Nuvida lands Arizona apartments

A Southern California-based investor paid $15.5 million for a 172-unit multifamily community in Tempe, Ariz.

Nuvida Ventures purchased the property, Paxton on Rural, from Residential Equity Partners at a price that represents $90,116 per unit.

Located at 3409 S. Rural Road, the 148,750-square foot apartment community is situated on a 7-acre lot. The apartment community recently underwent more than $500,000 worth of capital improvements.  more...

Austin's Overwatch Campus sells

A 164,000-square-foot office building in Austin, Texas, has sold to an international real estate company for an undisclosed price "significantly above replacement cost," according to a press statement.

HDG Mansur purchased the class A property on behalf of an investment fund it manages from an unidentified entity.

The property, located at 5301 Southwest Parkway, is also known as the Overwatch Campus, named after the tenant occupying 100 percent of the building at the time of sale.  more...

New Jersey industrial project attracts buyer

AMB Property Corp. has paid an undisclosed price for a 452,000-square-foot industrial project in Edison, N.J.

The rail-served facility, renamed AMB New Durham Industrial Center, increases AMB's market position in its Northern New Jersey/New York target market to 12.3 million square feet, according to a press statement. The property is located near major transportation nodes, including the Port of Newark/Elizabeth, Newark Liberty International Airport, and the confluence of major arteries including the New Jersey Turnpike and Middlesex Freeway.  more...