REBusinessOnline

Hudson Capital Properties Acquires Apartment Community in Raleigh-Durham Area for $55M

CARY, N.C. — Hudson Capital Properties has acquired Cornerstone, a 302-unit apartment community in Cary, for $55 million. Hudson Capital plans to renovate all 302 studio- and townhome-style units and improve the property’s amenity offerings. Cornerstone is located about 17 miles west of Raleigh and about 16 miles south of Durham. The seller was

Artesia Real Estate Sells Apartment Complex in Metro Raleigh for $19.6M

GARNER, N.C. — Artesia Real Estate has sold Greenbrier, a 223-unit apartment complex in Garner, to EBEX Holdings and FriedLam Partners for $19.6 million. Greenbrier, located about six miles south of Raleigh, offers studio, one- and two-bedroom floor plans. Amenities include a pool, playground and extra storage. Watson Bryant, Paul Marley and Brooks Colquitt of Cushman & Wakefield represented the

FourPoint Brokers Sale of 328-Bed Student Housing Community Near Wake Forest University

WINSTON-SALEM, N.C. — FourPoint Student Housing Investments has arranged the sale of Deacon Place, a 328-bed student housing community located near Wake Forest University in Winston-Salem. The property opened in 2017 and offers suite- and townhome-style units. Community amenities include a resort-style swimming pool, fitness center, study lounge and a putting green. Chris Epp, Chris Bancroft, Meredith Wolff and Craig Miller of FourPoint arranged the sale on behalf of the seller, Signet Real …

Logistics Property Co. Buys 252-Acre Industrial Park in Metro Dallas

WILMER, TEXAS — Chicago-based Logistics Property Co. LLC (LPC) has purchased Southport Logistics Park, a 252-acre industrial park located in the southern Dallas suburb of Wilmer. The site, which is located one mile from Interstate 45 and the Union Pacific Intermodal, currently houses 1.5 million square feet across two buildings. LPC intends to expand the park to ultimately feature more than 8.6 million square feet of Class A space. CBRE will market the project for

Greysteel Arranges Sale of 54-Unit Apartment Community in Fort Worth

FORT WORTH, TEXAS — Greysteel has arranged the sale of Ridglea Square Apartments, a 54-unit multifamily community in Fort Worth. The property was built in 1960 and is located near Texas Christian University, the Fort Worth Botanical Gardens and Fort Worth Zoo. Doug Banerjee, Boyan Radic, Andrew Mueller, Andrew Hanson, Scott Simon, Jack Stone and Moises Maldonado of Greysteel represented the seller and procured the buyer in the transaction. Both parties requested

NAI Mertz Brokers Sale of 84,400 SF Industrial Facility in Philadelphia

PHILADELPHIA — NAI Mertz has brokered the sale of an 84,400-square-foot industrial facility in Philadelphia. The sales price was undisclosed. Located at 3601 Island Ave., the property features six-inch reinforced concrete floors, six tailgates, 14 covered van-high loading positions and ceiling heights ranging from 15 to 23 feet. Jonathan Klear of NAI Mertz represented the buyer, seafood supplier Ocean Kingdom Inc., in the transaction. The seller was undisclosed. Ocean Kingdom will utilize a …

Thor Equities Sells 7,900 SF Retail Property in Brooklyn

NEW YORK CITY — Thor Equities has sold a 7,900-square-foot retail property in Brooklyn. The sales price was undisclosed. Located at 1221 Ave. J in the Midwood neighborhood of Brooklyn, the three-story property includes more than 135 feet of frontage on Avenue J and East 13th Street. Thor Equities acquired the building in 2014 and secured a long-term lease with Capital One for the entire

Marcus & Millichap Negotiates $2M Sale of Retail Property in New Jersey

WYCKOFF, N.J. — Marcus & Millichap has negotiated the $2 million sale of a retail property in Wyckoff. The 10,290-square-foot property is located at 403 Goffle Road. Alan Cafiero, Ben Sgambati and John Moroz of Marcus & Millichap represented the seller, a private investor, in the transaction. Fahri Ozturk of Marcus & Millichap represented the buyer, a limited liability

Pebblebrook Hotel Trust Sells Grand Hotel Minneapolis for $30M

MINNEAPOLIS — Pebblebrook Hotel Trust (NYSE: PEB) has sold the 140-room Grand Hotel Minneapolis for $30 million. The sale includes the hotel and its 57,000-square-foot fitness center, which is leased to a third-party tenant until June 2019. Proceeds from the sale will be utilized for general business purposes, which may include reducing the company’s outstanding debt, according to Pebblebrook. Kimpton Hotels & Restaurants, part of the Intercontinental Hotels Group umbrella, operates the …

World Wide Technology Purchases 207,503 SF Industrial Building Near St. Louis

MARYLAND HEIGHTS, MO. — World Wide Technology Inc. has purchased a 207,503-square-foot industrial building in Maryland Heights for an undisclosed price. The global IT services company has occupied space within the multi-tenant building since 2011. The building, located at 687 Fee Fee Road, is adjacent to the company’s suburban St. Louis campus and less than one mile from its newly built headquarters. The building’s other tenant, Cowley Distributing Inc., is a book and magazine distributor …

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