On the Market: 5 Interesting Listings for the Week of 5/1
- May 05, 2017
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.
Station at Mason Creek
Location: Katy, Texas
Avg. Rent: $$1,071
Rentable SF: 224,584
Avg. Unit Size: 772 SF
Features: Value-add potential upon implementation of upgrade program; effective rents increased 9.6 percent since January 2014; located walking distance from employers including Academy Sports + Outdoors Corporate Office, GEICO, Houston Methodist West Hospital and Texas Children’s Hospital; current 94 percent occupancy; built in 2001; property located on 13 acres.
Contact: David Mitchell, ARA Newmark, 713-425-5421
Location: Columbia, Mo.
Total SF: 143,640
Avg. Unit Size: 855 SF
Features: Student housing community located near the University of Missouri; unit mix consists of 153 two-bedroom and 15 three-bedroom units; commercial space on first floor occupied by university services; community amenities include laundry, a computer center, large patio, controlled access, on-site ATM and 24-hour fitness center; units boast fully equipped kitchens with stoves, refrigerators, garbage disposals, microwaves and dishwashers as well as air conditioning, heating, free cable TV and internet; community also offers fully furnished units, private bedrooms, individual leases and roommate matching services.
Contact: Kevin Larimer, Berkadia, 248-341-3305
Location: Charlotte, N.C.
Rentable SF: 360,198
Avg. Unit Size: 979 SF
Features: Built in 2001; located on 26 acres; institutionally maintained asset; future value-add opportunity; offering price less than replacement cost and recent trades; solid fundamentals within strong employment market.
Contact: Dean Smith, ARA Newmark, 704-926-4430
70th Street Lofts
Location: Scottsdale, Ariz.
Price: $1.9 million
Lot SF: 19,105
Property Acreage: .44
Features: Luxury condo development with full entitlements; designed for net-zero electric energy costs; located in Downtown/Old Town Scottsdale submarket; located within walking distance of Old Town, Scottsdale Spring Training and Civic Center Plaza; located within a trolley ride of Scottsdale Fashion Square and Scottsdale Entertainment District.
Contact: Patrick Burch, ABI Multifamily, 602-344-9197
The Landings at Coconut Creek
Location: Coconut Creek, Fla.
Avg. Rent: $1,396
Avg. Unit Size: 835 SF
Year Built: 1985
Features: Renovated clubhouse, fitness center and communal spaces; current ownership spent $1.6 million on capital improvements; located near entertainment and retail venues; easy accessibility to major area highways.
Contact: Avery Klann, ARA Newmark, 561-210-4138
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