more_sales_and_leases

AvalonBay Communities Completes Sale of 312-Unit Apartment Community in Lawrenceville, New Jersey

by Amy Works November 8, 2017

LAWRENCEVILLE, N.J. — AvalonBay Communities has completed the disposition of Avalon Run East, a garden-style apartment community located at 100 Avalon Bay Drive in Lawrenceville. A joint venture between Rockpoint Group and The Brooksville Co. acquired the property free and clear of existing debt for an undisclosed price. Situated on 69 acres, Avalon Run East features 312 apartments in a mix of one-, two- and three-bedroom units averaging 1,094 square feet. Residences feature gas fireplaces, direct access to personal garages, patios/balconies, in-unit washer and dryers, individual alarm systems and walk-in closets. On-site community amenities include a heated outdoor pool, tennis courts, a playground, picnic and grilling areas, a fully equipped fitness center, an indoor basketball court and a resident lounge. Jose Cruz, Kevin O’Hearn, Michael Oliver and Stephen Simonelli of HFF represented the seller in the deal.

November 8, 2017

California Office Western

Incipio Group Leases Office Space in Irvine

by Nellie Day November 7, 2017

IRVINE, CALIF. — Incipio Group has leased 70,000 square feet of office space at the Park Place mixed-use property in Irvine. The 105-acre campus is located at 3347 Michelson Drive. The mobile device accessories designer and manufacturer will utilize the space for its global corporate headquarters. JLL’s Byron Foss, Wade Tift and Nick Carey represented Incipio Group in the lease, while Bob Thagard of Cushman & Wakefield represented the landlord, LBA Realty, in this transaction.

November 7, 2017

Multifamily New York Northeast

Cushman & Wakefield Arranges $28.9M Sale of Multifamily Building in Manhattan

by Amy Works November 7, 2017

NEW YORK CITY — Cushman & Wakefield has negotiated the sale of an apartment building located at 110 W. 69th St. on Manhattan’s Upper West Side. A private family owner sold the building to an Upper West Side investor for $28.9 million. The nine-story, 30,159-square-foot building features 36 apartments, 27 of which are free-market or vacant. Paul Smadbeck, Hall Oster, Teddy Galligan, Conrad Martin and Bryan Smadbeck of Cushman & Wakefield represented the seller and buyer in the transaction.

November 7, 2017

New Jersey Northeast Retail

CBRE Arranges $6.5M Sale of Retail Store in Bellmawr, New Jersey

by Amy Works November 7, 2017

BELLMAWR, N.J. — CBRE has facilitated the sale of a newly constructed retail property located at 12 S. Black Horse Pike in Bellmawr. Hammonton 1 LLC acquired the property from Mark Bellmawr LLC for $6.5 million. Royal Farms occupies the property, which is slated to open this month. The location is the first New Jersey location for the Baltimore-based convenience and gas store company. Matthew Gorman and Michael Shover of CBRE represented the seller, while Stephen Schrenk, also of CBRE, procured the buyer in the 1031 exchange transaction.

November 7, 2017

Connecticut Industrial Northeast

Pearce Real Estate Brokers Sale of Industrial Building in North Haven, Connecticut

by Amy Works November 7, 2017

NORTH HAVEN, CONN. — Pearce Real Estate has arranged the sale of an industrial building located at 395 State St. in North Haven. Trilot 7 Enterprises acquired the 18,000-square-foot property for an undisclosed price from Funaro Realty. The buyer operates Nelson Ambulance, Access Ambulance, Connecticut Handivan, Nelcon Towing and Recovery, and The Limo Group. Trilot 7 Enterprises will renovate the property, which is situated on 2 acres. Phil Barber of Pearce Real Estate represented the seller and buyer in the deal.

November 7, 2017

Midwest Nebraska Office

Prime Time Healthcare Signs 27,810 SF Office Lease in Omaha, Nebraska

by Kristin Harlow November 7, 2017

OMAHA, NEB. — Prime Time Healthcare LLC has signed a 27,810-square-foot office lease in Omaha. The property is located at 15380 Weir St. Luke Wertz of Cresa Omaha represented the staffing agency for the healthcare industry in the lease transaction. Walnut Grove Plaza LLC is the property landlord.

November 7, 2017

Office Texas

Peloton Secures Two Office Leases Totaling 18,370 SF in Austin

by Taylor Williams November 7, 2017

AUSTIN, TEXAS — Peloton Commercial Real Estate has secured a pair of office leases totaling 18,370 square feet within Ladera Bend, a 158,407-square-foot office development located at 7300 Ranch Road 2222 in Austin. North Carolina-based staffing firm Orion ICS LLC leased 11,193 square feet and San Antonio-based software firm Triple Aim Ventures LLC leased 7,177 square feet. Matt Frizzell and Brian Liverman of Peloton represented the landlord in both lease negotiations. Doug Brock of Newmark Knight Frank and Zach Ellis of Colliers International represented Orion ICS and Triple Aim Ventures, respectively.

November 7, 2017

California Multifamily Western

Davlyn Investments Purchases Colony Apartments Near Los Angeles for $24.2M

by Nellie Day November 6, 2017

SIMI VALLEY, CALIF. — Davlyn Investments has purchased the 88-unit Colony apartments in the San Fernando Valley market of Simi Valley for $24.2 million. The Class A community is located at 1750 First St. Davlyn plans to rebrand the project as 1750 on First. The 31-year old, value-add property’s interior, exterior and grounds have been maintained, though the asset has never been renovated. The company plans to upgrade the interiors and enhance staffing and marketing. The seller was not disclosed. Vince Norris of Berkadia facilitated the purchase. Ryan Blair of City National Bank spearheaded the lending.

November 6, 2017

Colorado Multifamily Western

Inland Real Estate Buys 141-Unit Village Gardens Apartments in Fort Collins

by Nellie Day November 6, 2017

FORT COLLINS, COLO. — Inland Real Estate Acquisitions has purchased the 141-unit Village Gardens Apartments in Fort Collins for an undisclosed sum. The community is located at 1025 Oxford Lane. Village Gardens contains 12 buildings with one- to three-bedroom units. Community amenities include a fitness center, dog park, fire pit with gas grills, sand volleyball court, life-size chess set and an all-season indoor pool. The property was 97 percent occupied at the time of closing. Inland Real Estate was represented in-house by Matthew Tice.

November 6, 2017

Healthcare Midwest Missouri

Bamboo Equity Partners Acquires 52,000 SF Medical Office Building in Sunset Hills, Missouri

by Kristin Harlow November 6, 2017

SUNSET HILLS, MO. — Bamboo Equity Partners has acquired a 52,000-square-foot medical office building in Sunset Hills, about 15 miles southwest of St. Louis. The building, located at 10777 Sunset Office Drive, is 91 percent occupied. Tenants include Mercy Hospitals, SSM and Sisters of St. Joseph. Bamboo plans to renovate the property, built in 1978, to improve common areas used by patients and healthcare providers. Bamboo Micro Opportunity Fund I LP was the entity used to acquire the property. The seller was not disclosed.

November 6, 2017

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