PACOIMA, CALIF. — Newmark has arranged the sale of a five-building industrial portfolio in Pacoima. Chase Partners acquired the portfolio from a private local family for more than $16 million. John DeGrinis, Patrick DuRoss and Jeff Abraham of Newmark represented the buyer and seller in the transaction. Situated within the San Fernando Valley’s infill areas, the properties offer a total of 80,000 square feet. At the time of sale, the single-story portfolio was 100 percent occupied.
AUSTIN, TEXAS — Cushman & Wakefield has brokered the sale of The Plaza at Windsor Hills, a 200-unit multifamily property in North Austin. Built in 1983 and recently updated, the property features an amenity package that includes a pool, courtyard, bark park, clubhouse, outdoor grilling area, playground and a business center. John Carr and Ben Fuller of Cushman & Wakefield represented the seller, Miami-based One Real Estate Investment, in the transaction. The buyer was Comunidad Partners.
ELIZABETH, N.J. — Cushman & Wakefield has brokered the $34.5 million sale of a 240,000-square-foot industrial asset located within a Qualified Opportunity Zone in the Northern New Jersey community of Elizabeth. Building features include 58 loading positions, 185-foot truck court depths and an adjacent lot for tractors/employee parking. Gary Gabriel, Kyle Schmidt, Ryan Larkin, Eli Millstein, Chuck Fern and Gary Casaletto represented the undisclosed seller in the transaction. The buyer was also undisclosed. The property was fully leased to seven tenants at the time of sale.
FAIRFIELD, CALIF. — SRS Real Estate Partners has brokered the sale of a retail property located at 200 Travis Blvd. in Fairfield. A West Coast-based owner and operator of retail properties sold the asset to a Los Angeles-based private 1031 exchange investor for $6.7 million. Grocery Outlet occupies the 33,590-square-foot property, which was built in 1977 on 4.1 acres. Matthew Mousavi and Patrick Luther of SRS Real Estate Partners’ National Net Lease Group represented the seller and buyer in the deal.
FISHERS, IND. — JVM Realty Corp. has acquired The Mark at Fishers District, a 260-unit luxury apartment community in Fishers, a northern suburb of Indianapolis. The company has also acquired Fishers District, an 18-acre development with 98,186 square feet of fully leased retail and restaurant space. A dual-branded Hyatt House and Hyatt Place hotel is also on the site but was not part of the sale. JVM plans to use its in-house management and marketing teams for the residential component, but will engage a national expert in retail services to assist with management of the retail portion. George Tikijian and Hannah Ott of Cushman & Wakefield represented the seller, Thompson Thrift. The sales price was not disclosed.
EL PASO, TEXAS — Houston-based NewQuest Properties has brokered the sale of Sunrise Village Center, a 186,880-square-foot shopping center located near Fort Bliss in El Paso. Sunrise Village Center was originally built in 1957 and was 44 percent leased at the time of sale. Current tenants include Dollar General, Sally’s Beauty Supply and Black Fridays Daily Discount Store. The buyer, which plans to redevelop the property, was a Houston-based private investor doing business as JMK5 Holdings LLC. The seller was a family trust and original owner of the property. David Luther, Kelley Workman and Dakota Workman of NewQuest represented both parties in the deal.
ATLANTA — Crestlight Capital, a Detroit- and New York-based private equity real estate investment firm, and institutional investors advised by J.P. Morgan Global Alternatives have acquired two adaptive reuse projects, Inland Tract and COMPLEX, in an off-market transaction. The buyers also acquired two other properties, Puritan Mill and Ellsworth. The total sales price for all four properties was $114 million. In 2018, Third & Urban and Granite Properties formed a joint venture to transform Inland Tract and COMPLEX from warehouses into creative office and flex/showroom space prior to this sale. Urban Realty Partners sold Puritan Mill. Origin Investments sold Ellsworth. The four projects are expected to retain their individual names, but will be rebranded as the Westside Collective portfolio. Located at 1218 and 1236 Menlo Drive, Inland Tract included two warehouses totaling 79,000 square feet and features a natural light, high ceilings and outdoor workspaces. COMPLEX was redeveloped by Third & Urban and recapitalized into the partnership with Granite Properties. Located at 1175 Chattahoochee Ave., the property offers 110,000 square feet of space positioned for retail, showroom and creative office use. Puritan Mill totals 83,000 square feet of creative office space with brick and timber interiors and is connected to …
PALMETTO, GA. — Lee & Associates brokered the sale of 30.2 acres in Palmetto. Lee & Associates represented the buyer, a fund managed by a subsidiary of Ares Management Corp. The seller and price were not disclosed. On the purchased land, Ares Management Corp. plans to build Wilkerson Mill Logistics Center, a Class A industrial distribution facility totaling approximately 375,000 square feet. Wilkerson Mill Logistics Center will be a rear-loading facility with features including 36-foot minimum ceiling clear height, ample car and onsite trailer parking, ESFR sprinkler systems, LED lighting with motion sensors and dock packages. Located in Fulton County, the site is 3.5 miles from the CSX Fairburn Intermodal facility and 15.6 miles from Hartsfield-Jackson Atlanta International Airport. Construction for the project is slated for completion by the third quarter of 2022.
MOORESVILLE, IND. — JLL Capital Markets has negotiated the $43 million sale of Westpoint II, a 507,600-square-foot distribution center in the Indianapolis-area community of Mooresville. Deckers Outdoors Corp. (NYSE: DECK), a lifestyle and footwear retailer, fully occupies the facility. Completed this year, the building features a clear height of 36 feet and 50 dock-high doors. It is situated within Westpoint Business Park, a 550-acre development that will feature more than 9 million square feet of Class A industrial product upon full buildout. John Huguenard, Ed Halaburt and Brian Seitz of JLL represented the seller, Ambrose Property Group LLC. Cambridge Holdings was the buyer.
GREENVILLE, S.C. — Cushman & Wakefield has arranged the sale of Oak Ridge at Pelham, a 252-unit apartment community located in Greenville. Tai Cohen, Marc Robinson and John Phoenix of Cushman & Wakefield represented the seller, Graves Brothers Co., in the transaction. Timberland Partners acquired the property for an undisclosed price. Built in 1986, Oak Ridge at Pelham is a two-story multifamily community. Located at 150 Oak Ridge Place, the property’s units offer walk-in closets, vinyl flooring, washer/dryer hookups and fireplaces. The community offers one- and two-bedroom floor plans with an average unit size of 824 square feet. Community amenities include a basketball court, car care center, fitness center, grilling/picnic areas, laundry facilities, nature trail, pet park, business center, swimming pool and tennis court.