SOUTH BEND, IND. — Metonic Real Estate Solutions has purchased Castle Point Apartments, a 740-unit apartment complex in South Bend, for an undisclosed sales price. Originally built in three phases between 1974 and 1980, Castle Point Apartments includes one- and two-bedroom apartments ranging in size between 737 and 1,340 square feet. The 20,000-square-foot clubhouse offers residents premier amenities including indoor basketball and tennis courts along with a yoga/aerobics room, tanning room and game room. The property is located within two miles of the University of Notre Dame, St. Mary’s College and Holy Cross College. Metonic plans to make renovations at the property which will include the addition of new appliances and washers and dryers, upgraded kitchen cabinets and counter tops, and new parking garages. The clubhouse will also be renovated with additional amenities for residents. Omaha-based Seldin Co. was selected as the property manager.
EDEN PRAIRIE, MINN. — Dougherty Real Estate Equity Advisors LLC, an affiliate within the Dougherty group of companies, has acquired C.H. Robinson Worldwide Operations Center, a 153,028-square-foot office building in Eden Prairie. The facility is net-leased to C.H. Robinson and is part of its world headquarters campus. The transaction represents an off-market opportunity handled by the CBRE Minneapolis Investment Sales Team of Holtz/Buss/Watts/Welliver/Dusil.
DALLAS — Balfour Beatty Campus Solutions will design, build, finance and operate a $54 million on-campus mixed-use housing and retail development for The University of Texas at Dallas through a public/private partnership. The University town center concept is being developed in partnership with Dallas-based residential and commercial developer Wynne/Jackson. Balfour Beatty Construction, also Dallas-based, will lead the overall design/build team, which also features Jacobs Engineering and Architecture Demarest as the design subcontractors. The new community will include mid-rise apartments and townhomes that will add approximately 600 beds, as well as shops, restaurants and entertainment venues to serve the more than 30,000 students, faculty and staff at the university. The project will be located on a 13-acre tract north and west of the intersection of Synergy Park Boulevard and Floyd Road, adjacent to the proposed site of a future DART rail station. The project will break ground in the coming weeks and will be delivered in August of 2016. Upon completion, Balfour Beatty Communities will operate the housing, and SRS Real Estate Partners will market the retail space.
NEW YORK CITY — Hodges Ward Elliot (HWE) has brokered the sale of The New York EDITION hotel, located at 5 Madison Ave. in New York City. Abu Dhabi Investment Authority (ADIA) purchased the hotel for $343 million from Marriott International. In 2013, Marriott announced its intention to sell three EDITION hotels — London, Miami and New York — to ADIA for a total of $816 million while maintaining long-term management agreements. This sale marks the final closing of that agreement. The Miami Beach EDITION sold in February 2015 and The London EDITION closed in 2014. HWE represented Marriott in all three transactions.
FRASER, MICH. — Colliers International has arranged the sale of an 11,840-square-foot industrial building in Fraser. The property is located on 15 Mile Road. Jack Williams of Colliers International represented the seller, a private trust. The buyer, Royal Oak Ford, intends to use the property as a warehouse to support its main operations.
LOS ANGELES – A 42,968-square-foot industrial building in the Los Angeles submarket of Glendale has sold to a private buyer for $6.9 million. The building is located at 1219 Los Angeles Street. The buyer was represented by Artak Dovlatian of Specialized Realty. The seller, Khuri Enterprises, was represented by CBRE’s David Harding and Greg Geraci.
LOWER MACUNGIE TOWNSHIP, PA. — The Goldenberg Group and TCH Development have started construction on Hamilton Crossings Shopping Center in Lower Macungie Township. Situated on 70 acres of commercial property, the 565,000-square-foot, open-air shopping center will be anchored by Target, as well as the area’s first Costco Wholesale Club and first Whole Foods Market. Additional retailers will include Dick’s Sporting Goods, Nordstrom Rack, Old Navy, Rally House, Five Below, Designer Shoe Warehouse, Pier 1 Imports and Ulta Cosmetics. The development, which is slated to open in July 2016.
SAN DIEGO – Kenamar Group has purchased a 40,222-square-foot industrial building in the Miramar submarket of San Diego for $4.3 million. The space is located at 7737 Kenamar Court. It property is part of Centerpointe Court. The buyer plans to use the property for manufacturing and office space. Kenamar was represented by Marc Lipschitz of Canter Companies. The seller, Providence II Centerpointe, was represented by Evan McDonald and Derek Hulse of Colliers International.
PLAINSBORO, N.J. — Fieldstone Properties has acquired eaves Plainsboro, a 776-unit apartment community located at 60 Fox Run in Plainsboro. AvalonBay Communities sold the property for $117 million, or $150,000 per unit. The asset consists of 58 two-story buildings featuring a total of 624 one-bedroom units and 152 two-bedroom units. On-site amenities include a clubhouse, fitness center, community room with fireplace, outdoor swimming pool with sundeck, tennis courts and jogging trail. Jose Cruz, Kevin O’Hearn, Michael Oliver and Andrew Scandalios of HFF represented the seller in the transaction.
PHOENIX – Arizona DCS Office in Phoenix has sold to TH Stratman for $3.1 million. The space is located at 3310 and 3320 N. 19th Ave. The two-story office building is fully leased to the Arizona Department of Child Safety (DCS) through the end of 2021. The space was built in 1983. It was remodeled in 2011 and 2014. The seller, Fenway Properties, was represented by DTZ’s Eric Wichterman and Mike Coover.