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JV Purchases Koll Center Newport Office Building in Newport Beach for $59.8M

NEWPORT BEACH, CALIF. — A joint venture between Greenlaw Partners and Hilrod has acquired a 156,310-square-foot office building within the master-planned Koll Center Newport in Newport Beach for $59.8 million. The Class A building is located at 4400 MacArthur Blvd. The property is 92 percent leased to tenants like Bank of the West and Fidelity National Title Co. It was built in 1979 and renovated between 2014 and 2016. The JV represented itself in this transaction. NKF’s Kevin..

August 22, 2017

Rivendell Acquires 194-Unit Apartment Complex in Colorado Springs for $44.5M

COLORADO SPRINGS,COLO. — Rivendell Global Real Estate has acquired the 194-unit Commons at Briargate in Colorado Springs for $44.5 million. The community is located at 2845 Freewood Point. Commons at Briargate was built in 1996. The property was 96 percent occupied at the time of sale. It is situated adjacent to the 2 million-square-foot Briargate Business Campus, which houses tenants like USAA, Kaiser Permanente and T.Rowe Price. Kevin McKenna and Saul Levy of ARA Newmark represented..

August 22, 2017

Terrapin Investments & Management Corp. Buys Sheraton Albuquerque Airport Hotel

ALBUQUERQUE, N.M. — Terrapin Investments & Management Corp. has purchased the 276-unit Sheraton Albuquerque Airport Hotel for an undisclosed sum. The hotel is located at 2910 Yale Blvd. SE in Albuquerque. The property is the only lodging facility situated on airport grounds at Albuquerque International Sunport Airport. Sheraton Albuquerque Airport Hotel is located about five miles southeast of downtown Albuquerque, two miles south of the University of New Mexico and three miles west of..

August 22, 2017

Savills Studley Arranges $18.5M Sale of Anaheim Lincoln Shopping Center

ANAHEIM, CALIF. — Savills Studley has arranged the $18.5 million sale of Anaheim Lincoln Shopping Center, a 72,950-square-foot retail center located roughly 27 miles outside Los Angeles in Anaheim. Savills Studley’s Kyle Miller and Bill Bauman brokered the transaction. A Los Angeles-based private investor acquired the center from an undisclosed private partnership. Vallarta Supermarket anchors the property.

August 22, 2017

CBRE Negotiates 105,026 SF Office Lease Renewal in Downtown Houston

HOUSTON — CBRE has negotiated a 105,026-square-foot office lease renewal on behalf of law firm Porter Hodges LLP at 1000 Main St. in downtown Houston. Charles Gordon, Brandon Clarke, Paul Penland and Ryan Roth of CBRE represented Porter Hodges in the lease negotiations. Wade Bowlin of PM Realty Group represented the landlord, 1000 Main LLC. Other tenants housed in the 837,161-square-foot building include Shell, UBS and Sanchez Energy.  

August 22, 2017

Clearworth Capital Acquires Two Multifamily Properties in Houston

HOUSTON — Clearworth Capital LLC has acquired The Hamptons and Las Brisas on El Dorado, two multifamily properties totaling 548 units in the Clear Lake submarket of Houston. Both the 347-unit Hamptons and the 202-unit Las Brisas were built in the 1970s and are located near the University of Houston’s Clear Lake campus. NorthMarq Capital provided an undisclosed amount of acquisition financing for the Class C portfolio. The seller was not disclosed.

August 22, 2017

NAI Secures $49.5M Sale of Walmart Neighborhood Market Portfolio in Tennessee

FORT LAUDERDALE, FLA. — NAI Rauch Weaver Norfleet Kurtz & Co., a Fort Lauderdale affiliate of NAI Global, has arranged the $49.5 million sale of a four-store Walmart Neighborhood Market portfolio located in Chattanooga, East Ridge, Murfreesboro and Knoxville. Frank Castoro of NAI represented the buyer, a series of special purpose entities (SPE). The sites were build-to-suit prototypes for the store and are triple-net-leased to Walmart Neighborhood Market for 15 years with 18 five-year..

August 22, 2017

InvenTrust Acquires Publix-Anchored Center in Atlanta’s Midtown District for $31.8M

ATLANTA — InvenTrust Properties Corp. has purchased The Plaza Midtown, a 70,000-square-foot, Publix-anchored retail center in Atlanta’s Midtown district, for $31.8 million. The property is located roughly half a mile from the Georgia Institute of Technology. In addition to Publix, The Plaza Midtown is home to restaurants, fitness concepts and beauty retailers. The seller was not disclosed. With this acquisition, Downers Grove, Ill.-based InvenTrust owns and manages 85 retail properties..

August 22, 2017

GCP Purchases 464,947 SF Industrial Property in Charlotte for $22M

CHARLOTTE, N.C. — Birmingham, Ala.-based Graham Commercial Properties (GCP) has acquired 10000 Twin Lakes Parkway, a 464,947-square-foot industrial property in Charlotte, for $22 million. Constructed in 1992, the Class A property is situated at the junction of Interstates 77 and 485. At the time of sale, 10000 Twin Lakes was fully leased to Schleich North America, a German producer of hand-painted toys, and Ingersoll Rand, a Dublin, Ireland-based industrial supply company. The seller was not..

August 22, 2017

SRS Arranges $11.2M Sale of Shopping Center in Metro Charlotte

INDIAN TRAIL, N.C. — SRS Real Estate Partners has brokered the $11.2 million sale of Union Town Centre, a 102,360-square-foot shopping center in Indian Trail, roughly 16 miles southeast of Charlotte. Kyle Stonis and Pierce Mayson of SRS represented the seller, Equity Investment Group, in the sale to Katz Properties LLC. Situated on 15 acres at 5850 Highway 74 West, Union Town Centre is anchored by Food Lion and Dollar Tree.

August 22, 2017