BOULDER, COLO. – The 49-room Quality Inn & Suites in Boulder has sold to a partnership between Basecamp Hotels, Eagle Point Hotel Partners and Filament Hospitality for an undisclosed sum. The hotel is located at 2020 Arapahoe Ave. It is situated next to the University of Colorado and within walking distance of Pearl Street Mall's outdoor shopping, dining and entertainment district. The partnership will renovate and reposition the property to their signature brand, Basecamp Hotel. The brand is currently expanding into other markets across the U.S. The seller, Lewis Properties, was represented by Mike Dube of HREC Investment Advisors' Denver office.
Property Type
NASHVILLE, TENN. — Multi Housing Advisors (MHA) has brokered the $22.8 million sale of Creekstone Apartments, a 316-unit apartment community located at 266 Stewarts Ferry Pike in Nashville. Built in 1987, the apartment community features a pool, volleyball courts, tennis courts, fitness center and a business center. Brett Kingman of MHA’s Atlanta office represented the seller, Creekstone TN LLC, in the transaction. Monsey, N.Y.-based White Eagle Property Group LLC acquired the property.
WILKES BARRE, PA. — Marcus & Millichap has brokered the sale of Midtown Village in downtown Wilkes Barre. A Wyoming Valley private investor acquired the 25,583-square-foot shopping center from an affiliate of Wilkes Barre-based Humford Equities. Located at 41 South Main St., the shopping center was developed in 1978. Jeff Algatt, Dean Zang and Mark Taylor of Marcus & Millichap represented the seller. Additionally, Algatt secured the buyer.
SAN ANTONIO — Marcus & Millichap has arranged the sale of Holiday Inn Express & Suites San Antonio South, a 66-room hospitality property. The property is located at 11400 Southeast Loop 410 in San Antonio. The three-story hotel was built in 2008 near downtown San Antonio and the San Antonio International Airport. Allan Miller, Robert Arzola and Chris Gomes of Marcus & Millichap’s San Antonio and Dallas offices marketed the property on behalf of the seller, a limited liability company. Miller also represented the buyer, another limited liability company.
SAN DIEGO – A 1.5-acre parcel of land in the San Diego submarket of North Park has sold to TR Hale LLC for $7.7 million. The parcel is located at 2030 El Cajon Blvd. The buyer plans to develop an upscale, mixed-use apartment project on the site, which was fully entitled by the seller for up to 180 units. The seller was AmProp North Park LLC. The transaction was executed by Victor Krebs and Gunder Creager of Colliers International.
NAPLES, FLA. — HFF has arranged the sale of Crossroads Market and Neapolitan Way, two Publix-anchored shopping centers in Naples. Danny Finkle, Luis Castillo and Kimberly Flores led the HFF investment sales team that represented the seller, Madison Marquette Retail Services, in the transaction. A private real estate fund advised by Crow Holdings Capital-Real Estate purchased the two assets. Crossroads Market is located at 6029 Pine Ridge Road and is 98.4 percent leased to tenants such as Publix, Walgreens, Crunch, Physicians Regional Health Care and Chase Bank. Neapolitan Way is located at 4601 Tamiami Trail and is 92.9 percent leased to tenants including Publix, Walgreens and Bill Smith Appliances.
SAN ANTONIO & SPRING, TEXAS — The Woodmont Co. has arranged two, five-year leases with Altitude Trampoline Park for new locations in San Antonio and Spring. Joseph Williams of The Woodmont Co. represented the tenant, Altitude Trampoline Park, in both transactions. The company will occupy 27,428 square feet at Heubner Oaks Shopping Center in San Antonio and 41,000 square feet at Spring Cypress Shopping Center in Spring. Both locations are under construction and plan to open late this year.
PHOENIX – The 114-room Holiday Inn & Suites Phoenix has received a $9.3-million loan. The select-service hotel is located two miles south of the Phoenix Sky Harbor Airport and two miles west of Arizona State University. It opened in 2010. The non-recourse, fixed-rate, CMBS first-mortgage loan was secured by KeyBank Real Estate Capital.
JACKSONVILLE, FLA. — Greystone has provided a $16.5 million CMBS loan to refinance Eden’s Edge, a 244-unit multifamily property in Jacksonville. The gated apartment community features a swimming pool, resident lounge, business center, fitness center and a playground. Brian Fintz of Greystone’s New York office originated the five-year loan on behalf of the borrower, Real Capital Solutions.
CHICAGO, SKOKIE AND DES PLAINES, ILL. — The Missner Group has arranged three industrial leases in Chicago, Skokie and Des Plaines, Ill. In Chicago transaction, FHC Marketing leased 33,817 square feet of industrial space within 4711 N. Lamon Ave. FHC specializes in point-of-purchase marketing by designing and producing custom store fixtures, POP displays, merchandisers, sign holders and graphics. In the Skokie transaction, Conya Global renewed its 4,000 square foot space at 5520 W. Touhy Ave. The company is a wholesale supplier and designer of quality urban women's clothing. In the Des Plaines transaction, Cleanse Culture Inc. leased a 5,646-square-foot industrial space at 500 E. Touhy Ave. Cleanse Culture provides 100 percent organic, vegan, gluten-free, raw, cold-pressed?juices, smoothies, raw food and cleanses. June McCrory of The Missner Group, which owns each of the properties, represented management in the lease negotiations.