more_sales_and_leases

M&M Arranges Sale of 168-Unit Apartment Building in Fort Worth

by Haisten Willis July 27, 2015

FORT WORTH, TEXAS — Marcus & Millichap has arranged the sale of Sierra Hermosa Apartments, a 168-unit apartment property located in Fort Worth. John Barker, Trey McGhin and Mark Allen of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a private partnership. Barker, McGhin and Allen also secured the buyer, a New Jersey limited liability company. Sierra Hermosa Apartments is located at 3254 Las Vegas Trail near West Camp Bowie Boulevard with access to Highway 820 and I-30. The property was built in 1970 and comprises 41 buildings. Nearly 70 percent of the units have two bedrooms. There are three onsite laundry facilities, seven floor plans and three boiler rooms.

July 27, 2015

Waypoint Residential Acquires Apartment Complex in Houston

by Haisten Willis July 27, 2015

HOUSTON — Waypoint Residential has purchased the Valencia Place apartment complex in Houston. Located at 3131 W. Bellfort Ave., Valencia Place is a 246-unit, Class A property located near the Texas Medical Center. Valencia Place also provides access to major highways.

July 27, 2015

Industrial Office Texas

Colliers International Arranges Sale of Office/Warehouse Space in Metro Houston

by Haisten Willis July 27, 2015

MISSOURI CITY, TEXAS — Colliers International has arranged the sale of 6,500 square feet at 13370 S. Gessner Road in Missouri City. AAA Tran Real Estate Management LLC purchased the property. Tasha Bannister of Transtar Fine Properties represented the buyer in the transaction. Barkley Peschel of Colliers International represented the seller in the transaction. Madera Studio, a professional photography and portrait studio, will occupy the space.

July 27, 2015

Office South Carolina Southeast

Garrison Investment Group Inks Nearly 100,000 SF in Leases in Greenville Office Portfolio

by John Nelson July 27, 2015

GREENVILLE, S.C. — Garrison Investment Group has signed nearly 100,000 square feet of office space to new tenants at its eight-building office portfolio in Greenville. The leases include Ahold leasing 26,000 square feet at 651 Brookfield Parkway; The Gordian Group leasing 21,000 square feet at Patewood 2 in Office Park Patewood; and Real Page leasing 46,400 square feet at Patewood 3. Other new tenants at Patewood include NFP, OB Hospitalist Group, Auto-Owners, Palmetto Security Group and Keyence Corp. of America. The portfolio is managed by Trinity Partners, asset-managed by Trinity Capital Advisors, and leased by CBRE. Charles Gouch, Blaine Hart and Shelby Dodson of CBRE represented Garrison Investment Group in the new lease transactions. Garrison recently completed a $2 million capital improvement program at its portfolio comprising the addition of a fitness center at Office Park Patewood, new signage and lobby upgrades.

July 27, 2015

Georgia Retail Southeast

SRS Real Estate Brokers Three Leases at Gateway in Metro Atlanta

by John Nelson July 27, 2015

SANDY SPRINGS, GA. — SRS Real Estate Partners (SRS) has brokered three new leases at Gateway, a 21-acre, 121,071-square-foot mixed-use development in Sandy Springs, a suburb of Atlanta. The development project, owned by Core Property Capital, consists of 630 apartment units, a 20,000-square-foot office component and 100,000 square feet of retail space. New stores will include a 1,530-square-foot Buttermilk Sky Pie Shop, an 850-square-foot Kale Me Crazy and a 2,765-square-foot flagship BLAST fitness studio. Adrienne Crawford and Lily Heimburger of SRS represented Core Property Capital in all three transactions. Steve Shuler of Shuler Properties LLC represented Buttermilk Sky Pie Shop, Shaun Weinstock of Weinstock Realty & Development represented Kale Me Crazy and Jenna Schulten of Richard Bowers & Co. represented BLAST Fitness.

July 27, 2015

Multifamily New York Northeast

Stellar Management, CAMBA Housing Ventures Acquire Castleton Park on Staten Island

by Amy Works July 24, 2015

NEW YORK CITY — Stellar Management and CAMBA Housing Ventures has acquired Castleton Park, an affordable multifamily property located in St. George on Staten Island for an undisclosed sum. With the backing of NYC Housing Development Corp. tax-exempt bonds, the owner plans to launch a $30 million renovation and rehabilitation project for the 40-year-old development, which features 454 apartment units. In collaboration with the NYC Housing Development Corp., NYC Department of Housing Preservation and Development and the U.S. Department of Housing and Urban Development, the development team will be able to maintain long-term affordability for tenants at the property. Construction work is scheduled to begin in August and includes the rehabilitation of the building façade, parking area, elevators and mechanicals, as well as renovations to common areas and each unit’s bathroom and kitchen. The renovation is scheduled to last two years.

July 24, 2015

New Jersey Northeast Office

Brown Brothers Harriman Leases 114,798 SF at Harborside Plaza 5

by Amy Works July 24, 2015

JERSEY CITY, N.J. — Brown Brother Harriman, a private bank, has signed an 11-year lease for 114,798 square feet at Mack-Cali Realty Corp.’s Harborside Plaza 5 in Jersey City. The company will be transferring more than 500 employees to the new location, a 977,225-square-foot office tower on the waterfront. Scott Gamber, Robert Stillman and Peter Gamber of CBRE represented the tenant, while Chris DeLorenzo and Tom Savoca of Mack-Cali, along with Mark Ravesloot, Peter Turchin, Gerry Miovski, Suzanne Macnow and Arkady Smolyansky of CBRE, represented the landlord in the transaction.

July 24, 2015

Multifamily Texas

M&M Arranges Sale of 200-Unit Apartment Building in Metro Dallas

by Haisten Willis July 24, 2015

DUNCANVILLE, TEXAS — Marcus & Millichap has arranged the sale of Fairmeadows Apartments, a 200-unit apartment property situated on 11.7 acres in Duncanville. John Barker of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a partnership. Barker also secured the buyer, a partnership that assumed an existing Fannie Mae loan. Fairmeadows Apartments is located at 800 Merrill Road in Duncanville, a city situated within Dallas County nine miles from downtown Dallas. The construction includes a concrete slab foundation, wood framing, brick with vinyl siding exterior and pitched composition roofs. On-site amenities include laundry facilities, a swimming pool and a playground area.

July 24, 2015

California Hospitality Western

CBRE Global Investors Fund Buys Irvine Marriott Hotel

by Nellie Day July 24, 2015

IRVINE, CALIF. — CBRE Global Investors has acquired the 487-room Irvine Marriott Hotel for an undisclosed sum. The hotel is located at 18000 Von Karman Ave. Irvine Marriott Hotel features a newly renovated lobby, restaurants and a lounge, 27,000 square feet of meeting space, a fitness center and swimming pool. CBRE plans to reposition the asset through a significant capital program. This will include renovations to room finishes and improvements to the fitness center, pool area, common areas and landscaping. The CBRE Strategic Partners U.S. Value 7 fund purchased the property.

July 24, 2015

Mixed-Use North Carolina Southeast

JLL Brokers $46M Sale of Business Park in Charlotte

by John Nelson July 24, 2015

CHARLOTTE, N.C. — JLL has brokered the $46 million sale of Greylyn Business Park, a 648,156-square-foot office, retail and industrial park in Charlotte. The property’s tenant roster includes Active Screw & Fastener Co., Mirrormate, Charlotte-Mecklenburg Police Department, KNA Corp. and United Refrigeration Inc. Cleveland-based Weston Inc. purchased the asset from GID. Brad Cherry, Pete Pittroff and Spencer Yorke of JLL’s Charlotte office represented the seller in the transaction. Weston has retained Yorke and Natalie Marshall of JLL to lease the business park and Mimi Fisher and Jason Sierra of JLL to manage the property on-site.

July 24, 2015

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