SAN JOSE, CALIF. — Cupertino, Calif.-based Hunter Properties has completed the sale of Phase I of Coleman Highline, a 1.75 million-square-foot, mixed-use campus in San Jose. The transaction included two office buildings totaling 360,000 square feet and fully leased to Roku, an amenities building and parking structure. Upon full build out, the Coleman Highline will total eight office buildings, a 175-room hotel and 115,000 square feet of amenity and retail space.
BOSTON — Newmark has brokered the sale of One Alewife Center, a 90,000-square-foot life sciences facility located adjacent to the MBTA Alewife station on the city’s north side. The facility is situated within the 290,000-square-foot Alewife Park office and life sciences campus. Robert Griffin, Edward Maher, Matthew Pullen and Samantha Hallowell of Newmark represented the seller, James Campbell Co., in the transaction. The team also procured life sciences REIT IQHQ as the buyer. IQHQ also purchased the larger Alewife Park campus in July.
NEW BRAUNFELS, TEXAS — Chicago-based investment firm Sherman Residential has acquired Avenues at Creekside Apartments, a 395-unit multifamily community located just outside San Antonio in New Braunfels. The 32-building property was constructed in 2013 and features one-, two-, three- and four-bedroom units with attached garages or assigned carports and personal patios/balconies. Amenities include a pool, fitness center, business center, playground and a pet park. The seller was not disclosed.
MERRIONETTE PARK, ILL. — Newport Capital Partners has purchased Stonebrook Plaza in Merrionette Park, located about 17 miles southwest of Chicago. The purchase price was undisclosed. Stonebrook Plaza is a 95,825-square-foot shopping center anchored by grocer Jewel-Osco. It is currently 96 percent leased. Other tenants include Blink Fitness and Pet Supplies Plus as well as eateries and personal care tenants. Jewel-Osco has operated at the property since 1985. Jacksonville, Fla.-based Regency Centers was the seller. Chicago-based Newport specializes in the acquisition and management of neighborhood shopping centers throughout major metro areas.
SCOTTSDALE, ARIZ. — Fadden Enterprises has completed the sale of Evans Airpark Center, a four-building industrial park located at 8212 and 8224 E. Evans Road and 14555 and 14557 N. 82nd St. in Scottsdale. Portland, Oregon-based Harsch Investment Properties acquired the multi-tenant asset for $17.6 million. Tracy Cartledge, Steve Lindley, Bob Buckley and Michael Kitlica of Cushman & Wakefield’s Phoenix office represented the seller in the transaction. Evans Airpark Center consists of four buildings offering a total of 120,433 square feet of industrial space. The manufacturing/warehouse facility was constructed in the early 1980s, while the remaining three general industrial buildings were constructed in 2006. At the time of sale, the industrial park was 90 percent occupied by multiple tenants.
RICHMOND, CALIF. — TJL Properties has completed the disposition of a light industrial warehouse and office facility located in the East Bay community of Richmond. An institutional investor acquired the asset for $50.1 million. Situated on 12.3 acres at 700-702 National Court, the asset features 267,500 square feet of light industrial and office space. The property comprises a 250,500-square-foot industrial warehouse and a 17,000-square-foot office building. The industrial component features 22-foot clear heights and 15 dock-high, two grade-level and four rail doors. At the time of sale, the facility was triple-net leased to a beverage distribution company. Ryan Sitov, Tony Beatty, Mark Detmer and Andie Fezell of JLL Capital Markets represented the seller in the deal.
PHILADELPHIA — CBRE has negotiated the sale of SoPhi Logistics Center, a 283,500-square-foot industrial property located at 2400 Weccacoe Ave. in Philadelphia. Michael Hines, Brian Fiumara, Brad Ruppel and Lauren Dawicki of CBRE represented the seller, Wharton Industrial Partners, which acquired the asset in 2019 and implemented a capital improvement program. The property was originally built in 1970 and was fully occupied at the time of sale. The buyer was not disclosed.
NORTH LAS VEGAS, NEV. — The Desert West Region of Lincoln Property Co. (LPC Desert West) has increased its Nevada presence with the acquisition of West Craig Industrial Center at 70-78 W. Craig Road in North Las Vegas. A partnership between Huntington Industrial Properties and Polk Street Industrial sold the asset to LPC Desert West for $48.6 million. Delivered in 2019, West Craig Industrial Center features 343,820 square feet of Class A industrial space on 20 acres. The three-building portfolio offers 30- to 32-foot clear heights, 91 dock doors with a combination of drive-in and dock-high configurations, ESFR sprinklers and insulated ceilings. Darla Longo and Barbara Emmons of CBRE’s National Partners Team represented the seller in the deal. LPC Desert West will provide property management services for West Craig Industrial Center. With this acquisition, LPC Desert West now owns nine buildings and almost 800,000 square feet of industrial space in Nevada.
FORT WORTH, TEXAS — Locally based investment firm Fort Capital has sold a portfolio of 18 light industrial buildings totaling 606,889 square feet located throughout the Dallas-Fort Worth (DFW) metroplex. Each of the Class B properties offers proximity to one of the metroplex’s major interstates. The portfolio was 95 percent occupied at the time of sale. The buyer was not disclosed. Stephen Bailey, Dustin Volz, Zane Marcell, Wesley Gilmer and Erin Lazarus of JLL represented the seller in the transaction. Birtcher Anderson, in a joint venture with Belay Investment Group, purchased the portfolio.
SMYRNA, GA. — Cushman & Wakefield has arranged the $68.2 million sale of The Eddy at Riverview Landing, a 310-unit multifamily community in Smyrna. The property offers one-, two- and three-bedroom floor plans. Communal amenities include a fitness center, bike storage, walking trails, dog park and a car charging station. The property is situated along the Chattahoochee River at 6255 Riverview Road SE, 10 miles west of downtown Atlanta. Watson Bryant, Paul Marley and Taylor Bird of Cushman & Wakefield represented the seller, Prestwick Cos., in the transaction. JEM Holdings acquired the asset.
