DALLAS — Locally based brokerage firm Holt Lunsford Commercial has negotiated a 100,000-square-foot industrial lease in West Dallas. According to LoopNet Inc., the building at 8611 Ambassador Row was built in 1955. Canon Shoults and Maddy Canty of Holt Lunsford represented the owner, Toronto-based Oxford Properties, in the lease negotiations. Cameron Rogers of Rubicon Representation represented the tenant, Nelson Cos. Ones LLC.
RICHARDSON, TEXAS — Newmark has brokered the sale of Spring Creek Business Park, a 52,456-square-foot industrial property in the northeastern Dallas suburb of Richardson. According to LoopNet Inc., the building at 1111 Digital Drive was constructed on 3.6 acres in 1983 and features 18-foot clear heights. Sara Fredericks of Newmark represented the seller, Adima US LLC, in the transaction. Morgan Realty Group represented the buyer, an entity doing business as BBE Phoenix Fund LP.
LONG BEACH, CALIF. — California State University, Long Beach (CSULB) has broken ground on La Playa Residence Hall, a 108,000-square-foot student housing project in Long Beach, located on the coast south of Los Angeles. Designed by Perkins&Will, the project is part of the State of California’s Higher Education Student Housing Grant Program, which aims to increase below-rate rental options for students living on campus. La Playa Residence Hall will add 424 beds to CSULB’s Hillside Housing village. The $115 million project will consist of three five-story buildings each surrounded by outdoor amenities, including patios, dining areas, a welcome plaza and central lawn. Upon completion, the community will offer a mix of single- and double-occupancy student rooms with lounges, study areas and maintenance facilities on every floor. Each building will feature a kitchen on the ground floor, three apartments for staff or faculty, a 2,000-square-foot multipurpose room and music practice rooms. Additionally, the residence hall will feature two dedicated offices that will expand the University’s Counseling and Psychological Services program to provide support for students in need. Completion is slated for summer 2026, with first occupancy for students for 2026 fall semester.
SAN DIEGO — Wells Fargo’s Community Lending and Investment (CLI) group has provided a total of $57.9 million in financing for construction of La Sabila, an affordable housing community for seniors in San Diego. The borrower is Wakeland. CLI provided a $30.5 million construction loan and $27.4 million equity investment. The project will consist of 85 residential units reserved for low-income residents over age 55. Further details were not disclosed. Timothy McCann, Terence Cordero and Jessica Gonzalez of CLI arranged the financing.
CERES, CALIF. — Marcus & Millichap has arranged the sale of The Vineyard, an apartment property in Ceres, a suburb of Modesto. The asset traded for $32.6 million, or $153,774 per unit. Jon Mimms of Marcus & Millichap’s Fresno office represented the undisclosed seller and undisclosed buyer in the deal. Built in 1979, The Vineyard features 212 apartments, averaging 671 square feet, with open floor plans, large kitchen pantries and central heating and air conditioning. Community amenities include two swimming pools, five laundry rooms, covered parking, pathways and a walking and jogging trail.
HUMBLE, TEXAS — SRS Distribution Inc. has signed a 52,015-square-foot industrial lease in the northern Houston suburb of Humble. According to LoopNet Inc., the building at 19054 Kenswick Drive was built on 6.6 acres in 2011, and the lease is for the entirety of the property. Robert Alinger and Wes Williams of Colliers represented the landlord, Bertling Logistics, in the lease negotiations. Sarah Pickup and Will Clay of JLL represented the tenant.
ELK CITY AND ENID, OKLA. — Marcus & Millichap has arranged the sale of two retail properties that are net leased to urgent care clinics in Oklahoma for a combined price of $4.7 million. The facilities, both of which are operated by Xpress Wellness, are located in Elk City and Enid, about 100 miles west and north of Oklahoma City, respectively. Dominic Sulo and Benjamin Bach of Marcus & Millichap represented the seller and procured the buyer, both of which were undisclosed limited liability companies, in the transactions.
GILBERT, ARIZ. — Berkadia has arranged the sale and financing of Cambria, a garden-style multifamily community in Gilbert, southeast of Phoenix. Utah-based Bridge Investment Group Holdings sold the asset to a California-based private investor for an undisclosed price. Mark Forrester, Ric Holway, Dan Cheyne and Andrew Curtis of Berkadia Phoenix represented the seller in the transaction. Vincent Punzi and Lowell Takahashi of Berkadia Irvine, Calif., secured $31.5 million in permanent acquisition financing on behalf of the buyer. Cambria features 174 apartments, averaging 1,022 square feet per unit, with direct-access attached garages, nine-foot ceilings, side-by-side washers/dryers and a full slate of amenities.
PEORIA, ARIZ. — NAI Horizon has brokered the purchase of an industrial building located at 10857 N. 9th Ave. in Peoria, a suburb northwest of Phoenix. Glez C Properties LLC acquired the asset from Chris Finn for $9.5 million. The buyer plans to expand its construction and asphalt company, Gonzalez Asphalt, into the 81,060-square-foot, Class B warehouse facility, which was built in 2005. Jeffrey Garza Walker and Art Verdugo of NAI Horizon represented the buyer, while Gary Cornish of Newmark and Geoffrey Turbow of CBRE represented the seller in the deal. Eric Nutt of Commonwealth Title also helped facilitate the transaction.
Kraus-Anderson Begins $41.5M Expansion of Trillium Woods Retirement Community in Plymouth, Minnesota
PLYMOUTH, MINN. — Kraus-Anderson has begun a $41.5 million expansion of Trillium Woods, an independent retirement community in Plymouth, a western suburb of Minneapolis. Trillium Woods is a Life Plan Community that provides wellness services and levels of senior healthcare, including memory care, skilled nursing and rehabilitation. The 160,321-square-foot, five-story expansion calls for 18 assisted living units, 16 assisted living memory care units, 52 independent living units and 67 underground parking spaces. Construction is slated for completion in fall 2025. Pope Design Group was the architect.