Acquisitions

Lee & Associates Arranges Sale of 320-Unit SkyHouse South Apartment Tower in Midtown Atlanta

by Julia Sanders July 8, 2021

ATLANTA — Lee & Associates arranged the sale of SkyHouse South, a 23-story high-rise apartment tower located at 100 6th St. in Atlanta. Allen Eager of Lee & Associates’ Atlanta office represented the buyer, Equity Residential, in the off-market transaction. Equity Residential purchased the property from a partnership between the developers, Novare Group and Batson-Cook Development Co. The sales price was not disclosed. Skyhouse South features 320 studio, one-, two- and three-bedroom units. Community amenities include a lounge on the 23rd floor, a rooftop pool and a 24-hour gym. The Midtown Atlanta property is located 0.5 miles away from the MARTA Midtown Transit Station and 13 miles away from Hartsfield-Jackson Atlanta International Airport.

July 8, 2021

Acquisitions Alabama Multifamily Southeast

Steadfast Apartment REIT Acquires Station at Town Madison Apartments in Huntsville

by Julia Sanders July 8, 2021

HUNTSVILLE, ALA. — Steadfast Apartment REIT has acquired The Station at Town Madison, a 274-unit apartment community located in Huntsville. Jimmy Adams and Craig Hey of Cushman & Wakefield represented the seller, Tynes Development, in the transaction. The sales price was not disclosed. Built in 2020, Station at Town Madison is located off Interstate 565 and within the 563-acre Town Madison development, which features Toyota Field, home ballpark of the Huntsville’s Minor League Baseball team called the Rocket City Trash Pandas. Community amenities include a saltwater pool, outdoor lounge with a fire pit and grilling area, electric car charging stations, 24/7 Amazon Hub lockers, cybercafe, 24/7 fitness center and wellness studio, private garages and a bark park with a pet spa.

July 8, 2021

Acquisitions Industrial Office Texas

West Star Arranges Sale of 305,000 SF Airport Commerce Park in Metro Houston

by Taylor Williams July 8, 2021

HUMBLE, TEXAS — Montgomery, Texas-based brokerage firm West Star Marketing Group has arranged the sale of Airport Commerce Park, a 305,000-square-foot office flex property in the northern Houston suburb of Humble. The property is situated on 16.3 acres at 5950 Sam Houston Parkway. Fort Worth-based Fort Acquisitions purchased the property from Houston-based Redhorn Capital for an undisclosed price. Tom Clarkson of West Star brokered the deal.

July 8, 2021

Acquisitions Retail Texas

Continental Realty Buys South Plains Crossing Retail Center in Lubbock for $18.2M

by Taylor Williams July 8, 2021

LUBBOCK, TEXAS — Baltimore-based Continental Realty Corp. (CRC) has purchased South Plains Crossing, a 144,241-square-foot retail center in Lubbock, for $18.2 million. Anchor tenants at the property, which was built on 12 acres in 1996, include Hobby Lobby (70,000 square feet), alcoholic beverage providers Spec’s Wine, Spirits & Finer Foods (33,000 square feet) and Vision Mart (10,000 square feet). The seller was a partnership between Atlanta-based RCG Ventures, LLC and New York City-based DRA Advisors LLC. South Plains Crossing was 94 percent leased to 11 tenants at the time of sale.

July 8, 2021

Acquisitions Industrial Office Texas

Bradford Negotiates Sale of 73,600 SF Parkway Business Center in Grand Prairie, Texas

by Taylor Williams July 8, 2021

GRAND PRAIRIE, TEXAS — Bradford Commercial Real Estate Services has negotiated the sale of Parkway Business Center, a 73,600-square-foot flex property in Grand Prairie. Shane Benner and Josh Meraz of Bradford represented the seller, a California-based entity doing business as WC Parkway Business Center LLC, in the transaction. Rich Young Jr. of Rich Young Cos. represented the buyer, a Los Angeles-based limited liability company. Parkway Business Center was 97 percent leased at the time of sale.

July 8, 2021

Acquisitions Hospitality New York Northeast

Cushman & Wakefield Arranges $115M Sale of Mondrian Park Avenue Hotel Mortgage

by Taylor Williams July 8, 2021

NEW YORK CITY — Cushman & Wakefield has arranged the $115 million sale of the first mortgage loan on Mondrian Park Avenue, a 190-room luxury hotel in Manhattan’s NoMad neighborhood. Adam Spies and Dan O’Brien of Cushman & Wakefield represented Moin Development in its sale of the debt to Global Holdings, an owner whose portfolio spans more than 10 million square feet of commercial space.

July 8, 2021

Wegmans-Retail-Center-Hanover-New-Jersey

Acquisitions New Jersey Northeast Retail

Mack-Cali Sells Grocery-Anchored Shopping Center in Hanover, New Jersey, for $46M

by Taylor Williams July 8, 2021

HANOVER, N.J. — Mack-Cali Realty Corp. (NYSE: CLI) has sold Wegmans Retail Center, a 133,276-square-foot grocery-anchored retail center located about 30 miles west of New York City in Hanover. The sales price was $46 million. The property was built in phases between 2017 and 2020 and was fully leased to regional grocer Wegmans and Panera Bread at the time of sale. The sale also included two newly developed restaurant buildings that are leased to Capital Grille and Seasons 52. Jose Cruz, Kevin O’Hearn, Michael Oliver, Steve Simonelli, J.B. Bruno and Nicholas Stefans of JLL represented Mack-Cali in the transaction. The buyer was not disclosed.

July 8, 2021

Cottage-Plaza-Pawtucket-Rhode-IslandCottage-Plaza-Pawtucket-Rhode-Island

Acquisitions Northeast Retail Rhode Island

IPA Negotiates $21.6M Sale of Cottage Plaza Retail Center in Pawtucket, Rhode Island

by Taylor Williams July 8, 2021

PAWTUCKET, R.I. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the $21.6 million sale of Cottage Plaza, an 84,455-square-foot retail center in Pawtucket. Regional grocer Stop & Shop anchors the property, which was built on 14.6 acres between 2004 and 2005. Jim Koury, Dean Zang and David Crotts of IPA represented the undisclosed seller and procured the buyer, AAG Management Inc., in the transaction.

July 8, 2021

Acquisitions Arizona Multifamily Western

Tide Equities Acquires Palm Valley Multifamily Property in Goodyear, Arizona for $71.8M

by Amy Works July 8, 2021

GOODYEAR, ARIZ. — Tide Equities has purchased Palm Valley, a multifamily property in Goodyear. Avanti Residential sold the asset for $71.8 million. Tide Equities has renamed the community Tides at Palm Valley. Built in 1997, the property features 264 apartments; two resort-style swimming pool and spa areas with covered cabanas; a fitness center; basketball court; resident clubhouse; business center; children’s playground; barbecue and picnic areas; and package lockers. Updated units offer quartz countertops, new wood-style vinyl plank flooring and carpet, interior paint, new white cabinet doors and hardware, stainless steel appliances, kitchen backsplash, new lighting fixtures and new plumbing fixtures. Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of CBRE’s Phoenix Multifamily Institutional Properties represented the seller in the deal.

July 8, 2021

Acquisitions Northeast Pennsylvania Retail

Dunhill Auto Group Acquires 10,000 SF Retail Property in Quakertown, Pennsylvania

by Taylor Williams July 8, 2021

QUAKERTOWN, PA. — New Jersey-based Dunhill Auto Group has acquired a 10,000-square-foot retail property at 840 S. West End Blvd. in Quakertown, located north of Philadelphia in Bucks County. Rich Weitzman of Colliers International represented the seller, Peruzzi Auto Group, in the transaction. A Mitsubishi dealership currently occupies the three-acre site.

July 8, 2021

Newer Posts

Older Posts