Property Type

CBRE Global Investors Buys Four Self-Storage Facilities in Colorado, California, Washington Totaling 3,746 Units

by Amy Works July 30, 2021

BOULDER, COLO.; VISTA, CALIF.; AND BOTHELL AND LAKE STEVENS, WASH. — A fund sponsored by CBRE Global Investors has purchased four self-storage properties totaling 3,746 units and 296,286 square feet. Terms of the transaction were not released. The acquired assets, which were all delivered in 2020, are: The 69,115-square-foot StorQuest Boulder, located at 4790 Pearl St. in Boulder, featuring 772 climate-controlled units. The 74,416-square-foot StorQuest Vista, located at 943 S. Melrose Drive in Vista, with 899 climate-controlled units. The 74,805-square-foot StorQuest Bothell, located at 21008 Bothell Everett Highway in Bothell, offering 1,155 climate-controlled units. The 77,950-square-foot StorQuest Lake Stevens, located at 1113 WA-204 in Lake Stevens, with 920 climate-controlled units. With these acquisitions, the fund now owns 19 self-storage assets, totaling 13,650 units, across the United States.

July 30, 2021

Acquisitions Arizona Healthcare Net Lease Office Retail Western

Stratton Road Realty Acquires Dobson Town Place Medical Office Building in Chandler for $10.3M

by Amy Works July 30, 2021

CHANDLER, ARIZ. — Stratton Road Realty LLC has purchased Dobson Town Place, a single-story medical office building located in south Chandler. Off Five LLC sold the asset for $10.3 million, or $232 per square foot. At the time of sale, the 44,000-square-foot property was 100 percent leased to a mix of medical, professional office and retail tenants on triple-net leases. Dobson Town Place was built in 2007 and 2008. James Taylor of Orion Investment Real Estate represented the seller in the deal.

July 30, 2021

Acquisitions Arizona Multifamily Western

Taurus Expands Multifamily Footprint in Arizona with $31.1M Apartment Community Purchase

by Amy Works July 30, 2021

MESA, ARIZ. — Taurus Investment Holdings has acquired 544 Southern, a multifamily property located in Mesa, for $31.1 million. Built in 1985, the 114,824-square-foot, Class B community features 136 apartments. This is Taurus’ fourth acquisition in the Phoenix metro within the last 12 months. The company’s portfolio now includes more than 5,800 units acquired and developed nationwide and over 725 units in the Phoenix market. The name of the seller was not released.

July 30, 2021

Acquisitions Colorado Multifamily Western

Capstone Brokers $4.1M Sale of Apartment Building in Colorado Springs

by Amy Works July 30, 2021

COLORADO SPRINGS, COLO. — Capstone has arranged the sale of Red Rocks Terrace, a multifamily property located at 3164 W. Colorado Ave. in Colorado Springs. The building traded hands for $4.1 million. The names of the seller and buyer were not released. The 16,350-square-foot property features two studio units, five two-bedroom units and 16 one-bedroom units. Almost all units were renovated within the last two years and significant improvements were made to the exterior of the property. Sean Holamon of Capstone represented the seller in the transaction.

July 30, 2021

Acquisitions Multifamily Texas

American Landmark Acquires 325-Unit Elan River District Apartments in Fort Worth

by Taylor Williams July 30, 2021

FORT WORTH, TEXAS — Tampa-based multifamily investment firm American Landmark has acquired Elan River District Apartments, a 325-unit community in Fort Worth. Built in 2017, the property features studio, one-, two- and three-bedroom units with stainless steel appliances, granite countertops, individual washers and dryers and private balconies. Amenities include a pool, business center, fitness center and a social lounge. American Landmark will implement a value-add program and rebrand the property as Mercantile River District.

July 30, 2021

Acquisitions Multifamily Texas

Marcus & Millichap Brokers Sale of 154-Unit Oasis Springs Apartments Near DFW Airport

by Taylor Williams July 30, 2021

HURST, TEXAS — Marcus & Millichap has brokered the sale of Oasis Springs, a 154-unit apartment complex located near Dallas-Fort Worth International Airport in Hurst. The property was built in 1979 and offers amenities such as a pool, basketball court, playground and onsite laundry facilities. Al Silva and Ford Braly of Marcus & Millichap represented the seller and procured the buyer, both of which were Dallas-based private investment firms that requested anonymity.

July 30, 2021

Acquisitions Hospitality Texas

Napali Capital Acquires 152-Room Hilton-Branded Hotel in Dallas CBD

by Taylor Williams July 30, 2021

DALLAS — North Texas-based investment firm Napali Capital has acquired the 152-room Tru by Hilton Dallas Market Center hotel in the city’s central business district. The building was originally constructed in 1965 as a bank and until recently functioned as an office property. The building was converted to a hotel in January of this year following a gut renovation. Amenities include two food and beverage concepts, a 24/7 grab-and-go market, fitness center and a lobby with foosball, billiards and other games. The seller and sales price were not disclosed.

July 30, 2021

Acquisitions Retail Texas

Baker Katz Arranges Sale of 60,935 SF Former Star Furniture Retail Building in Houston

by Taylor Williams July 30, 2021

HOUSTON — Locally based brokerage firm Baker Katz has arranged the sale of a 60,935-square-foot retail building in Houston that was formerly occupied by Star Furniture. The building sits on 2.4 acres at 7111 FM 1960 on the city’s northwest side and includes showroom space. Jason Baker and Ben Brown of Baker Katz represented the seller, Power Squared Group, in the transaction. Brian Ashby of CBRE represented the buyer, Bel Furniture.

July 30, 2021

Development Massachusetts Multifamily Northeast

DivcoWest, LCOR Top Off 468-Unit Apartment Community at Cambridge Crossing

by Taylor Williams July 30, 2021

CAMBRIDGE, MASS. — Developers DivcoWest and LCOR have topped off Park 151, a 468-unit apartment community located within Cambridge Crossing, a 43-acre mixed-use development located at the convergence of Boston, Cambridge and Somerville. Approximately 12 percent (56 units) of the residences will be earmarked as affordable housing, and the building will also house 18,000 square feet of retail space. Amenities will include a pool, terrace with cooking stations, lounge areas and a fitness center. Project partners include architect CBT and general contractor John Moriarty & Associates. Park 151 represents the first of multiple phases of residential development within Cambridge Crossing. Completion is slated for the third quarter of 2022.

July 30, 2021

Development Healthcare Life Sciences Northeast Office Pennsylvania

Plymouth Group, Centerbridge Break Ground on 450,000 SF Life Sciences Project in Philadelphia

by Taylor Williams July 30, 2021

PHILADELPHIA — A partnership between New York City-based developer The Plymouth Group and private investment firm Centerbridge Partners LP has broken ground on Budd Bioworks, a 450,000-square-foot life sciences project in Philadelphia. The property will be located at the site of the former plant of The Budd Co., a defunct manufacturer of automotive parts, in Philadelphia’s “Cellicon Valley” area. Budd Bioworks represents Phase I of a larger, 2.4 million-square-foot life sciences development. The development team also plans to incorporate residential, restaurant and retail uses in subsequent phases of the repositioning of the larger Budd Co. campus. Colliers International has been tapped to lease the life sciences component of the project.

July 30, 2021

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