ORLANDO, FLA. — Cushman & Wakefield has arranged the $315 million sale of SouthPark Center, a 10-building suburban office park in Orlando totaling approximately 1.3 million square feet. PPF Real Estate, part of PPF Group, acquired the property. The property is located near John Young Parkway and Sand Lake Road. The property was sold for the highest amount ever for the office market in Orlando, according to the Orlando Business Journal. Mike Davis, Rick Colon, Rick Brugge, Dominic Montazemi, Zach Eicholtz, Brooke Tulley and Ryan Jenkins of Cushman & Wakefield represented the seller, Boston-based AEW Capital Management, in the sales transaction. Additionally, Brian Linnihan, Jason Hochman, Mike Ryan and Ron Granite of Cushman & Wakefield arranged $233 million in acquisition financing on behalf of PPF Real Estate.
STONE MOUNTAIN, GA. — First National Realty Partners has acquired Crowe’s Crossing, a 93,728-square-foot shopping center in Stone Mountain. The seller and sales price were not disclosed. Located at 1232 South Hairston Road, the property is situated approximately 12 miles east of downtown Atlanta. The shopping center was 97 percent occupied at the time of sale and anchored by a 45,528-square-foot Kroger Supermarket. The other tenants were not disclosed.
HARLINGEN, TEXAS — Los Angeles-based BH Properties has acquired an 86,640-square-foot industrial building located in the Rio Grande Valley city of Harlingen. The property was built in 1970 as a regional distribution facility for Sears. Most recently, Valley Baptist Hospital operated the property as a laundry and supply storage facility prior to it being damaged in a storm. BH Properties will undertake a multimillion-dollar capital improvement program to address deferred maintenance, install a new roof and restore power and building systems. Conrad McEachern and Carlos Telles with CBRE represented the seller in the transaction.
EUGENE, ORE. — Cumberland Holdings has completed the disposition of Sheldon Butte, a garden-style, value-add multifamily property in Eugene. Clear Capital acquired the asset for $35.7 million. Located at 2555 Willakenzie Road, Seldon Butte features 176 apartments. Community amenities include a leasing office, community lounge, fitness center, pool and spa, four laundry facilities, a recycling center, dog park, picnic and barbecue areas, and a community garden. The property was built in 1972. Ira Virden, Carrie Kahn and Frank Solorzano of JLL Capital Markets represented the seller in the deal.
EDGEWOOD, WASH. — The Wolff Co. has completed the disposition of 207 East, a multifamily property located at 207 Meridian Ave. in Edgewood, to Security Properties for an undisclosed price. Jon Hallgrimson, Eli Hanacek, Mark Washington and Kyle Yamamoto of CBRE Pacific Northwest Multifamily represented the seller in the deal. Built in 2020, 207 East features 288 apartments in a mix of one-, two- and three-bedroom floor plans, with an average unit size of 892 square feet. The 14-building property spans 16 acres and features a resort-style pool, spa and sundeck, multiple clubhouse lounges, a community kitchen with espresso bar, a 24-hour fitness center, a yoga studio and co-working pods.
SUNNY ISLES BEACH, FLA. — Atlanta-based Jamestown has completed the sale of Beach Place, a 308-unit apartment community in Sunny Isles Beach, about 19 miles north from Miami. A private buyer purchased the property for an undisclosed amount. Jaret Turkell, Roberto Pesant, Jose Mota and Omar Morales of Berkadia Institutional Solutions represented Jamestown in the sale. Beach Place features four, six-story buildings offering 213 one-bedroom units and 95 two-bedroom units averaging 900 square feet. Units feature stainless steel appliances, granite countertops, tile and hardwood flooring, walk-in closets and patios or balconies. Community amenities include a fitness center, pool, hot tub, bark park, dog wash, business center and bike parking. The property was 96 percent leased at the time of sale. Located at 17101 N. Bay Road on seven acres, the 277,200-square-foot property is located near Aventura Mall, Bal Harbour Shops, Oleta River State Park and Florida International University.
NORTH CHARLESTON, S.C. — Charleston-based Blaze Capital Partners has sold Dwell at Greenridge, a 256-unit apartment community located in North Charleston. The buyer and sales price were not disclosed. Built in 1980, The Dwell at Greenridge is a two-story multifamily community that offers one- and two-bedroom units ranging in size from 650 to 960 square feet. Community amenities include a pool with sun deck, grill and picnic areas, clubhouse and two laundry centers. Located at 7910 Crossroads Drive, Dwell at Greenridge is situated close to Interstate 26 and two of South Carolina’s largest manufacturers: Boeing and Volvo. The property is also located about 16 miles from the College of Charleston and approximately nine miles from Charleston International Airport. Blaze Capital Partners made investments to modernize the property over its ownership period, including adding new signage and marketing, building a new clubhouse and fitness center and redesigning exterior amenities and landscaping.
CARROLLTON, TEXAS — Marcus & Millichap has negotiated the sale of Woodlake Square, an 80,774-square-foot retail center located in the northern Dallas suburb of Carrollton. Woodlake Square was built on 6.7 acres in 1979 and renovated in 2019. Tenants at the property, which was 94 percent leased at the time of sale, include Harbor Freight Tools, LA Fitness and Dollar Tree. Philip Levy of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Levy also procured the buyer, a locally based 1031 exchange investor. Both parties involved in the deal requested anonymity.
GAINESVILLE, GA. — Bridge33 Capital has sold Westbrook Plaza, a 49,364-square-foot retail center in the Atlanta suburb of Gainesville. Jim Hamilton, Brad Buchanan and Andrew Michols of JLL represented the seller in the transaction. Charlotte-based Collett Capital purchased the property for $8.7 million. Constructed in 2006 and anchored by Best Buy, Westbrook Plaza was fully leased at the time of sale to tenants including Burn Boot Camp, Mattress Firm, WNB Factory, Pazzi’s Pizza, Paris Nails and Pet Pleasers Bakery. Located at 668 Dawsonville Highway, the center is situated less than one mile from Lake Lanier, which provides an annual economic impact of over $5.5 billion.
CHATTANOOGA, TENN. — NAI Charter has brokered the sale of an office building located at 505 Riverfront Parkway in downtown Chattanooga. Trident Transport, a Chattanooga-based freight brokerage and logistics business, purchased the office building for $6.2 million. Robert Maclellan of NAI Charter arranged the transaction. Previously occupied by hotel operator 3H Group, the 23,000-square-foot office property will serve as Trident Transport’s new headquarters as the company relocates from its current office on Chestnut Street. This year, Trident added about 150 people to its staff, and the company plans to hire approximately 125 more people next year.