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Monterey-Station-Pomona-CA
AcquisitionsCaliforniaMultifamilyWestern

Standard Communities, Faring Acquire Monterey Station Apartments in California for $130M

by Amy Works

POMONA, CALIF. — Standard Communities and Faring, a national investor and developer of affordable and workforce housing, have purchased Monterey Station, a multifamily community in Pomona. Clear Capital sold the property for $130 million. Located at 120-180 E. Monterey Ave., Monterey Station features 349 apartments with 14 different floor plans. Unit amenities include stainless steel GE appliances, Nest thermostats, walk-in closets, stackable washers/dryers, nine-foot ceilings and central air and heating. Community amenities include a resort-style pool and spa; fitness center with outdoor workout area; water and fire features; courtyards with cabanas; a dog run; and a resident clubhouse. Dean Zander and Stewart Weston of CBRE represented the seller in the transaction.

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Two-Drydock-Boston
AcquisitionsMassachusettsNortheastOffice

KKR, Synergy Acquire Office Building in Boston’s Seaport District for $234.5M

by Taylor Williams

BOSTON — A partnership between global investment firm KKR and Boston-based Synergy Investments has acquired Two Drydock, a 235,000-square-foot office building located in the state capital’s Seaport District, for $234.5 million. The 13-story building features 7,000 square feet of ground-floor retail space that was recently leased to Lord Hobo Brewing Co. and Render Coffee, as well as 150 above-ground parking spaces and a 10,000-square-foot outdoor plaza. Newmark represented the seller, international developer Skanska, which originally broke ground on the property in June 2018, in the transaction.

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AcquisitionsIndustrialMidwestWisconsin

Coldwell Banker Commercial Arranges $12.1M Sale of Industrial Building in Janesville, Wisconsin

by Kristin Harlow

JANESVILLE, WIS. — Coldwell Banker Commercial has arranged the $12.1 million sale of a 150,000-square-foot industrial building in Janesville, about 75 miles southwest of Milwaukee. Built in 2016 and located at 4260 Capital Circle, the property features a clear height of 30 feet, 12 exterior docks and two drive-in doors. The tenant, IPM Foods, completed a lease renewal and expansion earlier this year. Following the expansion of warehouse space and a freezer, the building will measure 170,000 square feet. Bill Mears and Adam Schultz of Coldwell Banker Commercial McGuire Mears & Associates represented the seller, Badger Property Investments. The buyer was not provided.

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Union Cross Distribution Center
AcquisitionsIndustrialNorth CarolinaSoutheast

Dalfen Acquires 304,200 SF Industrial Property in Winston-Salem, North Carolina

by Julia Sanders

WINSTON-SALEM, N.C. — Dalfen Industrial has acquired Union Cross Distribution Center, a 304,200-square-foot industrial property in Winston-Salem. The sales price and seller were not disclosed. The building was fully leased at the time of sale. Built in 2006, Union Cross Distribution Center is located one mile off Interstate 74 with convenient access to Interstates 40 and 85. This location provides a last-mile distribution opportunity within North Carolina’s Triad region to reach Winston-Salem, Greensboro and High Point’s population base. Other tenants nearby include FedEx, Amazon, Caterpillar, Proctor & Gamble and PepsiCo.

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Elan-City-Centre-Farmers-Branch
AcquisitionsMultifamilyTexas

HLC Equity Acquires 330-Unit Elan City Centre Apartments in Metro Dallas

by Taylor Williams

FARMERS BRANCH, TEXAS — Pittsburgh-based investment firm HLC Equity has acquired Elan City Centre, a 330-unit apartment community located in the northern Dallas suburb of Farmers Branch. Built in 2013, the property features one- and two-bedroom units with an average size of 771 square feet. Amenities include a pool, 24-hour fitness center, business center, entertainment lounge, dog park and outdoor grilling stations. Drew Kile, Joey Tumminello, Will Balthrope, Michael Ware, Taylor Hill and Asher Hall of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller, MIG Real Estate, in the transaction. The team also procured HLC Equity, which will rebrand the property as Layers Galleria, as the buyer.

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Hallmark-Mission-Ontario-CA
AcquisitionsCaliforniaMultifamilyWestern

CBRE Arranges $28M Sale of Hallmark at Mission Apartments in Ontario, California

by Amy Works

ONTARIO, CALIF. — CBRE has arranged the sale of Hallmark at Mission, a multifamily property in Ontario. A private investor sold the asset to a private foreign investor for $28 million in an all-cash transaction. Located at 840 S. Magnolia Ave., the four-story property features 75 units in a mix of one- and two-bedroom layouts. Community amenities include a swimming pool, spa, clubhouse, fitness center and private attached garages. The property was constructed in 2019. Eric Chen of CBRE represented the seller and buyer in the deal.

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AcquisitionsMidwestOhioRetail

First National Realty Partners Acquires Southland Crossings Shopping Center in Boardman, Ohio

by Kristin Harlow

BOARDMAN, OHIO — First National Realty Partners has acquired Southland Crossings in Boardman, about 50 miles east of Akron. The purchase price and seller were undisclosed. Giant Eagle Supermarket anchors the 245,678-square-foot shopping center, which is located on Doral Drive. The property is 91 percent leased by tenants such as Ross Dress for Less, PetSmart, DSW and Michaels.

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3747-Hecktown-Road-Easton-Pennsylvania
AcquisitionsIndustrialNortheastPennsylvania

Realterm Acquires 307,290 SF Warehouse in Easton, Pennsylvania

by Taylor Williams

EASTON, PA. — Global logistics operator Realterm has acquired a 307,290-square-foot warehouse that is located at 3747 Hecktown Road in the Lehigh Valley city of Easton. Built on 28.5 acres in 1986 and expanded in 2017, the single-tenant property features 32 loading positions, 56 trailer parking stalls, 370 car parking spaces and 4,800 square feet of freezer space. The property was fully leased at the time of sale. John Plower, Ryan Cottone, Zach Maguire and Jeff Lockard of JLL brokered the deal on behalf of Realterm. The seller was not disclosed.

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Willow Oaks
AcquisitionsDistrict of ColumbiaOfficeSoutheast

KBS Sells Three-Building Office Park in Metro D.C. for $106M

by Julia Sanders

FAIRFAX, VA. — KBS has sold Willow Oaks Corporate Center, a 584,147-square-foot, Class A office park in Fairfax, which is about 18.7 miles west from Washington, D.C. Bridge Investment Group purchased the property for $106 million. KBS owned the property via KBS Real Estate Investment Trust II. Built in three phases in 1986, 1989 and 2003, Willow Oaks Corporate Center is a three-building office park located near the intersection of Route 50 and the Capital Beltway. The office center has obtained WiredScore Gold and Silver certifications, which has to do with the property’s wired infrastructure, internet connectivity and resilience. The property also features EV car-charging stations and an energy-management system. Building amenities include bike storage, an outdoor picnic area, carwash and detail service, private tenant balconies, concierge service and multiple bus shuttles. Located at 8281-8399 Willow Oaks Corporate Drive, the property is 7.4 miles from George Mason University, less than one mile from Inova Fairfax Hospital and 1.1 miles from the Mosaic District Town Center, a 31-acre mixed-use development with retail and dining options. The property is also situated near several retailers and restaurants such as Great Wall Supermarket, McDonald’s, Starbucks, Sweetwater Tavern and CVS/pharmacy. Under KBS’ previous ownership, the …

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Sylvania-Industrial-Park-Fort-Worth
AcquisitionsIndustrialNAITexas

NAI Robert Lynn Arranges Sale of 880,000 SF Sylvania Industrial Park in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — NAI Robert Lynn has arranged the sale of Sylvania Industrial Park, an 880,000-square-foot manufacturing campus in Fort Worth. Todd Hubbard of NAI Robert Lynn represented the buyer, Dallas-based CanTex Capital, which plans to implement a value-add program, in the transaction. The seller and sales price were not disclosed. Sylvania Industrial Park is the largest crane- and rail-served manufacturing campus of its kind in the metroplex, according to the brokerage team.

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