HOUSTON — Salata, a Houston-based fast casual salad restaurant, is aiming to open an additional 130 restaurants by 2020, including 30 during the remainder of this year. Additional restaurants will be opening in Houston and Dallas-Fort Worth (DFW) and Oklahoma City, and the company will be rolling out new locations in Florida as well. CBRE will represent Salata in its site selection process and lease negotiations.
HOUSTON — Lee & Associates has negotiated the sale of a 24,928-square-foot industrial building at 14219 Westfair W. Drive in Houston. Thomas Leger and Patrick Wolford of Lee & Associates represented the buyer, American Fire Systems, in the transaction. Richard Glass of CRC Real Estate represented the seller, Export Service International Forwarding LLC, a Houston-based freight company.
ALLEN, TEXAS — Bradford Commercial Real Estate Services has secured a 10,105-square-foot office sublease at 1101 Central Expressway in the northeastern Dallas metro of Allen. Susan Singer and Jared Laake of Bradford represented the sublessor, Insureon Holdings LLC. Calvin Wong of Engvest Commercial Realty LLC represented the sublessee. The two-building office development was built in 2006 and is now 96 percent leased.
BELLEVUE, WASH. — Koelsch Communities has announced plans for Belle Harbour Senior Community, a 140-unit assisted living and memory care community in the Seattle suburb of Bellevue. Groundbreaking is scheduled for October 2018 for a June 2020 opening. Development costs are estimated at $70 million. The campus will total 142,000 square feet on a 2.9-acre site. The two buildings will include The Inn Memory Care Community and The Park Assisted Living Community. Koelsch will operate the community upon completion. Partners include RJ Development. Koelsch Construction will act as general contractor, and Judy Koelsch and David Goularte of JSK Design will provide interior design services. Koelsch Communities operates 28 communities in eight states, with nine new communities in development.
LOS ANGELES — Quantum Capital Partners has secured a $25 million refinancing on behalf of Park City LLC for City Park Apartments, a 130-unit community located near the University of Southern California in downtown Los Angeles. The property consists of two four-story buildings offering two- and three-bedroom units. Shared amenities include on-site parking, a fitness center and a recreation room. Although the property is not operated as traditional student housing, the community’s proximity to USC has made it an option for students. The community was 99 percent occupied at the time of financing.
TUCSON, ARIZ. — Alpha Wave Investors has purchased Orange Tree Village, a townhome-style multifamily property located at 645 W. Orange Grove Road in the Casas Adobes neighborhood of Tucson. A Texas-based private investor sold the property for $10.5 million. Alpha Wave plans to invest more than $2 million in capital upgrades at the property, including new paint and roofing, an upgraded pool and clubhouse, a new fitness center and children’s playground, interior unit renovations and a dog park. Constructed in 1981, the property features one-, two- and three-bedroom floor plans with private patios. At the time of acquisition, the 110-unit property was 85 percent occupied. Alon Shnitzer of ABI Multifamily represented the buyer, while John Ibrahim, also of ABI Multifamily, represented the seller in the deal. David Walkin of Meridian Capital Group arranged the acquisition financing for the buyer. Thorofare Capital funded the loan.
PRESCOTT, ARIZ. — NKF Capital Markets has arranged the sale of Prescott Gateway Mall, located at 3250 Gateway Blvd. in Prescott. T. Prescott AZ LLC sold the property to Prescott Gateway Mall Realty Holding for $8.8 million. Situated on 37.9 acres, the 318,503-square-foot property was approximately 75 percent occupied at the time of sale. Dillards, JCPenney, Sears, Bed Bath & Beyond, Michaels, Cost Plus World Market, Pier 1 Imports, Texas Roadhouse, Wild Flower Bread Co., Buckle, Chico’s, Maurie’s, Rue 21 and Victoria’s Secret are tenants at the mall. Thomas Dobrowski and David Guido of NKF aided the buyer and seller in the transaction.
TEMPE, ARIZ. — Marcus & Millichap has arranged the sale of an apartment building located at 407-419 W. Seventh St. in Tempe. An out-of-state 1031 exchange investor acquired the property from a local limited liability company for $2.6 million, or $184,557 per unit. The property features 14 apartment units. Rich Butler of Marcus & Millichap represented the seller and buyer in the transaction.
WASHINGTON, D.C. — Skanska USA has topped out RESA, a 12-story, 326-unit apartment community located at 22 M St. in Washington, D.C.’s NoMa neighborhood. Situated 1.5 blocks from the NoMa/Gallaudet U Metro station, the apartment tower is the multifamily portion of Tyber Place, a three-building mixed-use development that will also feature 585,000 square feet of office space, 30,000 square feet of retail and restaurants and an open-air courtyard. RESA’s amenity package will include a rooftop “plunge” pool and lounge; rooftop penthouse with a catering kitchen; second-floor courtyard with grills, TV, bar and outdoor fireplace; 24-hour concierge services; resident lounges; fitness center; pet spa; bike storage; and a three-level, underground parking garage. RESA is Skanska USA’s first multifamily development in Washington, D.C.
LAKELAND, FLA. — Lakeland-based Publix Super Markets has purchased a portfolio of nine Publix-anchored shopping centers from Madison International Realty and DDRM Properties, an affiliate of DDR Corp. The sales price was not disclosed. The portfolio totals 732,000 square feet, with eight shopping centers located throughout Florida and one located in McDonough, Ga. In 2017, Madison and DDR recapitalized a 52-property portfolio of grocery-anchored shopping centers that DDR Corp. previously owned with other partners for $1.05 billion. Following the nine-property sale, DDRM Properties now has 43 assets spanning 6.3 million square feet left from the original portfolio.
