HOUSTON — Venterra Realty has sold Champions Woods Apartments, a 186-unit multifamily community in northwest Houston. The property features one- and two-bedroom units in various configurations that are equipped with garden tubs, built-in shelving, large walk-in closets and private balconies. Amenities include a swimming pool with waterfall, hot tub, outdoor entertainment pavilion with a grilling area, renovated fitness center and a cybercafé. Bob Heard, Chip Nash and Greg Austin of JLL handled the transaction on behalf of Venterra. James Brolan of JLL arranged a 10-year, floating-rate acquisition loan through Freddie Mac on behalf of the buyer, Haven Realty Capital.
Acquisitions
DALLAS — Southwest Transplant Alliance, a non-profit organ recovery organization, has sold a 33,561-square-foot office building in Dallas that served as its headquarters for 10 years. Mike Gosslee of Cushman & Wakefield represented Southwest Transplant Alliance, which will relocate to a 77,000-square-foot building that is currently under construction, in the transaction. Fears | Nachawati, a Dallas-based plaintiffs law practice, acquired the asset for an undisclosed price.
LAS VEGAS — Houston-based Weingarten Realty Investors has completed the sale of Westland Fair, a shopping center in west Las Vegas. Southern California-based Cannon Commercial acquired the asset for an undisclosed price. The transaction included seven parcels totaling 214,127 square feet of retail space. Rob Ippolito and Michael Zobrist of Newmark Knight Frank represented the seller in the deal. Located at 1251 S. Decatur Blvd., Westland Fair is anchored by regional and national tenants, including Smart & Final Extra!, Michaels and PetSmart. Additional tenants include Raising Cane’s Chicken Fingers, Freddy’s Frozen Custard, Applebee’s, Panda Express, Jamba Juice and Office Depot.
Pacific Castle Management Sells Strawberry Creek Shopping Center in Sacramento for $20.9M
by Amy Works
SACRAMENTO, CALIF. — Irvine, Calif.-based Pacific Castle Management has completed the sale of Strawberry Creek, a shopping center in Sacramento. A local private investment group acquired the property for $20.9 million. Constructed in 2007 on 7.4 acres, the four-building property features 57,373 square feet of retail space. Edward Nelson and Nicholas Scelsa of Marcus & Millichap represented the seller and procured the buyer in the deal.
Crystal Investment Property Arranges Sale of 47-Room Marigold Hotel in Pendleton, Oregon
by Amy Works
PENDLETON, ORE. — Crystal Investment Property has brokered the sale of The Marigold Hotel in Pendleton. The two-story property sold for an undisclosed price. Completely updated in 2018, the 47-key hotel features more than $560,000 in capital improvements and a mix of guestrooms. The Marigold Hotel also features close proximity to downtown restaurants and highway access, a designated parking garage, owner’s quarters and an on-site commercial kitchen. Joseph Kennedy of Crystal Investment Property represented the undisclosed seller and buyer in the deal.
SURPRISE, ARIZ. — Cushman & Wakefield has arranged the sale of Mountain Vista Plaza, a retail center located in Surprise. An entity formed by Boarder Capital sold the asset to Canada-based MIRAJH LLP for $14.1 million. Located at the southwest corner of Bell and Reems roads in Surprise, Mountain Vista Plaza features 64,071 square feet of retail space. Built in 2006, the fully redeveloped property is 93.5 percent occupied. Planet Fitness is the anchor tenant. Ryan Schubert and Michael Hackett of Cushman & Wakefield handled the transaction.
TEMPE, ARIZ. — Dixxon Flannel Co. has purchased a 48,000-square-foot industrial and retail warehouse located at 7200 S. Priest Drive in Tempe. A furniture store sold the asset for $4.5 million. Situated on 2.6 acres, the two-story property features a 13,000-square-foot showroom and office space. The first floor includes four office spaces, a showroom, kitchen, shower and two bathrooms, while the second floor features six office spaces, a storage area and conference room. Additionally, the building features 24-foot clear heights, four dock-high loading doors and a full sprinkler system. Ryan Reisman, Chris Rogers, Trevor McKendry and Steve McKendry of DAUM Commercial Real Estate Services represented the seller in the deal.
JEFFERSON CITY, MO. — Newmark Knight Frank (NKF) has arranged the $56.1 million sale-leaseback of the Jefferson City Medical Group (JCMG) portfolio. The two medical office assets total 184,181 square feet and are located at 1241 and 1225 W. Stadium Blvd. in central Missouri. JCMG is one of Missouri’s largest multi-specialty groups and has been serving the Jefferson City area for more than 25 years. The portfolio included JCMG’s medical building and its adjacent orthopedic center. Todd Perman, Dana Hamric and Richard Gerakitis of NKF, along with Kevin McLaughlin of NGZ, represented the sellers, four different ownership entities. MB Real Estate Advisors was the buyer.
ST. LOUIS — Hanley Investment Group Real Estate Advisors has negotiated the sale of a single-tenant property occupied by Raising Cane’s Chicken Fingers in St. Louis for $5 million. The 2,913-square-foot restaurant, located at 805 S. Vandeventer Ave., opened in August. Jeff Lefko and Bill Asher of Hanley, along with John Shuff of Pace Properties, represented the seller, Creve Coeur-based Noles Properties. A Newport Beach, Calif.-based private investor purchased the asset. The property sold at a cap rate of 5.97 percent.
TOLEDO, OHIO — Reichle Klein Group has brokered the sale of a 25,270-square-foot office and warehouse building in Toledo for $1.5 million. The property is located at 2940 Centennial Road. Ron Jurgenson of Reichle Klein represented the buyer, Toledo-based Tolson Investment LLC. Megan Malczeski of Signature Associates represented the seller, Toledo-based WaterStone Ltd.