PORTLAND, ORE. — Cushman & Wakefield has completed the remodeling of its long-time office in downtown Portland. The office is located at 200 S.W. Market St. Cushman & Wakefield has resided in the building since 1989. The remodel includes new design enhancements and amenities making for a more collaborative, technologically advanced, functionally efficient and enjoyable workplace. The office features numerous common areas and meeting rooms, two phone booths for private calls, a private wellness room, Skype for Business technology, on-site showers and smart lighting based on occupancy, among other features. The building was initially constructed in 1973. Russell Development completed a $25 million reconstruction of the building in 1990. The firm also installed new on-site amenities earlier this year, including bocce ball courts, and completed an upgrade to the outdoor terrace area. The building is co-managed by Russell Development Co. and Cushman & Wakefield, both of which have offices on the site.
Property Type
COLORADO SPRINGS, COLO. — ARA Newmark has arranged the sale of the Lookout on Cragmor, a 151-bed community located near the University of Colorado-Colorado Springs. Newsome Development sold the Lookout on Cragmor to Student Quarters for an undisclosed price. Ryan Lang, Brandon Buell and Trent Houchin of ARA Newmark represented the seller.
SUGAR LAND, TEXAS — Dallas-based Velocis has acquired Two Sugar Creek Center, a 143,410-square-foot, Class A office building located at 77 Sugar Creek Blvd. in the Houston metro of Sugar Land. Built in 1999, the six-story property was 85 percent leased at the time of sale and features on-site conferencing facilities, a 240-space parking structure and an additional 1.5 acres of developable land. H. Dan Miller and Trent Agnew of HFF represented the seller, TA Realty, in the transaction.
PLANO, TEXAS — Stream Realty Partners has brokered the sale of Jupiter Service Center, an office/industrial asset totaling 126,485-square-foot in Plano. The four-building property is situated on nine acres at the corner of Jupiter Road and 10th Street, less than a mile from the President George Bush Turnpike. Jamie Jennings, James Mantzuranis, Matt Dornak and Ryan Wolcott of Stream Realty represented the seller, Situs, a Houston-based advisory and management firm. Kennington Property Co. purchased the asset for an undisclosed price.
NEWARK, DEL. — Aulder Capital has purchased Foxwood Apartments, a 414-unit value-added multifamily property located at 15 Fox Hall in Newark. Fairfield English Village LLC, an affiliate of Fairfield Residential, sold the property for $44.5 million. Foxwood Apartments comprises 31 three- and four-story residential buildings completed in the 1970s. At the time of sale, the property was 96 percent leased. The community features a mix of one-, two- and three-bedroom floor plans averaging 869 square feet. Community amenities include a resort-style pool with sundeck, playground, fitness center, barbecues, picnic areas and landscaped grounds. Mark Thomson, Carl Fiebig, Francis Coyne and Jose Cruz of HFF, along with Robert Stella of Financial & Consulting Services, represented the seller in the transaction. Additionally, James Conley of HFF arranged a $34.3 million acquisition loan for the buyer. The seven-year loan features a fixed-rate with four years of interest-only payments at 75 percent loan-to-value. The loan was provided through Freddie Mac’s Capital Markets Execution Program.
MARLBOROUGH, MASS. — R.W. Holmes Realty has arranged the sale of Mount Royal Office Park, located at the interchange of Route 20 and Interstate 495 in Marlborough. Mount Royal Associates II, an entity of Haynes Management, sold the three-building property to CB Equities Mt Royal for $8.5 million. The buyer plans to rename the property to Knowledge Park @ Marlborough and renovate the 160,000-square-foot property with a new exterior front façade, new signage, an updated fitness center with showers and a common area with a club room. Additionally, the buyer will occupy a portion of the building and plans to lease out suites ranging from 1,600 square feet to 20,000 square feet. Craig Johnson, Garry Holmes and Jim Bartholomew of R.W. Holmes represented the seller and procured the buyer in the transaction.
BELMONT, MASS. — NAI Hunneman has brokered the sale of a multifamily community located at 61-63 Moraine St. in Belmont. CMS Moraine sold the property to an undisclosed buyer for $8 million. Constructed in 1970, the community features 24 apartments in a mix of one- and two-bedroom units. Carl Christie and Dan McGee of NAI Hunneman represented the seller and procured the buyer in the deal.
PERTH AMBOY, N.J. — Marcus & Millichap has facilitated the sale of a retail property located at 599 New Brunswick Ave. in Perth Amboy. An undisclosed developer sold the building to an undisclosed buyer for $2.6 million. Family Dollar and All Brands Furniture occupy the 12,050-square-foot building. Ben Sgambati, Alan Cafiero and David Cafiero of Marcus & Millichap represented the seller in the transaction.
WORCESTER, MASS. — Worcester-based Kelleher & Sadowsky has arranged the sale of a building, located at 695-701 Main St. in Worcester. The Church of Ebenezer acquired the 41,050-square-foot building for an undisclosed price. The building was a former People in Peril (PIP) Shelter. David Cohen and Paul Matt of Kelleher & Sadowsky brokered the deal.
DALLAS — ARA Newmark has arranged the sale of Las Terrazas Apartments, a 230-unit multifamily community located at 14018 Brookgreen Drive in Dallas. Built in 1968, the garden-style property offers amenities such as a pool, playground, laundry facility and resident clubhouse. Kevin O’Boyle, Matt Wideman and Jakob Andersen of ARA Newmark brokered the sale. The buyer, seller and sales price were not disclosed.