sales_and_leases

Fitzsimons Junction Apartments in Colorado Sells for $13.2M

by Nellie Day February 6, 2018

AURORA, COLO. — A local private investor has acquired the 126-unit Fitzsimons Junction apartment complex in Aurora for $13.2 million. The community is located at 14155 Montview Blvd. It was built in 1974. Fitzsimons Junction is made up of one-, two- and three-bedroom units, all with decks or patios. Amenities include numerous laundry rooms, covered parking and an outdoor swimming pool. Greg Price and Jason Hornik of Marcus & Millichap represented both the buyer and seller, another private investor, in this transaction.

February 6, 2018

North Carolina Office Southeast

Rockford, Blue Vista Acquire 153,000 SF Office Building in Charlotte

by Camren Skelton February 6, 2018

CHARLOTTE, N.C. — Rockford Capital Partners, in partnership with Blue Vista Capital Management, has acquired Four Resource Square, a 153,000-square-foot office building in Charlotte’s University submarket. Rob Cochran and Jared Londry of Cushman & Wakefield arranged the transaction on behalf of the undisclosed seller. The sales price was not disclosed. Medical technology provider Allscripts anchors Four Resource Square. Rockford and Blue Vista plan to invest in capital improvements to upgrade the building and available suites. Joe Franco and Katherine Richey of CBRE will handle the building’s leasing assignment on behalf of the new ownership.

February 6, 2018

Office Texas

Transwestern Negotiates Two Office Leases Totaling 142,000 SF in Plano

by Taylor Williams February 6, 2018

PLANO, TEXAS — Transwestern has negotiated two office leases totaling more than 142,000 square feet at Legacy Tennyson Center, a Class A office development in Plano. WorldVentures, a marketer of vacation clubs and packages, expanded its footprint at the property from 100,000 to 125,000 square feet and Connecticut-based insurance company Affinion Group leased 17,153 square feet. Legacy Tennyson Center consists of two buildings totaling 202,600 square feet and offers tenants an outdoor courtyard area and a jogging trail.

February 6, 2018

Industrial Office Texas

JLL Brokers Sale of 93,000 SF Flex Property in Northwest Houston

by Taylor Williams February 6, 2018

HOUSTON — JLL has brokered the sale of a 93,000-square-foot flex property located at 7207 Gessner Road in northwest Houston. GBP Industrial purchased the building from California-based development/management firm Goldrich & Kest Industries LLC. Built in 1997, the two-story, Class B building is fully leased to LabCorp, a North Carolina-based healthcare diagnostics firm. Dustin Volz, Kevin McConn, Rick Goings, Zane Marcell and Grant Matthews of JLL brokered the sale.

February 6, 2018

Office Texas

Skywalker’s Hangover Opportunity Fund Sells 66,885 SF Office Campus in Irving

by Taylor Williams February 6, 2018

IRVING, TEXAS — Hangover Opportunity Fund LLC, a fund managed by Arlington-based Skywalker Property Partners, has sold a three-building, 66,885-square-foot office campus in Irving to an undisclosed oil and gas firm. The buildings are situated on 4.6 acres at 6301, 6321 and 6341 Campus Circle Drive, just outside Dallas-Fort Worth International Airport. The property recently underwent a $350,000 capital improvements program to repair foundations and underground plumbing, revamp the landscaping and develop office suites on a speculative basis. Matt Hurlbut of Transwestern represented the seller in the all-cash transaction. Zack Stevens of NAI Robert Lynn represented the buyer.

February 6, 2018

Illinois Industrial Midwest

Entre Commercial Realty Brokers Sale of 41,803 SF Industrial Building in Lincolnshire, Illinois

by Kristin Harlow February 6, 2018

LINCOLNSHIRE, ILL. — Entre Commercial Realty LLC has brokered the sale of a 41,803-square-foot industrial building in Lincolnshire. The sales price was not disclosed. Security Lock Distributors, an electrical and mechanical door hardware company, purchased the facility. The distributor’s current facility in Buffalo Grove is available for lease. The Lincolnshire property, located at 640 Heathrow Drive within the Lincolnshire Business Park, features four interior docks, 4,280 square feet of office space and a clear height of 21 feet. Brian Bocci of Entre represented Security Lock Distributors. Jason Talanian of Glenwood Commercial Real Estate represented the undisclosed seller.

February 6, 2018

Healthcare Texas

Norvin Acquires 505,000 SF Medical Office Park in Metro Houston

by Taylor Williams February 5, 2018

BELLAIRE, TEXAS — Houston-based investment firm Norvin Healthcare Properties has acquired the 505,000-square-foot Pin Oak medical office complex in the Houston metro of Bellaire. The five-building property is located roughly 3.5 miles from the Texas Medical Center and is leased to healthcare tenants such as Memorial Hermann, Kindred Healthcare and Texas Children’s Hospital. Norvin intends to make capital upgrades to the property’s mechanical systems, parking garages and tenant amenities.

February 5, 2018

Industrial Multifamily Northeast Pennsylvania

Colliers Arranges $4.1M Sale of Former Red Bell Brewery in Philadelphia

by Amy Works February 5, 2018

PHILADELPHIA — Colliers International has brokered the sale of the former Red Bell Brewery site, located at 1500 N. 31st St. in Philadelphia. MM Partners LLC purchased the site for $4.1 million. The buyer plans to redevelop the property into residential apartment units with ground-floor retail space. Situated on 2.2 acres, the vacant building consists of three sections that total 204,276 square feet of interior building space. Red Bell Brewery was constructed in the 1890s for the F.A. Poth & Sons Brewing Co. Later it was owned by Abe L. Brewery LP. The property has been vacant for 20 years. Michael Barmash of Colliers International/Philadelphia brokered the transaction.

February 5, 2018

Florida Multifamily Southeast

ARA Newmark Brokers $64.1M Sale of Multifamily Community in Tampa Bay Area

by Camren Skelton February 5, 2018

ST. PETERSBURG, FLA. — ARA Newmark has arranged the $64.1 million sale of Reserve at Gateway, a 314-unit apartment community located at 500 Trinity Lane in St. Petersburg. Patrick Dufour, Richard Donnellan, Scott Ramey and Ryan Crowley of ARA Newmark arranged the transaction on behalf of the seller, New York-based Clarion Partners. Matthew Williams of NKF Capital Markets arranged acquisition financing for the asset on behalf of the buyer, Philadelphia-based Equus Capital Partners. Constructed in 1999, the property underwent renovations between 2013 and 2017. Individual units feature crown molding, faux-wood flooring, stainless steel appliances, granite countertops and new cabinetry and lighting. Community amenities include a resort-style pool, outdoor kitchen, fitness center, lighted tennis court, car care center and a dog park.

February 5, 2018

Industrial Kansas Midwest

Joint Venture Acquires 589,391 SF Industrial Portfolio in Lenexa, Kansas

by Kristin Harlow February 5, 2018

LENEXA, KAN. — A joint venture between Prism Real Estate Services LLC and Ameritas Life Insurance Corp. has acquired the Lenexa Industrial Park portfolio in Kansas. The purchase price was not disclosed. The portfolio consists of 17 industrial and flex buildings totaling 589,391 square feet. Hugh Zimmer developed the properties, which are located at the interchange of I-35 and I-435. Michael VanBuskirk, David Zimmer and Chris Robertson of Newmark Grubb Zimmer (NGZ) represented the buyer in the transaction. NGZ will handle leasing and management of the properties. Joe Platt and Alex Hilton of Grandbridge Real Estate Capital will arrange debt placement on behalf of the buyer.

February 5, 2018

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