DOVER, N.J. — CBRE has brokered the $6.8 million sale of a 6.5-acre industrial development site in the Northern New Jersey community of Dover. The parcel is part of the newly opened, 80,000-square-foot headquarters facility of tube and pipe distributor Dover Tubular Alloys at 220 W. Clinton St. Thomas Mallaney and Denise Kokulak of CBRE represented Dover Tubular Alloys in the transaction. Resource Realty represented the buyer, an entity doing business as SL Acquisitions LLC.
TRUMBULL, CONN. — Locally based brokerage firm Vidal/Wettenstein has negotiated the $6.4 million sale of a 57,000-square-foot industrial building in the southern coastal Connecticut city of Trumbull. The building at 205 Spring Hill Road and formerly housed the operations of the Trumbull Printing Co. Bruce Wettenstein of Vidal/Wettenstein represented the seller, Brooklyn-based BACO Enterprises, in the transaction. Wes Craft and Tyler Lyman of True Commercial represented the undisclosed seller.
WEST PALM BEACH, FLA. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $90.5 million sale of Pointe Verde Beach Lakes, a 400-unit condominium property located in West Palm Beach. Marcus & Millichap confirmed that the buyer, New Jersey-based apartment operator Kamson Corp., will convert the condos to market-rate apartments. Luke Wickham and Evan Kristol of Marcus & Millichap, along with Shelton Granade and Justin Basquill of IPA, represented Kamson in the transaction. The Ponte Verde at Palm Beach Lakes Condominium Association retained an affiliate of the Condominium Advisory Group LLC, led by John Cadden and Michael Fish, to serve as trustee on behalf of the selling entity. Situated adjacent to Bear Lakes Country Club, Point Verde at Palm Beach Lakes includes 24 two- and three-story residential buildings, along with a clubhouse. Amenities include two swimming pools, two racquetball courts and a dry sauna. The average unit size is 901 square feet.
WASHINGTON, D.C. — PRP Real Assets has acquired 900 19th Street NW, a 116,385-square-foot office tower located in Washington D.C’s Central Business District, roughly three blocks west of the White House. According to the Washington Business Journal, the property sold for $30 million. The previous owner, Tishman Speyer, completed a base-building and aesthetic redevelopment of the property, which featured a full-height glass curtain wall replacement, lobby reconstruction, elevator modernization and the addition of a fitness center, tenant lounge, conference facility and rooftop terrace. Approximately 50,000 square feet is available for lease, according to PRP.
HANAHAN, S.C. — New York City-based Obelisk Real Estate Partners has acquired a two-building industrial park spanning 516,000 square feet (5801 N. Rhett Ave.) and an adjacent 305,250-square-foot industrial building (1020 N. Pointe Industrial Blvd.) in Hanahan, approximately eight miles outside North Charleston. Oak Brook, Ill.-based CenterPoint Properties sold both properties to Obelisk for an undisclosed price. Obelisk has retained Brendan Redeyoff and Bob Barrineau of CBRE to lead leasing efforts at 5801 North Rhett on behalf of Obelisk. Approximately 318,926 square feet of space is available for lease at 5801 North Rhett, which can accommodate manufacturing, logistics and distribution users. The property also offers CSX rail service and up to 3.3 acres of laydown yard space. The facility is also situated near the Naval Information Warfare Center (NIWC) and Charleston International Airport, where Boeing is expanding its production facility.
BALTIMORE — A New York-based development firm doing business as SC Baltimore Hotel LLC has completed the first phase of the renovation of the Baltimore Marriott Inner Harbor at Camden Yards, a 523-room hotel located at 110 S. Eutaw St. in downtown Baltimore. HEI Hotels & Resorts operates the hotel, which is situated near Oriole Park at Camden Yards, the home ballpark of the Baltimore Orioles. Phase I is part of a two-part, $30 million property-wide renovation. The second phase, which will include upgrading the lobby, restaurant and meeting spaces, is expected to commence in the first quarter of 2027. Phase I focused on modernizing the hotel’s guestrooms, suites and concierge lounge. New in-room amenities include a smart TV with casting and streaming options, a mini-refrigerator, coffee maker and Wi-Fi. The executive lounge, located on the 10th floor, has been refreshed to provide an elevated experience for the hotel’s Marriott Bonvoy Platinum Elite, Titanium Elite and Ambassador Elite members, which features modern enhancements, new seating and a refined atmosphere. Guests can also enjoy complimentary all-day beverages, free daily breakfast and evening hors d’oeuvres. Additional hotel amenities include 24-7 fitness and business centers, more than 18,400 square feet of event space and The …
SUMNER, WASH. — Mesa West Capital has provided Timberlane Partners with a $52 million short-term, first-mortgage loan to refinance Sumner Mill Apartments in Sumner, approximately 30 miles south of Seattle. Joshua Westerberg led the Mesa West Capital team that originated the loan. Jake Roberts of BWE’s Los Angeles office arranged the financing. Delivered in 2024 by the sponsor, Sumner Mill Apartments features 162 garden-style studio, one- and two-bedroom apartments spread across 3.8 acres at 5816 162nd Ave. E. Community amenities include an outdoor pool, fitness center, resident clubhouse with full kitchen, conference room, package room, dog park, picnic area, EV-enabled parking spaces and rooftop solar panels.
PHOENIX — Marcus & Millichap has brokered the sale of a 984-unit Extra Space Storage facility in Phoenix. Located at 6316 N. 7th St., the gated-access property features fully climate-controlled units, drive-in loading areas, multiple elevators, onsite management office, 24/7 video surveillance and an interior concrete drive aisle with roll-up doors. The property was built in 2021. Adam Schlosser, Jordan Farrer and Charles “Chico” LeClaire of the LeClaire-Schlosser Group of Marcus & Millichap, in association with Ryan Sarbinoff, Marcus & Millichap’s Arizona broker of record, represented the seller in the transaction.
LAS VEGAS — Multifamily investment firm CONAM, through a discretionary fund, has acquired the 232-unit Alicante Apartments Homes in Las Vegas’ Spring Valley submarket. Terms of the transaction were not released. Built in 2001 on 11.2 acres, Alicante features one-, two- and three-bedroom apartments across two-story, garden-style buildings. All units feature luxury vinyl plank flooring, quartz countertops, stainless steel appliances and full-size in-unit washers and dryers. Community amenities include a pool, spa, fitness center with yoga and spin studios, clubhouse, billiards room, dog park, playground, package lockers and gated access.
SAN BERNARDINO, CALIF. — Commercial mortgage banking firm PSRS has arranged a $11.2 million loan for the refinancing of a nine-story office building in San Bernardino. At the time of financing, the 126,000-square-foot property was 89 percent leased to tenants such as the Internal Revenue Service (IRS) and the City of San Bernardino. Jacob Lee and Nathan Toomey of PSRS arranged the loan, which was structured with a five-year term, a 25-year amortization schedule and a dedicated reserve for capital expenditures. The direct lender and borrower were not disclosed.