BIRMINGHAM, ALA. – The 113-unit Sandpiper, an apartment complex located at 741 Barcelona Ct. in Birmingham, has been sold for $1.87 million. Jimmy Adams of Southeast Apartment Partners' Birmingham, Ala., office represented the seller, 741 Barcelona Court Holdings, in the transaction and procured the buyer, Sandpiper HLD.
KNOXVILLE, TENN. — Bob Thorton of Knoxville-based Baker Realty Co. has negotiated four lease transactions in Knoxville, totaling 155,000 square feet. The transactions include: Guardian Building Products leasing the 37,210-square-foot Cedar Bluff Building, a distribution center, from NatKnox; Batesville Casket leasing 9,797 square feet of office and warehouse space from Sam Farrow; J.B. Hunt Transport leasing 18,000 square feet of warehouse space from J&J Properties; and ABC Supply signing a 100,000-square-foot lease for warehouse space from Mullins, D.C. Thorton represented both parties in all four transactions.
EAST LANSING, MICH. — Walker & Dunlop LLC has arranged the financing for a 220-unit student housing development in East Lansing, Mich. An additional student housing development will be located in Louisiana. Will Baker of Walker & Dunlop arranged the financing, while Kayne Anderson Real Estate Advisers originated the loan. The loan has a 10-year term with one-year interest and a 30-year amortization schedule.
WITCHITA, KAN. — Sarasota-Fla.-based LUX Building, LLC has purchased Protection One, a seven-story office building, located in downtown Witchita, Kan., for an undisclosed amount. LUX Building plans to maintain the building's original character, and architectural features will be maintained and repurposed through a modern design.
CLEVELAND– Cleveland-based Luttner Real Estate Investment Services has arranged the sale of two freestanding Sherwin-Williams stores, located in the Midwest, for approximately $1.5 million and $1.4 million. Mark Luttner of Luttner Real Estate Investment Services represented the seller, WXZ Development Group. Luttner also procured the buyer, a private investment group.
QUEENS, N.Y. — A 9,767-square-foot retail property, located at 163-30 Cross Bay Blvd. in Queens, has been sold for $14 million. American Realty Capital New York Recovery REIT purchased the property, which is fully leased to Duane Reade.
EAST FISHKILL, N.Y. — Colliers International has arranged the $4.5 million sale of a 1 million-square-foot office complex in East Fishkill, N.Y. The property consists of five buildings. Gerard Hallock and Stephen Westerberg of Colliers International's Stamford, Ct. office, along with Prudential Serls Prime Properties Commercial Group, represented the undisclosed seller. The buyer was China-based Linuo Power Group.
NORTHVALE, N.J. — Weichert Commercial Brokerage Inc. has completed the sale of an 80,000-square-foot industrial warehouse building, located at 108 Fairway Ct. in Northvale, N.J., for $6 million. Sang Oak Ra of Weichert represented the buyer, Pointe International, in the transaction. Jim Tully of CBRE represented the seller.
DALLAS — Dallas-based Caddo Holdings has acquired a three-building portfolio in Dallas that consists of approximately 281,000 square feet of office and retail space. Caddo purchased the buildings — located at 2811 McKinney Ave., 2501 Cedar Springs Ave. and 3400 Carlisle St. — from an undisclosed Texas-based seller. Creighton Stark of Colliers International's Dallas office negotiated the transaction. American Bank of Texas provided financing for the portfolio. Caddo will manage the portfolio and Nathan Durham of PM Realty Group's Dallas office will handle the portfolio's leasing.
FORT WORTH — McCann Realty Partners has acquired the 264-unit Wynhaven at Westpoint Apartments, a garden-style community located at 1200 Scenic Vista Dr. in Fort Worth. The community will be renamed Westpoint at Scenic Vista and will be managed by Alpharetta, Ga.-based Pegasus Residential. The acquisition was partially funded by a Freddie Mac mortgage loan with a 7-year term.