PUYALLUP, WASH. — Los Angeles-based Hyperion Realty Capital, formerly known as Portal Investment Management, has purchased Meridian Place Shopping Center in Puyallup. Terms of the transaction were not released. Built in 1979, Meridian Place offers 127,429 square feet of retail space. Current tenants include Grocery Outlet and Michaels. Sean Tufts and Kevin Adatto of CPX handled the deal.
LAS VEGAS — Avison Young has brokered the purchase of a medical office property located at 6070 S. Fort Apache Road in Las Vegas. AABECK LLC, an entity of Wound Care Experts, acquired the asset from VUELTA, an entity of a pain management group and former tenant, for $3.6 million. Built in 2008, the 10,000-square-foot property features reserved covered parking, a large waiting room, 12 exam rooms, a break room, billing office and two doctors’ offices. The buyer plans to occupy 5,000 square feet of the facility with the remainder available for lease. Barton Hyde of Avison Young represented the buyer, while Kevin Donahoe of Commercial Specialists represented the seller in the deal.
WILMER, TEXAS — An undisclosed American multinational firm that provides apparel, footwear and accessories has signed a 1 million-square-foot industrial lease at Southport Logistics Park in Wilmer, a southern suburb of Dallas. The unnamed tenant will occupy the entirety of Building 3 at the 252-acre development, which is owned by Chicago-based Logistics Property Co. Features of the cross-dock, speculatively built facility include 40-foot clear heights, 354 car parking spaces (expandable to 724) and 164 trailer parking spaces (expandable to 197). Seth Kelly, Dan Estes and Nathan Lawrence of CBRE represented the tenant in the lease negotiations. Kacy Jones and John Hendricks, also with CBRE, represented Logistics Property Co.
NORMAN, OKLA. — Marcus & Millichap has arranged the sale of Cambridge Mini Storage, a 754-unit self-storage facility in Norman, located south of Oklahoma City. The facility totals 87,700 net rentable square feet. Bryan Quaschnick, Brandon Karr and Danny Cunningham of Marcus & Millichap represented the locally based seller in the transaction and procured a Dallas-based private partnership as the buyer. Both parties requested anonymity.
SHERMAN, TEXAS — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Homestead of Sherman, a 132-bed skilled nursing facility in Sherman, approximately 65 miles north of Dallas. The community spans 39,211 square feet and sits on five acres. A Dallas-based private partnership sold the property to a Fort Worth-based owner-operator for an undisclosed price. Matthew Alley and Ryan Saul of SLIB brokered the deal.
HURST, TEXAS — Texas-based investment firm SPI Advisory has acquired Park Place Apartments, a 120-unit multifamily complex located in the northern-central metroplex city of Hurst. Built in 1978, the property offers one- and two-bedroom units and amenities such as a pool, tennis court, basketball court and outdoor grilling and dining areas. The seller and sales price were not disclosed. SPI Advisory plans to implement a value-add program.
KATY, TEXAS — CarSquad, a sister brand of Florida-based preowned car dealership Off Lease Only, has opened a 21,000-square-foot lot at the northwest corner of I-10 and U.S. Highway 99 in the western Houston suburb of Katy. The dealership houses an array of cars, trucks, vans and sport utility vehicles and also features kiosks on the sales floor. CarSquad built the facility but leased the land from Smithco. CBRE negotiated the ground lease.
BOSTON — CBRE has arranged the $514 million sale of a portfolio of 65 hotels totaling 7,865 rooms. The portfolio spans 27 states and numerous operating brands, including 14 Sonesta Simply Suites, 32 Sonesta ES Suites and 19 Sonesta Select hotels. The Midwest represents the largest segment of the portfolio with 20 hotels totaling 2,374 rooms, and the Northeast is second with 18 hotels totaling 2,347 rooms. Massachusetts-based REIT Service Properties Trust sold the assets to 21 separate buyers that mostly consist of family offices and private equity firms. Al Calhoun and Mark Fair of CBRE brokered the deal.
PARSIPPANY, N.J. — New York Life has provided a $146.6 million construction loan for The District at 15fifteen, a 498-unit multifamily project that will be located in the Northern New Jersey community of Parsippany. The three-building development will include 58,866 square feet of retail space and 1,062 parking spaces. The amenity package will comprise a pool, rooftop lounge, fitness center, conference center and sport simulator rooms. John Alascio, Chuck Kohaut, T.J. Sullivan and Meredith Donovan of Cushman & Wakefield arranged the floating-rate loan on behalf of the borrower, a joint venture between Claremont Development, Stanbery Development Group and PCCP.
SOUTH BRUNSWICK, N.J. — Locally based developer Woodmont Industrial and Denver-based EverWest Real Estate Investors are underway on a 210,000-square-foot expansion and renovation project in South Brunswick, about 50 miles south of Manhattan. The partnership will renovate a 145,000-square-foot facility at 461 Ridge Road and develop a new, 65,000-square-foot facility. Upon completion, which is slated for this summer, the property will feature a clear height of 32 feet, 30 loading doors and four drive-in doors. Bussel Realty Corp. is marketing the property for lease.
