more_sales_and_leases

KD Real Property Investments Acquires Apartment Complex in Metro Dallas

by Haisten Willis August 18, 2015

WAXAHACHIE, TEXAS — California-based KD Real Property Investments LLC has acquired a 72-unit, Class A apartment complex in Ellis County from a north Texas investor in an off-market transaction. Arlington-based Mercury Metroplex Real Estate IV LLC was the seller. Sam Pettigrew III of Dallas-based Cantrell Co. & Partners was the deal’s sole broker. The complex is known as Bella Vita Apartments and was 99 percent occupied at the time of sale. The seven-building, gated complex at 380 Solon Road was a purpose-built project for residents aged 55 and over. Units at Bella Vita range from 840 square feet to 1,075 square feet and include either one or two bedrooms. Amenities include a walking trail, club room, business center, library, fitness center and pool.

August 18, 2015

M&M Arranges Sale of 77,950 SF Self-Storage Facility in San Antonio

by Haisten Willis August 18, 2015

SAN ANTONIO — Marcus & Millichap has arranged the sale of Blue Llama Storage Alamo Ranch, a 77,950-square-foot self-storage facility located in San Antonio. Chico LeClaire of Marcus & Millichap’s Denver office, along with Dave Knobler of the firm’s Houston office, marketed the property on behalf of the seller, a limited liability company. Knobler and LeClaire also secured the buyer, a limited liability company. Blue Llama Storage Alamo Ranch is located at 6826 Alamo Parkway.

August 18, 2015

Multifamily Southeast Tennessee

Adobe Properties Acquires Apartment Community in Tennessee

by John Nelson August 18, 2015

OAK RIDGE, TENN. — Adobe Properties has purchased Centennial Village Apartments, a 252-unit, Class A apartment community in Oak Ridge, roughly 25 miles northwest of Knoxville. The property sits on the shores of Melton Hill Lake and features a saltwater swimming pool, fitness center and cyber café. The apartment community is also adjacent to the Oak Ridge National Laboratory, which employs more than 4,400 scientists and engineers. Abode Properties is a subsidiary of Transcontinental Realty Investors Inc. (NYSE: TCI), a Dallas-based real estate investment company.

August 18, 2015

Florida Multifamily Southeast

ARA Newmark Brokers Sale of Apartment Community in South Florida

by John Nelson August 18, 2015

BOYNTON BEACH, FLA. — ARA Newmark has arranged the sale of Advenir at Colony Club, a 214-unit, garden-style apartment community located in Boynton Beach. Constructed in 2004 and 2005, the property’s amenity package includes full-size washers and dryers, complimentary Wi-Fi, alarm systems, balconies and patios, gourmet kitchens, one- and two-car garages, automated gate access, a sauna, swimming pool and spa, fitness center, clubhouse, basketball court, playground, picnic area and tennis courts. Advenir at Colony Club was 94 percent occupied at the time of sale. Hampton Beebe, Avery Klann, Troy Ballard, Marc deBaptiste and Richard Donnellan of ARA Newmark represented the seller, Florida-based Advenir, in the transaction. Greystar purchased the property for an undisclosed price.

August 18, 2015

Midwest Office Ohio

Brennan Acquires Landmark Plastic Headquarters in Akron, Ohio

by Jonathan Mehall August 17, 2015

AKRON, OHIO — Brennan Investment Group LLC has acquired Landmark Plastic Corp.’s headquarters building located at 1331 Kelly Ave. in Akron. The acquisition of the Landmark Plastic facility was funded through Brennan’s $300 million joint venture with one of Arch Street Capital Advisors’ institutional clients. Full transaction terms were not disclosed. The building is 100 percent leased to Landmark Plastic, which specializes in the manufacturing of thermoformed and injection molded products for the horticultural industry.

August 17, 2015

Industrial Michigan Midwest

NAI Brokers 14,400 SF Industrial Lease for Tool and Die Manufacturer in Grand Rapids, Mich.

by Jonathan Mehall August 17, 2015

GRAND RAPIDS — NAI Wisinski of West Michigan has brokered a 14,400-square-foot industrial lease for MBL Tool & Die LLC in Grand Rapids. The property is located at 3650 Broadmoor Ave in a very industrialized area of Southeast Grand Rapids and is part of a 43,200-square-foot flex building. The lease is for a term of five years. The property features seven dock doors and 10 overhead doors. Jeremy Veenstra represented the tenant in the transaction.

August 17, 2015

Multifamily New York Northeast Retail

Savanna Sells 3,219 SF Retail, Residential Building in Brooklyn

by Amy Works August 17, 2015

NEW YORK CITY — Savanna, a New York-based real estate private equity and asset management firm, has completed the sale of a retail and residential property located at 210 Bedford Ave. in Brooklyn’s Williamsburg neighborhood. An affiliate of Status Capital LLC acquired the three-story, 3,219-square-foot property for an undisclosed price. After purchasing the property in 2013, Savanna leased the ground-floor retail space to Juice Generation and converted the residential space into a luxury duplex townhome.

August 17, 2015

New Jersey Northeast Office

Segal LaBate Commercial Real Estate Closes Sale of New Jersey Office Building

by Amy Works August 17, 2015

TRENTON, N.J. — Segal LaBate Commercial Real Estate has finalized the sale of the former Trenton Times building, located at 500 Perry St. in Trenton. Murray, Utah-based HighMark School Development, in collaboration with the International Academy of Trenton Charter School, acquired the 80,000-square-foot building for an undisclosed price. Situated on six acres, the building will be transformed into a K-12 school and feature outdoor playing fields and recreational areas. Segal LaBate Commercial Real Estate represented the buyer, while Richardson Commercial Real Estate represented the seller, PerTrent LLC, in the transaction.

August 17, 2015

New York Northeast Retail

Welco Realty Arranges 50,000 SF Retail Lease in Brooklyn

by Amy Works August 17, 2015

NEW YORK CITY — Welco Realty Inc., a partner of X Team International, has arranged a 50,000-square-foot leased with Fairway Market at Georgetown Shopping Center in Brooklyn. The store, which will be the second in Brooklyn, will be located on Ralph Avenue. Fairway Market will be replacing Waldbaum’s supermarket. Welco Realty represented both the tenant and the landlord, Astoria Holding Corp., in the transaction.

August 17, 2015

Industrial Texas

Monmouth Purchases FedEx Industrial Building in Fort Worth for $35.3M

by Haisten Willis August 17, 2015

FORT WORTH, TEXAS — Monmouth Real Estate Investment Corp. has acquired a 304,608-square-foot industrial building located in the Fort Worth Alliance Airport at 2701 Texas Longhorn Way in Fort Worth for $35.3 million. The property is net leased for 15 years to FedEx Ground Package System. The building is situated on 44.2 acres. Monmouth was founded in 1968 and specializes in net leased industrial properties.

August 17, 2015

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