FARMERS BRANCH, TEXAS — Stream Realty Partners has brokered the lease of industrial space located at Mercer Business Park – Building 4 in Farmers Branch. Moore Supply Co., a distributor of plumbing products, has leased 105,800 square feet of space from Billingsley Development Corp. Eric Crutchfield and Ryan Boozer of Stream Realty Capital represented the tenant in the transaction.
DEL VALLE, TEXAS — Equitable Commercial Realty (ECR) has facilitated the sale of an industrial property located at 3039 E. Highway 71 in Del Valle, a suburb of Austin. The 28,840-square-foot property sold for an undisclosed price. Ryan Wilson of ECR represented the undisclosed buyer, while Clinton Sayers of Sayers Real Estate Advisors represented the undisclosed seller in the deal.
OKLAHOMA CITY — CBRE has arranged the lease of industrial space located at 11301 Partnership Drive in Oklahoma City. Omni Packaging Group, a distributor of shipping and packaging materials, is leasing 37,620 square feet of space from TOKC Northgate LLC. Jamie Hill, Barbara Mefford, John Lenochan, Jason Hammock and Caitlin Mazaheri of CBRE represented the tenant in the transaction.
HOUSTON — NAI Partners arranged the lease of retail space at 2859 Dulles Ave. in Missouri City, a suburb of Houston. Escape Games Fort Bend LLC leased the 1,750-square-foot entertainment venue space from SGRE Pecan Plaza Ltd. Jason Gaines of NAI Partners represented the landlord in the deal.
ATLANTA — The RADCO Cos. has purchased Legends of Dunwoody, a 532-unit, Class B apartment community located in Atlanta, for $60 million. The Atlanta-based multifamily investment firm will invest roughly $8.7 million on capital improvements and rebrand the property Radius Sandy Springs, the second community under RADCO’s Radius brand. RADCO Residential will manage the property, which is the 24th community that RADCO owns in metro Atlanta. RADCO financed the acquisition using a $50.4 million Freddie Mac loan and $21.6 million in private capital. The renovations will include unit interior upgrades, building repairs, a remodeled clubhouse, pool deck expansion, new pool, new dog park additions, exterior lighting upgrades, landscaping and a refurbished tennis court. Built in 1980, Radius Sandy Springs is situated in Atlanta’s Central Perimeter office submarket, home of State Farm’s new East Coast hub and the corporate relocation of Mercedes-Benz USA.
MIAMI — Cushman & Wakefield has arranged a relocation and lease expansion for Wells Fargo at Wells Fargo Center in downtown Miami. The long-term, 54,160-square-foot expansion is valued at $32 million and is downtown Miami’s largest office lease in 2016, according to Cushman & Wakefield. Wells Fargo will relocate its personal banking, small business banking, commercial banking and investment advisory services from Southeast Financial Center in downtown Miami in November 2017. The move increases Wells Fargo’s existing footprint at Wells Fargo Center from 96,656 square feet to 150,816 square feet. Built in 2010, Wells Fargo Center is a 47-story, 752,488-square-foot office tower that adjoins the JW Marriott Marquis Hotel and Hotel Beaux Arts. Brian Gale, Andrew Trench, Ryan Holtzman and Jeannette Mendoza of Cushman & Wakefield represented the building owner, Metropolitan Life Insurance Co., in the deal. David Preve of JLL represented Wells Fargo.
ORLANDO, FLA. — Bluerock Residential Growth REIT Inc. (BRG) has sold EOS Orlando Apartments, a 296-unit multifamily property located at 12221 E. Colonial Drive in Orlando. An undisclosed buyer purchased the asset from BRG for $52 million. The property includes studio, one- and two-bedroom residences featuring granite countertops, kitchen islands, wood flooring, washer and dryer units and balconies or patios in select units. Community amenities include a clubhouse with a kitchen and bar, cyber lounge, billiards, stand-up tanning bed, conference room, indoor mail center, pet walk and a two-story, 24-hour fitness center. Other amenities include courtyards with stack-stoned fireplaces, fountains, hammock havens and two “caves” with media zones and USB connectivity.
COLUMBIA, MD. — Washington, D.C.-based StoneBridge Investments has purchased Beech’s Farm, a 135-unit apartment community located in Columbia, roughly 21 miles southwest of Baltimore. StoneBridge acquired the asset from an entity controlled by McDowell Properties for $25.5 million. Built in 1985 along Eden Brook Drive, the apartment community is situated across the street from King’s Contrivance Village Center, a Harris Teeter-anchored shopping center. StoneBridge plans to renovate the property’s apartment interiors and add a fitness center. ZRS Management, an affiliate of StoneBridge, currently manages Beech’s Farm. CBRE’s Mid-Atlantic multifamily represented the seller in the transaction.
GERMANTOWN, TENN. — Epic Real Estate Partners has acquired Shops of Forest Hill, a 343,855-square-foot retail center located in the Memphis suburb of Germantown. Sprouts Farmers Market, Marshalls and Malco Cinemas anchor the center, which is also home to Mattress Firm, Sally Beauty, Hallmark, GNC, Mellow Mushroom, Allstate Insurance and Sherwin Williams. Jim Hamilton, Richard Reid, Brad Buchanan and Mike Allison of HFF represented the seller, a partnership between Boyle Investment Co. and Milton Schaeffer, in the transaction. Gregg Shapiro and Kyle Spencer, also of HFF, arranged a five-year acquisition loan with Wells Fargo Bank on behalf of Epic Real Estate Partners.
PORTLAND, ORE. — The Ashforth Co. and an unnamed institutional investor partner have sold Pacwest Center, a 30-story, 545,000-square-foot office tower in Portland’s central business district. The $170 million sale of Pacwest Center is Portland’s largest office transaction in 2016, according to HFF, which represented the seller in the transaction. HFF also procured the buyer, LPC Realty Advisors I LP, on behalf of a pension fund client. LPC Realty Advisors is an investment advisory affiliate of Dallas-based Lincoln Property Co. Completed in 1984, Pacwest Center is located at 1211 S.W. 5th Ave. within the 57-block Transit Mall, which has more than 1 million square feet of development currently underway. The office tower features parking for 413 vehicles through valet and self-parking and is an Energy Star-rated building. The new ownership plans to renovate PacWest Center by modernizing the common spaces, main lobby and shared amenities. The tower was 76 percent leased at the time of sale to tenants such as Merrill Lynch, Markowitz Herbold, Schwabe, Key Bank of Oregon and Perkins & Co. Nick Kucha and Michael Leggett led the HFF investment sales team. Based in Stamford, Conn., The Ashforth Co. owns, develops and invests in assets on the East …