Property Type

IPA Brokers Sale of 288-Unit Apartment Community in Rio Grande Valley

by Taylor Williams October 23, 2017

HARLINGEN, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Vantage at Harlingen, a 288-unit multifamily community located at 902 S. Palm Court Drive in the Rio Grande Valley city of Harlingen. Will Balthrope, Jordan Featherston and Joey Tumminello of IPA represented the undisclosed seller and procured the buyer, Presidium. The three-story property was built in 2015 and offers amenities such as a pool, fitness and business centers, a picnic area and an Internet café with a Starbucks.

October 23, 2017

Bell Partners Venture Acquires Escape at Ken Caryl Apartments in Littleton for $64M

by Nellie Day October 23, 2017

LITTLETON, COLO. — A venture sponsored by Bell Partners has acquired the 250-unit Escape at Ken Caryl apartment community in Littleton for $64 million. The community is located at 12044 W. Ken Caryl Circle within the Ken Carl Ranch Master Association. The master-planned development features 3,800 acres of private open space, more than 25 miles of trails and The Ranch House, which includes tennis courts, outdoor 25-meter swimming pool, soccer fields, disc golf course, sand volleyball court and equestrian center. The asset is also situated near the Denver Technological Center business corridor. Terrance Hunt, Shane Ozment, Jeff Hawks, Doug Andrews and Chris Cowan of ARA Newmark represented the seller, TA Realty, in this transaction.

October 23, 2017

Loans Multifamily Texas

LMI Capital Arranges $18.9M Green Loan for Apartment Community in Houston

by Taylor Williams October 23, 2017

HOUSTON — LMI Capital has arranged $18.9 million in green financing for a 370-unit apartment community located in the Woodlake/Briar Meadow area of Houston. Jamie Mullin of LMI Capital arranged the loan, which features a 4.3 percent interest rate and four years of interest-only payments. The undisclosed borrower will use proceeds from the loan for cash-out purposes.

October 23, 2017

Industrial Texas

NAI Partners Secures 31,688 SF Industrial Lease in Houston

by Taylor Williams October 23, 2017

HOUSTON — NAI Partners has secured a 31,688-square-foot industrial lease at 401-421 W. Crosstimbers St. in Houston on behalf of Houston Installation Services Inc., a furniture installation and relocation services firm. Jake Wilkinson of NAI represented the tenant in the negotiations. The duration of the lease, landlord and representative of the landlord were not disclosed.

October 23, 2017

California Retail Western

NKF Brokers $38.1M Sale of Grocery-Anchored Center Near Los Angeles

by Nellie Day October 23, 2017

DUARTE, CALIF. — Newmark Knight Frank (NKF) has arranged the $38.1 million sale of Buena Vista Marketplace, a 92,346-square-foot retail center in Duarte, 21 miles northeast of Los Angeles. Pete Bethea, Rob Ippolito and Glenn Rudy represented the seller, Weingarten Realty, in the transaction. The buyer, Gerrity Group, represented itself. Smart & Final anchors Buena Vista Marketplace, which was 98.5 percent leased at the time of sale to tenants including Dollar Tree, Wells Fargo, AT&T, UPS, Subway, Flame Broiler and Jamba Juice.

October 23, 2017

California Retail Western

Faris Lee Arranges $3.5M Sale of Two-Tenant Retail Building in Moreno Valley

by Nellie Day October 23, 2017

MORENO VALLEY, CALIF. — Faris Lee Investments has arranged the $3.5 million sale of a 6,440-square-foot retail building in Moreno Valley. The property was triple-net-leased to TitleMax and Coast Dental at the time of sale. Patrick Toomey and Matt Brooks of Faris Lee Investments represented the seller, TC Enterprise LLC, in the transaction. Realty ONE Group represented the buyer, Perrishemlock LLC. The property was renovated in 2015 and is located within a larger center that is home to CVS/pharmacy and Dollar Tree.

October 23, 2017

Nevada Restaurant Retail Western

Pollo Campero Opens Second Las Vegas Location

by Nellie Day October 23, 2017

LAS VEGAS — Pollo Campero has opened its newest restaurant in Las Vegas, marking the second Las Vegas location and 75th location nationwide. The new restaurant is the second Pollo Campero for GSK 3 Investments, which is owned by franchisees Maria Enamorado and her sons, Gurpaul and Gurdev Kular. In April, GSK 3 Investments opened Nevada’s first Pollo Campero restaurant in North Las Vegas. The latest restaurant opening is part of Pollo Campero’s strategic development plan focused on strengthening its footprint in existing markets and opening new restaurants in key cities in the United States through corporately owned and franchised units. As part of its franchising agreement, GSK 3 Investments will open a third Las Vegas Pollo Campero restaurant in the near future. Pollo Campero is a chicken restaurant brand founded in 1971 in Guatemala.

October 23, 2017

Iowa Midwest Retail

Outlets of Des Moines Opens in Altoona, Iowa

by Kristin Harlow October 23, 2017

ALTOONA, IOWA — New England Development has opened Outlets of Des Moines in Altoona. The region’s first outlet center features retailers such as ASICS, Nike Factory Store, Express Factory Store, francesca’s, LOFT Outlet, Converse, Tommy Hilfiger, Under Armour, Vera Bradley, Levi’s, Brooks Brothers and Le Creuset. A ribbon-cutting ceremony took place on Friday, Oct. 20. The construction phase created about 500 jobs and the outlet center is expected to generate an additional 800 jobs, according to New England Development. The development is expected to generate about $100 million in annual retail sales. The property is located at 801 Bass Pro Drive near I-80. A video recap of opening weekend can be found here.

October 23, 2017

Illinois Midwest Office

PREMIER Completes 51,000 SF Office Headquarters for Echo in Lake Zurich, Illinois

by Kristin Harlow October 23, 2017

LAKE ZURICH, ILL. — PREMIER Design + Build Group LLC has completed a 51,000-square-foot office headquarters for Echo Inc. in Lake Zurich, about 40 miles northwest of Chicago. The manufacturer of power equipment already occupies an existing industrial facility at the site. In addition to a two-story lobby, the property features 14 private offices on the first floor and 27 offices on the second floor. A new training and conference area can accommodate more than 100 people. Mark Melone, Samantha Skopek and Tom Johnson led the project team on behalf of PREMIER. The project team also included architect Stephen Rankin Associates, structural engineer Structurelogic Inc. and civil engineer Kimley-Horn.

October 23, 2017

Loans Midwest Missouri Multifamily

NorthMarq Arranges $7.6M Refinancing for Apartment Property in Arnold, Missouri

by Kristin Harlow October 23, 2017

ARNOLD, MO. — NorthMarq Capital has arranged a $7.6 million Freddie Mac loan for the refinancing of Richardson Place Apartments in Arnold, about 18 miles south of St. Louis. The 162-unit apartment property is located at 105 Richardson Place Drive. David Garfinkel of NorthMarq arranged the 10-year loan. The borrower was not disclosed.

October 23, 2017

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