more_sales_and_leases

CBRE Brokers $32.6M Sale of Apartment Community in Metro Orlando

by John Nelson October 13, 2016

KISSIMMEE, FLA. — CBRE has brokered the $32.6 million sale of the Valencian Apartments, a 366-unit apartment community located in 1400 W. Donegan Ave. in Kissimmee, a suburb of Orlando. The Michaelson Group purchased the property from Insula Capital. Shelton Granade, Luke Wickham and Justin Basquill of CBRE represented Insula Capital in the transaction. Valencian Apartments features one-, two- and three-bedroom residences with screened-in patios and modern kitchens. The two-story community recently underwent a $2.8 million renovation to the exterior and in-unit amenities, including upgrades to the façade, clubhouse and the three resort-style pools.

October 13, 2016

Maryland Office Southeast

Comcast to Relocate 140 Employees to New Office at McHenry Row in Baltimore

by John Nelson October 13, 2016

BALTIMORE — Comcast Corp. has signed a lease with 28 Walker Development for 28,000 square feet of office space within McHenry Row, a 20-acre mixed-use project in Baltimore. Comcast plans to relocate 140 of its employees from a regional corporate office in the White Marsh section of Baltimore County to the new space within the project’s Banner Building, a 215,000-square-foot office building located at 1215 E. Fort Ave. McHenry Row features 300,000 square feet of office space, a Harris Teeter grocery store, retail, restaurants and 250 apartment units. Retailers opening soon at McHenry Row include Samos Greek Island Grill, Ruby 8 Noodle and Sushi and Diamondback Brewing Co., a locally owned craft brewery. Joe Dolan and David Fritz of NAI KLNB represented 28 Walker Development in the lease deal, and Richie Blue of Blue & Obrecht Realty and Jeff Flynn of JLL represented Comcast. The transaction brings the Banner Building to full occupancy. Other office tenants within the Banner Building include Under Armour, Gilbane Construction, Kimley Horn, Maryland Auto Insurance Fund, Martin-Lauer Associates, Mindgrub, Navigator Management Partners and the Ulman Cancer Fund for Young Adults.

October 13, 2016

Georgia Office Southeast

Avison Young Brokers $14M Sale of Three Office Buildings in Alpharetta

by John Nelson October 13, 2016

ALPHARETTA, GA. — Avison Young’s Atlanta office has brokered the $14 million sale of Royal 400, a three-building portfolio of single-story office buildings situated within an office park in Alpharetta. Totaling 137,600 square feet on 22.9 acres, Royal 400 was 80.5 percent leased at the time of sale to national and regional tenants. Matt Tritschler, Steve Morgan and Stephanie Marion of Avison Young represented the seller, NNN Royal 400 LLC, in the transaction.

October 13, 2016

California Industrial Western

LEI, Vista Investment Acquire R&D Building in San Jose

by Nellie Day October 13, 2016

SAN JOSE, CALIF. — A joint venture between Lowe Enterprises Investors (LEI) and Vista Investment Group has acquired a 92,864-square-foot office/research and development building in San Jose for an undisclosed sum. The building is located at 2581 Junction Ave. Concurrent with the closing, Thinfilm Electronics entered into a long-term lease to occupy the building. The lease includes a 22,000-square-foot clean room that the company will use to produce electronics products. The new facility will support the company’s expansion as it increases production. Renovations to the space will commence immediately, with occupancy scheduled for the first quarter of 2017. LEI’s affiliate, Lowe Enterprises Real Estate Group, provided local acquisition and leasing services and will operate the property. ATREG represented the seller.

October 13, 2016

California Hospitality Western

Ashford Hospitality Trust Sells Two Palm Desert Hotels for $36M

by Nellie Day October 12, 2016

PALM DESERT, CALIF. — Ashford Hospitality Trust has sold a two-hotel portfolio in Palm Desert for $36 million. The transaction includes the 151-room Courtyard Palm Desert and the 130-room Residence Inn Palm Desert. The portfolio achieved RevPAR (revenue per available room) of $92 with an occupancy rate of 74 percent and ADR (average daily rate) of $123. The portfolio also had an existing debt balance of about $24 million that was assumed by the buyer.

October 12, 2016

Illinois Midwest Mixed-Use Office Retail

Marcus & Millichap Arranges Sale of 5,166 SF Mixed-Use Property in Chicago

by Amy Works October 12, 2016

CHICAGO — Marcus & Millichap has brokered the sale of Southport Corridor Mixed-Use, a mixed-use property located at 1362 W. Belmont Ave. in Chicago. An individual/personal trust sold the 5,166-square-foot property to a limited liability company for an undisclosed price. The two-story building was vacant at the time of sale. Brewster Hague, Sean Sharko and Austin Weisenback of Marcus & Millichap represented the seller and buyer in the deal.

October 12, 2016

Multifamily New York Northeast

Pacolet Milliken Enterprises Acquires 63-Unit Apartment Building in Brooklyn for $52M

by Amy Works October 12, 2016

NEW YORK CITY — Pacolet Milliken Enterprises, a privately owned investment company controlled by the shareholders of Milliken & Co., has acquired an apartment building located at 341 Eastern Parkway in the Crown Heights section of Brooklyn. An undisclosed seller sold the building for $52 million. The newly constructed property features 63 apartments and ground-floor retail leased to Capital One, Starbucks Coffee and Statcare Urgent Medical Care. Scott Burk of Eastern Consolidated represented the buyer, while Matt Sparks and Alexandrea Rossland, also of Eastern Consolidated, along with Bluejay Management represented the seller in the transaction.

October 12, 2016

Multifamily New Jersey Northeast

HFF Brokers Sale of 104-Unit Apartment Building in Harrison, New Jersey

by Amy Works October 12, 2016

HARRISON, N.J. — HFF has arranged the sale of 221 Bergen, an apartment building located at 221 Bergen St. in Harrison. The TAK Group acquired the 104-unit property from a joint venture between The Hampshire Companies and CrownPoint Development Group for an undisclosed price. Constructed in 2015, the property features studio, one- and two-bedroom market-rate units with high-end finishes, including stainless steel appliances, quartz countertops, wood cabinetry, pendant lighting, faux wood plank flooring and in-unit washers and dryers. On-site amenities include a 24-hour fitness center, resident lounge, business center, smartphone security/intercom system, remote-operated garage parking and a furnished rooftop terrace. Jose Cruz, Kevin O’Hearn, Stephen Simonelli, Michael Oliver and Marc Duval of HFF represented the seller in the deal.

October 12, 2016

New Jersey Northeast Retail

Marcus & Millichap Arranges $3.5M Sale of Retail Property in Martinsville, New Jersey

by Amy Works October 12, 2016

MARTINSVILLE, N.J. — Marcus & Millichap has brokered the sale of a retail property located on Washington Valley Road in Martinsville. A private investor acquired the property for $3.5 million. The strip center features 15,103 square feet of retail space. Michael Lombardi and Joseph Cunder of Marcus & Millichap represented the seller, a private investor, and the buyer in the transaction.

October 12, 2016

Mississippi Retail Southeast

NAI UCR Properties Brokers Sale of Two Net-Leased Retail Properties in Metro Jackson for $3.8M

by John Nelson October 12, 2016

RIDGELAND AND BYRAM, MISS. — NAI UCR Properties has brokered the sale of two triple-net leased retail properties in the metro Jackson area totaling $3.8 million. The properties include a multi-tenant, 21,000-square-foot center located at 950 E. County Line Road in Ridgeland and a 4,500-square-foot, single-tenant facility leased to Drayer Physical Therapy Institute at 7213 Siwell Road in Byram. Micah McCullough of NAI UCR represented the seller, a private local investor.

October 12, 2016

Newer Posts

Older Posts