TARRYTOWN, N.Y. — CBRE has brokered the sale of Talleyrand Apartments, a 300-unit multifamily community in Tarrytown. County records listed the sale at $91 million. Jeffrey Dunne, Gene Pride and Eric Apfel of CBRE represented the seller, a REIT, in the transaction. The buyer was an affiliate of The DSF Group. The community, which is located at 1202 Crescent Drive, is 29 miles north of Manhattan and offers access to the city via the Metro North Railroad.
HOUSTON — Chicago-based development firm Marquette Cos. has completed Catalyst, a 359-unit apartment tower located one block from Minute Maid Park in downtown Houston. The 28-story building, which is roughly 25 percent preleased, is the first luxury high-rise to be completed in the area in nearly a decade. Amenities at the property, which was designed by Ziegler Cooper Architects, include a 21,500-square-foot pool, 2,200-square-foot fitness center, dog park, conference room a coffee bar. The property also features 7,400 square feet of ground-floor restaurant space, a 2,000-square-foot club on the 26th floor and a bar and lounge on the 28th floor. Floor plans include studio, one-, two- and three-bedroom units ranging in size from roughly 600 to 2,000 square feet. The property will officially open on April 5.
GRAND PRAIRIE, TEXAS — Stream Realty Partners has brokered the sale of a 265,877-square-foot distribution center located at 3100 State Highway 161 in the Dallas metro of Grand Prairie. Built in 2015, the property is located within Trinity 161 Trade Center and offers convenient access to Interstate 30. Building features include 27-foot clear heights, 46 dock-high doors, an ESFR sprinkler system and 390 car parking spaces. Cannon Green and Sarah Ozanne of Stream Realty Partners represented the buyer, Colony Industrial, a division of Los Angeles-based REIT Colony Northstar. The seller was Soho Somervell Trinity LP.
AUSTIN, TEXAS — Innovative Aftermarket Systems (IAS), a provider of management solutions for the finance and insurance industries, has signed a 40,000-square-foot office lease at Preserve at 620 in Austin. The company will establish its headquarters at the 225,000-square-foot property, which is currently under construction. Amenities at the property will include a fitness center, sports court and open courtyard spaces. Ryan Bohls of Newmark Knight Frank represented IAS in the lease negotiations. Ben Tolson and Joe Simmons with AQUILA Commercial represented the landlord and developer, San Diego-based PacVentures Inc.
BALCH SPRINGS, TEXAS — Marcus & Millichap has arranged the sale of a 9,100-square-foot retail property net-leased to Dollar General in Balch Springs, an eastern suburb of Dallas. Vincent Knipp of Marcus & Millichap represented the buyer, a private investor, in the transaction. Other terms of sale were not disclosed.
RAPID CITY, S.D. — Love Funding has provided a $24.2 million FHA-insured loan for the construction of Moon Meadows Apartments in Rapid City. The 160-unit multifamily property will feature a mix of one-, two- and three-bedroom floor plans within eight garden-style buildings. Climate-controlled hallways will link garages to unit entrances. Consolidated Construction Co. Inc. is building the property. Way Architects PC designed the project and Vertex Property Management will manage the community. Moon Meadows Apartments is part of the Moon Meadows Park development, which will include an office building, hotel, retail space and a new medical office park.
FRIDLEY, MINN. — LKQ Corp. has signed a 200,000-square-foot industrial lease at Northern Stacks in Fridley, about 10 miles north of Minneapolis. The provider of automobile repair parts will occupy the entire square footage of Stacks VII, the seventh and final building at the industrial park slated for completion in January 2019. To date, developers Hyde Development and M.A. Mortenson Co. have completed five buildings, four of which are fully leased. Eric Batiza and Jason Simek of Colliers International represented Hyde in the lease transaction. Vic Overholser of SDS Realty represented LKQ.
CHICAGO — Kiser Group has brokered the $9 million sale of The Maynard in Chicago’s Uptown neighborhood. The 74-unit apartment building is located at 4875 N. Magnolia Ave. Originally built in 1925, the property features primarily micro-unit studios, some as small as 218 square feet. Rick Ofman and Lee Kiser of Kiser Group brokered the transaction. Becovic Management purchased the asset from CLK Properties.
WEST ALLIS, WIS. — Cushman & Wakefield | Boerke has arranged the sale of the Atlas Pipe Threading Co. building in West Allis, six miles west of Milwaukee. The sales price was not disclosed. The 35,266-square-foot industrial property is located at 11133 W. Rogers St. Dave Ferron and Kristian Sydow of Cushman & Wakefield | Boerke brokered the sale on behalf of the buyer, Composite Drivelines LLC, and the seller, Atlas Pipe Threading Co., a pipe supplier that closed its business over a year ago.
LITTLE FALLS, MINN. — Timber Development has sold a 12,000-square-foot retail center in the central Minnesota city of Little Falls for $1.2 million. The newly renovated property is 100 percent leased. Tenants include Maurice’s Clothing, Shoe Sensation and Cricket Wireless. Erin Patton of Marcus & Millichap brokered the transaction. The buyer was not disclosed.
