By Mallory Bulman
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.
Location: Jackson, Miss.
Market Rent: $685
Building Size: 123,080 SF
Unit Size: 855 SF
Features: Located in Northeast submarket of Jackson, Miss.; market rents are $170 less per unit than competitors; value-add opportunity once minimal interior, clubhouse and amenities are complete.
Contact: Blake Pera, ARA Newmark, 901-260-1156
Location: Phoenix, Ariz.
Parcel Size: 1.21 acres
Features: Walking distance from 7th Street Corridor and Restaurant Row; located less than mile from Uptown Plaza, Town & Country and nearest light rail station.
Contact: Patrick Burch, ABI Multifamily, 602-344-9197
Location: Nashville, Tenn.
Price: TBD by market, all cash
Land Size: 16 acres
Net Rentable SF: 361, 614 SF
Features: Built in 1966; 92.5 percent occupancy as of January 2017; individually metered for electricity; 20 residential buildings and one clubhouse/leasing office; 650 parking spaces; located in Davidson County School District.
Contact: Scott Tyrone, ARA Newmark, 615-345-0215
Location: Los Angeles, Calif.
Price: $12.2 million
Total Lot Size: 31,497.8 SF
Parking: 25 spaces
Features: First time on market in 40 years; value-add opportunity; low cost per unit; located at southeast corner or Orchid and Franklin avenues, just west of Highland and north of Hollywood and Highland retail center; recent upgrades include a new roof, low-flow toilets, security cameras and upgrades to solar panels; unit mix consists of 52 efficiency units, 16 studios and four one-bedroom apartments.
Contact: Brent Sprenkle, Berkadia, 310-470-4892
Location: Ithaca, N.Y.
Price: $1.6 million
Building Size: 23,360 SF
Features: Recently renovated; located steps from Cornell University and central college town; upgrades include new windows, a high-efficiency boiler, coin operated laundry and more; fully leased for next year.
Contact: Warren Real Estate, 607-257-0666
Images courtesy of respective brokerage firms.