COLORADO SPRINGS, COLO. — Pinnacle Real Estate Advisors has arranged the sale of an apartment portfolio in Colorado Springs. The assets traded for $16.5 million. Totaling 120 apartments, the properties are located at 1429 Potter Drive and 3950-3960 Galley Road. Mike Krebsbach of Pinnacle Real Estate Advisors represented the undisclosed seller and buyer in the transaction.
MORENO VALLEY, CALIF. — Ledo Capital Group has received $13.4 million in refinancing for District Moreno Valley, a shopping center in Moreno Valley. Completed in 2022, District Moreno Valley features 52,081 square feet of retail space. Current tenants include Sprouts Farmers Market, KFC, The Joint Chiropractic, WSS and Starbucks Coffee. Matt Stewart, Chris Jaff and Daniel Skerrett of JLL Capital Markets Debt Advisory secured the financing through Manufacturers Banks for the borrower.
CHINO VALLEY, ARIZ. — Marcus & Millichap has brokered the sale of a retail building located at 89 West Road 2 in Chino Valley. A limited liability company sold the property to another limited liability company for $3.1 million. Sherwin-Williams occupies the 4,500-square-foot property, which was built in 2022, on a net-leased basis. Mark Ruble and Chris Lund of Marcus & Millichap represented the seller and procured the buyer in the deal.
DENVER — NorthPeak Commercial Advisors has arranged the sale of an apartment complex located at 551 S. Fairfax St. in Denver. The 13-unit asset traded for $2.3 million, or $180,769 per unit. The names of the seller and buyer were not released. Hunter Schaefer, Jack Sherman and Dan Hawthorne of NorthPeak Commercial represented the buyer and seller in the deal.
PARKER, COLO. — Blue West Capital has brokered the acquisition of a single-tenant ground lease located at 9560 Twenty Mile Road in Parker. A Denver-based 1031 exchange investor acquired the asset from an Arizona-based development company for $2.1 million. Murphy Express occupies the site on a 20-year corporate ground lease that features 10 percent rental increases every five years and zero landlord responsibilities. Murphy Express (NYSE: MUSA) is the sixth largest convenience store chain in the United States with more than 1,500 locations. Brandon Gayeski of Blue West Capital represented the buyer in the transaction.
AUSTIN, TEXAS — Dallas-based investment firm Baranof Holdings has purchased a 1,041-unit self-storage facility in Austin. The site offers frontage along I-35 on the city’s north side. Pennsylvania-based REIT CubeSmart manages the facility, which comprises 100,417 net rentable square feet of climate-controlled space and was 90 percent occupied at the time of sale. Nick Walker and Nate Holash led a CBRE team that represented the seller, global investment firm KKR, in the transaction.
IRVING, TEXAS — Dallas-based investment firm CanTex Capital has acquired three industrial buildings totaling 313,626 square feet in Irving. The buildings are situated on a 50.9-acre site and were fully leased at the time of sale. Chase Miller of NAI Robert Lynn represented CanTex Capital, which purchased the assets from an undisclosed institutional investment firm, in the transaction.
HOUSTON — California-based brokerage firm Hanley Investment Group Real Estate Advisors has negotiated the sale of Northwest Crossing Centre, a 180,000-square-foot shopping center in Houston. The property was built on 20 acres in 1993. At the time of sale, Northwest Crossing Centre was 94 percent leased to tenants such as Burlington, Dollar Tree, Marshalls, Planet Fitness, Hibbett Sports, pOpshelf, Chick-fil-A, James Coney Island, Red Lobster and Whataburger. Kevin Fryman and Ed Hanley of Hanley Investment Group, in conjunction with ParaSell Inc., represented the seller, San Diego-based USA Properties Inc., in the transaction. The buyer was Houston-based Wu Properties.
ARLINGTON, TEXAS — Quality Honeycomb, a supplier of aircraft parts, has signed a 60,000-square-foot industrial lease at 624 107th St. in Arlington. According to commercialcafé.com, the single-tenant property was built on three acres in 1970. Scott Voelkel of Dickey Property Co. represented the tenant in the lease negotiations. Mark Graybill of Lee & Associates represented the undisclosed landlord.
PLANO, TEXAS — Stream Realty Partners has arranged the sale of a two-story, vacant building in Plano that consists of 30,066 square feet of office space and a 7,640-square-foot basement showroom. Jamie Jennings and Ryan Evanich of Stream represented the seller, an entity doing business as Hacienda Care V LP, in the transaction. Pam Goodwin of Goodwin Advisors LLC represented the buyer, Peacock Point LLC, which also plans to occupy the building.
