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Exeter Property Group Acquires 193,000 SF Industrial Building in Lombard, Illinois

LOMBARD, ILL. — Exeter Property Group has acquired a 193,000-square-foot industrial building located at 100 Progress Road in Lombard for an undisclosed price. The property is situated at the intersection of I-355 and North Avenue in the Central DuPage County submarket. The building offers clear heights ranging from 24 to 29 feet and is fully leased to Orora Packaging. David Bercu of Colliers International brokered the sale. A private investor sold the

Avison Young Brokers $7M Sale of Two Retail Properties in Metro Boston

NEEDHAM AND NEWTON, MASS. — Avison Young Commercial Real Estate has brokered the $7 million sale of two retail properties in Needham and Newton, two western suburbs of Boston. The property in Needham, a 15,609-square-foot retail center located at 238 Highland Ave., is leased to Needham Montessori School, Mandarin Cuisine Restaurant and Needham Nail & Spa. The property in Newton, a 3,588-square-foot building located at 106 Needham St., is leased to fitness equipment distributor Gym Source. …

PS Business Parks Acquires Two Industrial/Flex Assets in California for $30.3M

SANTA CLARA AND LA MIRADA, CALIF. — PS Business Parks (PSB) has completed the acquisition of two business parks in California for a total consideration of $30.3 million. The purchases will qualify as 1031 exchanges for tax purposes. On Dec. 20, 2019, PSB purchased San Tomas Business Center in Santa Clara for $16.6 million. Totaling 79,400 square feet, the park features nine buildings offering suites ranging from 200 square feet to 3,500 square feet. At the time of closing, the property was …

Cushman & Wakefield Brokers $169M Multifamily Portfolio Sale in Georgia, South Carolina

ATLANTA — Cushman & Wakefield’s Multifamily Advisory Group has brokered the $169 million sale of an eight-property multifamily portfolio totaling 1,544 units in Georgia and South Carolina. The portfolio comprises two properties in each Macon, Augusta and Warner Robbins, Ga.; and two properties in Aiken, S.C. The average age of the portfolio is 30 years old and was 94 percent occupied at the time of sale. Capital Square 1031, a national real estate firm specializing in tax-advantaged …

Progress Realty Acquires Shopping Center in Fayetteville, North Carolina for $36M

FAYETTEVILLE, N.C. — Progress Realty Partners has acquired Marketfair Shopping Center, a 219,000-square-foot retail property in Fayetteville, for $36 million. The property recently underwent a complete redevelopment and remerchandising, highlighted by the mid-December grand opening of Lidl. The German grocer joins other national tenants such as Planet Fitness, Gander Outdoors and AMC Theatres. Marketfair Shopping Center is located at 1916 Skibo Road, six miles west of downtown Fayetteville. …

CBRE Arranges Sale of 174-Bed Campus Walk Community Near California State University, Chico

CHICO, CALIF. — CBRE has arranged the sale of Campus Walk, a 174-bed student housing community serving California State University, Chico. NB Private Capital purchased the property from Dallas-based Fountain Residential Partners for an undisclosed price. Jaclyn Fitts, William Vonderfecht, Casey Schaefer and Marc Ross of CBRE arranged the transaction on behalf of the seller. The property offers shared amenities including a swimming pool, outdoor movie screen and fitness

Colliers Brokers $26.1M Sale of Palmer Park Apartments in Colorado Springs

COLORADO SPRINGS, COLO. — Colliers International Multifamily Advisory Group has arranged the sale of The Palmer Park Apartments, a multifamily property located at 1304 E San Miguel St. in Colorado Springs. Roundhouse, a Los Angeles-based investment and development firm, sold the asset to Los Angeles-based Clear Capital for $26.1 million, or $130,500 per unit. The acquisition price is a record price per square foot for the multifamily assets built in Colorado Springs before 1990. Built in …

Rockwood Capital Acquires Historic Telephone Building in Santa Monica

SANTA MONICA, CALIF. — An affiliate of Rockwood Capital has purchased the Telephone Building, a historic property in downtown Santa Monica. DivcoWest sold the asset for an undisclosed price. The seller acquired the 58,000-square-foot creative office and retail building in 2017. During its ownership, DivcoWest completed lease-up, implemented capital improvements and obtained historical landmark status for the building from the City of Santa Monica under the Mills Act. The historic landmark …

NKF Arranges Sale of 312-Unit Lenox Stone Oak Apartments in San Antonio

SAN ANTONIO — Newmark Knight Frank (NKF) has arranged the sale of Lenox Stone Oak, a 312-unit apartment community located in north central San Antonio. Built in 2017, the property’s units feature faux wood flooring, spa-like bathrooms and full-size washers and dryers. Amenities include a pool, fitness center, outdoor entertainment area, resident clubhouse and a dog park. Patton Jones of NKF represented the seller and developer, Austin-based Oden Hughes, in the transaction. Patrick Short, …

Block & Co. Arranges $10M Sale of Self-Storage Facility in Independence, Missouri

INDEPENDENCE, MO. — Block & Co. Inc. Realtors has arranged the sale of a 28.6-acre self-storage property in Independence for $10 million. The facility features 741 enclosed units and 450 parking stalls. William Glasgow of Block & Co. represented the seller, Lake City U-Store. The buyer, State Storage Group Kansas City LLC, plans to modernize the entire facility with computer-automated climate control and other technological

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