On the Market: 5 Interesting Listings for the Week of 5/1

This week's listings include a Katy, Texas, property situated on 13 acres and a modern luxury condo development with full entitlements in Scottsdale, Ariz.

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.

katyStation at Mason Creek

Location: Katy, Texas

Units: 291

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

university placeUniversity Place

Location: Columbia, Mo.

Units: 168

Beds: 351

Acreage: 1.9

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

berkeleyBerkeley Place

Location: Charlotte, N.C.

Units: 368

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 st70th Street Lofts

Location: Scottsdale, Ariz.

Units: 15

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


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The Landings at Coconut Creek

Location: Coconut Creek, Fla.

Units: 268

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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