HOUSTON — Locally based investment and development firm Triten Real Estate Partners has purchased three industrial outdoor storage sites totaling 53.3 acres in Houston. The sites at 3004 Aldine Bender Road and 3434 Greens Road are both located on the city’s north side and total 35.3 acres and 6.8 acres, respectively. The third property, which is located at 15005 Crosby Freeway in northeast Houston, spans 11.2 acres. Triten acquired the properties, all of which house existing structures and have the capacity to support truck parking operations, in three separate, off-market transactions. The sellers and sales prices were not disclosed.
CARNEYS POINT, N.J. — An affiliate of regional investment firm D2 Organization has acquired a 48-acre industrial development site in Carneys Point, about 30 miles south of Philadelphia. The site, which was formerly known as Salem Business Center, comprises three vacant parcels totaling 35 acres, a 10-acre tract that houses a 78,000-square-foot building and an adjacent three-acre outparcel. Prior to closing, D2 Organization fully entitled the vacant land for the development of three buildings totaling 586,000 square feet. American Dream Realty represented D2 Organization in the land acquisition. The seller was The Delaware River & Bay Authority.
CHARLOTTE, N.C. — Northmarq has arranged the sale of Ascent Uptown, a 33-story apartment community comprising 300 units in Uptown Charlotte. Located at 225 S. Poplar St., the property features a rooftop pool, sky lounge, penthouse lounge with bar, private massage room, fitness center and a pet spa and grooming salon. Allan Lynch, Andrea Howard, Caylor Mark, John Currin and Jeff Glenn of Northmarq arranged the sale on behalf of the seller, Charleston-based Greystar, which delivered the high-rise in 2017. Faron Thompson, David Vinson, Grant Harris and Jeff Erxleben of Northmarq secured acquisition financing for the property on behalf of the undisclosed borrower. The sales price and financing amount were not disclosed.
PENSACOLA, FLA. — Cullinan Properties has acquired Tradewinds Shopping Center, a retail center located in Pensacola, for $25 million. Totaling 178,000 square feet, the property was 95 percent leased at the time of sale to tenants including T.J. Maxx/HomeGoods, Jo-Ann Fabrics and Shoe Station. The seller was not disclosed.
KANSAS CITY, MO. — Kansas City-based Grayson Capital has acquired Monument Healthcare Development. Financial terms of the transaction were undisclosed. Monument, now a wholly owned subsidiary of Grayson, was previously a wholly owned subsidiary of Nuterra Capital. Monument and Grayson plan to retain their individual identities and clients, but will combine their efforts to expand their offerings in multifamily and healthcare real estate development. Founded in April 2022, Grayson is a development firm specializing in transit-oriented multifamily projects and public-private partnerships. Leawood, Kan.-based Monument was founded in 2005 and builds healthcare facilities across the Midwest and Northeast.
WEST COVINA, CALIF. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of South Hills Apartments, a multifamily community in West Covina. NexGen Properties Group sold the asset to HFH Ltd. for $38.2 million, or $450,000 per unit. South Hills Apartments features 85 residential units with vaulted ceilings, washers/dryers and a patio or balcony. Built in 1966 and remodeled in 2019, the community features a swimming pool, spa, fitness center and outdoor kitchen with barbecue grills. Kevin Green, Joseph Grabiec and Greg Harris of IPA, along with Marcus & Millichap’s Tyler Leeson, Mathew Kupp and Nick Kazemi, represented the seller and procured the buyer in the deal.
PUYALLUP, WASH. — Los Angeles-based Hyperion Realty Capital, formerly known as Portal Investment Management, has purchased Meridian Place Shopping Center in Puyallup. Terms of the transaction were not released. Built in 1979, Meridian Place offers 127,429 square feet of retail space. Current tenants include Grocery Outlet and Michaels. Sean Tufts and Kevin Adatto of CPX handled the deal.
NORMAN, OKLA. — Marcus & Millichap has arranged the sale of Cambridge Mini Storage, a 754-unit self-storage facility in Norman, located south of Oklahoma City. The facility totals 87,700 net rentable square feet. Bryan Quaschnick, Brandon Karr and Danny Cunningham of Marcus & Millichap represented the locally based seller in the transaction and procured a Dallas-based private partnership as the buyer. Both parties requested anonymity.
BOSTON — CBRE has arranged the $514 million sale of a portfolio of 65 hotels totaling 7,865 rooms. The portfolio spans 27 states and numerous operating brands, including 14 Sonesta Simply Suites, 32 Sonesta ES Suites and 19 Sonesta Select hotels. The Midwest represents the largest segment of the portfolio with 20 hotels totaling 2,374 rooms, and the Northeast is second with 18 hotels totaling 2,347 rooms. Massachusetts-based REIT Service Properties Trust sold the assets to 21 separate buyers that mostly consist of family offices and private equity firms. Al Calhoun and Mark Fair of CBRE brokered the deal.
HINESVILLE, GA. — Marcus & Millichap has brokered the $10.3 million sale of Hinesville Central, a 41,800-square-foot retail center located at 755 Oglethorpe Highway in Hinesville. The property is shadow-anchored by a Walmart Supercenter. Al Taf of Marcus & Millichap’s Atlanta office represented the seller, a 104-year-old private company based in Georgia, in the transaction. Brian Munn, also with Marcus & Millichap’s Atlanta office, procured the buyer, a private investor. Both parties requested anonymity. Hinesville Central’s tenant roster includes Hibbett Sporting Goods, Kay Jewelers, GameStop, Bath & Body Works, Shoe Show, Luxor Nails, Hong Kong Restaurant, 1st Franklin Financial Corp., High Life Tobacco and Vape, General Nutrition Corp., Surcheros, Polar Sweets and Golden Beauty Supply.