MILWAUKEE — R2 Cos. has purchased The Tannery, a six-building, 253,022-square-foot office complex on Virginia Street in Milwaukee’s Walker’s Point neighborhood. The purchase price was not disclosed. Ned Purtell and Scott Revolinski of Founders 3 Real Estate Services represented the seller, SARA Investment Real Estate. The property is home to several tenants, including Aurora Healthcare, Great Lakes Distillery and Springfield College.
OSWEGO, ILL. — Stan Johnson Co. has arranged the sale of a single-tenant retail building net leased to Jewel-Osco in Oswego for an undisclosed price. The 62,000-square-foot property is located at 3795 Orchard Road. Jewel-Osco has more than 19 years remaining on its initial lease term. Tom Georges and Jon Cohen of Stan Johnson Co. represented the buyer, Los Angeles-based ASAS LLC, in the transaction. Jeff Hughes, Zach Haris and Jonathan Ameen, also of Stan Johnson Co., represented the seller, CF Albert Propco LLC.
NEWARK, N.J. — HFF has negotiated the $8.2 million sale of a 4.5-acre land parcel in Newark. The property is located at 120 Frontage Road and is adjacent to Newark Liberty International Airport. HFF represented the undisclosed seller in the transaction. The buyer plans to construct an 80,000-square-foot industrial building on the site. The site is also located near Port Newark-Elizabeth, one of the largest containerized deep-water shipping terminals on the East Coast.
FALMOUTH, MAINE — Cardente Real Estate has brokered the $1.1 million sale of a 6,085-square-foot office property in Falmouth. Located at 19 Northbrook Drive, the tenant roster includes Goldman Financial Planning, Maine Laser, Edward Jones and Joshua Rent. Matthew Cardente of Cardente Real Estate represented the seller, Mark Richards. The buyer was CPM-19 Northbrook Drive LLC.
ATLANTA — Walker & Dunlop’s Investment Sales division has arranged the sale of Stadium Walk and Overlook at Huntcrest, two multifamily properties located in Atlanta. Atlanta-based Brand Properties sold the properties to Charleston-based Blaze Partners for a total of nearly $133 million. Kris Mikkelsen and Chris Goldsmith of Walker & Dunlop represented the seller in the deal. Additionally, following the sale, Stephen West, Matthew Wallach and Justin Nelson of Walker & Dunlop’s multifamily finance and capital markets team arranged financing for the buyer’s acquisition. Situated in Atlanta’s Cumberland submarket in Cobb County, Stadium Walk features 309 Class A units and surface parking. The community is within walking distance to The Battery Atlanta and SunTrust Park, home of the Atlanta Braves. The 229-unit Overlook at Huntcrest is located in the Sugarloaf submarket of Gwinnett County.
OCALA, FLA. — Cortland Partners has completed the sale of Deerwood Village Apartment Homes, a garden-style multifamily community located at 1850 SE 18th Ave. in Ocala. An affiliate of Boston-based West Shore LLC acquired the Central Florida property for $49.7 million, or $151,677 per unit. Constructed in 2006, Deerwood Village comprises 40 two-story residential buildings, one clubhouse and one maintenance building. The community features 328 units in a mix of one-, two- and three-bedroom units with an average size of 1,015 square feet and an average market rent of $1,266. All units features full-size washers and dryers, deep-soaking bathtubs, granite countertops and nine-foot or vaulted ceilings. Situated on 38 acres, the community amenities include a renovated clubhouse and leasing center, resort-inspired swimming pool, Wi-Fi café, car care center, dog park, business center, nature trail and a 24-hour fitness center. At the time of sale, the property was 94 percent occupied. Jay Ballard and Ken Delvillar of Cushman & Wakefield’s Florida Multifamily team represented Atlanta-based Cortland in the transaction.
HATTIESBURG, MISS. — Vesper Holdings has acquired Vie at Hattiesburg, a 792-bed student housing community located near the University of Southern Mississippi campus in Hattiesburg. The property offers two- and four-bedroom units with bed-to-bath parity. Shared amenities include a clubhouse, swimming pool and poolside lounge with a TV, 24-hour fitness center, business center, computer lab, sand volleyball court and a private shuttle to campus. The community’s previous owner, whose name was undisclosed, recently completed a $2 million renovation that included upgrades to flooring, appliances, furniture, clubhouse and the fitness center. Vesper is planning to invest an additional $600,000 to further upgrade the amenities, enhance the property’s exteriors and make substantial technology upgrades throughout the complex.
SALT LAKE CITY — Unico Properties, a subsidiary of Unico Investment Group, has purchased City Centre I, a high-rise tower in downtown Salt Lake City, for an undisclosed price. Located in Salt Lake City’s central business district, the 10-story property features 229,600 square feet of Class A office space. Additionally, the acquisition includes an adjoining 1.8-acre surface parking lot. The building is situated on the TRAX light rail line and offers direct freeway access to Interstate 15, as well as walkability throughout the downtown core. This transaction is Unico’s third investment in the Salt Lake City market, bringing the company’s downtown Salt Lake City portfolio to more than 1 million square feet of space.
HOUSTON — HFF has negotiated the sale of three office properties totaling 230,506 square feet in Houston. Amerix Capital purchased 2930 West Sam Houston Parkway; Enterprise Holdings bought 10401 CentrePark Drive; and S&B Engineers & Contractors Ltd. acquired 15150 Memorial Drive. The first two properties were built in the early 2000s, are located in Houston’s West Belt submarket and were 94.2 percent and 69.7 percent leased at the time of sale, respectively. The third property was built in 1992 and is located in the Energy Corridor area. Dan Miller and Trent Agnew of HFF represented the privately held seller, Houston-based MetroNational, in the transactions.
SAN ANTONIO — Oregon-based Hayden Properties has sold Fifth Avenue and Bitterwood Ranch, two multifamily assets totaling 388 units in San Antonio. Both properties offer one- and two-bedroom units and amenities such as a pool, business center, fitness center and outdoor grilling areas. According to The Austin Business Journal, the buyer was Wildhorn Capital, an Austin-based investment firm that acquired the properties for an undisclosed price.