On the Market: 5 Interesting Listings for the Week of 3/20

This week's listings feature a charming triplex near the beach in Santa Monica and a Tampa property located in close proximity to the University of South Florida.

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 Associate Editor Mallory Bulman.

70th Street Lofts

Location: Scottsdale, Ariz.

Price: $1.8 million

Building Size: 19,105 SF

Units: 15

Features: Luxury condo development with full entitlements; designed for net-zero electric energy costs; located in downtown/Old Scottsdale submarket; located within walking distance from Old Town, Scottsdale Spring Training and Civic Center Plaza; located a short trolley ride from Scottsdale Fashion Square and Scottsdale entertainment district.

Contact: Patrick Burch, ABI Multifamily, 602-344-9197

Indigo Park

Location: Baton Rouge, La.

Price: $10.7 million

Average Market Rent: $1,306

Rentable SF: 381,712 SF

Units: 330

Features: Built in 2008; average unit square footage of 1,157; 95 percent occupancy; 20-acre property; located in East Baton Rouge Parish in one of the area’s most affluent communities; local apartment market has little Class-A competition, and no new units are set to deliver within a five-mile radius until 2020; location offers convenient access to retail and employment hubs, L’Auberge Casino & Hotel and Louisiana State University.

Contact: Mike Kemether, Cushman & Wakefield, 404-853-5269

Cordova Apartment Homes

Location: Tampa, Fla.

Rentable SF: 479,020

Land Size: 19.44 acres

Units: 536

Features: Recent capital improvements totaling $4.1 million include a new fitness center and maintenance shop; unit mix consists of one-, two-, and three-bedroom units ranging in size from 546 to 1,293 square feet; located on the University of South Florida’s “USF Bull Runner” transportation system providing easy access to campus; located close to medical facilities like the H. Lee Cancer Center, Florida Hospital Tampa and the James Haley Veterans’ Hospital.

Contact: Jamie B. May, JBM Institutional Multifamily Advisors, 813-812-5000

Aire Libre Apartments

Location: Phoenix, Ariz.

Price: $5.5 million

Price/Unit: $69,750

Price/SF: $99.82

Units: 80

Features: Unit mix consists of 75 percent two-bedroom units; individually metered units for electricity; individual HVACs; well-maintained turn-key property; located in North Phoenix near 51 and 101 Freeways.

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

Santa Monica Triplex

Location: Santa Monica, Calif.

Price: $3 million

Price/Unit: $1 million

Building Size: 3,505 SF

Units: 3

Features: Historic triplex; delivered vacant; located one block from Main Street and two blocks from the beach; 6,505 SF lot size.

Contact: Ian Brooks, Berkshire Hathaway Home Services, 310-428-6569


All images courtesy of brokers listed.

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