GARLAND, TEXAS — NAI Robert Lynn has negotiated an 114,515-square-foot office/warehouse lease at 3901 W. Miller Road in the Dallas metro of Garland. Stephen Cooper of NAI Robert Lynn represented the undisclosed landlord in the transaction. Ann Huntington of CBRE represented the tenant, Stonecrop Technologies LLC, a California-based communications deployment firm.
IRVING, TEXAS — STRIVE has brokered the sale of Riverside Retail Strip, a 14,030-square-foot, Class A retail center located at 6421 Riverside Drive in Irving. Built in 2016, the center was 100 percent occupied at the time of sale to tenants such as Wayback Burgers, Donut House and Yummy Thai. Jason Vitorino of STRIVE represented the seller, a Dallas-based developer, in the transaction.
PHOENIX — Regent Properties has purchased Camelback Commons, a 322,406-square-foot office campus in Phoenix, for $66.4 million. The Class A office property is located at 4722 and 4742 N. 24th St. It was built in 1986 and underwent a $4.5 million renovation in 2015. CBRE’s Barry Gabel and Chris Marchildon represented the seller, a joint venture between McCarthy Cook & Co. and Morgan Stanley Real Estate Investing, in this transaction. CBRE Capital Market’s Debt & Structured Finance team secured the financing for the buyer. The firm has also been retained to lease the property.
LOS ANGELES — Sussex Capital Group has acquired The Hillpointe, a 30-unit apartment property situated in the Hollywood Hills neighborhood of Los Angeles, for $13.4 million. The community is located at 2330 N. Cahuenga Blvd. It was built in 1987. Peter Sherman of Avison Young represented both the buyer and seller, Inco Monterra, in this transaction.
ANAHEIM, CALIF. — An unidentified private owner has acquired an 81,836-square-foot industrial building fully occupied by Discount Dance Supply for $12.2 million. The building is located at 5065 E. Hunter Ave. in Anaheim. CBRE’s Gary Stache, Anthony DeLorenzo and Doug Mack represented the seller, Makena Properties, in this transaction.
SANTA ANA, CALIF. — Gold Acceptance has purchased a 24,737-square-foot office building in Santa Ana for an undisclosed sum. The building is located at 555 N. Park Center. It was renovated in 2016. Gold Acceptance will occupy a portion of the building. The seller was Stream Realty Partners.
DENVER — Gershman Mortgage has closed a $6.5 million loan for a medical office building in Denver. The building is located at 36 Steele St. in Cherry Creek. The space will bring together two plastic surgeon offices into a single space. This was the second leg of a previously closed purchase and renovation of the property, which was completed in 2016. The new financing facility provided a little more than $6.5 million of combined permanent, fixed-rate debt.
WESTMONT, ILL. — Associated Bank has provided a $25 million loan for the refinancing of a single-tenant building occupied by Mariano’s Fresh Market in Westmont, about 20 miles west of Chicago. The 73,023-square-foot grocery store is located at 150 W. 63rd St. The store opened in March 2016. Daniel Barrins of Associated Bank originated the loan. An affiliate of IM Properties PLC was the borrower.
SHOREWOOD, WIS. — Walker & Dunlop Inc. has arranged a $20 million loan for the construction of The Oaks of Shorewood near Milwaukee. The apartment complex, designed for active seniors 55 and older, will consist of four buildings with 34 one-bedroom units and 67 two-bedroom units. Amenities include a spa and outdoor pool, yoga and fitness center, fireside lounge, theater, library, business center, community room and underground parking. Sherman Associates is developing the $26 million project, slated for completion in 2018. Jeff Schmidt and Tim Cotter of Walker & Dunlop arranged the three-year loan. TCF Bank provided the loan.
BUFFALO GROVE, ILL. — Principle Construction Corp. has completed a 157,000-square-foot industrial building in Buffalo Grove. The property is situated on an 11.8-acre site at 850 Asbury Drive. Principle demolished a 55,000-square-foot vacant building onsite in order to build the new facility, which features 32-foot clear heights, 36 truck docks, four drive-in doors and parking for 173 cars. To accommodate storm water, Principle built landscaped retaining walls and two detention ponds. Michael Long, Rick Grabowski and Mark and Matt Frane of Principle served as the project team. Harris Architects provided architectural services and Jamie Putnam of Kimley-Horn and Associates served as project engineer. Ridgeline Property Group’s Pete Harmon marketed the building for its owner, USRLP Asbury Drive LLC.
