ARLINGTON, TEXAS — Marcus & Millichap has arranged the sale of Crowley Business Park, an 18,400-square-foot industrial complex in Arlington. The property was built on 0.9 acres in 1980. Adam Abushagur and Cliff Zimmerman of Marcus & Millichap represented the seller, and procured the buyer, both of which were private investors that requested anonymity.
WEST LAFAYETTE, IND. — Muinzer, together with T2 Capital Management, has acquired a 50 percent stake in the ownership of Chauncey Hill Mall and Chauncey Hill Annex in West Lafayette. Trinitas Ventures was the seller. The purchase price was undisclosed. The properties are located next to Purdue University. The acquisition makes Muinzer the largest residential, retail and land owner near the university, according to the company.
SAN DIEGO — Rexford Industrial has acquired a two-building industrial property in San Diego’s Miramar submarket for $7.8 million. Totaling 46,620 square feet, the buildings are located at 8745-8775 Production Ave. Rexford plans to implement significant exterior and interior improvements to the buildings. Evan McDonald of Colliers International represented the buyer. The seller was an undisclosed private individual.
LOS ANGELES — Marcus & Millichap has arranged the acquisition of a multifamily property located at 430 S. Union Ave. in the Westlake neighborhood of Los Angeles. A private limited liability company acquired the building for $4.3 million, or $142,500 per unit. Constructed in 1926, the building features 30 one-bedroom apartments. Rick Raymundo of Marcus & Millichap Los Angeles represented the buyer, while the Kinyan Realty represented the undisclosed seller in the deal.
TUCSON, ARIZ. — Benson-DBS LLC has purchased a retail building located at 67880 N. Sandario Road in Tucson. Damco Arizona Properties sold the asset for $1.8 million. Dollar General occupies the property. Dave Hammock of Cushman & Wakefield | PICOR represented the buyer in the deal.
PARSIPPANY, N.J. — The Kislak Company Inc. has brokered the $4.3 sale of Colony Plaza, a 40,000-square-foot office and retail property in Parsippany, a northwestern suburb of New York City. The site is located on a 3.2-acre site at 1180-1220 Route 46 near State Routes 10 and 287 and currently houses three buildings. Tom Scatuorchio and Matt Weilheimer of Kislak represented the seller, a private investor, in the transaction. The buyer was undisclosed.
MEMPHIS, TENN. — Gelt Inc. has acquired eight self-storage properties comprising 3,867 units in metro Memphis for $41 million. The portfolio, which totals 490,187 square feet, was 91 percent leased at the time of sale. There are five facilities in Memphis; two in Olive Branch, Miss.; and one in Nesbit, Miss. The single-story properties were built between 1972 and 2006 and feature a mix of drive-up, indoor and climate-controlled units. Portfolio-wide, the unit sizes range from 5 square feet to 430 square feet and average 141 square feet. Citizen Storage will manage all eight properties. Luke Elliott and Michael Mele of Cushman & Wakefield represented the seller, Merit Hill Capital, in the transaction.
ATLANTA — JLL has negotiated the sale of Marquis at Briarcliff, a 104-unit apartment complex in Atlanta’s North Druid Hills submarket. The property, which built in 1995, offers one-, two- and three-bedroom floor plans. Communal amenities include a 24-hour fitness center, pool, grilling areas and a dog park. The buyer, Chicago-based Oak Residential Partners LLC, plans to upgrade unit interiors, exteriors, amenities and landscaping. The buyer also changed the property name to One K Apartments. The community is located at 1000 Gables Way, eight miles northeast of downtown Atlanta. JLL represented the seller, CWS Capital Partners LLC, in the transaction and procured the buyer. The sales price was not disclosed.
CHANDLER, ARIZ. — Westcore has purchased an industrial warehouse situated on 16.5 acres at 2550 N. Nevada St. in Chandler. Greenlaw sold the property for $38 million. At the time of acquisition, the 164,486-square-foot, Class A facility was fully leased to a global e-commerce company. The secured warehouse distribution building, which was extensively renovated, features 30-foot clear heights, extensive power, ESFR sprinklers, ample loading and newly designed and constructed office space. Jeff Chiate, Will Strong and Mike Adey of Cushman & Wakefield, with support from Steve Larsen of JLL, represented the seller, while Westcore was self-represented in the deal.
CONCORD, N.C. — TSCG has negotiated the $7.1 million sale of The Shops at Christenbury, an 11,350-square-foot retail property in Concord. The asset was fully leased at the time of sale to tenants including Aspen Dental, First Watch, Atrium Health and Brownlee Jewelers. A Kohl’s store, McDonald’s outparcel and an Andy’s Frozen Custard outparcel sit on the property but were not part of the sale. The seller, Thompson Thrift Development, delivered the property in 2019. The Shops at Christenbury is located at 8825 Christenbury Parkway, 15 miles north of downtown Charlotte. Anthony Blanco of TSCG represented the Indianapolis-based seller in the transaction. Erin Patton of Marcus & Millichap represented the buyer, an affiliate of Ohio-based Deville Developments.