On the Market: 5 Interesting CRE Listings for the Week of 9/5
This week's listings include an historic schoolhouse converted into luxury lofts and a unique yellow building in Miami-Dade County.
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.
The Heights at Bear Creek
Location:Â Redmond, Wash.
Net Rentable SF:Â 247,550
Average Unit Size:Â 1,091 SF
Units:Â 227
Built: 1993
Features: Unit amenities include nine-foot ceilings, open kitchens, large corner units; value-add opportunity to upgrade 100 percent of units and amenities; property offers access to employment at Microsoft World HQ, shopping and recreation at the 640-acre Marymoor Park; average resident household income of $104,000; submarket of Redmond, Wash. grew 7.8 percent from March 2015 to March 2016; 7.5 percent rent growth during past 12 months; offered free and clear of debt.
Contact:Â Jeff Williams, Moran & Company, 206-435-7801
Parkside Apartments
Location: Tempe, Ariz.
Average Unit Size: 683 SF
Units: 100
Year Built: 1962
Features:Â Community amenities include large courtyards, a swimming pool, clubhouse, barbecue grills, coffee bar, fitness center and onsite laundry facility; unit amenities include front and rear entries, assigned covered parking, oversized kitchens and bathrooms, ceiling fans, included refrigerators and dishwashers, high-speed internet access and cable hookups; located in close proximity to major freeways, Arizona State University, Tempe Town Lake and shopping/entertainment destination Mill Avenue.
Contact: David Fogler, Cushman & Wakefield, 602-224-4443
Pierce School Lofts
Location:Â Washington, DC
Price: $7.2 million
Price/Unit: $725,000
Units: 10
Year Built: 1894
Features: Former schoolhouse turned into lofts; community amenities include a heated pool, fitness room, grill and bar area, outdoor fireplace and spa; located on H Street Corridor, an area under construction to add more residential units, a DC Metro Street Car and retailers.
Contact: David Fogler, Cushman & Wakefield, 602-224-4443
The Oaks
Location:Â Bay Harbor Islands, Fla.
Price: $6.3Â million
Price/Unit: $286,363.64
Units:Â 22
Year Built:Â 1966
Features:Â Located in Miami-Dade County; unit mix consists of eight one-bed/one-and-a-half-bath and 13 two-bed/one-and-a-half-bath units; community amenities include central air conditioning, a pool, onsite parking and laundry, storage units for each unit and elevator service; located near South Beach, the Bal Harbour shops, Downtown Miami and 20 minutes driving distance from Miami International Airport.
Contact:Â Deme Mekras, MSP Group, 786-671-0152
Springdale Apartments
Location:Â Ayden, N.C.
Price: $1.6 million
Price/Unit: $50,781.25
Units:Â 32
Building Size: 24,672 SF
Built: 2004
Features:Â Community is comprised of three apartment buildings and four duplexes; located eight miles south of Greenville, N.C., the tenth largest city in the state; operating at 100 percent occupancy; located close to retail including Walgreens and Food Lion.
Contact:Â Greenspon Listings (for Marcus & Millichap), 919-808-2801
