YUMA, ARIZ. — Disney Investment Group (DIG) has arranged the sale of a portion of Yuma Palms Regional Center, a more than 1 million-square-foot power and lifestyle shopping development in Yuma. Bridge33 Capital acquired the asset for an undisclosed price. Totaling 398,602 square feet, the acquired portion includes 49 existing tenants, including Best Buy, Ross Dress for Less, Marshalls, PetSmart, Michael’s, Five Below, Old Navy, Ulta Beauty and Harkins Theatre. Shadow anchors include Target, Sam’s Club, Dillard’s, JCPenney and 10 freestanding restaurants. David Disney and Adam Crockett of DIG represented the undisclosed seller and procured the buyer in the deal.
SAN BERNARDINO AND RIALTO, CALIF. — Stockbridge and Dedeaux Properties have completed the disposition of a three-property industrial outdoor storage portfolio in California’s Inland Empire. Terms of the transaction, including the name of the buyer and acquisition price, were not released. Totaling 1 million square feet on 23.2 acres, the three buildings are located at 446 S. Yucca Ave. in Rialto and 1066 N. Tippecanoe Ave. and 1938 W. 5th St. in San Bernardino. Mark Detmer, Evan Moran, Chad Solomon, Patrick Wood and Louis Tomaselli of JLL Capital Markets arranged the transaction. Brian Halpern and Jason Rosin, also of JLL, assisted with the procurement of the financing.
PHOENIX — Maricopa County has purchased Elevate at Dunlap, a four-story office building in Phoenix. D23 LLC, an Arizona limited liability company, sold the property for $11.3 million. Situated on more than six acres at 2233 W. Dunlap Ave., the 93,661-square-foot property was vacant at the time of sale. Built in 1988 and recently renovated, the property features a two-story parking garage. Michael Kitlica, Jerry Roberts and Pat Boyle of Cushman & Wakefield Phoenix represented the seller, while Keith Lammersen of JLL represented the buyer in the deal.
SANTA TERESA, N.M. — Hunt Southwest Real Estate Development has purchased an industrial building located at 465 Industrial Ave. in Santa Teresa, near both the Texas and Mexico borders. MCS Realty Partners sold the asset for an undisclosed price. Built in 2015, the vacant 215,256-square-foot building offers of 32-foot clear heights; existing office space; an air-conditioned space for quality control lab, production or assembly; an ESFR sprinkler system; and a secure, fenced-in truck court with trailer staging area. Additionally, there’s land adjacent to the building that can accommodate a 45,000-square-foot building expansion, additional parking or outside storage. Adin Brown of Sonny Brown Associates brought the acquisition opportunity to Hunt Southwest and will represent the company in the lease-up of the facility.
CLINTON, UTAH — Mountain West Self Storage has acquired Secure Self Storage, a 101,025-square-foot facility in Clinton, approximately 30 miles north of Salt Lake City. A family development group sold the asset for an undisclosed price. Secure Self Storage consists of four one-story buildings offering a total of 647 climate-controlled and non-climate-controlled units. The facility has brick front dividers with metal interior walls, standing-seam metal roofs, roll-up doors and asphalt driveways. Jordan Farrer and Adam Schlosser of The LeClaire-Schlosser Group of Marcus & Millichap represented the seller and procured the buyer in the transaction.
BALTIMORE — Lument has provided a $64.6 million loan for the refinancing of Nine East 33rd, a 568-bed student housing property located near Johns Hopkins University’s Homewood campus in Baltimore. Tim Smits of Lument led the team in placing the loan through Freddie Mac’s capital markets execution program on behalf of the borrower, HH Fund. The five-year, fixed-rate loan features interest-only payments for the full term. Developed in 2016, Nine East 33rd offers one-, two-, three- and four-bedroom fully furnished units.
SARASOTA, FLA. — Southern Realty Trust has provided a $56.4 million mezzanine loan for Aster & Links, a mixed-use development underway in downtown Sarasota. Situated at the intersection of Main Street and Links Avenue, the development will include two 10-story residential buildings housing 424 luxury apartments, 778 parking spaces and 51,000 square feet of ground-level retail space, including a Sprouts Farmers Market grocery store. Lantern Real Estate arranged the financing on behalf of the borrower, Belpointe PREP LLC, an affiliate of Belpointe OZ. Last year, the developer obtained a $130 million construction loan from Bank OZK for the project. Belpointe OZ plans to deliver Aster & Links in the second half of the year.
MADISON, ALA. — Marcus & Millichap has brokered the $21.7 million sale of St. Andrews Villas, a newly built, 96-unit townhome community in Madison, about four miles west of the Mazda Toyota Manufacturing plant in Huntsville. Josh Jacobs and Royce Emerson of Marcus & Millichap represented the developer, Keelon Development Inc., in the sale. The buyer was not disclosed. Built in 2023, St. Andrews Villas features one-level luxury rental townhomes with 9-foot ceilings, walk-in showers and garages featuring electric vehicle charging. Amenities include a swimming pool, coworking space and a fitness center.
AVENTURA, FLA. — Cushman & Wakefield has arranged the sale of Aventura Plaza, an 89,883-square-foot mixed-use center in suburban Miami. Situated along Biscayne Boulevard, the property comprises a neighborhood shopping center and a two-story office building spanning 23,554 square feet. Aventura Plaza was 92 percent leased at the time of sale to tenants including Ace Hardware and a recently opened grocery store, Plum Market, that replaced a former Office Depot. Mark Gilbert, Adam Feinstein and Mitchell Halpern of Cushman & Wakefield represented the seller, Aventura Plaza Partners, which has owned and operated the property for several decades. The buyer is an entity related to New York-based Elysee Investments. The sales price was not disclosed.
ROSWELL, GA. — Red Door Revivals, a locally based development firm led by Will Coley, has broken ground on Roswell Junction, a new food hall in Roswell’s historic district. The site of the 12,000-square-foot venue formerly housed Atlanta Street Baptist Church, which moved to a church in nearby Woodstock, Ga. Red Door is retrofitting the church building for the venue and is working on integrating parking and other infrastructural elements into Roswell Junction. Roswell Mayor Kurt Wilson and other city officials participated in the groundbreaking ceremony. Slated for completion this summer, the venue will house eight different food concepts and three bars, including an indoor/outdoor bar. The food hall will feature a bandstand, covered patio, arcade, big screen media, outdoor games, children’s play space and a fenced dog area. Pat Garza of National Food Hall Solutions will operate Roswell Junction upon completion.