Acquisition of the Week

Adevelopment of Derby LLC acquired the 170,683-s.f. Derby Shopping Center in Derby, Conn., for $15.35M. The property is a net-leased retail asset anchored by Lowe’s with a weighted average lease term (WALT) of 13 years. More

Bridge Logistics Properties acquired a 133,115-s.f. Class A distribution center at 10740 Banana Avenue in Fontana, Calif., within the Inland Empire. Valued at $25.5M, the property is fully leased through 2028 with in-place rents below market, providing near-term cash flow and potential NOI growth. More

Seattle-based property management firm Gibraltar sold The Exeter, a 14-story building with 115 apartment homes and 17,648 s.f. of commercial and office space, to a private family office for $25M. Built in 1927 as a luxury hotel and converted to market-rate multifamily housing in 2016, The Exeter is has been preserved by multiple owners for decades. More

A private New Jersey-based family acquired two fully leased, build-to-suit facilities totaling 107,850 s.f. from O’Connor Capital Partners for $49.47M. Both properties are leased to Tesla under net lease structures, with the tenant responsible for taxes, insurance and maintenance. More

Rocket Lister acquired a two-story, 46,804-s.f. office building at 4625 South Wendler Drive in Tempe from Batch Leads for $5.7M.  More

New York Life Real Estate Investors sold Centerstone Plaza, a 107,028-s.f. suburban office campus at 4000, 4010 and 4040 Barranca Parkway in Irvine to LCBC Development for $32M. More

In a joint-venture partnership, MRP Realty, Snell Properties and SJG Properties have acquired a 270,660-s.f. Class A office building in Washington, D.C., for an estimated $20.87M, according to the Washington Business Journal. MRP Realty will manage the asset. More

Situated in two of Houston’s most supply-constrained submarkets, the portfolio includes 44 units across seven buildings and is 87% occupied by a diverse mix of tenants. Together, the two properties — intended for light industrial use — total 193,819 s.f. of space and were acquired at a 42% discount to replacement cost.  More

Equality Community Housing Corporation sold Haverstock Hills Apartments, a 700-unit affordable housing community in Houston’s East Aldine neighborhood, to Fairstead for $242M. That amount includes acquisition and planned rehabilitation. More

Core Acquisitions, a Chicago-based commercial real estate owner, operator and developer, has acquired Green Bay Plaza, a 232,796-s.f. shopping center from Anenberg Asset Management of Newport Beach, Calif., for $25.35M. More

Promontory Development Group, a private developer in the Sacramento area, sold a newly constructed, single-tenant, net-leased ARCO ampm in Stockton to a private investor from Sonoma County, Calif., for $10.2M. More