WEST VALLEY, CALIF. — Red Mountain Group has completed the disposition of a four-tenant retail property located in West Valley. An undisclosed buyer acquired the asset for $2.1 million. At the time of sale, the 6,764-square-foot property was fully leased to Tellica Imaging, Allstate Insurance, Metro by T Mobile and a nail salon. Dave Lucas of CP Partners Commercial Real Estate represented the seller in the deal.
GREENWOOD, S.C. — An affiliate of Phoenix Investors has purchased the Fujifilm North American Campus in Greenwood, which has been home to Fujifilm Manufacturing U.S.A. Inc. since 1988. The 11-building property spans more than 2.7 million square feet over 500 acres. Fujifilm has leased back approximately 50 percent of the campus from the buyer and plans to keep over 300 employees at the site for manufacturing and administrative purposes. Phoenix Investors plans to market approximately 1.4 million square feet of space for lease to new tenants. James Medbery, Doug Faris and Shaun Kirchin of Binswanger brokered the transaction. The sales price was not disclosed.
BOCA RATON, FLA. — Cushman & Wakefield has arranged the $92 million refinancing of Aura Boca, a recently completed, 322-unit apartment community located at 789 W. Yamato Road in Boca Raton. MetLife Investment Management provided the fixed-rate loan on behalf of the borrower, institutional investors advised by J.P. Morgan Global Alternatives. Steven Kohn, Alex Hernandez, Alex Lapidus and Chris Meloni of Cushman & Wakefield arranged the loan. Amenities at Aura Boca include a fitness center, pool with waterfall, tanning ledge, Jacuzzi, private cabanas, enclosed bicycle storage and an onsite parking garage.
SUMMERVILLE, S.C. — Frampton Construction has delivered a 204,000-square-foot speculative industrial facility within Portside Distribution Center in Summerville, about 25 miles northwest of Charleston via I-26. Randolph Development is the developer of the facility, the second building within the industrial park. Colliers is leasing the property for lease. The rear-load, tilt-wall facility features clear heights of 32 feet, 38 dock doors, four drive-in doors, 142 car parking spaces and 52 trailer parking spaces. The design-build team includes civil engineer Thomas & Hutton and architect McMillan Pazdan Smith.
NEW ORLEANS — Cronheim Mortgage has secured an undisclosed amount of acquisition financing for The California Building in downtown New Orleans. Originally an office building, the property has been converted to Class A multifamily, with units leased as a combination of both multifamily and short-term rentals due to the building’s advantage of holding a hotel license. The sponsor, Servio Capital, plans to convert the building to condos and sell units to both short-term rental investors and owner-occupants. An undisclosed lender provided the loan, which was underwritten at 75 percent loan-to-cost. The California Building is located adjacent to the French Quarter, Superdome and Tulane Medical Center.
TAMPA, FLA. — SRS Real Estate Partners’ National Net Lease Group has brokered the $3.8 million sale of a 2,500-square-foot, single-tenant retail property in Tampa that is occupied by Starbucks Coffee. Located at 4418 W. Gandy Blvd., the property was recently developed and is under a 10-year corporate-guaranteed lease. The store is situated on a one-acre site and features a drive-thru. Patrick Nutt, William Wamble and Daniel Becker of SRS represented the seller, Alliant Partners LLC, in the transaction. The buyer was a South Florida-based private investor that was in a 1031 exchange and paid all-cash for the asset.
ARLINGTON, TEXAS — The Dallas Cowboys are planning approximately $295 million in renovations to AT&T Stadium, according to reports from multiple sports media outlets, including Sports Business Journal (SBJ), which originally broke the news. Nicknamed “Jerry World” after Cowboys owner Jerry Jones, the complex originally opened in 2009 and seats approximately 100,000 fans. SBJ reports that the project is designed to enhance certain seating areas and upgrade select pieces of technological infrastructure. In addition to Cowboys games, AT&T Stadium annually hosts college football’s Big 12 Championship and Cotton Bowl and will also be one of the North American host venues for the 2026 World Cup.
SPRING, TEXAS — Dallas-based investment firm Civitas Capital Group has acquired Cypresswood Apartments, a 287-unit multifamily community located north of Houston in Spring. The newly built, garden-style property sits on 12.2 acres and offers one-, two- and three-bedroom units, according to Apartments.com. Amenities include a pool, fitness center, clubhouse, playground, basketball court and a dog park. Houston-based Fidelis Realty Partners sold the property for an undisclosed price.
MANOR, TEXAS — Avison Young has arranged the sale of a multifamily development site in Manor, a northeastern suburb of Austin, that is approved for the construction of 200 units and 20,000 square feet of retail space. The 13.2-acre site is located within the 200-acre Las Entradas master-planned development. John Baird, Michael Kennedy and Sullivan Johnston of Avison Young represented the seller, Las Entradas Development Corp., in the transaction. Gilles Ghez of DH Realty Partners represented the buyer, Maryland-based DD&B Construction.
KILLEEN, TEXAS — Dallas-based brokerage firm The Multifamily Group (TMG) has negotiated the sale of Ashton Park, a 148-unit apartment complex located in the Central Texas city of Killeen. According to Apartments.com, the property was built in 1974 and features studio, one- two- and three-bedroom units, as well as a pool, fitness center, tennis court and a basketball court. Paul Yazbeck of TMG represented the seller, and Chase Davis of TMG procured the buyer. Both parties requested anonymity.