FORT WORTH, TEXAS — Marcus & Millichap has brokered the sale of Amadco Self Storage, a facility in Fort Worth. The number of units was not disclosed. The property is situated on 10 acres and spans 31,305 net rentable square feet. Brandon Karr and Danny Cunningham of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties were limited liability companies that requested anonymity.
LAKE WORTH, FLA. — Continental Realty Corp. (CRC), a Baltimore-based real estate investment and management company, has acquired The Shoppes at Sherbrooke, a 57,901-square-foot neighborhood shopping center anchored by LA Fitness. Kirk Olson and Drew Kristol of Marcus & Millichap’s Miami office represented the undisclosed seller in the $11.3 million deal. The Shoppes at Sherbrooke was purchased via Continental Realty Fund V LP, a $210.8 million private equity fund focused on acquiring value-add retail and multifamily properties in the Mid-Atlantic and Southeast regions. The Shoppes at Sherbrooke represents the seventh retail property and ninth asset acquired by the fund, following last year’s acquisition of Mount Pleasant Towne Centre, a 510,000-square-foot, open-air regional shopping venue near Charleston, S.C.. Constructed in 2004 and positioned at 8954 Lantana Road, The Shoppes at Sherbrooke has a tenant mix comprising six retailers. The approximate eight-acre site includes a nearly one-acre undeveloped land parcel. The property is approximately 15 miles from Palm Beach International Airport and less than 15 miles from downtown West Palm Beach.
SAN MATEO, CALIF. — Longfellow Real Estate Partners has purchased San Mateo Bay Center, a two-building office campus located at 901 and 951 Mariners Island Blvd. in San Mateo. Rubicon Point Partners sold the asset for $156 million. Steven Golubchik, Edmund Najera, Jonathan Schaefler, Darren Hollak and Jack Phipps of Newmark represented the seller in the deal. Totaling nearly 250,000 square feet, the campus is currently 88 percent occupied with substantial near-term rollover of 198,000 square feet in the first three years, enabling a conversion to life sciences space for the buyer. The campus has received more than $17 million in capital improvements since 2015, including multiple outdoor amenity spaces, a ground-floor café, onsite fitness center, creative exposed ceilings in tenant areas, HVAC renovations, lobby upgrades and parking lot resurfacing.
TUCSON, ARIZ. — Taylor Street Advisors has arranged the sale of Fort Lowell Casitas, a multifamily community located at 1501-1503 E. Fort Lowell Road in Tucson. An out-of-state investor acquired the property for $1.5 million, or $116,153 per unit. The Class B property features 13 two-bedroom/one-bath units. The seller was not disclosed.
REXBURG, IDAHO — The LeClaire-Schlosser Group of Marcus & Millichap has arranged the purchase of StorageBay Rexburg, a self-storage facility located at 322 W. Fourth South in Rexburg. Terms of the transaction were not released. Jordan Farrer and Adam Schlosser of Marcus & Millichap, with Paul Ryan of Marcus & Millichap serving as the broker of record, procured the buyer in the deal. Situated on nearly one acre, StorageBay Rexburg consists of 12,652 net rentable square feet totaling 167 self-storage units. The property was built in 2008 and features best-in-class construction and amenities.
CHICAGO — Kiser Group has brokered a condo deconversion sale in Chicago’s Lakeview neighborhood for $32.2 million. Known as The Barry Quad, the three-building condominium property includes 115 units. Andrew Friedman and Jake Parker of Kiser represented both the seller, Barry Quadrangle Condominium Association, and the buyer, North Park Ventures. Under the Condominium Property Act in Illinois, condo unit owners can elect to sell a property if 75 percent or more are in agreement. The city of Chicago recently increased the required owner approval to 85 percent. Sellers then have the option to either move out of their units or lease them back from the new owner.
WINDSOR, N.Y. — Coldwell Banker Commercial has brokered the $6.6 million sale of a 65,800-square-foot industrial building that is situated on a 3.1-acre lot in Windsor, located just outside of Binghamton. The property was built in 1977 and includes 3,540 square feet of office space. Steven Shell of Coldwell Banker represented the undisclosed seller in the transaction. Additional terms of sale were not disclosed.
ATLANTA — JLL Capital Markets has arranged the $50 million sale of Restoration Hardware (RH) Atlanta, a 63,831-square-foot store in Atlanta’s Buckhead district leased on a long-term basis to Restoration Hardware. Jim Hamilton, Coler Yoakam, Brad Buchanan and Andrew Kahn of JLL represented the seller, a partnership between an affiliate of LaSalle’s Income & Growth value-add fund series, Ferncroft Capital, Redan Group and Blackmount Real Estate Partners. RH, a global lifestyle company, has occupied the five-story building since it was constructed in 2014. RH Atlanta is located on 1.6 acres at 3030 Peachtree Road across the street from Jamestown’s Buckhead Village District and near the Buckhead Theatre. The sale transaction included a land parcel with development rights.
WACO, TEXAS — CSD Realty has brokered the sale of a 438-unit self-storage facility located at 1620 La Salle Ave. in Waco. The facility spans 58,000 square feet. Craig Rice and Cole Rice of CSD Realty represented the seller, Unlimited Storage LLC, in the transaction. The duo also procured the buyer, Store Space Self Storage, a Florida-based investment firm.
TAMPA, FLA. — SRS Real Estate Partners’ National Net Lease Group has brokered the $3.8 million sale of Double Branch Plaza, an 8,996-square-foot, multi-tenant retail strip center located at 12856 W Hillsborough Ave. in Tampa. The property was completed in 2020 and is situated on 1.5 acres. Patrick Nutt and Will Wamble of SRS represented the seller, a Florida-based developer, in the sale. The buyer was a private investor that owns a portfolio of multi-tenant properties in the area. At the time of initial marketing, Double Branch Plaza’s tenant roster included Le Peep Café, Ocean Nail Salon and Tropical Smoothie Cafe. There was still one vacancy left to fill whose lease was negotiated during the due diligence period, according to SRS.