Property Type

JLL Negotiates Sale of 3,300-Unit Self-Storage Portfolio in DFW

by Taylor Williams January 22, 2018

DALLAS AND FORT WORTH, TEXAS — JLL has negotiated the sale of a portfolio of six self-storage properties totaling more than 3,300 units located throughout the Dallas-Fort Worth (DFW) area. The Class A facilities were all built between 2001 and 2017 and total approximately 430,000 square feet. Features of the properties include a varying percentage of climate-controlled units, 24-hour video surveillance and perimeter fencing. California-based self-storage REIT Public Storage purchased the portfolio from a joint venture between Advantage Storage and Harrison Street Real Estate Capital. Steve Mellon and Brian Somoza of JLL brokered the deal.

January 22, 2018

Industrial Texas

HFF Arranges Sale of 68,300 SF Industrial Asset in Metro Houston

by Taylor Williams January 22, 2018

STAFFORD, TEXAS — HFF has arranged the sale of Stafford Commerce Center, a 68,300-square-foot, Class A distribution warehouse in the southwestern Houston metro of Stafford. Built in 2016, the property features 24-foot clear heights, a 130-foot truck court, 14 dock-high loading doors and 8,548 square feet of office space. The property was fully leased at the time of sale to Quest Design & Fabrication, which designs and produces sales and welcome centers for retail companies. Trent Agnew, Rusty Hamlyn and Charlie Strauss of HFF represented the seller, Houston-based Black Flag Properties, in the transaction. An affiliate of STAG Industrial Inc., a Boston-based REIT, acquired the property for an undisclosed price.

January 22, 2018

Office Texas

Transwestern Secures Three Office Leases Totaling 163,834 SF in Metro Dallas

by Taylor Williams January 22, 2018

FARMERS BRANCH, TEXAS — Transwestern has secured a trio of office leases totaling 163,834 square feet at Two Colinas Crossing, a 181,072-square-foot, Class A office property in Farmers Branch. IBM leased 66,018 square feet; Home Point Financial leased 64,788 square feet and an undisclosed financial services firm leased 33,028 square feet. The property, which is now 98 percent occupied, was completed in 2000 and fronts a 110-acre lake with a 10-mile trail system. Duane Henley and Nathan Durham of Transwestern represented the landlord, an affiliate of New York-based REIT Lexington Realty Trust.

January 22, 2018

Hospitality Texas

Condor Acquires 122-Room TownePlace Suites Hotel in Austin for $19.7M

by Taylor Williams January 22, 2018

AUSTIN, TEXAS — Condor Hospitality Trust Inc., a Maryland-based, publicly traded hospitality REIT, has acquired a 122-room TownePlace Suites hotel located in the North Tech Ridge submarket of Austin. The purchase price of the Marriott-branded asset was approximately $19.7 million. Aimbridge Hospitality will continue to manage the pet-friendly property, which features 24-hour fitness and business centers and an outdoor pool with a fire pit.

January 22, 2018

Office Texas

Marcus & Millichap Brokers Sale of 11,200 SF Office Building in San Antonio

by Taylor Williams January 22, 2018

SAN ANTONIO — Marcus & Millichap has brokered the sale of 12414 Nacogdoches Road, an 11,200-square-foot office property in northeast San Antonio. The two-story property consists of seven suites totaling 8,800 square feet of net rentable space. Joshua Murphy of Marcus & Millichap represented the seller and procured the buyer, both of which were undisclosed limited liability companies.

January 22, 2018

California Multifamily Seniors Housing Western

Construction Begins on 510-Unit CCRC in San Diego

by Nellie Day January 22, 2018

SAN DIEGO — Construction has begun on The Glen at Scripps Ranch, a 510-unit continuing care retirement community (CCRC) in San Diego. KTGY Architects designed the property, located in the Scripps Ranch neighborhood of the city. The community will feature 62 freestanding independent living villas, 48 garden terrace-style independent living apartments, 290 standard independent living apartments, 58 assisted living units (including memory care) and 52 skilled nursing beds. Continuing Life, based in nearby Carlsbad, will provide business and advisory services for the 53-acre property. The community has been in the planning and approvals phase since 2010, and is slated for completion in late 2019.

January 22, 2018

California Hospitality Western

Montage Hotels & Resorts Announces Plans for 130-Room Hotel in Sonoma County

by Nellie Day January 22, 2018

HEALDSBURG, CALIF. — Montage Hotels & Resorts has unveiled plans for Montage Healdsburg, a 130-room hotel in the Sonoma County city of Healdsburg.Construction is scheduled to start in spring 2018. The 258-acre resort will feature bungalow-style accommodations, Spa Montage, an infinity pool overlooking the resort’s vineyards and Montage’s children’s program called Paintbox. The new hotel will open in 2020. The Robert Green Company is developing the property. Ohana Real Estate Investors will be the owner, and Montage Hotels & Resorts will operate the asset.

January 22, 2018

Multifamily New Mexico Western

CFH Investment Partners Buys 456-Unit Apartment Complex in Albuquerque

by Nellie Day January 22, 2018

ALBUQUERQUE, N.M. — CFH Investment Partners has purchased the 456-unit Diamond Mesa apartment community in southwest Albuquerque for an undisclosed sum. The community is located at 2300 Diamond Mesa Trail SW. Diamond Mesa was built in 2015. It is situated near one of six Facebook data centers currently under construction just south of Albuquerque. Property amenities include a social lounge with game tables, resort-style pool area, fitness facility, business center and a barbeque grilling area. Each of the one- to three-bedroom units includes nine-foot ceilings, patios and balconies, and full size washers and dryers. Select units include walk-in closets and a separate laundry room. CBRE arranged the transaction.

January 22, 2018

Colorado Multifamily Seniors Housing Western

Greystone Brokers $31.3M Sale of 188-Unit Affordable Community in Denver

by Nellie Day January 22, 2018

DENVER — Greystone’s Real Estate Advisors group has arranged the sale of Juanita Nolasco Apartments, a 188-unit affordable seniors housing community in Denver. Jonathan Rose Cos. acquired the property from a limited liability company for $31.3 million. Greystone’s Aaron Hargrove and Eric Taylor represented the seller. The 13-story Juanita Nolasco Apartments was built in 1972 and rehabilitated in 2008 via 4 percent Low Income Housing Tax Credits.

January 22, 2018

California Retail Western

Faris Lee Arranges $15M Sale of CVS/Pharmacy-Anchored Center in Huntington Beach

by Nellie Day January 22, 2018

HUNTINGTON BEACH, CALIF. — Faris Lee Investments has arranged the $15 million sale of CVS Beach Garfield Center, a 31,140-square-foot retail property anchored by a freestanding CVS/Pharmacy in Huntington Beach. Shaun Riley of Faris Lee arranged the transaction on behalf of the buyer, 209 N. Brand Blvd. LP. Triwell Properties represented the seller, Sampont Properties LLC. In addition to CVS/Pharmacy, the center is home to tenants including Starbucks Coffee, O’Reilly Auto Parts, Verizon Wireless and Bank of America. The property was fully leased at the time of sale.

January 22, 2018

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