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DC property sells for $49M; Bushwick, NY, asset fetches $47M


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DC property sells for $49M; Bushwick, NY, asset fetches $47M

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

* Carr Properties sold a 116,000-square-foot office building at 1025 Vermont Ave. NW in Washington, D.C., to Akridge and Stars for $48.5 million, the Washington Business Journal reported, citing the D.C. Recorder of Deeds.

* Art storage company Uovo bought a two-story, 150,000-square-foot warehouse at 105 Evergreen Ave. in Bushwick, N.Y., for $47 million, The Real Deal reported.

* IMC Equity Group bought the 250,000-square-foot, 92%-leased Peppertree Plaza in Margate, Fla., from an affiliate of Woolbright Development for $45.5 million, The Real Deal reported.

* Strategic Realty Trust Inc. sold a retail property in Florissant, Mo., for approximately $16.6 million.

* True North Commercial REIT closed on its sale of two industrial properties at 63 Innovation Drive and 1035 Industrial Road in Ontario for about C$15.4 million, with the proceeds to be used to potentially acquire a 107,000-square-foot office property in the central business district in Ottawa.

* Consolidated-Tomoka Land Co. sold 19.78 acres of land in an undisclosed opportunity zone for about $2.4 million to VanTrust Real Estate LLC.

* A Lennar Corp. unit announced the opening of the 226-unit Axle smart-home apartment community at 3230 16th Ave. W. in the Interbay neighborhood of Seattle.

* St. Joe Co. plans to develop an 800-unit residential community on 592 acres in the Bay County, Fla., to cater to the increasing demand for workforce housing. The first phase of the development with 41 home sites is expected to begin in 2019.

* A Reven Housing REIT Inc. unit paid about $7.1 million to acquire 89 single-family homes in Oklahoma City from TB Rentals LLC.

Additional news

Lamar Advertising pays $419M for Fairway Outdoor billboard operations

Essex Property nets $285.3M from 3-property sale in California

Alexander & Baldwin sells Hawaii farmland for $262M

Jones Lang unit to sell San Francisco property for $227M

W. P. Carey invests $119M in industrial properties