39 units at Stead Village just sold for $5,046,000 or about $130K per door. These have been in portfolio for decades, but other units here (they are condo with an HOA for landscape maintenance which isn’t too successful) were selling for $40K or so out of foreclosure a few years ago.
Motel 6 on South Virginia just sold for $2,900,000.
Iron Horse Village in Sparks sold for $11,750,000 out of foreclosure. STAR Bonds allowed Target to relocate to Legends, and a bunch of investors got hosed.
Renown bought the old Lowe’s on Oddie. 192,240 SF plus a pad lot for $6,510,000. Lowe’s moved to legends for STAR Bonds, and Sparks gets the world’s largest walk in clinic. Sort of the St. Mary’s deal for the old Scolari’s on Sharlands on steroids.
Somersett Golf and Country Club has filed their site permit for the future club house to replace the club tent.
Next post is going to be all about Midtown with some Powning added for spice. Midtown will be seeing more than double the number of new units that have been built in the last 5 years breaking ground this Summer. 90% or so will be For Sale and not rentals. Slab for the 21,000 SF GBS 1401 S Virginia LLC project gets poured Monday. Sid Leggett is getting added to the available retail mix. Exciting.