On the Market: 5 Interesting CRE for the Week of 8/29

2 min read

This week's listings include trendy lofts in Phoenix and a state-of-the-art student housing community near Middle Tennessee State University.

On the Market is a weekly department curating the most interesting recent 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.

Lofts-on-Thomas-1Lofts on Thomas

Location: Phoenix, Ariz.

Offering Price: $2.9 million

Price/Unit: $187,188

Price/SF: $191.74

Units: 55

Features: Convenient location in Central Phoenix; located adjacent to St. Joseph Hospital and in close proximity to shopping, dining and employers in Downtown Phoenix; community amenities include a media lounge with internet access, a community room with a fireplace, flat screen television and coffee bar, a yoga and meditation studio, a 24-hour fitness center, and a pool; units feature open floor plans, tile, contemporary kitchens and walk-in closets.

Contact: Alon Shnitzer, ABI Multifamily, 602-714-1283

verdugoVerdugo Village

Location: Glendale, Calif.

Built: 1965

Units: 126

Features: Located in Los Angeles County; rental upside potential; unit mix of one-, two-, and three- and four-bedroom units; located minutes from Warner Bros., Nestle, Disney and more; mountain views in a luxury condo setting.

Contact: Shane Shafer, Berkadia, 949-223-0876

highfieldHighfield Commons

Location: Rochester, N.H.

Offering Price: $23.1 million

Price/Unit: $240,653.13

Units: 96

Features: Newly-constructed community; unit mix consists of 84 three-bedroom townhomes and 12 two-bedroom garden-style apartments; all units have two to two and a half bathrooms; each units has an attached garage with room for tandem parking in the driveway.

Contact: Thomas J. Fini, Fini Real Estate Group, 603-647-6800

student housingEast Main Quarters Apartments

Location: Murfreesboro, Tenn.

Offering Price: $24 million

Price/Unit: $380,952.38

Units: 63

Beds: 252

Features: Newly-built, Class A student housing community; located in close proximity to Middle Tennessee State University; property consists of six three-story residential buildings and a clubhouse; unit amenities include a wet bar, built-in beverage center, mini fridge, granite countertops, a built-in desk, a private full-size bath and independent climate control.

Contact: Dwight O’Neal, Marcus & Millichap, 615-390-2727

cedarsThe Cedars

Location: Albuquerque, N.M.

Offering Price: $11 million

Price/Unit: $78,571.43

Units: 140

Features: Located in close proximity to Downtown and Uptown in Class A infill location; nine available floor plans and choice of one- or two-story townhome units; assumable Fannie Mae financing at 67 percent LTV; property include 1.4 acres for future development; upside potential for increasing rents 13 percent to submarket average; amenities include two swimming pools, an updated clubhouse, a fitness center, two laundry facilities and a dog park.

Contact: Todd Clarke, NM Apartment Advisors, 505-440-8633


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