FREMONT, CALIF. — Gadsden Growth Properties has acquired Mission Hills Square, a mixed-used development in Fremont, for $240 million. Slated for completion in October 2019, Mission Hills Square will feature 158 residential apartments above 53,900 square feet of commercial space, including restaurants, retail and casual eateries. In November 2018, Gadsden Growth Properties signed an agreement to merge with FC Global Realty Inc.
SAN DIEGO — HFF has arranged the sale of Liberty Station, an office complex in San Diego. McMillin Cos. sold the property to a partnership between IDS Real Estate Group and Lionstone Investments for $76.8 million. Located at 2280, 2468 and 2488 Historic Decatur Road and 2750 Womble Road, Liberty Station features four buildings offering a total of 181,171 square feet of office space. The buildings were completed between 2003 and 2006 and are 81.1 percent leased to a diverse tenant roster of legal, professional and financial services, aerospace and defense, hospitality, government and media tenants, among others. Nick Psyllos and Kara Mathis of HFF represented the seller in the deal. Tim Wright and Chris Collins of HFF secured a $58.9 million, 72-month, floating-rate acquisition loan with SunTrust Bank for the buyer. Liberty Station is situated within the greater 360-acre Liberty Station master plan, which includes 349 residential units; 347 hotel rooms, with an additional 650 hotel rooms under construction or proposed; nearly 400,000 square feet of office space; more than 30 food and beverage establishments; over 40 retail stores, including grocery anchors; and 16 health and fitness centers. The master-planned community also features 11 event spaces; a luxury movie theatre; …
COMMERCE, CALIF. — CapRock Partners has completed the sale of an industrial warehouse in Commerce. The tenant, a packaging solutions supplier, acquired the building and a 4.3-acre property for an undisclosed price. Located at 5331 and 5333 Slauson Ave., the asset features 97,000 square feet of industrial space. Ryan Campbell of NAI Capital and Tony Naples of Lee & Associates represented the seller, while Naples also represented the buyer in the deal.
PORTLAND, ORE. — Cushman & Wakefield National Senior Housing Capital Markets, exclusively advising seller Focus Healthcare Partners LLC, has arranged the sale of a portfolio of two seniors housing assets in Portland. The portfolio included Vancouver Pointe Senior Village, a 127-unit independent living community, and Hawthorne Gardens, a 58-unit assisted living and memory care community in the Sunnyside/Hawthorne neighborhood. A private equity investor acquired the properties for an undisclosed price. Artegan, the current operator, will continue to manage the communities. Vancouver Pointe Senior Village was originally built in 2006 and recently underwent renovations to the common areas totaling nearly $1 million. Hawthorne Gardens was built in 2007 featuring 36 assisted living units and a 22-unit memory care wing. The community also underwent a recent capital improvement program to complete a memory care conversion and a general upgrade of the community.
CHEVERLY, MD. — New York-based Arbor Management Acquisition Co. (AMAC) has acquired Cheverly Station, a 555-unit multifamily community in Cheverly, for $66 million. Cheverly Station features one-, two- and three-bedroom floor plans, a playground, fitness center, dog park and a swimming pool. The asset is situated about eight miles east of downtown Washington, D.C. AMAC purchased the apartment community through its AMAC Fund III investment fund using a 10-year Freddie Mac loan. The acquisition brings AMAC’s portfolio in Prince George’s County, Maryland to approximately 2,500 units.
CHARLOTTE, N.C. — CBRE has arranged the $29.9 million sale of the Chamber Building, a five-story, 65,444-square-foot office building located at 330 S. Tryon St. in downtown Charlotte. The asset was fully renovated in 2015 and includes a parking garage on a half-acre lot adjacent to the building. Tenants at the time of the sale included the Charlotte Chamber of Commerce, Perkins & Will, Compass Bank, Famous Toastery and Progressive AE. Patrick Gildea, Matt Smith and Grayson Hawkins of CBRE represented the seller, Grubb Properties, in the transaction. Ferncroft Capital purchased the property.
ROANOKE, VA. — BC Wood Properties has acquired Ivy Market, a 31,073-square-foot shopping center situated about three miles south of downtown Roanoke. The asset is occupied by Earth Fare, First Watch and a soon-to-open CoreLife Eatery. The seller and sales price were not disclosed.
MAHWAH, N.J. — CBRE has arranged the $10.2M sale and leaseback of an office property in Mahwah. Located at 1111 Macarthur Blvd., the two-story, 140,420-square-foot building was constructed in 1979 and fully renovated in 1990. Thomas Mallaney, Randy Eigen and Conor Dolan of CBRE represented the seller, Seiko Holdings Corp. in the sale and leaseback. The buyer was 1111 MacArthur Boulevard LLC. Seiko has agreed to lease 18,400 square feet at the property. Nuance Communications, a U.S.-based multinational software technology corporation already occupies 27,317 square feet of space at the property under a long-term lease.
NEW BRITAIN, CONN. — Northeast Private Client Group has brokered the $6.4 million sale of two mixed-use buildings in New Britain. Located at 99 W. Main St. and 160 Main St., the properties consist of a combined nine ground-floor retail suites with 30 residential units on the upper floors. The buildings are located within one block of each other. Rich Edwards and Jeff Wright in the firm’s Shelton office represented the seller, AKK Enterprises, in the transaction. The buyer was Melrose Solomon Enterprises.
HOUSTON — Lee & Associates has negotiated the sale of a 14,000-square-foot industrial asset located at 6635 Theall Road in Houston. According to LoopNet Inc., the single-tenant property was built in 2017 and features 28-foot clear heights. Robert McGee, Thomas Leger and Chase Cribbs of Lee & Associates represented the seller, Axis Texas Development Group LLC, in the transaction. Clint Hankla, also with Lee & Associates, represented the buyer, CCIRF LLC.