MESA, ARIZ. — SVN Desert Commercial Advisors has brokered the sale of a shopping center, located at 810-848 S. Alma School Road in Mesa. Alex Holding LLC and Sunnyslope LLC acquired the asset for $6.9 million. At the time of sale, the 74,604-square-foot property was fully occupied. Rommie Mojahed and Beau Flahart of SVN Desert Commercial Advisors represented the undisclosed seller in the transaction.
SAN ANTONIO — Raleigh, N.C.-based The Preiss Co., in a joint venture with a fund advised by Crow Holdings Capital, has acquired Luxx, a 694-bed student housing community in San Antonio. The property serves the University of Texas at San Antonio and features a pool with a swim-up bar, outdoor cabanas, grilling areas, a cyber lounge and a two-story fitness center. Preiss will undertake a multimillion-dollar capital improvement plan to certain amenity spaces, including the clubhouse and the dog park. The seller was not disclosed.
DENVER — Concord HQ LLC has purchased an office property in Denver from Unico BOP 1406 Wazee LLC/Unico BOP 1408 Wazee for $4.5 million. Located at 1408 Wazee in Denver, the asset features 9,009 square feet of office space. Andrew Blaustein and Josh Pons of Newmark Knight Frank represented the buyer, while JLL represented the seller in the deal. First American Title Insurance Co. also participated in the transaction.
SAN DIEGO — CBRE has arranged the sale of a creative office building, located at 2870 Fifth Ave. in San Diego’s Bankers Hill neighborhood. A private 1031-exchange buyer acquired the approximately 7,300-square-foot property for $3 million, or $411 per square foot. Matt Pourcho, Anthony DeLorenzo, Gary Stache, Doug Mack and Marc Frederick of CBRE represented the seller, HG Fenton Co., in the deal. Originally constructed as a fire station in 1900, the two-story building was recently repositioned and renovated into a modern creative office building. At the time of sale, the property was 100 percent leased. Tenants include Fox & Jane salon, Sojourn Healing Collective, KD Skin beauty salon and Explore That Store digital marketing agency.
AMARILLO AND GRAPEVINE, TEXAS — National investment firm Industrial Realty Group LLC (IRG) has purchased two facilities totaling 603,800 square feet in the West Texas city of Amarillo and the northern Fort Worth suburb of Grapevine. The Amarillo property is a light industrial facility spanning 412,000 square feet on 54.9 acres, and the Grapevine asset is a manufacturing plant totaling 191,800 square feet on 10.8 acres. The sellers were not disclosed. IRG’s portfolio now spans approximately 100 million square feet across 28 states.
WICHITA FALLS, TEXAS — Dallas-based Vanguard Real Estate Advisors has brokered the sale of Arbor Creek Apartments, a 360-unit multifamily property in Wichita Falls, about 140 miles northwest of Dallas. The Class B community, which was 94 percent occupied at the time of sale, was built in phases in 1977 and 1980. Floorplans feature one-, two- and three-bedroom units and amenities include a pool and a fitness center. Jordan Cortez of Vanguard marketed the property on behalf of the seller, Maven Management, and procured the undisclosed buyer.
HOUSTON — HFF has negotiated the sale of Vanderbilt Court, a 164-unit multifamily community in southwest Houston. Built in 1983, the property offers one- and two-bedroom units averaging 835 square feet. Amenities include two pools, a fitness center, clubhouse, business center and outdoor dining space. Joey Rippel and Chris Young of HFF represented the seller, Virginia-based 37th Parallel Properties, and procured the buyer, Indus Management Group.
MISSOURI CITY, TEXAS — NAI Partners has secured a 15,000-square-foot industrial lease for Gupta Management Co. at 1535 Industrial Drive in Missouri City, a southwestern suburb of Houston. The property is located within a four-building industrial park that is currently under construction. Jake Wilkinson and Darren O’Conor of NAI Partners represented the landlord in the transaction.
RAHWAY, N.J. — Marcus & Millichap has brokered the $2.4 million sale of Heritage House, a 21-unit multifamily building in Rahway. Located at 1909 Church St., the property is approximately one mile from the Rahway Train Station and two miles from the Linden Train Station as well as 22 miles southeast of New York City. Fahri Ozturk, Richard Gatto and Thomas Cleary of Marcus & Millichap’s New Jersey office represented the buyer and seller in the transaction, both private investors.
SUSSEX, N.J. — Redwood Realty Advisors has negotiated the $9.5 million sale of Wilson Manor, a 68-unit apartment community in Sussex. Located at 1 Wilson Road, the seven-building property was built in the 1960s. Each building at the nearly 7-acre community is two-stories. Kevin McCrann and Jeremy Wernick of Redwood Realty represented the seller, a long-term owner, in the transaction. The buyer was undisclosed.
