SCOTTSDALE, ARIZ. — DBM Ventures, a local partnership, has acquired a 2.8-acre land parcel, located at 8399 E. Hartford Drive within Perimeter Center in Scottsdale, for $9 million. The partnership plans to develop a two-story, 32,054-square-foot office building on the property. LGE Design Build is providing architectural services and general contracting for the project. Construction is slated to begin at the end of year with occupancy scheduled for summer 2019. Jim Keeley of Colliers International’s Greater Phoenix office negotiated the land sale transaction.
ATLANTA — North American Properties (NAP) has sold Anthem on Ashley, a 244-unit multifamily community in Atlanta’s Old Fourth Ward neighborhood, to Invesco Advisers Inc. Built in 2017 by NAP, the asset sold for $370 per square foot, a record price for wood-framed multifamily development in metro Atlanta. JLL Multifamily Investment Sales team represented NAP in the transaction. Located at the corner of Ashley Avenue and Ralph McGill Boulevard, the Class A community is located two blocks from Atlanta BeltLine’s Eastside Trail and is the only apartment community with direct access to Historic Fourth Ward Park. Community amenities include a saltwater pool with a sundeck and private cabanas; 24-hour fitness center with group classes; poolside club room and sky deck overlooking the park; outdoor grilling stations and a fire pit; clubhouse with bar lounge; bike storage; Wi-Fi enabled micro-offices; and an event stylist who programs resident experiences like wine tastings. NAP is continuing to develop Edge, a nearby apartment community that will open in December. The project will feature a pedestrian bridge over the BeltLine Eastside Trail and include 29,000 square feet of loft office, retail and restaurant space.
JACKSON AND VICKSBURG, MISS. — Colliers International has brokered the $42.9 million sale-leaseback of two medical office buildings in Mississippi. Combining for 91,526 square feet, the two assets are triple-net leased by a single tenant, GI Associates & Endoscopy Center. The facilities include GI Associates’ headquarters facility in Jackson and its satellite office located in Vicksburg. Josh Randolph of Colliers International’s Birmingham, Ala., office represented GI Associates in the sale. The buyer was not disclosed.
ADDISON, TEXAS — SVN | Dunn Commercial has arranged the sale of a 24,190-square-foot industrial asset in Addison, a northern suburb of Dallas. The property, which includes 8,000 square feet of office space and a fenced outside storage area, is leased to a company that manufactures semiconductors. David Dunn and Courtney Dunn of SVN | Dunn Commercial represented the seller in the transaction. Other terms of sale were not disclosed.
POMPANO BEACH, FLA. — Jefferson Apartment Group, in a joint venture with Starwood Asset Management, has sold Jefferson Lighthouse Place, a 243-unit apartment community located in Broward County’s Pompano Beach. Norfolk, Va.-based Harbor Group International purchased the property for $55 million. Built in 2015, Jefferson Lighthouse Place features nine-foot ceilings, granite countertops and full-sized washer and dryers in each unit. Community amenities include a resort-style pool, fitness center, outdoor living room, kitchen and grill area with a TV, billiards and lounge seating.
WEXFORD, PA. — HFF has arranged the $13.8 million sale of a 53,000-square-foot, single-tenant retail property in Wexford, approximately 17 miles north of Pittsburgh. Marc Mandel, Steve Schrenk, Coler Yoakam, Mark West and Michael George of HFF represented the seller, a REIT, in the transaction. A private East Coast buyer purchased the asset. Additionally, HFF secured an $8.5 million, 20-year, fixed-rate loan with Protective Life Insurance Company for the buyer. Levin Furniture occupies the building under a triple net lease that expires in 20 years.
NEW YORK CITY — Cushman & Wakefield has arranged the $6.5 million sale of 145 18th Street, a 16,577 square-feet brick warehouse in Brooklyn’s Greenwood Heights neighborhood. The property allows for 33,154 buildable square feet of commercial development, according to local zoning regulations. Winfield Clifford, William Barrett and Junji Miyake of Cushman & Wakefield represented the seller, Adel Rootstein USA, in the transaction. The buyer was SNL Storage. Nearby retailers include Costco, Home Depot, Lowe’s, Petco and ABC Carpet & Home.
WEST NEW YORK, N.J. — Marcus & Millichap has arranged the $2 million sale of a net-leased GameStop location in West New York. Michael Lombardi, Alexander Pildes and Steven Schiavello of Marcus & Millichap represented the buyer and seller in the transaction, both private investors. Located at 6001 Bergenline Ave., the video game retailer GameStop has been at the property since 2002.
CHULA VISTA, CALIF. — NKF Capital Markets has arranged the $58.5 million sale of Broadway Plaza, a 356,335-square-foot shopping center in Chula Vista, located nine miles southeast of San Diego. The center was fully leased at the time of sale to tenants including Walmart, Costco, Panda Express, Verizon, Subway, Chase Bank, Petco and GameStop. Pete Bethea, Rob Ippolito and Glenn Rudy of NKF represented the seller, Kimco Realty. The buyer, Protea Properties LLC, was self-represented in the transaction.
SANTA FE SPRINGS, CALIF. — Realty Advisory Group has arranged the purchase of an industrial property located at 9601-9603 John St. in Santa Fe Springs. An undisclosed buyer acquired the property for $24.8 million. Situated on 7.2 acres, the 181,070-square-foot facility features 22- to 28-foot ceiling heights, 16 DH positions and future divisibility. At the time of sale, the building was fully leased to Windsor Fashions. John Repstad and Mark Repstad of Realty Advisors Group represented the buyer and undisclosed seller in the deal.