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Inland Real Estate Buys 267-Unit Apartment Complex in Lakewood, Colorado

LAKEWOOD, COLO. — Inland Real Estate Acquisitions has purchased the 267-unit Union West Apartments in Lakewood for a reported $81 million. The community is located at 35 Van Gordon St., six blocks from the RTD West Light Rail Line. The mid-rise property contains 20 studios, 141 one-bedroom, 90 two-bedroom and 16 three-bedroom units. Union West also offers a garage with 402 covered parking spaces and 18 open spaces. Units include gourmet kitchens, quartz countertops, stainless steel..

January 18, 2018

TerraCRG Arranges $6.3M Sale of Two Multifamily Buildings in Brooklyn

NEW YORK CITY — TerraCRG has brokered the sale of two multifamily buildings located at 460-464 Prospect Ave. in Brooklyn’s Prospect Park. An undisclosed buyer acquired the assets for $6.3 million. Adam Hess, Eddie Setton and Aaron Birns of TerraCRG facilitated the transaction. Totaling 15,120 square feet, the property features 16 two-bedroom apartments, with nine rent-stabilized and seven free-market units.

January 18, 2018

Trumbull Developers Acquires 78,692 SF Office Building in Trumbull, Connecticut, for $4.5M

TRUMBULL, CONN. — Trumbull Developers has purchased an office building located on 10.7 acres at 100 Oakview Drive in Trumbull. Canon USA sold the 78,692-square-foot property for $4.5 million. The buyer plans to demolish the existing building and develop a six-building residential community featuring 202 apartments. Tim McMahon and Rich Lee of O,R&L Commercial represented the seller and procured the buyer in the deal.

January 18, 2018

Manitowoc Co. to Relocate Headquarters to Northwest Milwaukee

MILWAUKEE — The Manitowoc Co. has signed a 16,266-square-foot office lease at One Park Plaza in Milwaukee for its corporate headquarters. The global manufacturer of cranes and lifting solutions for the construction industry will occupy the space within the Park Place office park by the end of the first quarter. The 199,326-square-foot office building is one of the 24 buildings that make up the office park. The move will allow the company better access to infrastructure and a larger talent..

January 18, 2018

Hamilton Zanze Buys 364-Unit Apartment Community in Colorado Springs for $71M

COLORADO SPRINGS, COLO. — Hamilton Zanze has purchased the 364-unit Bella Springs apartments in Colorado Springs for $71 million. The community is located at 1050 Milano Point in the northern part of the city. The garden-style asset was built in 2001. It offers a mix of one-, two- and three-bedroom floor plans with an average apartment size of 855 square feet. On-site amenities include covered parking, two swimming pools, a fitness center and clubhouse/coffee lounge. CBRE’s Dan..

January 17, 2018

Westcore Buys Cold Storage Facility in California for $12.7M

PLEASANTON, CALIF. — Westcore Properties has purchased a 98,000-square-foot cold storage facility in Pleasanton for $12.7 million. The facility is located at 5675 Sunol Blvd. Westcore will invest in upgrades throughout the Pleasanton property, including refurbishing the office space interiors and improving buildings systems, prior to leasing efforts. The firm acquired another East Bay property in Antioch in late 2017. Mike Quint of Jackson & Cooksey and Mark Pleis of Lee &..

January 17, 2018

TREK Brokers Sale of 8,200 SF Retail Center in North Austin

AUSTIN, TEXAS — TREK Investment Group has brokered the sale of Tech Ridge Center, an 8,200-square-foot retail center in north Austin. Built in 2017, the Class A center was 100 percent leased at the time of sale to Orangetheory Fitness, Smoothie King and Mattress One. Parker Carroll of TREK represented the undisclosed buyer in the transaction. Other terms of sale were not released.  

January 17, 2018

Prestige Properties Purchases 426,436 SF Shopping Center in Mount Laurel, New Jersey, for $130M

MOUNT LAUREL, N.J. — New York City-based Prestige Properties has acquired Centerton Square, a shopping center located at 2 Centerton Road in Mount Laurel. Black Creek Diversified Property Fund sold the property for $130 million. Wegmans anchors the 426,436-square-foot regional shopping destination. At the time of sale, the property was fully leased to more than 40 tenants, including DSW Shoes, TJ Maxx, Bed Bath & Beyond and Burlington, which is slated to open soon.

January 17, 2018

Investment Properties Arranges $14M Sale of Retail Building in Naples

NAPLES, FLA. — Investment Properties Corp. has arranged the $14 million sale of a retail building located at 990 1st Ave. N. in Naples. Hoffman Commercial Real Estate acquired the 11,560-square-foot building from NRE Design Park LLC. David Stevens of Investment Properties Corp. arranged the transaction.

January 17, 2018

Security Properties, Oaktree Capital Management Buy 300-Unit Apartment Complex in Colorado for $46.5M

FEDERAL HEIGHTS, COLO. — A joint venture between Security Properties and Oaktree Capital Management has purchased The Lodge on 84th, a 300-unit apartment complex in Federal Heights, for $46.5 million. The community is located at 1327 W. 84th Ave. The Lodge is situated within the northern suburbs of Denver, between the Westminster and Thornton submarkets. The Class B, garden-style community was built in 1973. The property’s units are spread out across 25 residential buildings and 11..

January 16, 2018