ODENTON, MD. — Crows Holdings Capital – Real Estate has purchased NOVUS Odenton, a 244-unit multifamily property in Odenton, roughly 30 miles northeast of Washington, D.C. The sales price was not disclosed. Walter Coker and Brian Crivella of HFF marketed the property on behalf of the seller, a joint venture between Cafritz Interests and Clark Enterprises Inc. Located at 315 Nevada Ave., NOVUS Odenton is within walking distance of the Odenton MARC train station, which provides service to both the D.C. and Baltimore central business districts. The community includes one-, two- and three-bedroom units and features nine-foot ceilings, granite countertops, faux wood plank flooring, walk-in closets and in-unit washers and dryers. Community amenities include a swimming pool, patios with outdoor cooking areas, fitness center, yoga room, theater and media room, game room and a pet-grooming salon.
sales_and_leases
JOHNS CREEK, GA. — Sealy & Co. has acquired the Johns Creek Value & Income Portfolio, a 277,201-square-foot, single-story office portfolio in Johns Creek, roughly 30 miles north of Atlanta. The acquisition was made on behalf of Sealy Strategic Equity Partners. The sales price was not disclosed. At the time of sale, the portfolio was 89 percent leased and home to three company headquarters: ARRIS International, Femasys and Alpha Advanced Materials.
LITHIA SPRINGS, GA. — Katz Properties has acquired the Village at Westfork, a Kroger-anchored shopping center in Lithia Springs, for $11.6 million. The 75,947-square-foot property is roughly 18 miles west of Atlanta. Ladder Capital provided financing for the acquisition. The seller was not disclosed. New York-based Katz Properties is a real estate investment, development and management company that focuses on the acquisition, operation and repositioning of shopping centers on the East Coast.
ALEXANDRIA, VA. — The American College of Osteopathic Surgeons (ACOS) has leased 7,867 square feet at 1680 Duke Street, a five-story boutique office building in Alexandria, roughly eight miles south of Washington, D.C. Donahoe Real Estate Services represented the landlord, KP Duke Street LLC, in the lease transaction, and CRESA DC represented ACOS. The 48,000-square-foot building has undergone renovations including a new entrance and lobby and modernized elevators. ACOS will occupy the fifth floor of the building. With the lease, 1680 Duke Street is 90 percent leased to tenants including the National School Boards Association and CVS/pharmacy.
FARMERS BRANCH, TEXAS — ARA Newmark has brokered the sale of Ventana at Valwood, a 265-unit apartment community located at 14221 Heritage Circle in the Dallas metro of Farmers Branch. The property was built in the 1960s and renovated in 2007. The buyer and seller were not disclosed.
NORTHLAKE, ILL. — Frozen Assets Cold Storage has signed a 132,000-square-foot industrial lease at Bridge Point Northlake, located about 20 miles west of Chicago. Located at 555 Northwest Ave., the 256,752-square-foot cold storage facility features clear heights of 32 to 40 feet, 104 dock positions and 91 trailer stalls. Headquartered in Chicago, Frozen Assets Cold Storage provides cold storage, freezing, blast freezing, exporting, labeling and cross-docking services. Jason Lev and John Suerth of CBRE represented the landlord, Bridge Development, in the lease transaction. Steve Livaditis, also of CBRE, represented the tenant.
NEW LENOX, ILL. — The Boulder Group has arranged the sale of a retail property net leased to three tenants in New Lenox, about 40 miles southwest of Chicago. AT&T Wireless, Papa John’s and Volver Cantina & Grill occupy the 5,362-square-foot property, located at 701-709 E. Lincoln Highway. Constructed in 2015, the building is an outparcel to the New Lenox Town Center. Randy Blankstein and John Feeney of The Boulder Group represented the seller, a West Coast-based real estate investment group. A West Coast-based real estate investor purchased the property.
OVERLAND PARK, KAN. — Block & Co. Inc. Realtors has brokered the sale of a 2,448-square-foot retail property occupied by Panda Express in Overland Park. The sales price was not disclosed. The property is located within Glenwood Plaza Shopping Center at 9090 Metcalf Ave. Other tenants at the shopping center include Walmart, TJ Maxx, Dollar Tree and Subway. Alex Block and David M. Block of Block & Co. brokered the sale on behalf of the seller, Glo-Rae Glenwood LLC. Block & Co. is the leasing and property management company for both the shopping center and the Panda Express property.
NORTH MIAMI BEACH, FLA. — US Storage Centers has delivered a five-story, 931-unit self-storage facility located at 15555 W. Dixie Highway in North Miami Beach. The company acquired the property in 2015 for $1.4 million and subsequently began construction on the 122,605-square-foot building. The new facility features drive-up access, climate control, passenger elevators, video monitoring, electronic gate access, boxes and moving supplies, moving carts and alarm units. US Storage Centers owns and operates six facilities in the Miami area and is currently developing two additional facilities, which are slated for completion in the fourth quarter.
LAKELAND, FLA. — Avison Young has brokered the $7.2 million sale of Citizens Bank & Trust Plaza, a 71,190-square-foot office building located at 402 S. Kentucky Ave. in Lakeland, a city in Central Florida. David Duckworth, Tim Callahan, Michael Fay and John Crotty of Avison Young represented the undisclosed seller in the sale to South Florida-based Geneva Group. The six-story building was 89.8 percent leased at the time of sale to government-sponsored, financial, engineering and law-related tenants.