MIAMI — NAI Miami | Fort Lauderdale has brokered the $2.3 million sale of a two-story, 9,192-square-foot office building located at 9703 S. Dixie Highway in the Miami village of Pincecrest. Jeremy Larkin, Joseph Gallaher and Valentina Tawil of NAI Miami | Fort Lauderdale represented the seller, an entity doing business as 9703 Dixie LLC, in the transaction. Robert Eckstein, also with NAI Miami | Fort Lauderdale, represented the undisclosed buyer, which plans to invest in capital improvements to bring the office building to market-ready conditions. According to LoopNet Inc., the property is known as The Pile Building and was originally completed in 1959.
SAN ANTONIO — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of The Place at Castle Hills, a 680-unit apartment community located about eight miles north of downtown San Antonio. Built on 23 acres in 1984, the property features one- and two-bedroom units with an average size of 687 square feet. Amenities include three pools, a business center and a resident clubhouse. Drew Garza, Will Balthrope and Ben Kalter of IPA represented the seller, MC Cos., in the transaction and procured the buyer, Philadelphia-based Harvest Equities. The new ownership has rebranded the property as Seraphina Castle Hills.
OREGON CITY, ORE. — Virtu Investments has completed the disposition of Barclay Village, a multifamily property located at 775 Cascade St. in Oregon City, to an undisclosed buyer for $29.2 million. Built in 1987, Barclay Village has been undergoing extensive renovations since 2017. Barclay Village features 146 one- and two-bedroom units with modern amenities and conveniences. Community amenities include a pool, spa, fitness center, basketball court, tennis court, clubhouse and covered parking. Josh McDonald and Joe Nydahl of CBRE represented the seller in the deal.
HOUSTON — Locally based developer PAGEWOOD has broken ground on Mosielee Commerce Park, a 429,698-square-foot speculative industrial project in northwest Houston. Located at 12020 State Highway 24, the 32-acre development will consist of a 274,766 square-foot, cross-dock building and a 154,932-square-foot, front-load building. Powers Brown Architecture is designing Mosielee Commerce Park, which is slated for an mid- to late-2025 completion. CBRE arranged construction financing for the project, and JLL has been retained as the leasing agent.
LAS VEGAS — Marcus & Millichap Capital Corp. (MMCC) has arranged separate refinancing transactions totaling $11.4 million for two multifamily communities in Las Vegas. Michael Derk of MMCC secured the loans for the private clients. MMCC arranged a $6.2 million loan for the refinancing for Maryland Park, a 135-unit apartment property at 1101 Dumont Blvd. The community offers a pool, laundry facilities, a courtyard, grill and picnic area. A local credit union provided the 10-year loan, which includes a 6 percent interest rate with a 30-year amortization and a loan-to-value ratio of 50 percent, to the undisclosed borrower. The firm also arranged $5.2 million for the refinancing of Katie Court Apartments, a 107-unit community at 3890 S. Cambridge St. On-site amenities include a pool and laundry facilities. A local credit union provided the 10-year loan, which includes a 6 percent interest rate with a 30-year amortization and a loan-to-value ratio of 50 percent, to the undisclosed borrower.
FONTANA, CALIF. — Brookfield has sold Slover & Elm Commerce Center, a Class A industrial facility at 15521 Slove Ave. in Fontana, to TA Realty for an undisclosed price. Constructed in 2022, the 192,794-square-foot Slover & Elm Commerce Center offers 23 dock-high doors, a clear height of 32 feet and a secure 182-foot truck court with ample truck and car parking. At the time of sale, the property was fully leased. Joe Cesta, Barbara Perrier, Eric Cox, Josh Hayes and Eloy Covarrubias of CBRE represented the seller in the deal.
CORPUS CHRISTI, TEXAS — Atlanta-based brokerage firm Hunter Hotel Advisors has arranged the sale of the 101-key Hampton Inn & Suites Corpus Christi. The hotel is located at 5879 South Padre Island Drive and offers amenities such as a pool and fitness center. Kami Burnette and Mason McDavid of Hunter Hotel Advisors represented the seller, Canada-based hospitality REIT American Hotel Income Properties, in the transaction. The buyer and sales price were not disclosed.
TUCSON, ARIZ. — Cushman & Wakefield | PICOR has arranged the sale of a flex building located at 1455 W. River Road in Tucson. Escalante Concrete Construction Inc. acquired the asset from 1455 River Rd LLC for $3.8 million. The 20,000-square-foot building was originally built for ITT Technical Institute. Greg Furrier and Natalie Furrier of Cushman & Wakefield | PICOR represented the seller, while Max Fisher of BRD Realty represented the buyer in the deal.
DOVE CREEK, COLO. — Pinnacle Real Estate Advisors has arranged the sale of a retail property located at 468 US-491 in Dove Creek. The asset traded for $1.4 million. Family Dollar and Dollar Tree currently occupy the 10,500-square-foot asset. Peter Sengelmann of Pinnacle Real Estate Advisors represented the buyer in the transaction.
AUSTIN, TEXAS —Rules-Based Medicine, a lab operator and division of Connecticut-based healthcare technology firm IQVIA, has renewed its office and life sciences lease at 3300 Duval Road in North Austin. Built on 7.1 acres in 2000, the facility is known as Stonecreek Park and totals 76,910 square feet. Nate Stricklen and Jay Austin of CBRE represented the tenant in the lease negotiations. Matt Frizzell and Kevin Granger of Cushman & Wakefield represented the landlord, Drawbridge Realty.