SAN FRANCISCO — Vanbarton Group has purchased a 117,000-square-foot office building in San Francisco for $83 million. The 15-story tower is located at 115 Sansome St. It is fully leased. The property was built in 1912 as the Standard Oil Co. headquarters. The seller, TA Realty, had converted more than 70 percent of the building to creative office space. JLL’s Michel Seifer and Erik Hanson represented TA Realty in the transaction.
PHOENIX — An affiliate of Cohen Asset Management has purchased a 452,271-square-foot industrial facility in Phoenix for $33.5 million. Breakthru Beverage Group occupies the entire property. The facility is located at 1115 S. 47th Ave. in West Phoenix. The beverage company recently signed a new 15-year lease at the space. Cohen Asset Management purchased the property in a double escrow transaction from Breakthru. Breakthru acquired the property through a 2011 purchase option agreement with then-owner Crexus AZ Holdings 1 LLC. Don and Payson MacWilliam of Colliers International executed the transaction.
SAN JOSE, CALIF. — A partnership between Trammell Crow Company and Principal Real Estate Investors has completed construction of MidPoint@237, a 563,000-square-foot manufacturing project in San Jose. The three-building project is situated at North 1st Street and Nortech Parkway at the top of Silicon Valley’s Golden Triangle. Rob Shannon and Chip Sutherland of CBRE marketed the Class A project. The architect is ARC TEC Inc. and the general contractor is Lusardi Construction Co.
LOS ANGELES — NSB Associates has purchased a 59,395-square-foot office building in El Segundo for an undisclosed sum. The Class B building is located at 181-185 S. Douglas St. in the Los Angeles submarket. NSB represented itself in the transaction, while Alan Pekarcik and Chris Smith of Avison Young represented the seller, an institutional investor.
ATLANTA — Master developers Majestic Realty Co. and Carter have announced plans for a $350 million mixed-use project at Hartsfield-Jackson Atlanta International Airport. Phase I of the project will include an 11-story, 440-room hotel that features a restaurant in the lobby, 80,000 square feet of conference/meeting space, a skybar on the 10th floor that overlooks the airport’s runway, 750 parking spaces and an additional 60,000 square feet of Class A office space. Visitors and hotel guests will have direct access to MARTA and the airport’s SkyTrain service. Majestic Realty and Carter are currently in discussions with InterContinental Hotels Group to serve as the operator of the four-star facility, which will be situated directly west of the domestic terminal. The hotel will be connected to the domestic terminal via a new plaza. Phase II of the project will feature two additional hotels built on 13 acres just west of Phase I. The design stage is expected to begin in 2017 with construction slated to start by early 2018. In 2015, Majestic Realty and Carter signed a 50-year lease for the 26.5-acre site with the city of Atlanta. The master development is part of the airport’s $6 billion ATLNext Initiative.
NEW YORK CITY — Eastern Union Funding and Greystone & Co. have arranged a $105 million loan for a New York-based owner-operator. The loan will be used to partially fund the $120 million acquisition of 12 skilled nursing facilities and one assisted living community in eastern Kentucky. The portfolio totals 1,239 beds and was 95 percent occupied at the time of sale. The seller was not disclosed. Phil Krispin and C.J. Danziger of Eastern Union, along with Greystone’s Jonathan Coven, secured the financing from several regional banks in the eastern United States. The loan includes flexible prepayment terms to allow for an FHA exit.
ATLANTA — Skanska USA has topped out the vertical construction of 3400 Overton, a 175,000-square-foot, Class A office building in Atlanta’s Cumberland/Galleria office submarket. Skanska USA is constructing the property on behalf of the developers, TPA Group and USAA Real Estate Co. Situated at the corner of Akers Mill Road and Cumberland Boulevard, the seven-story building will overlook SunTrust Park and the Battery Atlanta, which are both set to open in April 2017. Heery International Design designed 3400 Overton to feature open floor plates and floor-to-ceiling glass. Skanska USA is on track to deliver the office building in June 2017.
DANIA BEACH AND NORTH MIAMI BEACH, FLA. — West Bay Capital, a Los Angeles-based private lender, has provided two loans totaling $1.8 million for the acquisition of two restaurant properties in South Florida currently leased to Checkers, a fast-food burger chain. The drive-thru restaurants are located in Dania Beach and North Miami Beach. As part of the acquisition, the undisclosed borrower recently executed 20-year leases with a Checkers franchisee at both locations. The financing, which represented roughly 90 percent of the purchase price and reflected the value of the new lease agreements, included a $1 million loan for the North Miami Beach restaurant and a $810,000 loan for the Dania Beach location.
FRISCO, TEXAS — Bell Partners Inc. has purchased Orion Frisco, an apartment community located in Frisco, for an undisclosed sum. The buyer has renamed the property Bell Frisco at Main. Built in 2012, the 12-building community features 360 units, with an average unit size of 887 square feet. Apartments features high ceilings with crown molding, black Whirlpool appliances, custom cabinets with under-cabinet lighting and brushed nickel features, kitchen pantries and modern track and pendant lights. Additionally, apartments feature garden tubs, walk-in closets, full-size washer/dryer connections and patios or balconies. On-site amenities include a Starbucks Coffee Bar, clubhouse with business center, central park, jogging trail, children’s activity area, dog park, 24-hour fitness center, outdoor Wi-Fi lounge, resort-style swimming pool with a tanning deck and 120 rentable carports.
DENTON, TEXAS — Fidelis Realty Partners has purchased Rayzor Ranch Marketplace, a retail property located at the corner of State Highway 380 and I-35 in Denton, for an undisclosed price. Academy Sports + Outdoors, Ross Dress for Less, Petco, Jo-Ann Fabric and Crafts, Boot Barn and Guitar Center are tenants at the 252,000-square-foot retail center, while the overall center contains 641,000 square feet of retail space, including the Walmart, Sam’s Club and Kohl’s shadow anchors. Additionally, the acquisition included 18 acres of land for future development. The name of the seller was not released.