Mainstreet at Flatiron sells

Mainstreet at Flatiron, a 92,973-square-foot, open-air retail/office complex in Broomfield, Colo., has been purchased for $15.8 million.

Coalton Holdings LLC sold the property to an unidentified buyer at $170 a square foot.

Located at 520 Zang St. and 549 Flatiron Blvd., the two-building property was built in 2002 and is located adjacent to the 1.5 million-square-foot Flatiron Crossing Mall.

At the time of sale, the property was 98 percent leased to 20 tenants, all of which have triple-net leases in place.

Hines JV buys 25-story office tower

Hines-Sumisei U.S. Core Office Fund L.P. recently purchased a 25-story, class A office tower in Charlotte, N.C., for an undisclosed price.

An unidentified entity sold the asset to the Core Fund, which is an investment vehicle organized by Hines and Sumitomo Life Realty (N.Y.) Inc. that now owns 23 properties, according to a press statement.

The building, Carillon, is located along West Trade Street and comprises approximately 469,000 rentable square feet built in 1989.  more...

Sale closes on Phoenix townhomes

Windsor Realty Fund-V LLC has acquired the 360-unit Preserve at Mountain Park Ranch townhome apartments in Phoenix, Ariz., for an undisclosed price.

The property, whose seller was not disclosed, is located in a master-planned community known as Mountain Park Ranch, near the Ahwatukee area of Phoenix. The property, which will be renamed Windsor at Mountain Park Ranch, is located west of Interstate 10 and north of Ray Road.

The property was constructed in 1996 and consists of all two- and three-bedroom units with an average size of more than 1,200 square feet.  more...