HELENA, MONT. — Wood Investments Cos. has secured a $20.3 million permanent loan from Wells Fargo for Helena Skyway Regional Shopping Center. Situated at 2005 Cromwell Dixon Lane, Helena Skyway Regional offers 164,121 square feet of retail space. Current tenants include T.J. Maxx, Ulta Beauty and Hobby Lobby. Sierra Trading Post and Chick-fil-A recently signed leases to occupy space at the property, bringing the asset to 100 percent occupancy.
HIGHLAND, CALIF. — A San Diego-based investor has completed the disposition of a Chevron gas station, ExtraMile convenience store and car wash property located at 27981 Greenspot Road in Highland. G&M Oil Co., the largest Chevron franchisee in California with more than 200 locations, purchased the Highland property for $9.5 million. Victor Buendia of Progressive Real Estate Partners represented the seller, while Scott Olson of C-Store Realty represented the buyer in the all-cash transaction. Built in 2012, the property features an eight-pump Chevron station, a self-service express car wash and a 3,000-square-foot ExtraMile convenience store.
PORTLAND, ORE. — Ethos Commercial Advisors, on behalf of Lombard Equities, has secured $8.5 million in refinancing for Division Apartments in Portland. Totaling 59 units, the property is an assemblage of three separately platted buildings that are immediate adjacent to each other and managed as a single property. Daniel Natsch and Matthew Illias of Ethos Commercial Advisors arranged the interest-only CMBS loan with a five-year term at 70 percent loan-to-value ratio.
LOS ANGELES AND NEW YORK CITY — Standard Communities has acquired a portfolio of 60 affordable housing properties totaling approximately 6,000 units for $1 billion. The transaction is the largest affordable housing acquisition this year, according to the firm. The portfolio includes both traditional multifamily and seniors housing communities and locations across four states, growing the firm’s portfolio in California to 11,000 units and expanding its presence to three new states: Arizona, Colorado and Texas. Properties include the Oaks at Georgetown multifamily community in Georgetown, Texas; Harmony Court, an affordable seniors living community in Redondo Beach, Calif.; and Maroon Creek Apartments in Aspen, Colo. The undisclosed seller developed many of the properties around 2002. Standard plans to invest over $30 million in capital improvements and deferred maintenance across the portfolio. No residents will be displaced during renovations and the communities will remain within the affordable price point, according to the new ownership. An increasing number of households have been designated as “cost burdened” over the past year, leading to a push from policymakers to increase the amount of available affordable housing, according to a recent report by Yardi Matrix. In 2024, 69,600 units are expected to come on line with …
By Mike Homa, R&R Realty Group Five years later and businesses are still adjusting to the new work environment brought on by the COVID pandemic. Omaha’s office space market is seeing a shift in how companies attract employees back into the office. With remote and hybrid work now widely accepted, developers and employers have realized that providing traditional office spaces is no longer enough to entice workers. Instead, they are focusing on creating environments that offer a blend of professional, personal and recreational amenities, transforming office spaces into lifestyle destinations. To make coming to the office more attractive, developers are offering amenities that cater to employees’ holistic needs. In some office parks, facilities such as onsite daycare centers are becoming a reality. These allow working parents the convenience of dropping off their children close to where they work, reducing commute time and providing peace of mind. It’s an amenity that goes beyond the typical office needs, addressing a significant aspect of employees’ personal lives. Green spaces are another amenity we see being increasingly incorporated into the surroundings of new buildings and broader development areas. We see outdoor spaces in office parks like Fountain Ridge Office Park, which offers amphitheater-style seating …
DALLAS — JLL has arranged a loan of an undisclosed amount for the refinancing of a 508,500-square-foot industrial building in East Dallas. Developed by Hillwood in 2007, the rail-served facility at 1201 Big Town Blvd. features 32-foot clear heights, 79 dock doors and three drive-in doors. Trey Morsbach, Jarrod McCabe, Ryan Pollack and Chad Lisbeth of JLL arranged the five-year, fixed-rate loan through PPM America. The borrower was not disclosed. The building was 88 percent leased to two unnamed tenants at the time of the loan closing.
AUSTIN, TEXAS — Minneapolis-based developer United Properties has completed Shelby Ranch, a 302-unit apartment community in South Austin. Shelby Ranch was developed in two phases on an eight-acre site and houses studio, one- and two-bedroom apartments. The amenity package comprises a pool, fitness center, coworking space, resident lounge and a dog park. Belshaw Mulholland Architects designed Shelby Ranch, and OHT Partners served as the general contractor. Rents start at approximately $1,500 per month for a studio apartment.
HOUSTON — Technip Energies, a French engineering and technology company that serves the energy and chemicals industries, has signed a 171,600-square-foot office lease in West Houston. According to LoopNet Inc., the 14-story building at 15377 Memorial Drive was originally constructed in 2016 and spans 384,531 square feet. Technip’s space spans six floors and can support the presence of about 1,000 employees. Gensler designed the space, and Harvey Builders handled the build-out. JLL represented the tenant in its site selection, lease negotiations and project management for the spatial build-out.
ROCKWALL, TEXAS — Locally based brokerage firm DuWest Realty has negotiated the sale of an 8.6-acre retail development site in Fort Worth. Blazing Hospitality Group purchased the land at the southeast corner of Academy Boulevard and White Settlement Road with plans to develop a shopping center that will feature multi-tenant retail buildings, as well as standalone restaurant and service retail spaces. The seller was Core Spaces. Giancarlo Carriero and Taylor Cluff of DuWest Realty co-brokered the deal.
THE WOODLANDS, TEXAS — Kodiak Gas Services has subleased 26,530 square feet of office space in The Woodlands, about 30 miles north of Houston. Kodiak’s headquarters space now encompasses the entirety of floors 18 through 20 at 9950 Woodlock Forest Drive. Dan Boyles and Brent Bishop of Partners Real Estate represented the subtenant in the negotiations. William Padon and Sydnee Hilburn of CBRE represented the sublandlord, New York Digital Investment Group LLC. The owner of the building was not disclosed.
