MAUMEE, OHIO — Reichle Klein Group has arranged the sale of a 36,000-square-foot office building in Maumee, about 10 miles southwest of Toledo, for $2.2 million. The property is situated on three acres at 1789 Indian Wood Circle within Arrowhead Business Park. John Sluhan of Reichle Klein Group represented the seller, Manhattan Building Co. Marty Gallagher, also of Reichle Klein Group, represented the buyer, Walbridge Investors LLC.
ORLANDO, FLA. — Berkadia has arranged a $65.7 million acquisition loan for Elan Audubon Park, a 449-unit multifamily community located at 990 Warehouse Road in Orlando. Charles Foschini, Chris Apone and Lourdes Carranza-Alvarez of Berkadia arranged the five-year loan through Bank of America on behalf of the borrower, Harbor Group International. The company acquired the property for $97.1 million. Constructed this year, Elan Audubon Park features one-, two- and three-bedroom units with vaulted ceilings, hardwood floors and in-unit washers and dryers. Community amenities include two resort-style pools, a poolside bar with a TV, outdoor kitchens with gas grilling areas, outdoor fire pits, two-story clubhouse, two-story fitness center, tanning room, game room, dog park and a dog wash station. Elan Audubon Park is situated near Colonial Town Center, home to a variety of shopping, dining and entertainment destinations.
MARIETTA, GA. — Capital Properties Group and Concordia Properties have unveiled the first round of restaurant tenants to occupy Marietta Square Market, a new food hall concept located in the Historic Marietta Square District, roughly 20 miles north of downtown Atlanta. The 18,500-square-foot converted warehouse building, located adjacent to the railroad tracks at 68 N. Marietta Parkway N.W., will have the look of a historic train station complete with a restored trolley car and a porch that wraps around two sides of the building. The food hall will feature 19 restaurant and retail concepts. Signed tenants at the project include Forno — Wood Fired Artisan Pizza, Street Taco, Grand Champion BBQ, Toppoke Korean & Poke and Pita Mediterranean Street Food. Kelly Wilson of Windsor Realty Group is handling the project’s leasing assignment. Marietta Square Market is slated to open in summer 2018.
TAMPA, FLA. — Preferred Apartment Communities (PAC) has acquired Overlook at Crosstown Walk, a 180-unit apartment community in Tampa. PAC acquired the asset through a wholly owned subsidiary and financed the acquisition using a $22.2 million, fixed-rate Fannie Mae loan. Berkadia Commercial arranged the seven-year loan with a fixed interest rate of 3.95 percent and a 30-year amortization schedule. Other terms of the transaction were not disclosed. Constructed in 2016, Overlook at Crosstown Walk features a pet washing station, fitness center, pool, business center and a clubhouse.
NORTH EAST, MD. — Klein Enterprises has acquired North East Station Shopping Center, an 87,006-square-foot retail center in North East, a town in northeast Maryland situated between Baltimore and Philadelphia, for $11.6 million. The seller was not disclosed. Food Lion anchors the center, which was 90.3 percent leased at the time of sale to tenants including Walgreens, Waffle House, AutoZone, Wendy’s and West Marine. North East Station is less than a mile from the Principio Industrial Park, which will house the new Amazon distribution center and its 700 full-time employees.
VESTAVIA HILLS, ALA. — Cushman & Wakefield has arranged the sale of 1800 Vestavia, a 170-unit apartment community in Vestavia Hills, roughly six miles south of Birmingham. Josh Jacobs and Jimmy Adams of Cushman & Wakefield arranged the transaction on behalf of the buyer, Springer Capital. The seller and sales price were not disclosed. Interior upgrades have been completed for 20 units, and the new ownership plans to redevelop the property’s interiors and amenity package.
LATHROP, CALIF. — Carpenter Co. has sold a 417,600-square-foot industrial building south of Stockton to an undisclosed buyer for $21.5 million. The facility is located at 17100 S. Harlan Road in Lathrop. The property is situated on nearly 35 acres about 60 miles east of the Port of Oakland. Jim Martin of Lee & Associates Stockton represented Carpenter Co. in this transaction.
LAS VEGAS — The 158-room Homewood Suites by Hilton Las Vegas City Center has opened in Las Vegas. The hotel is located at 4625 Dean Martin Drive, half a mile from the Las Vegas Strip. Heritage Inn and Suites of Las Vegas owns the property, which Tharaldson Hospitality Management Co. manages. It offers studio to two-bedroom units that feature fully equipped kitchens, as well as separate living and sleeping areas.
DENVER — An unnamed buyer has purchased a 41-unit apartment community in Denver for $6.6 million. The community is located at 2920 W. 32nd Ave. in the Highlands neighborhood. The asset is fully occupied. Josh Newell of the Newell Team represented the buyer in a 1031 exchange that swapped a stabilized asset for this value-add opportunity. Jeff Johnson of Pinnacle Real Estate Advisors’ Johnson Ritter Team represented the seller in this transaction.
AURORA, COLO. — An Inland Real Estate Acquisitions affiliate has acquired the 200-unit Arterra Place Apartments in Aurora for an undisclosed sum. The community is located at 17036 E. Ohio Drive. Arterra Place was built in 2014. Each unit features nine-foot ceilings, granite countertops, a fireplace, walk-in closets, full-size washer and dryer, balcony and scenic mountain views. The property also features community amenities like a clubhouse with Wi-Fi, media room, heated swimming pool, outdoor fireplaces, 24-hour fitness center, bicycle/jogging path, barbecue grills, playground and heated pet wash station. Matthew Tice of Inland Real Estate Acquisitions executed the transaction.
