MESA, ARIZ. — A joint venture that Crow Holdings Capital manages has purchased The Shops at Sossaman, a neighborhood shopping center in Mesa. Abington Emerson Investments sold the asset for $8.1 million. Built in 2002, The Shops at Sossaman features 34,151 square feet of retail space. At the time of sale, the property was fully occupied by a variety of tenants, including Banner Health Physical Therapy, East Valley Pet Urgent Care, Empower Academy and Crave Pizza. The asset is located at 7641 E. Guadalupe Road. Steve Julius, Jesse Goldsmith and Chase Dorsett of Newmark represented the buyer and seller in the deal.
MARANA, ARIZ. — Gantry has secured a $7.8 million permanent loan to refinance 26,387 square feet of retail space within The Shoppes at Continental Ranch at 9110-9150 Silverbell Road in Marana, a suburb of Tucson. Tony Kaufmann and Alex Poulos of Gantry arranged the financing for the borrower, a California-based retail developer. The 10-year permanent loan features a fixed rate locked at application and a 30-year amortization schedule. The retail space includes an inline strip and four pad buildings. An independently owned Safeway grocery store shadow anchors the property. Current tenants include a mix of national and local dining, professional services and essential retailers.
DALLAS — Partners Real Estate has negotiated a 13,410-square-foot industrial lease in the Dallas Design District. According to LoopNet Inc., the single-tenant property at 2050-2062 Irving Blvd. was built in 1952 and renovated earlier this year. Building features include 14-foot clear heights and two drive-in bays. Hanes Chatham Jr. of Partners represented the landlord, an entity doing business as 2050 Irving Blvd., in the lease negotiations. DeAnna Green of Nydan Group represented the tenant, The Blueprint University.
LOS ANGELES — Marcus & Millichap has arranged the sale of 2900 Francis Avenue, a multifamily property located in Los Angeles’ Koreatown neighborhood. An undisclosed seller sold the asset to a private investor for $2.2 million, or $225,000 per unit. Jason Tuvia and Joshua Yeager of Marcus & Millichap represented the seller and secured the buyer in the transaction. Built in 1922, the value-add property features 10 one-bedroom/one-bath apartments that are subject to Los Angeles’ rent control laws.
STRASBURG, COLO. — Trevey Commercial Real Estate has arranged the sale of an office and retail property located at 1477 Main St. in Strasburg, a small town approximately 30 miles east of Denver. Maverick Holdings LLC sold the building to Strasburg Management Group for $1.3 million. Situated on 0.2 acres, the freestanding, owner-user building features 7,793 square feet of office and retail space. Heath Honbarrier and Nick Beach of Trevey Commercial Real Estate represented the seller, while Matt Trone of Cushman & Wakefield represented the buyer in the deal.
DENVER — NorthPeak Commercial Advisors has negotiated the sale of an office building located at 1638-1640 Logan St. in Denver. The asset traded for $1.2 million, or $221 per square foot. The undisclosed buyer plans to add a coffee shop to the first floor of the 5,657-square-foot building and keep the existing office tenants on the upper floors. Joe Hornstein and Scott Fetter of NorthPeak Commercial Advisors represented the undisclosed seller in the deal.
MISSOURI CITY, TEXAS — CoCo Bella Beauty Supply will open a 12,530-square-foot store at Fort Bend Town Center, a 144-acre retail development by NewQuest Properties in Missouri City, roughly 20 miles southwest of Houston. Bob Conwell and Andrew Alvis represented NewQuest on an internal basis in the lease negotiations. Joanna Temple Johnston of Temple Commercial Realty represented Coco Bella. The opening is slated for February.
PLANO, TEXAS — Cybersecurity firm Intrusion has signed a 10,705-square-foot office lease at Plano Tower, a 225,445-square-foot building located on the northern outskirts of Dallas. The building houses amenities such as a recently upgraded lobby and conference center, as well as a fitness center and a deli. Chris Mathis of Newmark represented the tenant in the lease negotiations. Boxer Property Group owns the building.
FARMERS BRANCH, TEXAS — Toshiba America Business Solutions Inc. has renewed its lease for 9,569 square feet of industrial flex space at 4350 Spring Valley Road in the northern Dallas metro of Farmers Branch. Jason Finch of Bradford Commercial Real Estate Services represented the landlord, an entity doing business as SB Tech Center LLC, in the lease negotiations. Brooke Benedict of Colliers represented the tenant.
ARLINGTON HEIGHTS, ILL. — Housing Trust Group (HTG) has opened Crescent Place, an $18.2 million affordable housing community in the Chicago suburb of Arlington Heights. The community marks HTG’s entry into the Illinois market. HTG developed the property in partnership with nonprofit developer Turnstone Development Corp. Crescent Place offers 40 units that are reserved for residents who earn up to 60 percent of the area median income. Monthly rents range from $621 to $1,489, while units range from 646 to 880 square feet. Amenities at the four-story development include a community room, library, computer café, fitness room, resident garden, outdoor patio, tenant storage compartments, bicycle storage and 80 outdoor parking spaces. Funding for Crescent Place included a $10.9 million construction loan and a $1.6 million permanent loan from BMO Harris Bank; $12.1 million in 9 percent Low Income Housing Tax Credit equity from National Equity Fund; $4 million from the COVID-19 Affordable Housing Grant Program provided by the Illinois Housing Development Authority; and a $110,214 ComEd grant for building according to Energy Star efficient standards. The project team included general contractor Henry Bros Co., civil engineer Groundwork, landscape architect Krogstad Land Design, architect UrbanWorks Architecture, interior designer Frosolone Interiors, …