LOS ANGELES – A multifamily portfolio that contained 60 units in two Los Angeles-area apartment complexes sold to a private investor for $2.8 million. The properties are located at 414 Witmer and 457-461 Witmer Street in Los Angeles’ Westlake District. The 9,196-square-foot building contains 20 units, while the 15,368-square-foot building contains 40 units. Lane Schwartz and Thomas Jonsson of Marcus & Millichap’s West Los Angeles office represented both the buyer and the seller, also a private investor.
SAN DIEGO – A 13-unit apartment complex in the San Diego submarket of Mission Beach has sold to Sefer Tahiraj for $2.3 million. The 5,358-square-foot property is located at 3414 Mission Blvd. The buyer was represented by Terry Taylor of Apartment Consultants, Inc. The seller, David N. Catton, was represented by Joe Ramos of South Coast Commercial.
RALEIGH, N.C. — Woodfield Investments has broken ground on the 256-unit Woodfield Creekstone, located at the intersection of South Miami Boulevard and Hopson Road in Raleigh. Amenities will include a resort-style pool, clubhouse, landscaped grounds and garage parking. The Carlyle Group and US Bank are financial partners for the project, CF Evans Construction is providing general construction services and the project's architectural design is by The Housing Studio. Greystar will manage the property. Completion is slated for the summer of 2012.
VIRGINIA BEACH, VA. — Spring Water has purchased the 183,814-square-foot former U.S. Foodservice building, located at the intersection of Diamond Springs Road and Northampton Boulevard in Virginia Beach, from USF Propco II & U.S. Foodservice for $5.2 million. The buyer plans to demolish the industrial property and construct apartments on the site. Robert Thornton and William Throne of Cushman & Wakefield/Thalhimer's Virginia Beach office represented the buyer in the transaction. CBRE represented the seller.
ORANGE CITY, FLA. — A 20,000-square-foot Office Depot, located on Saxon Boulevard in Orange City, has been sold for $3.15 million. Daryl Carter of Orlando, Fla.-based Maury L. Carter & Associates, along with William Snow, II, of SRS Real Estate Parters' Orlando office, represented Saxon/Broward Ltd., the seller, in the transaction. Mark Thiel of Marcus & Millichap's San Diego office represented the buyer.
TAMPA, FLA. — Institutional Property Advisors, a division of Marcus & Millichap, has negotiated the REO sale of the 228-unit Rivertree Landing, an apartment complex located at 6909 Indian River Rd. in Tampa. Jamie May and Ken Hoff of IPA's Tampa office represented the seller in the transaction. The property is currently undergoing a $550,000 renovation, including both interior and exterior upgrades.
TAMPA, FLA. — Humana has signed a 52,433-square-foot lease for office space at MetWest One, located at 4030 W. Boy Scout Blvd. in Tampa. Approximately 250 associates are scheduled to move into the building in the second quarter of 2012. Leigh Anne Johnson and Thomas Dyer of UGL Equis' Tampa office represented the tenant in the lease transaction. Angela Odell of Taylor & Mathis' Tampa office represented the landlord, MetLife.
NORTH JACKSON, OHIO —Marcus & Millichap has brokered the $12.4 million sale of a 307,315-square-foot distribution facility in North Jackson that is net-leased by the Gerdau Corp., a long steel production company. The lease has five years remaining. John Godwin, Deno Bistolarides and Ryan Vinco of the Detroit office of Marcus & Millichap represented the buyer and seller. The property is located at 382 Rosemont Rd.
FORT WAYNE, IND. — Wochinske Investments LLC has purchased 11,500 square feet of industrial space at 2720 Goshen Rd. in Fort Wayne. The sales price was undisclosed. Carolyn Spake-Leeper and Karen Spake of CBRE / Sturges represented the seller, RMD Resources LLC, in the transaction. They also represented the buyer.
JERICHO, N.Y. — Airport Plazas, a specialized developer and operator of airport retail plazas, has signed a 25-year lease to redevelop about six acres of property at the entrance of JFK Airport. The project includes a 20,000-square-foot retail building, about 200 parking spaces and a fueling center. The $11 million project is scheduled to be completed this September.