FORT WORTH, TEXAS — Fort Worth-based Empire Holdings has sold five Texas industrial properties totaling 241,114 square feet. The properties range in size from 16,000 to 149,415 square feet and are located in Fort Worth, Houston, metro Austin and San Antonio. Philadelphia-based Arden Logistics Properties purchased the assets as part of a larger portfolio deal for an undisclosed price. Seth Koschak and Jeff Rein of Stream Realty Partners, along with Zach Harris and Jeff Hughes of Stan Johnson Co., brokered the deal.
PORT RICHEY, FLA. — Marcus & Millichap has brokered the $7.7 million sale of Harmony Plaza, an 82,820-square-foot shopping center located at 11932 U.S. Highway 19 in Port Richey. James Medefind, Jim Shiebler, James Garner and Jonathan Gerszberg of Marcus & Millichap represented the seller, a California-based private investor, in the transaction. A private investor purchased the property. Built in 1973 and located on a six-acre site, Harmony Plaza was 87 percent leased at the time of sale to tenants including Big Lots.
BRADENTON, FLA. — SRS Real Estate Partners’ National Net Lease Group has negotiated the $3.2 million ground-lease sale of a single-tenant retail property in Bradenton occupied by Fifth Third Bank. Built in 2007 and situated on about 1.1 acres, the 3,500-square-foot property is located at 6550 Cortez Road W. Patrick Nutt and William Wamble of SRS represented the seller, a California-based private investor, in the transaction. The buyer was Massachusetts-based Dorchester Avenue Holding LLC. Fifth Third Bank has more than 13 years remaining on its corporate-guaranteed lease, according to SRS.
NEW CITY, N.Y. — New Jersey-based development and investment firm KABR Group has acquired New City Shopping Center, a 125,110-square-foot property located north of New York City in Rockland County, for $30 million. KABR Group acquired the grocery-anchored center, which was 96 percent leased at the time of sale, in partnership with Long Island-based retail operator BTF. Jose Cruz, J.B. Bruno, Kevin O’Hearn, Michael Oliver, Steve Simonelli, Andrew Scandalios and Austin Pierce of JLL represented the undisclosed seller in the transaction.
GARDENA, CALIF. — Storm Properties has completed the disposition of Redondo Plaza, a grocery-anchored retail center located at 1550 W. Redondo Beach Blvd. in Gardena. A private 1031 exchange buyer acquired the asset for $15.1 million. Built in 2002 and renovated in 2018, Redondo Plaza features 28,000 square feet of retail space. Aldi anchors the property with 11.5 years remaining on its existing triple-net lease. At the time of sale, the property was fully occupied. Tenants include Domino’s Pizza, T-Mobile, Jackson Hewitt, Super Laundry and Crazy Rock’n Sushi. Gleb Lvovich, Daniel Tyner, Geoff Tranchina and Bryan Ley of JLL Retail Capital Markets Investment Sales and Advisory team represented the seller in the deal.
NOBLESVILLE, IND. — MDH Partners has acquired Washington Business Park 1, a 162,228-square-foot industrial building in the Indianapolis suburb of Noblesville. The purchase price was undisclosed. The property, which is 85 percent leased to four tenants, is situated within the 142-acre Washington Business Park. The building was constructed earlier this year. Houston Hawley served as the acquisition lead for Atlanta-based MDH. Bryan Poynter of Cushman & Wakefield represented MDH, while Ryan Baker of Cushman & Wakefield represented the undisclosed seller. The purchase of Washington Business Park 1 increases MDH’s Indiana footprint to more than 1.1 million square feet.
LYNCHBURG, VA. — Capstone Apartment Partners has arranged the $68.9 million sale of West Edge Apartments, a newly built, 270-unit multifamily community located on 22.7 acres in Lynchburg. Eric Liebich and Ron Corrao of Capstone arranged the off-market transaction between the undisclosed seller and the buyer, Gastonia, N.C.-based Southwood Realty. Delivered earlier this year by the unnamed developer, West Edge features one-, two- and three-bedroom layouts. Amenities include a swimming pool, a clubhouse/community center, fitness center and laundry facilities. West Edge was 96 percent occupied at the time of the sale.
NASHVILLE, TENN. — Walker & Dunlop has negotiated the sale of Park Central, a 200-unit apartment community located at 220 25th Ave. N in Nashville’s Midtown district. Russ Oldham of Walker & Dunlop represented the unnamed seller and the buyer, Houston-based Dinerstein Cos., in the transaction. The sales price was not disclosed. Built in 2013 a couple blocks north of Vanderbilt University, Park Central features studio, one- and two-bedroom apartments, as well as a clubroom, fitness center and a sky deck with a heated rooftop pool overlooking Centennial Park. The eight-story apartment community also includes an adjacent parking garage.
PORTLAND, ORE. — Fairfield Columbia Ridge LLC, an affiliate of San Diego-based Fairfield Residential, has completed the disposition of Columbia Ridge Apartments, a multifamily community in Northeast Portland. An undisclosed buyer acquired the asset for $36.2 million. Located at 15910 NE Sandy Blvd., the property comprises 35 two- and three-story buildings on 9.9 acres. Built in 1990, Columbia Ridge offers 144 two- and three-bedroom floor plans averaging 940 square feet. Units offer in-unit washers/dryers, private patios or balconies and walk-in closets. Community amenities include a fitness center, pool, resident clubhouse, three playgrounds and a basketball court. Josh McDonald, Joe Nydahl and Phil Oester of CBRE represented the seller in the deal.
TULSA, OKLA. — Denver-based investment firm VanWest Partners has acquired two self-storage facilities in Tulsa in off-market transactions. Combined, the facilities span more than 140,000 net rentable square feet across some 950 units, including outdoor parking/storage spaces. Both facilities were approximately 95 percent occupied at the time of sale. The seller and sales price were not disclosed. The new ownership is planning a capital improvement program that will include new gate and camera systems, door replacements and roof and asphalt upgrades.