WICHITA, KAN. — Marcus & Millichap has brokered the sale of a 14,820-square-foot retail property occupied by Walgreens in Wichita for $5.1 million. The net-leased building is located at 13534 W. Maple St. Christopher Pappas and Michael Cardone of Marcus & Millichap represented the seller, a limited liability company. Michael Fusco, Michael Kook, Seth Glasser and Steven Siegel of Marcus & Millichap represented the buyer, a New York-based corporation completing a 1031 exchange.
TUCSON, ARIZ. — Cushman & Wakefield has arranged the sale of a last-mile distribution building located at 775 W. Silverlake Road in Tucson. A California family trust acquired the property from an East Coast investor for $22.3 million, or $451 per square foot. Situated on 10.7 acres, the 49,500-square-foot facility features 15 loading docks and close proximity to interstates 10 and 19, downtown Tucson and Tucson International Airport. At the time of sale, the property was fully leased to a Fortune 10 global e-commerce company. Andrew Bogardus and Douglas Longyear of Cushman & Wakefield San Francisco, in collaboration with Stephen Cohen of Cushman & Wakefield | Picor in Tucson, represented the seller in the transaction.
CHAPEL HILL, N.C. — CBRE has negotiated the $24.8 million sale of an 816-unit self-storage facility located at 12330 U.S.-15 501 North in Chapel Hill. Dallas-based Rosewood Property Co. purchased the 76,051-square-foot property from an entity doing business as Carolina Storage Partners LLC. CBRE’s Self Storage Advisory Group represented the seller in the transaction. Extra Space Storage operates the facility, which features climate-controlled units ranging in size from 20 to 300 square feet, as well as 67 wine storage units.
FLORENCE, KY. — The Cooper Commercial Investment Group has arranged the $6.1 million sale of Houston Commons, a shopping center in Florence that is shadow-anchored by Target. PetSmart anchors the center, which was 88 percent leased at the time of sale. The retailer recently executed an early extension at Houston Commons through 2035. An Illinois-based buyer purchased the center from the seller, a private investor. Both parties requested anonymity. Dan Cooper of Cooper Commercial represented the seller in the transaction.
WEST PALM BEACH, FLA. — SRS Real Estate Partners’ National Net Lease Group has brokered the $2.9 million ground-lease sale of a single-tenant retail property in West Palm Beach. Developed in 2022 at 65 Benoist Farms Road, the 2,866-square-foot property is occupied by Burger King and has a 20-year triple-net ground lease in place. Patrick Nutt and William Wamble of SRS represented the seller, Brightwork Development, in the sale. The buyer was a private investor based in South Florida.
PEMBROKE PINES, FLA. — Avison Young’s Florida Capital Markets Group has negotiated the $23 million sale of Pembroke Centre, a 29,350-square-foot strip retail center located at 304-306 SW 145th Ave. in Pembroke Pines, a city in South Florida’s Broward County. David Duckworth, Michael Fay, John Crotty and Brian de la Fé of Avison Young represented the seller, PP Omni Ventures, an affiliate of Hart Lyman Cos. that developed the property, in the transaction. Monolith Real Estate Property Management represented the buyer, an entity doing business as OMAX Invest LLC. Situated on four acres near I-75 and Pines Boulevard, Pembroke Centre was fully leased at the time of sale to Pubbelly Sushi, Firebirds Wood Fired Grill and Xfinity Store by Comcast. The property sits on an outparcel with a shared entrance to Shops at Pembroke Gardens, an open-air retail and entertainment destination.
RICHMOND, VA. — Berkadia has brokered the sale of Laurel Pines Apartments, a 120-unit, garden-style multifamily property located at 4123 E. Wood Harbor Court in Richmond. Drew White, Carter Wood and Cole Carns of Berkadia represented the seller, Colorado-based Four Mile Capital, in the transaction. The buyer, Colorado-based Highlands Vista Group, purchased the property for an undisclosed price. Matt Schildwachter of Berkadia’s Denver office arranged a 10-year, fixed-rate, Freddie Mac loan on behalf of Highlands Vista. Laurel Pines features one-, two- and three-bedroom floor plans with private patios or balconies. Community amenities include a swimming pool, clubhouse, fitness center, laundry facilities and a playground.
TREASURE ISLAND, FLA. — Marcus & Millichap has arranged the sale of Treasure Bay Resort & Marina, an 83-room hotel located at 11125 Gulf Blvd. in Treasure Island, part of the Tampa Bay metro area. Ben Mallah, a private investor, purchased the hotel for $18.2 million in an all-cash transaction. Ahmed Kabani and Kian McLean of Marcus & Millichap’s Miami office represented the seller in the deal. Treasure Bay Resort features a hurricane-resistant exterior, pool, Jacuzzi and a marina.
ST. PAUL, MINN. — Marcus & Millichap has brokered the sale of a multifamily portfolio in St. Paul for $2.2 million. The portfolio consists of twin 10-unit properties, both of which rise two stories and were constructed in 1949. Abe Roberts, Evan Miller and Chris Collins of Marcus & Millichap represented the seller and procured the buyer, neither of which were disclosed.
CARLSBAD, CALIF. — Wimatex has purchased an industrial property, located at 2271 Cosmos Court in Carlsbad, from an undisclosed seller for $21 million. At the time of sale, the freestanding building was fully leased to a global medical device and technology company in the sleep and respiratory market. The 85,165-square-foot building features heavy power, six dock-high loading doors, three grade-level loading doors, 24-foot to 26-foot clear heights and drive-around access. Additional features include a high-image exterior, large outdoor amenitized entrance and a two-story lobby. Aric Starck and Drew Dodds of Cushman & Wakefield Capital Markets San Diego represented the seller in the deal.
