AUSTELL, GA. — Resource Apartment REIT III Inc., through a wholly owned subsidiary, has acquired Tramore Village, a 324-unit apartment community in Austell, roughly 17 miles northwest of Atlanta. Constructed in 1999, the community features two swimming pools, a fitness center and a lighted tennis court. The sales price and name of the seller were not disclosed.
WHITE BEAR LAKE AND LAKE ELMO, MINN. — US Storage Centers, in partnership with Harrison Street Real Estate Capital LLC, has acquired two self-storage facilities in Minnesota for an undisclosed price. Both properties, which feature climate-controlled units, will be rebranded as US Storage Centers. One of the facilities, a 922-unit, 83,264-square-foot property, is located in White Bear Lake, about 20 miles northeast of Minneapolis. The other is a 790-unit facility with 69,038 square feet of self-storage space in Lake Elmo, about 24 miles east of Minneapolis. US Storage Centers currently manages approximately 8 million square feet of self-storage space nationwide.
TROY, MICH. — Henry Ford Health System has signed a 276,250-square-foot office lease in Troy. The health system will occupy the space at 1414 E. Maple Road. John Boyd and Grant Bruce of Signature Associates represented the landlord, Sure Holdings LLC, in the lease transaction.
WEST CHICAGO, ILL. — Newmark Knight Frank (NKF) has negotiated a 125,000-square-foot industrial lease renewal on behalf of Leslie’s Poolmart Inc. in West Chicago, about 38 miles west of the Windy City. The property is located at 320 Industrial Drive. Phoenix-based Leslie’s, which sells swimming pool and spa supplies, will use the space for warehousing products. Jerry Jacobs of NKF represented Leslie’s in the lease transaction. Adam Marshall and Mark Deady of NKF served as local advisors. David Prell of CBRE represented the landlord, Colony NorthStar Inc.
CHICAGO — Jameson Commercial has brokered the $6.8 million sale of a retail building in Chicago’s Elston corridor. The 81,700-square-foot property is situated on 1.5 acres at 2525 N. Elston Ave. Artsupply.com and Johnstone Supply are two of the property’s tenants. Jose Colon represented the buyer in the sale. Both the buyer and seller were investment groups based in the Chicago area.
LAS VEGAS — A joint venture between SunCap Property Group and Colony NorthStar has acquired a 40-acre development site located at the southeast corner of N. Las Vegas and N. Lamb boulevards in Las Vegas. The partnership plans to develop SunPoint Crossing, a Class A light industrial campus on the site. Spanning three buildings, the campus will feature 752,838 square feet of industrial space. Divisible to 35,000 square feet, the buildings will feature tilt-up concrete construction, 32-foot clear ceiling heights, ESFR sprinklers, dock-height and grade-level doors with trailer parking. Construction is slated to begin this summer for delivery of shell buildings in summer 2019. Jeremy Green and Tyler Ecklund of CBRE’s Las Vegas office is handling marketing for the development.
ELK GROVE, CALIF. — Koelsch Communities has announced plans for Laguna Springs Senior Community, a 240,000-square-foot seniors housing property in the Sacramento suburb of Elk Grove. Groundbreaking is scheduled for June for a planned opening in December 2019. Development costs were estimated at $71 million. Located on 11 acres, the project will feature The Park at Laguna Springs Independent Living and The Gardens at Laguna Springs Memory Care. The independent living portion will be a three-story building housing 135 apartments plus 16 single-story homes. The memory care portion can house up to 70 residents in various stages of memory loss. Koelsch Communities will manage the property upon completion. The company is developing the project in partnership with RJ Development, with Koelsch Construction acting as general contractor. Judy Koelsch and David Goularte of JSK Design will design the interiors.
RICHLAND, WASH. — CBRE has brokered the sale of Badger Mountain Ranch, a multifamily property located 451 Westcliffe Blvd. in Richland. Badger Mountain Apartments I LLC sold the property to Irvine, Calif.-based Starboard Realty Advisors for an undisclosed price. Built in 2013, the property features 176 apartment units in a mix of one-, two- and three-bedroom layouts. Phil Oester, Eli Hanacek, Joe Nydahl and Josh McDonald of CBRE represented the seller in the transaction.
DENVER — Nexus Commercial Real Estate has brokered the sale of Park Plaza Apartments, located at 2250 Josephine St. in Denver. Anchor Josephine LLC acquired the apartment building from Park Plaza Josephine LLC for $3.2 million. The 22-unit building features 20 one-bedroom units, one studio apartment and one two-bedroom unit. Adam Riddle of Nexus represented the seller, while Riddle and Austin Smith, also of Nexus, represented the buyer in the deal.
RENO, NEV. — The Wolff Company has announced plans for Revel Damonte Ranch, a 156-unit independent living community in Reno. The project will be located within the Damonte Ranch mixed-use community. It will be Arizona-based Wolff’s second community in Reno. Wolff plans to open Revel Damonte Ranch in 2020.
