National
DeBartolo Gets Nice Price for Downtown Asset
The Gallery at Mills Park, a 310-unit Class AA multifamily infill asset located in Downtown Orlando changed hands recently, JLL Capital Markets announced. An institutional investor of undisclosed identity purchased the property for $66.5 million. The sales price translates to approximately $215,000 per unit.
New Dual-Branded Hotel Acquired by Carey Watermark Investors
The newly built Hilton Garden Inn and Homewood Suites in Midtown Atlanta was picked up recently by Carey Watermark Investors Inc., as announced by the buyer. The publicly registered REIT’s portfolio of lodging and lodging-related assets is managed by affiliates of W. P. Carey Inc. and Watermark Capital Partners. The select-service and extended-stay property includes a total of 228 guestrooms; the acquisition price was not disclosed.
Tucson Electric Power Seeking Contractor for Energy Storage Facility
Tucson Electric Power issued a request for proposals in which it seeks a developer to design and construct a utility-scale energy storage system. The RFP was issued on Friday, April 24 and stipulates that the 10 megawatt facility should be operational by the end of 2016. The future project partner would build and own the asset under a 10-year agreement – TEP provides the site for the project.
Integra Closes on Former Bank Atlantic HQ
The former Bank Atlantic headquarters has changed hands in the largest single-tenant vacant building sale in the Cypress Creek submarket in the last five years.
Concourse Corporate Center Picked Up by Stamford-Based Investor
The landmark Concourse Corporate Center was recently acquired by Building and Land Technology, the Stamford, Connecticut-based company announced. The property is located at Interstate 285 and Georgia State Route 400 in Atlanta’s Perimeter submarket, in close proximity to several MARTA stations.
Wood Partners Starts 12th Central Florida Project
Alta Eastmar Commons, a 312-unit multifamily community is underway, the developer, Wood Partners announced recently. The $41.9 million development breaks ground in late April at 159 Dean Road, Orlando. To date, the developer has built around 3,000 units in the area since 2001 and this will be the 12th Wood Partners apartment community in Central Florida.
New KB Home Community Selling in Tucson at Prices from $192,000-$243,000
A new neighborhood in southeast Tucson, La Cima Esplendora has launched sales recently, as announced by KB Homes.
Foreign Investor Purchases Portfolio of Nine Warehouses in $2.2M Deal
Doral 58th Street Warehouses, a portfolio comprised of nine warehouse properties was sold recently, as announced by Douglas Elliman. The $2.2 million transaction was negotiated by Douglas Elliman Commercial Division Associate while CCIM Miami District Director Mitash Kripalani represented the seller, 58 Street Warehouses LLC. A foreign investor acquired the complex; however, the buyer’s identity was not disclosed.
Royal Oak Launches Phase 2 Home Sales in Groveland
The second phase in Eagle Point, a luxury community planned in Groveland, FL, has started selling recently. The developer, Royal Oak Homes is a family-owned home builder, the successor of Cambridge Homes which has built more than 14,000 homes in Central Florida over the past 30 years. Founded in 2011, the Royal Oak Homes arm is now one of the most active home builders in the Orlando area, building in 17 active communities in the region.
Investor Acquires Triple-Net Leased Gas Station for $4.21M
Capizzi Family Trust, an investment firm from Downey, California, recently picked up the Circle K store and gas station at 3301 S 6th Avenue in Tucson for $4.21 million or $956 per square foot as a triple net investment. Tatyana Meulemans with Newmark Grubb Knight Frank in Phoenix represented the seller, the Deconcini Family Trust of Tucson.