sales_and_leases

Campus First Acquires 661-Bed Student Housing Community Near University of Florida

by Camren Skelton February 21, 2018

GAINESVILLE, FLA. — Campus First Student Living has acquired The Ridge, a 661-bed student housing community located less than one mile from the University of Florida campus in Gainesville. The property offers two-, four- and five-bedroom, apartment- and townhome-style units. Shared amenities include a three-room fitness center, clubhouse, study lounges, a beach entry pool, hot tub and lazy river. Planned renovations for the community — set for completion this fall — include improvements to the clubhouse and the addition of private study areas, fire pits, outdoor game areas, a yoga studio and a dog park. Ryan Lang of ARA Newmark’s Student Housing Group represented the seller in the transaction.

February 21, 2018

Multifamily Texas

CBRE Negotiates Sale of 148-Unit Apartment Complex in Houston

by Taylor Williams February 20, 2018

HOUSTON — CBRE has negotiated the sale of The Club at Stablechase, a 148-unit multifamily complex located in the Champions area of Houston. Built in 1999, the property features one-, two- and three-bedroom units that average 1,012 square feet. Amenities include a business center and 24-hour fitness center. The property was 90 percent occupied at the time of sale. Matt Phillips and Clint Duncan of CBRE represented the seller, CFH Investment Partners, in the transaction. Houston-based Mosaic Residential Inc. purchased the asset for an undisclosed price.

February 20, 2018

California Office Western

Harbor Associates Buys 198,478 SF Office Campus in Thousand Oaks for $22.9M

by Nellie Day February 20, 2018

THOUSAND OAKS, CALIF. — Harbor Associates has purchased an office campus in the North Los Angeles submarket of Thousand Oaks for $22.9 million. The Conejo Corporate Campus is a 198,478-square-foot, low-rise office complex located at 2380 & 2400 Conejo Spectrum St. Conejo Corporate Campus recently underwent a significant renovation, including addition of numerous meeting and conference rooms, grand lobbies, a landscaped outdoor plaza, high speed fiber-optic internet and Venetian plastered walls.

February 20, 2018

Industrial Texas

Bradford Commercial Arranges Sale of 38,500 SF Warehouse in Dallas

by Taylor Williams February 20, 2018

DALLAS — Bradford Commercial Real Estate Services has arranged the sale of a 38,500-square-foot warehouse located within Lone Star Business Park in Dallas. The property offers convenient access to Interstate 30 and downtown Dallas and features 3,376 square feet of office space, 23-foot clear heights and six loading docks. Joe Santaularia and Brock Wilson of Bradford Commercial represented the seller, 6 Brothers Realty Ltd. An affiliate of Dallas-based private equity firm Stonelake Capital Partners purchased the property for an undisclosed price.

February 20, 2018

Retail Texas

Retail Solutions Brokers Sale of 4,000 SF Strip Retail Center in Metro Austin

by Taylor Williams February 20, 2018

MANOR, TEXAS — Retail Solutions has brokered the sale of Manor Station, a 4,000-square-foot strip retail center located in the eastern Austin suburb of Manor. The property was built in 2009 and was 100 percent leased at the time of sale. Kevin Murphy of Retail Solutions represented the seller in the transaction and Thomas Allen of Practice Real Estate Group represented the buyer. Both parties requested anonymity.

February 20, 2018

California Industrial Western

Providence II Centerpointe Sells 60,431 SF Industrial Asset in San Diego for $8.8M

by Nellie Day February 20, 2018

SAN DIEGO — Providence II Centerpointe has sold a 60,431-square-foot flex industrial building in San Diego for $8.8 million. The building is located at 7720 Kenamar Court. The asset is fully leased to two tenants with long-term leases The buyer was 7720 Kenamar CT Holdings LLC. Colliers International represented Providence in the sale.

February 20, 2018

Multifamily Seniors Housing Washington Western

ESI Arranges Sale of Assisted Living Facility in Washington for $7M

by Nellie Day February 20, 2018

BELLINGHAM, WASH. — Evans Senior Investments (ESI) has arranged the sale of Rosewood Villa, a 66-unit assisted living community in Bellingham, for $7 million. Rosewood Villa was built in 1978 and is located approximately 87 miles north of Seattle, near the Canadian border. An independent owner-operator sold the property to a California-based private equity firm. The 40,533-square-foot community averaged 93.9 percent occupancy over the prior 12 months. The sale represents $106,000 per unit and a capitalization rate of 8.5 percent.

February 20, 2018

Colorado Office Western

Plexus Leases 26,500 SF of Office Space at Business Park Near Denver

by Nellie Day February 20, 2018

LOUISVILLE, COLO. — Plexus has leased 26,500 square feet at Centennial Valley Business Park in Louisville. The two-story, 58,300-square-foot spec office building is located at 168 Centennial Parkway just north of Denver. The building features flexible floorplans, access to multiple fiber optic providers, landscaped grounds and an office campus setting. It is situated just off U.S. Highway 36 in Centennial Valley Business Park, within walking distance to McCaslin Boulevard’s numerous dining and shopping options. The global engineering/manufacturing firm is expanding from its current Louisville location. It will occupy the new space this May. CBRE’s Lee Diamond represented Plexus. The firm’s Frank Kelley, Erik Abrahamson and Joe Faller represented the landlord, Koelbel, in this transaction.

February 20, 2018

Industrial Northeast Pennsylvania

Avison Young Negotiates $6.6M Sale of Industrial Property in Metro Philadelphia

by Amy Works February 20, 2018

MALVERN, PA. — Avison Young has arranged the sale of an industrial property, located at 17 Lee Blvd. in Malvern, a suburb of Philadelphia. A private buyer acquired the building for $6.6 million. At the time of sale, the 58,594-square-foot flex building was fully leased by two tenants. Adam Gillespie and James Pasquarella of Avison Young brokered the transaction.

February 20, 2018

Kentucky Retail Southeast

Mid-America Brokers $59.8M Sale of Two Kroger-Anchored Centers in Lexington

by Camren Skelton February 20, 2018

LEXINGTON, KY. — Mid-America Real Estate Corp. has brokered the $59.8 million sale of two Kroger-anchored shopping centers in Lexington: Tates Creek Centre and Millpond Center. Branch Properties acquired both assets in a single transaction. Joe Girardi of Mid-America arranged the sale on behalf of the seller, Weingarten Realty. The 196,028-square-foot Tates Creek Centre is home to tenants such as Proof Fitness, Rite Aid, MOD Pizza, PNC Bank and H&R Block. Millpond Center totals 124,498 square feet and is home to tenants such as Workout Anytime, Subway and Pizza Hut.

February 20, 2018

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