Property Type

Rancho-Vista-Corporate-Center-San-Diego-CA

SAN DIEGO — Ware Malcomb has completed the redevelopment construction of Rancho Vista Corporate Center, located at 16399 W. Bernardo Drive in San Diego. Swift Real Estate Partners is the developer, Level 10 Construction served as general contractor and Ware Malcomb provided architecture, interior design and branding services for the project. The newly renovated corporate campus features Class A office and R&D buildings totaling 838,300 square feet on 67.5 acres. The project included the renovation of the exteriors, with upgraded landscape and hardscape throughout, as well as upgrading the on-site amenities for tenants. Additionally, the project now features a remodeled conference center, courtyard and 15,600-square-foot café with an operable glass wall system, as well as a new indoor workout facility, activity center with basketball and volleyball courts, outdoor collaboration areas and an outdoor dining area with a stretched fabric canopy. Ware Malcomb’s Branding Studio also provided signage design services for the redevelopment. The main goal for the project was to create site and brand identity with a design focused on energy efficiency, with xeriscaping to minimize water use and abundant shared areas to allow users to utilize site amenities.

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Esplanade-Shopping-Center-Oxnard-CA

OXNARD, CALIF. — NKF Capital Markets has arranged the sale of Esplanade Shopping Center, a regional shopping center located at 195 W. Esplanade Drive in Oxnard. Brixmor Property Group sold the property to G&I IX Esplanade Property LP for undisclosed price. At the time of sale, the 488,867-square-foot property was 92.3 percent occupied. Current retailers include Nordstrom Rack, Walmart Neighborhood Market, T.J. Maxx, Staples, Dick’s Sporting Goods, Cost Plus World Market and The Home Depot. Restaurants include BJ’s Restaurant, Blaze Pizza, In-N-Out Burger, Pick Up Stix, Jamba Juice and Starbucks Coffee. Bill Bauman, Kyle Miller and Matthew Schwartz of NKF Capital Markets represented the seller. Additionally, NKF’s David Milestone and Brett Green secured financing for the buyer in the transaction.

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CHICAGO — Lendlease has opened The Cooper at Southbank, a 29-story, 452-unit apartment tower in Chicago’s South Loop. It is the first project both built and developed by the firm in the Chicago market. The Cooper is one of five residential buildings planned for Southbank, a seven-acre neighborhood development along the South Branch of the Chicago River. Floor plans range in size from 451 to 1,104 square feet. Monthly rents start at $1,710. In addition to apartment units, six penthouses and 26 townhomes will be available for rent starting in January. Amenities span more than 35,000 square feet on the sixth floor and include a terrace, pool, pizza oven, bocce ball court, fitness center with Peloton bikes, virtual sports simulator, musical instrument lounge and reading room. Pet amenities, including a dog run and grooming station, are located on the fifth floor. Southbank’s central amenity will be a two-acre park. Perkins+Will serves as the principal architect for Southbank. Hoerr Schaudt is the landscape architect. The Cooper is named after several Chicago creative pioneers, including the artistry of Frederick Cooper’s lighting, the craftsmanship of Oswald Cooper’s lettering and typefaces, the ingenuity of Martin Cooper’s inventions and the spirit of Jack L. Cooper’s early radio …

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DAVENPORT, IOWA — Equity Investment Group has acquired a 113,713-square-foot shopping center anchored by Hv-Vee in Davenport for an undisclosed price. Known as Kimberly West shopping center, the property is 87.8 percent leased. Other tenants include Great Clips, Tony’s Chicago Style Pizzeria, Rent-A-Center, Citizens Finance Co., Amana Medical Care and Lily Massage. Amy Sands, Clinton Mitchell and Jules Sherwood of HFF represented the seller, Brixmor Property Group.

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DETROIT — Greystone Bel has arranged the sale of Carlton Apartments in Detroit for an undisclosed price. The 144-unit, garden-style apartment community is located in the Lafayette Park neighborhood. Built in 1971 and located at 1387 East Larned St., Carlton Apartments offers studio, one-and two-bedroom floor plans. Cary Belovicz of Greystone Bel represented the undisclosed seller. Belovicz, along with John Marr of Greystone, also secured a 10-year Fannie Mae loan that features a 4.96 percent fixed rate on behalf of the buyers, Andover Real Estate Partners and The M-Group.

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BELTON, MO. — Furniture Deals, a family-owned furniture retailer, has opened a 50,000-square-foot showroom in the North Cass Shopping Center in Belton, located about 21 miles south of Kansas City. Furniture Deals replaces Price Chopper as the anchor tenant of the shopping center. The showroom doubles the size of the company’s original Belton location at 1737 E. North Ave. Founded in 2004, Furniture Deals now employs 100 people and offers a selection of furniture, mattresses and home decor.

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ADA, MICH. — MichiganLabs has expanded into the second floor at 452 Ada Drive in Ada, about 10 miles east of Grand Rapids. In December, the software developer leased 2,541 square feet on the third floor. The new office space, totaling 1,643 square feet, will be called “The Lab” and will allow the company to expand its services and hire additional developers. First Cos. is building out the space and Integrated Architecture is providing interior design services. MichiganLabs plans to occupy the new space starting Oct. 7. Jason Webb of Colliers International represented MichiganLabs in the new lease. Brian Sikma of Highpoint Real Estate represented the undisclosed landlord.

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ORLANDO, FLA. — Innovatus Capital Partners LLC has acquired Westwood Corporate Center, a five-building, 343,331-square-foot office campus in Orlando. The name of the seller and sales price were not disclosed. The complex was built in three phases between 1988 and 1999. Phase I included three single-story buildings and Phases II and III are both five-story, Energy Star-certified buildings. Westwood Corporate Center was 97 percent leased at the time of sale to 25 tenants. The largest tenant — Marriott Vacations Worldwide — opened its global headquarters at the property in 1996 and has since more than tripled its footprint, expanding eight times to its current operations at 157,400 square feet. The property features a four-story, 1,463-space parking garage, and is situated on 21 acres, roughly 12 miles from Orlando International Airport.

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SUMMERVILLE, S.C. — SunTrust Commercial Real Estate (CRE) has provided $39 million in construction financing for the development of South City Summerville, a 360-unit apartment community in Summerville, roughly 25 miles northwest of Charleston. Mark Hancock of SunTrust CRE originated the financing on behalf of the project developer, a joint venture between Watkins Real Estate Group and Retail Planning Corp. South City Summerville will be situated on 39 acres and will include a mix of one-, two- and three-bedroom floor plans. The joint venture expects to wrap up construction on the project in June 2020.

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JACKSON, MISS. — KeyBank Real Estate Capital has provided a $30.6 million Fannie Mae loan for the acquisition of The District Lofts, a 261-unit apartment community in Jackson. Chris Black and Caleb Marten of KeyBank originated the 10-year, fixed-rate loan with five years of interest-only payments and a 30-year amortization schedule. The name of the borrower was not disclosed. Constructed in 2017, The District Lofts features a saltwater pool with sundeck, outdoor kitchens, outdoor fireplace, bocce ball court, fitness center, coffee bar, indoor pet spa and a covered parking deck.

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