DENVER – A 30-unit apartment building located at 1225 Colorado Blvd. in Denver has sold to an unnamed buyer for $2,125,000. Kyle Malnati of Madison Commercial Properties represented the buyer. The seller was represented by John Laratta of Hendricks & Partners.
DENVER – Halliburton has committed to creating a major sand terminal that will accommodate more than 500 of the company’s employees inside the Great Western Industrial Park in the Denver-Julesburg (DJ) Basin. This new project will serve energy production demand in the DJ Basin and Niobrara Formation. The sand storage facilities will be built on a 54-acre site within the park. Construction will commence this quarter, while operations will begin in the second quarter. The Great Western Industrial Park was developed by The Broe Group.
DENVER – One Lincoln Park, which consists of four retail condos, sold to White Crown Federal Credit Union for $1,254,795. The condos are located at 2001 Lincoln Street in Denver. The property was sold by EO, LLC dba Tower One Venture. White Crown was represented by Kittie Hook of Cassidy Turley Fuller Real Estate.
TAMARAC AND FORT LAUDERDALE, FLA. —A four-property industrial portfolio, located in Tamarac and Fort Lauderdale, has sold for $18.9 million. The properties include the 125,000-square-foot Tamarac Business Center, located at 6701 Nob Hill Rd. in Tamarac; the 49,100-square-foot Tamarac Commerce Center, located at 6501 Nob Hill Rd. in Tamarac; the 10,000-square-foot Sunny Morning Foods, located at 5330 NW 35th Ave. in Fort Lauderdale; and the 24,490-square-foot Sun Sentinel Building, located at 3585 Nw 54th St. in Fort Lauderdale. Malcolm Butters of Coconut Creek, Fla.-based Butters Realty & Management, along with Douglas Mandel of Marcus & Millichap's Fort Lauderdale office, represented the seller, an affiliate of the Butters family, in the transaction. The buyer was Denver-based Industrial Income Trust.
BOCA RATON, FLA. — Broken Sound Club has planned the $13.2 million, Phase II expansion of its 100,000-square-foot country club, located at 2401 Willow Springs Dr. in Boca Raton. The $10.5 million first phase was completed last summer. Phase II will complete the Wellness Center and Spa Cafe, which includes the expansion of the current fitness center and spa and the addition of aerobics rooms, a spinning room with an interactive picture wall, a teen lounge and a cyber cafe. The Aquatic Center will double in size, and water features, bridges, a water park-style children's pool and environmentally-friendly geothermal pool heating will be added. Additionally, a new Bistro Grill will be added with indoor/outdoor seating for more than 150 people. Peacock + Lewis is designing the new facilities and the Weitz Co. is the general contractor. Work is slated to begin in May, with completion projected for November 2012.
ATLANTA — Cushman & Wakefield has arranged the $6 million sale of the 106,678-square-foot Falls Pointe, an office building located at 600 Morgan Falls Rd. in Atlanta. The property is fully leased to one tenant. Stewart Calhoun, David Meline, Samir Idris and Casey Masters of Cushman & Wakefield's Atlanta office represented Parkway Properties, the seller, in the transaction. The buyer, Southeast Land Investments Partners, was self-represented.
PORT ST. LUCIE, FLA. — The 511-unit Storage West, a storage facility located at 525 SW S. Macedo Blvd. in Port St. Lucie, has sold for $3.1 million. Boyd Bradfield of NAI Southcoast's Stuart, Fla., office represented the seller, Storage West LLC, in the transaction and procured the buyer, Jacksonville, Fla.-based Storage West Group LLC.
RALEIGH, N.C. — Boston-based New Boston Fund has purchased the 99,181-square-foot Carolina Place, a five-story office building located at 2626 Glenwood Ave. in Raleigh, from a client advised by Invesco Real Estate. The property is currently 86 percent leased to tenants including Cherry, Bekaert and Holland and Scott Madden. Ben Kilgore of CBRE's Raleigh office represented the seller in the transaction.
LEAWOOD, KAN. — Glimcher Realty Trust has closed on a $77 million mortgage loan secured by Town Center Plaza in Leawood. The 15-year loan has a fixed interest rate of 5 percent. The loan proceeds were used to retire the $70 million term loan in connection with completing the purchase of Leawood in December 2011. The remaining proceeds were used to reduce outstanding borrowings on the company's credit facility.
COLUMBUS, OHIO — Interstate Hotels & Resorts and joint venture partner Waramaug Hospitality LLC have acquired the 300-room Crowne Plaza Columbus North hotel, along with an unnamed private investment group, for an undisclosed amount. The hotel will remain as a Crowne Plaza and immediately undergo a $5.25 million renovation. ArInterstate is owned by a joint venture between subsidiaries of Thayer Lodging and Jin Jiang.