OKLAHOMA CITY — Dallas-based Vanguard Real Estate Advisors has brokered the sale of Spring Hill Apartments, a 104-unit multifamily property in Oklahoma City. Built in 1984, the pet-friendly community offers studio, one- and two-bedroom units. Jordan Cortez of Vanguard represented the seller, Chicago-based AMG Cherry Hill LLC, in the all-cash transaction. Cortez also procured the buyer, a private investor based in North Texas that acquired the property via a 1031 exchange.
ANNAPOLIS, MD. — Hersha Hospitality Trust has acquired the Annapolis Waterfront Hotel, a 150-room hotel in Annapolis, for $41.5 million. The name of the seller was not disclosed. The hotel was rebranded to Marriott International’s Autograph Collection Hotels in 2015, and features a business center, docking, laundry service, fitness center and an onsite restaurant and bar — Pusser’s Caribbean Grille. The hotel is situated on the Chesapeake Bay harbor, adjacent to the Annapolis town square and three blocks from the main gate of the United States Naval Academy.
ALEXANDRIA, VA. — The Meridian Group has sold Cameron Run, a 145,244-square-foot office building in Alexandria, for $37.8 million. The property is located at 3601 Eisenhower Ave., roughly eight miles south of Washington, D.C. Monday Properties acquired the six-story building. Eric Berkman and the late Juliana Ko of Cushman & Wakefield arranged the transaction on behalf of Meridian, which originally acquired the asset in 2012. Meridian invested $1.7 million in capital improvements at Cameron Run, including cooling tower replacements, garage enhancements, a new fitness center, new café, additional landscaping and a renovated lobby, restrooms and elevators. The building was fully leased at the time of sale to 13 tenants, including engineering company Michael Baker Corp., which occupies 50,709 square feet.
WILMINGTON, N.C. — Cushman & Wakefield has brokered the $30.3 million sale of Myrtle Landing, a 144-unit apartment community in the coastal North Carolina town of Wilmington. Jordan McCarley, Watson Bryant and Paul Marley of Cushman & Wakefield arranged the transaction on behalf of the seller, Tribute Cos. Spyglass Capital Partners acquired the property. The townhome-style community includes two- and three-bedroom floor plans and features a dog park, outdoor grilling kitchen, fitness center, pool and onsite maintenance. In addition, the property is located roughly five miles from Carolina Beach.
COLORADO SPRINGS, COLO. — Security Properties has purchased the 220-unit Willows at Printers Park apartment complex in Colorado Springs for $41 million. The community is located at 2205 Willow Tree Grove, two miles east of downtown. Willows at Printers Park contains one- to three-bedroom apartments with well-appointed kitchens, walk-in closets, in-unit full-size washers and dryers, and private patios/balconies. Amenities include a swimming pool, clubhouse with a small kitchen and attached business center, playground, and fire pit gazebo. Security Properties plans to upgrade the property, continuing the unit renovations initiated by prior ownership, adding aesthetic upgrades to the clubhouse and expanding the amenity offerings. Security Properties-affiliate Security Properties Residential will manage the property.
BOYNTON BEACH, FLA. — Charlotte-based FCA Partners has sold Shoppes of Boynton, a 151,000-square-foot shopping center in the South Florida city of Boynton Beach, for $27.8 million. Dennis Carson and Casey Rosen of CBRE arranged the transaction on behalf of FCA. Northbridge Investment Management acquired the property on behalf of an institutional client. Shoppes of Boynton is home to tenants such as Ross Dress for Less, Dollar Tree, Tuesday Morning, Ale House, Chili’s, FedEx Office, MD Now and Pollo Tropical. The center was 87 percent leased at the time of sale.
GRAND RAPIDS, MICH. — NAI Wisinski has brokered the sale of Northland Plaza in Grand Rapids for an undisclosed price. The 20,168-square-foot shopping center is located at 3325 Plainfield Ave. NE. The property, currently home to a fitness center and tanning salon, will be renovated. Bill Tyson and Todd Leinberger of NAI Wisinski represented the buyer, 1923 Property LLC. Darrel Herweyer of DAR Development represented the undisclosed seller.
ADDISON, ILL. — Lee & Associates has negotiated the $2 million sale of two industrial buildings in Addison, about 20 miles west of Chicago. The properties include a 13,884-square-foot building at 1236 Capitol Drive and a 15,200-square-foot building at 1770 Cortland Court. Jay Farnam represented the seller in both transactions. Neither the buyer nor the seller was disclosed.
HOUSTON — HFF has arranged the sale of Intrepid Business Park, a 270,750-square-foot industrial asset located in northwest Houston. Developed between 2014 and 2015, the Class A property is situated on 17.1 acres and offers convenient access to Beltway 8, U.S. Highway 290 and Interstate 10. Building features include 30-foot clear heights and 58 dock-high doors. Approximately 14.3 percent of the square footage is office space. Trent Agnew, Rusty Tamlyn and Dane Petersen of HFF represented the seller, Triten Real Estate Partners, in the transaction. The buyer and sales price were not disclosed.
TULARE AND HANFORD, CALIF. — Retail California has arranged leases for two retail spaces in Tulare and Hanford, both located between Los Angeles and the Bay Area. In the first deal, The Habit Burger Grill leased 16,837 square feet of restaurant space at 989 E. Prosperity Ave. in Tulare. Prosperity Equity Partners is the landlord. Nick Frechou of Retail California and Shane Anderson of Commercial Retail Associates brokered the transaction. In the second deal, Aldi Food Market signed a lease for 22,500 square feet of retail space at the southwest corner of 12th Avenue and Lacey Boulevard in Hanford. Eureka Development Co. is the landlord. Frechou and Michael Arfsten of Retail California, along with Chris Campbell of CB Commercial, arranged the transaction.
