LEANDER, TEXAS — Marcus & Millichap has brokered the sale of The Shops at Leander, a 37,233-square-foot retail center located on the northern outskirts of Austin. The center comprises four buildings on a 3.2-acre site that are home to tenants such as DaVita, Domino’s Pizza and Bahama Buck’s. Coleman Solomon and Philip Levy of Marcus & Millichap represented the seller, The Kalantari Group, in the transaction and procured the buyer, an Alabama-based investor.
GRAND PRAIRIE, TEXAS — One World Energy LLC, a provider of renewable power solutions, has signed a 10,146-square-foot lease at Carrier Place, an industrial flex building located in the central metroplex city of Grand Prairie. According to LoopNet Inc., the building was completed in 1984 and totals 84,431 square feet. Jim Ferris of Bradford Commercial Real Estate Services represented the tenant in the lease negotiations. Walker Floyd and Maddy Coffman of Holt Lunsford Commercial represented the landlord.
MORRISTOWN, N.J. — JLL has arranged $96.5 million in financing for a portfolio of six industrial properties totaling 773,433 square feet in Northern New Jersey. The addresses of the properties were not disclosed, but the facilities are located within the Meadowlands and Port of Newark/Elizabeth submarkets. Jim Cadranell, Gregory Nalbandian and Michael Lachs of JLL arranged the loan through an undisclosed life insurance company on behalf of the borrower, Seagis Property Group. The portfolio was fully leased at the time of the loan closing to nine tenants in industries such as logistics, food production and distribution, fashion/apparel manufacturing and packaging/materials.
NEW YORK CITY — A partnership between Ailanthus, BEB Capital and SK Development is nearing completion of a 187-unit multifamily project in Brooklyn’s Sunset Park neighborhood. Designed by dencityworks | architecture with interiors by Alchemy Studio, the 14-story building at 201 East 25th St. will be known as One Sunset. Residences will come in one-, two- and three-bedroom floor plans, with 46 units reserved as affordable housing. Amenities will include a fitness center, game/media room, coworking lounge, private dining/entertainment areas and a rooftop garden. Completion is slated for the fall.
TACOMA, WASH. — Phillips Edison & Co. has acquired Westgate North, a retail center in Tacoma. Located at 2601 N. Pearl St., Westgate North offers 74,789 square feet of retail space that is 97.9 percent leased to a mix of national and local tenants. Westgate North is shadow-anchored by Safeway. Other major tenants include Ace Hardware, Taco Bell, Chase Bank, Franciscan Health System and Anytime Fitness. Gleb Lvovich, Geoff Tranchina and Daniel Tyner of JLL Capital Market’s Investment Sales and Advisory team represented the undisclosed seller in the deal.
ORANGE, CALIF. — Bailard has completed the disposition of an office property located at 725 West Town and Country Road in Orange. A local buyer acquired the asset for $15.4 million. The five-story, 90,191-square-foot is currently 62 percent leased to 12 tenants. Anthony DeLorenzo, Sammy Cemo, Bryan Johnson and Harry Su of CBRE represented the seller in the transaction.
COLORADO SPRINGS, COLO. — On behalf of the United States Air Force Academy, Bryan Construction has completed Madera Cyber Innovation Center, a cybersecurity training facility for cadets in Colorado Springs. The four-story, 48,800-square-foot facility will be home to Air Force CyberWorx, the Department of Computer and Cyber Science and the Institute of Future Conflict. The facility provides the essential laboratory and workspace environments for cadets engaged in critical disciplines, including cyber engineering, cyber law and cybersecurity forensics. Designed by Clark Nexsen, the facility features a structural glass wall system and a free-floating, self-supporting curvilinear staircase. Construction of project included an extensive communication and technology infrastructure with 29 miles of cabling integrated throughout the facility. Additionally, Madera Cyber Innovation Center meets UFC 4-023-03 standards for progressive collapse resistance.
FULLERTON, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the $12.6 million sale of North Euclid Shopping Center, a 41,219-square-foot shopping center located in the Orange County city of Fullerton. A 21,480-square-foot Stater Bros. Markets formerly anchored the property. The remaining space is fully leased to a barber shop, hair salon, family dentist, chiropractic office, H&R Block and multiple quick-service restaurants. Kevin Fryman, Eric Wohl and Ed Hanley of Hanley Investment Group represented the seller, Anaheim, Calif.-based Kraemer Land Co., and the buyer, an off-market local private investor, in the transaction. Kraemer Land Co. has managed North Euclid Shopping Center for 21 years.
MONTVALE, N.J. — Fulton Bank has provided a $14.9 million construction loan for a 989-unit self-storage project that will be located in the Northern New Jersey community of Montvale. The three-acre site at 21 Phillips Parkway currently houses an 18,500-square-foot office building that will be demolished to accommodate the new climate-controlled facility. Jon Mikula, Michael Klein and John Cumming of JLL arranged the loan, which carries a 42-month term and a floating interest rate, on behalf of the developer, a partnership between Claremont Development, March Development and Battery Global Advisors.
PLACENTIA, CALIF. — Lee & Associates | Orange has arranged the sale of an industrial asset located at 1101 Richfield Road within Miraloma Business Center in Placentia. Davcal sold the property to Chin Kim for $3 million. Originally built in 1991, the 7,492-square-foot warehouse facility features 400 amps, 120/208v, three-phase electrical service; 16-foot minimum warehouse clearance; two ground-level doors; 3,000 square-foot of office space, plus a second-floor office space; and easy access to local freeways. Jameson Hearne, Marshal Vogt and Bryan Miller of Lee & Associates | Orange represented the seller in the deal.