On the Market: This Week’s 5 Most Interesting CRE Listings
Check out this week's most interesting CRE listings across the country.
On the Market is a new 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.
Camden Renaissance
Location: Altamonte Springs, Fla.
Current Net. Eff. Rent: $956
Units: 578
Features: Close proximity to Maitland Center, Seminole State College and Lake Lotus Park; assets in area achieving rents as much as $600 more than property; healthy rent and job growth in area; community amenities including a fitness center, yoga room, racquetball court, swimming pools and dog park; unit amenities including nine to 10-foot ceilings, crown molding, full-size washer/dryers, walk-in closets, patios/balconies, and select units with lake views.
Contact: Greg Engler, Walker & Dunlop, 404-832-7613
5227 North 7th Street
Location: Phoenix, Ariz.
Price/SF: $85.50
Year Built: 1980
Features: Adaptive reuse opportunity; located in Restaurant Row corridor with close proximity to entertainment and employment in downtown Phoenix; approximately 99 feet of frontage on 7th Street; located near major transportation hubs; significant barriers to new construction in area.
Contact: Patrick Burch, ABI Multifamily, 602-344-9197
Royal Greens Apartments
Location: Gresham, Ore.
Units: 90
Avg. Unit Size: 957 square feet
Year Completed: 1970
No. of Buildings: 8
Achieved Apartment Rent: $987
Occupancy: 96.7%
Features: Location in fourth most populous city in Oregon; transit-oriented location in proximity to the MAX station, Blue light rail line, bus and Portland International Airport; community amenities including a pool, golf course, dog walking areas, laundry facility and parking; unit amenities including a balcony or patio, private green space, in-unit washer/dryer, walk-in closets and extra storage outside.
Contact: Ira Virden, HFF LP, 503-417-5587
Tenside Apartment Homes
Location: Atlanta, Ga.
Units: 336
Avg. Square Feet: 898
Year Completed: 2008
Features: Location in west Midtown submarket; proximity to entertainment, nightlife and educational institutions like Georgia Tech; transportation options include the Norfolk Southern rail line and Northside Drive.
Contact: Greg Engler, Walker & Dunlop, 404-832-7613
The Spectrum
Location: Richmond, Va.
Units: 103
Year Completed: 2015
Property Acreage: 2.19
Features: Zero property taxes on building improvements due to 10-year tax abatement; property currently charges rents of $1.5 per square foot or more; community amenities including a fitness center, data center and community room; unit amenities include washers and dryers, hardwood floors and stainless steel appliances.
Contact: Will Matthews, Colliers International, 404-877-9285
