PALM DESERT, CALIF. — Colliers International has arranged the $19.8 million sale of Town Center Plaza, an 82,000-square-foot shopping center located in Palm Desert. Tenants at the center include Trader Joe’s, Michaels, Banner Mattress, Tuesday Morning, Fisherman’s Market and Grill, The Palms Café and Uncle Don’s Hobbies. Bill Barnett and Doug Hogan of Colliers represented the buyer, Citivest Commercial Investments LLC, in the acquisition of the property from Town Center Plaza LP.
PASADENA, CALIF. — CBRE has arranged the $13.4 million sale of Shops on Hill, a 32,685-square-foot mixed-use center in Pasadena. The two buildings are located on opposite corners of the intersection of East Washington Boulevard and North Hill Avenue, and feature 12 apartments with ground-floor retail. Shops on Hill LLC, an entity controlled by Engine Real Estate, acquired the property.
SALT LAKE CITY — The Kissel Co. has purchased the Sweet Candy Building in downtown Salt Lake City for an undisclosed sum. The historic building is located at 200 West and 224 South. The 97,000-square-foot property was built in two phases between 1911 and 1922. The Sweet Candy Building was renovated in 2001, at which time it was converted into retro tech space. It is fully leased. CBRE’s Marty Plunkett and Craig Thomas represented the seller, Olafson II LLC, in this transaction.
SAN ANTONIO — On behalf of Seavest Healthcare Properties, Trammell Crow Co. has begun construction on a medical office building located at 1434 E. Sonterra Blvd. in San Antonio. Seavest Healthcare Properties will own the new three-story, 60,000-square-foot Children’s Hospital of San Antonio Health Pavilion at Stone Oak. The medical office building will focus on pediatric services. CHRISTUS Santa Rosa will lease 88 percent of the property, with the remaining space leased to MedCare Associates, a primary healthcare group. Construction has already begun and is scheduled for completion in fall 2017. The development team includes general contractor Joeris, architect MKS Associates, Cooper-Lochte Landscape Architecture, Pape Dawson, RGM Engineering and Alpha Consulting Engineers.
TULSA, OKLA. — CBRE has arranged the sale of BOK Place at Southern Hills, a 126,656-square-foot, Class A office building in Tulsa. The eight-story asset was 89 percent occupied at closing. Mary Martin of CBRE’s Tulsa office represented the seller, Allegiancy Houston LLC, in the transaction. The building is located at 5727 S. Lewis Ave. near the intersection of East 61st Street and South Lewis Avenue with close proximity to Southern Hills Country Club. Building amenities include high-speed internet, on-site banking with drive thru lanes and an on-site deli. Major tenants include Bank of Oklahoma and The Home Depot.
CARROLLTON, TEXAS — Shopoff Realty Investments, a manager of value-add real estate investments, has acquired a 36,000-square-foot retail center in the Dallas suburb of Carrollton for $8.1 million. The property, Hebron Heights, is located at 1012 W. Hebron Parkway in the north Carrollton submarket. Anchored by Pet Supplies Plus, the retail center is 100 percent leased to national, regional and local tenants. Hebron Heights was constructed in 2004 on 8 acres located less than one mile east of the Sam Rayburn Tollway.
DALLAS — AmeriPac Inc., a contract packaging and fulfillment company, has leased a 119,717-square-foot industrial facility at 1000 N. 28th Ave. in Dallas. The property is a part of the company’s expansion and will be used in conjunction with its current facility, which is located directly across the street. The new facility, located at DFW International Airport, features 10,709 square feet of office space, 30-foot clear heights and 22 dock-high loading doors. The space will also be 100 percent climate controlled. The Cushman & Wakefield team of Blake Anderson and David Eseke negotiated the lease on behalf of AmeriPac.
FLOWER MOUND, TEXAS — JLL has negotiated a 21,803-square-foot office lease for IntelliCentrics Inc. a healthcare network. The company’s new U.S. headquarters will be at Lakeside Commerce Center, located at 1420 Lakeside Parkway in Flower Mound. JLL’s Steve Thelen and Doug Carignan negotiated the lease on behalf of the tenant. Blake Kendrick of Stream Realty Partners represented the landlord, Exeter Lakeside I LP.
CARROLLTON, GA. — NorthMarq Capital has secured the $22.2 million refinancing of Flats at 316, a 240-unit student housing community located near the University of West Georgia in Carrollton. The transaction was structured with a three-year, interest-only term. Will James of NorthMarq Capital arranged the financing on behalf of the undisclosed borrower through a bridge lender. Flats at 316’s community amenities include a basketball court; cyber café; dog park; a lounge with a flat screen, pool table, ping pong, poker and other games; a resort-style swimming pool; sand volleyball court; coffee bar; fitness center; and shuttle service to and from campus.
CARTERSVILLE, GA. — Morgan Construction Co. is nearing completion of Main Street Market Place, a Kroger-anchored shopping center in Cartersville, roughly 43 miles north of Atlanta. The total construction costs for the development is $24.1 million, excluding the cost of the Kroger Fuel Center. The 53-acre development includes a Kroger Marketplace and fuel center, AT&T, Pacific Dental, Vision Works, Panera Bread, Sport Clips, Las Palmas Mexican Restaurant, Willy’s Mexicana Grill. Phase II of the future development will allow 85,000 square feet for co-anchor space. The Kroger store opened to the public on Oct. 5, but the remaining retail space remains under construction. The development team is led by R.H. Ledbetter Properties of Rome, Ga. The design team includes architects CR Architecture & Design, Buckle Design Group and Schaefer Inc.; and landowner Dellinger.
