Property Type

Realty Metrix Commercial Arranges Sale of 4,122 SF Retail Property in Hampshire, Illinois

by Kristin Harlow September 18, 2017

HAMPSHIRE, ILL. — Realty Metrix Commercial has arranged the sale of the 4,122-square-foot retail property formerly occupied by Corkshire Pub in Hampshire, located in northern Illinois. The sales price was not disclosed. The 4,122-square-foot retail property, built in 1930, is located at 172 S. State St. The buyer, K&M Village Inc., plans to renovate the property and rename it Copper Barrel on State, which will offer modern cuisine as well as some of the old Corkshire Pub favorites. Completion is slated for January 2018. Linda Kost and Dave Schmidt of Realty Metrix Commercial represented both the buyer and the seller, Gayle Cork Trust.

September 18, 2017

Multifamily North Carolina Southeast

SunCap Property Begins Construction on Upscale Apartment Asset in Charlotte

by Camren Skelton September 18, 2017

CHARLOTTE, N.C. — SunCap Property Group has broken ground on Draper Place, a four-story, 47-unit apartment community located at the intersection of Randolph Road and Dotger Avenue in Charlotte. The high-end community will include two- and three-bedroom units ranging in size from 1,650 to 2,200 square feet, with rental rates starting at $3,400 per month. Individual units will feature gas stoves, under-cabinet lighting, dry bars with wine refrigerators, walk-in closets and 10-foot ceilings. Community amenities will include a community clubroom, private conference room, shared kitchen and an outdoor gas grill and custom fireplace. The first units at Draper Place are expected to deliver by late 2018. Cline Design is the architect for the project, Metrolina Builders is the general contractor and Rivergate KW Residential will lease and manage the community. Draper Place is SunCap’s first multifamily development in Charlotte.

September 18, 2017

Georgia Multifamily Southeast

PointOne Holdings, Biscayne Atlantic Sell Multifamily Community in Metro Atlanta for $33.5M

by Camren Skelton September 18, 2017

LITHIA SPRINGS, GA. — PointOne Holdings, in a joint venture with Biscayne Atlantic, has sold Waterford Point Apartments, a 344-unit multifamily community in Lithia Springs, for $33.5 million. The buyer was not disclosed. Located at 670 Thornton Road, Waterford Point is roughly 18 miles west of Atlanta. The joint venture originally acquired the property in 2014 for $18.7 million and invested roughly $2.5 million in capital improvements, including upgraded interiors, added amenities and updated infrastructure. Community amenities include a swimming pool, fitness center and clubhouse. At the time of sale, the community was 98 percent occupied.

September 18, 2017

Louisiana Retail Southeast

Edge Realty Capital Brokers Sale of 112,108 SF Retail Center in Lafayette, Louisiana

by Camren Skelton September 18, 2017

LAFAYETTE, LA. — Edge Realty Capital Markets has brokered the sale of Parkway Plaza, a 112,108-square-foot shopping center in Lafayette. Brandon Beeson and Kevin Holland of Edge Realty Capital represented the seller, 1996 Parkway Plaza Partnership LLC. TCP Capital Partners LLC acquired the property for an undisclosed price. At the time of sale, the property was 98.3 percent leased to tenants including Citi Trends, Sears Outlet, It’s Fashion Metro, Dollar Tree, Kool Smiles and Rainbow.

September 18, 2017

North Carolina Office Southeast

Vestis Capital Arranges $8.2M Sale of Office Building in Durham

by Camren Skelton September 18, 2017

DURHAM, N.C. — Vestis Capital Partners has brokered the $8.2 million sale of Valley View, a 54,000-square-foot office building located at 3511 Shannon Road in Durham. Drew Eller of Vestis Capital Partners arranged the transaction on behalf of the seller, Valley View Office LLC. Bo Hargrove and Street Jones of Rich Commercial Realty represented the buyer, a Massachusetts-based private investor. At the time of sale, Valley View was 90 percent leased.

September 18, 2017

Georgia Office Southeast

Avison Young Secures 40,000 SF Lease for Boston Consulting Group in Downtown Atlanta

by Camren Skelton September 18, 2017

ATLANTA — Avison Young has arranged a 10-year, 40,000-square-foot lease for The Boston Consulting Group (BCG), a global management consulting firm, at 100 Peachtree in downtown Atlanta. Phil and Hilton Barry of Avison Young represented BCG in the lease transaction. Scott DeMyer and C. Deming Fish of Colliers International represented the landlord, Zeller Realty Group. BCG is expected to bring roughly 200 jobs to Atlanta upon moving to the building, in an effort to co-locate business support jobs into one central office. The Boston-based company will invest nearly $9 million renovating two floors of the building. Construction is slated for completion in the first half of 2018. Formerly known as the Equitable Building, the 622,084-square-foot 100 Peachtree features a conference center, fitness center and is located within walking distance of a variety of restaurants. The building is home to Georgia’s Own Credit Union, Koch Industries and CallRail.

September 18, 2017

Multifamily Texas

Pure Multifamily REIT to Acquire 340-Unit Apartment Community in Dallas for $66.3M

by Taylor Williams September 18, 2017

DALLAS — Canadian investment firm Pure Multifamily REIT LP (TSX: RUF.U), has entered into an agreement to acquire Farmers Market Apartments, a multifamily community located at 835 S. Good Latimer Expressway in Dallas, for roughly $66.3 million. Developed in 2016, the property totals 340 units averaging 824 square feet per unit. Amenities include a pool lounge, outdoor kitchen, fitness center and bicycle rental service. The transaction is expected to close in October.

September 18, 2017

Hospitality Texas

NewcrestImage Opens 226-Room Embassy Suites Hotel in Downtown Amarillo

by Taylor Williams September 18, 2017

AMARILLO, TEXAS — NewcrestImage has opened a 226-room Embassy Suites hotel in downtown Amarillo. The property features a mix of one-bedroom and studio suites; 18,000 square feet of meeting space, including a 10,000-square-foot ballroom; an indoor pool; and a restaurant and lounge. A 750-space parking garage was also delivered as part of the project. Construction began in October 2015.

September 18, 2017

Multifamily Texas

Electra America Buys 344-Unit Apartment Community in San Antonio

by Taylor Williams September 18, 2017

SAN ANTONIO — Electra America, a multifamily investment and management firm with offices across the East Coast, has acquired Pecan Springs, a 344-unit multifamily community in San Antonio. Built in 2013, the property offers a mix of one-, two- and three-bedroom units and amenities such as a pool, fitness center and dog park. Electra America will add washers and dryers to all units and upgrade the exterior of the property, which was 95 percent occupied at the time of sale.

September 18, 2017

Industrial Self-Storage Texas

Marcus & Millichap Brokers Sale of 452-Unit Self-Storage Facility in Clute, Texas

by Taylor Williams September 18, 2017

CLUTE, TEXAS — Marcus & Millichap has brokered the sale of Clute Affordable Storage, a 452-unit self-storage facility located at 508 E. Main St. in Clute, a Gulf Coast-area city approximately 50 miles south of Houston. Nicholas Ling of Marcus & Millichap represented the seller, an undisclosed partnership, in the transaction. Evan Griffith and Tony Pepdjonovic of Marcus & Millichap represented the buyer, a limited liability company. Other terms of sale were not released.

September 18, 2017

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