Immo-news.net : the real estate information website

The largest warehouse lease in 2009 so far has been closed this year at the end of September. After a long preparation period and tender Auchan Hungary Ltd. has decided to extend its logistics business activity in the immediate neighborhood of its present, Üllő operation location; in Viktória Park Logistics Center, a project that has recently been completed.

The 41.500 sqm project, realized as a REM Real Estate Inc. development is the third largest warehouse building for lease on the Budapest real estate market. Auchan has leased 18.200 sqm.

As Péter Boncsér the Logistics and Supply Chain Director of Auchan said: „This was the first step for us in a future, great volume logistics development that will be followed by similar investments. Besides the closeness of the leased area, the flexibility of our partners and the leasing conditions have also played an important role in our choice.”

László Vancskó, Managing Director of REM Real Estate Inc.: “We are very happy about the lease, which demonstrates that individual developments are indeed possible, even in the times of crisis and Viktória Park has proved to be one of these. We hope that the leasing of the rest of the building will be similarly successful; we are already in negotiations with interested parties at the moment.”

The Hungarian office of Colliers International has cooperated throughout the transaction as the exclusive agency delegated by the Owner.

Colliers International-Greater Phoenix has brokered the acquisition of San Melia in an off-market transaction for $47,824,000. The 488-unit luxury apartment community is located at 14435 South 49th Street in Phoenix, Ariz. The sales price was $98,000 per unit or approximately $96.97 per rentable square foot, based on ±493,192 rentable square feet.

Cindy Cooke, senior vice president, and Brad Cooke, vice president, of Colliers’ Phoenix office exclusively represented the buyer, Investment Property Associates, LLC (“IPA”), with offices in Grand Haven, Mich., and Phoenix, Ariz. The seller, TIAA-CREF of New York, was represented by Brad Goff and Bret Zinn of Apartment Realty Advisors in Phoenix.

“The class of the asset, its high-end amenities, a 96 percent occupancy rate, and the strong Ahwatukee market location made San Melia an excellent fit for IPA’s acquisition strategy and criteria,” said Cindy Cooke of Colliers, whose team represents IPA. “IPA specializes in best-of-class properties and we were pleased to assist in bringing San Melia to their portfolio.” IPA is a long-term holder, looking for additional A-quality assets in prime locations in the metropolitan Phoenix area.

San Melia is considered a crown jewel by many investors. Built by Mark Taylor in 1998, San Melia is a low-density, 488-unit, Class A luxury apartment home community set on approximately 27.5 acres. This gorgeous community has amenities seldom found even in Class A properties. Amenities include a resort-style swimming pool with sand beaches, two sand volleyball courts, two basketball courts, tennis courts, two spas, a luxurious clubhouse, a state-of-the-art fitness center, and garage parking. The two-story buildings consist of one-, two- and three-bedroom units with great floor plans that average 1,000 square feet. Each unit has a full-size washer and dryer, alarm system, and private patio/balcony. Select units include fireplaces.

The property is located in the highly desirable Ahwatukee Foothills community on South 48th Street, east of the I-10 freeway and south of East Ray Road. The community is just minutes from the Chandler, Tempe and Scottsdale employment centers, Ahwatukee Foothills Towne Center, and Chandler Fashion Center.

source : Colliers