LUMBERTON, N.C. — Legacy Realty Group Advisors has arranged the $7.1 million sale of Northeast Plaza, a 53,867-square-foot shopping center in Lumberton. Built in 2000, the property was leased to 10 tenants at the time of sale. Jacob Baruch of Legacy represented the undisclosed seller in the transaction. Lisa Schaefer of LRS Management represented the buyer.
MANOR, TEXAS — Newmark has negotiated a 105,840-square-foot industrial lease in Manor, a northeastern suburb of Austin. The tenant, Ultra Clean Technology Systems & Service Inc., will occupy space at Crossroads Logistics Center. Phase I of the development, construction of which is underway, will consist of three buildings totaling approximately 483,000 square feet. Joshua LaFico of Newmark represented the tenant in the lease negotiations. JLL represented the landlord, an affiliate of HPI Real Estate Services. Crossroads Logistics Center will total roughly 1.1 million square feet at full buildout.
RHOME, TEXAS — HASA Inc., a provider of industrial water treatment products, has signed a 33,550-square-foot lease at 114 Industrial Park, a 174-acre development in Rhome, about 25 miles north of Fort Worth. Owned by Dallas-based Realty Capital, 114 Industrial Park currently offers 150,000 square feet of shallow-bay industrial space, with a 136,500-square-foot building also under construction. Mark Boone internally represented Realty Capital in the lease negotiations. James Ewing of Colliers represented the tenant.
HOUSTON — Locally based brokerage firm The Blue Ox Group has arranged the sale of Centre at Oak Park, a retail strip center located in Houston. According to LoopNet Inc., the center was built in 2016 and totals 9,200 square feet. Tenants at the property include Jimmy Johns and Smart Financial Credit Union. Burdette Huffman of Blue Ox represented the seller in the transaction. Gigi Wenjie Wang of The Sunet Group represented the buyer. Both parties requested anonymity.
SAN FRANCISCO — BH Properties has acquired Anchorage Square, a 322,000-square-foot mixed-use property located in Fisherman’s Wharf in San Francisco. The seller and price were not disclosed. Built in 1974 and situated on 2.6 acres, the development features 63,000 square feet of retail space, as well as a 128-room hotel, 28,000 square feet of office space and a 685-space parking garage. The buyer plans to implement an extensive capital improvement program, which will include upgraded façades, landscaping, lighting, signage, wayfinding and tenant and common areas. The firm will also explore alternative uses for the office space such as restaurant and entertainment options. Eastdil Secured brokered the transaction, and Laura Barr of CBRE will lead the repositioning and leasing efforts at the property.
GREAT FALLS, MONT. — Community Preservation Partners (CPP) has acquired two affordable seniors housing communities in Great Falls: Sunshine Village and Broadview Manor East & West. CPP plans to renovate both properties, and has partnered with The Hampstead Cos., which will be the owner and co-developer. This is the second project closing in Montana for CPP and Hampstead together, totaling three communities in the area. CPP and Hampstead’s total development investment is approximately $23.1 million, which includes the purchase price of $10.8 million and an estimated renovation cost of $72,850 per unit. The properties’ HUD subsidy was set to expire, but with CPP and Hampstead’s involvement the homes will now remain affordable and prevent displacement of residents earning up to 50 percent and 60 percent of the area median income (AMI) until 2074. “New affordable housing developments in the Great Falls area have significant waitlists, so the preservation and modernization of the existing affordable housing stock is important to the residents of this community,” says Karen Buckland, vice president at CPP. Built in 1979, Sunshine Village features 72 one- and two-bedroom units in a single three-story building. Also built in 1979, the Broadview Manor properties offer three- and four-bedroom units. …
TUSTIN, CALIF. — Stos Partners has sold a high-tech manufacturing property in Tustin to KTI Hydraulics for $26.5 million. Stos Partners originally acquired the asset in December 2021 for $19.2 million. The company implemented a value-add strategy and capital improvement program, including a new roof, parking lot, exterior painting, landscaping and interior improvements, at the 71,616-square-foot property. The property is located at 1311 Valencia Ave. within the Irvine Business Complex. The building features excess yard area, ample parking ratio, high-end cleanroom space with a mix of office and warehouse space, and on-site electric vehicle charging stations. Nick Valasquez and Michael Hartel of Colliers, along with Ross Bournce of CBRE, represented Stos Partners. Xavier Nolasco and Steve Wagner of JLL represented the buyer in the transaction.
PHOENIX — Atlanta-based RADCO Cos. has purchased Aloft Phoenix-Airport, a six-story hotel located at 4450 E. Washington St. in Phoenix. Terms of the transaction were not released. RADCO plans to renovate the 143-room hotel, which is located across the street from the airport Sky train station and the light rail station that provides immediate access to downtown Phoenix and Tempe. Bill Murney of Cushman & Wakefield’s Hospitality team in Phoenix represented the undisclosed seller in the deal.
LOS ANGELES — JLL Capital Markets has arranged $16.7 million construction take-out financing for The Hobart, a mid-rise multifamily property in the Koreatown submarket of Los Angeles. Chris Collins and Brad Vansant of JLL Capital Markets’ debt advisory team secured the two-year, floating-rate loan for the borrower, Jannone Development. Built in 2023, the community features 39 one-, two- and three-bedroom floor plans ranging from 877 square feet to 1,424 square feet. The property is located at 3050 W. 11th St.
CHICAGO — Greystar Real Estate Partners LLC has opened One Six Six, a 223-unit luxury apartment building rising 21 stories in Chicago’s Fulton Market district. The developer is hosting a grand opening celebration Thursday, Aug. 10 with local businesses such as Goddess and the Grocer, Levain Bakery, Pour Souls Cocktail Club, Dipsy Desserts and Tucker Pups. Local band The Holy Cows will provide live music and entertainment. Located at 166 N. Aberdeen St., One Six Six features studio, one- and two-bedroom floor plans along with three-bedroom penthouses. The building features a third-floor amenity level with an indoor private dining room, coworking space, entertainment lounge and fitness center. The 5,650-square-foot outdoor area includes a pool and spa, outdoor kitchen, lounge areas and a dog agility course. The 14th-floor sky garden features an outdoor lounge with a beverage station and views of the city. Monthly rents start at $2,040. Residents can now earn up to two months of free rent, according to the property’s website. The property has earned two Green Globes, part of a certification system developed by the Green Building Initiative that evaluates environmental sustainability, health and wellness and resilience of all types of commercial real estate.
