Cushman & Wakefield's Metropolitan Area Financial Services Group (FSG) procured Korman as the buyer and repped seller Edgewater Enterprises in the transaction. The sale price and other details of the transaction were not disclosed.
At City Place, an additional six acres of land is under contract for 87 housing units, and C&W FSG has multiple contracts in place for the remaining apartments, the entire retail component and the undeveloped parcel, with the closings staggered over the next several months.
"The forward sale of this mixed-use property is an example of the continued high investment demand for both retail and multifamily product," says Jose R. Cruz, a director with FSG.
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