Globest Sectors

We continue to take a deeper look at GlobeSt.com's ADAPT award winners in our pre-events coverage. Today, we highlight The Pizitz for its excellence in recognizing historic building potential.

Atlantic Health System bested offers from 19 other potential buyers and saw great value in owning the building outright to expand its services and meet the health needs of the community, JLL states.

Commercial brokerage firm CBRE reported the transaction involved the purchase of seven buildings totaling approximately 82,000 square feet by one buyer in a sale-leaseback deal, while two other buildings that had recently been vacated by YCS were acquired by two separate purchasers.

Completed in 2017, the 21-story property offers a variety of spacious studio, one- and two-bedroom units averaging 1,087 square feet.

The Oak Ridge Apartments, a 137-unit, garden-style, multifamily asset in Largo, which includes apartments and townhomes, sold for $15.9 million, or $116,350 per unit.

The California Association of Realtors issued a statement from president Jared Martin, saying it is disappointed by the passage of the bill, which moves California toward statewide rent control.

The property was sold by Addison, TX-based Senior Quality Lifestyles Corp. The deal calculated out to $228,464-per-unit.

These industrial lease could provide some relief to a very tight industrial market in Los Angeles.