On the Market is a 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.
Location: Boca Raton, Fla.
Occupancy: 62 percent
Year Built: 2017
Highlights: Property features a mix of 336 mid-rise homes averaging 1,093 SF with an average market rent of $2,171 and 34 three-bedroom townhomes with two-car garages averaging 1,736 SF with average market rents of $3,857; the property is 69 percent leased; expected to stabilize by January 2018; unit features include quartz countertops, stainless steel appliances, wood plank flooring, keyless entry and nine-foot ceilings; community amenities include an 11,000-square-foot clubhouse, 24-hour fitness center, beach-entry pool, outdoor cabanas, a lounge, grill stations, a pet spa and a dog park.
Contact: Robert Given, Cushman & Wakefield, 561-213-5297
Glen at Plantation Estates
Location: Olive Branch, Miss.
Price: $3.5 million
Avg. Rent: $1,197
Year Built: 2007
Highlights: Offering consists of 64 pad sites, of which 34 have been developed into condominiums; 27 condos are finished while the remaining 30 are pad sites; average unit size of 1,484 SF; located within DeSoto County School District, the largest and fastest-growing in the state; located within short commuting distances to employment areas the Downtown Memphis, the Medical Corridor and the Memphis Airport Aerotropolis Corridor.
Contact: Gray Fiser, ARA Newmark, 901-260-1154
Tempe North Apartments
Location: Tempe, Ariz.
Price: $7 million
Highlights: Built in 1987 but renovated from 2015 to 2017; unit mix of seven percent three- and 93 percent two-bedroom apartments; units are individually metered for electricity and have individual hot water heaters; recently renovated exterior and selective upgrades on interior common areas leave opportunity to add value through additional interior renovations; full-size washers and dryers in four units with potential for six total; community amenities include renovated pool area, laundry room, bike racks, covered parking, common area WiFi, gated access and a new dog park; located near Arizona State University and transit options including the light rail and a bus line.
Contact: Doug Lazovick, ABI Multifamily, 602-714-1388
75 Braintree Street
Location: Allston, Mass.
Building Size: 93,000 SF
Highlights: Located in Boston Landing neighborhood; mix of studio, one-, two-, and three-bedroom units; located within less than a five-minute walk from the new Boston Landing Commuter Rail Station; local amenities include Stop & Shop, Lulu’s Allston, Tavern in the Square, Deep Ellum, Lone Star Taco Bar and more; property has a 91 Walk Score out of 100; community amenities include common roof deck; enclosed vehicle and bike parking, on-site ZipCar, a dog spa, a community room with WiFi and a catering kitchen and on-site fitness center.
Contact: Chris Sower, Colliers International, 617-330-8141
1205 New York Ave.
Location: Brooklyn, N.Y.
Price: $2.4 million
Building Size: 6,500 SF
Highlights: Built in 2009; all two-bedroom units; two parking spots; eight storage rooms; currently 100 percent occupied; unit features include an HVAC system, granite countertops and a jacuzzi tub; located in Flatbush neighborhood of Brooklyn on the Northeast corner of New York Avenue and Clarendon Road.
Contact: Andrey Yanoff, City Express Realty, 718-615-0200
All images and information are courtesy of respective brokers or brokerage firms.