by admin

NEW YORK CITY — New York City-based UrbanAmerica LP, an affiliate of the Utendahl Organization, has acquired a 3.1 million-square-foot portfolio for $485 million. The portfolio comprises 13 office buildings and one distribution center. The properties include: 4820 University Square in Huntsville, Ala.; 1325 J St. in Sacramento, Calif.; 8808 and 8810 Rio San Diego Dr. in San Diego; 16401 E. Centre Tech Pkwy. in Aurora, Colo.; 755 Parfet St. in Lakewood, Colo.; 901 N. Fifth St. in Kansas City, Kan.; 696 Virginia Rd. in Concord, Mass.; 1900 River Rd. in Burlington, N.J.; 1600 Callowhill St. in Philadelphia; 380 Westminster St. in Providence, R.I.; 1433 West Loop South in Houston; 150 Corporate Blvd. in Norfolk, Va.; 116 Lakeview Pkwy. in Suffolk, Va.; and 999 East Street Pkwy. in Washington, D.C. The portfolio is 93 percent leased to Government Services Administration tenants, and is 98.2 percent leased in total. It marks UrbanAmerica’s largest one-time acquisition to date. The purchase was made on behalf of the company’s UrbanAmerica LP Fund II. CB Richard Ellis will continue to provide property management and leasing services for the portfolio. Tom Robinson of the Atlanta office of North Star Realty represented UrbanAmerica in the transaction. The seller was not disclosed.

You may also like