On the Market: This Week’s 5 Most Interesting CRE Listings
- Apr 15, 2016
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.
Location: Greensboro, N.C.
Offering Price: TBD by market
Avg. unit size: 1,190 SF
Year Built: 1998
Highlights: Value-add potential for rent increases; proximity to employment centers in Greensboro and the greater Triad; large units and proximity to schools position property well for family renters; net rental income growth of almost 7 percent in 2015.
Contact: John Munroe, ARA Newmark, 919-913-4764
Location: Lexington, Ky.
Building Size: 147, 984 SF
Occupancy: 96 percent
Year Built: 1978
Highlights: Class B asset; history of stable cash flow with opportunity for added value; community amenities include a duck pond, swimming pool and smaller kid’s pool, tennis and volleyball courts and a dog park.
Contact: Ken Silvestri, Silvestri Real Estate, 859-263-2300
Location: Austin, Texas
Year Built: 2009
Land Size: 38.62 acres
Avg. Unit Size: 1,032 SF
Highlights: Located in hill country with canyon views; affordable rents compared to nearby million-dollar luxury and executive homes; recently renovated clubhouse, fitness center, business center, lounge and model units; community amenities include a swimming pool and game room.
Contact: Patton Jones, ARA, 512-637-1219
Andover at Winter Park
Location: Winter Park, Fla.
Price: $28 million
Building Size: 384,943 SF
Year Built: 1970
Occupancy: 93 percent
Highlights: Located 15 minutes from downtown Orlando and in close proximity to major highways and the Winter Park SunRail station; furnished apartments and balconies available; community amenities include a swimming pool, dog park, clubhouse, business center, playground and laundry.
Contact: Cyrus Khadivi, Ten-X, 949-639-3569
Location: Los Angeles, Calif.
Price: $11.4 million
Building Size: 21,997 SF
Year Built: 2015
Highlights: Fully leased; located in popular Silicon Beach-adjacent Mar Vista neighborhood; amenities include stainless steel appliances, qortstone countertops, a fitness center, on-site garage parking, and a secured front entry/video surveillance security system.
Contact: Matthew Kanner, Keller Williams Commercial, 323-664-9033