REBusinessOnline

Tag Archives

HFO Buys 210-Unit Latitude Apartments in Happy Valley for $58M

HAPPY VALLEY, ORE. — HFO Investment Real Estate has purchased the 210-unit Latitude Apartments in Happy Valley for $58 million. The community is located at 11282 S.E. Causey Circle. Latitude Apartments was built in two phases between 2008 and 2014. It is situated near Clackamas Town Center. Amenities include a dog run and grooming station, electronic parcel lockers, bike repair station, fitness facility, pool, basketball court and direct-entry garages. Kennedy Wilson represented both..

September 25, 2017

NKF Facilitates $51.5M Sale of Office Park in Waltham, Massachusetts

WALTHAM, MASS. — Newmark Knight Frank (NKF) has arranged the sale of Totten Pond Office Park, an office complex located in Waltham. Northwood Investors acquired the property from TA Realty for $51.5 million. Located at 400, 410 and 460 Totten Pond Road, the three-building office park was 87 percent leased to 43 tenants at the time of sale. On-site amenities for the office park include a cafeteria, fitness center, conference room and café. Robert Griffin, Edward Maher, Matthew Pullen, James..

September 25, 2017

FCP, Urban Atlantic Acquire Two Apartment Assets in Metro D.C. for $44M

FORESTVILLE AND CAPITOL HEIGHTS, MD. — Federal Capital Partners (FCP), in a joint venture with Urban Atlantic, has acquired two apartment assets in metro Washington, D.C. for a combined $44 million. Christine Espenshade and Robert Garrish of JLL arranged the transaction on behalf of the buyer. Located at 5521 Marlboro Pike in Forestville, Holly Springs Meadows is roughly 12 miles southeast of Washington, D.C. The pet-friendly community features modern kitchens, a playground and open courtyard..

September 25, 2017

Marcus & Millichap Arranges $8.1M Sale of Multifamily Community in Virginia Beach

VIRGINIA BEACH, VA. — Marcus & Millichap has brokered the $8.1 million sale of Hollygreen Apartments, a 96-unit multifamily community located at 3429 Hollygreen Drive in Virginia Beach. Altay Uzun and Justin Ferguson of Marcus & Millichap represented the sellers, private investors who had owned the property since its construction in 1984, in the 1031 exchange. Uzun also procured the undisclosed buyer. The community includes one- and two-bedroom floor plans and features a fitness..

September 25, 2017

Stein Sells Three Self-Storage Properties in Metro Atlanta Totaling 300,000 SF

CUMMING, MARIETTA AND ATLANTA, GA. — Atlanta-based Stein Investment Group has sold three of its Space Shop Self Storage properties in metro Atlanta totaling approximately 300,000 square feet. Life Storage LP acquired the Cumming, Marietta and Atlanta properties for an undisclosed price on behalf of one of its joint venture partners. The 103,700-square foot Space Shop Cumming features 800 units and was 90 percent leased at the time of sale. Located at 3148 Johnson Ferry Road in Marietta,..

September 25, 2017

Three Restaurants, Hotel to Join 160,000 SF Retail Center in Metro Oklahoma City

YUKON, OKLA. — Hooter’s, Cheddar’s Scratch Kitchen and Arby’s will join The Market at Czech Hall, a 160,000-square-foot retail center situated along Interstate 40 in Yukon, about 17 miles west of Oklahoma City. The restaurants will occupy three different pad sites totaling about 2.2 acres. Along with the restaurants, a Sleep Inn hotel will also open on the property, which is owned by GBT Realty Corp., at various times in 2018.

September 25, 2017

JLL Negotiates Sale of 275,000 SF Warehouse in Houston

HOUSTON — JLL has negotiated the sale of a 275,000-square-foot warehouse located at 550 Aleen St. in Houston. The property features 27-foot clear heights, 44 dock-high doors and a fully fenced truck court. Ryan Fuselier and Travis Secor of JLL represented the buyer, Polymers Packaging and Warehousing Inc., a Houston-based supplier of plastic resins. The space will serve as the company’s new global manufacturing and distribution center. Bob Berry and Grant Hortenstine of Avison Young..

September 25, 2017

ORG Acquires 879,704 SF Industrial Portfolio in Milwaukee

MILWAUKEE — Oak Realty Group Inc. (ORG) has acquired an 879,704-square-foot industrial portfolio in Milwaukee. The 10 buildings are situated on approximately 57 acres near Milwaukee’s General Mitchell International Airport. Originally constructed in phases through 2004 by a local developer, the buildings range in size from 40,000 to 215,000 square feet. ORG plans to upgrade and renovate the portfolio, as well as work with several tenants who want to expand. ORG partnered with The Africk..

September 25, 2017

Tucker Development Completes Lease-Up of Office Building in Chicago’s Fulton Market

CHICAGO — Tucker Development has completed the lease-up of the Offices at 900 West in Chicago. The property, which includes 45,000 square feet of retail space, is located in the heart of the Fulton Market neighborhood. Spaces, an Amsterdam-based co-working space provider, signed a 40,000-square-foot lease. Bill Rogers and Kerry Gilar of JLL represented Spaces in the deal. The firm will occupy its space in early 2018. In a separate transaction, private investment firm ParkerGale leased 6,146..

September 25, 2017

Marcus & Millichap Brokers $9M Condo Deconversion in Chicago

LAKEVIEW, ILL. — Marcus & Millichap has brokered the sale of 3244 N. Clifton Ave. in Chicago’s Lakeview neighborhood for $9 million. The condominium building features 32 units. Kyle Stengle of Marcus & Millichap marketed the property on behalf of the condo owners. Stengle also secured the buyer, Beal Properties. Under the Condominium Property Act in Illinois, condo unit owners can elect to sell a condo property if 75 percent or more are in agreement. Sellers then have the option to..

September 25, 2017