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sales_and_leases

MultifamilySouth CarolinaSoutheast

Berkadia Arranges $11.4M Sale of Apartment Asset Near Charleston

by Camren Skelton

HANAHAN, S.C. — Berkadia has arranged the $11.4 million sale of Lakewood Lodge, a 130-unit multifamily property in Hanahan, located roughly 15 miles northwest of Charleston. Mark Boyce and Blake Coffey of Berkadia arranged the transaction on behalf of the seller, South Carolina-based Arim Lakewood LLC. New Jersey-based Eskay Management LLC acquired the asset. Constructed in 1975, Lakewood Lodge offers one- and two-bedroom floor plans. Community amenities include a clubhouse, pool, recreational room, playground, laundry room, courtyard and a business center.

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North CarolinaRetailSoutheast

CRG Closes $5.2M Sale of Grocery-Anchored Center in Coastal North Carolina

by Camren Skelton

CALABASH, N.C. — Cleeman Realty Group (CRG) has arranged the $5.2 million sale of Carolina Commons, a 50,400-square-foot, Food Lion-anchored retail center in Calabash, located 28 miles northeast of Myrtle Beach, S.C. Jacob Baruch, David Kaufman and Michael Cleeman of CRG represented the undisclosed buyer and the seller, a group of TIC investors. Carolina Commons was 93 percent leased at the time of sale.

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Honeywell-Morris-Township-NJ
New JerseyNortheastOffice

Vision Real Estate Acquires 64-Acre Development Site in Morris Township, New Jersey

by Amy Works

MORRIS TOWNSHIP, N.J. — Vision Real Estate Partners, along with a partner firm, has purchased 64 acres of the former Honeywell headquarters campus on Columbia Road in Morris Township for an undisclosed price. The site is approved for office, research and laboratory development, and Vision plans to develop up to 715,000 square feet of premier, build-to-suit corporate headquarters space at the site. Vision Real Estate Partners will oversee the development of the project on Columbia Road.

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CaliforniaRetailWestern

Charles Dunn Co. Brokers $3.9M Sale of 3,727 SF Car Showcase in Beverly Hills

by Nellie Day

BEVERLY HILLS, CALIF. — Charles Dunn Co. Has arranged the sale of a retail property located at 207-209 S. Robertson Blvd. In Beverly Hills. Pagani of Beverly Hills acquired the property from a Los Angeles-based limited liability company for $3.9 million. The buyer plans to renovate the 3,727-square-foot property and use it to showcase and sell its high-end supercars. Justin Mendelson and Joshua Berger of Charles Dunn Co. represented the buyer and advised the seller in the deal.

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CaliforniaRetailWestern

Lee & Associates Negotiates $2.5M Sale of Retail Building in Tustin, California

by Nellie Day

TUSTIN, CALIF. — Lee & Associates has brokered the sale of a retail building located at 535 E. Main St. within the Newport & Main Center in Tustin. Torrance, Calif.-based Rehka Bajaria & Farrand Investments sold the building to Tustin-based Ayala Capital Group for $2.5 million. The building features 4,748 square feet of space. Randy Dalby of Lee & Associates – North San Diego County and Tom Gioia of Lee Irvine represented the seller, while Silverpoint Advisors represented the buyer in the transaction.

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HospitalityTexas

Ashford Hospitality Sells 404-Room Marriott Hotel in Plano for $104M

by Taylor Williams

PLANO, TEXAS — Hospitality REIT Ashford Hospitality Prime Inc. has sold Marriott Plano Legacy Town Center, a 404-room hotel located at 7121 Bishop Road in Plano, for $104 million. Built in 2001, the property features amenities such as a pool, fitness center, multiple dining options and 36,223 square feet of meeting space, and was sold at a cap rate of 7.7 percent. The buyer was not disclosed.

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MultifamilyNorth CarolinaSoutheast

Avison Young Arranges $37.3M Sale of Apartment Community in Raleigh

by Camren Skelton

RALEIGH, N.C. — Avison Young has arranged the $37.3 million sale of Woodfield Glen, a 233-unit apartment community located at 3801 Glen Verde Trail in Raleigh. Peter Sherman, Craig Cadwallader, Grant Linderman and Sam Chow of Avison Young arranged the transaction on behalf of the buyer, California based-Inco Monterra LLC. ARA Newmark represented the seller, Richmond, Va.-based Grayco Inc. Located at the corner of Glenwood Avenue and Lynn Road, the property is located seven miles from downtown Raleigh and four miles from Raleigh-Durham International Airport. Woodfield Glen was constructed in 2008 and features a mix of one-, two- and three-bedroom units. Community amenities include a saltwater pool, fitness center, clubhouse, garages, storage rentals and a game room.

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GeorgiaMultifamilySoutheast

Marcus & Millichap Arranges $13.5M Sale of Multifamily Community in Savannah

by Camren Skelton

SAVANNAH, GA. — Marcus & Millichap has arranged the $13.5 million sale of Heritage Square, a 168-unit apartment community located at 9111 White Bluff in Savannah. John Brigel of Marcus & Millichap arranged the transaction on behalf of the undisclosed sellers and procured the buyer. Additional terms of the transaction were not disclosed. Constructed in 1971, Heritage Square includes one- and two-bedroom units and features a business center, fitness center, clubhouse and a swimming pool.

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IndustrialMidwestWisconsin

Dickman Co. Arranges Sale of 53,000 SF Industrial Building in Slinger, Wisconsin

by Kristin Harlow

SLINGER, WIS. — The Dickman Co. Inc./CORFAC International has arranged the sale of a 53,000-square-foot industrial building in Slinger, about 35 miles northwest of Milwaukee. The sales price was not disclosed. The property is located at 3767 Scenic Road. Scenic Cedar Creek LLC purchased the asset from the sellers, Robert and Ann Schoenke. Nick Keys, Samuel M. Dickman Jr. and Samuel D. Dickman of the Dickman Co. brokered the transaction.

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CaliforniaRetailWestern

Balboa Partners Buys Two Grocery-Anchored Centers in Southern California

by Nellie Day

SANTA MONICA AND CARLSBAD, CALIF. — Balboa Retail Partners has acquired two grocery-anchored retail centers in Southern California — Lincoln Center in Santa Monica and Carlsbad Village in Carlsbad. Tom Lagos and Michael Asarch of Colliers International arranged the transaction. Other terms of the deal were not disclosed. Lincoln Center totals 57,630 square feet and is anchored by a Gelsons Market. Smart & Final anchors the 59,010-square-foot Carlsbad Village. Both properties were fully occupied with long-term leases at the time of sale.

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