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NC office complex changes hands for around $100M; 2 NYC rentals sell for $53M


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NC office complex changes hands for around $100M; 2 NYC rentals sell for $53M

This feature rounds up recent commercial property news and highlights larger deal coverage already published.

* Accesso Partners LLC purchased 10 office buildings in the Meridian Corporate Center, with nearly 700,000 square feet of space, in Durham, N.C., at an estimated price of over $100 million, The (Raleigh, N.C.) News & Observer reported, adding that nine of the buildings were sold by a New York City-based institutional investor.

* Sentinel Real Estate sold two six-story rental buildings, totaling 125 apartments and about 145,500 square feet, at 921 and 941 Washington Ave. in Crown Heights in New York City for $53.3 million to GRJ Real Estate, The Real Deal reported, citing city records.

* A joint venture between Gerry Ranglas/RV Management, Wermers Properties and Loma Linda University Endowment acquired the 336-unit Tuscany Ridge apartment complex in Peoria, Ariz., for $54 million from a New York-based pension fund adviser, the Phoenix Business Journal reported.

* Crown Acquisitions Inc. bought the 240-unit College Square property on 6.6 acres at 801 J St. in Davis, Calif., near the University of California, Davis, from Green Leaf College Square LLC for $50.3 million, according to property records, the Sacramento Business Journal reported.

* Anschutz Entertainment Group purchased a 3.9-acre development site, part of the $1 billion Nashville Yards development, for $44 million, with plans to build an entertainment district, the Nashville Business Journal reported, citing public records.

* Beacon Capital Partners LLC paid $43 million to LBA Realty LLC for a three-building, 228,500-square-foot office complex built on 10 acres, at 5220-5245 Pacific Concourse Dr. in Del Aire, Calif., The Real Deal reported.

* Graham & Co. Inc. sold the six-building, 260,272-square-foot, over 88%-leased Interstate South Commerce Center class-A industrial property, at 9440-9456 Philips Highway in Jacksonville, Fla., to Kissimmee Land Co. LLC for $25.3 million, the Jacksonville Business Journal reported.

* Google Inc. acquired a 5-acre parcel at 1050 and 1060 Innovation Way in Moffett Park in Sunnyvale, Calif., for $21 million, the Silicon Valley Business Journal reported.

* Lennar Corp. purchased 232 home sites at the Asante residential development at Grand Avenue near Loop 303 in West Valley in Phoenix for $17.6 million from HE Capital Phase 1 Property LLC, the Phoenix Business Journal reported.

* Strategic Realty Trust Inc. terminated the $16.4 million sale of Florissant Marketplace that it agreed to in January.

Additional coverage

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