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Displaying results 97-120 of 3578
Cushman & Wakefield is proud to offer the opportunity to acquire PNC Center at Cascade Plaza located in the heart of Downtown Akron. Constructed in 1969, the 23-story office building is prominently positioned at Cascade Plaza, centrally located along South Main Street. By taking advantage of the momentum in Downtown Akron and pursuing an adaptive reuse plan, the opportunity affords an investor the ability to reposition this iconic property.

1. LOCATION & VISIBILITY
PNC Center at Cascade Plaza is prominently located in the heart of the Akron CBD, which continues to witness private and municipal investment. The property’s strong walkability score and visibility within the CBD are especially attractive for redevelopment possibilities.

2 . ACCESS
The property’s location has nearly instant access to the highway system allowing for convenient access for tenants, residents, and guests.

3 DESIGN
The classic design with window lines on all four sides, providing an abundance of natural light, lends itself well to a variety of uses

4. FLOOR PLANS
The building’s generic floor plan is ideal for an adaptive reuse

5. RECENT UPGRADES
Recent significant upgrades to the HVAC, including new boilers and chillers, and upgrade to LED lighting reduces near-term capital requirement needs

6. UNIVERSITY OF AKRON
Over the past several years the divide between the university and Downtown Akron has been bridged by intentional efforts resulting in a nearly seamless transition between the two areas

7. OPPORTUNITY ZONE LOCATION
Added to the US tax code as part of the Tax Cuts and Jobs Act in December 2017, the goal of the O-Zone program is to incentivize long-term capital investment in designated areas to promote economic development and job creation, specifically through the reallocation of capital gains.
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PNC Center (Office Building)
   
One Cascade Plaza
Akron, OH  44308
Closed: 7/14/2023
the Cushman & Wakefield Sunbelt Multifamily Advisory Group and National Senior Housing Capital Markets Group are pleased to announce the exclusive listing for the sale of Cottages at Celebration Village. Completed in 2022, the collection of 32 attached build-to-rent residences provides an active lifestyle for seniors and shared access to resort-style amenities at the adjacent senior living community, Celebration Village Forsyth. The Cottages are in an exceptionally affluent pocket of the North Atlanta Suburbs. Within a 7-mile radius, the average household income exceeds $175K with a median home value of $498K, and 15K seniors are 75+. Additionally, median home sales within the neighboring submarket of Johns Creek are even higher, exceeding $670k. The Cottages present an exceptional opportunity to acquire an active adult townhome community supported by impressive demographics and established senior population.
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Cottages at Celebration Village
32 Units
435 Reserve South Drive
Suwanee, GA  30024
Closed: 7/11/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Tidal Bluff, a 30-unit gated town home community located in Hilton Head Island, SC. Ideally located alongside scenic tidal marshes, the property is within walking distance to the beach and just minutes from top retail including Publix, Harris Teeter, Starbucks and more. The high-end submarket boasts top-tier demographics, with average HHI of $128k and average homes value of $770k. The asset offers near term stability through 2 master leases, guaranteeing 3.5%+ rent growth and 100% occupancy through 2025. Simultaneously, it offers dramatic rent growth potential, as nearby comps offer up to $2,500 in headroom. The waterfront site is zoned for additional density, allowing incoming ownership the opportunity to double the existing unit count. The island’s extremely high barriers to entry have resulted in less than 800 units delivered since 1990, highlighting Tidal Bluff as an exceptionally rare opportunity to invest in one of the Southeast’s most affluent and highly coveted coastal markets.
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Tidal Bluff
30 Units
5 Tidal Bluff Road
Hilton Head, SC  29926
Closed: 7/7/2023
The Sunbelt Multifamily Advisory Group of Cushman & Wakefield and Greystone is pleased to present the exclusive listing of the 80-unit Griffin Gate apartment community located 15 miles north of Clarksville, TN city limits in Hopkinsville, KY. This one-of-a-kind asset is strategically located 15 minutes from Fort Campbell, which provides over 58K jobs for the area. The property boasts top-of-the-market features and unique amenities, including an on-site walking trail and a brand new dog park. Over the past year, rental income at the property has increased over 25%. With the heavy lifting complete, a new investor can create additional upside by completing an interior value-add. Built in 2011, Griffin Gate represents an outstanding opportunity to invest in a high-quality product with strong financial trends and highly sought-after assumable debt in a limited supply submarket.
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Griffin Gate
80 Units
300 Griffin Gate Drive
Hopkinsville, KY  42240
Type:  Multifamily
Closed: 6/30/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 180-unit Madison Woods apartment community located in Greensboro, NC. This asset is situated in the desirable West Greensboro submarket, surrounded by a multitude of high end stores, restaurants, and entertainment within a 2.5 mile radius. Madison Woods is less than 2 miles from I-840, which provides easy connectivity to the plethora of employment drivers in the Triad. Toyota, Cone Health, Boom Supersonic, Publix, and Amazon have plans to expand in the area, adding to the significant economic growth that the Triad is currently experiencing. Built in 1968, Madison Woods offers an outstanding opportunity to complete a proven, in-place value-add program and boost NOI by 25%.
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Madison Woods
180 Units
5505 Tomahawk Drive
Greensboro, NC  27410
Type:  Multifamily
Closed: 6/30/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Gates at South Bend, 147 units located in Tuscaloosa, Alabama. Tuscaloosa has produced outstanding growth over the past decade, benefitting from an economy backed by two pillars: University of Alabama ($2.8B impact) the Mercedes-Benz plant ($5.8B investment). Gates at South Bend is centrally located in Tuscaloosa with virtually immediate access to I-20. Residents are within 20 minutes of the Mercedes Benz manufacturing plant and 10 minutes of UA’s main campus. Originally constructed between 1976-1980 and heavily rehabbed from 2017-2021, Gates at South Bend offers future ownership a performing, heavily capitalized asset well below replacement cost.
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The Gates at South Bend
147 Units
3831 3rd Avenue E
Tuscaloosa, AL  35405
Type:  Multifamily
Closed: 6/30/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 434-unit Columbia Value-Add 3 Portfolio, which can be acquired together or individually. Located in two of Columbia’s most prestigious and high barriers to entry submarkets, Dutch Fork and Lexington, residents at each asset enjoy direst access to 142k+ jobs within a 20-minute drive, seamless connectivity to the area’s largest employers, top tier retail, and higher education paving the way for continued appreciation. Furthermore, the immediate areas provide exceptional demographics with high avg. household incomes, predominantly white-collar workforces, and diminishing multifamily pipelines surrounding each asset. The portfolio arrives to market displaying attractive fundamentals including steady occupancy levels (98% avg.), an attractive mix of outsized floorplans as 50% of units are townhomes, an 18+ year ownership hold, and the opportunity for future development on Three Rivers’ additional 3 acres of land. Built from 1970-1974, this portfolio offers an outstanding opportunity to gain immediate scale and infrastructure in a high growth southeastern market through three well maintained assets ($2.9M+ in CapEx since 2020) with proven value-add programs achieving average premiums of $140.
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Columbia Value-Add 3 Portfolio (3 properties, 434 units)
Fountains of Edenwood
168 Units
1206 North Eden Drive
Cayce, SC  29033
Type:  Multifamily
Closed: 6/28/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 250-unit Hidden Valley and 236-unit Park Valley apartment communities located in Decatur, DeKalb County, Georgia. Situated in the rapidly-expanding Decatur area of east Atlanta, these assets enjoy close-in access to all of Atlanta's major employment hubs via I-285 and I-20. Both early 1970s vintage, Hidden Valley and Park Valley are located in one of the most popular multifamily submarkets in the Metro with organically rising rents for the past seven years.
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Hidden Valley & Park Valley (2 properties, 486 units)
Park Valley
236 Units
2571 Candler Road
Decatur, GA  30032
Type:  Multifamily
Closed: 6/28/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 434-unit Columbia Value-Add 3 Portfolio, which can be acquired together or individually. Located in two of Columbia’s most prestigious and high barriers to entry submarkets, Dutch Fork and Lexington, residents at each asset enjoy direst access to 142k+ jobs within a 20-minute drive, seamless connectivity to the area’s largest employers, top tier retail, and higher education paving the way for continued appreciation. Furthermore, the immediate areas provide exceptional demographics with high avg. household incomes, predominantly white-collar workforces, and diminishing multifamily pipelines surrounding each asset. The portfolio arrives to market displaying attractive fundamentals including steady occupancy levels (98% avg.), an attractive mix of outsized floorplans as 50% of units are townhomes, an 18+ year ownership hold, and the opportunity for future development on Three Rivers’ additional 3 acres of land. Built from 1970-1974, this portfolio offers an outstanding opportunity to gain immediate scale and infrastructure in a high growth southeastern market through three well maintained assets ($2.9M+ in CapEx since 2020) with proven value-add programs achieving average premiums of $140.
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Columbia Value-Add 3 Portfolio (3 properties, 434 units)
The Farrington
158 Units
1513 Farrington Way
Columbia, SC  29210
Type:  Multifamily
Closed: 6/28/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 434-unit Columbia Value-Add 3 Portfolio, which can be acquired together or individually. Located in two of Columbia’s most prestigious and high barriers to entry submarkets, Dutch Fork and Lexington, residents at each asset enjoy direst access to 142k+ jobs within a 20-minute drive, seamless connectivity to the area’s largest employers, top tier retail, and higher education paving the way for continued appreciation. Furthermore, the immediate areas provide exceptional demographics with high avg. household incomes, predominantly white-collar workforces, and diminishing multifamily pipelines surrounding each asset. The portfolio arrives to market displaying attractive fundamentals including steady occupancy levels (98% avg.), an attractive mix of outsized floorplans as 50% of units are townhomes, an 18+ year ownership hold, and the opportunity for future development on Three Rivers’ additional 3 acres of land. Built from 1970-1974, this portfolio offers an outstanding opportunity to gain immediate scale and infrastructure in a high growth southeastern market through three well maintained assets ($2.9M+ in CapEx since 2020) with proven value-add programs achieving average premiums of $140.
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Columbia Value-Add 3 Portfolio (3 properties, 434 units)
Three Rivers
108 Units
900 Gracern Road
Columbia, SC  29210
Type:  Multifamily
Closed: 6/28/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 224-unit Chapel View apartment community located in Chapel Hill, NC. This asset is situated in the thriving multifamily market in Chapel Hill and is benefiting from its proximity to UNC Chapel Hill. Just south of I-40, Chapel View is given streamlined access to Durham, RTP, and the entirety of the rapidly expanding Triangle. The property is just minutes from top retail including Whole Foods, Starbucks, Trader Joes, and Harris Teeter. Built in 1986, Chapel View offers an outstanding opportunity to invest in an asset that has received over $1.5 million in capital expenditures since the end of 2021. Incoming investors can continue the established, proven value-add program and increase NOI by over 23%.
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Chapel View
224 Units
2701 Homestead Road
Chapel Hill, NC  27516
Type:  Multifamily
Closed: 6/27/2023

$88,000 PER UNIT | 6.4% T-1 AND 6.2% T-3 CAP RATE

Harrison Point is in great physical condition and offers immediate cash flow selling at a 6.4% T-1/6.2% T-3 Cap Rate. A capital infusion of $4.6M+ has been completed since 2011. Much of the property infrastructure has been upgraded or replaced and windows were replaced within the last 13 years.

DEMONSTRATED REVENUE GROWTH POTENTIAL

High demand to live at Harrison Point is demonstrated by 30.4% rent growth on most recent 100 leases signed. From September to December 2022, renewal rents have increased 21% and new lease rents have increased by 37.7%, on average.

ABILITY TO RENOVATE AND ACHIEVE PREMIUMS

From 2013-2019, 28 unit interiors were upgraded with new cabinets, appliances, lighting and plumbing fixtures. The current revenue management has pushed rents significantly due to high occupancy and demand. The remaining 314 classic units could be upgraded. A new owner could also continue to operate the property as is and enjoy organic rent growth.

HIGH OCCUPANCY | LOW BAD DEBT AND TURNOVER | STRONG COLLECTIONS

Current occupancy is 97% at Harrison Point with a 97% five year average. Historical and current bad debt are low, and the property has had less than 10 evictions in 2022. Harrison Point enjoys low turnover with the majority of residents having living on site for at least two years.

VIBRANT EASTSIDE SUBMARKET

Located next to fast-growing Hancock County, the East side is showing upward trends in several indicators including occupancy and rent growth. Its substantial job base and strong regional economy are both growing faster than jobs nationwide. Industrial development is booming with 10.6 million SF under construction in the submarket.

808-UNIT PORTFOLIO OFFERING

Harrison Point can be purchased individually, or together with Aura (125 units) in Indianapolis, Tuscany Bay (96 units) in Lawrenceburg, and Devonshire Gardens (139 units) and Devonshire Place (106 units) in Evansville for a total portfolio of 808 units, offering instant economies of scale.

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Harrison Point
342 Units
9093 Bourbon Street
Indianapolis, IN  46236
Closed: 6/26/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 114-unit Arden Place apartment community located in Warner Robins, Houston County, Georgia. This asset is situated strategically northeast of major retail centers including Target, Walmart Neighborhood Market, Home Depot, Lowe’s, and Kroger, and just west of Robins Airforce Base. Built in 1983, Arden Place represents an outstanding opportunity to invest in a proven value-add asset achieving rent premiums of $250 on renovated units. The community is situated in the rapidly-expanding area of Watson Boulevard with strong growth indicators and market fundamentals, as Middle Georgia maintains its place as one of Georgia’s leading secondary markets.
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Arden Place
114 Units
835 Johnson Road
Warner Robins, GA  31093
Type:  Multifamily
Closed: 6/20/2023

The Cushman & Wakefield Florida Multifamily Advisory Group is pleased to present the 140-unit Palm Grove Apartments community located in Orlando, Florida.

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Palm Grove
140 Units
1200 Holden Avenue
Orlando, FL  32839
Type:  Multifamily
Closed: 6/15/2023
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Union Club
240 Units
3663 Union Chapel Road
Fort Wayne, IN  46845
Type:  Multifamily
Closed: 6/9/2023

Cushman & Wakefield is pleased to offer AVALON, a 117-unit fully renovated garden-style asset located in the Biltmore area of the city of Phoenix. Originally constructed in 1973, Avalon has undergone a complete renovation under the current ownership to create a high quality, affordable community in the highly desirable Biltmore area of Phoenix.

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Avalon
117 Units
3851 North 28th Street
Phoenix, AZ  85016
Closed: 6/1/2023
Sold
Chroma
70 Units
113 E 26th Street
Minneapolis, MN  55404
Closed: 6/1/2023

808-UNIT PORTFOLIO

Devonshire Gardens (139 units) and Devonshire Place (106 units) must be purchased together. They can also be purchased with Harrison Point (342 units) and Aura (125 units) in Indianapolis, and Tuscany Bay (96 units) in Lawrenceburg for a total portfolio of 808 units, offering instant economies of scale.

WELL MAINTAINED PROPERTIES WITH DESIRABLE FEATURES

The majority of windows and patio doors were replaced from 2012-2015 at both properties. The exteriors are mostly brick and have mature landscaping with a neighborhood feel. Both properties have very desirable, large townhome units.

VALUE-ADD OPPORTUNITY

A total of 100 units have already been upgraded and are achieving premiums of $70-$100+. Upgrading the remaining 145 units, as well as building exteriors would achieve additional revenue. Average rents are also below competing properties.

EXCELLENT LOCATION

Both properties are close together and are walkable to adjacent grocery stores and abundant retail on Green River Road. Deaconness Gateway Hospital and Ascension St. Vincent Evansville Hospital are a short drive. Interstate 69 is just two miles south of the properties.
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Devonshire Gardens & Devonshire Place
245 Units
815 Erie Avenue
Evansville, IN  47115
Type:  Multifamily
Closed: 5/30/2023

The Cushman & Wakefield Florida Multifamily Advisory Group is pleased to present Parkway Square & Tally Square, a 505-unit, two-property value-add opportunity, located in Tallahassee, Florida.

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Parkway Square & Tally Square (2 properties, 506 units)
Parkway Square
278 Units
1112 S. Magnolia Drive
Tallahassee, FL  32301
Closed: 5/30/2023

The Cushman & Wakefield Florida Multifamily Advisory Group is pleased to present Parkway Square & Tally Square, a 505-unit, two-property value-add opportunity, located in Tallahassee, Florida.

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Parkway Square & Tally Square (2 properties, 506 units)
Tally Square
228 Units
2855 Apalachee Pkwy
Tallahassee, FL  32301
Type:  Multifamily
Closed: 5/30/2023

Unique Property with large single-level floor plans

Aura offers residents a large single-level floor plan layout. One bedrooms offer 1,000 SF+ of spacious living and the average unit size is 1,200 SF+. All units have large patios and balconies, and first floor units have a wrought iron enclosed patio. The full amenity set features a fitness facility, pet park (new equipment) and pool (recently refurbished with new pool equipment and poured new deck around pool).

Near Major Employment and Amenities

Numerous major employment centers are within a 15-minute drive of the property. Aura is also very close to Marian University (1,115 emp.), Butler University (500 emp.), Indianapolis Motor Speedway (400+ emp.), Newfields Art Museum & Nature Park (300+ emp.) and the popular 5,300-acre Eagle Creek Park & Reservoir.

Close Proximity to Downtown Indy

Downtown Indianapolis is a quick 10 mile drive from Aura. Downtown is the main employment center and offers countless opportunities for dining, entertainment, sports, festivals and night life.

6.4% Cap Rate - Year One with Additional Upside

The current owner has spent more than a year cleaning up the rent roll and completing evictions for residents with non-payment. The new owner can achieve a 6.4% cap rate in year one by simply normalizing bad debt to 2%. By upgrading classic units, revenue can be increased by an additional $300K annually. Fully upgraded units will likely command a $200+ Premium.

808 Unit Portfolio Offering

Aura can be purchased individually, or together with Harrison Point (342 units) in Indianapolis, Tuscany Bay (96 units) in Lawrenceburg, and Devonshire Gardens (139 units) and Devonshire Place (106 units) in Evansville for a total portfolio of 808 units, offering instant economies of scale.

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Aura
125 Units
3035 W. 39th Street
Indianapolis, IN  46228
Closed: 5/25/2023
The Idaho Multifamily Advisory Group of Cushman & Wakefield and Greystone are pleased to present the exclusive listing of the 40-unit River View apartment community located in Burley, Cassia County, Idaho. This asset is situated along Snake River in the sought-after neighborhood of Burley, just east of Twin Falls. The property is located one mile from I-84, giving residents convenient access to major employers and economic driver Twin Falls. Over the last 12 months, average occupancy at River View has been 98%. Built in 2007, River View gives a new investor the opportunity to acquire an LIHTC asset with potential upside in a minimal supply submarket.
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River View
40 Units
256 West 3rd North
Burley, ID  83318
Closed: 5/24/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Riverwood Apartments, a 206-unit apartment community located in the rapidly expanding city of Wilmington, North Carolina. The 2022-built asset is strategically located in one of the East Coast’s fastest growing cities, seeing 37% population growth since 2010 alone. As population continues to swell, rents in the area are skyrocketing, with 25% rent growth expected by 2027. The property’s long-term desirability is bolstered by its increasingly affluent micro location ($82k+ Avg. HHI) and proximity to the city’s major entertainment & employment centers, including more than 200 new six-figure jobs at the nearby Live Oak Bank Headquarters. Riverwood has demonstrated excellent pace during lease-up thus far, averaging 24 move-ins per month from August 2022 through January 2023, while simultaneously escalating rental rates. Comprised of 42% townhomes and constructed with state-of-the-art finishes, Riverwood represents an outstanding opportunity to acquire one of the market’s top-quality assets, offering a clear path to close the $215 rent runway by signing leases at the proven rates.
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Riverwood
206 Units
3510 Corder Drive
Wilmington, NC  28412
Type:  Multifamily
Closed: 5/24/2023

1999 Built Property at $130k per Unit

Built in 1999, Tuscany Bay is newer than the majority of the comps, offers larger floorplans, more extensive amenities and W/D hookups in all units. Offered at $130k per Tuscany Bay is well below replacement cost and is located in a high income area with average household income of $95k+ in the one mile radius.

5.8% T-3 Actual Cap Rate & 13.2% Organic Rent Growth

Offering excellent cash flow immediately, Tuscany Bay is offered at a 5.8% T-3 Cap Rate and over a 6.5% Cap Yr 1. On the most recent 20+ leases, the property has achieved a $181/ month average increase in rent. This was achieved organically and not a result of unit upgrades.

Opportunity to Continue Upgrades & Increase Revenue

The current owner has upgraded the clubhouse and renovated 40% of the units. The remaining classic units can be upgraded to achieve additional premiums. A new owner can also provide washer/dryer machines and microwaves to charge a $40 premium and increase the Water/sewer bill back.

Easy Access to Cincinnati & Nearby Major Employers

The location of Tuscany Bay allows for easy access to all that Cincinnati has to offer. With downtown just under 30 min away, residents can access abundant employment, dining, shopping and entertainment options. The property is also conveniently located near major employers.

Purchase Individually or in 808 Unit Portfolio

Tuscany Bay can be purchased with Harrison Point (342 units) & Aura (125 units) in Indianapolis, IN as well as Devonshire Gardens (139 units) & Devonshire Place (106 units) in Evansville, IN, for a total portfolio of 808 units, offering economies of scale. The properties may also be purchased individually.
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Tuscany Bay
96 Units
100 River Road
Lawrenceburg, IN  47025
Type:  Multifamily
Closed: 5/16/2023
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