Acquisitions

Oxford Enterprises Acquires 300-Unit Santa Clara Apartments in Metro Austin

by Taylor Williams August 26, 2020

PFLUGERVILLE, TEXAS — Dallas-based Oxford Enterprises has acquired Santa Clara, a 300-unit apartment community located in the northern Austin suburb of Pflugerville. The property was built on 21.5 acres in 2019 and is situated within several miles of the hubs of major employers like Apple, Dell, Oracle, Hewlett-Packard and General Motors. Units feature one-, two- and three-bedroom floor plans with granite countertops, kitchen islands and private balconies and patios. Amenities include a pool, playground, fitness center, business center, movie theater and a dog park. Will Balthrope, Jordan Featherston, Drew Garza and Kent Myers of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller, Santa Clara LLC, in the transaction. The team also procured Oxford Enterprises as the buyer.

August 26, 2020

Acquisitions Office Texas

Hunington Properties Buys 16,500 SF Building for New Austin Office

by Taylor Williams August 26, 2020

AUSTIN, TEXAS — Houston-based investment firm Hunington Properties has purchased a 16,500-square-foot building in the Westbank area of Austin for its new office. Hunington has hired local architecture firm JDAI Studio to redesign and remodel the space. Evan Dyer and Gigi Gomel will oversee the firm’s new Austin office, which is located at 1715 S. Capital of Texas Highway. Hunington is an active developer in the state capital. The firm’s projects include Shops at Steiner Ranch, Shops at Shadowglen, Shops at Riverplace, Shops at Volente and Shops at Boulder.

August 26, 2020

Acquisitions Kansas Midwest Retail

PEBB Enterprises Sells Tires Plus-Occupied Retail Property in Overland Park for $2.2M

by Kristin Harlow August 26, 2020

OVERLAND PARK, KAN. — PEBB Enterprises has sold a retail property leased to Tires Plus at its Pinnacle Village shopping center for $2.2 million. Four Corners Property Trust purchased the 7,740-square-foot building, which is located in the Kansas City suburb of Overland Park. Colliers International brokered the sale. PEBB acquired the 126,909-square-foot Pinnacle Village in May 2018. DSW and Michael’s are the anchor tenants.

August 26, 2020

Acquisitions Illinois Midwest Retail

Adelphia Properties Brokers Sale of 8,125 SF Retail Building in Mount Prospect, Illinois

by Kristin Harlow August 26, 2020

MOUNT PROSPECT, ILL. — Adelphia Properties has brokered the sale of an 8,125-square-foot retail building located at 263-301 E. Rand Road in Mount Prospect, approximately 23 miles northwest of Chicago. The sales price was undisclosed. The value-add property was 23 percent occupied at the time of sale. George Spirrison and Simeon Spirrison of Adelphia represented the seller, a Chicago-based private real estate investor. The buyer was also a Chicago-based private investor.

August 26, 2020

Acquisitions Georgia Multifamily Southeast

Starwood REIT Acquires Multifamily Community in Metro Atlanta for $82M

by Alex Tostado August 25, 2020

DECATUR, GA. — Starwood REIT has acquired The Baxter Decatur, a 290-unit multifamily community in Decatur, for $82 million. The property, which was formerly known as Solis Decatur, offers one-, two and three-bedroom floor plans. Communal amenities include a car charging station, fitness center, pool, sundeck, game room, bike storage and a pet washing area. The Baxter was 89 percent occupied at the time of sale. Additionally, the property features 20,000square feet of retail space on the ground floor leased to tenants such as Jason’s Deli, 100% Chiropractic, Club Pilates and F45. According to Terwilliger Pappas’ website, the Atlanta-based developer delivered the property in May 2019. The community is located at 1605 Church St., eight miles northeast of downtown Atlanta. The seller was not disclosed.

August 25, 2020

Acquisitions Industrial South Carolina Southeast

Sealy Purchases 1.2 MSF Industrial Portfolio in Greenville from Blackstone

by Alex Tostado August 25, 2020

GREENVILLE, S.C. — Sealy & Co. has acquired an eight-property industrial portfolio totaling 1.2 million square feet in Greenville. Blackstone sold the portfolio for an undisclosed amount. All eight buildings were fully leased to national and international companies at the time of sale. This is the first purchase in South Carolina for Dallas-based Sealy. Scott Sealy Jr., Jason Gandy and Christopher Martin of Sealy worked with Trey Barry of CBRE to acquire the assets.

August 25, 2020

Acquisitions Multifamily North Carolina Southeast

Capstone Negotiates $37.2M Sale of Apartment Complex in Metro Charlotte

by Alex Tostado August 25, 2020

GASTONIA, N.C. — Capstone Apartment Partners has negotiated the $37.2 million sale of Ashbrook Village, a 423-unit apartment complex in Gastonia. The property offers one- and two-bedroom floor plans averaging 754 square feet. Communal amenities include a saltwater pool, leasing office, clubhouse and two laundry facilities. The asset is situated at 2295 Pineview Lane, 20 miles west of downtown Charlotte. The community was 99.5 percent occupied at the time of sale. The seller, locally based Southwood Realty, developed the complex in 1985 and has owned and managed it since. Austin Green, Alex McDermott, Rhodes Marley and Brian Ford of Capstone represented the seller and procured the buyer, New York City-based Gindi Equities.

August 25, 2020

Acquisitions Industrial Kentucky Southeast

JLL Arranges $6.2M Sale of New Industrial Facility in Northeast Kentucky

by Alex Tostado August 25, 2020

GRAYSON, KY. — JLL has arranged the $6.2 million sale of a new 25,000-square-foot industrial property double-net leased to Flowserve in Grayson. The seller, Houston-based Investment & Development Ventures LLC, delivered the asset as a build-to-suit for the company, which produces engineered and industrial pumps, seals and valves, as well as a range of related flow management services. The facility sits on three acres within EastPark, a 1,000-acre industrial park located approximately 25 miles from the Kentucky-Ohio-West Virginia border. Alex Sharrin, Trent Agnew, Brian Shanfeld, Jason DeWitt and Alex Geanakos of JLL represented the seller in the transaction. B.J. Feller, Isaiah Harf and Andy Gatchell of Stan Johnson Co. represented the buyer, an undisclosed family partnership based in Tulsa, Okla.

August 25, 2020

Acquisitions Industrial Midwest Wisconsin

Coldwell Banker Commercial Brokers $7.9M Sale of Manufacturing Facility in Janesville, Wisconsin

by Kristin Harlow August 25, 2020

JANESVILLE, WIS. — Coldwell Banker Commercial has brokered the $7.9 million sale of a 305,000-square-foot manufacturing facility in Janesville, approximately 40 miles southeast of Madison. The building is located at 2101 Kennedy Road within the Kennedy Road Industrial Park. Constructed in the 1960s, the facility features a clear height of 24 feet, six exterior docks, three drive-in doors and 65,000 square feet of office space. The building is leased to Hufcor, which designs and manufactures operable partitions. Borden Family Trust sold the building to Badger Property Investors. Bill Mears of Coldwell Banker Commercial McGuire Mears brokered the sale on behalf of both parties.

August 25, 2020

Acquisitions Colorado Multifamily Western

Hamilton Zanze Sells Highpointe Park Apartments in Thornton, Colorado for $53.6M

by Amy Works August 25, 2020

THORNTON, COLO. — Hamilton Zanze has completed the disposition of Highpointe Park, a multifamily property located at 9701 Pearl St. in Thornton. An undisclosed buyer acquired the property for $53.6 million. Built in 2013, Highpointe Park features eight buildings offering a total of 220 apartments in a mix of one-, two- and three-bedroom layouts. Situated on 7.9 acres and offering 206,896 rentable square feet, the community also offers a clubhouse, fitness center, yoga room, and swimming pool and spa, as well as open parking, carport and garage options for residents. David Potarf, Dan Woodward, Matt Barnett and Jake Young of CBRE Capital Markets in Denver represented the seller in the deal.

August 25, 2020

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