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Orlando, Fla., office assets sell for $92M; Scottsdale, Ariz., land fetches $83M


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Orlando, Fla., office assets sell for $92M; Scottsdale, Ariz., land fetches $83M

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

* Starwood Capital Group purchased the three-building, 91.2%-leased, 414,000-square-foot office portfolio comprising the Millennia Lakes I, II and III buildings at 4700, 5323 and 5337 Millenia Lakes Blvd. in Orlando, Fla., from Barings Real Estate Advisers LLC for about $92.2 million, the Commercial Property Executive reported, citing property records.

* Nationwide Mutual Insurance Co. paid $83 million for 134 acres of state trust land in Scottsdale, Ariz., to build its regional headquarters, along with two hotels and office and other commercial space, the Phoenix Business Journal reported.

* Stoltz Real Estate Partners acquired the 12-story Public Square Garage in Nashville, Tenn., with about 1,070 parking spaces and 37,000 square feet of retail space for $54 million, the Philadelphia Business Journal reported, citing public records.

* Arden Group paid about $44.9 million to High Street Realty Co. for a 12-building, 80%-occupied industrial portfolio totaling 607,890 square feet in Langhorne and Trevose, Pa., the Philadelphia Business Journal reported.

* An affiliate of Athene Asset Management LP purchased the 115,095-square-foot, 13-acre Walnut Creek shopping center at 3841 S. Hamilton Rd. in Groveport, Ohio, for about $23.6 million, Columbus Business First reported, citing Franklin County records.

* PREP Property Group Inc. bought the 654,666-square-foot Shadow Lake Towne Center on 72nd St. in the Omaha suburb of Papillion, Neb., for an undisclosed amount.

* Facebook Inc. is reportedly leasing the entire 17-story, almost 320,000-square-foot Domain 12 building in Austin, Texas, being developed by TIER REIT Inc., the Austin Business Journal reported, citing several sources.

Additional coverage

Brookfield Property completes $165M project acquisition in the Bronx, NY

Slate Office REIT closes US$156M purchase of Chicago building

Report: Hilco JV, Bridge Investment negotiate $113M deal for Chicago landmark

Report: Crown Equity to pay $100M for Beverly Hills, Calif., retail asset

Singapore's Ascendas-Singbridge enters US with 33-asset office portfolio buy