NEW YORK CITY — Alpha Realty has arranged the sale of a multifamily property located at 2342 Atlantic Ave. in Brooklyn’s Bedford-Stuyvesant neighborhood. Witnick Real Estate Partners acquired the 16,700-square-foot property from Up Realty for $5.4 million, or $327 per square foot. Lew Mavashev of Alpha Realty represented the seller, while Jacob Aronov, also of Alpha Realty, represented the buyer in the off-market transaction.
MEDFORD, MASS. — Linear Retail has purchased a retail property, located at 85 High St. in Medford, from Case Real Estate Capital for $4.7 million. CVS/pharmacy occupies the 15,700-square-foot property, which was built in 1996. Geoffrey Millerd, Justin Smith, Paul Penman and Matthew Waisnor of NGKF Capital Markets represented the seller in the deal.
TEMPE, ARIZ. — Carter Validus Mission Critical REIT II has purchased the 44,244-square-foot Tempe Data Center for $16.2 million. The facility is situated near Phoenix Sky Harbor International Airport, downtown Phoenix and downtown Tempe. The facility has been fully leased to a national provider of wireless voice, messaging and data services since 1997. It underwent remodeling in 1983, 2008 and 2011. The center features 15,000 square feet of white space, 8,711 square feet of office space and 20,533 square feet of warehouse space, including a 4,355-square-foot mezzanine level. CBRE’S Luke Denmon and Mindy Korth and Kirk Kuller of Colliers International represented the seller, El Dorado Holdings, in this transaction.
LOS ANGELES — 4M Investment Corp. has purchased a 103,154-square-foot office building in the Los Angeles submarket of Universal City for an undisclosed sum. The Class A building is located at 3330 Cahuenga Blvd. The asset is 98 percent leased to tenants like Extreme Reach, Panasonic, EPS-Cineworks and Abominable Pictures. It was built in 1988. NGKF Capital Markets’ Kevin Shannon, Rob Hannan and Michael Moll represented the seller, Blackstone, in this transaction. The local market leasing team of Rob Erickson and Trevor Belden from Industry Partners also assisted in the deal.
LOS ANGELES — Astani Enterprises has completed construction on the 218-unit Wilshire Valencia apartment community in Los Angeles. The community is located at 1515 Wilshire Blvd. The project contains a mix of studios, one- and two-bedroom units, including a few affordable units. It also features 4,000 square feet of retail spaces suitable for restaurants and shopping along Wilshire. KFA designed Wilshire Valencia.
TUALATIN, ORE. — Superwinch has leased 38,812 square feet of factory space at Koch Corporate Center in Tualatin. The industrial park is situated at SW 115th Avenue and Tualatin-Sherwood Road. The designer, manufacturer and marketer of winch systems and accessories is building a design and manufacturing facility to complement existing facilities in Connecticut and the United Kingdom. The new facility will become Superwinch’s corporate headquarters. It will include both assembly and distribution of new product abilities. The new facility is scheduled for completion this April, with Superwinch taking occupancy the following month. CBRE’s Cara Nolan represented Superwinch. The landlord is PacTrust.
SEATTLE — Terreno Realty Corp. has acquired a 45,000-square-foot industrial distribution building in Seattle for $7.8 million. The facility is located at 637 S. Lucile St. It sits adjacent to the city’s Port and SoDo (south of Downtown) districts. The asset is fully leased to one tenant on a short-term basis.
FOLEY, ALA. — White-Spunner Construction (WSC) and the Poarch Band of Creek Indians are underway on OWA, a $500 million entertainment and retail district in Foley, a town in south Alabama near the Gulf of Mexico. WSC is constructing 154,000 square feet of retail and dining space for the $240 million first phase of OWA, which is set to open this summer. Phase I of OWA will also feature a themed amusement park and a 150-room Marriott TownePlace Suites hotel. Future phases call for a water park, additional hotels and a resort-level RV park. “This will be an exciting new family-friendly destination for locals and visitors alike in Baldwin County,” says John White-Spunner, president of WSC. “We’re proud to be a part of such an innovative entertainment concept that will bring thousands of new jobs and draw more tourism to the Gulf Coast.” When completed, the OWA development is expected to generate nearly 3,500 direct and indirect jobs and draw about 1 million visitors a year. Plans call for the development to include three themed districts that offer shopping, dining and other entertainment. Located off the Foley Beach Express and County Road 20, OWA is nine miles from Gulf Shores …
LAKEWAY, TEXAS — Stratus Properties Inc. has completed the sale of The Oaks at Lakeway, an HEB Grocery Company L.P.-anchored, 236,739-square-foot retail development located in Lakeway, a city in the Lake Travis community of metro Austin. The buyer, FHF I Oaks at Lakeway LLC, purchased the property for a cash price of $114 million. At the time of sale, Stratus owned 100 percent of the property, which it acquired and developed between May 2013 and September 2014. The sale excludes 34.7 acres of tracts within the development that have been zoned for residential, hotel and civic uses.
HOUSTON — Commercial lender Q10 Kinghorn, Driver, Hough & Co. (Q10 KDH) has arranged a $5 million Small Balance Freddie Mac loan on a multifamily complex in West Houston that encompasses 122 units across 10 buildings. With a fixed interest rate of 4.4 percent, the 10-year loan will finance continued improvements to both the interiors and exteriors of the units. Community amenities include a leasing office/clubhouse, gated entry, on-site laundry facilities, pool, playground and a community grilling area. Q10 KDH Vice President Ryan Watson arranged the loan.
