MATTESON, ILL. — Reich Brothers has acquired a 392,740-square-foot industrial property and adjacent 53 acres in Matteson, about 30 miles south of Chicago. The purchase price was undisclosed. Al Caruana and Britt Casey of Cushman & Wakefield represented Reich in the acquisition. The duo will provide leasing services for the property along with colleagues Sally Macoicz and Matthew Saddler. The cross-dock building is located at 21800 S. Cicero Ave. near I-50 and I-80.
NEW YORK — Atlanta-based self-storge investment firm Storage Post has acquired four facilities totaling 3,900 units in the New York City area. Specifically, the properties, which span more than 370,000 gross square feet, are located in Garden City, Floral Park, Huntington Station and Yorktown Heights. Storage Post has operated the facilities on behalf of the seller, an undisclosed institutional investor, since 2016 and will continue to do so following the change in ownership.
SAN DIEGO — Newmark has arranged the sale of Governor Park Portfolio, an office campus with life sciences redevelopment potential located at 6200 and 6220 Greenwich Drive in San Diego. The buildings traded for $145 million. The portfolio comprises two office buildings situated on individual parcels. The building at 6200 Greenwich Drive offers 70,987 square feet and situated on 4.4 acres. The asset is 100 percent leased to University of California, San Diego (UCSD) through May 2026. The building at 6220 Greenwich Drive totals 141,214 square feet on a 6.2-acre parcel. The 6220 building is fully leased to Mitchell International through October 2025. The portfolio has been institutionally owned and operated since the buildings were originally developed. It is serviced by ample surface parking, as well as a five-story parking facility, providing an above-market-standard parking ratio. Kevin Shannon, Brunson Howard, Paul Jones and Ken White of Newmark represented the undisclosed seller in the deal.
CARY, N.C. — JLL Capital Markets has arranged the sale of Twin Lakes Center, a multi-tenant shopping center in Cary anchored by Wegmans. Thomas Kolarczyk and Ryan Eklund of JLL represented the seller, Leyland Alliance. Dallas-based L&B Realty Advisors acquired the property on behalf of an institutional client. The sales price was not disclosed. Built in 2020, Twin Lakes Center was fully leased at the time of sale to tenants including Hollywood Feed, Great Clips, Mezeh Mediterranean Grill, Premier Martial Arts, PM Pediatrics, Paris Nail Bar, Bul Box and Gulli Boys. Situated on 1.7 acres at 1125 Hatches Pond Lane, Twin Lakes Center is situated 16.1 miles from Raleigh and 14.1 miles from Durham.
CHICAGO — The Howard Hughes Corp. (NYSE: HHC) has sold its equity interest in 110 North Wacker Drive, a 55-story office tower spanning 1.5 million square feet in Chicago. Callahan Capital Partners and Oak Hill Advisors purchased the stake for $210 million. Based on this sales price, the implied value of the office tower is more than $1 billion, representing the highest valuation for an office property in Chicago since the sale of Willis Tower in 2015, according to Howard Hughes. The Class A building, located along the Chicago River, opened in October 2020 and was co-developed by Howard Hughes and Riverside Investment and Development Co. The property is more than 82 percent leased by tenants such as Bank of America, Heitman, Lincoln International, Jones Day and Morgan Lewis. Eastdil Secured represented Howard Hughes in the sale.
FORT WORTH, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Heights of Cityview, a 344-unit apartment community in southwest Fort Worth. Built on 22 acres in 1998, the property features one-, two- and three-bedroom units with an average size of 984 square feet. Amenities include multiple pools, a fitness center, clubhouse, pet park, package locker system and outdoor grilling areas. Drew Kile, Joey Tumminello, Michael Ware, Asher Hall, Taylor Hill and Will Balthrope of IPA represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
RENO, NEV. — Marcus & Millichap has arranged the sale of The ERGS Portfolio, an eight-property apartment portfolio in Reno. The 1,077 units traded for $302.5 million, or $280,872 per unit. Kenneth Blomsterberg, Ryan Rife and Daniel Winrod of Marcus & Millichap’s Reno office represented the undisclosed seller and procured the undisclosed buyer in the deal. Built between 1958 and 2021, the portfolio includes: North Peak Apartments, 352 units Silver Lake Apartments, 352 units Sierra Sage Apartments, 232 units Vale Apartments, 40 units Vale Townhomes, 16 units Peavine Peaks, 30 units Oak Manor, 47 units Angel Street Apartments, eight units
AMHERST, MASS. — CBRE has brokered the sale of North 116 Flats, a 404-bed student housing community serving students at the University of Massachusetts at Amherst, located in the central part of the state. Built in 2020, North 116 Flats totals 150 units that were approximately 95 percent occupied at the time of sale. Georgia-based Landmark Properties acquired the property from Dallas-based Fountain Residential Partners for an undisclosed price. Jaclyn Fitts, William Vonderfecht, Casey Schaefer, Biria St. John and Simon Butler of CBRE brokered the deal.
YORK, PA. — National developer CRG has sold The Cubes at Emig Road, a 311,920-square-foot speculative industrial facility in York. The newly built, cross-dock warehouse sits on 29 acres and features a clear height of 36 feet, high-efficiency LED lighting, 29 dock doors, 149 car parking spaces and 27 trailer stalls. Approximately 125,000 square feet of the building is leased to DCL Logistics, a third-party logistics company based in Fremont, Calif. JLL is marketing the remainder of the space for lease. CRG’s parent company, Clayco, served as design-builder on the project, and its subsidiary, Lamar Johnson Collaborative, was the architect. The buyer was not disclosed.
MIAMI BEACH, FLA. — Franklin Street has brokered the $9.3 million sale of North Miami Beach Financial Center, a two-story office building leased in North Miami Beach. Ivan Herrera of Florida Royalty Investments Group LLC acquired property from Alberto Lensi of Addi Properties. Adam Tiktin and Greg Matus of Franklin Street represented the seller in the transaction. Built in 1972, North Miami Beach Financial Center is located in an opportunity zone and features a two-story Regions Bank branch. The SAE Institute has also been a tenant of the building since 2002. The property features fundamentals including 675 feet of frontage along West Dixie Highway, easy access and parking. Located at 16051 W. Dixie Highway, the property is situated about 17 miles from Miami International Airport and downtown Miami.
