AUBURN, ALA. — Colliers International has brokered the $14.4 million sale of The Crossroads of Opelika, a 33,378-square-foot shopping center located at 2025 Interstate Drive in Auburn. The property’s tenant roster includes Chipotle Mexican Grill, Aspen Dental, Mattress Firm and AT&T. Bond Street Advisors Inc. purchased the center for more than $430 per square foot. Josh Randolph of Colliers International’s Birmingham office represented the undisclosed seller in the transaction.
TRINITY, FLA. — Walker & Dunlop has closed a $13.7 million acquisition loan for Trinity Village Center, a 76,814-square-foot shopping center located in Trinity. Built in 2007, the asset was fully leased at the time of financing to 28 tenants including AAA Auto Club South, Synovus Bank, Quest Diagnostics, Five Guys Hamburgers and Fries, Smoothie King and Cold Stone Creamery. Alison Williams and Matt Baldwin led Walker & Dunlop’s origination team in securing the 10-year loan with two years of interest-only payments and a 30-year amortization schedule on behalf of the borrower, a retail investment firm based in Canada.
BENBROOK, TEXAS — OM Housing LLC is developing Villas at Boston Heights, an eco-friendly, affordable housing multifamily complex located at 3510 Boston Ave. in Benbrook, approximately eight miles from downtown Fort Worth. KWA Construction has started construction on the $28 million, 165,000-square-foot garden-style property, which is expected to open in December. Designed by BGO Architects, the property will feature 130 affordable units, 14 market-rate units, a community center, fitness center, computer learning center, community kitchen, swimming pool, barbecue and picnic area and a playground for children.
JERSEY VILLAGE, TEXAS — G.E.T. Enterprises has leased 201,600 square feet of industrial space at 7401 Security Way in Jersey Village. The supplier of serving ware, drink ware and tabletop solutions is expanding and relocating its facility to the new space within Prologis Park Jersey Village. Walker Barnett and Ryan Byrd of Colliers represented the tenant, while Joseph Smith and Billy Gold of CBRE represented the landlord, Prologis NA2 Texas LLC, in the lease transaction.
IRVING, TEXAS — Rubicon Representation, along with NAI Robert Lynn, has arranged the sale of two office and flex buildings located in the Las Colinas area of Irving. The properties total 92,000 square feet of space. Kyle Jacobs and Graham Perry of Rubicon Representation represented the undisclosed seller, while Zach Stevens of NAI Robert Lynn represented the undisclosed buyer. The acquisition price was not released.
WEBSTER, TEXAS — Bay Area Regional Medical Center and Medistar Corp. are developing a medical office building near the intersection of East Medical Center Boulevard and Highway 3 in Webster. The 60,000-square-foot building will offer medical office space to support the growth of Bay Area Regional. The project is slated to start in the third quarter. The partnership is also developing an ambulatory surgery center at Gemini III, Medistar’s three-building campus in Houston.
DALLAS — EDGE Realty Capital has brokered the sale of a single-tenant office building located at 2320 Stemmons Trail in Dallas. Double Run LP acquired the 14,000-square-foot property from Navin Enterprises Inc. for an undisclosed price. Octapharma Plasma is the sole occupant of the building. Brandon Beeson and Brandon Crow of EDGE represented the seller in the deal.
SAN MARCOS, CALIF. — United American Properties and World Premier Investments have received a $92 million loan to refinance debt on Grand Plaza, a retail power center in San Macros. Anchored by Sprouts Farmers Market, the 356,796-square-foot property is 94 percent leased to a variety of tenants such as Orchard Supply Hardware, Bed Bath and Beyond, Ross Dress for Less, Marshalls, Boudin Bakery, Lane Bryant, Party City, Broken Yolk Café, Starbucks Coffee, Ulta Beauty and Nordstrom Rack. John Chun, Sebastian Trujillo and AJ Manas of HFF arranged the 25-year, fixed-rate loan with J.P. Morgan Asset Management.
RIVERSIDE, CALIF. — Trammell Crow Company (TCC) has commenced construction on Columbia Business Park, a 1.4 million-square-foot spec industrial development in Riverside. The three-building project will be situated within the Hunter Park industrial corridor. The project will be constructed in phases to maximize flexibility. The first phase will include a 1 million-square-foot distribution center and the design of a 371,229-square-foot distribution center. The second phase will include the development of the adjacent seven-acre parcel, which could provide additional parking, trailer storage or accommodate a planned 86,853-square-foot building. Operating Engineers Pension Trust is developing the business park. Washington Capital Management served as Operating Engineers’ advisor.
HEMET, CALIF. — Marcus & Millichap has brokered the sale of Ramona Plaza, a shopping center located in Hemet. An undisclosed buyer acquired the property for $11.1 million, or $108 per square foot. Grocery Outlet, Planet Fitness, Dollar Tree, Subway and Little Caesars Pizza occupy the 102,801-square-foot property. Matt LoPiccolo, Matt Hardy and Mike James of Marcus & Millichap represented the buyer and undisclosed seller in the deal.
