Property Type

Newmark Knight Frank Negotiates Sale of 586,407 SF Mixed-Use Property in San Leandro

by Amy Works November 15, 2018

SAN LEANDRO, CALIF. — Newmark Knight Frank has arranged the sale of Westgate Center, a grocery-anchored mixed-use retail center located at 1933 Davis St. in San Leandro. SKB and WHI Real Estate Partners sold the property to a New York-based global private equity firm for an undisclosed price. The 586,407-square-foot property features a 361,132-square-foot retail component and 225,275 square feet of flex office and prototyping space. Walmart, Home Depot, Ross Dress for Less, Burlington and Dollar Tree are tenants at the retail portion. The second-floor flex space, branded as Gate510, offers an environment for entrepreneurs and creators to collaborate, invent, work and manufacture. Nicholas Bicardo, Brandon Rogoff and Grant Lammersen of NKF represented the seller in the deal.

November 15, 2018

Acquisitions Colorado Retail Western

Dormie Capital Holdings Buys 86,659 SF Shopping Center in Colorado for $10.6M

by Amy Works November 15, 2018

CONIFER, COLO. — Dormie Capital Holdings has acquired Conifer Marketplace, a shopping center located at 10853 Highway 285 in Conifer, approximately 30 miles southwest of Denver. An undisclosed seller sold the property for $10.6 million. Built in 1984, the 86,659-square-foot retail property was 92 percent occupied at the time of sale. Tenants include Staples, O’Reilly Auto Parts and Anytime Fitness. Legend Investment Group, a division of Legend Partners, represented the seller. Matt Call and Heather Taylor of Navpoint represented the buyer in the deal.

November 15, 2018

Acquisitions Oregon Retail Western

Asana Partners Acquires Whole Foods 365-Anchored Retail Center in Suburban Portland

by Amy Works November 15, 2018

LAKE OSWEGO, ORE. — Asana Partners has purchased Oswego Village, a five-building retail center located at 11 State St. in Lake Oswego, from an institutional seller for an undisclosed price. Situated on 7.7 acres, the 102,809-square-foot property was 84.5 percent leased at the time of sale. Tenants include Whole Foods 365, Ace Hardware, Tuesday Morning, North Lake Physical Therapy, Banfield Pet Hospital, Great Clips and Subway. Nick Kassab and Bryan Ley of HFF represented the seller in the transaction. Asana Partners acquired the property free and clear of existing debt.

November 15, 2018

Acquisitions California Industrial Western

Cushman & Wakefield Brokers $1.8M Sale of Industrial Building in Metro San Diego

by Amy Works November 15, 2018

VISTA, CALIF. — Cushman & Wakefield has arranged the sale of a freestanding industrial building, located at 2530 Pioneer Ave. in Vista. Ki’s Kitchen purchased the 9,150-square-foot property from BS Ventures for $1.8 million. Built in 1989, the property features a modernized conference room, private office space, open break room/reception, floor-to-ceiling glass walls, multiple restrooms, motorized grade loading and a secured fenced yard. The buyer, a privately owned commercial kitchen company, plans to relocate its own operations to the property from its current location in Carlsbad. Chris Baumgart and Jeffrey Sallen of Cushman & Wakefield’s San Diego office represented the seller in the deal.

November 15, 2018

Development Hospitality Texas

Tutor Perini Awarded 1,000-Room Hotel, Casino Project in Durant, Okla.

by Taylor Williams November 15, 2018

DURANT, OKLAHOMA — Tutor Perini Corp. (NYSE: TPC) has been awarded the design/build contract for the Choctaw Casino & Resort Expansion project, which will deliver a 1,000-room hotel and resort complex in Durant, a city near the Texas border. Upon completion, the property will feature an expanded casino, multiple onsite restaurants, movie theaters and new retail space. JCJ Architecture and Friedmutter Group are the design partners. Design work is expected to begin in the fourth quarter of 2018 with substantial completion anticipated in the spring of 2021.

November 15, 2018

Acquisitions Multifamily Texas

Keener Investments Acquires 314-Unit Multifamily Portfolio in League City, Texas

by Taylor Williams November 15, 2018

LEAGUE CITY, TEXAS — Houston-based Keener Investments has acquired The Shore and Harbor Walk, two multifamily properties totaling 314 units in League City, about 25 miles southeast of Houston. Both Class B properties were built in the 1980s, have an average unit size of 880 square feet and feature pools, fitness centers, business centers and playgrounds. Keener will upgrade both properties’ unit interiors and amenity spaces. The seller was not disclosed.

November 15, 2018

Development Multifamily Texas

Allen Harrison Co. Nears Completion of 306-Unit Apartment Project in San Antonio

by Taylor Williams November 15, 2018

SAN ANTONIO — Houston-based developer Allen Harrison Co. is nearing completion of Los Robles, a 306-unit multifamily project in the Stone Oak area of northern San Antonio. The property, which is expected to be open for leasing by year’s end, will feature a resort-style pool, 24-hour fitness center, resident clubhouse with a lounge and pub, a dog park and private storage. Embrey Management Services will lease and manage the property upon completion.

November 15, 2018

Industrial Leasing Activity Texas

NAI Partners Secures 64,175 SF Industrial Lease Renewal in Houston

by Taylor Williams November 15, 2018

HOUSTON — NAI Partners has secured a 64,175-square-foot industrial lease renewal at 5700 Campbell Road in Houston on behalf of Gulf Pacific Rice, a rice processor and merchandiser. Jake Wilkinson of NAI Partners represented the tenant in the lease negotiations. The name and representative of the landlord were not disclosed.

November 15, 2018

Development Retail Texas

Topgolf to Open 55,000 SF Venue in Rio Grande Valley on Nov. 16

by Taylor Williams November 15, 2018

PHARR, TEXAS — Dallas-based Topgolf will open a 55,000-square-foot venue in the Rio Grande Valley city of Pharr on Friday, Nov. 16. Topgolf has already hired 350 full- and part-time associates in advance of the opening of the Pharr location, which will be the company’s 50th overall. Topgolf venues feature chef-driven menus, big-screen TVs and private event spaces. The company offers social leagues and tournaments as well.

November 15, 2018

Loans Michigan Midwest Multifamily

Berkadia Secures $108.3M Acquisition Financing for Two Apartment Properties in Michigan

by Kristin Harlow November 15, 2018

GRANDVILLE AND WYOMING, MICH. — Berkadia has secured $108.3 million in acquisition financing through Fannie Mae for two apartment properties in Michigan. Torchlight Investors was the borrower. The Grandville property features a mix of studio, one-, two- and three-bedroom units. Amenities include a basketball court, pet area, fitness center and walking and biking trails. The Wyoming property offers upgraded units with vaulted ceilings and walk-in closets. Amenities include a fitness center, outdoor courtyard, swimming pools, tennis courts and storage facilities. Peter Benedetto of Berkadia arranged 12-year, fixed-rate financing for both properties.

November 15, 2018

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