ROCKPORT, TEXAS — Self-storage brokerage firm Versal has arranged the sale of Stowaway Storage, a 309-unit facility in Rockport, located about 35 miles northeast of Corpus Christi in South Texas. The facility spans 34,626 net rentable square feet. Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of Versal represented the seller, Texas-based investment firm Curren Cos. Inc., in the transaction. The team also procured the undisclosed, Texas-based private buyer.
SAN ANTONIO — A partnership between boutique investment firm Trestle Studio, Colorado-based Sopris Capital and The Town Lake Co. has acquired the 308-room El Tropicano Hotel in San Antonio’s RiverWalk District. According to CultureMap San Antonio, the El Tropicano originally opened in 1962 as the district’s first purpose-built hotel but has been closed since 2020. Steve Leslie and Chris Dewey of JLL represented the undisclosed seller in the transaction. The new ownership did not disclose its plans for the historic property.
HOUSTON — Locally based development and investment firm Pagewood has purchased Costa Mesa, a 152-unit apartment complex in northwest Houston. The property consists of 12 two-story buildings that house one- and two-bedroom units that range in size from 614 to 1,044 square feet. Amenities include a pool, clubhouse, playground, business center and onsite laundry facilities. Amegy Bank provided acquisition financing for the deal. The seller and sales price were not disclosed. Pagewood plans to implement a value-add program.
JACKSON TOWNSHIP, N.J. — New Jersey-based investment firm Horizon Equities has purchased Jackson Health Village, a 150,000-square-foot medical office building in New Jersey’s Ocean County, for $24 million. The three-story building was built on 11.3 acres in 2014 and was 64 percent occupied at the time of sale. Jeremy Neuer, Jose Cruz, Dan Loughlin, Tom Stanton and Matt Loughlin of JLL represented the undisclosed seller in the transaction and procured Horizon Equities as the buyer.
CORPUS CHRISTI, TEXAS — Locally based brokerage firm Cravey Real Estate Services has arranged the sale of Buccaneer Apartments, a 342-unit multifamily community in Corpus Christi. The property spans 28.7 acres and offers one- and two-bedroom units. Lynann Pinkham of Cravey Real Estate represented the seller, Fuso Investment Inc., in the transaction. The buyer was an entity doing business as Buccaneer Redevelopment LLC. The sales price was not disclosed.
MANCHESTER, CONN. — Marcus & Millichap has brokered the $19.2 million sale of Manchester Parkade, a 302,000-square-foot shopping center located on the eastern outskirts of Hartford. Tenants at the center, which originally opened in 1962, include Dollar Tree, Planet Fitness, Kidzone and the State of Connecticut Department of Children’s Services. Jim Koury and Alex Quinn of Marcus & Millichap represented the seller, the estate of Leon Charney, in the transaction. The buyer was not disclosed. John Krueger of Marcus & Millichap assisted in closing the deal as the broker of record.
HILLSBORO, TEXAS — Marcus & Millichap has brokered the sale of Lock & Key Storage, a 228-unit facility that sits on a 10.2-acre site in Hillsboro, located roughly midway between Fort Worth and Waco. Danny Cunningham, Jon Danklefs, Brandon Karr, Dave Knobler and Mixson Staffel of Marcus & Millichap represented the seller in the transaction. The team also procured the buyer, a limited liability company. Both parties requested anonymity.
WILMINGTON, MASS. — CBRE has negotiated the $49.5 million sale of a 187,589-square-foot warehouse and distribution facility in Wilmington, a northern suburb of Boston. The property features clear heights of 24 to 30 feet and was fully leased at the time of sale. Scott Dragos, Chris Skeffington, Doug Jacoby, Roy Sandeman, Tim Mulhall, Tony Hayes and Dan Hines of CBRE represented the seller, locally based investment firm Marcus Partners, in the transaction. The buyer was a partnership between two Boston-based firms, Oliver Street Capital and Bain Capital Real Estate.
RIVERHEAD, N.Y. — Chicago-based Bradford Allen Hospitality has acquired two hotels totaling 245 rooms in the Long Island community of Riverhead. The 131-suite Residence Inn by Marriott was built in 2017 and is located at 2012 Old Country Road, and the 114-key Hilton Garden Inn was constructed in 2008 at 2038 Old Country Road. Both hotels offer pools and fitness centers. The undisclosed seller in the off-market deals was the original developer of both hotels. Bradford Allen will retain New Castle Hotels & Resorts to manage the properties.
FORT WORTH, TEXAS — Lee & Associates has brokered the sale of a 587,287-square-foot industrial property located at 5901 E. Rosedale St. in Fort Worth. The property consists of 31 buildings that were constructed between 1967 and 1974 and feature clear heights of 16 to 20 feet. The buildings vary in size but had less than 10 percent office finishes in each of them. Colton Rhodes of Lee & Associates represented the buyer, Boston-based investment firm Longpoint Realty Partners, in the transaction. The seller was an entity doing business as Rosedale Industrial Park LLC.