WINDSOR MILL, MD. — Marcus & Millichap has arranged the $4.7 million sale of a 94,851-square-foot retail property net-leased to Shoppers Food & Pharmacy in Windsor Mill, roughly 13 miles west of Baltimore. Preet Sabharwal and Michael Soleimani of Marcus & Millichap represented the seller, Jacqueline A. Mickiewicz Trust, in the transaction, and procured the buyer, a limited liability company. The property is located at 8212 Liberty Road at the corner of Liberty and Rolling roads.
WOODSTOCK, GA. — Franklin Street has brokered the $4.1 million sale of The Shops at Eagle Pointe, a 26,960-square-foot retail center located in the Atlanta suburb of Woodstock. John Tennant and Bryan Belk of Franklin Street represented the seller, Indianapolis-based Alpha Opportunity Fund I LLC, in the transaction. D2D Holdings Inc. purchased the asset. At the time of sale, the property was leased to tenants including a gym, dry cleaner, doctor’s office and restaurants.
OXFORD, MISS. — Texla Housing Partners has sold University Trails Oxford, a student housing community located near the University of Mississippi in Oxford. The buyer, Capstone Real Estate Investments LLC, plans to rebrand the community as Flatts at South Campus. The property contains 492 beds in a mix of two-, three- and four-bedroom units. Shared amenities include a resort-style pool, business center, fitness center, beach volleyball court, basketball court, computer lab and a 24-hour game room. Renovations planned by Capstone for the property include the conversion of units to feature community-wide bed-to-bath parity, and common area and unit upgrades.
MCDONOUGH, GA. — Cushman & Wakefield has secured a 295,800-square-foot lease with TravelPro, a provider of travel goods, at 1500 Medline Place in McDonough, roughly 30 miles south of Atlanta. Ray Stache, Lisa Pittman and Greg Dikerson of Cushman & Wakefield represented the landlord, Medline Industries, in the lease transaction. The lease marks TravelPro’s first location in the metro Atlanta market. Constructed in 2016, 1500 Medline Place was 100 percent leased in less than 12 months following completion. The facility features 37-foot ceilings, 77 dock doors, LED lighting and access to 13 UPS and FedEx centers.
DALLAS — ORIX USA, a Dallas-based division of international financial services group ORIX Corp., has acquired Lancaster Pollard Holdings LLC. The acquisition price was more than $300 million, according to a report by Commercial Mortgage Alert. Based in Columbus, Ohio, Lancaster Pollard was the top HUD lender in the seniors housing sector for fiscal year 2016, which ended Sept. 30, 2016. The company closed 60 transactions totaling $554.4 million, accounting for 21 percent of total HUD volume in the sector. Lancaster Pollard is a new separate subsidiary of ORIX alongside RED Capital Group, which is also based in Columbus, and Boston Financial Investment Management. All three ORIX subsidiaries will continue to operate as separate companies with their current management. Moving forward under the ORIX Commercial Mortgage Servicing umbrella, Lancaster Pollard will focus on the financial, capital and advisory needs of senior living and healthcare clients, and RED will do the same in the affordable and market-rate multifamily sectors. Advisors for ORIX USA on the transaction included Beekman Advisors Inc. and Houlihan Lokey Inc. for financial services and Weil, Gotshal & Manges LLP for legal services. For Lancaster Pollard, Credit Suisse Securities (USA) LLC served as financial advisor and Kramer Levin …
TYLER, TEXAS — McCarthy Building Cos. Inc. will build an expansion project for CHRISTUS Mother Frances Hospital, located at 800 E. Dawson St. in Tyler. The project will deliver two new trauma rooms, 48 ICU beds, an emergency room with 54 treatment beds and two helipads. It will also replace the existing parking garage with a 297,000-square-foot structure, construction of which began earlier this year and is expected to be complete by March 2018.
FORT WORTH, TEXAS — Tarrant County has purchased a 40,075-square-foot tract of land located at 401 E. Weatherford St. in downtown Fort Worth, on which it will build a multi-level parking garage with ground-floor office space. The site encompasses nearly one acre and is situated adjacent to Sundance Square. Eddie Liebman and Matthew Rosenfeld of Weitzman represented the seller in the transaction. Todd Burnette of JLL represented the county.
MOORE, OKLA. — Marcus & Millichap has brokered the sale of The Shops at Moore, a 17,925-square-foot retail power center located at the corner of 19th Street and Interstate 35 in Moore, a suburb of Oklahoma City. The center was 100 percent leased at the time of sale to national and regional tenants. Nearby retailers include Office Depot, Hobby Lobby, AT&T and Best Buy. Lisa Estrada of Marcus & Millichap represented the seller, a Fort Worth-based limited liability company. First National Bank of Oklahoma provided financing for the acquisition. The name of the buyer and the sales price were not disclosed.
COPPELL, TEXAS — CBRE has negotiated a 30,495-square-foot lease at 1122 Bethel Road in the Dallas-Fort Worth metro of Coppell. Steve Trese and Wilson Brown of CBRE represented the landlord, Bethel Industrial LLC. Ryan Boozer of Stream Realty represented the tenant, Irving-based Event Technology Services LLC, which will be relocating to the Coppell property from the Airport submarket.
HONOLULU — Salem Partners, a commercial real estate developer based in Los Angeles, is moving forward on its $750 million, two-tower project in Honolulu. The Honolulu City Council recently gave Salem Partners approval to build the 450-unit condominium and hotel development, which is part of Honolulu’s Ala Moana Transit Oriented Development Plan. The first development in the plan is Salem Partner’s Mana’olana Place project, which is slated to break ground across from the Hawaii Convention Center in the second quarter of 2018. A new Mandarin Oriental Hotel will anchor the development. “We have enthusiastically embraced the city’s new TOD plan and look forward to the completion of the transit system in 2022,” says James Ratkovich of Salem Partners. Salem Partners received a special transit permit to build up to 400 feet high instead of the 250 feet previously allowed. The developer has also proposed for 78 affordable apartments to be built in collaboration with EAH Housing at the site, which spans 1.42 acres at 1500 Kapiolani Ave. “It is an innovative solution for deeply needed affordable units in Honolulu,” says Ratkovich. At this time the affordable units are designated for seniors housing. Colorado-based architect [au] workshop designed the two towers, …
