HOUSTON — Credit union Wellby Financial has purchased 9.5 acres in southeast Houston for its new headquarters facility. The site is located near Baybrook Mall and about three miles from Wellby’s current headquarters office at 1330 Gemini St. The square footage of the new complex was not disclosed, but the project will be developed in phases, with construction scheduled to begin next year. Kelly Hutchinson of Colliers represented Wellby Financial in the land purchase. The seller and sales price were not disclosed.
SAN ANTONIO — Partners Real Estate has brokered the sale of an apartment building in San Antonio’s Oak Park/Northwood neighborhood. According to Apartments.com, Riviera Apartments totals 20 units in studio, one- and two-bedroom floor plans and was built in 1965. Steve Garza and Justin Ventura of Partners represented the buyer, an entity doing business as SP 2118 Edgehill LLC, in the transaction. Diego Guevara of Core Commercial represented the undisclosed seller.
SPANISH FORT, ALA. — JLL has negotiated the $33.2 million sale of Eastern Shore Centre, a 432,158-square-foot power shopping center located at 30500 Highway 181 in Spanish Fort, a suburb of Mobile, Ala. Jim Hamilton, Brad Buchanan and Andrew Nichols of JLL represented the seller, Allied Development, in the transaction. Chip Sykes, Hunter Goldberg, Hamp Gibbs and Mikey Minihan, also with JLL, arranged an undisclosed amount of acquisition financing on behalf of the buyer, Wicker Park Capital Management. Situated on 42.7 acres and shadow-anchored by Dillard’s, Eastern Shore Centre’s tenant mix includes Belk, Shoe Station, Barnes & Noble, Stock & Trade, California Dreaming, Half Shell Oyster House and Mountain High Outfitters. Wicker Park, along with property manager affiliate Crawford Square Real Estate Advisors, has plans to continue to elevate the tenant profile and activate the place-making opportunities within Eastern Shore Centre.
Cushman & Wakefield | Commercial Brokers Sale of 100,943 SF Poplar Towers Office Building in Memphis
MEMPHIS, TENN. — Cushman & Wakefield | Commercial Advisors has brokered the sale of Poplar Towers, a 100,943-square-foot office building located at 6263 Poplar Ave. in Memphis. Landon Williams and Katie Hargett of Cushman & Wakefield | Commercial represented the sellers, an entity doing business as Poplar Towers Office Center LLC and private investor Brett Kaye, in the transaction. Brian Califf of NAI Saig represented the buyer, Gregory Realty GP. The sales price was not disclosed. The Class B office building is situated in the East Memphis submarket. According to LoopNet Inc., Poplar Towers spans 11 stories, features 258 surface parking spots and was built in 1973.
CHICAGO — Interra Realty has brokered the sale of a 30-unit multifamily property in Chicago’s Uptown neighborhood for $5 million. Built in 1927 and renovated in 2014, the asset at 5051 N. Kenmore Ave. was fully leased at the time of sale. Joe Smazal of Interra represented the buyer, East Superior Real Estate Partners, and the seller, an East Coast-based investment company. The buyer assumed the property’s existing mortgage, which carries an interest rate below current market levels.
GREENVILLE, WIS. — NAI Pfefferle has negotiated the sale of a 31,225-square-foot office building in Greenville, about 35 miles southwest of Green Bay. The sales price was undisclosed, but the asking price was $1.9 million. Amy Oelhafen of NAI Pfefferle brokered the sale of the property, which is located on Aerotech Drive.
ST. CHARLES, ILL. — Lee & Associates has brokered the $1.2 million sale of a 10,696-square-foot industrial building in the western Chicago suburb of St. Charles. Andrew Block of Lee & Associates represented the buyer, Labels & Specialty Products. The transaction marks the buyer’s second facility in St. Charles. Michael Marconi and Mark Kaplarevic of Transwestern represented the seller, Voestalpine Eifeler Coatings.
SEATTLE — Washington Federal Bank, the wholly owned subsidiary of WaFd Inc. (NASDAQ: WAFD), has consummated the sale of approximately $2.8 billion of multifamily commercial real estate loans to Bank of America, which in turn is selling the loans to funds managed by Pacific Investment Management Co. The sale of the multifamily loans was executed at no loss to WaFd and provides immediate liquidity, according to the seller. The packaged loans all came from WaFd’s acquisition of Luther Burbank Savings in March. The sale of the CRE loans was not a condition of the merger.
SEATTLE — Kidder Mathews has negotiated the sale of Uptown Queen Anne Apartments, a mid-rise multifamily property at 315 First Ave. W. in Seattle. The seller, which originally developed the building in 2001, sold the asset to Trinity Real Estate for $19.9 million, or $331,000 per unit. Situated in the Queen Anne neighborhood, Uptown Queen Anne Apartments features 60 apartments and two commercial spaces. Jerrid Anderson and Winslow Lee of the Simon and Anderson team, a multifamily investment team based at Kidder Mathews’ Seattle headquarters, represented the seller in the off-market transaction.
NORTH PLAINS, ORE. — Colliers has arranged the completion of a 10-year lease agreement with DB Schenker, as the tenant, and the forward sale of North Plains Logistics Center to STAG Industrial Holdings. Far West Fibers sold the asset for an undisclosed price. Situated on 10.5 acres in North Plains, located within Oregon’s Silicon Forest submarket just west of Portland, North Plains Logistics Center features 201,750 square feet of industrial space. Jerry Matson and Colin Russell of Colliers, along with West Industrial Capital Markets’ Michael Kendall and Gian Bruno, represented the seller in the deal. Matson and Cole Hooper of Colliers represented tenant, DB Schenker, in the site selection and lease negotiations. Matson and Russell also represented the landlord in lease negotiations.