NEWNAN, GA. — Retail Value Inc. (RVI) has sold a Lowe’s Home Improvement store in Newnan for $15.6 million to an undisclosed buyer. The property is situated at 955 Bullsboro Drive, 35 miles southwest of downtown Atlanta. Lowe’s shadow anchors Newnan Crossing, which RVI sold to Halpern Enterprises for $11.6 million in January. Tenants at Newnan Crossing include Hobby Lobby, GNC, American Deli, Metro by T-Mobile, Sally Beauty and Edible Arrangements.
MESQUITE, TEXAS — Lee & Associates has arranged the sale of a 35,154-square-foot industrial building located at 2027 Presidential Row in the eastern Dallas suburb of Mesquite. An undisclosed owner-operator purchased the building, which was originally constructed in 1982. Taylor Stell and Brett Lewis of Lee & Associates brokered the deal.
SUGAR LAND, TEXAS — Marcus & Millichap has brokered the sale of a 1,875-square-foot retail property in the southwestern Houston suburb of Sugar Land that is net-leased to Starbucks Coffee. Justin Miller and Davis Hansen of Marcus & Millichap represented the seller, an out-of-state private investor, in the transaction. The duo also procured the locally based buyer. Both parties requested anonymity.
LAS VEGAS — Los Angeles-based Dekel Capital has arranged $35 million in debt equity on behalf of Moonwater Capital for its acquisition of the NV Energy Pearson Building, an office building in Las Vegas. Located at 6226 W. Sahara Ave., the four-story property features 262,000 square feet of office space. NV Energy has been the sole tenant of the corporate headquarters building since it was constructed in 1983. The public utility, wholly owned by Berkshire Hathaway Energy, provides a wide range of services throughout the state of Nevada. In additional to raising joint venture equity for the Las Vegas-based borrower, Dekel arranged $23.8 million in long-term, fixed-rate, first mortgage debt from a West Coast-based regional bank. The borrower acquired the property as a core-plus asset to add to its office portfolio in the Las Vegas market, which totals approximately 700,000 square feet of commercial office space.
RIVERSIDE, CALIF. — Colony Capital has divested of Commerce Square Business Park, a four-building office portfolio located at 1550 Marlborough Ave. and 1737, 1777 and 1989 Atlanta Ave. in Riverside. An undisclosed buyer acquired the asset for just over $14 million. At the time of sale, the 128,912-square-foot business park was 90 percent leased to 14 tenants ranging in size from 1,395 square feet to 23,000 square feet. Tenants include Level 3 Communications (Century Link), T-Mobile, Honeywell International and the State of California. Kevin Shannon, Ken White, Sean Fulp, Scott Schumacher and Ryan Plummer of Newmark Knight Frank represented the seller. The buyer was self-represented in the transaction.
LATHROP, CALIF. — Overton Moore Properties, in a joint venture with Invesco Real Estate, has acquired a single-tenant industrial facility located at 18231 Murphy Parkway in Lathrop. Terms of the transaction were not released. Situated on 11 acres, the 118,056-square-foot property is fully leased to Simwon America Corp., a Tier 1 supplier of Tesla. The buyer plans to expand the current building by approximately 80,000 square feet for Simwon’s growing manufacturing demands. Mike Goldstein and Ryan McShane of Colliers International, Stockton/Central Valley office, represented the buyer and undisclosed seller in the deal.
COSTA MESA, CALIF. — Lee & Associates has arranged the sale of an office building located at 3545 Howard Way in Costa Mesa. Sovereign Lending Group acquired the property from Davies-Torrance Trust for $5.1 million. Built in 1986, the two-story building features 23,125 square feet of office space. The buyer intends to occupy the building. Allen Basso of Lee & Associates Irvine represented the buyer, while Eric Tse of Kidder Mathews represented the seller in the deal.
SAN ANTONIO — The Multifamily Group (TMG), a Dallas-based brokerage firm, has arranged the sale of Legacy Apartments, a 130-unit multifamily community in San Antonio. The property was built in 1974 and features one- and two-bedroom units. Bryce Smith of TMG represented the seller, DJE Texas Management Group, in the transaction, and procured the undisclosed buyer. The sales price was not disclosed.
TULSA, OKLA. — Jared Jones, the Argus Self Storage Advisor for Oklahoma, has brokered the sale of South Park Mini Storage, a self-storage facility in Tulsa that spans 29,857 net rentable square feet across roughly 500 units. The original developer sold the property to a private buyer that will implement a value-add program.
PHILADELPHIA — JLL has negotiated the sale of Columbus Crossing, a 140,418-square-foot retail center located along Christopher Columbus Boulevard in southeastern Philadelphia. The open-air, riverfront property was fully leased at the time of sale to tenants such as T.J. Maxx, HomeGoods, Ulta Beauty, Planet Fitness, Chipotle Mexican Grill and AT&T. In addition, a Walmart and Home Depot shadow-anchor the center. Chris Munley, Jim Galbally and Colin Behr of JLL represented the undisclosed seller in the transaction. The trio also procured the buyer, Paramount Realty Services.