Property Type

Dekel Capital Arranges $25.4M Loan for 106-Unit Seniors Housing Community in Tucson

by Nellie Day January 17, 2017

TUCSON, ARIZ. — Dekel Capital, a Los Angeles-based real estate merchant bank, has arranged $25.4 million in financing for the development of Sage Tucson, an assisted living and memory care project in the Casas Adobes submarket of Tucson. The deal was capitalized with a $17 million construction loan arranged through Dekel’s advisory practice and $8.4 million joint-venture equity funded by the firm’s proprietary equity fund, Dekel Strategic Investors (DSI). The property will include 86 assisted living units and 20 memory care units in a two-story structure located on 9.6 acres. Construction began in late 2016 for completion in early 2018. This is the third investment Dekel has made with the borrower, Willis Development.

January 17, 2017

California Industrial Western

Crow Holdings Industrial Buys 120,000 SF Industrial Facility in Long Beach

by Nellie Day January 17, 2017

LONG BEACH, CALIF. — Crow Holdings Industrial has purchased a 120,000-square-foot industrial building in the Long Beach submarket of Rancho Dominguez. The purchase price was not disclosed. The facility is located at 3025 E. Victoria St., approximately seven miles from the ports of Long Beach and Los Angeles. Frank Schulz, Todd Taugner and David Prior of Klabin Co. and Rick Putnam and Bret Hardy of Colliers International represented both the buyer and seller, TA Associates Realty, in this transaction.

January 17, 2017

California Retail Western

IKEA to Relocate LA-Area Store in February

by Nellie Day January 17, 2017

BURBANK, CALIF. — IKEA’s relocated Los Angeles-area store within Burbank will open on Feb. 8, replacing the existing IKEA Burbank that will close permanently on Feb. 4. The 456,000-square-foot new store will include 1,700 parking spaces on 22 acres west of San Fernando Boulevard and south of Providencia Avenue. The closing store was 242,000 square feet and opened on 6.4 acres in 1990, the first IKEA store in California. IKEA will install a solar array atop the new store, as well as six electric vehicle charging stations. IKEA was founded in Sweden in 1943. There are currently more than 390 IKEA stores in 48 countries, including 43 in the U.S.

January 17, 2017

Industrial Office Retail Texas

Gupta Partners Acquires 276,000 SF Flex Property in Houston

by Amy Works January 17, 2017

HOUSTON — Gupta Partners has acquired Beltway 8 Industrial Park, a nine-building flex property located at 5829 W. Sam Houston Parkway North in Houston, for an undisclosed price. The 276,000-square-foot property offers flex space ranging from 2,400 to 12,000 square feet for small businesses. Jace Auto Wheel and Tire Specialists and Lumber Liquidators, as well as retailers, professional offices, healthcare providers, technology/communications firms and wholesale service companies, occupy the property. Bradley Kovach of Moody Rambin represented the buyer, while Jim Authenreith, also of Moody Rambin, represented the seller, a California-based investment group, in the deal.

January 17, 2017

Office Texas

Colliers Negotiates Sale of 49,865 SF Office Building in Houston

by Amy Works January 17, 2017

HOUSTON — Colliers International has arranged the sale of an office building located at 10555 Richmond Ave. in Houston. US Harmony LLC acquired the four-story, 49,865-square-foot building from Zenith Equity Group for an undisclosed price. At the time of sale, the multi-tenant building was fully occupied. David Carter of Colliers represented the seller in the deal.

January 17, 2017

Retail Texas

Marcus & Millichap Arranges Sale of 32,012 SF Retail Property in Arlington

by Amy Works January 17, 2017

ARLINGTON, TEXAS — Marcus & Millichap has brokered the sale of Courtside Plaza, a retail property located at 5920 W. Interstate 20 in Arlington. Tuesday Morning anchors the 32,012-square-foot center. At the time of sale, the property was fully leased to a mix of national, regional and local tenants. Vincent Knipp and Bill Jordan of Marcus & Millichap represented the seller, a limited liability company. The name of the buyer and the acquisition price were not released.

January 17, 2017

Industrial Office Texas

Crestone Group Renews Leases 70,531 SF of Commercial Space in Metro Dallas

by Amy Works January 17, 2017

GRAPEVINE, TEXAS — Crestone Group has decided to keep its Southwest regional commercial bakery and distribution center at Heritage Business Park in metro Dallas by leasing 70,531 square feet of commercial space at the property. The company signed a long-term lease for space at Heritage Building 6, located at 800 Industrial Blvd. in Grapevine. Michael Spain and Nick Talley of Bradford Commercial Real Estate Services represented the landlord, KTR DFW LLC, while Michael Stanzel of NAI Robert Lynn represented the tenant in the deal.

January 17, 2017

Restaurant Retail Texas

EDGE Capital Markets Brokers Sale of Restaurant Property in Houston

by Amy Works January 17, 2017

HOUSTON — EDGE Capital Markets has arranged the sale of a restaurant property located at 13740 East Freeway in Houston. Montgomery Land Co. acquired the property for an undisclosed price. Whataburger occupies the site on a long-term, triple-net corporate ground lease. Burdette Huffman and Kevin Holland of EDGE represented the undisclosed seller.

January 17, 2017

Industrial Midwest Wisconsin

Cushman & Wakefield Arranges Sale of 173,000 SF Industrial Building in Kenosha, Wisconsin

by Kristin Harlow January 17, 2017

KENOSHA, WIS. — Cushman & Wakefield has arranged the sale of an industrial building located at 9949 58th Place in Kenosha. The sales price was not disclosed. The 173,000-square-foot warehouse will serve as the manufacturing facility for Colbert Packaging Corp., a manufacturer of folding cartons, boxes and paperboard specialty products. Constructed in 2015, the property features 18 loading docks, 216 parking spaces, 30-foot clear heights and an ESFR sprinkler system. Colbert will consolidate and relocate manufacturing centers from Lake Forest, Wis. and Libertyville, Ill. The company’s headquarters will remain in Lake Forest. Eric Fischer, Brett Kroner, Keith Puritz and Bradley Migdal represented Colbert in the transaction. Sergio Chapa of Newmark Grubb Knight Frank represented the seller, Zilber Ltd.

January 17, 2017

Illinois Midwest Office

FD Stonewater Acquires 164,845 SF Office Building in Evanston, Illinois

by Kristin Harlow January 17, 2017

EVANSTON, ILL. — FD Stonewater has acquired a multi-tenant office building in Evanston, 13 miles north of Chicago. The Class A, 164,845-square-foot building is located at 1007 Church St. Architect Helmut Jahn designed the building. The property was 79 percent leased upon acquisition to tenants in the education, healthcare and technology sectors. The building has been renamed Evanston MetroCenter. FD Stonewater, based in Arlington, Va., plans to make building improvements at Evanston MetroCenter and expand tenant services.

January 17, 2017

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