Property Type

Centerpark-Denver-CO

DENVER — A joint venture between Westfield and Reinsurance Group of America has purchased Centerpark, a three-building industrial project in Denver, from an undisclosed seller for $73 million. Situated on more than 22 acres, the three buildings are located at 4900, 5000 and 5050 Osage St. At the time of sale, the 431,157-square-foot multi-tenant property was fully leased to 10 tenants. Centerpark features multiple points of ingress/egress, suitable tenant size flexibility with various storefronts, loading options (Buildings C and D are spine cross-dock), functional column spacing, ample parking, concrete truck aprons and ESFR sprinklers. Additionally, the property is located within a Denver Enterprise Zone. Will Strong, Jim Carpenter, Kirk Kuller, Michael Matchett, Molly Hunt and Dean Wiley of Cushman & Wakefield’s National Industrial Advisory Group brokered the transaction. Alec Rhodes, Aaron Valdez and Tyler Smith of Cushman & Wakefield provided leasing advisory for the buyers, which retained the team for future leasing of Centerpark.

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Montrose-Collective-Houston

HOUSTON — JLL has arranged a loan of an undisclosed amount for the refinancing of Montrose Collective, a shopping and dining destination in Houston’s Midtown neighborhood. Montrose Collective opened in 2022 and was 98 percent leased at the time of the loan closing to restaurants such as Marmo and Uchi, as well as tenants such as Live Nation and Reformation Brewery. Prime Finance provided the loan to the borrower, a partnership between Radom Capital and institutional investors advised by J.P. Morgan Global Alternatives. Colby Mueck, Michael Johnson and Jack Britton led the JLL team that placed the loan, which retires the original construction loan that JLL arranged for the development in 2020.

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14011-S-Normandie-Ave-Gardena-CA

GARDENA, CALIF. — Matthews Real Estate Investment Services has arranged the sale of an industrial property located at 14011 S. Normandie Ave. in Gardena. Classic Components acquired the vacant asset from California-based Marmon Properties for $10.7 million. Austin Borges and Alexander Harrold of Matthews handled the transaction. Classic Components, a leader in supply chain solutions, intends to use the 37,072-square-foot, single-tenant facility as its new corporate headquarters.

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IHOP-Lancaster-Palmdale-CA

LANCASTER AND PALMDALE, CALIF. — A private investor has acquired two retail locations in Los Angeles County for $3.4 million each, or $6.8 million combined. The properties are net-leased to IHOP. The restaurants are located at 1650 W. Ave. K in Lancaster and at 39176 10th St. W in Palmdale. The deal terms consisted of a new 23-year lease that commenced at the close of escrow, 1.5 percent annual increases and a 30-unit guarantee. Andre Thompson and Peter Deltondo of Marcus & Millichap represented the seller, a private investor, and secured the buyer in the deal.

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PLANO, TEXAS — Blueprint Healthcare Real Estate Advisors has brokered the sale of a 65-unit seniors housing facility in Plano. The unnamed property was built in the 1990s and offers assisted living and memory care services. The seller was a national development and investment firm, and the buyer was a regional seniors housing owner-operator. Both parties requested anonymity. Giancarlo Riso, Amy Sitzman and Alex Florea of Blueprint brokered the deal.

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NORMAN, OKLA. — Indianapolis-based developer Bremner Real Estate has broken ground on the Oklahoma University Health Stephenson Cancer Center at Norman Regional, 48,000-square-foot healthcare project that will be located just south of Oklahoma City. The facility, which will serve patients from Norman Regional Health System and OU Health, will feature an underground tunnel connection to the main hospital, 24 infusion bays, exam rooms and physician office spaces. Completion is slated for 2025.

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1314-Maple-Sumner-WA.jpg

SUMNER, WASH. — Marcus & Millichap has brokered the sale of 1314 Maple, a multifamily property in Sumner. A limited liability company sold the asset to an undisclosed buyer for $3.6 million, or $495 per square foot. Located at 1314 Maple St., the building features 16 studio and urban one-bedroom units, averaging 458 square feet. The sellers completed a more than $1 million interior and exterior renovation to the property. Kellan Moll, Mitchell Loofburrow and Scott Morasch of Marcus & Millichap’s Seattle office represented the seller in the deal.

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FRISCO, TEXAS — Ruiz Foods, a provider of frozen Mexican foods, has opened a new 25,000-square-foot headquarters space at HALL Park in Frisco, according to reports from local media sources. According to Star Local Media, the company is in the process of relocating some employees from its existing headquarters facility in Dinuba, Calif., in addition to hiring some local workers. Ruiz Foods eventually plans to employ about 125 people at the new facility, the local paper reports.

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HOUSTON — Affiliated Engineers Inc. has signed a 6,945-square-foot office lease at the Greenway Plaza office complex in West Houston. The space is located within 20 East Greenway Plaza, a 433,132-square-foot building. Ray Lopez of Colliers represented the tenant in the lease negotiations. Marilyn Guion and Steve Rocher of CBRE represented the landlord, an entity doing business as Twenty Greenway Plaza.

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DENVER — Malman Commercial Real Estate has arranged the sale of 131 Madison Street, an office building located in Denver’s Cherry Creek district. University of Colorado Health, a Colorado nonprofit corporation, acquired the asset from 131 Madison Investors, a Texas limited liability company, for $3.1 million. The property offers 6,156 square feet of office space. Jake Malman and Taylor Roy of Malman Commercial Real Estate represented the seller, while Kyle Underwood and Julie Burch of Legend Partners represented the buyer in the deal.

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