DALLAS — Locally based financial intermediary Metropolitan Capital Advisors (MCA) has arranged a $5.1 million construction loan for a 20,700-square-foot retail property that will be located adjacent to the RedBird Mall in South Dallas. Foot Locker will occupy the space, which will be fronted by a one-acre outdoor area that will be used for outdoor athletic events. Scott Lynn and Andrew Hanzl handled the debt placement with Texas Capital Bank on behalf of the borrower, RedBird Development Group. Future phases at RedBird Mall will include the construction of several restaurant concepts neighboring the Footlocker along the perimeter of the green space.
LINCOLNWOOD, ILL. — Mag Mile Capital has arranged a $12.5 million loan for the refinancing of a 63,453-square-foot retail property located at 6850 McCormick Blvd. in Lincolnwood. The property is home to Walmart’s new online grocery and consumer goods pick-up concept as well as Planet Fitness. R&R Global Partners acquired the building in November 2015, following an unsuccessful redevelopment attempt by its previous owner. The property had been vacant for more than two years after Dominick’s exited the market in 2013. Mac Dobson of Mag Mile arranged the seven-year, fixed-rate loan with a 73 percent loan-to-value ratio. A regional bank provided the loan.
LENEXA, KAN. — Meritex has broken ground on two 120,000-square-foot industrial buildings in Lenexa. The new buildings will each feature a clear height of 28 feet and insulated wall panels. The buildings, located at 9800 Britton St., will share a truck court. Site work will continue this fall with vertical construction expected to begin in the spring. Project completion is slated for December 2020. Colliers International will market the properties for lease.
NEBRASKA, IOWA AND KANSAS — Blueprint Healthcare Real Estate Advisors has arranged the sale of 15 skilled nursing facilities in Nebraska, Iowa and Kansas. The portfolio included 10 locations in Nebraska, four in Iowa, and one in Kansas, and consists of over 950 licensed beds. The facilities are in predominantly secondary and tertiary submarkets, and the majority were built in the 1960s and 1970s. Blueprint’s Michael Segal, Ben Firestone and Steve Thomes handled the transaction. Buyer and seller information was not disclosed.
BENSENVILLE, ILL. — Third-party logistics firm Axis Warehouse Management has signed a 174,178-square-foot industrial lease in Bensenville. The property is located at 500 Country Club Drive, about 24 miles northwest of Chicago. Built in 1974, the facility features a clear height of 22 feet, 31 exterior docks, two drive-in doors and 6,300 square feet of office space. CenterPoint Properties owns the building. Rick Daly of Darwin Realty led the lease transaction on behalf of both parties with assistance from colleague George Cibula.
SAN FRANCISCO — Kylli Inc. has received $350 million in refinancing for 225 Bush Street, a historic office building in San Francisco’s Financial District. The 580,000-square-foot asset was constructed in 1922 as the Standard Oil Building for John D. Rockefeller by architect George W. Kelham. At the time of completion, the 22-story office tower was the tallest building in San Francisco. The property was fully occupied by 31 tenants at the time of sale. Jordan Angel, Taylor Gimian and Andie Fezell of JLL Capital Markets secured the fixed-rate loan through Deutsche Bank for the borrower.
OAKLAND, CALIF. — CenterPoint Properties has purchased an industrial building, located at 5901 San Leandro St. in Oakland, for an undisclosed price. Situated on a 6.8-acre parcel, the 130,500-square-foot property offers rail-served industrial warehouse space and an ample yard area less than six miles from the Port of Oakland. The facility features 10 rail doors, 28 dock-high loading positions, six grade-level loading doors, a fully fenced and secured perimeter, and ample paved yard for truck/trailer parking and staging. The acquisition of 5901 San Leandro Street represents the fourth East Bay acquisition for CenterPoint over the past 10 months. Justin Smutko, Mark Maguire and Nick Mascheroni of Colliers International represented both the buyer and undisclosed seller in the deal.
FOLSOM, CALIF. — Voit Real Estate Services has arranged the purchase of Natoma Station Corporate Center, a multi-tenant office building in Folsom. Iron Point acquired the property from PAC West Office Equities, an entity of Buzz Oates Real Estate, for $23.7 million. Located at 950 Iron Point Road, the two-story property features 102,750 square feet of Class A office space. The buyer will occupy a portion of the property as the new corporate headquarters for two entities serving the logging and utility services industries: Mountain G Enterprises and Mountain F Enterprises. With these leases, the building will be fully occupied. Additional tenants include Devry, General Dynamics and Allstate. Rocco Curci of Voit’s Irvine, Calif., office represented the buyer, while Kevin Partington and Sean Mullen of Cushman & Wakefield represented the seller in the transaction.
WESTMINSTER, COLO. — Marcus & Millichap has facilitated the sale of Country Club Village, a retail asset located at 2721 and 2821-2851 W. 120th Ave. in Westminster. A California-based private investor acquired the asset for $9.2 million. Tenants at the 33,091-square-foot property include Caribou Coffee Co., TCBY Yogurt, Ana’s Mexican Restaurant, Hana Matsuri Sushi and Gillett Veterinary Clinic. Ryan Bowlby of Marcus & Millichap’s Denver office represented the buyer in the deal. Phillip Gause, also of Marcus & Millichap, secured financing for the transaction. The financing features a fixed, long-term interest rate with a 30-year amortization term and no prepayment penalty.
EL MIRAGE, ARIZ. — Cushman & Wakefield has brokered the $4.1 million sale of West Thunderbird Mini Storage, a self-storage facility in El Mirage. Paul Boyle and Rick Danis of Cushman & Wakefield represented the undisclosed buyer and seller in the deal. Located at 12500 W. Thunderbird Road, West Thunderbird Mini Storage totals 400 units. Built in 2002, the 45,230-square-foot property features on-site management, drive-up access, air-controlled units, perimeter fencing, gate entry, surveillance cameras and RV, car and boat parking. At the time of sale, the property was 94 percent occupied.