more_sales_and_leases

HFF Negotiates Sale of 59-Unit Apartment Complex in Austin

by Haisten Willis June 11, 2015

AUSTIN, TEXAS — HFF has negotiated the sale of SoCo I and II, a 59-unit boutique apartment complex located in Austin. HFF marketed the asset on behalf of Artesia. EG Funds Management purchased the property for an undisclosed amount. SoCo I & II is located at 3504 and 3508 Alpine Circle between South Congress and South 1st streets in the South Austin submarket. Renovated in 2014, the community consists of a pair of two-story buildings situated on 1.4 acres. It was 98 percent occupied at closing. Matt Pohl, Sean Sorrell and Ryan McBride led the HFF investment sales team representing the seller.

June 11, 2015

Avison Young Arranges Land Sale in Metro Houston

by Haisten Willis June 11, 2015

BAYTOWN, TEXAS — Lee Jones and Tommy LeBlanc of Avison Young represented the Hunt Family in the sale of 44 acres near the Grand Parkway to Guy Pfitzner, who was represented by Brenda Wagner of Mary Dunn Real Estate. The property is located a half mile east of Highway 99 on FM 565 in Baytown.

June 11, 2015

Multifamily Southeast Virginia

ARA Newmark Brokers Sale of Luxury Apartment Community in Virginia

by John Nelson June 11, 2015

HERNDON, VA. — ARA Newmark has brokered the sale of Monroe Place, a 202-unit mid-rise apartment community located in Herndon. Constructed in 2008, the property was 96 percent occupied at the time of sale. Monroe Place is situated within the main square of the Woodland Park Crossing lifestyle center, which features 124,000 square feet of retail and office space. Drew White and Ryan Ogden of ARA Newmark represented the seller, an institutional investor advised by J.P. Morgan Asset Management, in the transaction. The buyer, Washington, D.C.-based Dweck Properties, purchased the asset for an undisclosed price.

June 11, 2015

Industrial Maryland Southeast

CBRE Arranges 122,044 SF Industrial Lease in Metro Baltimore

by John Nelson June 11, 2015

COLUMBIA, MD. — CBRE has arranged a lease on behalf of Deutsche Asset & Wealth Management for 122,044 square feet at Gateway Commerce Center in Columbia, a suburb of Baltimore. The property is situated near I-95, Baltimore/Washington International Thurgood Marshall Airport and Columbia Town Center. National Retail Systems Inc., which includes Keystone Freight Corp. and National Retail Transportation Inc., will utilize the property at 8700 Robert Fulton Drive to provide logistics support for T.J. Maxx. Built in 1971 and remodeled in 1997, Gateway Commerce Center spans more than 48.7 acres with a total of 700,945 square feet and features dock and drive-in loading, an ESFR sprinkler system and 28- to 50-foot clear heights. John Wilhide and Ed Harris of CBRE represented the landlord in the lease transaction.

June 11, 2015

Hospitality Massachusetts Northeast

Ultima Hospitality Buys Sheraton Needham Hotel in Massachusetts

by Amy Works June 11, 2015

NEEDHAM, MASS. — Ultima Hospitality has acquired the Sheraton Needham Hotel, located at 100 Cabot St. in Needham, for an undisclosed price. The 247-room hotel recently underwent an extensive renovation. The new guest rooms feature Sheraton Sweet Sleeper beds, complimentary WiFi, individual climate control and 37-inch LCD televisions. Additionally, the hotel features a fitness center, heated indoor pool, Link Café and Bar, and 15,000 square feet of flexible meeting and event space. The name of the seller was not released.

June 11, 2015

New York Northeast Retail

CBRE/NE Brokers Sale of River Mall Shopping Center in New York

by Amy Works June 11, 2015

BALDWINSVILLE, N.Y. — CBRE/New England, along with CBRE Syracuse, has brokered the sale of River Mall Shopping Center in Baldwinsville. Phillips Edison & Co. sold the 165,000-square-foot property for an undisclosed price to RMSC Holdings. The property is anchored by Tops Market and fully leased to a roster of national and regional credit tenants. Nat Heald, Bill Moylan, Chris Angelone and Michael Finn of CBRE represented the seller and procured the buyer in the deal.

June 11, 2015

Mixed-Use New York Northeast

Marcus & Millichap Arranges $6.5M Sale of Mixed-Use Property in New York

by Amy Works June 11, 2015

EAST FISHKILL, N.Y. — Marcus & Millichap has arranged the sale of Heritage Square, a mixed-use property located in East Fishkill. The 72,423-square-foot property sold for $6.5 million. Nathan Pealer of Marcus & Millichap represented the seller, a subsidiary of a financial institution, in the transaction. The name of the buyer was not released.

June 11, 2015

Illinois Midwest Multifamily

CBRE Arranges Two Multifamily Sales Totaling $38.2M

by Amy Works June 11, 2015

ST. CHARLES, ILL. — CBRE has brokered the sales of two multifamily properties in St. Charles totaling $38.2 million. In the first transaction, Shodeen Group sold Wessel Court to Axiom Properties Inc. for $20.8 million. Located at 1820 Wessel Court, the property includes 228 apartment units. In the second transaction, Kinzie Realty Corp. sold Fox Run to Windy City RE LLC for $17.4 million. Located at 145 Walnut Drive, the property features 220 apartment units. John Jaeger, Dan Cohen and MJ Zaring represented the sellers in both transactions.

June 11, 2015

Illinois Midwest Retail

Quantum Real Estate Advisors Arranges $1.8M Sale of Plainfield Marketplace

by Amy Works June 11, 2015

PLAINFIELD, ILL. — Quantum Real Estate Advisors has arranged the sale of Plainfield Marketplace, a retail building located at 11850 S Route 59 in Plainfield. An Illinois-based private investor acquired the 8,010-square-foot retail center for $1.8 million from a Minnesota-based developer. At the time of sale, the property was 100 percent occupied by Sherwin Williams, Edward Jones, Kumon and EDO Cleaners. Chad Firsel and Daniel Waszak of Quantum were the sole brokers in the transaction.

June 11, 2015

California Office Western

Temecula Office Property Sells for $3.3M

by Nellie Day June 11, 2015

TEMECULA, CALIF. – A 36,911-square-foot office property in Temecula has sold to the Stewart Group for $3.3 million. The two-building property is located at 28999 and 28991 Old Town Front Street. It is 75 percent occupied by 15 tenants. The space was built in 1986 and 1988. The Stewart Group was represented by Coldwell Banker Commercial. The seller, Plaza Del Rio LLC, was represented by Dan Vittone and Alan Pekarcik of Avison Young.

June 11, 2015

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