Sysco Corp., a food service distributor, has acquired a 169,960 sq. ft. warehouse distribution building and adjacent four-acre parcel in South Florida from IDI for $19.7 million. The property is located at IDI's Pompano Business Center in Pompano Beach. Tenant improvements are expected to be complete by the end of the year. Sysco Corp. was represented by DP Lewis & Associates.Developments International (IDI) represented itself in the transaction.
Hager Pacifichas acquired Tree Crest Apartments in metro Atlanta from a joint venture between Wilwat Properties and Collins Group LLC for $39 million. The 734-unit property includes one- and two-bedroom apartments and townhouses ranging from 550 sq. ft. to 1,354 sq. ft. The property is located in Decatur, a suburb of Atlanta, and encompasses approximately 65 acres. Amenities include a fitness center, swimming pool and spa, tennis courts, and two racquetball courts. Cushman & Wakefield represented the buyer and the seller.
Pacific Property Co. has acquired Glenbrook Apartments from Morgan Stanley Real Estate Advisors Inc. for $40 million. The 15-acre garden-style community in Riverside, Calif., includes 304 units. The property is scheduled for condominium conversion. Pacific Property Co. represented itself in the transaction.