GALVESTON AND BAYTOWN, TEXAS — Self-storage brokerage firm Versal has negotiated the sale of a portfolio of two self-storage facilities totaling 790 units in Galveston and Baytown. The facilities, which are together known as the Watson & Taylor Portfolio, total 104,830 net rentable square feet. Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of Versal represented the Texas-based seller in the transaction. The team also procured the buyer, New York-based owner-operator Andover Properties, which is perhaps best known for its Storage King USA brand.
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PITTSBURGH — Newmark has arranged the sale of Foster Plaza Nine, a 155,663-square-foot office building in Pittsburgh’s Parkway West submarket. The property was built in 1990 and was 64 percent leased at the time of sale. David Dolan, Michael Margolis, Gerry McLaughlin, Jeff Schultz, Angelo Brutico and John Cook of Newmark represented the seller, Sterling Equities, in the transaction. The undisclosed buyer plans to implement a value-add program.
HOUSTON — JLL has arranged the sale of Steeplechase Center, a 195,575-square-foot retail power center in northwest Houston. At the time of sale, Steeplechase Center was 82 percent leased to tenants such as Goodwill, Melrose, Citi Trends, Uptown Beauty, Dollar Tree, dd’s Discounts, 99 Cents Only, Big City Wings, Leslie’s Pool Supplies and Rent-A-Center. John Indelli and Ryan West of JLL represented the seller, an entity doing business as Jones 1960 Crossroads LLC, in the transaction. Nashville-based investment firm Highland Capital purchased the asset for an undisclosed price.
PRINCETON, N.J. — JLL has negotiated the $12.7 million sale of a 71,550-square-foot office building in Princeton. Built in 2001, the three-story building sits on 7.6 acres at 150 College Road W and was 69 percent leased at the time of sale. Jeremy Neuer, Jose Cruz, Kevin O’Hearn, Tom Romano and Alexander Alfier of JLL represented the seller, Nessel Development, in the transaction. The buyer was New Jersey-based Strategic Funding Alternatives.
SWEDESBORO, N.J. — CBRE has brokered the $13 million sale of a 119,000-square-foot light industrial building in Swedesboro, about 25 miles south of Philadelphia. The single-tenant building sits on 12 acres and houses the corporate headquarters and distribution center of Thomas Scientific, a supplier of lab equipment. Stephen Marzullo, Adam Silverman, Michael Hines, Brian Fiumara, Brad Ruppel, Joe Hill and Lauren Dawicki of CBRE represented the seller, Newvine Corp., in the transaction. The buyer was New Jersey-based investment firm Faropoint.
BEAUMONT AND NEDERLAND, TEXAS — Marcus & Millichap has brokered the sale of a portfolio of seven self-storage facilities totaling 2,627 units in southeast Texas. The properties were constructed in the 1970s and 1980s and total 389,501 net rentable square feet. Two of the properties are located in Beaumont, and two are located in Nederland, with the other facilities located in Groves, Bridge City and Orange. Dave Knobler and Charles LeClaire of Marcus & Millichap represented the seller, a California-based liability company that purchased the portfolio in 2018, in the transaction. The duo also secured the buyer, a North Carolina-based limited liability company.
BRIDGEPORT, CONN. — Northeast Private Client Group (NEPCG) has brokered the $39.6 million sale of The Rhodium Portfolio, a collection of 13 multifamily buildings totaling 437 units in the southern coastal Connecticut community of Bridgeport. The buildings, which are located in a variety of neighborhoods across the city, house a mix of studio, one-, two- and three-bedroom apartments. Brad Balletto of NEPCG represented the buyer and seller, both of which requested anonymity, in the transaction.
AUSTIN, TEXAS — The Nord Group, a private equity firm with offices in New York City and Houston, has acquired The Park at Crestview, a 248-unit apartment community in North Austin. Built in 1970, the property consists of 37 two-story buildings on a 13-acre site. Residences come in one-, two- and three-bedroom floor plans, and amenities include a pool, playground and a dog park. Austin Marshak of New York City-based brokerage firm Rosewood Realty Group represented Nord Group in the transaction. Mike Kerwin and Scott Bernstein, also with Rosewood, represented the seller, Houston-based investment firm Nitya Capital.
CHESHIRE, CONN. — Regional investment firm Treetop Cos. has acquired CentConn Logistics, a 527,000-square-foot warehouse in Cheshire, located roughly midway between Hartford and New Haven. The sales price was $39 million. The site is fully entitled and approved for 238,668 square feet of new development. Brian Schulz, Kevin Welsh, Cory Gubner, Art Ross and Brad Soules of Newmark represented Treetop and the seller, DRA Advisors, in the transaction. Ari Schwartzbard and Thomas Lubeck, also with Newmark, arranged an undisclosed amount of acquisition financing through an undisclosed life company on behalf of Treetop.
FORT WORTH, TEXAS — San Diego-based investment firm Westcore has acquired three industrial buildings totaling 485,330 square feet in Fort Worth. Buildings 1, 2 and 4 within North Quarter 35, a development by M2G Ventures, were all fully leased at the time of sale. Seth Koschak and Matteson Hamilton represented the seller in the transaction. Westcore was self-represented. North Quarter 35 features a mix of shallow-bay, read-load and cross-dock buildings totaling 645,000 square feet.