MIDLOTHIAN, VA. — Cushman & Wakefield | Thalhimer’s Capital Markets Group has arranged the $4.9 million sale of Deer Run Village, a 56,900-square-foot shopping center located in Midlothian, roughly 15 miles west of Richmond. Food Lion anchors the property, which was fully leased at the time of sale. Catharine Spangler and Danielle Beckstoffer of Thalhimer represented the undisclosed seller in the transaction. The buyer was also not disclosed.
OCALA, FLA. — Circularix has signed a 67,250-square-foot lease at Airport Logistics Park, an industrial development currently underway at 2675 Southwest 60th Avenue in Ocala. Phase I of the project, which totals 725,400 square feet across three buildings, is now fully preleased. The tenant is scheduled to occupy the space beginning in the first quarter of 2024. Rian Smith, Kris Courier and Josh Tarkow of CBRE represented the landlord, Leon Ocala Holdings IV, in the lease negotiations. The second phase of the project, which is located adjacent to Ocala International Airport, could add up to 400,000 square feet to the property.
RANCHO CUCAMONGA, CALIF. — San Antonio Regional Hospital has acquired a 127,000-square-foot office building in Rancho Cucamonga for $22.2 million. The building is located at 11000 Eucalyptus St. San Antonio Regional Hospital is an Upland-based regional healthcare provider that will convert the asset into medical office space. Graham Gilles of the Hoffman Company represented the buyer in the transaction. Gary Goodgame, Jeremy Dee and Max Browne of Kennedy Wilson Brokerage represented the seller, Mercury Casualty Co.
IRVINE, CALIF. — Wilshire Capital Partners has sold a 70,964-square-foot office building in Irvine to an owner-user for an undisclosed sum. The vacant, Class A building is located at 17900 Von Karman in the Irvine Business District (IBD) submarket. The new owner plans to occupy the property after making renovations. Anthony DeLorenzo, Gary Stache, Bryan Johnson, David Dowd and Jennifer Whittington of CBRE represented the seller in the transaction.
OAKLAND, CALIF. — CBRE has arranged a $15 million loan for the refinancing of Lincoln Square Shopping Center in Oakland. Safeway anchors the property, which comprises three buildings with 14 tenant suites. Other tenants at the center include CVS/pharmacy, Peet’s Coffee, Jamba Juice and the UPS Store. Originally built in 1963, the property underwent extensive redevelopment in 2019. Shaun Moothart, Bruce Francis, Doug Birrell and Bob Ybarra of CBRE arranged the non-recourse, 10-year, interest-only loan on behalf of the borrower, a California-based private retail real estate operating company.
NEWBURY PARK, CALIF. — NEXGEN has acquired a 23,919-square-foot industrial life sciences/laboratory facility in Newbury Park for $6.2 million. The facility is located at 3615 Old Conejo Road within the USA Business Park in the Conejo Valley industrial market. Century 21 represented NEXGEN in the transaction. Matt Ehrlich and Marcos Villagomez of NAI Capital Commercial represented the seller, Dao Bui Holdings. Ehrlich and Villagomez spent more than a year on the project, facilitating the lease termination and departure of the former tenant and assisting as de facto property managers.
SIMI VALLEY, CALIF. — NAI Capital Commercial has brokered the $2 million sale of a 5,708-square-foot restaurant building in Simi Valley. Situated within Woodlands Plaza, Cocos formerly occupied the now-vacant property. The new owner plans to open and operate a breakfast restaurant in the space. Michael Schiff of NAI represented both the buyer, SSA California Properties LLC, and the seller, Barsky Family Limited Partnership, in the transaction.
DALLAS — FTK Construction Services has completed the $19 million rehabilitation of Fairway Village Apartments, a 250-unit affordable housing complex in Dallas that was originally built in 1969. Benton Design Group served as the project architect, and KeyBank provided construction financing. A partnership between Denver-based investment firm Monroe Group and Steele Properties owns Fairway Village. Exterior renovations included new roofs, paint, parking lot pavement, sidewalks and perimeter fencing. Infrastructural upgrades targeted the heating and air conditioning systems, as well as the plumbing and electrical systems. Interior improvements involved updating kitchens with new appliances, cabinets and countertops; enhancing bathrooms with new vanities, toilets and tub surrounds; and adding new flooring, interior doors, windows and fixtures. Lastly, the project team delivered a new community building with a kitchen, computer lab, playground and pavilion and also renovated the leasing and management office.
HOUSTON — Locally based brokerage firm Cypressbrook Co. has arranged the sale of Richmond Design Center, a 25,441-square-foot shopping center in West Houston’s Greenway/Upper Kirby submarket. According to LoopNet Inc., the property was built on 1.6 acres in 1958 and renovated in 2003. John Hornbuckle of Cypressbrook Co. and Rick Hazard of Realty Services Group represented the Seller, America Equifinance Corp., in the transaction. Joe Foty of The Blue Ox Group represented the buyer, HRD Interests.
PASADENA, TEXAS — Locally based brokerage and investment firm Baker Katz has acquired a 22,241-square-foot, retail building that sits on a 2.9-acre site at 5445 Fairmont Parkway in Pasadena, an eastern suburb of Houston. The freestanding building most recently housed a Pep Boys auto parts store. Mark Raines of JLL represented the undisclosed seller in the transaction. Ben Brown represented Baker Katz, which plans to implement a value-add program, on an internal basis.
