WETUMPKA, ALA. — Russell Brands LLC has sold its former manufacturing facility in Wetumpka. An affiliate of Phoenix Investors acquired the 891,000-square-foot building for an undisclosed price. Prior to closing the plant in 2013, Russell Brands manufactured sports equipment and clothing at the site, marketing its products under many brands and subsidiaries, including Russell Athletic and Spalding. The property spans 102 acres and features 41-foot clear heights, 100 slots for trailer storage, 29 loading docks and five drive-in doors. Built between 1995 and 1997, the asset is situated at 3145 Elmore Road, 18 miles north of downtown Montgomery. Philip Yost of CBRE brokered the transaction of the vacant property.
KENNESAW, GA. — Vesper Holdings has purchased The Indy, a 543-bed student housing community near Kennesaw State University (KSU). Delivered earlier this year, the property offers one- to five-bedroom floor plans with bed-to-bath parity. Unit interiors feature granite countertops, stainless steel appliances, washers and dryers and 55-inch smart TVs. Communal amenities include a fitness center, rooftop lounges, clubhouse and a pool. The community is situated on 4.2 acres at 3011 Hidden Forest Court in Kennesaw, two miles from KSU’s campus. The seller and sales price were not disclosed.
PHOENIX — Newmark has brokered the sale of two multifamily properties, known as Ascent 1829 and Vicinity, in Phoenix for a total of $55 million. The name of the buyer was not released. Constructed in 1980, Ascent 1829 features 180 units with renovation efforts underway — 47 of the units have been fully updated with stainless steel appliances, vinyl wood plank flooring, painted gray cabinetry with hardware pulls, built-in microwave oven, modern plumbing fixtures and contemporary lighting. Vicinity Apartments, which was built in 1975, features 125 units spread across 10 buildings on 4.3 acres. Each of the buildings were recently renovated and feature wood frame construction, stucco exterior finishes and mansard tiled roofs. Brad Goff, Brett Polacheck and Chris Canter of Newmark handled the transactions.
CINCINNATI — Stan Johnson Co. has brokered the sale of a 134,000-square-foot industrial building in Cincinnati for approximately $29 million. Located at 3191 Railside Ave., the last-mile facility is fully leased to an undisclosed e-commerce company. The newly constructed facility sits on 22.5 acres. Craig Tomlinson and John Zimmerman of Stan Johnson represented the seller, Neyer Properties. EXAN Group represented the buyer, a discretionary Spanish commercial real estate group. The property is part of a larger tract of land that Neyer had acquired in recent years from the city.
HOUSTON, BEAUMONT AND LONGVIEW, TEXAS — Arkansas-based BSR REIT has sold four apartment communities in Texas as part of a five-property disposition that fetched a sales price of $86 million. The portfolio included Windsor Estates I and II, two apartment communities in Houston that were built in the early 2000s. Also included was The Pointe in Beaumont (built in 2004), and Willow Lake in Longview (built in 1977). The fifth property was located in Little Rock, Ark. The buyer and number of units at each community were not disclosed, but the total size of the portfolio was 890 units.
EASTON, MASS. — Markward Group has brokered the sale of an 83,320-square-foot industrial property in Easton, located on the southern outskirts of Boston. The property was built on 6.6 acres in 1990 and was leased to CADCo Distribution, which services the outdoor power equipment industry, at the time of sale. Matt Macdonald of Markward Group represented the seller, Asbeshaus Trust, which sold the asset to Congdon Investments for an undisclosed price.
AURORA, ILL. — Redwood Capital Group has acquired Hunter’s Glen, a 320-unit apartment community in Aurora. Redwood plans to renovate the majority of the units and implement extensive upgrades to most of the common areas as well as add a package room. Built in 1991, Hunter’s Glen consists of 16 buildings with a clubhouse, dog park, pool and fitness center. Units average 886 square feet. The acquisition was made in joint venture with an affiliate of Chicago-based Heitman. The seller and sales price were undisclosed.
LOS ANGELES — Sunstone Hotel Investors has completed the disposition of Renaissance Los Angeles Airport Hotel, located at 9620 Airport Blvd. in Los Angeles. An undisclosed buyer acquired the asset for $91.5 million, or approximately $182,300 per room. Located less than one mile from Los Angeles International Airport, the hotel features 502 guest rooms, a rooftop pool, fitness center, Studio 12 restaurant and 18,000 square feet of newly renovated event space.
BROOMFIELD, COLO. — Westcore has purchased an 11-building industrial complex at West Midway Boulevard and Burbanks Street in Broomfield. Commander Leasing LLC sold the asset for $48 million. Westcore plans to implement an extensive renovation and branding plan at the 509,164-square-foot campus. Renovations include a new paint scheme, parking lot upgrades and various other improvements. Tyler Carner, Jeremy Ballenger, Jim Bolt and Jessica Osternick of CBRE represented the seller, while Westcore was self-represented in the deal.
HAMPTON, VA. — Branch Properties has sold Mercury Plaza, a 98,066-square-foot shopping center in Hampton. Walmart Neighborhood Market and Marshalls anchor the center, which is situated at the intersection of West Mercury Boulevard and Power Plant Parkway, 21 miles north of downtown Norfolk in Virginia’s Hampton Roads region. Branch acquired the property in 2018 for $25 million and invested $2.6 million to build a new inline building next to Marshalls that is occupied by Rack Rooms Shoes and other shop tenants. The Atlanta-based seller also sold four outparcels in 2019 for $9.7 million. Fain Hicks, Margaret Jones, John Owendoff and Lane Breedlove of Cushman & Wakefield represented the seller in the transaction. The buyer and sales price were not disclosed.