Property Type

COLLIERS ARRANGES $6.1M SALE OF 151 CAMPANELLI DRIVE

by admin October 22, 2013

MIDDLEBORO, MASS. — Colliers International has arranged the sale of 151 Campanelli Drive, a 58,510-square-foot, single-story office building in Middleboro, for $6.1 million. Eastern Bank fully occupies the building, which is located about 40 miles south of Boston. Lisa Campoli, Gail McDonough, Anthony Hayes, David Goodhue and Timothy Mulhall of Colliers represented the seller, New Boston Fund, in the transaction. Originally home to Plymouth Savings Bank, 151 Campanelli is triple-net leased to Eastern Bank through 2019. The office property is located near the intersection of I-495 and Route 44 in the 220-acre, master-planned Campanelli Business Park.

October 22, 2013

GHP COMPLETES RENOVATION OF MEDICAL OFFICE BUILDING IN NORWALK

by admin October 22, 2013

NORWALK, CONN. — GHP Office Realty has completed a $500,000 renovation of 83 East Ave., a 40,000-square-foot, multi-tenant medical office building in Norwalk. The project included repainting the façade, providing new landscaping, awnings and elevators, as well as redesigning both building entrances and renovating common areas. The three-story property includes on-site parking and is within close proximity to Norwalk Hospital and Metro North Railroad.

October 22, 2013

Retail Texas

RETAIL SOLUTIONS BROKERS SALE OF 33,626 SF RETAIL CENTER IN AUSTIN

by admin October 22, 2013

AUSTIN, TEXAS — The investment sales division of Austin-based brokerage Retail Solutions has closed the sale of Corporate Center III, a 33,626-square-foot retail asset in Austin. Located at 8868 Research Boulevard, the property is in close proximity to the major thoroughfares of I-35 and Mopac Expressway. Tenants of the fully occupied facility include Uptown Dance and Gracie Barra Brazilian Jiu Jitsu. Alan Rust of Retail Solutions represented the seller, Park Corporate Center LTD, in the transaction. Jung Yu of E-Executive Realty represented the buyer, ATC Center LLC.

October 22, 2013

Multifamily Texas

HUNINGTON TO BREAK GROUND ON 276-UNIT HOUSTON APARTMENT PROPERTY

by admin October 22, 2013

HOUSTON — Hunington Residential Inc. will break ground on Vargos on the Lake, a multifamily rental property in Houston, on Oct. 30. The complex, set to include 276 total units in various one-, two- and three-bedroom configurations, will be constructed on land that was formerly home to Vargos, a high-end steakhouse. Among the planned amenities are two dog parks, three outdoor kitchens, a swimming pool and yoga studio. The property will also incorporate several green living features, including electric vehicle charging spaces, solar panels and energy-efficient water heating. Completion is slated for summer 2014.

October 22, 2013

Industrial Texas

LEE & ASSOCIATES ARRANGES 26,926 SF INDUSTRIAL LEASE IN DALLAS

by admin October 22, 2013

GARLAND, TEXAS — Brokerage firm Lee & Associates has arranged the lease of 26,926 square feet of industrial space in Garland, a northeast suburb of Dallas, for Allied Insulation & Supply Inc. The warehouse facility is located at 2729 Market St., which allows for easy access to Interstate 635. Property features include 18-foot clear height ceilings and five dock-high loading doors. Brett Lewis and Adam Graham of Lee & Associates represented the tenant in the negotiations. Stephen Cooper of NAI Robert Lynn represented the landlord, DCT Industrial.

October 22, 2013

Healthcare Western

ALVARADO MEDICAL PLAZA III CHANGES HANDS IN SAN DIEGO

by admin October 22, 2013

SAN DIEGO — Alvarado Medical Plaza III, a 51,400-square-foot medical office building in San Diego, has sold to TDA Investment Group for an undisclosed sum. The building is located at 6719 Alvarado Road on the campus of Alvarado Hospital Medical Center. It sits adjacent to San Diego State University. The plaza is anchored by an affiliate of Alvarado Hospital that operates an outpatient surgery center. TDA was represented by Evan A. Kovac of Newmark Grubb Knight Frank. The seller, AMP III LLC, was represented by PMB Brokers, an affiliate of Pacific Medical Buildings.

October 22, 2013

Multifamily Western

DENVER APARTMENT COMPLEX SELLS FOR $3.3M

by admin October 22, 2013

DENVER – An 18-unit apartment complex in Denver has sold to a local buyer for $3.3 million. The community is located at 1302 Columbine Street in the Congress Park neighborhood. It was built in 1962. The buyer was represented by Joe Hornstein of Pinnacle Real Estate Advisors. The unnamed seller was represented by Kevin Calame and Matt Lewallen of the same firm.

October 22, 2013

Multifamily Western

LOS ANGELES APARTMENT BUILDING SELLS FOR $1.6M

by admin October 22, 2013

LOS ANGELES – Trion Properties has purchased a 41-unit apartment building in Los Angeles for $1.6 million. The community is located at 412 S. Lake Street in the city’s Westlake district. It was built in the 1920s and is currently vacant. Trion plans to execute an extensive renovation program at the distressed property. The company was represented by William Morris of Newmark Grubb Knight Frank’s Torrance office. The seller was not named.

October 22, 2013

Industrial Western

REDA BASCOM BUYS 16 ACRES IN FONTANA FOR INDUSTRIAL DEVELOPMENT

by admin October 21, 2013

FONTANA, CALIF. — REDA Bascom Ventures has purchased 16 acres of land in Fontana for an undisclosed sum. The joint venture between Real Estate Development Associates (REDA) and The Bascom Group plans to develop a 350,000-square-foot industrial/distribution building on the site. The land is located at 11100 Hemlock Ave. It sits adjacent to the JM Eagle Fontana manufacturing facility. REDA Bascom was represented by Kevin McKenna and Scott Sanders of Colliers International. The seller, JM Eagle, was represented by Rustin Mork, Anthony Dedeaux and Brett Dedeaux of Bingswanger Realty Advisors. REDA is currently looking for more development opportunities in the Inland Empire, Orange County and Los Angeles industrial markets.

October 21, 2013

Hospitality Western

PEAK CAPITAL BUYS THE ARTISAN IN DENVER

by admin October 21, 2013

DENVER — Peak Capital Partners has purchased The Artisan, a 434-unit apartment community in Denver, for an undisclosed sum. The community is located at 10025 E. Girard Ave. It is currently 97 percent occupied.Peak plans to launch a multi-million-dollar capital improvements project at The Artisan that will include exterior and interior renovations, enhanced landscaping and extensive interior upgrades. The seller, Prime Residential, was represented by HFF.

October 21, 2013

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