SAN ANTONIO — Los Angeles-based RPD Catalyst LLC has sold Pavilions North Shopping Center, a 165,993-square-foot retail property in San Antonio. Anchored by Conn’s Home Plus, Jo-Ann Fabrics, Sam Ash and K&G Fashion, the center was 99 percent leased at the time of sale. Kevin Catalani of REATA Real Estate Services represented RPD Catalyst in the transaction. The buyer was an out-of-state private investor.
BOREDENTOWN TOWNSHIP, N.J. — JLL Capital Markets has brokered the $19 million sale of Interchange 7 Business Park, a two-building industrial office complex in Bordentown Township. The complex totals 225,164 square feet across one existing two-story building and one existing warehouse. John Plower of JLL represented the seller, Equus Capital Partners, in the transaction. The buyer was undisclosed. The 33-acre property is located less than one mile from Exit 7 on the New Jersey Turnpike and less than one mile from Exit 56 of Interstate 295 in Bordentown Township.
BIRMINGHAM, ALA. — PF Holdings has completed the sale of Sunrise Pointe, a multifamily property located at 7716 Sunrise Circle in Birmingham. Forge Partners acquired the property for an undisclosed price. Built in 1978, Sunrise Pointe features 344 apartments, immediate access to Interstate 20 and close proximity to retail and entertainment opportunities in the city’s Irondale and Crestwood submarkets. Josh Jacobs of Cushman & Wakefield represented the seller in the transaction.
ZEPHYR COVE, NEV. — Dickson Commercial Group (DCG) has arranged the sale of Round Hill Square Shopping Center, a retail property located in Zephyr Cove, near Lake Tahoe. ROIC Zephyr LLC sold the property to an undisclosed buyer for $28 million. Situated on 10.2 acres, the 115,984-square-foot property was 96.8 percent occupied at the time of sale. Tenants include Safeway, United States Postal Service, Wells Fargo, Dollar Tree, Subway, WorldMark by Wyndham and Barton Healthcare Lake Tahoe Surgery Center. Chris Shanks, Dominic Brunetti and Scott Shanks of DCG, along with Tony Bernheim of Carlsbad Capital, represented the seller in the deal.
FOREST PARK, ILL. — Marcus & Millichap has brokered the $4.7 million sale of Hampshire House in Forest Park, 10 miles west of Chicago. The 48-unit apartment building is located at 520 Des Plaines Ave. and features a mix of one- and two-bedroom units. Eric Bell of Marcus & Millichap listed the property on behalf of the seller, a private investor. He also secured and represented the private buyer.
SAN FRANCISCO — Hudson Pacific Properties Inc. (NYSE: HPP) and Allianz Real Estate have formed a joint venture to acquire the Ferry Building in downtown San Francisco. Located at the foot of Market Street along the San Francisco Bay waterfront, the landmark features 192,532 square feet of office space and 75,486 square feet of retail space. Equity Office, an affiliate of the Blackstone Group, sold the leasehold interest in the land and improvements to the Ferry Building to the joint venture for $291 million. The remaining term on the ground lease, which is owned by the Port of San Francisco, is 49 years. The Ferry Building is fully leased to companies including SS&C Technologies Inc., Meltwater Inc., Meritage Group LP and Niantic Inc., as well as restaurants and retail tenants such as The Slanted Door and Blue Bottle Coffee. The Ferry Building also plays host to the Ferry Building Marketplace, a public food market that is organized along an indoor street known as the Nave. The food market attracts more than 8.8 million annual visitors. Hudson Pacific owns a 55 percent interest in the joint venture and will serve as the managing member and day-to-day operator of the property, while …
DAYTONA BEACH, FLA. — Marcus & Millichap has arranged the sale of a two-property, 384-unit multifamily portfolio in Daytona Beach for a total of $37 million. Built in 1987, the 240-unit Lake Forest Apartments sold for $23.5 million, while the 144-unit Jade Park sold for $13.4 million. Situated side-by-side in a wooded lakeside setting, the communities are near the Daytona International Speedway, Volusia Square Mall, One Daytona and Daytona Beach International Airport. Michael Donaldson and Nicholas Meoli of Marcus & Millichap represented the undisclosed seller and procured the undisclosed buyer in the deal.
HOMESTEAD AND DUBOIS, PENN. — STREAM Capital Partners has brokered the $23.7 million sale of a three-building office portfolio in Pennsylvania. The 113,000-square-foot portfolio is located at 385 and 395 E. Waterfront Drive in Homestead and 203 W. Weber Ave. in DuBois. Phil DiGennaro, Ryan Smeele, Jordan Shtulman and Jonathan Wolfe of STREAM Capital represented the undisclosed seller in the transaction. The undisclosed buyer was in a 1031 exchange. The portfolio is currently net leased to GAI Consultants.
FORT WORTH, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of RiverVue Apartments, a 375-unit multifamily property in Fort Worth. Built in 2017, the community is located within the 63-acre Trinity River in Waterside mixed-use development and consists of studio, one- and two-bedroom units. Amenities include a pool, fitness center, outdoor grilling area, cyber lounge and conference room, on-site storage units, a game room and nearby walking trails. Will Balthrope, Drew Kile and Joey Tumminello of IPA represented the buyer, St. Regis Properties, in the sale. Jake Roberts, also of IPA, arranged a 10-year, fixed-rate loan for the acquisition through an undisclosed life insurance company.
SUNNYVALE, CALIF. — SRS Real Estate Partners has negotiated the sale of Mary Manor Center, a retail center in Sunnyvale. A high-net-worth private investor acquired the property from a local family office for $10.3 million in a 1031 exchange. Located at 201 S. Mary Ave., the two-building property is situated on 1.1-acre site. The 11,950-square-foot property is fully occupied by Starbucks Coffee and six other neighborhood retailers. This is the first time the property has traded hands since it was built in 2004. Chris Tramontano, John Redfield and Bruce Frazier of SRS represented the seller in the transaction.
