EAST ORANGE, N.J. — Hudson Atlantic Realty has arranged the $15.6 million sale of a portfolio of four multifamily properties totaling 96 units in the Northern New Jersey community of East Orange. The sales price equates to $162,500 per unit. All four properties are located near the city’s downtown area and recently received renovations to their unit interiors, including new floors, upgraded kitchens and onsite laundry facilities. The buyer and seller were not disclosed.
PASADENA, CALIF. — CBRE has brokered the sale of Tiffany and Shops, a 28,421-square-foot street-front retail property in Pasadena. Los Angeles-based Blatteis & Schnur and Hayward-based The Felson Cos. acquired the asset for $52.2 million, or approximately $1,838 per square foot. Jimmy Slusher, Philip Voorhees and Trent Steeves of CBRE’s National Retail Partners – West represented the seller, a partnership managed by Los Angeles-based Rockwood Capital, in the transaction. Slusher, Voorhees and Steeves also represented the buyer. Tiffany & Co., Crate & Barrel and House of Hoops anchor the property under corporate-guaranteed leases. The asset is located at 64-68 Colorado Blvd.
TUCSON, ARIZ. — Phoenix Commercial Advisors has arranged the sale of Paloma Village Center, a retail property located within the Catalina Foothills in Tucson. The asset traded for $18.4 million, or $480 per square foot. The names of the seller and buyer were not released. Situated on the 4.5 acres on the southeast corner of Campbell Avenue and Skyline Drive, the 38,347-square-foot property was 94 percent occupied at the time of sale. Current tenants include Starbucks Coffee, CVS/pharmacy and Fleming’s Steakhouse. Chad Tiedeman and Danny Gardiner of Phoenix Commercial Advisors represented the seller in the transaction.
VISTA, CALIF. — Lee & Associates has arranged the sale-leaseback of an industrial asset located at 1280 N. Melrose Drive in Vista. Exeter Property Group acquired the property from an undisclosed seller for $11.5 million. Built in 1982, the 45,214-square-foot property features 12 dock-high doors, two grade-level doors, heavy power and 20-foot clear heights. Rusty Williams, Chris Roth and Jake Rubendall of Lee & Associates – North San Diego County’s Williams Roth Group represented the buyer. Jim Benson of Kidder Mathews represented the seller in the transaction.
BAKERSFIELD, CALIF. — Faris Lee Investments has brokered the sale of a single-tenant retail property located at 1725 Golden State Ave. in Bakersfield. A Southern California-based private investor sold the asset to an undisclosed buyer for $10.8 million. Grocery store Smart & Final occupies the 26,237-square-foot building on a long-term, absolute triple-net lease basis with rental increases. Sean Cox and Alex Moore of Faris Lee represented the seller in the deal.
NASHVILLE, TENN. — Propst Development and Chartwell Hospitality have completed construction of the Conrad Nashville, Hilton International’s first luxury hotel in the city. Located at 1620 West End Ave. in the Midtown neighborhood, the 234-room property is slated to open to the public at the end of June. In addition to completing the hotel, the co-developers sold the asset to Northwood Investors, a Denver-based private equity investor with $8 billion in assets under management. The price was not disclosed. The Conrad Nashville features more than 11,000 square feet of meeting space, an outdoor terrace pool on the third floor, the Blue Aster restaurant and Thistle and Rye whiskey bar. Other amenities include a fitness center, business center, pet-friendly rooms, a concierge and complimentary Wi-Fi. According to the property website, prices for a suite with one king bed range from $285 per night during the week to $529 on the weekends. Prices for a suite with two queen beds range from $285 during the week to $636 on the weekends. The Conrad Nashville will employ more than 200 people once it’s fully operational, according to Bill Propst, chairman of Propst Development’s parent company, Propst Cos. The hotel anchors the $540 million …
PLANO, TEXAS — Newmark has negotiated the sale of HQ53, a 248,661-square-foot office building in Plano’s Legacy submarket that is fully leased to third-party hotel management firm Aimbridge Hospitality. The five-story building was constructed in 2021 and offers a fitness center, conference facility and a tenant lounge. Chris Murphy, Gary Carr, Robert Hill and Chase Tagen of Newmark represented the seller, locally based developer Cawley Partners, in the transaction. San Francisco-based Drawbridge Realty purchased HQ53 for an undisclosed price.
CARY, N.C. — Northwood Retail, a shopping center owner and management firm based in Dallas, has sold Waverly Place, a 190,000-square-foot shopping center in the Raleigh suburb of Cary. The sales price was not disclosed, but the Triangle Business Journal reported that the property traded for $88 million. Hines Global Income Trust, a non-listed REIT sponsored by Houston-based Hines, purchased the property. Whole Foods Market anchors Waverly Place, which houses a Cinebistro and 16,000 square feet of office space. Other notable retail tenants include Shake Shack, Drybar and CorePower Yoga. Waverly Place is the first acquisition in Raleigh-Durham for Hines Global Income Trust.
NEW ORLEANS — The Howard Hughes Corp. has sold the Outlet Collection at Riverwalk, an outlet mall near the Port of New Orleans. An entity doing business as Rockstep Riverwalk LLC purchased the property for $34 million. Outlet Collection at Riverwalk spans 264,000 square feet of open-air retail space and houses retailers such as Calvin Klein, Carter’s, Crocs, Gap Facory, Kate Spade, Levi’s, Nordstrom Rack, Polo Ralph Lauren, Samsonite, Tommy Bahama Outlet and Under Armour. Food-and-beverage tenants include Auntie Anne’s, Café Du Monde, Fat Tuesday, Green Leaf’s, Häagen-Dazs, Mandarin Express, Raising Cane’s, Smoothie King and Villa Italian Kitchen. Tom Salanty of NAI Robert Lynn represented Howard Hughes Corp., a publicly traded real estate owner and developer based in Houston, in the transaction.
BOSTON — Atlantic Capital Partners, a division of brokerage firm Atlantic Retail, has arranged the $32.8 million sale of The Shops at Riverwood, a 78,484-square-foot retail center in Boston’s Hyde Park neighborhood. Developed in phases by Finard Properties, the center was fully leased at the time of sale to tenants such as Burger King, Starbucks, Boston Medical and Planet Fitness. Justin Smith, Chris Peterson, Sam Koonce, Cole Van Gelder and Ben Starr of Atlantic Capital Partners represented the buyer, Urban Edge Properties, and the seller in the transaction.