Property Type

Primerica Group One Sells Tampa Bay Apartment Complex for $62.5M

by Alex Tostado February 27, 2020

DUNEDIN, FLA. — Primerica Group One Inc. has sold Dunedin Commons, a 280-unit apartment complex in Dunedin, for $62.5 million. The property offers one-, two- and three-bedroom floor plans. Communal amenities include a clubhouse, media center, cyber café, fitness center, infinity pool, outdoor kitchen, playground, dog washing station and walking and jogging trails. Dunedin Commons is situated at 2701 Dunedin Commons Place, 25 miles west of downtown Tampa. Jason Stanton, Cole Whitaker and Marc Sumner of Berkadia represented the Tampa-based seller in the transaction. Dallas-based Westdale Asset Management Ltd. acquired the property.

February 27, 2020

Acquisitions Multifamily Southeast Tennessee

Kirkland Brokers $53.3M Sale of Multifamily Community Near Nashville

by Alex Tostado February 27, 2020

SPRING HILL, TENN. — The Kirkland Co. has brokered the $53.3 million sale of Commonwealth at 31, a 248-unit multifamily community in Spring Hill. The gated community offers one-, two- and three-bedroom floor plans and communal amenities such as a pool, fitness center, dog park, storage units, outdoor kitchen and a business center. San Francisco-based Hamilton Zanze acquired the property, which is situated at 2880 Commonwealth Drive, 32 miles south of downtown Nashville. Miller Harris, Dennis Harris and William Kirkland of Kirkland represented the buyer and undisclosed seller in the transaction.

February 27, 2020

Acquisitions Louisiana Retail Southeast

Azad Commercial Realty Acquires 349,660 SF Retail Center in Baton Rouge

by Alex Tostado February 27, 2020

BATON ROUGE, LA. — Azad Commercial Realty Services LLC has acquired Hammond Aire Plaza, a 349,660-square-foot retail center in Baton Rouge. The property was 97 percent leased at the time of sale to tenants including Burlington, Marshalls, Michaels and Stein Mart. Albertsons shadow anchors the center. Hammond Aire Plaza is located at 9616-9638 Airline Highway, seven miles east of downtown Baton Rouge. Mark Gilbert and Fain Hicks of Cushman & Wakefield represented the undisclosed seller in the transaction.

February 27, 2020

Acquisitions Florida Hospitality Multifamily Southeast

Marcus & Millichap Negotiates $14.2M Sale of Hotel, Apartment Property in Central Florida

by Alex Tostado February 27, 2020

ALTAMONTE SPRINGS, FLA. — Marcus & Millichap has negotiated the $14.2 million sale of Remington Inn & Suites, a mixed-use property featuring 180 hotel rooms and 216 apartment units in Altamonte Springs. The one-bedroom apartment units are available to rent on a short-term basis, starting at $273 per week or $950 per month. Amenities include a pool, business center, complimentary newspapers and a playground. The property is situated at 450 Douglas Ave., 10 miles north of downtown Orlando. David Greenberg and Gabriel Shamay of Marcus & Millichap represented and procured the undisclosed buyer in the transaction. The undisclosed seller has owned the property since 1983.

February 27, 2020

Acquisitions Mixed-Use New Jersey Northeast

Lennar, U.S. Home Corp. Acquires Land for $125M Mixed-Use Development in Eatontown, New Jersey

by Alex Patton February 27, 2020

EATONTOWN, N.J. — A partnership between Miami-based homebuilder Lennar Corp. and U.S. Home Corp. has acquired a 73-acre site in Eatontown, located approximately 50 miles south of New York City for the development of a $125 million mixed-use project. The Fort Monmouth Economic Revitalization Authority approved the sale of Parcel B, which is located on a former military installation, on Feb. 24, though the deal is subject to a 10-day veto period. Preliminary plans call for 302 residential units and 150,000 to 250,000 square feet of commercial space. A tentative construction timeline was not released.

February 27, 2020

Connecticut Leasing Activity Northeast Retail

Bob’s Discount Furniture Opens 30,000 SF Store in Norwalk, Connecticut

by Alex Patton February 27, 2020

NORWALK, CONN. — Bob’s Discount Furniture has opened a 30,000-square-foot store in Norwalk, a western suburb of Bridgeport. The Manchester, Connecticut-based retailer operates 122 stores across 18 states. The store, which is Bob’s ninth in Connecticut, is located at 59 Connecticut Ave. The building was formerly leased to Toys ‘R’ Us. Benderson Development acquired the property during the toy retailer’s asset liquidation.

February 27, 2020

Leasing Activity New York Northeast Office

Law Firm Signs 14,888 SF Office Lease Expansion in Manhattan

by Alex Patton February 27, 2020

NEW YORK CITY — Law firm Rivkin Radler LLP has signed a 14,888-square-foot office lease expansion in Midtown Manhattan. The company is already a tenant at 477 Madison Avenue and will move into its new space after ownership completes the build-out later this year. The law firm represented itself in the lease negotiations. A.J. Camhi, Rob Weller and Ryan Silverman led a leasing team that represented the building owner, RFR, on an internal basis.

February 27, 2020

Acquisitions Industrial Self-Storage Texas

LandPark Advisors Acquires 278-Unit Self-Storage Facility in Metro Houston

by Taylor Williams February 27, 2020

SPRING, TEXAS — LandPark Advisors LLC has acquired a 278-unit self-storage facility formerly known as Regal Self Storage in Spring, a northern suburb of Houston. The property was built on 1.8 acres in 2005 and features 43,025 square feet of net rentable space. LandPark will renovate the facility and rebrand it as Right Move Storage Spring. The seller was not disclosed.

February 27, 2020

Leasing Activity New York Northeast Office

CBRE Negotiates 9,397 SF Office Lease in Manhattan

by Alex Patton February 27, 2020

NEW YORK CITY — CBRE has negotiated a 9,397-square-foot office lease for co-living space provider The Collective in the SoHo neighborhood of Manhattan. The tenant will occupy the entire top floor and penthouse of the SoHo Building located at 110 Greene St. beginning in early March. Alexander Golod and Neil King of CBRE represented The Collective in the lease negotiations. SL Green Realty Corp. owns the building.

February 27, 2020

Acquisitions Hospitality Texas

HotelBrokerOne Arranges Sale of 243-Room Holiday Inn Hotel Near DFW Airport

by Taylor Williams February 27, 2020

BEDFORD, TEXAS — HotelBrokerOne, a hospitality investment brokerage and consulting firm, has arranged the sale of the 243-room Holiday Inn DFW Airport Area West hotel in the Fort Worth suburb of Bedford. Located a few miles from the southern entrance to the airport, the hotel features a fitness center, outdoor pool, business center and a cocktail lounge. Joe Strain and Bruce Holmes of HotelBrokerOne represented the undisclosed seller in the transaction. The buyer was not disclosed.

February 27, 2020

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