AURORA, ILL. — Interra Realty has brokered the sale of Downer Place Apartments in Aurora for $2 million. The 24-unit property is located at 449 W. Downer Place. The three-story building includes four one-bedroom units and 20 two-bedroom units with an average unit size of 1,150 square feet. James Clough of Interra represented the undisclosed buyer and seller.
COLLEGE PARK, MD. — TSB Realty LLC has arranged the sale of Terrapin Row, a 1,493-bed student housing community located adjacent to the University of Maryland in College Park. A joint venture between Toll Brothers Campus Living and a fund managed by Ares Management developed the property, delivering in the fall of 2016. The sales price and buyer were not disclosed. Terrapin Row offers a mix of studio to four-bedroom floor plans, plus selected two-and four-bedroom townhome-style units. Community amenities include a resort-style pool, volleyball court, outdoor television and kitchen area, fitness center, golf simulator, media and gaming rooms and complimentary Starbucks Coffee kiosks. Pinnacle Campus Living, a newly formed joint venture between Pinnacle Property Management Services and Campus Evolution Villages, will manage the property.
DENTON, TEXAS — Dallas-based investment firm Mohr Capital has sold a 422,819-square-foot industrial facility situated on 30 acres at 2800 Airport Road in Denton. The property is 100 percent leased to The ESAB Group, a provider of welding supplies. Adam Herrin of HFF represented Mohr Capital in the sale. New York-based private equity firm New Mountain Capital purchased the property for an undisclosed price.
COLLEGE STATION, TEXAS — Marcus & Millichap has brokered the sale of Storage Depot, a 242-unit self-storage facility situated on 4.6 acres at 11990 Old Wellborn Road in College Station, about four miles south of Texas A&M University’s campus. Built in 1993, the property features 37,260 square feet of net rentable storage space. Nicholas Ling of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Dave Knobler of Marcus & Millichap procured the buyer, also a limited liability company. Both parties requested anonymity.
MONTGOMERY, TEXAS — Retail brokerage firm Baker Katz has secured a 7,300-square-foot retail lease at the corner of State Highway 105 and Lone Star Parkway in Montgomery on behalf of Pet Supplies Plus. Lunden McGill of Baker Katz represented the tenant in the lease negotiations. Scott Gardner of Streetwise Retail Advisors represented the landlord, Gulf Coast Commercial LLC. The store is scheduled to open in early 2018.
PHOENIX — Wood Partners has sold the 350-unit Altera Highland apartments in Phoenix for an undisclosed sum. The community is located at 1602 E. Highland Ave. The buyer was not disclosed. Altera Highland was built in 1998. It features one- to three-bedroom units, all of which were renovated in 2017. The owners also renovated the clubhouse, fitness center, resort-style pool and spa area, private cabanas, outdoor kitchen and outdoor fireplace. CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch represented Wood Partners in the transaction.
PORTLAND, ORE. — The first two tenants have been announced at Field Office, a $100 million office project being developed in Portland’s Frontside district. The two-building office and retail space will house Adpearance and The Children’s Garden when it opens in early 2018. Both tenants are local companies. The full-service digital marketing agency will occupy 30,000 square feet in Field Office’s West building. The early childhood learning center will be situated on the ground floor of the same building. National Real Estate Advisors is developing Field Office.
MCHENRY, ILL. — Podolsky Circle has arranged the sale of a 288,00-square-foot industrial property in McHenry, about 50 miles northwest of Chicago. Brake Parts Inc. (BPI) occupies the property, located at 4400 Prime Parkway, for its global headquarters. Built in 1990, the two-story building features 30-foot clear heights. Alissa Adler, John Homsher and Paul Tesdal of Podolsky Circle represented the seller, Centurion Investments. Brennan Investment Group purchased the property and now owns the entire BPI campus, which also includes a property on Corporate Drive.
SANDY SPRINGS, GA. — Crescent Real Estate LLC has acquired the Westin Atlanta Perimeter North, a 372-room hotel in Sandy Springs, roughly 15 miles north of downtown Atlanta. The Atlanta Business Chronicle reports a joint venture between Carey Watermark Investors and The Arden Group Inc. sold the asset for $84.9 million. The hotel is located adjacent to the 63-acre Concourse Corporate Center, a 2.2 million-square-foot, Class A office complex in Atlanta’s Central Perimeter office submarket that includes the “King and Queen” office towers. The Westin Atlanta Perimeter North features 20,000 square feet of meeting space, a business center, fitness studio, outdoor pool and the SAVOR bar and kitchen. The hotel was renovated in 2014 to include enhancements to rooms, public areas, meeting space and food and beverage facilities. HEI Hotels will manage the property on behalf of the new ownership.
BALTIMORE — Cushman & Wakefield has arranged the $32.8 million sale of 120 E. Baltimore St., a 25-story office tower in Baltimore. Graham Savage and Nicole Keelty of Cushman & Wakefield arranged the transaction on behalf of the buyer, Boston-based Grander Capital Partners. The seller was not disclosed. At the time of sale, the office building was 75 percent leased to SunTrust Bank, State of Maryland Pension System and the Baltimore City State Attorney’s Office.
