National
Ground Broken on $10M Affordable Housing Project
By Adrian Maties, Associate Editor Cincinnati is growing, with investments being made, thousands of jobs being created, the unemployment rate going down and the population growing. And with confidence in the housing market still low, especially in the suburbs, apartment operators are very, very happy these days. Marcus & Millichap is predicting that apartment vacancy […]
HFF Closes $121.4M Carroll Square Leasehold Sale
By Adrian Maties, Associate Editor Holliday Fenoglio Fowler L.P. it has closed the leasehold sale of downtown Washington, D.C.’s Carroll Square. HFF represented the seller, Seaton Benkowski & Partners. The property was acquired by Munich-based GLL Real Estate Partners for $121.4 million. The German real estate investment advisor has also assumed an existing loan on the […]
Preferred Apartment Communities Gets Behind Coliseum Redevelopment; Lofts at Charleston Row Installs Green Roof
By Eliza Theiss, Associate Editor The redevelopment of the former Coliseum site in West Charlotte just got a jolt from Preferred Apartment Communities Inc. of Maryland—an owner and operator of multifamily properties across the U.S. According to a press release, the company just closed on a mezzanine loan investment to Oxford City Park Development LLC […]
Lender-Owned Mixed-Use Project Trades for $13.2M
Waterford Park at Waterford Lakes—a Class A mixed-use retail and office building located near the nation’s second-largest university, the University of Central Florida—has traded hands for the reported amount of $13.2 million. A small land parcel across the street from the property and a potential billboard site on Lake Underhill Road were also included in the transaction.
Steak n Shake to Acquire Historic Office Building in Downtown Indianapolis
The sale of the historic Ober Building in downtown Indianapolis has been approved by the Metropolitan Development Commission on behalf of the Capital Improvement Board of Marion County. According to the Indianapolis Business Journal, an affiliate of the locally based Steak n Shake restaurant chain will pay $3.8 million to purchase the 62,500-square-foot office building and another $2 million for improvements. Steak n Shake plans to move its headquarters to floors three through six in the six-story Ober Building located at 107 S. Pennsylvania St. The company’s local offices are currently in the Century Building on the opposite corner of Pennsylvania and Maryland streets.
IIT Buys Two Greater Baltimore Industrial Assets for $16.1M
By Adrian Maties, Associate Editor Industrial Income Trust continues its buying spree in the Greater Baltimore area. The Denver-based real estate investment trust paid $16.1 million for two fully leased industrial properties. The transactions occurred simultaneously in the first week of August. TA Realty Associates was the seller. The company was represented by CBRE’s Bo […]
Historic Multifamily Property Becomes Dorm
The National Cotton Council of America’s building at 1918 North Pkwy. has received a new lease on life.
$25M Tampa Bay-Area Self-Storage Portfolio Up for Sale
A three-property, 2,250-unit portfolio owned by Safeguard Self Storage is now on the market, with Marcus & Millichap Real Estate Investment Services in charge of finding a buyer.
Ohio Investor Acquires Broadway Plaza for $12.7 Million
The 83,612-square-foot Broadway Plaza retail complex in Tucson was sold to shopping center REIT Philips Edison-Arc for $12.7 million, according to Marcus & Millichap. The real estate investment services firm represented the Ohio-based buyer in this deal.
“Magic” Johnson Backs Up Michigan State Fairgrounds Mixed-Use Redevelopment
By Veronica Grecu, Associate Editor Basketball star Earvin “Magic” Johnson—a Lansing native now turned entrepreneur—has teamed up with businessmen Joel Ferguson, also of Lansing, and Marvin Beatty of Detroit in one of the most ambitious revitalization projects proposed in Detroit in the past years. The venture plans to acquire the former State Fairgrounds site at […]