MIDDLEBOROUGH, MASS. — Marcus & Millichap has brokered the sale of Everett Street Storage, a 181-unit self-storage facility in Middleborough, located south of Boston in Plymouth County. Built on 2.5 acres in 2017, the property includes 21 climate-controlled units, 140 non-climate-controlled units, two offices and 18 parking spaces across 18,710 net rentable square feet of space. Nathan Coe, Gabriel Coe and Brett Hatcher of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
SPRINGDALE, ARK. — Spartan Investment Group has acquired three self-storage facilities totaling 1,890 units in Northwest Arkansas for an undisclosed price. The purchases include a 39,450-square-foot facility in Bentonville, a 158,630-square-foot facility in Rogers and a 125,70-square-foot facility in Springdale. Spartan plans to invest more than $1 million in renovations to the portfolio, including improvements to security, signage and operational systems.
MONTGOMERY, N.Y. — New York-based developer Ridgecut Road has broken ground on a 146,075-square-foot industrial speculative project in Montgomery, located about 70 miles northwest of Manhattan. The site spans 13.6 acres, and the facility will be branded I-84 Orange County Logistics Center. Building features will include a clear height of 36 feet, 31 dock doors and parking for 16 trailers and 83 cars. Pratt Design Studio and Premier Design + Build Group are serving as the architect and general contractor, respectively, and JLL is the leasing agent. John Alascio, T.J. Sullivan, Chuck Kohaut and Mitch Rothstein of Cushman & Wakefield arranged $20 million in construction financing for the project through Catal Capital. Completion is slated for the fourth quarter.
MORRISVILLE, N.C. — A joint venture between Crescent Communities and GID has opened Novel Morrisville, a 336-unit multifamily community located at 218 Southport Drive in Morrisville. Situated about 14 miles west of Raleigh, the property is a walkable master-planned community that houses the Wake Competition Center, a practice hockey complex for the NHL’s Carolina Hurricanes. Novel Morrisville features a mix of studio, one-, two- and three-bedroom floorplans, as well as 10 carriage-style townhomes. Unit sizes range from 532 square feet to 2,128 square feet. Monthly rental rates at the complex begin at $1,415, according to Apartments.com. Amenities include a saltwater swimming pool with cabanas, two-story fitness center, community library, clubroom, full-scale indoor rock-climbing wall, walking and biking trails and an onsite Land of a Thousand Hills coffee shop. Crescent Communities Construction was the general contractor. The project architect and interior designer was Hord Coplan Macht, and the civil engineer and landscape architect was Kimley-Horn. U.S. Bank was the project lender.
COLUMBIA, S.C. — CBRE has arranged the $13.8 million sale of 20/21 Business Center, a 98,386-square-foot flex property located in Columbia. Red Bank, N.J.-based Denholtz was the buyer. Matt Smith, Patrick Gildea, Robert Hardaway, Aaron Dupree and Marie Diekmann of CBRE represented the seller, CB Equities, in the transaction. Situated on 17.6 acres, the property — which was 98 percent leased at the time of sale — comprises three buildings and three vacant land parcels. Additional features of the center include interstate visibility and expansion opportunities, as well as 17 dock doors and 10 drive-in doors. CBRE originally arranged CB Equities’ acquisition of the property in May 2022 for $10.5 million.
ENGLISHTOWN, N.J. — Regional brokerage firm Hudson Atlantic Realty has negotiated the $4.2 million sale of an 18-unit apartment building in Englishtown, an eastern suburb of Trenton. According to LoopNet Inc., Englishtown Village Gardens was originally built in 1945 and was fully occupied at the time of sale. Dante Fusaro of Hudson Atlantic brokered the deal. The buyer and seller were not disclosed.
WYNNEWOOD, PA. — Club Studio Fitness has signed a 50,000-square-foot retail lease in Wynnewood, a northwestern suburb of Philadelphia. The space within Wynnewood Shopping Center formerly housed a Bed Bath & Beyond store, and the new facility will feature a juice bar, cryotherapy recovery services and personal stretch stations. The opening is slated for next spring. Federal Realty Investment Trust owns Wynnewood Shopping Center.
TEMPE, ARIZ. — Greenlight Communities, in partnership with Holualoa Cos., will break ground on Cabana Kyrene, a 229-unit attainable rental housing property in Tempe, on March 20. Located at 515 W. Guadalupe Road, Cabana Kyrene will offer 90 studio apartments, 93 one-bedroom units and 46 two-bedroom units.
ALBUQUERQUE, N.M. — Faris Lee Investments has brokered the sale of Pavilions San Mateo, a retail center in Albuquerque. The asset traded for $24.8 million. Current tenants include Walmart Neighborhood Market, Old Navy, Dollar Tree and Orange Theory Fitness. Don MacLellan, Jeff Conover and Scott DeYoung of Faris Lee represented the undisclosed buyer. The name of the seller was not released.
TUCSON, ARIZ. — UHS of Tucson LLC has purchased Palo Verde Behavioral Health, a behavioral health hospital and medical office building in Tucson. TMC sold the asset for $19.1 million. Located at 2695 N. Craycroft Road, the property offers 76,770 square feet of space. Richard Kleiner of Cushman & Wakefield | PICOR represented the seller in the deal.