HOLLYWOOD, CALIF. — CBRE has arranged the sale a restaurant property located at 7001 Santa Monica Blvd. in Hollywood. A private real estate investor and developer acquired the asset from a private family trust for $8 million. The half-acre site features a 5,410-square-foot restaurant occupied by Shakey’s Pizza Parlor. Alex Kozakov, Patrick Wade and Fred Aframian of CBRE represented the seller and the buyers in the deal.
SANTEE, CALIF. — Cushman & Wakefield has negotiated the sale-leaseback of a 21,500-square-foot property occupied by Chuze Fitness in the San Diego suburb of Santee. The price was not disclosed. Paragon Properties acquired the property, located within Santee Town Center, from Chuze Fitness. Chad Lafrate and Kevin Held of Cushman & Wakefield represented Chuze Fitness in both the sale and lease transactions.
DEL MAR, CALIF. — GLL Real Estate Partners’ Del Mar Plaza has reached 90 percent occupancy following a joint repositioning effort with JLL. The 74,631-square-foot open-air center is located at 1555 Camino Del Mar in Del Mar. New tenants include Salon Republic, Union Bank, Del Mar Rendezvous, Momma’s Medi Spa, Del Mar Nails, PS Platinum, Kitchell Development and Fine Magazine. Each new tenant is slated to open by summer 2017. Craig Killman and Corinna Gattasso of JLL are handling leasing at the center.
DALLAS — Civitas Capital Group, along with StoneGate Senior Living, has opened Simpson Place, an affordable seniors housing facility in Dallas. The $15 million, 95,000-square-foot property offers 150 assisted living units. The development was financed through a public-private partnership involving the Dallas Housing Authority, City of Dallas, Federal Home Loan Bank, Amegy Bank, StoneGate Senior Living and City of Dallas Regional Center.
PLANO, TEXAS — Kodiak Capital Advisors has acquired a newly constructed retail property located at the southeast corner of West Plano Parkway and West Park Boulevard in Plano. The company purchased the property by utilizing the Delaware Statutory Trust (DST) 1031 exchange structure. Hobby Lobby occupies the 54,370-square-foot property. The name of the seller and acquisition price were not released. This transaction is one of North Texas’ first DST acquisitions by a Dallas-based sponsor. A DST is an ownership structure that is created for business purposes, which can also be referred to as an unincorporated business trust. It is offered as a 1031 exchange replacement property for accredited investors seeking to defer capital gains taxes and as a straight cash investment for investors wishing to diversify real estate holdings.
HOUSTON — Baker Katz has brokered two leases on behalf of San Francisco-based The Melt, a fast-casual restaurant, for the company’s first-to-market locations in Texas. The restaurant chain will open its first location at The Lawn at Houston’s Baybrook Mall on Nov. 21, and the second location is slated to open in spring 2017 at the Vintage Marketplace Restaurant Village. The locations in Texas mark The Melt’s third market expansion. The restaurant currently has locations in California and Colorado.
RICHARDSON, TEXAS — NAI Robert Lynn has arranged two office leases totaling 13,911 square feet in Richardson. In the first deal, Apollo Managing General Agency LLC leased 9,501 square feet of office space at 2425 Central Expressway. Kent Smith of NAI Robert Lynn represented the tenant, while Laura Maczka of Sooner National represented the undisclosed landlord. In the second transaction, Kruvand Associates Inc. leased 4,490 square feet of office space at 1201 Richardson Drive. Smith represented the tenant, while Bill Rudd of Haggard Property Group represented the undisclosed landlord.
HOUSTON — CBRE has arranged an office relocation for Thompson & Knight LLP from 333 Clay St. to BG Group Place at 811 Main in Houston. The law firm will occupy two-and-a-half floors at the 900,000-square-foot office building. Kevin Kushner, Charles Gordon and Lucian Bukowski of CBRE represented the tenant in the lease transaction.
NEW YORK CITY — Eastern Consolidated has arranged refinancing loans for six multifamily properties in Manhattan in two separate transactions totaling $32.4 million. Jonathan Aghravi and Charles Han of Eastern Consolidated handled the loan placements with Amalgamated Bank. The first loan was a seven-year, $20 million refinancing for five mixed-use buildings, featuring 44 residential units and eight commercial units, located at 420, 422, 424, 426 and 428 Amsterdam. The second loan was a seven-year, $12.4 million refinancing for a newly renovated 28-unit multifamily property located at 44-46 E. End Ave.
NEW YORK CITY — Kalmon Dolgin Affiliates (KDA) has arranged the sales of sites at a sub-divided industrial complex located in Staten Island’s Mariners Harbor district to two Brooklyn-based buyers for a total of $13 million. Gary Mayzlin of KDA represented the seller, 135 Lake Avenue Realty LLC, and buyers in transactions. World Wide Plumbing acquired the property at 125 Lake Avenue, which features seven industrial acres and 100,000 square feet of warehouse buildings; and, Royal Seafood Baza Inc. purchased the property at 175 Lake Avenue, which consists of a 50,000-square-foot industrial warehouse with 40,000 square feet of parking.