The three-property portfolio transaction included the $5.3-million sale of Ausonia Apartments, a 26-unit multifamily property with two commercial units located at 501-505 Raritan Avenue in Highland Park, located in Middlesex County NJ.

The property offers 84,000 SF of buildable space and is currently home to a Shell station, whose lease expires in September 2021.

Investment opportunities don’t come around often, especially in the case of Tupelo Alley, a mixed-use site on 1.44 acres at 3850 N. Mississippi Ave., the retail hub of the Boise-Elliot neighborhood.

Phoenix net lease investment totaled $1.7 billion in 2018, thanks in large part to an influx of California capital.