TREVOSE, PA. — HREC has arranged the sale of Radisson Philadelphia Northeast located at 2400 Old Lincoln Highway in Trevose. Haverford Hotel Partners LP sold the 274-guestroom hotel to TJM Properties for an undisclosed sum. The property is in close proximity to the Sesame Place Theme Park, Parx Casino & Racetrack, Philadelphia Mills Shopping Mall, and The Sportsplex. Ketan Patel and Geoff Davis of HREC’s New York City office represented the seller in the transaction.
NEW YORK CITY — Ariel Property Advisors has brokered the sale of two contiguous multifamily properties, located at 2070 and 2074 Arthur Ave. in the Tremont section of the Bronx. The five-story properties sold for $7.3 million, or $163 per square foot or $136,389 per unit. The properties feature a total of 53 residential units across 42,256 square feet. Victor Sozio, Scot Hirschfield, Jason M. Gold and Marko Agbaba of Ariel Property Advisors represented the seller, King Penguin Opportunity Fund, and procured the buyer, a private investor, in the transaction.
EXTON, PA. — Swope Lees Commercial Real Estate has arranged the acquisition of an office building located at 111 Summit Drive within Whiteland Business Park in Exton. Jacquette Consulting Inc. acquired the property for an undisclosed price. The 6,000-square-foot office building features private offices, restrooms, an open bullpen area, conference room and kitchen. Chuck Swope of Swope Lees Commercial represented the buyer, while Jim Dugan of Newmark Grubb Knight Frank and Eric Stretch of First Liberty Partners represented the seller in the transaction.
RALEIGH, N.C. — CBRE | Raleigh has brokered the sale of Carolina Place, a five-story, 99,181-square-foot office building located at 2626 Glenwood Ave. in Raleigh. The Class A building was 90 percent leased at the time of sale. Houston-based Griffin Partners purchased the asset from New Boston Fund for $20 million, according to the Triangle Business Journal. Ben Kilgore of CBRE | Raleigh, along with John Boylan and J.D. McNeil of Spectrum Properties, represented New Boston Fund in the sale.
CHARLOTTE, N.C. — Ziff Properties Inc. has sold Maplecrest Industrial Park, a 63,200-square-foot flex industrial facility located in Charlotte. The buyer, an undisclosed private buyer based in the Western U.S., purchased the asset for $4.7 million. The transaction marks Ziff Properties’ fifth North Carolina disposition this year. Jared Londry, Robert Cochran and Ashton Nolan of Cushman & Wakefield represented Ziff in the transaction.
RACINE, WIS. — The Dickman Company Inc./CORFAC International has arranged a 2,400-square-foot industrial lease for Elwood Corp. in Racine, approximately 25 miles south of Milwaukee. Vail Rentals owns the 14,400-square-foot, multi-tenant building, located at 2723 Carlisle Ave. Cale Berg and Anthony Huenerbien of The Dickman Co. were the sole brokers in the transaction.
SAN DIEGO — Flocke & Avoyer Commercial Real Estate has brokered the renewal of 3,655 square feet of restaurant space within Campus Plaza. Popeyes is the lessee at 6095 El Cajon Blvd. for $1.2 million for a 10-year term. Bill Thaxton and Stewart Keith of Flocke & Avoyer Commercial Real Estate represented the lessor, while the lessee was self-represented in the transaction.
DESOTO, TEXAS — Greysteel has arranged the sale of Townhome Apartments, a 14-unit, garden-style community in DeSoto. Greysteel’s multifamily investment sales team led by Boyan Radic, Doug Banerjee, Andrew Mueller and Ryan Hill served as advisor and agent to the seller, a local private investor, in the sale of Townhome Apartments to Cove Townhomes LLC. Townhome Apartments is located less than three miles from I-35E.
WEBSTER, TEXAS — DPG Investments LLC and affiliates have structured $9.8 million in limited partner capital, equating to approximately 95 percent of the required equity, for the acquisition and renovation of a 400-unit apartment complex in the Clear Lake submarket of Houston. The property, called The Falls at Clear Lake, is located on nearly 24 acres in Webster. The Falls is close to the Webster medical corridor and employment centers including the Port of Houston and NASA.
FORT WORTH, TEXAS — Marcus & Millichap has arranged the sale of Renaissance II, a 51-unit apartment property located in Fort Worth. Scott Ogilvie and Trey Caldwell of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a partnership. Ogilvie and Caldwell also procured the buyer, a limited liability company. Renaissance II is located at 2324 Ridgmar Plaza in Fort Worth, just north of I-30. Constructed in 1962, the 51-unit, Class C asset is situated on one acre. Renaissance II consists of one two-story building with one efficiency, 24 one-bedroom/one-bath and 26 two-bedroom/two-bath floor plans. At the time of listing, the asset was 98 percent occupied.
