DINUBA, CALIF. — Marcus & Millichap has brokered the sale of a property net leased to DaVita Dialysis at 520 E. North Way in Dinuba. An individual/personal trust acquired the 9,000-square-foot property for $3.6 million. Mark Ruble, Jamie Medress and Chris Lind of Marcus & Millichap represented the seller, a limited liability company, while Jacob Becher and Christopher Secreto, also of Marcus & Millichap, represented the buyer in the deal.
HESPERIA, CALIF. — Faris Lee Investments has arranged the sale of a single-tenant, triple-net leased retail property located at 14075 Main St. in Hesperia. Hesperia-Main Street LLC sold the 3,600-square-foot property to a Los Angeles-based private investor for $3.3 million, or $911 per square foot. U.S. Bank occupies the property, which was built in 2007. Nicholas Coo and Joseph Chichester of Faris Lee Investments represented the seller in deal.
WASHINGTON, D.C. — A partnership between KeyBank Real Estate Capital and an affiliate of Walton Street Capital LLC has originated a $204.1 million first mortgage loan for The Woodies Building in Washington, D.C.’s East End. The 10-story, 497,000-square-foot property was constructed in 1897 and was fully redeveloped in 2005. Scott Bois of KeyBank’s Commercial Mortgage Group arranged the financing on behalf of the borrower, Douglas Development Corp. The 12-year loan features a 10-year interest only period and a 30-year amortization schedule. KeyBank and Walton Street Capital previously closed a $196.3 million first mortgage loan on behalf of Douglas Development for the Atlantic Building, also in Washington, D.C.
LEESBURG, VA. — Federal Capital Partners and joint venture partner Kettler have sold Fields of Leesburg, a 405-unit garden-style apartment community located at 75 Plaza St. in Leesburg, for $55.3 million. Built in the 1970s, the property participates in a tax credit program that provides affordable residences for renters who qualify. Jeff Kunitz, Brandon Grisham and Jonathan Greenberg of CBRE represented FCP and Kettler in the transaction. The buyer was not disclosed.
YUCCA VALLEY, CALIF. — Progressive Real Estate Partners has arranged the sale of Shoppes @ Balsa 62, a multi-tenant retail pad located at 58132 Twentynine Palms Highway in Yucca Valley. A Northern California-based investor acquired the 6,518-square-foot property for $2.5 million, or $391 per square foot. Greg Bedell and Victor Buendia of Progressive Real Estate represented the seller, a Nevada-based private investor, and the buyer in the deal.
ARLINGTON, VA. — Nestle USA, a subsidiary of global food and drink company Nestle S.A., has decided to move its corporate headquarters from Glendale, Calif., to Arlington’s Rosslyn district. The company will invest $39.8 million to relocate to 206,000 square feet of office space at 1812 N. Moore St. beginning in September. The move is expected to create nearly 750 jobs in the metropolitan Washington, D.C., region. As part of the deal, Nestle USA will receive $6 million from the Commonwealth of Virginia. The grant comprises a $4 million Industrial Development Authority Performance Incentives grant from Arlington County and an additional $2 million from the county for infrastructure purposes. Nestle USA worked closely with Arlington Economic Development in the move.
FREMONT, CALIF. — Vestar has signed two new tenants at Pacific Commons, a 1.1 million-square-foot retail property located at 43484 Boscell Road in Fremont. i-Tea and uBreakiFix are slated to open stores in the first quarter. Located near Vitamin Shoppe, i-Tea will offer traditional teas, as well as fruit-based teas, creamas, slushies, smoothies and classic milk teas. uBreakiFix, which will be located near Applebee’s, offers repair services for a variety of technical devices.
CONWAY, S.C. — Morgan Construction Co. has been awarded a contract to build its 100th and 101st Aldi stores in the Southeast. The two new stores will be located in Conway. The Chattanooga, Tenn.-based contractor has previously built Aldi stores in eight states in the region, including all six Aldi stores in southeast Tennessee and northwest Georgia over the past decade. The German grocer awards contracts one project at a time, according to Morgan Construction.
FRESNO, CALIF. — Peak Campus has been awarded management of Campus Edge, a 416-bed, garden-style community located near Fresno State University in Fresno. The property offers one- and two-bedroom units with bed-to-bath parity. Community amenities include a newly renovated clubhouse with a fully equipped game room and fitness center; a business center; barbecue areas; and a resort-style swimming pool with a sun deck and hot tub.
LAKE WORTH, FLA. — Walker & Dunlop has closed a $20 million Fannie Mae loan for Avesta Costa Del Lago, a Class B garden-style apartment community located in Palm Beach County’s Lake Worth. The borrower, Avesta Communities, will use the proceeds of the loan to refinance the 177,481-square-foot property, which was built in 1972. Community amenities at Avesta Costa Del Lago include a clubhouse, swimming pool, picnic area, lake views, playground, laundry facilities and a pet play area. Since purchasing the asset in 2013, Avesta has invested $1 million in capital improvements. Alison Williams and Matt Baldwin of Walker & Dunlop originated the 10-year Fannie Mae Structured Adjustable Rate Mortgage loan with five years of interest-only payments and a 30-year amortization schedule.