WOODLAND HILLS, CALIF. — Bolour Associates has purchased a flex commercial building, located at 21200 Oxnard St. in Woodland Hills, for an undisclosed price. Situated on three acres, the property features 50,000 square feet of commercial space. Additionally, the building is part of the Warner Center 2035 Specific Plan, which promotes high-density development in the Warner Center neighborhood of San Fernando Valley. The building is surrounded by development, including a 120,000-square-foot seniors housing facility, 110,000-square-foot medical office building, 170-room hotel and 461-unit apartment complex. Nigel Stout of JLL represented the buyer in the deal. David Harding, Billy Walk and David Josker of CBRE will oversee the leasing of the property.
Acquisitions
MILWAUKEE — Berkadia has arranged the sale of Avenir Apartments on Jefferson in Milwaukee for $22.7 million. The 104-unit apartment community includes 7,045 square feet of retail space. Located at 1437 N. Jefferson St., the property features studio, one- and two-bedroom floor plans. Ralph DePasquale, Alex Blagojevich and Parker Stewart of Berkadia represented the seller, an entity managed by Wangard Partners. Weidner Apartment Homes purchased the asset.
GERMANTOWN, WIS. — Founders 3 Real Estate Services Inc. has brokered the sale of a 162,230-square-foot industrial building in Germantown for an undisclosed price. The building, located within Willow Creek Business Park, serves as the headquarters for DiscountRamps.com with 18,610 square feet designated as office space. The seller, Weas Development, completed construction of the building in September. Andy Hess and Bob Flood of Founders 3 brokered the transaction on behalf of the seller. An affiliate of STAG Industrial Inc. purchased the building.
SAN ANTONIO — JLL has negotiated the sale of Whispering Hills, a 164-unit multifamily property located in northeast San Antonio. According to apartments.com, the property was built in 1983 and features one-, two- and three-bedroom units. Amenities include a pool, business center, outdoor picnic areas and a dog park. Moses Siller and Zar Haro of JLL represented the seller, Houston-based Triad Real Estate Consulting Group, in the transaction. The buyer was GVA Pro LLC.
BEAUMONT, TEXAS — Southern Properties Capital, a subsidiary of Transcontinental Realty Investors Inc. (NYSE: TCI), has acquired Chelsea Apartments, a 144-unit multifamily community in Beaumont. Built in 1999, the property offers one-, two- and three-bedroom units ranging in size from 618 to 1,239 square feet, as well as a pool, business center and a clubhouse. The seller was not disclosed.
ARLINGTON, TEXAS — Stonelake Capital Partners, a private equity firm with offices in Austin, Houston and Dallas, has purchased a 56,960-square-foot industrial building located at 616 111th St. in Arlington. According to LoopNet Inc., the property was built in 1981 and features 20-foot clear heights. Mark Graybill and Colton Rhodes of Lee & Associates brokered the deal. The seller was not disclosed.
SAN ANTONIO — Marcus & Millichap has arranged the sale of a 64,033-square-foot land tract at 4616 San Pedro Ave. in San Antonio. According to CoStar Group, the new ownership intends to demolish the existing structures by the end of the year and build a self-storage facility. Jon Danklefs of Marcus & Millichap represented the seller in the land deal.
LOS ANGELES — CBS Corp. (NYSE: CBS) has signed a definitive agreement for the sale of its landmark CBS Television City property and sound stage operation in Los Angeles. Hackman Capital Partners, a Los Angeles-based real estate developer, is purchasing the 25-acre campus from the mass media company for $750 million. As part of the agreement, Hackman Capital will have the rights to use the Television City trademark in connection with its operations on the property. CBS programs including “The Late Late Show With James Corden,” “The Price is Right” and “The Young and The Restless” will continue to be produced on the Television City campus for at least the next five years. CBS will also retain office space for CBS Studios International’s U.S. headquarters and other company departments currently housed on the site. The transaction is expected to close in early 2019. The Los Angeles Times reported that CBS has been considering selling its studio complex since 2017 to capture increased value for developers looking to build in the Fairfax area. The campus features surface parking that Hackman Capital could redevelop, according to the newspaper. Joseph Ianniello, president and acting CEO of CBS Corp. says the company will use …
SANFORD, FLA. — Newmark Knight Frank Multifamily (NKF) has brokered the $45.7 million sale of Solara, a multifamily community in Sanford, about 20 miles north of Orlando. Scott Ramey, Kevin Judd and Patrick Dufour of NKF represented the seller, a multifamily investment company based in Montgomery, Ala. The buyer was Tampa- and Boston- based Robbins Property Associates. The 272-unit Solara was built in 2014 and features amenities such as a saltwater pool, lounge areas and a club lounge, featuring a billiards table and full bar with catering kitchen.
CHARLOTTE, N.C. — Dallas-based Lantower Residential has acquired Lantower Waverly, a 375-unit apartment community in Charlotte’s Ballantyne neighborhood. Charlotte Business Journal reports that the property sold for more than $84 million. The complex is located about 13 miles south of downtown Charlotte, and amenities include a saltwater pool, fitness center, dog park, electric car charging stations and a media center/movie theater. The seller was undisclosed.