Property Type

Rexford Industrial Realty Acquires 126,317 SF Newbury Industrial Park in Southern California for $23.3M

by Amy Works October 9, 2019

THOUSAND OAKS, CALIF. — Rexford Industrial Realty has purchased Newbury Industrial Park, a multi-tenant industrial building in the Conejo Valley submarket of Thousand Oaks. Newbury Industrial Associates sold the asset for $23.3 million, or $184 per square foot. Situated on 8.1 acres, the 126,317-square-foot property was built in 1970 and renovated in 2018. At the time of sale, the property was 93 percent occupied by 13 tenants. The facility features 20-foot to 22-foot clear heights, 16 grade-level doors with one dock-high loading area and is accessible via three separate entrances. Additionally, the asset is located within Conejo Spectrum, a 2.8 million-square-foot office and industrial micro-market in Ventura County. Sean Fulp, Ryan Plummer, Mark Schuessler, Jeff Abraham, John DeGrinis and Patrick DuRoss of Newmark Knight Frank (NKF) represented the seller, while Andrey Mindirgasov of NKF represented the buyer in the deal.

October 9, 2019

Loans Multifamily Texas

Money360 Provides $21.4M Bridge Loan for Office Asset in Frisco

by Taylor Williams October 9, 2019

FRISCO, TEXAS — California-based direct lender Money360 has provided a $21.4 million bridge loan for the refinancing of an undisclosed office property in the northern Dallas suburb of Frisco. The nonrecourse loan carries a 24-month term, floating interest rate and 75 percent loan-to-value ratio. The borrower was not disclosed.

October 9, 2019

Acquisitions Industrial Lee & Associates Texas

Lee & Associates Brokers Sale of Two Industrial Buildings Totaling 151,700 SF in Arlington

by Taylor Williams October 9, 2019

ARLINGTON, TEXAS — Lee & Associates has brokered the sale of two industrial buildings totaling 151,700 square feet in Arlington. The properties are located at 2000 and 2030 E. Arbrook Blvd., less than a mile from Interstate 20. Mark Graybill and Colton Rhodes of Lee & Associates represented the seller, Hamilton Commercial LLC, in the transaction. EastGroup represented the buyers.

October 9, 2019

Acquisitions Office Retail Texas

NAI Partners Negotiates Sale of Retail, Office Property in Metro Houston

by Taylor Williams October 9, 2019

SPRING, TEXAS — NAI Partners has negotiated the sale of Spring Stuebner Plaza, a 66,125-square-foot retail and office warehouse property located near Springwoods Village on the northern outskirts of Houston. The property was fully leased at the time of sale. Josh Lass-Sughrue and Jason Ridenbaugh of NAI Partners represented the seller, Spring Stuebner Realty Ltd., in the transaction. The buyer was an undisclosed private investor.

October 9, 2019

Leasing Activity Office Texas

Sunwest Real Estate Signs 52,551 SF Lease at Tennyson Office Center in Plano

by Taylor Williams October 9, 2019

PLANO, TEXAS — Sunwest Real Estate Group has signed a 52,551-square-foot lease at Tennyson Office Center, a two-building office complex in Plano. The tenant was NCR Corp. Doug Hanna and Tabitha Layne represented the building ownership on an internal basis. Doug Carignan and Steve Thelen of JLL represented the tenant. Sunwest recently repositioned the property to the tune of $3 million, renovating the lobbies, corridors, restrooms and exterior façade painting.

October 9, 2019

Industrial Leasing Activity Texas

Holt Lunsford Arranges 24,399 SF Industrial Lease in Coppell, Texas

by Taylor Williams October 9, 2019

COPPELL, TEXAS — Holt Lunsford Commercial has secured a 24,399-square-foot industrial lease at 820 W. Sandy Lake Road in Coppell, located north of Fort Worth. According to LoopNet Inc., the property was built in 2006 and is located about a mile north of DFW International Airport. Jim Brice of Holt Lunsford represented the landlord, La Salle Investment Management Inc., in the lease negotiations. Matt Elliot of NAI Robert Lynn represented the tenant, Science Care Inc., an organ donation and tissue bank.

October 9, 2019

Acquisitions Georgia Office Southeast

CBRE Arranges Sale of Four-Building Office Park in Metro Atlanta

by Alex Tostado October 9, 2019

PEACHTREE CORNERS, GA. — CBRE has arranged the sale of The Corners, a four-building office park spanning 290,924 square feet. The property comprises two office buildings and two technology centers. The seller, Glenfield Capital, recently implemented a $6.8 million renovation, upgrading the lobby, common areas and electric wiring while adding a new roof and electric car charging stations. The Corners is located in Peachtree Corners, 21 miles northeast of downtown Atlanta. RealOp Investments acquired the asset for an undisclosed amount. Tom Shafer and John Hinson of CBRE represented the seller in the transaction.

October 9, 2019

Acquisitions Florida Multifamily Southeast

Cushman & Wakefield Negotiates $55.6M Sale of Ventura Pointe Apartment Complex in Broward County

by Alex Tostado October 9, 2019

PEMBROKE PINES, FLA. — Cushman & Wakefield has negotiated the $55.6 million sale of Ventura Pointe, a 206-unit multifamily property in Pembroke Pines. The seller, Eastwind Development, built the community in 2018. The apartment complex offers one-, two- and three-bedroom floor plans averaging 958 square feet. Ventura Point comprises two four-story buildings and two five-story buildings. Communal amenities include a swimming pool with lounge area; outdoor kitchen and grills; indoor lounge with community kitchen; billiards; 24-hour ﬁtness center; and a conference room and business center. On the east side of the property, a two-acre park provides lakefront jogging path. Located at 7850 Pasadena Blvd., the property is situated 27 miles north of downtown Miami. Lloyd Jones LLC acquired the asset.

October 9, 2019

Acquisitions District of Columbia Hospitality Southeast

Pebblebrook to Sell Kimpton Topaz Hotel in D.C. for $33M

by Alex Tostado October 9, 2019

WASHINGTON, D.C. — Pebblebrook Hotel Trust has agreed to sell the 99-room Kimpton Topaz Hotel in Washington, D.C. for $33 million. The buyer was not disclosed. The hotel is located at 1733 N St. NW, less than a mile from The White House and two blocks from Dupont Circle. Hotel amenities include complimentary breakfast, a yoga mat in each room, electric car charging stations, 24-hour fitness center and twice-nightly wine hour.

October 9, 2019

Acquisitions Georgia Multifamily Southeast

FCP Acquires Portofino Apartments Near Atlanta for $19M

by Alex Tostado October 9, 2019

CLARKSTON, GA. — FCP has acquired Portofino Apartments, a 234-unit, garden-style community in Clarkston, for $19 million. The property is located at 1250 Brockett Road, 12 miles east of downtown Atlanta. Portofino Apartments offers one- through three-bedroom floor plans. Communal amenities include two swimming pools, a playground, basketball court and dog park. Wesley Kenney and Tyler Averitt of Cushman & Wakefield represented the undisclosed seller in the transaction.

October 9, 2019

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