Property Type

HFF Secures Acquisition Financing for 312-Unit Apartment Community in Lawrenceville, New Jersey

by Amy Works January 19, 2018

LAWRENCEVILLE, N.J. — HFF has secured financing for a joint venture between Rockpoint Group and The Brooksville Co. for the acquisition of Avalon Run East, an apartment community located at 100 Avalon Way in Lawrenceville. Michael Klein and Matthew Pizzolato of HFF arranged the seven-year, floating-rate loan through a national bank. Situated on 69 acres, the property comprises 16 three-story buildings featuring a total of 312 units in a mix of one-, two- and three-bedroom units averaging 1,094 square feet. Community amenities include a heated outdoor pool, tennis courts, a playground, picnic and grilling areas, a fully equipped fitness center, an indoor basketball court and a resident lounge.

January 19, 2018

New Jersey Northeast Office

JV Acquires 350,917 SF Office Asset in Parsippany, New Jersey

by Amy Works January 19, 2018

PARSIPPANY, N.J. — A joint venture between Rubinstein Partners and Vision Real Estate Partners has purchased Morris Corporate Center IV (MCC IV), located at 369-379 Interpace Parkway in Parsippany. Intercontinental Real Estate Corp. and Ivy Realty sold the property for an undisclosed price. MCC IV comprises two five-story office buildings totaling 350,917 square feet and connected by a four-story glass atrium lobby. Kevin Welsh, Brian Schulz, Chuck Kohaut, Steven Schultz and David Simson of NFK Capital markets represented the seller and procured the buyer in the transaction.

January 19, 2018

New Jersey Northeast Retail

Marcus & Millichap Arranges Sale of 14,280 SF Retail Property in Hamilton, New Jersey

by Amy Works January 19, 2018

HAMILTON, N.J. — Marcus & Millichap has brokered the sale of a single-tenant retail property, located at 2021 Nottingham Way in Hamilton. A private developer sold the property to a private investor for $5.5 million. Walgreens occupies the 14,280-square-foot property on a net-leased basis. Karly Iacono of Marcus & Millichap represented the seller, while Iacono and Jonathan Zamora, also of Marcus & Millichap, represented the buyer in the deal.

January 19, 2018

Industrial New York Northeast

SVN/Realty Three Advisors Brokers $2.8M Sale of Industrial Building in Plainview, New York

by Amy Works January 19, 2018

PLAINVIEW, N.Y. — SVN/Realty Three Advisors has arranged the sale of an industrial property located at 205 Express St. in Plainview. Robert Anton and Arthur Cerrone Jr. purchased the industrial property from 205 Express Street LLC for $2.8 million. Situated on 1.4 acres and built in 1995, the property features 20,200 square feet of industrial space. Lorraine O’Hara, Patricia Posillico and Aric Schachner of SVN/Realty Three Advisors represented the seller, while David Hunt of Hunt Corporate Services represented the buyer in the deal.

January 19, 2018

Office Southeast Virginia

USAA, Lowe Acquire Three-Building, 566,000 SF Office Complex in Metro D.C.

by Camren Skelton January 19, 2018

ALEXANDRIA, VA. — A joint venture between USAA Real Estate and Lowe has acquired Park Center, a three-building, 566,000-square-foot office complex in Alexandria, roughly eight miles north of Washington, D.C. The adjacent office buildings are located at 4300 King St., 3101 Park Center Drive and 4401 Ford Ave. Joe Carrol of Lowe and Bruce Childs of USAA Real Estate led the acquisition team internally. HFF represented the undisclosed seller, and arranged acquisition financing for the asset on behalf of the new owners. The sales price was not disclosed. Lowe and USAA most recently teamed up on the development of the 705,000-square-foot National Science Foundation Headquarters building, which was completed in late 2017 at 2415 Eisenhower Ave. in Alexandria.

January 19, 2018

Multifamily South Carolina Southeast Student Housing

Valeo, Harrison Street to Deliver 994-Bed Student Housing Community Near Clemson University

by Camren Skelton January 19, 2018

CLEMSON, S.C. — Valeo Groupe US, in conjunction with equity partner Harrison Street Real Estate Capital LLC, has unveiled plans to deliver Epoch Clemson, a 310-unit, 994-bed student housing community serving Clemson University in Clemson. Ed Coco, Matt Casey and Libby Malloy of HFF secured a floating-rate construction loan for the property on behalf of the developers. Other terms of the deal were not disclosed. Epoch Clemson will be situated along the shoreline of Lake Hartwell, just off U.S. Highway 123/Clemson Boulevard. The property will comprise 15 buildings with a variety of cottage, townhome, brownstone and apartment units. Community amenities will include a resort-style pool and clubhouse, volleyball court, 24-hour fitness center, computer center and landscaped courtyards. With more than 3,600 feet of Lake Hartwell frontage, the community will also feature waterfront amenities including a private beach, boat docks, lakeside pedestrian paths and select units with lake views. The community is slated for completion in summer 2019.

January 19, 2018

Georgia Loans Multifamily Southeast

NXT Provides $30M Refinancing for New Apartment Community in Atlanta’s Buckhead District

by Camren Skelton January 19, 2018

ATLANTA — NXT Capital has provided a $30 million first mortgage loan for the refinancing of Ardmore & 28th, a 165-unit apartment community located in Atlanta’s Buckhead district. Richard Jordan of CBRE arranged the loan through NXT on behalf of the borrower and developer, a joint venture between Enfold Properties and CF Real Estate Services. Construction on the property was completed at the end of 2016. Ardmore & 28th features apartment and townhome-style units, as well as a swimming pool with a sundeck, outdoor grilling kitchen, fitness center with yoga and Pilates room, clubhouse, coffee bar, car care facility, dog park and a dog washing station. In addition, the property is located adjacent to the Atlanta BeltLine’s Northside Trail.

January 19, 2018

Civic Louisiana Southeast

Roy Anderson to Lead $17M Construction Project at WWII Museum in New Orleans

by Camren Skelton January 19, 2018

NEW ORLEANS — Roy Anderson Corp., a subsidiary of Tutor Perini Corp., has unveiled plans to construct the Hall of Democracy at the National WWII Museum’s campus in New Orleans. The $17 million pavilion will total 34,800 square feet and will be dedicated to the museum’s research, WWII content, expertise and outreach. The pavilion will house a special exhibits gallery; the Institute for the Study of War and Democracy, which is expected to be the hub of World War II knowledge and education for the museum and the general public; a WWII Media and Education Center with production studios and broadcast capabilities; and a library. Construction on the project is expected to commence later this month or in early February, with completion slated for the summer of 2019.

January 19, 2018

Kansas Midwest Office

The Keith Corp. Sells 239,366 SF Office Building in Overland Park, Kansas

by Kristin Harlow January 19, 2018

OVERLAND PARK, KAN. — The Keith Corp. (TKC) has sold the Quintiles Building in Overland Park for an undisclosed price. The 239,366-square-foot office building is located at 6700 W. 115th St. just southeast of the intersection of College Boulevard and Metcalf Avenue. The building was originally constructed as a build-to-suit for Quintiles in 2006. The integrated information and technology-enabled healthcare company recently extended its 176,839-square-foot lease through 2023. Honeywell took occupancy of the remaining 62,527 square feet in June 2017. Mark Katz, Peter Merrion and Sean Fogarty of HFF marketed the asset for sale on behalf of TKC. The buyer was not disclosed.

January 19, 2018

Iowa Midwest Student Housing

Arrimus Capital Acquires 518-Bed Student Housing Property at Iowa State University

by Kristin Harlow January 19, 2018

AMES, IOWA — Arrimus Capital has acquired Stadium View, a student housing property adjacent to Iowa State University in Ames. The purchase price was not disclosed. The 518-bed property is located at 1206 S. Fourth St. near Jack Trice Stadium, home of the Iowa State Cyclones football team. The seller, Haverkamp Properties, opened Phase I of the community in 2016 followed by Phase II in 2017. The property offers 197 units with a mix of two-, three- and four-bedroom units and was 99 percent leased at the time of sale. Amenities include a fitness center, clubhouse, study lounge and fire pit. Brian Kelly of HFF brokered the transaction.

January 19, 2018

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