the properties, and Plano-based Aimbridge Hospitality manages them. The properties are located in the northern city of Bartlesville, the central city of McAlester and the southwestern city of Lawton. All hotels feature fitness centers and onsite laundry facilities.

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Dynamic-Glass-Houston
AcquisitionsIndustrialTexas

Colliers Negotiates 160,778 SF Industrial Sale-Leaseback in Northwest Houston

by Taylor Williams

HOUSTON — Colliers International has negotiated a sale-leaseback at Dynamic Glass Industrial Park in Houston. The 160,778-square-foot, four-building development is situated on nine acres on the city’s northwestern side. David Carter and John Nicholson of Colliers represented the seller and tenant, locally based custom fabricator Dynamic Glass, in the transaction. California-based TCI Properties represented the buyer, Gordon Creekside, which negotiated a 15-year lease with Dynamic Glass at closing.

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IndustrialLeasing ActivityTexas

Arizona Partsmaster Signs 68,342 SF Industrial Lease in Metro Houston

by Taylor Williams

MISSOURI CITY, TEXAS — Arizona Partsmaster, a provider of property maintenance and repair supplies, has signed a 68,342-square-foot industrial lease at Waypoint Business Park in Missouri City, a southwestern suburb of Houston. Payson MacWilliam, Jon Lindenberger and Paul Dominique of Colliers International represented the tenant in the lease negotiations. Justin Robinson, Matteson Hamilton and Woody Hillyer of Stream Realty Partners represented the landlord, a partnership between 4M Investments and Clarion Partners. Waypoint Business Park encompasses 708,944 square feet of industrial space across four buildings.  

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AcquisitionsRetailTexas

Silver Group Arranges Sale of 45,000 SF El Paso Retail Building Leased to Best Buy

by Taylor Williams

EL PASO, TEXAS —The Silver Group, a single-tenant brokerage firm based on the West Coast, has arranged the sale of a 45,000-square-foot retail building in El Paso that is net leased to Best Buy. The property was originally built on 4.6 acres in 2002 and is located within Sunland Plaza, a retail power center that also houses tenants such as Target, Dick’s Sporting Goods, Marshall’s, Office Depot and Ulta Beauty. The buyer and seller were not disclosed.

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LoansMidwestMinnesotaMultifamily

Colliers Mortgage Provides $18.2M Acquisition Loan for Apartment Complex in Suburban Minneapolis

by Kristin Harlow

MAPLE GROVE, MINN. — Colliers Mortgage has provided an $18.2 million Fannie Mae loan for the acquisition of Crossroads at Elm Creek in Maple Grove. The 98-unit apartment complex rises three stories. Amenities include a fire pit, children’s play area, outdoor seating, a fitness center, coffee bar, community room and storage lockers. Peak Capital Partners LLC was the borrower. The 10-year loan features a 30-year amortization schedule.

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AcquisitionsIndustrialMidwestWisconsin

Coldwell Banker Commercial Arranges $4M Sale of Industrial Building in Delavan, Wisconsin

by Kristin Harlow

DELAVAN, WIS. — Coldwell Banker Commercial has arranged the $4 million sale of a 100,000-square-foot industrial building in Delavan, about 45 miles southwest of Milwaukee. Built in 2019, the property sits on 17.4 acres at 2153 Hobbs Drive. The building features a clear height of 30 feet, eight docks and one drive-in door. Bill Mears and Adam Schultz of Coldwell Banker Commercial McGuire Mears & Associates represented both the buyer and seller in the transaction. The buyer, Prop Shaft Supply, a division of Machine Service Inc., plans to move its 85 employees to the property.

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AcquisitionsIllinoisIndustrialMidwest

Dayton Street Partners Acquires 7.8-Acre Industrial Site in Chicago

by Kristin Harlow

CHICAGO — Dayton Street Partners has acquired a 7.8-acre industrial site in Chicago for an undisclosed price. The site, which includes several buildings totaling 66,154 square feet, is located at 2217 S. Loomis St. Southfield Corp. was the seller. Dayton Street says it expects to garner interest from tenants that require direct access to the city’s neighborhoods as well as users that require significant trailer or fleet parking and outdoor storage. David Lane of Burr and Temkin, along with Ed Wabick, Terry Lynch and Mark Hale of Paine Wetzel, will lead the marketing and leasing efforts.

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AcquisitionsMidwestNorth DakotaRetail

SRS Brokers $2.3M Sale of OfficeMax-Occupied Property in North Dakota

by Kristin Harlow

GRAND FORKS, N.D. — SRS Real Estate Partners’ National Net Lease Group has brokered the $2.3 million sale of a single-tenant retail property occupied by OfficeMax in Grand Forks. The 23,500-square-foot building is located at 3225 30th Ave. Built in 1998, the property sits on 2.5 acres near the University of North Dakota and Columbia Mall. Joseph Simon of SRS represented the seller, a Madison, Wis.-based private investor. Simon also represented the buyer, an Oregon-based private investor completing a 1031 exchange.

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