MILFORD, CONN. — Pearce Real Estate has brokered the sale of an 18,634-square-foot industrial facility in Milford for $1 million. The property is located at 363 Naugatuck Ave., 14 miles south of New Haven. John Bergin of the Pearce Commercial Milford office represented the buyer, 363 Naugatuck Ave. LLC, and the seller, Travco of Milford LLC, in the transaction. United Rentals has leased the property for the past 17 years.
NEW YORK CITY — Marcus & Millichap has arranged the sale of a six-building, 107-unit multifamily portfolio in Manhattan for $16.8 million. The West Bridge Associates Portfolio is located on 151st and 152nd streets between Broadway and Amsterdam Avenue in Upper Manhattan. Seth Glasser, Peter Von Der Ahe, Joe Koicim and Jacob Kahn of Marcus & Millichap represented the seller, a private investor, and procured the buyer, also a private investor.
COLORADO SPRINGS, COLO. — Security Properties has purchased the 220-unit Willows at Printers Park apartment complex in Colorado Springs for $41 million. The community is located at 2205 Willow Tree Grove, two miles east of downtown. Willows at Printers Park contains one- to three-bedroom apartments with well-appointed kitchens, walk-in closets, in-unit full-size washers and dryers, and private patios/balconies. Amenities include a swimming pool, clubhouse with a small kitchen and attached business center, playground, and fire pit gazebo. Security Properties plans to upgrade the property, continuing the unit renovations initiated by prior ownership, adding aesthetic upgrades to the clubhouse and expanding the amenity offerings. Security Properties-affiliate Security Properties Residential will manage the property.
EVANS, GA. — Meybohm Commercial Properties is nearing completion on the first building at The Plaza at Evans Towne Center, a $60 million mixed-use project in Evans, roughly 10 miles northwest of Augusta. The 58,000-square-foot building, named the Meybohm Building, is part of the project’s first phase. The building will be the new home of Meybohm Real Estate, an Augusta-based real estate company and the parent company of Meybohm Commercial Properties. Meybohm Real Estate will consolidate its training center, new homes division and local Evans office into 15,000 square feet at the new space. In addition, Your Pie Pizzeria will open a location at the building and additional tenants will be announced soon, according to Meybohm. Upon completion, The Plaza at Evans Towne Center will include six mixed-use buildings, a central park and a performing arts building. Ground-level spaces will be dedicated to retail and restaurants, and 2,000 parking spaces have been planned for the site. Michael Watkins Architect LLC is the master-planner for project, and R.W. Allen Construction is the general contractor. Atlanta-based architect firm TSW designed the Phase I buildings, as well as the outdoor park. A timeline for the project was not disclosed.
DURHAM, N.C. — HFF has brokered the $42.1 million sale of Altera North Pointe, a 320-unit apartment community located at 2335 Broad St. in Durham. Allan Lynch, Justin Good and Jeff Glenn of HFF arranged the transaction on behalf of the seller, Atlanta-based Wood Partners, and procured the buyer, a partnership between McCann Realty Partners and LEM Capital. Wood Partners originally acquired the asset in 2015 for $36.4 million, according to the Triangle Business Journal. The property is located adjacent to North Pointe Shopping Center and will soon offer direct pedestrian access to the Ellerbe Creek Greenway, which is nearing completion. Completed in 2001, the property was recently renovated and features two swimming pools, tennis courts, a volleyball court, playground, grilling areas, dog park, fitness center, clubhouse, game room with billiards and a car care center. The community offers a mix of one- to three-bedroom floor plans averaging 977 square feet.
BOYNTON BEACH, FLA. — Charlotte-based FCA Partners has sold Shoppes of Boynton, a 151,000-square-foot shopping center in the South Florida city of Boynton Beach, for $27.8 million. Dennis Carson and Casey Rosen of CBRE arranged the transaction on behalf of FCA. Northbridge Investment Management acquired the property on behalf of an institutional client. Shoppes of Boynton is home to tenants such as Ross Dress for Less, Dollar Tree, Tuesday Morning, Ale House, Chili’s, FedEx Office, MD Now and Pollo Tropical. The center was 87 percent leased at the time of sale.
ORLANDO, FLA. — Roger B. Kennedy Construction has broken ground on Ecco on Orange, a 300-unit apartment community located at 3135 S. Orange Ave. in Orlando. An affiliate of LeCesse Development Corp. is developing the $40 million community, which will include two five-story and one four-story apartment buildings, along with a seven-story parking garage. Community amenities will include a rooftop pool, clubhouse and a fitness center. The Miami office of 5G Studio Collaborative, an architecture firm, is designing the project, which is slated for completion in November 2019.
HOLLY SPRINGS, N.C. — PointOne Holdings, in partnership with Hathaway Development, has started construction on the Exchange at Holly Springs, a 316-unit apartment community in Holly Springs, roughly 20 miles southwest of Raleigh. The gated community will feature a clubhouse, business center, fitness center, resort-style pool with outdoor grilling areas, a dog park, detached garages, package concierge services and bike storage. Units will feature granite countertops, designer cabinetry and hardwood style flooring. A construction timeline for the project was not disclosed.
CHICAGO — KeyBank Real Estate Capital has originated a $92.7 million Freddie Mac loan for the refinancing of The Pavilion Apartments in Chicago. Built between 1968 and 1972, the property includes five buildings and 1,114 units. The apartment complex also features 7,891 square feet of retail and restaurant space. Tim Migchelbrink of KeyBank originated the fixed-rate loan through Freddie Mac’s Green Up program.
MINNEAPOLIS — CBRE Capital Markets has arranged the sale of a 12-property industrial tech portfolio totaling 914,698 square feet in the Twin Cities. A joint venture between Artemis Real Estate Partners and Eagle Ridge Partners purchased the portfolio, which was 87 percent leased at the time of sale. Tenants include a mix of high-tech services, manufacturing, biotechnology, media production and other companies in the tech industry. The properties are located in the suburbs of Woodbury, Oakdale, Plymouth, Maple Grove, Minnetonka and Eden Prairie. Judd Welliver, Ryan Watts, Sonja Dusil and Tom Holtz of CBRE represented the seller, a private REIT.