FORT COLLINS, COLO. – Genesis Hospitality has subleased 20,000 square feet of industrial space in Fort Collins. The space is located at 1730 East Prospect Road. It was sublet from Advanced Energy. Jared Goodman and Jason Ells of Cassidy Turley and JLL’s Mike Deatly and Todd Roebken represented both parties in this transaction.
DALLAS — CBRE Capital Markets has brokered the sale of two uptown Dallas office buildings on behalf of Caddo Holdings LLC. The portfolio consists of 3500 Oak Lawn Ave. and 4245 N. Central Expressway. Westdale Real Estate Investment & Management purchased the assets for an undisclosed price. Eric Mackey and Gary Carr of CBRE’s Capital Markets Institutional Properties Group in Dallas represented the unnamed seller. 3500 Oak Lawn Ave. is a 101,541-square-foot office building constructed in 1980 at the intersection of Lemmon Avenue and Oak Lawn Avenue. 4245 N. Central Expressway is an 87,292-square-foot office building constructed in 1986 between the Knox/Henderson area and Fitzhugh Avenue.
FORT WORTH, TEXAS — Marcus & Millichap has arranged the sale of The Carlton Apartment Homes, a 108-unit apartment complex located in Fort Worth. Mason Green of Marcus & Millichap’s Fort Worth office represented both the buyer and seller in the off-market transaction. J. Stark Capital purchased the property in a 1031 tax-deferred exchange. A Fort Worth-based partnership was the seller. The Carlton Apartment Homes is located at 6301 Woodway Drive in Fort Worth. The property was built in 1969 on six acres. Units range from 500-square-foot studios to 1,240-square-foot, three-bedroom units. The average unit size is 1,024 square feet. Amenities include on-site laundry facilities, security cameras and gated entry access. The buyer plans to spend $500,000 in capital expenditures to improve curb appeal and continue a unit upgrade program already in place.
BURR RIDGE, ILL. — Lee & Associates has arranged the lease renewal of a 10,497-square-foot industrial research and development space in Burr Ridge, an affluent suburb of Chicago. Medi-Physics Inc. will occupy space located at 161 Tower Drive, Suite A. Terry Grapenthin and Jeff Galante of Lee & Associates of Illinois LLC represented the landlord, IndCor Properties. Ron Weber of CBRE represented the tenant in the transaction.
CREST HILL, ILL. — Marcus & Millichap has arranged the sale of 1473 N. Rock Run Drive, a 12-unit apartment complex in Crest Hill, for $802,500. Ryan D. Engle, Andrean Angelov and Adam Fortino of Marcus & Millichap’s Chicago Oak Brook office marketed the property on behalf of the seller, a limited liability company. Engle, Angelov and Fortino also represented the buyer, a limited liability company. The property consists of four one-bedroom units and eight two-bedroom units measuring between 700 and 800 square feet.
STAFFORD, TEXAS — NAI Houston has represented SBP-Development III Ltd. in the sale of a 15,000-square-foot, single-tenant industrial building located at 13340 Pike Road in Stafford, a suburb of Houston. John Ferruzzo, Darren O’Conor and Joshua Lass-Sughrue of NAI Houston represented the seller, SBP-Development III. Mike McMahon of REOC General Partners LLC represented the buyer, Blank Universal LLC.
PLANO, TEXAS — Colliers International has arranged the lease of office space for RamQuest, a provider of title and settlement software solutions, in Plano. RamQuest is consolidating its facilities and relocating its headquarters to International Business Park at 6111 W. Plano Parkway. The company will occupy 28,205 square feet at the new location. Daniel Rudd and Billy Vahrenkamp of Colliers International represented RamQuest in the transaction. Sean Dalton of Younger Partners represented the landlord, Billingsley Co.
ROUND ROCK, TEXAS — Dougherty Mortgage LLC has arranged a $1.8 million Fannie Mae loan for the acquisition of 12 Oaks Apartments, a 32-unit apartment complex in Round Rock. The 10-year loan was arranged by Dougherty’s Dallas office and includes a 30-year amortization schedule for the borrower, 105 Gattis LLC. Amenities include a courtyard, laundry facilities, on-site maintenance and a pool.
MECHANICSBURG, PA. — Woodmont Industrial Partners (WIP) has completed the sale of a distribution center, located at 34 Dauphin Drive in Mechanicsburg. Exeter Property Group purchased the 180,333-square-foot property for $8 million. Situated on 10.6 acres, the property features 3,200 square feet of office space, 24-foot ceilings, 20 dock positions and 10 rear rail doors. WIP originally acquired the rail-served center in 2012, and after extensive renovations leased the facility to Allen Distribution, a third-party logistics provider. Prior to the lease and sale of the facility, WIP implemented a six-month rehab program, including the incorporation of an ESFR sprinkler system and T-5 lighting, among other improvements.
SANDY SPRINGS, GA. — Spirit Bascom Ventures, in conjunction with funds managed by Oaktree Capital Management LP, has purchased The Laurels at Overlook Park. The 232-unit apartment community is located along the Chattahoochee River at 415 Morgan Falls Road in Sandy Springs, a northern suburb of Atlanta. The property’s amenity package includes a large clubhouse, resort-style pool with gardens, fitness center and a trailhead leading to a hiking path through nearby Overlook Park and the Chattahoochee River. Andrew Feinberg, David Harte and Marc Schulder of Ackman-Ziff arranged acquisition financing on behalf of the buyers through Synovus Bank. JLL represented the undisclosed seller in the transaction. The new ownership is planning to renovate the property’s interiors and amenity offerings.