CAPRE’s Commercial Real Estate Headlines for November 7, 2019

Check out the latest deals and developments in commercial real estate for November 7, 2019: Blaze Partners Sells The Bluestone Apartments in Bluffton, SC: Blaze Partners has announced the sale of The Bluestone, a 360-unit, Class A apartment community in the Bluffton submarket of Hilton Head, on behalf of its affiliates. Located at 4921 Bluffton Parkway, The Bluestone was acquired in August 2016. Upon purchasing the asset, Blaze quickly set out on an extensive value-add campaign focused on enriching the resident experience and unlocking embedded value at the community.  Property upgrades included a new state-of-the-art clubhouse, redesigned exterior amenities, and premium renovations of interior units. In addition, the asset was rebranded to reposition market perception and reflect the upgraded resident experience. These improvements combined with the strong fundamentals of the Hilton Head market made the property a highly sought-after acquisition target. Newmark Knight Frank Represents Panattoni in $24 Million USD Industrial Land Acquisition in Miami, FL: Newmark Knight Frank has represented Panattoni Development Company in its $24 Million USD acquisition of a 20-acre industrial site in Miami. The deal paves the way for a new infill development project, to be named Gratigny Logistics Park, in a highly sought-after market known for its scarcity of developable land. Panattoni purchased the property at 3000 NW 123rd Street from a NY-based financial services firm. The property is currently home to a vacant dairy plant. PDC plans to immediately redevelop the site with new…