WARRENSVILLE, OHIO — A Costa Rica-based private investor has purchased a facility occupied by car sales company Carvana in Warrensville, about 15 miles southeast of Cleveland. The sales price was $6.7 million. Located at 4070 Interchange Corporate Center Road, the 8,408-square-foot property was constructed in 2017. Michael Shover and Matthew Gorman of CBRE represented the buyer. There were 17 years remaining on Carvana’s lease at the time of sale. The seller was undisclosed.
HOUSTON — A partnership between Houston-based Better World Holdings and New York-based Crown Capital Ventures has acquired Skylar Pointe Apartments, a 449-unit community in Houston’s Clear Lake area, for $49.1 million. Built in 1979, Skylar Pointe comprises 162 one-bedroom units, 255 two-bedroom apartments and 32 three-bedroom residences. Amenities include two pools, a spa, playground and onsite laundry facilities. The new ownership will invest about $4.6 million in capital improvements to the property, including $2.9 million to unit interior and $1.7 million in to building exteriors and amenity spaces.
NEW YORK CITY — Marcus & Millichap has brokered the $55.5 million sale of the 531-room Martinique New York hotel, located at the corner of Broadway and 32nd Street in Manhattan. Eric Anton and Nelson Lee led a Marcus & Millichap team that represented the seller, New York-based Herald Hotel Associates LP, in the transaction. The buyer was Oklahoma City-based Burnett Equities. Marcus & Millichap also represented the new ownership in negotiations for several retail leases that were recently signed at the property.
MARGATE, FLA. — Lynd Living has sold the Lakes at Margate, a 280-unit, garden-style apartment complex in Margate, for $66.5 million. The firm purchased the property just eight months prior for $51 million. The buyer was not disclosed. Hampton Beebe of Newmark represented Lynd Living in the sale. The firm is rebranding Lakes at Margate as Aqua Villa. Built in 1987, the property features one-, two- and three-bedroom units with wood-plank floors, custom white cabinetry and energy-efficient appliances. Community amenities include two pools, a clubhouse, modern fitness studio and a cyber café. Aqua Villa was 91 percent occupied at the time of sale. Lynd Living spent $4 million in renovations and upgrades during its ownership, including the addition of chef’s kitchens to the property’s three-bedroom units, which the company says has allowed it to raise rents by as much as $800 per unit. The chef’s kitchens improvements include the expansion of counters for one long solid surface for cooking, tile backsplashes and a top shelf installed for pots and pans. Located at 5750 Lakeside Drive, Aqua Villa is situated close to Florida’s Turnpike. The property is 15 miles from Fort Lauderdale, 19.6 miles from Fort Lauderdale International Airport and 12.6 …
FORT WORTH, TEXAS — Atlanta-based investment firm MDH Partners has acquired Everman Crossroads, a two-building industrial complex in Fort Worth totaling 954,611 square feet. The buildings were constructed on a combined 47 acres in 2021. Building 1 totals 310,292 square feet and includes 88 dock doors and 36-foot clear heights. Building 2 spans 644,319 square feet and features 182 dock doors and 40-foot clear heights. Pet food provider Purina occupies Building 1, and Building 2 is available for lease. Dustin Volz, Stephen Bailey, Dom Espinosa, Zach Riebe and Matthew Barge of JLL represented the seller, a partnership between Dallas-based Bandera Ventures and Invesco Real Estate, in the transaction. Scott Moore of CBRE represented MDH Partners in conjunction with internal agent Georga Rowe.
COMMERCIAL POINT, OHIO — Colliers has arranged the sale of a 1 million-square-foot e-commerce fulfillment center occupied by Bath & Body Works Inc. in Commercial Point, a southern suburb of Columbus. The sales price was undisclosed. The retailer plans to add 500 employees to its central Ohio workforce to fill online orders at the facility. Located at 514 Exchange Way, the property is the first building within the 875-acre Rickenbacker Exchange at Commercial Point industrial park. Alex Cantu, Jeff Devine, Steve Disse and Michael Linder of Colliers represented the seller, VanTrust Real Estate. The Mid-America Management Corp., an Ohio-based investment firm, was the buyer.
LAS VEGAS — Voit Real Estate Services has arranged the acquisition of a six-story office building located at 2716 N. Tenaya Way in Las Vegas. San Diego-based Premier Realty Holdings LP (PRH XXXV LLC) purchased the property for $67 million. United HealthCare Services occupies the 204,123-square-foot property, which features a campus conference facility, auditorium, full-service cafeteria, multiple break rooms and a credit union, as well as an on-site, five-story parking structure. The healthcare company uses the office property to house its administrative and operations functions of OptumHealth, United HealthCare’s data and health intelligence business. Mike Bench of Voit represented the buyer, while Rick Reeder, Brad Tecca, Marlene Fujita and Charles Moore of Cushman & Wakefield represented the seller in the transaction.
FRAMINGHAM, MASS. — Newmark has brokered the sale of 9/90 Corporate Center, a 400,000-square-foot office and laboratory campus located in the western Boston suburb of Framingham. The three-building property was roughly 80 percent leased to 12 tenants at the time of sale. Robert Griffin, Edward Maher, Matthew Pullen, Samantha Hallowell and William Sleeper of Newmark represented the undisclosed seller and procured the buyer, a partnership between Outshine Properties and Jadian Capital, in the transaction.
HOUSTON — A joint venture between locally based developer Patrinely Group and USAA Real Estate has sold Folio West, a 266-unit apartment community in Houston’s Westchase neighborhood. The joint venture developed the property in 2017. Units feature one-, two- and three-bedroom floor plans, and amenities include a pool, game room, 24-hour fitness center, business center and a clubhouse with a catering kitchen. South Carolina-based Middle Street Partners purchased the property for an undisclosed price. Dustin Selzer, Matt Kafka and Jett Lucia of JLL brokered the deal.
LAWRENCEVILLE, N.J. — JLL has negotiated the sale of a 632-unit multifamily property in Lawrenceville, located outside of Princeton. Built between 1992 and 1996, the property consists of 19 buildings that house one-, two- and three-bedroom units with an average size of 1,120 square feet. Amenities include two pools, a fitness center, dog park, tennis court, racquetball court, playground and outdoor grilling areas. Jose Cruz, Michael Oliver, Steve Simonelli and Kevin O’Hearn of JLL represented the seller, AvalonBay Communities, in the transaction. The buyer and sales price were not disclosed.
