DRAPER, UTAH — Hilton has premiered the 121-room Homewood Suites by Hilton Salt Lake City Draper. The hotel is located in the Salt Lake City submarket of Draper. West 77 Partners developed and owns the property, which The Hotel Group will manage. It is situated near Salt Lake City International Airport, Loveland Living Planet Aquarium, Rio Tinto Stadium, Hale Centre Theatre, Timpanogos Cave National Monument and Cowabunga Bay Water Park.
ELKHART, TEXAS — Marcus & Millichap has brokered the sale of a 9,180-square-foot retail property in Elkhart, a city roughly halfway between Houston and Dallas. Family Dollar is the sole tenant of the property, located at 212 N. U.S. Highway 287, and recently extended the original 10-year, double-net lease until 2022. Geoff Ficke and Chris Adams of Marcus & Millichap represented the seller, an undisclosed limited liability company. Other terms of the sale were not released.
HOUSTON — Colvill Office Properties has finalized four new leases at 811 Louisiana, a 577,735-square-foot office tower in Houston’s Central Business District. Among the tenants represented in the newly secured leases are global advisory firm Willis Towers Watson, which leased a 19,222-square-foot space, and law firm McFarland PLLC, which leased a 6,150-square-foot space. Paula Bruns, Damon Thames and Chip Colvill of Colvill represented the landlord, Busycon Properties LLC, in both deals. Jeff Cairns, Bob Denney and Brandon Clarke of CBRE represented Willis Towers Watson. Kevin Kushner and William Padon of CBRE represented McFarland.
SHENANDOAH, TEXAS — Cypressbrook Co. has arranged the lease of 5,649 square feet of flex space at Portofino Tech Center, located at 19241 David Memorial Drive in Shenandoah, a city roughly 30 miles north of Houston. Denise Ksiazek of Cypressbrook represented the tenant, Cole Health Inc., a pediatrics and rehabilitation practice, in the transaction. Greg Tilton of Transwestern represented the landlord, Vara-Portofino Tech Center LLC.
TAMPA, FLA. — Independence Realty Trust Inc. has purchased an undisclosed 216-unit apartment community in Tampa’s Northdale neighborhood for $29.8 million. The REIT purchased the asset using available cash and its line of credit. Built in 1985 and renovated in 2016, the property features one- and two-bedroom units averaging 925 square feet. The asset was 93 percent occupied at the time of sale and averaged $1,192 per month in rent for the three months ending Jan. 31. The seller was undisclosed.
CHARLOTTE, N.C. — Portman Holdings has added BDO USA LLP, an accounting and consulting firm, to the tenant roster at 615 South College in Uptown Charlotte. The 19-story office building is nearing completion, and BDO expects to occupy its new space as early as August. Located at Lynx Blue Line’s Stonewall Station, the 370,000-square-foot office building is situated near Whole Foods Market, the Charlotte Convention Center and Westin Charlotte. Travis Garland of Portman Holdings and John Ball of Trinity Partners represented the ownership in the lease transaction, and Brent Royall of Colliers International represented BDO. Other committed tenants include Regions Bank, which pre-leased 60,000 square feet of space in 2016.
MELBOURNE, FLA. — Franklin Street has brokered the $8 million sale of Bridgewater Pointe Apartments, a 100-unit multifamily community located at 151 Eber Road in Melbourne. Robert Goldfinger and Matthew Kesterson of Franklin Street represented the buyer and the seller, both private investors, in the transaction. Built in 1987, the two-story apartment community features a swimming pool, clubhouse, fitness center and a business center. The property was 96 percent occupied at the time of sale. Lonnie Kitchen of Franklin Street provided insurance services for the buyer, which selected Franklin Street Management to manage the asset. Franklin Street represented the same buyer last year in its $9.9 million acquisition of Seastone Luxury Apartments in Tampa.
BATAVIA, ILL. — Midwest Industrial Funds has purchased a four-building industrial portfolio from a private seller. The purchase price was not disclosed. The properties total 106,000 square feet and are all located in Batavia, a suburb of Chicago. The addresses are 1705-1775 Hubbard Ave., 900 Paramount Parkway, 902 Paramount Parkway and 950 Paramount Parkway in the Fox Valley Center for Industry Business Park. The properties range from 7,000 square feet to 18,000 square feet. The portfolio was approximately 75 percent leased to eight different tenants at the time of acquisition. Midwest Industrial plans to complete improvements to the parking lot, exterior façade and interior units.
MERIDEN, CONN. — Horvath & Tremblay has arranged the sale of a retail property located at the intersection of Broad Street, Anne Street and Gale Avenue in Meriden. An undisclosed buyer purchased the 14,000-square-foot property for $9.3 million. CVS/pharmacy will occupy the newly constructed property under a 25-year, triple-net lease with six five-year extension options. Bob Horvath and Todd Tremblay of Horvath & Tremblay of represented the undisclosed seller and procured the buyer in the transaction.
NEW YORK CITY — Cushman & Wakefield has negotiated the sale of a development site located at 233 Butler St. in the Gowanus section of Brooklyn. Private investors sold the property to an undisclosed buyer for $9.5 million, or $300 per buildable square foot. The development site is zoned M1-2, which allows for commercial development of 31,800 square feet. The site is currently improved by a two-story, 13,447-square-foot structure, which was once home to the Brooklyn headquarters for American Society for the Prevention of Cruelty to Animals. A majority of the land was vacant at the time of sale, while 5,400 square feet of building space will remain leased until September. Winfield Clifford of Cushman & Wakefield brokered the transaction.