GIBSONIA, PA. — Marcus & Millichap has brokered the sale of Route 8 Self Storage, a 91,740-square-foot self-storage facility in Gibsonia, approximately 15 miles north of Pittsburgh. The sales price was undisclosed. Located at 5301 North Pioneer Road, the facility includes 670 units across 16 buildings. The property is currently 89 percent occupied. Brett R. Hatcher and Gabriel Coe of Marcus & Millichap represented the seller, a limited liability company, in the transaction. The buyer was also a a limited liability company.
HOUSTON — Local investment firm Braun Enterprises has acquired a 195,853-square-foot office and retail property in Houston’s Galleria neighborhood from WEDGE Properties Management Corp. Davis Adams, Wally Reid and Kelly Layne of HFF represented the seller and procured the buyer in the transaction. The property, which comprises two six-story office buildings, a single-story retail building and a two-story parking garage, was 54 percent leased at the time of sale. Braun plans to extensively renovate the interior and exterior of the office buildings and redevelop the retail space.
DALLAS — Common Desk has opened an 18,085-square-foot coworking office space at Factory Six03, a warehouse-turned-office building located at 603 Munger St. in Dallas’ West End neighborhood. The space features 26 private offices, conference rooms, a vinyl record lounge, nap room and a wet bar. The location represents the second collaboration between Common Desk and the landlord, Granite Properties.
ATLANTA — The Ardent Cos. has purchased Piedmont Center 14, a 300,454-square-foot office building located at 3535 Piedmont Road in Atlanta’s Buckhead district, for $58 million. The building is situated within Piedmont Center, a 2.1 million-square-foot office park in Buckhead located on 52 acres near Ga. Highway 400 and Piedmont Road. According to the Atlanta Business Chronicle, Ardent now owns nearly 1.7 million square feet within Piedmont Center and has the third largest office footprint among Buckhead owners, trailing only Cousins Properties and Highwoods Properties Inc. Built in 1988, Piedmont Center 14 was 79 percent leased at the time of sale to tenants including MagMutual, Change Healthcare, Kenzie Lane and NCC Media. Richard Reid, Ryan Clutter, Ralph Smalley and Huston Green of HFF represented the undisclosed seller and procured the buyer in the transaction.
SHEPHERDSVILLE, KY. — Louisville, Ky.-based Crossdock Development has broken ground on a 572,000-square-foot speculative industrial facility situated within the Salt River Business Park in Shepherdsville. The Class A facility will be located on a 43-acre site off Interstate 65 about 14 miles south of the UPS Worldport in Louisville. The project, which will be shell-ready in June, will feature 36-foot clear heights and expandable parking. This facility marks the eighth industrial project in the Louisville market for Crossdock Development.
CLEARWATER, FLA. — Berkadia has brokered the $50.1 million sale of Estates at Countryside, a 320-unit apartment community located at 2652 N. McMullen Booth Road in Clearwater. The buyer, an affiliate of Insula Cos., plans to improve the property’s energy and water usage. Mitch Sinberg and Matt Robbins of Berkadia’s South Florida office arranged a $37.2 million, 10-year, floating-rate loan through Freddie Mac’s Green Up program on behalf of Insula Cos. Built in 1990, the property is situated about 21 miles from downtown Tampa on the other side of Old Tampa Bay. Estates at Countryside comprises one-, two- and three-bedroom apartments with vaulted ceilings, sunrooms, walk-in closets and washer/dryer units. Community amenities include a fitness center, spa, pool and a playground. Jason Stanton and Cole Whitaker of Berkadia represented the buyer in the transaction. The seller was not disclosed.
FORT MILL, S.C. — JLL has arranged the $49 million sale of Beckett Farms, a 280-unit apartment community located at 1111 Gennett Circle in Fort Mill, a suburb of Charlotte in South Carolina. PRG Real Estate purchased the asset from the developer, Miller-Valentine Group. Built along Interstate 77 in 2018, Beckett Farms features a clubhouse, fire pits, pocket parks and play lawns, fitness center and a saltwater/mineral pool with sun shelves and private cabanas. Units average 1,026 square feet and include wood-style flooring, patios and balconies, large closets, granite countertops and stainless steel appliances.
SAN JOSE, CALIF. — A joint venture between CIGNA Investment Management and The Muller Co. has acquired Century Plaza, a six-story office building located at 550 S. Winchester Blvd. near Santana Row in San Jose. New York Life Real Estate Investors sold the property for $63.4 million. The new ownership plans to rebrand the 103,622-square-foot property and invest approximately $4.1 million to upgrade the façade, landscaping, lobby, restrooms and corridors. At the time of sale, the property was 82 percent leased. Eric Fox and Nick Lazzarina of Cushman & Wakefield’s San Jose office, along with Steven Hermann, Seth Siegel and Adam Lasoff of Cushman & Wakefield’s San Francisco office, represented the buyer and seller in the deal.
MILWAUKEE — TPG Real Estate and Crestlight Capital have purchased the Schlitz Park office campus in Milwaukee for an undisclosed price. The joint venture acquired the 32-acre office property from The Brewery Works Inc., the development and ownership group led by the Grunau and Sampson families. After a $30 million, multi-year renovation, Schlitz Park reached full occupancy in mid-2018. Tenants include US Bank, UMB Fund Services, HSA Bank, Aurora Health Care and the Milwaukee Bucks. The property originally served as the brewery for Joseph Schlitz Brewing Co.
HONOLULU — Bethesda, Md.-based Phillips Realty Capital has secured $63 million in financing on behalf of Lucky Hotels USA. Benefit Street Partners provided fixed-rate, permanent financing secured by the OHANA Waikiki Malia Hotel in Honolulu. John Sieber Jr. of Phillips Realty Capital structured the financing, while Aaron Derby at Benefit Street Partners represented the lender. Situated at 2211 Kuhio Ave. within the Waikiki Resort District, the hotel features two towers built in 1960 and 1980 and underwent a $6.2 million renovation in 2010 to update the rooms, lobby and common areas. Outrigger Hotels and Resorts manages the 327-room hotel.