HOUSTON — Carroll Organization has acquired the 267-unit Waterford Place, an apartment community located at 3125 Crestdale Dr. in Houston. The complex will soon be re-branded as ARIUM Fall Creek. The property features chef's kitchens, a resort-style pool, garages, a WiFi computer lounge and a fitness center. The community was financed through Carroll Fund I, a private fund, and Carroll Management Group is managing the property.
COLLEGE STATION — Hunington Properties has brokered the sale of the 7,691-square-foot College Station Shopping Center, located on University Drive in College Station. The property is fully leased to national tenants including Papa John's Pizza and David's Bridal. Sandy Aron of Hunington Properties represented the seller in the transaction.
SAN DIEGO – The 32-unit Del Sol apartment community in San Diego has sold to Del Sol Apartments LP for $3.3 million. The community was built in 1989 along 33rd Street in the city’s Golden Hill area near Downtown. Atlas Management Group will act as a general partner for this property. The buyer was represented by Steve Huffman of Hendricks & Partners’ San Diego office. The seller was represented by Chad Bramwell of the same office.
PHOENIX — Clocktower Corporate Centre, a 109,779-square-foot office property in Phoenix, has sold to Corporate Centre Limited Partnership for $2.95 million. The office is located at 7776 S. Pointe Parkway West. It was 37 percent occupied at the time of sale. The seller, Marketview Properties LLC, was represented by Eric Wichterman and Mike Coover with Cassidy Turley BRE Commercial’s Capital Markets Group.
VISTA, CALIF. — A 36,404-square-foot industrial building in Vista has sold to Nubs Plastics for $2.39 million. It is located at 991 Park Center Drive. Nubs was represented by Glenn Stokoe of Lee & Associates–North San Diego County office in Carlsbad. The seller, Hirschbein Trust, was represented by CB Richard Ellis in this transaction.
CHESAPEAKE, VA. — JRK Investors has acquired the 374-unit Empirian Chesapeake, a garden style apartment complex located at 150 Coveside Ln. in Chesapeake, in a sale in conjunction with Auction.com for $55.12 million. Amenities include a business center, clubhouse, swimming pool, playground and laundry facilities. Jordan McCarley of Southeast Apartment Partners represented the seller in the transaction.
ROSWELL, GA. — A joint venture between Cortland Partners and Harbert Management Corp. has acquired the 664-unit Centennial Ridge, an institutionally-developed community located at 100 Calibre Creek Pkwy. in Roswell, for $38.75 million. The buyers plan to invest $10.6 million to renovate the property. Renovations will include resident amenity improvements, energy efficient upgrades and renovated kitchens, including new granite countertops. Plans also include a redevelopment of the leasing center and clubhouse, which will include a commercial grade health club facility. Current amenities include a lake, jogging trails, two swimming pools, four tennis courts and an outdoor kitchen, fireplace and gazebo. Once renovations are complete, the property will be rebranded as Park 83.
MIAMI — The $30 million, 100-unit Dr. Barbara Carey-Shuler Manor, an affordable housing complex located at 1400 NW 54th St. in Miami, has opened. Half of the units are designated for formerly homeless families and the other half are set aside for elderly residents and low-income families earning at or below 60 percent of the area's median income. Amenities include an exercise facility and community room. Additionally, there is 16,000 square feet of ground-floor office space. Carrfour Supportive Housing developed the property.
GRIFFIN, GA. — The Kroger Co. and Collins & Arnold have broken ground on a $12 million, 94,000-square-foot Kroger and an 18-pump Kroger Fuel Center at the 102,000-square-foot Griffin Pavilion, located at GA Highway 16 and GA Highway 19/41 in Griffin. The Sofran Group developed the center, which includes tenants such as Lowe's Home Improvement, O'Reilly Auto Parts and Wells Fargo Bank. Completion is slated for November 2012.
GAITHERSBURG AND FREDERICK, MD. — Fitness First has purchased two properties for a total of $5.34 million. The company acquired a 17,670-square-foot flex/retail building, located at 18810 Woodfield Rd. in Gaithersburg from Sumo Holdings Maryland. Bill Quay and Ro Waldron of McShea represented the seller in the transaction. In Frederick, the company purchased the 23,011-square-foot former Frederick Athletic Club, located at 5245 Westview Dr., from Even Par. Rick Farren and Brad Benna of McShea represented the seller. Christopher Coccaro, Jeff Massie and Nick Finelli of Broad Street represented the buyer in both transactions. The former Frederick Athletic Club will continue to operate and gradual changes will be made to transition to the Fitness First model. The inside of the Woodfield property will be reconstructed and open by year's end.
