AUSTIN, TEXAS — Washington, D.C.-based Carr Properties has acquired 100 Congress, a 419,785-square-foot office building in downtown Austin. The building is situated on a one-acre site at the intersection of Congress Avenue and Cesar Chavez Street and was 94 percent leased at the time of sale to tenants such as Google and law firm Jackson Walker. Amenities include a fitness center, conference center and an onsite bank branch. Carr Properties plans to renovate the building. The seller was not disclosed.
HOUSTON — San Antonio-based REEP Equity has purchased Residences 2727, a 171-unit apartment complex in Houston. The property sits on 3.7 acres and offers one- and two-bedroom units averaging 917 square feet. Amenities include a pool, fitness center, pet park and a resident lounge. Mark Brandenburg, C.W. Sheehan and Cort Martin of JLL arranged fixed-rate acquisition financing through NexBank on behalf of REEP Equity, which will implement a value-add program that will include the addition of a business center.
SAN ANTONIO — Healthcare investment firm Montecito Medical has acquired a newly built, 29,375-square-foot medical office building in the Westover Hills neighborhood of San Antonio. The property was fully leased at the time of sale to anchor tenant Methodist Healthcare of San Antonio, as well as South Texas Radiology and San Antonio ENT. The seller and sales price were not disclosed.
LEXINGTON, MASS. — A partnership between Greatland Realty Partners and Singerman Real Estate has acquired a 288,528-square-foot office/research and development campus located at 10 Maguire Road in the northern Boston suburb of Lexington. The four-building property is located near the I-95/Route 128 and Route 3 interchange and features an open-air food hall with indoor and outdoor seating. JLL is marketing the property for lease to life sciences and technology users.
MERIDEN, CONN. — CBRE has negotiated the $34.8 million sale of Alvista Willow Brook, a 180-unit apartment community in Meriden, located roughly midway between Hartford and New Haven. Built in 2005, the property offers amenities such as a fitness center, pool and a leasing office. A CBRE team of Jeffrey Dunne, Simon Butler, Biria St. John, Gene Pride, Jeremy Neuer, Steve Bardsley, David Gavin and Travis Langer represented the seller, an affiliate of Phoenix Realty Group, in the deal. The team also procured the buyer, Beachwold Residential.
ELK GROVE VILLAGE, ILL. — Colliers International Chicago has brokered the sale of a 146,029-square-foot industrial building in Elk Grove Village, a northwest suburb of Chicago. The sales price was undisclosed. Completed in 2020 and located at 500 E. Devon Ave., the property features a clear height of 32 feet. The facility was 71 percent leased to three tenants at the time of sale. Colliers will continue to represent the new ownership in marketing the vacancy for lease. Jeff Devine and Steve Disse of Colliers represented the seller, CA Ventures. A fund managed by Goldman Sachs was the buyer.
NORWOOD, MASS. — JLL has brokered the $7.4 million sale of a 44,406-square-foot industrial property in Norwood, a southern suburb of Boston. The facility was built in 1980 and was fully leased to computer hardware manufacturer Source Code at the time of sale. Matthew Sherry and Michael Restivo of JLL represented the seller, Arris Partners LLC, in the transaction. The buyer was locally based investment firm Berkeley Partners.
CHICAGO — Interra Realty has negotiated the sale of a 12-unit apartment building in Chicago’s Wrigleyville neighborhood for $5.4 million. The property is located at 915 W. Addison St., just steps from Wrigley Field. The building was originally constructed in 1920, but recently underwent an extensive capital improvement program by the seller. The property was fully leased by the time of sale. Joe Smazal of Interra represented the private local buyer. Craig Martin of Interra represented the seller, Horizon Realty Group.
TOLEDO, OHIO — Reichle Klein Group has arranged the sale of a 26,112-square-foot office building in Toledo for $1.5 million. The property sits on slightly less than a quarter acre at 6629 W. Central Ave., near I-475. Ryan Miller of Reichle Klein represented the buyer, 6629 W. Central Ave. LLC. The seller was undisclosed.
JACKSONVILLE, FLA. — CT Realty, in a joint venture with Diamond Realty Investments, has purchased 250 acres of industrial-zoned land in Jacksonville for the development of an eight-building, 3.2 million-square-foot logistics park. The buyers have begun developing the first phase, which spans 1.7 million square feet across three buildings, and is projected to be completed in 2022. Southeast Toyota Distributors, an independent Toyota automotive distributor, sold the site for $300 million. Guy Preston and Seda Preston of Colliers International represented both Southeast Toyota Distributors and the buyers in the land sale. The site is situated off Pritchard Road, approximately three miles west of Interstate 295 and close to Jacksonville Port Authority (JAXPORT), which handles the highest container volume of Florida’s four major seaports. JAXPORT is in the midst of a major dredging project that, upon completion in 2022, will create the deepest port on the East Coast, capable of serving high-capacity post-Panamax container ships.