HAZLET, N.J. — Marcus & Millichap has negotiated the $4.4 million sale of a 14,112-square-foot retail property in Hazlet, located approximately 25 miles south of New York City. At the time of sale, CVS occupied the property’s anchor space on a 20-year lease.Alan Cafiero, Ben Sgambati and David McLaughlin of Marcus & Millichap represented the seller, a limited liability company. Other terms of sale were not disclosed.
HOUSTON — Venterra Realty has sold Champions Woods Apartments, a 186-unit multifamily community in northwest Houston. The property features one- and two-bedroom units in various configurations that are equipped with garden tubs, built-in shelving, large walk-in closets and private balconies. Amenities include a swimming pool with waterfall, hot tub, outdoor entertainment pavilion with a grilling area, renovated fitness center and a cybercafé. Bob Heard, Chip Nash and Greg Austin of JLL handled the transaction on behalf of Venterra. James Brolan of JLL arranged a 10-year, floating-rate acquisition loan through Freddie Mac on behalf of the buyer, Haven Realty Capital.
DALLAS — Southwest Transplant Alliance, a non-profit organ recovery organization, has sold a 33,561-square-foot office building in Dallas that served as its headquarters for 10 years. Mike Gosslee of Cushman & Wakefield represented Southwest Transplant Alliance, which will relocate to a 77,000-square-foot building that is currently under construction, in the transaction. Fears | Nachawati, a Dallas-based plaintiffs law practice, acquired the asset for an undisclosed price.
HOUSTON — The Toasted Yolk Café, a breakfast eatery founded in 2010, will open three new restaurants in the Houston area in early 2020, raising its total store count to 14. The company will open restaurants at Westmont Shopping Center in Beaumont, The Shoppes of Cypress Mill in Cypress and The Crossing at Katy Fulshear in Katy during the first two months of the new year. Paul Vernon and Campbell Vise of Henry S. Miller represented Toasted Yolk Café in the lease negotiations. Following these openings, the restaurant will have 14 locations throughout the Houston area.
DALLAS — Locally based developer KDC has broken ground on a new, 8,000-square-foot facility in Dallas for The Magdalen House, a nonprofit organization focused on helping women recover from alcoholism. The new facility will increase the organization’s space by roughly 44 percent. Omniplan is serving as the project architect, and Buford Hawthorne Builders is the general contractor. Completion is scheduled for early 2021.
LAS VEGAS — Houston-based Weingarten Realty Investors has completed the sale of Westland Fair, a shopping center in west Las Vegas. Southern California-based Cannon Commercial acquired the asset for an undisclosed price. The transaction included seven parcels totaling 214,127 square feet of retail space. Rob Ippolito and Michael Zobrist of Newmark Knight Frank represented the seller in the deal. Located at 1251 S. Decatur Blvd., Westland Fair is anchored by regional and national tenants, including Smart & Final Extra!, Michaels and PetSmart. Additional tenants include Raising Cane’s Chicken Fingers, Freddy’s Frozen Custard, Applebee’s, Panda Express, Jamba Juice and Office Depot.
SACRAMENTO, CALIF. — Irvine, Calif.-based Pacific Castle Management has completed the sale of Strawberry Creek, a shopping center in Sacramento. A local private investment group acquired the property for $20.9 million. Constructed in 2007 on 7.4 acres, the four-building property features 57,373 square feet of retail space. Edward Nelson and Nicholas Scelsa of Marcus & Millichap represented the seller and procured the buyer in the deal.
PENDLETON, ORE. — Crystal Investment Property has brokered the sale of The Marigold Hotel in Pendleton. The two-story property sold for an undisclosed price. Completely updated in 2018, the 47-key hotel features more than $560,000 in capital improvements and a mix of guestrooms. The Marigold Hotel also features close proximity to downtown restaurants and highway access, a designated parking garage, owner’s quarters and an on-site commercial kitchen. Joseph Kennedy of Crystal Investment Property represented the undisclosed seller and buyer in the deal.
SURPRISE, ARIZ. — Cushman & Wakefield has arranged the sale of Mountain Vista Plaza, a retail center located in Surprise. An entity formed by Boarder Capital sold the asset to Canada-based MIRAJH LLP for $14.1 million. Located at the southwest corner of Bell and Reems roads in Surprise, Mountain Vista Plaza features 64,071 square feet of retail space. Built in 2006, the fully redeveloped property is 93.5 percent occupied. Planet Fitness is the anchor tenant. Ryan Schubert and Michael Hackett of Cushman & Wakefield handled the transaction.
TEMPE, ARIZ. — Dixxon Flannel Co. has purchased a 48,000-square-foot industrial and retail warehouse located at 7200 S. Priest Drive in Tempe. A furniture store sold the asset for $4.5 million. Situated on 2.6 acres, the two-story property features a 13,000-square-foot showroom and office space. The first floor includes four office spaces, a showroom, kitchen, shower and two bathrooms, while the second floor features six office spaces, a storage area and conference room. Additionally, the building features 24-foot clear heights, four dock-high loading doors and a full sprinkler system. Ryan Reisman, Chris Rogers, Trevor McKendry and Steve McKendry of DAUM Commercial Real Estate Services represented the seller in the deal.