HUNTERSVILLE, N.C. — Trinity Capital Advisors has leased Interchange Logistics Center, a 224,797-square-foot industrial building located in Huntersville, roughly 15 miles north of Charlotte. Orbus Holdings, a lightbox and display manufacturer operating as SEG Systems, will occupy the entire building on a 10-year lease. Construction of the center is scheduled for completion in May, with the tenant upfit to be completed in the fourth quarter of this year. Adam Green of Stream Realty Partners represented Orbus Holdings in the lease negotiations. Spencer Yorke and Brad Cherry of JLL represented ownership.
Property Type
Associated Bank Provides $8.6M Construction Loan for Self-Storage Facility in Spring Hill, Florida
by John Nelson
SPRING HILL, FLA. — Associated Bank has provided an $8.6 million loan to an affiliate of Metro Storage LLC for the construction of a self-storage facility located in Spring Hill. Upon completion, the development will comprise 62,856 square feet across 543 units, 504 of which will be climate-controlled. The property will also feature 83 covered and 31 uncovered RV and boat parking spaces. Edward Notz of Associated Bank’s Commercial Real Estate Division originated the loan.
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.
Ledo Capital Group Receives $13.4M Refinancing for District Moreno Valley Shopping Center in California
by Amy Works
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.
Marcus & Millichap Negotiates Sale of 4,500 SF Retail Property in Chino Valley, Arizona
by Amy Works
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.
Blue West Capital Arranges $2.1M Purchase of Murphy Express-Occupied Asset in Parker, Colorado
by Amy Works
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.