Property Type

Bellomy Arranges Sale of 482-Unit Self-Storage Facility in Metro Austin

by Taylor Williams April 13, 2018

LEANDER, TEXAS — Bellomy & Co. has arranged the sale of Big & Safe Self Storage, a 482-unit facility in Leander, a northwestern suburb of Austin. Built in 2004 and expanded in 2014, the property features climate- and non-climate-controlled units totaling 60,475 net rentable square feet. Bill Bellomy, Michael Johnson and John Arnold of Bellomy & Co. represented the Vermont-based seller in the transaction. The team also procured the buyer, Montfort Capital Partners, a Dallas-based self-storage investment firm.

April 13, 2018

Acquisitions Retail Texas

CBRE Negotiates Sale of 74,310 SF Retail Center in Denton

by Taylor Williams April 13, 2018

DENTON, TEXAS — CBRE has negotiated the sale of Shops at Colorado, a 74,310-square-foot retail center in the North Texas city of Denton. The property was 100 percent leased at the time of sale to tenants such as Bed Bath & Beyond, Staples, Party City and Sherwin-Williams. Chris Gerard, Chris Cozby and Blaine Dozier of CBRE represented the seller, RCG-Denton LLC, in the transaction. Lincoln Retail Income & Growth Fund purchased the asset for an undisclosed price.

April 13, 2018

Development Retail Texas

Vista Completes 44,000 SF Retail Center in Metro Dallas

by Taylor Williams April 13, 2018

MESQUITE, TEXAS — Vista Property Co. has completed Frontera Plaza, a 44,000-square-foot retail center located at the southeast quadrant of Buckner Boulevard and Interstate 30 in Mesquite, an eastern suburb of Dallas. The property was fully leased upon completion to tenants such as Planet Fitness, Foot Locker and western apparel store Rancho Semental. The property is shadow-anchored by a Walmart and a Sam’s Club. An H-E-B grocery store is also being developed at the intersection.

April 13, 2018

California Hospitality Western

R.D. Olson Construction Completes $120M Marriott Hotel in Irvine, California

by Nellie Day April 13, 2018

IRVINE, CALIF. — R.D. Olson Construction has completed the $120 million Irvine Spectrum Marriott hotel. The 271-room property is located at 7905 Irvine Center Drive. The Irvine Spectrum Marriott offers more than 9,000 square feet of indoor meeting facilities in up to seven room configurations. The 15-story building has one of the highest and largest rooftop lounges in Orange County with a full-service bar and 360-degree views.

April 13, 2018

California Retail Western

Marcus & Millichap Arranges $10.3M Sale of Two-Story Retail Property in Los Angeles

by Nellie Day April 13, 2018

LOS ANGELES — Marcus & Millichap has arranged the $10.3 million sale of La Brea Sunset Plaza, an 18,297-square-foot retail property in Los Angeles. Mike Malick and Aria Pournazarian of Marcus & Millichap arranged the transaction on behalf of the undisclosed seller and buyer. The two-story property was fully leased at the time of sale.

April 13, 2018

California Industrial Western

MCA Realty Buys 137,465 SF Industrial Building in Moorpark, California

by Nellie Day April 13, 2018

MOORPARK, CALIF. — MCA Realty has purchased a 137,465-square-foot industrial property in the Ventura County city of Moorpark. The two-building complex is located at 14399 and 14401 Princeton Ave. One of the buildings is leased to turbocharger manufacturer Turbonetics Holdings.

April 13, 2018

California Industrial Western

Dollar General to Expand Distribution Operations by 240,000 SF Near Bakersfield

by Nellie Day April 13, 2018

TEJON RANCH, CALIF. — Dollar General has expanded its presence at Tejon Ranch Commerce Center (TRCC) just south of Bakersfield with the addition of more than 240,000 square feet of warehouse space. The dollar store currently operates out of a separate building at TRCC. This expansion will allow retailer to increase its footprint by nearly 40 percent. Dollar General has used the Tejon Ranch Commerce Center as the hub of its California distribution operations for the last six years. With its expansion into the new Tejon Ranch-Majestic Realty-developed facility, it will now occupy a total of more than 850,000 square feet of space within TRCC.

April 13, 2018

Multifamily Nevada Western

Henley USA, Tower 16 Capital Partners Launch New Multifamily Brand in Las Vegas

by Nellie Day April 13, 2018

LAS VEGAS — A partnership between Henley USA and Tower 16 Capital Partners has created Altura, a new brand of multifamily apartment communities in Las Vegas. The initial property under the new brand will be called Altura on Duneville and feature 228 apartments. A second property acquisition will be announced in May, with plans for additional acquisitions later this year. Each Altura property will be renovated to bring a modern, contemporary look and upgraded amenities to the community. Every Altura property will have a completely refurbished clubhouse, a 24-hour fitness center, new laundry equipment and enhanced common spaces, including the lobby and pool. Apartment interiors will also be upgraded with contemporary finishes and residential technology.

April 13, 2018

Acquisitions Maryland Multifamily Southeast

Avanath Capital Acquires Two Multifamily Communities in Metro D.C. for $29.3M

by Camren Skelton April 13, 2018

UPPER MARLBORO, MD. — Avanath Capital Management LLC has acquired two multifamily properties in Upper Marlboro, roughly 20 miles southeast of Washington, D.C., for a combined $29.3 million. The firm acquired Largo Center, a 100-unit community located at 520 Largo Center Drive, for $14.3 million, and Vistas at Lake Largo, a 110-unit seniors housing community located at 500 Harry S. Truman Drive, for $15 million. The properties were purchased through Avanath’s institutional fund, Avanath Affordable Housing III. The names of the sellers were not disclosed. Largo Center features a swimming pool, clubhouse and in-unit washers and dryers. Vista at Lake Largo features a theater, courtyard, community room and laundry facilities. Avanath plans to renovate both properties with upgraded clubhouses and fitness centers, keyless entry, LED lighting, exterior paint, landscaping improvements and renovated common area hallways.

April 13, 2018

Georgia Leasing Activity Retail Southeast

Silverspot Cinema to Open 38,000 SF Theater at The Battery Atlanta

by Camren Skelton April 13, 2018

ATLANTA — Silverspot Cinema has unveiled plans to open a 38,000-square-foot theater with multiple screens at The Battery Atlanta, a 1.5 million-square-foot mixed-use development in Cobb County. Braves Development Co. (BDC) owns and operates the development, which is home to retail, restaurants, an Omni Hotel, The Coca-Cola Roxy concert venue, multifamily residences and a Comcast office tower. The mixed-use village surrounds SunTrust Park, the new home ballpark of the Atlanta Braves. Silverspot Cinema will feature a full bar, in-theater dining and a range of programming and events, including The MET Opera Series; Broadway musicals and plays; rock concerts and symphonic orchestras; and Flashback Cinema, a film series that brings classic films back to the big screen. Gary Lewis of Gary Lewis & Associates Real Estate represented BDC in the lease negotiations. Naples, Fla.-based Silverspot will open the new theater at The Battery in 2019.

April 13, 2018

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