REBusinessOnline

Newmark Brokers Sale of 367,364 SF Office Complex in North Dallas

DALLAS — Newmark has brokered the sale of Heritage One & Two, a 367,364-square-foot office complex located at the convergence of the Dallas North Tollway and LBJ Freeway in North Dallas. The two-building property sits on 12 acres and features amenities such as a fitness center, conference center and a café with outdoor seating. Gary Carr, Robert Hill, Chris Murphy, John Alvarado and Chase Tagen of Newmark represented the undisclosed seller in the transaction. The buyer was Oregon-based …

IPA Negotiates Sale of 167,689 SF Noble Town Center Near Philadelphia

JENKINSTOWN, PA. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Noble Town Center, a 167,689-square-foot shopping center in Jenkinstown, a northern suburb of Philadelphia. The property was originally constructed in 1958 as a Wanamaker’s department store and was converted into a multi-tenant center in 1999. Anchor tenants include Ross Dress for Less, PetSmart, Bed Bath & Beyond and Walgreens. Brad Nathanson of IPA represented the …

29th Street Capital Acquires Parq at Iliff Station Apartment Community Near Denver for $134M

AURORA, COLO. — 29th Street Capital (29SC) has purchased Parq at Iliff Station, a multifamily property located in Southeast Aurora, for $134 million.Located at 2602 S. Anaheim St., Parq features 424 apartments and was built in 2018. 29SC plans to implement an improvement plan, including new smart-home technology packages, upgrading interior finishes and adding additional amenities throughout the community.Haven Residential, 29SC’s in-house property management group, will operate the …

TriStar Sells 2 MSF Industrial Campus in Edwardsville, Illinois

EDWARDSVILLE, ILL. — A joint venture led by developer TriStar Properties has sold a 2 million-square-foot industrial campus occupied by World Wide Technology (WWT) in Edwardsville near St. Louis. The sales price was undisclosed. TriStar developed the property as a build-to-suit for WWT in 2019. The campus includes two equally sized buildings with clear heights of 36 feet. One building is devoted to production and assembly of technology equipment while the other is utilized for storage and …

JLL Negotiates Sale of 239,952 SF Industrial Property in Metro Austin

PFLUGERVILLE, TEXAS — JLL has negotiated the sale of Pecan 130 Business Park, a 239,952-square-foot industrial property located in the northern Austin suburb of Pflugerville. Constructed between 2013 and 2014, the two-building property sits on 15.3 acres and was 85 percent leased to seven tenants at the time of sale. Dustin Volz, Trent Agnew, Stephen Bailey, Dom Espinosa, Wesley Gilmer and Josh Villarreal of JLL represented the seller, Birtcher Anderson & Davis, in the transaction. …

Cushman & Wakefield Arranges $63.3M Sale of The Fitzroy Chenal Apartments in Little Rock

LITTLE ROCK, ARK. — Cushman & Wakefield has arranged the sale of The Fitzroy Chenal, a 294-unit apartment community in Little Rock. The final price was $63.3 million or $215,306 per unit. Martin Bynum and Craig Hey of Cushman & Wakefield represented the seller, Huffman & Co., in the transaction. Passco Cos. was the buyer of the property. Estage is in charge of management.Constructed in 2018, the Fitzroy Chenal is located at 15401 Chenal Parkway and was 98 percent occupied as …

Monarch Investment & Management Acquires 589-Unit Multifamily Portfolio in Rochester, Minnesota

ROCHESTER, MINN. — Monarch Investment & Management Group has acquired a six-property, 589-unit multifamily portfolio in Rochester for an undisclosed price. The townhome communities include Crystal Bay, French Creek, Village Green, Winchester, Heritage Manor and Olympik Village. The properties were built between 1962 to 1996 and range in size from 36 to 182 units. Three of the assets (Winchester, Heritage Manor and Olympik Village) are rental properties. Average occupancy across the …

Sentinel Real Estate Sells 276-Unit Apartment Property in Scottsdale to Sunroad Enterprises

SCOTTSDALE, ARIZ. — Sentinel Real Estate Corp. has completed the disposition of The Paragon at Kierland in Scottsdale to San Diego-based Sunroad Enterprises for an undisclosed price.CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch represented the seller in the deal.Built in 2000, The Paragon at Kierland features 276 apartments, a lagoon-style swimming pool with private cabanas, an outdoor kitchen area with TV and fire pit, a fitness center and a resident

BH Properties Buys 361,780 SF Preston Shepard Place Shopping Center in Metro Dallas

PLANO, TEXAS — Los Angeles-based investment firm BH Properties has purchased Preston Shepard Place, a 361,780-square-foot shopping center in Plano. Originally built in 1995, the property houses tenants such as Marshalls, Burlington and Tuesday Morning. The 31-acre Shepard Preston Place was 55 percent leased at the time of sale. The seller and sales price were not

Brady Sullivan Acquires One Granite Place Office Campus in Concord, New Hampshire

CONCORD, N.H. — New Hampshire-based investment firm Brady Sullivan Properties has acquired One Granite Place, an office park that consists of two interconnected mid-rise buildings that are situated on a 181-acre wooded campus. The new ownership plans to implement a value-add program at the 114,000-square-foot South Tower, which was vacant at the time of sale. The seller and sales price were not

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