On the Market: 5 Interesting CRE Listings for the Week of 6/27
This week's listings include a newly constructed community in Oklahoma City and an under-construction property in an Austin suburb.
On the Market is a new department curating the week’s most interesting for-sale CRE assets. If you have a commercial real estate asset that you’d like to share with our readers, please email it to Mallory Bulman, Associate Editor.
Hainesway Apartments
Location:Â Rapid City, S.D.
Offering Price: $12 million
Price/Unit:Â $49,180.33
Units:Â 244
Year Built: 1974
Features:Â Centrally located south of Interstate 90; value-add opportunity; unit mix consists of one-, two- and three-bedroom apartments; property sits on 11.2 acres; 68 garage stalls and 401 parking spots.
Contact: Sandra Runde, Keller Williams Realty Black Hills, 605-343-7500
Silver Lake
Location:Â Fresno, Calif.
Offering Price: $17.5 million
Price/Unit:Â $69,444.44
Units:Â 252
Year Built: 1985
Features:Â Situated on 17.33 acres; major renovations completed since 2003, with current ownership executing $630,000 in capital improvements since 2013; recent upgrades include fresh exterior paint, an updated leasing office and business center, new irrigation, a resurfaced pool with new tile and updates to the fitness room and resident lounge; unit mix of 100 percent two- and three-bedroom apartments; located close to Fresno Yosemite International Airport, Fresno Pacific University, and downtown Fresno.
Contact: Robin Kane, Berkadia Real Estate Advisors, 559-761-0020
Cornerbrook Cottages
Location:Â Round Rock, Texas
Offering Price: $35.1 million
Price/Unit:Â $123,453.28
Units:Â 285
Year Built:Â 2017 (under construction)
Features:Â Class A community; located in Austin suburb of Round Rock, rated first on Livability.com‘s list of 10 Best Affordable Places to Live 2015; major area employers include Dell, Apple, eBay and Google.
Contact: George Kaleh, Cornerbrook Development Co., 713-806-0562
Racquet Club Apartments
Location:Â Lancaster, Calif.
Building Size:Â 181,520 SF
Occupancy:Â 99 percent
Units:Â 200
Year Built:Â 1974
Features:Â Directly adjacent to Antelope Valley Hospital, one of the area’s largest employers, and SR-14, a primary transportation hub; select units offer washers and dryers; approximately $200 premium currently achieved on recent leases.
Contact:Â Javier Rivera, JLL Southern California Multifamily Group, 213-239-6213
Cross Timber Apartments
Location:Â Oklahoma City, Okla.
Offering Price: $17.2 million
Price/Unit:Â $115,133.33
Units:Â 150
Year Built:Â 2015
Features:Â Newly constructed community; located within South Oklahoma City and Moore School District; area is home to high-end commercial and residential developments, office and medical facilities.
Contact:Â Mike Buhl, Commercial Realty Resources Company, 405-360-5966
