DALLAS — Locally based financial intermediary Metropolitan Capital Advisors (MCA) has arranged a $5.1 million construction loan for a 20,700-square-foot retail property that will be located adjacent to the RedBird Mall in South Dallas. Foot Locker will occupy the space, which will be fronted by a one-acre outdoor area that will be used for outdoor athletic events. Scott Lynn and Andrew Hanzl handled the debt placement with Texas Capital Bank on behalf of the borrower, RedBird Development Group. Future phases at RedBird Mall will include the construction of several restaurant concepts neighboring the Footlocker along the perimeter of the green space.
NEBRASKA, IOWA AND KANSAS — Blueprint Healthcare Real Estate Advisors has arranged the sale of 15 skilled nursing facilities in Nebraska, Iowa and Kansas. The portfolio included 10 locations in Nebraska, four in Iowa, and one in Kansas, and consists of over 950 licensed beds. The facilities are in predominantly secondary and tertiary submarkets, and the majority were built in the 1960s and 1970s. Blueprint’s Michael Segal, Ben Firestone and Steve Thomes handled the transaction. Buyer and seller information was not disclosed.
OAKLAND, CALIF. — CenterPoint Properties has purchased an industrial building, located at 5901 San Leandro St. in Oakland, for an undisclosed price. Situated on a 6.8-acre parcel, the 130,500-square-foot property offers rail-served industrial warehouse space and an ample yard area less than six miles from the Port of Oakland. The facility features 10 rail doors, 28 dock-high loading positions, six grade-level loading doors, a fully fenced and secured perimeter, and ample paved yard for truck/trailer parking and staging. The acquisition of 5901 San Leandro Street represents the fourth East Bay acquisition for CenterPoint over the past 10 months. Justin Smutko, Mark Maguire and Nick Mascheroni of Colliers International represented both the buyer and undisclosed seller in the deal.
FOLSOM, CALIF. — Voit Real Estate Services has arranged the purchase of Natoma Station Corporate Center, a multi-tenant office building in Folsom. Iron Point acquired the property from PAC West Office Equities, an entity of Buzz Oates Real Estate, for $23.7 million. Located at 950 Iron Point Road, the two-story property features 102,750 square feet of Class A office space. The buyer will occupy a portion of the property as the new corporate headquarters for two entities serving the logging and utility services industries: Mountain G Enterprises and Mountain F Enterprises. With these leases, the building will be fully occupied. Additional tenants include Devry, General Dynamics and Allstate. Rocco Curci of Voit’s Irvine, Calif., office represented the buyer, while Kevin Partington and Sean Mullen of Cushman & Wakefield represented the seller in the transaction.
WESTMINSTER, COLO. — Marcus & Millichap has facilitated the sale of Country Club Village, a retail asset located at 2721 and 2821-2851 W. 120th Ave. in Westminster. A California-based private investor acquired the asset for $9.2 million. Tenants at the 33,091-square-foot property include Caribou Coffee Co., TCBY Yogurt, Ana’s Mexican Restaurant, Hana Matsuri Sushi and Gillett Veterinary Clinic. Ryan Bowlby of Marcus & Millichap’s Denver office represented the buyer in the deal. Phillip Gause, also of Marcus & Millichap, secured financing for the transaction. The financing features a fixed, long-term interest rate with a 30-year amortization term and no prepayment penalty.
EL MIRAGE, ARIZ. — Cushman & Wakefield has brokered the $4.1 million sale of West Thunderbird Mini Storage, a self-storage facility in El Mirage. Paul Boyle and Rick Danis of Cushman & Wakefield represented the undisclosed buyer and seller in the deal. Located at 12500 W. Thunderbird Road, West Thunderbird Mini Storage totals 400 units. Built in 2002, the 45,230-square-foot property features on-site management, drive-up access, air-controlled units, perimeter fencing, gate entry, surveillance cameras and RV, car and boat parking. At the time of sale, the property was 94 percent occupied.
HOUSTON — Hines and an affiliate of Cerberus Capital Management LP have purchased a 2.1 million-square-foot office complex located at 600-601 Travis St. in downtown Houston. The property at 600 Travis St., which was formerly branded JPMorgan Chase Tower, stands 75 stories, measures approximately 1.7 million square feet including 22,237 square feet of ground-floor retail space and is the tallest building in Texas. The building at 601 Travis St. was formerly branded JPMorgan Chase Center, rises 20 stories and spans about 408,000 square feet. The property at 600 Travis St. will undergo significant capital improvements, including upgrades to the lobby and common areas and the addition of a new conference center. Hines manages both buildings. The seller was not disclosed.
PLANO, TEXAS — A partnership between Dallas-based Trez Capital and Houston-based Hines has acquired a 1,603-unit self-storage facility located at 525 N Ave. in Plano. The four-building facility, which is located near the intersection of President George Bush Tollway and U.S. Highway 75, features a gross square footage of 235,400 square feet and 124 for-lease parking spaces. The new ownership plans to increase the leasable parking space by 30 to 40 percent. The transaction marks the first self-storage acquisition for the partnership, which has primarily focused on single-family development over its six-year existence.
EDINBURG AND BROWNSVILLE, TEXAS — Dallas-based developer RightQuest, n conjunction with local partnerships JTMR LLC and JJR Group Ltd, has sold a 416-unit luxury apartment portfolio located in south Texas to an undisclosed buyer. The portfolio includes the 144-unit Royal Vista in Edinburg, the 128-unit Bella Vista Phase I and the 144-unit Bella Vista Phase II in Brownsville. All properties were completed within the last six years. Institutional Property Advisors, a division of Marcus & Millichap, represented the seller in the transaction, and JLL represented the buyer.
COLUMBIA, S.C. — Capstone Apartment has negotiated the sale of Hunter’s Way, a 304-unit apartment complex in Columbia. The garden-style property offers one-, two- and three-bedroom floor plans spanning 38 two-story buildings. The community was 92 percent occupied at the time of sale. Communal amenities include a swimming pool, playground and clubhouse, as well as laundry facilities in each building. The buyer, GLP Investments, plans to rebrand the community and implement a multimillion-dollar renovation. Ron Corrao, Alex McDermott, Austin Green, and Brian Ford of Capstone represented the seller, Rivercity Ventures, in the transaction. The sales price was not disclosed.