AUSTIN, TEXAS — Newmark has arranged the sale of Barton Creek Villas, a 250-unit multifamily property in West Austin. Built in 1998, the property features one-, two- and three-bedroom floor plans with an average size of 1,049 square feet. Amenities include a pool, fitness center, clubhouse with a coffee bar, outdoor grilling stations, a dog park and walking trails. The Connor Group sold Barton Creek Villas, which was 99 percent occupied at the time of sale, to a fund backed by Goldman Sachs Asset Management for an undisclosed price. Patton Jones and Andrew Dickson of Newmark brokered the deal.
SHOEMAKERSVILLE, PA. — JLL has brokered the $54.5 million sale of a 310,238-square-foot warehouse and distribution center located in the Lehigh Valley community of Shoemakersville. Built on roughly 24 acres in 2022, the facility features a clear height of 36 feet, 40 loading doors, 185-foot truck court depths and parking for 81 trailers and 185 cars. John Plower, Ryan Cottone, Jeff Lockard and Ryan Barros of JLL represented the seller, a joint venture between The Keith Corp. and The Kiel Group, in the transaction. The buyer was not disclosed. At the time of sale, the facility was fully leased to online fashion retailer Revolve Group and Arcadian Crossing Consumer Products, which provides disposable tabletop and food storage solutions.
BRANFORD, CONN. — Locally based brokerage firm O,R&L Commercial has negotiated the $18.9 million sale of Shoreline Plaza, a 77,037-square-foot retail center in the southern coastal Connecticut city of Branford. Tenants include Coastal Wine & Spirits, Staples, Shoreline Prime Meats & Deli and InShape Fitness. Frank Hird of O,R&L Commercial represented the seller, A&A Properties, in the transaction, and procured the buyer, an entity doing business as Executive Two Hundred LLC.
TORONTO AND WASHINGTON, D.C. — Toronto-based commercial real estate services firm Avison Young has signed an agreement to acquire Washington, D.C.-based Madison Marquette’s office and industrial property management, agency leasing and project management service lines. The trio of services will operate under the Avison Young brand as part of the acquisition, which is expected to close in September. Financial terms of the deal were not disclosed. The acquisition includes more than 20 million square feet of affected real estate, as well as 235 team members, including property managers, agency leasing professionals, project managers, building engineers and accountants. The former Madison Marquette staffers will integrate with Avison Young’s existing markets, primarily in Texas and California, the East Coast region and a new Hawaii office. Avison Young will integrate its data analytics, technology and global real estate intelligence platform with Madison Marquette’s trophy assets and institutional clients, such as CenterPoint Energy, Starwood Property Trustand Principal Global Investors. “This is a transformative opportunity for both companies to build on their core strengths to achieve competitive advantage,” says Vince Costantini, CEO of Madison Marquette. “We made the strategic choice to move a portion of our services to Avison Young to better serve our office …
WASHINGTON, D.C. — Potomac, Md.-based Foulger-Pratt has sold a 1,752-unit self-storage facility located at 72 Florida Ave. in Washington, D.C. A partnership between Invesco Real Estate and Baranof Holdings purchased the facility for an undisclosed price. Steve Mellon, Brian Somoza, Craig Childs, Bill Prutting and Jay Wellschlager of JLL represented the seller in the transaction. Built in March 2020, the seven-story property operates under the Extra Space Storage brand and features a 1,000-square-foot office and 400 square feet of restrooms and bike storage. The facility offers electronic access control, 24-hour video surveillance, covered loading areas and two elevators to access the upper floors.
LAWRENCE, KAN. — Mission Hill Hospitality has acquired the Oread Hotel, a 102-room property adjacent to the University of Kansas in Lawrence. The purchase price and seller were undisclosed. Mission Hill will rebrand the asset as Oread Hotel, Tapestry Collection by Hilton. Tapestry-branded properties are uniquely designed to maintain an independent character from other hotels within the collection. Located at 1200 Oread Ave., the property features 15,000 square feet of meeting space, a full-service restaurant and bar, retail space, two outdoor terraces and a fitness center. The 10-story hotel was originally developed in 2010 with 99 hotel rooms and nine condominium units. Plans call for the conversion of three condo units into hotel suites. Additional improvements will be made to bathrooms, furnishings and public space. The transaction marks the 24th acquisition for Mission Hill since the company was launched in 2021. Mission Hill is a KSL Capital Partners portfolio company that is focused on select-service and extended-stay hotel investing.
CHESTERFIELD, VA. — American Landmark has purchased Element at Stonebridge, a 400-unit apartment community located at 301 Karl Linn Drive in Chesterfield, just south of Richmond. The seller and sales price were not disclosed. Built in 2016, Element at Stonebridge offers one- and two-bedroom floor plans ranging from 563 to 1,236 square feet. The apartments include designer wood cabinets, granite counters with deep sinks and chrome fixtures, full-size washers and dryers, plank flooring, walk-in closets and island kitchens in most units. Amenities include a saltwater pool, 24-hour fitness center, yoga studio, clubroom with billiards and TVs, outdoor game and TV lounge, courtyard with grills and firepit, 24-hour business center and community Wi-Fi. Element at Stonebridge marks American Landmark’s second acquisition in Virginia this year, following Boulders Lakeside Apartments in January, which is only an hour away from Element at Stonebridge.
SMYRNA, GA. — JLL Capital Markets has brokered the $18.5 million sale of Ivy Walk, a 42,499-square-foot neighborhood retail center located in the north Atlanta suburb of Smyrna. Brad Buchanan, Jim Hamilton and Andrew Kahn of JLL represented the seller, MRE Properties, in the transaction. The buyer was South Coast Commercial LLC. Ivy Walk was built in 2004 and was 91 percent leased at the time of sale to tenants such as Muss & Turner’s, South City Kitchen, First Watch, Natural Body Spa and Children’s Healthcare of Atlanta.
ANAHEIM, CALIF. — Faris Lee Investments has arranged the purchase of Anaheim Resort Centre, a retail investment opportunity located within the Disneyland Resort District in Anaheim. An Irvine-based family office acquired the asset from an undisclosed seller for $19.5 million. Located on the corner of Harbor Boulevard and Katella Avenue, Anaheim Resort Centre features 10,000 square feet of retail space that nine tenants fully occupy on a triple-net lease basis. Nick Miller and Shaun Riley of Faris Lee Investments represented the buyer in the transaction.
ALBUQUERQUE, N.M. — Kennedy Wilson has purchased Cantata at the Trails, a multifamily property in Albuquerque. Terms of the transaction, including the name of the seller and acquisition price, were not released. Constructed in 2013, the garden-style community features 260 apartments in a mix of one-, two- and three-bedroom layouts. Community amenities include a clubhouse, swimming pool, business center and fitness center, as well as communal grilling and lounging areas. Kennedy Wilson will immediately implement its management program, including physical improvements to the property and operational upgrades. The value-add strategy includes an investment in renovating unit interiors, refreshing common areas throughout the community and upgrading resident amenities to enhance the outdoor-oriented living environment at the property.