sales_and_leases

HDP, Hotel Equities Acquire a Portfolio of Marriott Hotels in Georgia

by John Nelson April 15, 2015

ATLANTA — Atlanta-based Hotel Development Partners (HDP) and its joint venture partner, Atlanta-based Hotel Equities, have acquired a portfolio of seven select-service Marriott hotels in metro Atlanta and Macon. The joint venture purchased the portfolio from Houston-based Moody National for an undisclosed price. The seven hotels are Fairfield Inn & Suites in Macon, Fairfield Inn & Suites Alpharetta, Fairfield Inn & Suites Buckhead, Fairfield Inn & Suites Perimeter Center, SpringHill Suites Alpharetta, TownePlace Alpharetta and TownePlace Suites Kennesaw. HDP and Hotel Equities plan to invest $17 million in the portfolio for capital improvements. Hotel Equities will manage the seven hotels.

April 15, 2015

California Office Western

PCCP Buys Stoneview Plaza in Roseville

by Nellie Day April 15, 2015

ROSEVILLE, CALIF. – PCCP LLC has acquired Stoneview Plaza, a 108,354-square-foot office building in Roseville, for an undisclosed sum. The building is located at 3001 Lava Ridge Court. It is currently 72.5 percent occupied. The property will be managed by Basin Street Properties, while leasing efforts will be handled by Newmark Cornish and Carey.

April 15, 2015

Multifamily Texas

M&M Arranges Sale of Multifamily Complex in Metro Dallas

by Haisten Willis April 14, 2015

IRVING, TEXAS — Marcus & Millichap has arranged the sale of Woodwind Condominiums, a 52-unit apartment property located in Irving. Al Silva of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, an out-of-state partnership. Silva also secured the buyer, a local private investor. The sale also included an adjacent parcel of land totaling 3.7 acres, which is already zoned for new multifamily development. The new owner plans to make improvements to the existing units to make the property more competitive with others in the area. Woodwind Condominiums is located at 3947 Pleasant Run Road and was constructed in 1983. The property is located near George Bush Parkway and Walnut Hill Lane just 10 minutes from D/FW International Airport.

April 14, 2015

Georgia Retail Southeast

Crossman & Co. Brokers $8.6M Sale of Shopping Center in Roswell

by John Nelson April 14, 2015

ROSWELL, GA. — Crossman & Co. has brokered the $8.6 million sale of Market Center, an 82,225-square-foot shopping center located on Holcomb Bridge Road in Roswell, a suburb of Atlanta. The Office Depot-anchored center was built in 1990 and was 56 percent leased at the time of sale. Brian Carolan and John Zielinski of Crossman & Co. represented the institutional seller in the transaction. The buyer was an unnamed investment fund.

April 14, 2015

Industrial Utah Western

CCI Mechanical Buys Cache Valley Electric Facility in Salt Lake City

by Nellie Day April 14, 2015

SALT LAKE CITY – CCI Mechanical has acquired the 77,000-square-foot Cache Valley Electric Facility in Salt Lake City for an undisclosed sum. The facility is located at 2345 S. John Henry Drive. The design-build mechanical contractor specialist will move into the building shortly. CCI was represented by Kyle Roberts of Newmark Grubb ACRES. The seller, Cache Valley Electric, was represented by Lucas M. Burbank of NGA.

April 14, 2015

California Retail Western

Liberty Station Office, Retail Building Sells in San Diego

by Nellie Day April 14, 2015

SAN DIEGO – A 37,333-square-foot office and retail building in San Diego has sold to Tower Investments for $5.2 million. The property is located at 2751 Roosevelt Road. It has six tenant spaces and is anchored by the Point Loma Sports Club and San Diego Gymnastics. The seller, Liberty Station 210 Investors, was represented by Tracy C. Clark and Kimberly Clark of Voit Real Estate Services’ San Diego office.

April 14, 2015

Arizona Retail Western

Mattress Firm Signs Three Leases in Arizona

by Nellie Day April 14, 2015

PHOENIX – Mattress Firm has signed three leases throughout Arizona. The bedding retailer signed leases for a 7,000-square-foot location at Emerald Center in Tempe; a 3,500-square-foot location in the Silverstone Marketplace in Scottsdale; and a 3,800-square-foot location in Mesa. Mattress Firm was represented by Darren Pitts and Michael Clark of Velocity Retail Group in all three transactions.

April 14, 2015

Colorado Office Western

HealthONE Rose Surgery Center Trades Hands in Denver

by Nellie Day April 14, 2015

DENVER – A multi-tenant medical office building that houses the HealthONE Rose Surgery Center and Cherry Creek Eye Center has sold to Jaman Solutions LLC for an undisclosed sum. The 19,026-square-foot center is located at 4999 East Kentucky Ave. in the Glendale submarket. Jaman was represented by Eric Schierburg of Marcus & Millichap. The seller, CCEC LLC, was represented by Brian C. Smith of the same firm.

April 14, 2015

Florida Multifamily Southeast

CBRE Brokers Sale of Central Florida Multifamily Portfolio

by John Nelson April 13, 2015

ORLANDO, FLA. — CBRE has brokered the sale of a four-property multifamily portfolio in Central Florida that totals 1,075 residential units. The portfolio includes Vinings at Hunter’s Green in Tampa and Heritage on Millenia, Summit at Metrowest and Legends at ChampionsGate in Orlando. The portfolio was acquired by affiliates of Dallas- and New York-based The Milestone Group LLC and Milestone Apartments Real Estate Investment Trust and represents the largest apartment transaction in Central Florida in 2015 to date, according to CBRE. Shelton Granade, Luke Wickham and Justin Basquill of CBRE represented the seller in the transaction.

April 13, 2015

Multifamily New York Northeast Pennsylvania

Marcus & Millichap Arranges $88M Sale of Manufactured Housing Portfolio

by Amy Works April 13, 2015

PITTSFORD, N.Y. — Marcus & Millichap has brokered the sale of an 11-property manufactured housing portfolio located in western New York and Pennsylvania. Federal Capital Partners and Horizon Land Co. purchased the 2,413-site portfolio from Pittsford-based Morgan Management. Jonathon McClellan, Kyle Baskin, J.D. Parker and Mark Taylor of Marcus & Millichap represented the seller in the transaction.

April 13, 2015

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