Property Type

Square Mile Capital Originates $30M Loan for California Market Center in Los Angeles

by Nellie Day June 27, 2016

LOS ANGELES — Square Mile Capital Management has originated a $30 million mezzanine loan for California Market Center in downtown Los Angeles. The borrower, an affiliate of Jamison Services, used the proceeds to refinance the existing debt on the property, provide capital to complete renovations of the ground-floor common areas and retail space, and fund leasing costs for recently signed and future tenants. The 1.8 million-square-foot mixed-use property features retail, office and showroom space. The property is currently 55 percent leased to a combination of fashion and showroom, creative office and retail tenants. The property features three interconnected 13-story buildings and includes a bank branch and 2,200 parking spaces in two garages.

June 27, 2016

California Mixed-Use Western

Public/Private Partnership Breaks Ground on Mixed-Use Development in Fremont

by Nellie Day June 27, 2016

FREMONT, CALIF. — A public/private partnership between the City of Fremont, TMG Partners, SARES-REGIS Group and Summerhill Homes has broken ground on Locale @ State Street in downtown Freemont. Designed by KTGY Architecture + Planning, the transit-oriented residential and retail development will feature 157 for-sale residential units and 21,000 square feet of ground-floor, street-front retail and restaurant space along Capitol Avenue. Situated within walking distance of the Fremont BART station, the development will offer 81 flats and rowhomes and 76 on-grade attached rowhomes. On-site amenities include outdoor spaces with barbecues, landscaping, seating areas, a fitness studio and bike share program.

June 27, 2016

Multifamily Oklahoma Seniors Housing Texas

Ziegler Closes $111M in Bond Financing for Construction of CCRC in Oklahoma

by Katie Sloan June 27, 2016

STILLWATER, OKLA. — Ziegler, a specialty investment bank, has arranged $111 million in tax-exempt bonds for Epworth Living at The Ranch, a continuing care retirement community (CCRC) in Stillwater, approximately 60 miles north of Oklahoma City and west of Tulsa. Local nonprofit operator Epworth Living is developing the 380,000-square-foot community on a 55-acre site near Oklahoma State University. When completed, The Ranch will consist of 114 independent living apartments, 23 independent living villas, 48 assisted living apartments, 20 memory support suites, and 40 skilled nursing beds. The Ranch was 70.1 percent pre-leased at the time of the bond issue. The bonds will be used to fund the construction and development of the community, refinance a $6.8 million predevelopment loan, fund interest for two years, establish debt-service reserve funds and pay a portion of issuance costs. Epworth Living is contributing $2 million in equity to the financing. The Weitz Company will serve as the construction manager for the project.

June 27, 2016

Restaurant Retail Texas

Dallas Cowboys, Legends Hospitality to Open Stadium Club Restaurant at AT&T Stadium

by Katie Sloan June 27, 2016

DALLAS — The Dallas Cowboys and Legends Hospitality will open the Stadium Club at AT&T Stadium this fall. The 19,000-square-foot restaurant will be open daily for lunch and dinner, serving as a place for visitors to dine before or after touring the building. The Stadium Club will be located just inside the stadium’s main entrance next to the Cowboys Pro Shop, and will host up to 650 guests. The space will feature a seamless video wall surrounding each bar, a video wall behind the host stand and 20 flat-screen televisions. Game day dining memberships will be offered at the stadium, and will provide an exclusive, members only, all-inclusive dining experience to season ticket holders and suite holders during Dallas Cowboys home games.

June 27, 2016

Industrial Texas

Miltech Business Center in Fort Worth Sells to a Personal Trust

by Katie Sloan June 27, 2016

FORT WORTH, TEXAS— Miltech Business Center, a 21,350-square-foot, multi-tenant industrial property located in Fort Worth, has been sold. The property, built in 2003, is currently fully occupied and offers units with exterior drive-up doors and 18-foot ceilings. Cody Payne of Marcus & Millichap marketed the property on behalf of the seller, an undisclosed private investor. Payne also secured the buyer, an undisclosed personal trust, in the transaction.

June 27, 2016

Office Texas

Marcus & Millichap Brokers Sale of Flex Office Building in Dallas

by Katie Sloan June 27, 2016

DALLAS — Marcus & Millichap has brokered the sale of a 20,000-square-foot flex office property located at 14209-14223 Proton Road in Dallas. Built in 1973 and renovated in 2010, the single-story asset features an exterior loading dock with 14-foot ceilings. The property was 88 percent leased at the time of sale. Ron Hebert and Joe Santelli of Marcus & Millichap’s Dallas office represented the seller, an international limited liability company, in the transaction. The buyer, a limited liability company, purchased the property in a reverse 1031 exchange.

June 27, 2016

Office Texas

Investcorp Selects Transwestern to Lease One Westchase Center in Houston

by Katie Sloan June 27, 2016

HOUSTON — New York-based owner Investcorp has tapped Transwestern to lease One Westchase Center, a 466,000-square-foot office building located at 10777 Westheimer Road in Houston’s Westchase Business District. Doug Little, Louann Paereira and Amanda Lee App of Transwestern will lead the leasing efforts. The Class A office building features a fully furnished conference facility, fitness center with men’s and women’s showers, deli, 24-hour security and on-site property management.

June 27, 2016

Florida Multifamily Southeast

Praedium Group Buys Apartment Community in Orlando for $60.4M

by John Nelson June 27, 2016

ORLANDO, FLA. — The Praedium Group has purchased Integra Cove, a newly built, 338-unit apartment community located at 6801 Integra Cove Blvd. in Orlando, for $60.4 million. The property is situated on a 14.5-acre site within walking distance of Sea World. Built in 2016, Integra Cove features a zero-entry salt water pool, poolside grilling station, wireless internet café, 24-hour fitness center, bark park, pet spa, auto detailing station, electric car charging stations and elevator access. Praedium Group purchased the asset from a joint venture between Boston-based Panther Properties and Orlando-based Integra Land Co. Ken Delvillar and Jay Ballard of Cushman & Wakefield represented the joint venture in the transaction.

June 27, 2016

North Carolina Office Southeast

Joint Venture Sells Two Office Properties in Metro Raleigh for $35.2M

by John Nelson June 27, 2016

CARY, N.C. — A joint venture between Starwood Capital Group, Trinity Capital Advisors and Vanderbilt Partners has sold two office buildings in Cary for a combined $35.2 million The office assets are located at 100 and 200 Regency Forest Drive within Regency Park. Totaling 207,347 square feet, the properties are leased to tenants such as Cadence Design, MicroMass Communication, MercuryGate International, Crown Castle and Garmin International. Scot Humphrey, Ryan Clutter and Chris Norvell of HFF represented the joint venture in the transaction and procured the buyer, True North Management Group LLC.

June 27, 2016

Florida Retail Southeast

Marcus & Millichap Brokers $6.7M Sale of Grocery Store in Miami

by John Nelson June 27, 2016

MIAMI — Marcus & Millichap has arranged the $6.7 million sale of Gordon Food Service Marketplace, a 17,431-square-foot grocery store located at 5600 W. Flagler St. in Miami. The net-leased store has seven years remaining on its base term. Ronnie Issenberg, Gabriel Britti, Scott Sandelin and Al Palacios of Marcus & Millichap’s Miami office represented the seller in the transaction. The buyer was as undisclosed private investor based in South Florida.

June 27, 2016

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