{"id":1004089840,"date":"2014-01-15T13:04:03","date_gmt":"2014-01-15T21:04:03","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=230403"},"modified":"2020-04-30T11:06:50","modified_gmt":"2020-04-30T19:06:50","slug":"grubb-properties-acquires-beckanna-on-glenwood-multi-family-community-in-raleigh-2","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/grubb-properties-acquires-beckanna-on-glenwood-multi-family-community-in-raleigh-2\/","title":{"rendered":"Grubb Properties Acquires Beckanna on Glenwood Multi-Family Community in Raleigh"},"content":{"rendered":"<p><!--[if gte mso 9]><xml><br \/>\n<o:OfficeDocumentSettings><br \/>\n<o:AllowPNG\/><br \/>\n<\/o:OfficeDocumentSettings><br \/>\n<\/xml><![endif]--><\/p>\n<p><!--[if gte mso 9]><xml><br \/>\n<w:WordDocument><br \/>\n<w:View>Normal<\/w:View><br \/>\n<w:Zoom>0<\/w:Zoom><br \/>\n<w:TrackMoves\/><br \/>\n<w:TrackFormatting\/><br \/>\n<w:HyphenationZone>21<\/w:HyphenationZone><br 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5.4pt;\n\tmso-para-margin-top:0cm;\n\tmso-para-margin-right:0cm;\n\tmso-para-margin-bottom:10.0pt;\n\tmso-para-margin-left:0cm;\n\tline-height:115%;\n\tmso-pagination:widow-orphan;\n\tfont-size:11.0pt;\n\tfont-family:\"Calibri\",\"sans-serif\";\n\tmso-ascii-font-family:Calibri;\n\tmso-ascii-theme-font:minor-latin;\n\tmso-hansi-font-family:Calibri;\n\tmso-hansi-theme-font:minor-latin;\n\tmso-fareast-language:EN-US;}\n<\/style>\n\n\n\n\n<p><![endif]--><\/p>\n<p class=\"MsoNormal\"><em style=\"mso-bidi-font-style: normal;\"><span lang=\"EN-US\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/01\/Beckanna-on-Glenwood-apartment-complex-in-Raleigh.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-230405\" title=\"Beckanna on Glenwood apartment complex in Raleigh\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/01\/Beckanna-on-Glenwood-apartment-complex-in-Raleigh.jpg\" alt=\"\" width=\"300\" height=\"199\" \/><\/a>by Adriana Pop, Associate Editor <\/span><\/em><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">An affiliate of Grubb Properties of Charlotte has recently purchased the 254-unit Beckanna on Glenwood apartment complex in Raleigh. According to the <em style=\"mso-bidi-font-style: normal;\"><a href=\"https:\/\/www.bizjournals.com\/\" target=\"_blank\" rel=\"nofollow\" triangle\/news\/2013\/12\/30\/new-name-amenities-coming-for.html\" >Triangle Business Journal<\/a><\/em>, an affiliate of Trade Street Residential of Aventura, Fla. sold the 1960s-era property at 3939 Glenwood Avenue for $8.8 million, or $34,646 per unit. <\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">In 2011, Trade Street acquired the Beckanna community from Bell Partners of Greensboro for $9.35 million. <span style=\"mso-spacerun: yes;\">\u00a0<\/span><\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">Grubb plans to change the name of the three-building complex to Sterling Glenwood and bring significant improvements to the property\u2019s amenities, including the pool, fitness center, clubhouse area and courtyard area.<\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">\u201cThis is a property we hope to own for a very long time,\u201d Grubb executive Todd Williams told the newspaper.<\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">Other residential assets Grubb Properties owns and manages in the Triangle include the Glen Lennox community in Chapel Hill, as well as the Sterling Forest Apartments and Sterling Town Center Apartments, both of which are located in Raleigh.<\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">The company is also planning a spring construction start for The Link at Glenwood South, a 204-unit Link-branded apartment community in downtown Raleigh.<\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">In other news, Wexford Science &amp; Technology, which is part of the San Diego-based real estate investment trust BioMed Realty, has acquired the 360,000-square-foot Chesterfield Building at 701 W. Main St. in downtown Durham for $7.5 million.<span style=\"mso-spacerun: yes;\">\u00a0 <\/span><span style=\"mso-spacerun: yes;\">\u00a0<\/span><span style=\"mso-spacerun: yes;\">\u00a0<\/span><span style=\"mso-spacerun: yes;\">\u00a0<\/span><\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">Once part of the Liggett &amp; Myers Tobacco Company complex, the seven-story structure is one of the last remaining historic warehouses available for redevelopment in this part of the city.<\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">With its latest acquisition, BioMed\u2019s portfolio in North Carolina has grown to more than 1.2 million square feet of space. Other properties the company owns in the Triangle include the Patriot Science Center in Durham, the 3500 Paramount Parkway building in Morrisville and the 3000 Weston Parkway building in Cary.<\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">&#8220;As a developer of research-based communities for prominent research universities and their health systems around the country, we consider the Durham market, and the Chesterfield Building, an ideal location to continue Wexford Science &amp; Technology&#8217;s expansion,&#8221; Daniel C. Cramer, Wexford Science &amp; Technology\u2019s senior vice president of development, said in a news release.<span style=\"mso-spacerun: yes;\">\u00a0 <\/span><\/span><\/p>\n<p class=\"MsoNormal\"><em style=\"mso-bidi-font-style: normal;\"><span lang=\"EN-US\">Photo credits: www.beckanna.com<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>An affiliate of Grubb Properties of Charlotte has recently purchased the 254-unit Beckanna on Glenwood apartment complex in Raleigh. According to the Triangle Business Journal, an affiliate of Trade Street Residential of Aventura, Fla. sold the 1960s-era property at 3939 Glenwood Avenue for $8.8 million, or $34,646 per unit.<\/p>\n","protected":false},"author":260,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1604],"tags":[1815],"class_list":["post-1004089840","post","type-post","status-publish","format-standard","hentry","category-latest","category-raleigh-durham","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Grubb Properties Acquires Beckanna on Glenwood Multi-Family Community in Raleigh - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/grubb-properties-acquires-beckanna-on-glenwood-multi-family-community-in-raleigh-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Grubb Properties Acquires Beckanna on Glenwood Multi-Family Community in Raleigh\" \/>\n<meta property=\"og:description\" content=\"An affiliate of Grubb Properties of Charlotte has recently purchased the 254-unit Beckanna on Glenwood apartment complex in Raleigh. 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