MURRIETA, CALIF. — HFF has arranged the $56.6 million sale of Murrieta Town Center, a 334,939-square-foot shopping center in the Southern California town of Murrieta. Bryan Ley, Gleb Lvovich and Justin Kundrak of HFF arranged the transaction on behalf of the seller, Jade Enterprises. An affiliate of U.S. Realty Partners acquired the asset. Murrieta Town Center was 81 percent occupied at the time of sale by Burlington, Rite Aid, Ross Dress for Less, Marshalls, Famous Footwear, Dollar Tree and Sizzler.
FOOTHILL RANCH, CALIF. — An affiliate of Menlo Equities LLC has received $39 million in financing for Towne Centre, a 292,271-square-foot office campus in the South Orange County submarket of Foothill Ranch. The Class A campus is located at 27042, 27051 and 27121 Towne Centre Drive. The property was renovated in 2016 and 2016. It is 77 percent leased to Ossur America, Rockwell Automation, Edward Jones, AVST, First National Capital, Fujitsu, Eagle Community Credit Union and Cox Communications. HFF’s Kevin MacKenzie, Greg Brown, Jamie Kline and Nick Lench arranged the five-year, floating-rate loan. Wells Fargo Bank provided the capital.
SEATTLE — Harborview Capital Partners has arranged five loans totaling $14.7 million for a 127-unit multifamily portfolio in Seattle. The Freddie Mac loans provided cash-out to the borrower and feature interest rates below 4 percent. Harborview’s Jeffrey Fuchs closed the loans.
BEVERLY HILLS, CALIF. — Charles Dunn Co. Has arranged the sale of a retail property located at 207-209 S. Robertson Blvd. In Beverly Hills. Pagani of Beverly Hills acquired the property from a Los Angeles-based limited liability company for $3.9 million. The buyer plans to renovate the 3,727-square-foot property and use it to showcase and sell its high-end supercars. Justin Mendelson and Joshua Berger of Charles Dunn Co. represented the buyer and advised the seller in the deal.
TUSTIN, CALIF. — Lee & Associates has brokered the sale of a retail building located at 535 E. Main St. within the Newport & Main Center in Tustin. Torrance, Calif.-based Rehka Bajaria & Farrand Investments sold the building to Tustin-based Ayala Capital Group for $2.5 million. The building features 4,748 square feet of space. Randy Dalby of Lee & Associates – North San Diego County and Tom Gioia of Lee Irvine represented the seller, while Silverpoint Advisors represented the buyer in the transaction.
MCKINNEY, TEXAS — Developer Shane Jordan will build Hub 121, a 22-acre mixed-use property that will be located within the Craig Ranch development in McKinney. The first phase of the project will deliver a 40,000-square-foot restaurant park with pedestrian walkways that connect to Independent Bank’s 400,000-square-foot headquarters and the development’s 2,500-unit residential community. Phase I will also deliver a 6,500-square-foot entertainment pavilion, 20,000 square feet of retail space and 287 residential units. Construction of Phase I will begin in January 2018, with the first restaurants scheduled to open in January 2019. Phase II will deliver a 200,000-square-foot office building, additional retail space and a hotel.
FORT WORTH, TEXAS — Hillwood has broken ground on Parkside at Alliance Town Center, a 3.5-acre dining and entertainment destination that will be located within the 900-acre AllianceTexas development in Fort Worth. Upon completion, the property will feature a live music stage and space for outdoor games. Two restaurants, Grub Burger Park and Shell Shack, have already committed to operating within the site, with more to come. Construction for the Grub Burger Park and Shell Shack locations is expected to be complete by summer 2018.
MANSFIELD, TEXAS — SteelTex, a division of Houston-based rubber and plastics producer Utex Industries, will relocate its manufacturing operations from the southern Fort Worth metro of Venus to Mansfield, due south of Arlington. The company will occupy a 135,000-square-foot industrial facility located at 102 Sentry Drive within Mansfield Industrial Park. Following the relocation, the company expects to expand its operation from 75 to 130 employees over the next five years.
PLANO, TEXAS — Hospitality REIT Ashford Hospitality Prime Inc. has sold Marriott Plano Legacy Town Center, a 404-room hotel located at 7121 Bishop Road in Plano, for $104 million. Built in 2001, the property features amenities such as a pool, fitness center, multiple dining options and 36,223 square feet of meeting space, and was sold at a cap rate of 7.7 percent. The buyer was not disclosed.
NORMAN AND TULSA, OKLA. — Harborview Capital Partners has closed a total of $16.1 million in acquisition financing for a 399-unit multifamily property in Norman and a 100-unit multifamily property in Tulsa. Jeffrey Fuchs of Harborview closed both deals. Fuchs also recently closed $1.7 million in refinancing for two retail properties in Lorenzo and Paducah, Texas, both of which are leased to Family Dollar. The names of the Oklahoma multifamily properties and the borrowers were not disclosed.