Property Type

Catellus Sells 165,777 SF Shopping Center in Alameda

by Nellie Day August 1, 2016

ALAMEDA, CALIF. — Catellus has completed the sale of a REIT that owns Alameda Landing, a grocery-anchored shopping center located at 2600-2700 Fifth St. in Alameda. AFL-CIO Building Investment purchased the REIT free and clear of existing debt for an undisclosed price. Situated on 80 acres, the 165,777-square-foot property is 86 percent leased to tenants including Safeway, Michaels, Orange Theory Fitness, Chipotle, AAA Insurance and Bank of America. Nicholas Bicardo of HFF represented the seller in the deal.

August 1, 2016

California Retail Western

Hanley Investment Group Arranges Sale of Retail Pad in Inland Empire for $3.9M

by Nellie Day August 1, 2016

UPLAND, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the $3.9 million sale of a multi-tenant retail pad located in the Inland Empire community of Upland. The 9,167-square-foot building is located within a neighborhood shopping center anchored by Smart & Final Extra! The five-tenant property was fully occupied at the time of sale by tenants including The UPS Store, The Spot Café, Mountain View Dental and We Talk Pets. Bill Asher and Pat Kent of Hanley Investment Group represented the seller, CME Mountain Avenue LLC, in the transaction. Jin Hwang of EJ Realty & Investment represented the buyer, an undisclosed local investment partnership.

August 1, 2016

Colorado Retail Western

Old Chicago Pizza & Taproom Plans to Refresh 37 Restaurants

by Nellie Day August 1, 2016

BROOMFIELD, COLO. — Old Chicago Pizza & Taproom’s franchise partners are reinvesting an average of $150,000 into refreshing 37 existing franchised restaurants. This effort will include renovations to the interior and exterior, as well as to the dining room and beer equipment. Upgrades to beer equipment and systems include a new tap tower, glass mug coolers, stainless glass storage cabinet and stein racks. The restaurants will also now display its beer menu on a mounted, 60-inch LCD screen. As part of the refresh, the service team will also undergo extensive beer training. Additional interior renovations include front-of-the-house upgrades to its wall signage and décor, fresh paint, new tabletops and bases, backless barstools and a community table that seats up to 20. Old Chicago’s exteriors will display an updated logo as well as a new exterior monument. To complement the new design elements, the company is now working with Open Table and using its software for all reservation systems. Founded in 1976, Old Chicago operates in 24 states with more than 100 restaurants nationwide. The restaurant chain recently launched its new restaurant prototype — a 5,000-square-foot build with an additional 1,000 to 1,200 square feet of outdoor patio space, a new kitchen and upgraded …

August 1, 2016

Hospitality Texas

MCR Development Completes Renovation of Fairfield Inn & Suites in Houston

by Haisten Willis August 1, 2016

HOUSTON — MCR Development has completed a renovation of the Fairfield Inn & Suites by Marriott Houston Intercontinental Airport, a 131-room select-service hotel in Houston. Located between I-45 and I-69, the hotel features an updated lobby and guestrooms with new furniture, lighting and carpet. Additional improvements include new exercise equipment in the fitness center and lounge furniture on the patio. The hotel’s meeting center and 2,585-square-foot ballroom were modernized as well.

August 1, 2016

Multifamily Texas

M&M Arranges Sale of 20-Unit Apartment Building in Dallas

by Haisten Willis August 1, 2016

DALLAS — Marcus & Millichap has arranged the sale of The Trails, a 20-unit apartment property located in Dallas. Stephen Crittenden of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a private investor. Crittenden also procured the buyer, an out-of-state private equity firm. The all-cash transaction closed 20 days after receipt of contract. The Trails is a Class B multifamily asset located at 4335 Cedar Springs Road in the Oak Lawn submarket of Dallas. Originally constructed in 1966 and renovated in 2001, the asset is situated on a 21,600-sqaure-foot lot. The property features upgraded units throughout, stackable washer/dryer connections, a swimming pool and gated entry.

August 1, 2016

Industrial Office Texas

Stream Realty Secures Sale of 9,700 SF Office/Warehouse Building in San Antonio

by Haisten Willis August 1, 2016

SAN ANTONIO — Stream Realty Partners has secured the sale of a 9,708-square-foot office and warehouse building for Dausin Management Trust located at 8007 NE Loop 410 in San Antonio. Kevin Cosgrove and Payton Rion of Stream Realty Partners – Central Texas LP represented the seller in the transaction. The office and warehouse space is located in northeast San Antonio on Loop 410 near its intersection with Springfield Road. The property offers tenants five grade-level doors, covered parking and a one-acre fenced yard.

August 1, 2016

Office Texas

Henry S. Miller Brokers Lease for Plastic Surgery Center in Frisco

by Haisten Willis August 1, 2016

FRISCO, TEXAS — Jim Turano and Jim Breitenfeld of Henry S. Miller’s office and industrial division have represented JC Professional Properties in the lease of a space in Frisco. Texas Facial Aesthetics leased 4,230 square feet of first floor space at the property, located at 6371 Preston Road. The company will use the space as its plastic surgery clinic headquarters. Sean Sundby of CBRE represented the tenant in the transaction.

August 1, 2016

Nevada Retail Western

West Elm Opening Landmark Store in Reno

by Nellie Day August 1, 2016

RENO, NEV. — Home furnishings retailer West Elm will open a new store in Reno on August 11, 2016. Occupying 11,000 square feet on the main floor of the former U.S. Post Office building at 50 S. Virginia St., West Elm Reno joins The Basement marketplace, an underground multi-use venue that celebrates hand-crafted food and retail. As part of West Elm’s LOCAL program, products from eight Reno-based makers and designers will be featured with the store’s fall assortment of modern furnishings and décor. West Elm Reno is housed within Reno’s former main post office, built in 1934 and located at the heart of the city’s civic center. Today, the landmark has been restored and stands as a relic of Art Deco style in downtown Reno. Guided by historical preservation, West Elm has incorporated the building’s original architecture and ornate details in the store’s design. Preserved period elements such as the original post office boxes were used to display the West Elm sign behind the register, while motifs from the building’s exterior door pediments were recreated from raw wood and metal materials for the front cash wrap. Headquartered in Brooklyn, N.Y., West Elm operates 89 retail stores in the United States, …

August 1, 2016

Loans New York Northeast Retail

Vanbarton Group Receives $67.5M Acquisition Loan for a 31,210 SF Retail Condo in Manhattan

by Amy Works August 1, 2016

NEW YORK CITY — An affiliate of Vanbarton Group has received $67.5 million in acquisition financing for The Astor retail condominium located at 2139-2157 Broadway in Manhattan. Cushman & Wakefield arranged the floating-rate financing, which was provided by an affiliate of Mesa West Capital. The 31,210-square-foot property is at the base of the The Astor, a 12-story luxury residential complex. The condo features 18,902 square feet of ground-floor space and 12,308 square feet of basement-level space. The property is 100 percent leased to nine commercial tenants, including Barneys New York, Lululemon, Stuart Weitzman, Papyrus and L’Occitane. Steve Kohn, Alex Hernandez and Alex Lapidus of Cushman & Wakefield arranged the financing for the borrower.

August 1, 2016

Industrial New Jersey Northeast

Cushman & Wakefield Brokers Sale of 600,600 SF Distribution Facility in New Jersey

by Amy Works August 1, 2016

HAMILTON TOWNSHIP, N.J. — Cushman & Wakefield has arranged the sale of a distribution facility located at 401 Cabot Drive in Hamilton Township. The 600,600-square-foot building serves as the Eastern region distribution hub for Colgate-Palmolive. Completed in 2006, the property features 36-foot clear heights, 52-foot by 50-foot column spacing, 120-foot truck courts and ample car and trailer parking. Colgate-Palmolive currently occupies 431,340 square feet, with the remaining 169,260 square feet available for lease. Andrew Merin, David Bernhaut, Brian Whitmer, Kyle Schmidt, Andrew MacDonald, Stan Danzig and Jules Nissim of Cushman & Wakefield represented the undisclosed seller and buyer in the transaction.

August 1, 2016

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