CORPUS CHRISTI, TEXAS — Self-storage brokerage firm Versal has negotiated the sale of Fox Mini Storage, a 396-unit facility located at 5734 Wooldridge Road in Corpus Christi. The facility spans 46,375 net rentable square feet. Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of Versal represented the seller, Corpus Christi-based Fox Tree & Landscape Nursery Inc., in the transaction. The team also procured the undisclosed, Fort-Worth based buyer.
IRVING, TEXAS — Atlanta-based brokerage firm Hunter Hotel Advisors has arranged the sale of the 135-room Hilton Dallas-Irving-Las Colinas hotel. The hotel offers amenities such as a pool, fitness center, meeting rooms and complimentary breakfast. A Louisiana-based developer purchased the property from a New York-based investment firm for an undisclosed price. Kami Burnette and Mason McDavid of Hunter Hotel Advisors brokered the deal.
WASHINGTON, D.C. — Shorenstein Investment Advisers has purchased 901 K Street, a 219,956-square-foot trophy office building in Washington, D.C.’s East End submarket. The seller and sales price were not disclosed, but multiple media outlets report that Carr Properties sold the office building for $84 million. Tenants at 901 K Street include Microsoft, Baker Donelson and ViaSat. Shorenstein has selected Eli Barnes, Jonathan Wellborn and Will Stern of Avison Young to lease 901 K Street. Shorenstein plans to enhance the office building’s amenity offerings with a new conference facility and tenant lounge. Other amenities include a rooftop terrace with a catering kitchen for events, fitness center and a 222-space parking garage.
TYSONS, VA. — JBG Smith has acquired Tysons Dulles Plaza, a 15-acre office campus in the Washington, D.C., suburb of Tysons. The seller and sales price were not disclosed, but Washington Business Journal reports the property traded for $42.3 million. The three-building campus spans approximately 500,000 square feet of office space and includes 1,553 parking spaces. The property is within walking distance of Silver Line’s Spring Hill Metro station and adjacent to Dulles Toll Road. JBG Smith intends to re-entitle and redevelop one of the three office buildings for residential use, and the other two buildings will be enhanced to remain in long-term operation for office tenants. The timeline for the redevelopment of Tysons Dulles Plaza was not released.
JOHNSON CITY, TENN. — Transwestern Real Estate Services has arranged the $26.3 million sale of Monarch 815, a 576-bed student housing property located at 1109 University Parkway near the East Tennessee State University campus in Johnson City. Mike McGaughy, Jon Kleinberg and Bradley Fulkerson of the firm’s National Student Housing team represented the seller, an entity doing business as 1109 University Parkway Holdings, in the disposition. Logen Capital acquired the property via commercial real estate auction platform RI Marketplace. Built in 2014, the community consists of four residential buildings offering 176 fully furnished units. Shared amenities include a resort-style pool, fitness center, private yoga studio, billiards room and a dog park.
NEW HAVEN, CONN. — A partnership between two affordable housing development and management companies, Community Preservation Partners (CPP) and Beacon Communities, has acquired the 104-unit Brewery Square Apartments in New Haven. The new ownership plans to invest about $43 million in the rehabilitation of the two-building complex, which was originally constructed in 1896 as a brewery and converted to housing in the 1980s. The partnership will upgrade units’ appliances, bathrooms, countertops, windows and floors, as well as enhance the landscaping and security systems. Renovations will serve to extend the affordability status of the property, which houses 41 one-bedroom units, 55 two-bedroom residences and six three-bedroom units. The renovation will transition 84 of the 104 units into the Low-Income Housing Tax Credit program, with affordability levels ranging from 30 to 80 percent of the area median income.
DALLAS, PA. — Local investment firm Sordoni Properties has purchased the former Offset Paperback factory in the northeastern Pennsylvania city of Dallas with plans to redevelop the historic industrial building. The sales price was $5.5 million. The 16-acre facility originally opened in 1948. Sordoni’s redevelopment will feature a supermarket, convenience store and restaurant, with fitness and medical uses also in consideration. Jeff Algatt of Colliers represented Sordoni in the transaction.
SANTA ANA, CALIF. — Terreno Realty has purchased an industrial building located at 3500 W. MacArthur Blvd. in Santa Ana from an undisclosed seller for $49.5 million. Situated on 12 acres, the 134,000-square-foot property features seven dock-high and three grade-level landing positions. At the time of sale, the facility was fully occupied by a major home improvement retailer and operated as a retail location.
ANAHEIM HILLS, CALIF. — JCH Senior Housing Investment Brokerage has arranged the sale of an assisted living and memory care facility located in the Inland Empire region of Southern California. A local operator acquired the property for $14.1 million. Licensed for 100 beds, the facility features 86 units. Cindy Hazzard and Jim Hazzard of Anaheim, Calif.-based JCH represented both the buyer and seller in the transaction.
LAKEWOOD, COLO. — Malman Real Estate has arranged the sale of 1250 Simms Street, an industrial property in Lakewood. An entity doing business as 1250 Simms LLC sold the asset to 1250 Simms St LLC and 1250 Simms St JP LLC for $7.2 million. At the time of sale, the 54,416-square-foot property was fully leased. Jake Malman of Malman Real Estate represented the seller, while Paul Cattin of Platinum CRE represented the buyer in the deal.