Property Type

Cushman & Wakefield Arranges $26.5M Sale of 17.7-Acre Retail Site in Carlsbad

by Nellie Day April 20, 2017

CARLSBAD, CALIF. — Cushman & Wakefield has arranged the $26.5 million sale of a retail site in the San Diego suburb of Carlsbad. Shea Properties LLC/Shea Homes San Diego LP acquired the 17.7-acre undeveloped land tract in the city’s Bressi Ranch area and plans to construct a mixed-use development. The property consists of lots 29 through 32 in Bressi Ranch. Aric Starck and Dennis Visser of Cushman & Wakefield’s Carlsbad office represented the buyer and seller in the transaction. The development will consist of 125 luxury condominiums, a food market, drive-through drug store and other retail shops along Palomar Airport Road. The retail center will feature a Main Street-like entry leading to shops, services and restaurants. It will be accented by patios, plazas, terraces and courtyards.

April 20, 2017

California Retail Western

Redevelopment Completed at Peninsula Shopping Center in Rolling Hills Estates

by Nellie Day April 20, 2017

ROLLING HILLS ESTATES, CALIF. — An 18-month redevelopment has been completed at Peninsula Shopping Center in Rolling Hills Estates. The parties involved in the redevelopment were not disclosed. In addition, new stores have opened at the center including Orchard Supply Hardware (OSH), Petco, Ulta Beauty, The Bar Method, AT&T, Verizon, The Habit Burger Grill and Chipotle. Mod Pizza will open this summer. The redevelopment increased the center’s size by 16,579 square feet, which included the addition of three new retail/restaurant pads. The changes also included demolishing the existing pedestrian colonnade and constructing a drive aisle in its place, reconfiguring parking and circulation facilities, creating new junior anchor spaces and improving sidewalks.

April 20, 2017

California Multifamily Western

Oakwood Worldwide Debuts Olympic & Olive Apartments in Downtown LA

by Nellie Day April 20, 2017

LOS ANGELES — Oakwood Worldwide has opened the 201-unit Oakwood Olympic & Olive apartment complex in downtown Los Angeles. The newly constructed corporate housing asset is located at 1001 S. Olive St. The mid-rise property features a sky lounge, downtown views from the pool deck and townhomes with front-door stoops along Olive Street. It offers furnished and unfurnished apartment options ranging from studio to two-bedroom layouts with open-concept living areas. The units feature quartz countertops, glass-tile backsplashes, stainless steel appliances, gas ranges, 10-foot ceilings and in-unit washers and dryers. Oakwood Olympic & Olive is Oakwood Worldwide’s third branded property in Los Angeles. Oakwood’s parent company is Mapletree Investments.

April 20, 2017

Colorado Multifamily Western

Rivendell Global Real Estate Buys Multifamily Community in Boulder for $15.6M

by Nellie Day April 20, 2017

BOULDER, COLO. — Rivendell Global Real Estate has acquired a 26-unit apartment community in Boulder known as 17-Walnut for $15.6 million. The community is situated in the East End corridor of downtown. The sale closed at $654 per square foot, the highest price for a multifamily community within 750 miles of the property, according to ARA Newmark, which represented the seller, Element Properties, in this transaction. Nearby office activity includes Twitter moving into a new 60,000-square-foot space and Google building a $150 million campus set to house 1,500 employees. The community was built in 2015. Community amenities include heated underground parking, bike storage and repair shop, private courtyard with barbecue grills, dog wash, and lobby with Wi-Fi, coffee bar and breakfast service.

April 20, 2017

California Multifamily Western

Nine-Unit Apartment Building in Northridge Sells for $1.9M

by Nellie Day April 20, 2017

NORTHRIDGE, CALIF. — 8351 Amigo Apartments LLC has acquired a nine-unit apartment building in Northridge for $1.9 million. The community is located at 8351 Amigo Ave. It was built in 1962. The property contains one- and two-bedroom units. Clyde Isaacson of Marcus & Millichap represented the buyer. The seller was not disclosed.

April 20, 2017

Industrial Texas

ExxonMobil, SABIC to Build $10B, 1,300-Acre Plastics Plant in San Patricio County

by Taylor Williams April 20, 2017

CORPUS CHRISTI, TEXAS — Gulf Coast Growth Ventures, a joint venture between ExxonMobil Corp. and Saudi Arabia Basic Industries Corp. has proposed plans to build a $10 billion, plastics manufacturing complex along the Gulf Coast in south Texas. The 1,300-acre plant, which would be the world’s largest ethylene production center and could come on line as early as 2020, will be located in San Patricio County. Construction of the plant is expected to create 6,000 jobs. Upon completion, the plant is projected to create an additional 3,500 jobs.

April 20, 2017

Hospitality Texas

Aimbridge Releases Plans for Eight-Acre Craig Ranch Resort and Conference Center in McKinney

by Taylor Williams April 20, 2017

MCKINNEY, TEXAS — Aimbridge Hospitality, a Texas-based hotel investment and management firm, has released plans for the Craig Ranch Resort and Conference Center, a hospitality development that will be situated on eight acres at the corner of Collin McKinney Parkway and Weiskopf Avenue in McKinney. The property, which will feature 285 rooms and 33,000 square feet of meeting space, will be part of the 2,200-acre, master-planned Craig Ranch development.

April 20, 2017

Retail Texas

Finial Group Acquires 31,133 SF Retail Center in Cypress, Texas

by Taylor Williams April 20, 2017

CYPRESS, TEXAS — An affiliate of Finial Group LLC has acquired Lakes of Riata, a 31,113-square-foot, multi-tenant retail property in Cypress, a northeastern suburb of Houston. Located at 10750 Barker Cypress Road near State Highway 290, the center is currently leased to tenants such as Subway and Shipley Do-nuts.

April 20, 2017

Retail Texas

Marcus & Millichap Brokers Sale of 70,960 SF Retail Property Leased to Harley-Davidson in Bedford

by Taylor Williams April 20, 2017

BEDFORD, TEXAS — Marcus & Millichap has brokered the sale of a 70,960-square-foot, newly constructed retail property located at 1 Texas Harley Way in the Dallas-Fort Worth metro of Bedford. The property is currently leased to Harley-Davidson, which operates a dealership on-site. Philip Levy of Marcus & Millichap represented the buyer and seller, both of whom were private investors, in the transaction.

April 20, 2017

Florida Retail Southeast

Cushman & Wakefield Brokers $29.6M Sale of Publix-Anchored Center in Broward County

by John Nelson April 20, 2017

POMPANO BEACH, FLA. — Cushman & Wakefield has brokered the $29.6 million sale of Pompano Plaza, a 126,928-square-foot grocery-anchored shopping center located at 1405 S. Federal Highway in Pompano Beach. Echo Realty purchased the property from Pompano Plaza Ltd. Originally developed in 1973, the shopping center was redeveloped in 2006 when a portion of the original structure was demolished to make way for a new Publix store. Pompano Plaza was fully leased at the time of sale to tenants including Marshalls, Office Depot and Tuesday Morning. Mark Gilbert, Adam Feinstein and Mitchell Halpern of Cushman & Wakefield’s Miami office represented the seller in the transaction.

April 20, 2017

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