D.C. museum to become high-end condos

Marcus & Millichap negotiated the sale of the 2.4-acre Children's Museum property in Washington, D.C.

The 130-year-old building commanded a total sales price of $24 million.

Stacey Milam and Janie Bjork, investment specialists in the firm's Washington, D.C., office, secured and represented the buyer in the transaction, D.C.-based housing developer Jim Abdo.  more...

L.A. business center sold

Newport Beach, Calif.-based The Koll Co. purchased Santa Fe Springs Commerce Center, a 157,669-square-foot multi-tenant industrial property in Santa Fe Springs, Calif.

The value of the transaction was $11.5 million.

Completed in 1978, the center is situated on an 8.2-acre site at 9920-10020 Pioneer Blvd., a mile east of the 605 Freeway. 

The property was purchased from Roll Properties International Associates, which is based in Los Angeles.  more...

Michigan multifamily complex changes hands

Hendricks & Partners is pleased to announce the sale of Townhomes of Meadowbrook, located at 2582 Davison in Auburn Hills, Mich.

The 230-unit apartment community was sold for $15.2 million.

The seller was EQR-Townhomes of Meadowbrook LLC of Chicago.

The buyer was BR Meadowbrook LLC of New York, N.Y. This is the buyer's first apartment acquisition in the Detroit market. Its goal is to make strategic capital improvements and sell the townhomes as condominiums.   more...