Property Type

NAI Hanson Negotiates Sale of 96,500 SF Industrial Building in Harriman, New York

by Amy Works February 17, 2017

HARRIMAN, N.Y. — NAI James E. Hanson has brokered the sale of an industrial building, located at 2 Bailey Farm Road in Harriman. Contract Packaging Services acquired the 96,500-square-foot property from Why Associates for an undisclosed price. Situated on 20 acres, the property features five loading docks and 80 parking spaces, as well as the option for a 100,000-square-foot expansion. The buyer exercised its purchasing option on the property after completing a five-year lease at the location. Kenneth Lundberg and Patrick Lennon of NAI Hanson represented the seller in the deal.

February 17, 2017

California Loans Office Western

Quantum Capital Arranges $47M Refinancing for Mixed-Use Project

by Nellie Day February 17, 2017

CULVER CITY, CALIF. — Quantum Capital Partners has arranged $47 million in refinancing for Platform, a 75,000-square-foot office and retail property located in the Hayden Tract district of Culver City. The borrower, Runyon Group, will use the proceeds to retire construction debt and equity on the property, which was completed in late 2016. Mike Yim and Jonathan Hakakha of Quantum arranged the 10-year, non-recourse loan through Wells Fargo for the borrower. The 75,000-square-foot project features approximately 40,000 square feet of office space and 35,000 square feet of retail and restaurant space. The retail portion is currently 98 percent leased to a variety of tenants including Reformation, Magasin, SoulCycle, The Shop, Loqui, Blue Bottle Coffee, Van Leeuwen, Sweetgreen and The Cannibal.

February 17, 2017

California Multifamily Seniors Housing Western

Anvil Development Buys Four Acres Near San Francisco for Skilled Nursing Facility

by Nellie Day February 17, 2017

SANTA ROSA, CALIF. — Cushman & Wakefield has negotiated Anvil Development’s acquisition of four acres in Santa Rosa, just north of San Francisco, for $1.5 million. The developer plans to build a 59-bed skilled nursing facility on the property. A.J. Ventures sold the plot. The skilled nursing facility will be 37,000 square feet once completed. The Cushman & Wakefield team of Travis Ives, Matt Davis, Terry Jackson and Curtis Buono represented the buyer in the transaction.

February 17, 2017

California Retail Western

CBRE Brokers $17.9M Sale of Retail Property in Los Angeles

by Nellie Day February 17, 2017

LOS ANGELES — CBRE has arranged the sale of a single-tenant retail building located in Los Angeles. An Orange County, Calif.-based family partnership sold the building to a Los Angeles-based private investor for $17.9 million. Numero Uno Markets occupies the 24,575-square-foot building on a long-term, triple-net corporate lease. Arthur Flores of CBRE represented the seller, while Janet Newman of Charles Dunn Co. represented the buyer in the deal.

February 17, 2017

California Retail Western

CalBay Development Acquires Restaurant Site in West Covina for $5.5M

by Nellie Day February 17, 2017

WEST COVINA, CALIF. — CalBay Development has purchased a restaurant site at the Plaza West Covina Mall in West Covina for $5.5 million. Elephant Bar previously occupied the space, but vacated in late 2016. The property, which also includes a freestanding Pacific Western Bank, totals 1.75 acres and 11,500 square feet of gross leaseable area. The Kozakov-Wade team of CBRE/Los Angeles represented the sellers, a private family and heirs of the original property developer in the deal.

February 17, 2017

California Retail Western

Progressive Real Estate Partners Negotiates $3.5M Sale of Shopping Center in Yucaipa

by Nellie Day February 17, 2017

YUCAIPA, CALIF. — Progressive Real Estate Partners has arranged the sale of Yucaipa Plaza, a retail and office property located at 34469-79 Yucaipa Blvd. in Yucaipa. An Orange County, Calif.-based private investor sold the property to a Los Angeles-based private investor for $3.5 million. Built in 1970, the 37,453-square-foot building features ground-floor retail space and office space on the second floor. Current tenants include Papa John’s Pizza, Boost Mobile and Allstate. Greg Bedell and Pablo Velasco of Progressive Real Estate Partners represented the seller and buyer in the deal.

February 17, 2017

Retail Texas

Park Place Dealerships to Develop 70,000 SF Porsche Dealership in Grapevine

by Amy Works February 17, 2017

GRAPEVINE, TEXAS — Park Place Dealerships is developing a Porsche dealership off Texan Trail and State Highway 114 in Grapevine. Construction on the two-story, 70,000-square-foot dealership is expected to start within the next 30 days, with completed slated for spring 2018. The project will create more than 180 temporary construction jobs and approximately 50 permanent jobs. Park Place Porsche will have the capacity to feature 21 display vehicles on the showroom floors and feature a shop with 28 service and make-ready bays. Hill & Wilkinson is serving as general contractor, and Good, Fulton & Farrell is providing architectural services for the project.

February 17, 2017

Office Texas

Davis Holdings Purchases 33,000 SF Loft Office Building in Houston

by Amy Works February 17, 2017

HOUSTON — Davis Holdings has acquired a fully occupied office building located at 1500 McGowen St. in Houston. Skyland Lodge Tract sold the 33,000-square-foot property for an undisclosed price. Originally built in 1972 and renovated in 2002, the two-story, Class B office building features loft-style office space with modern building systems. Louis Rosenthal of JLL represented Davis Holdings, while David Husid and Brandi McDonald of Newmark Grubb Knight Frank represented the seller in the deal.

February 17, 2017

Restaurant Retail Texas

Venture Commercial Brokers Sales of Two Restaurant Properties in North Texas

by Amy Works February 17, 2017

WEATHERFORD AND GRAND PRAIRIE, TEXAS — Venture Commercial Real Estate has arranged the sales of two restaurant properties in north Texas. John Zikos, Jonathan Cooper, Christopher Gibbons and Don Miller of Venture represented the sellers in both transactions. Raising Cane’s Chicken Fingers occupies both properties. In the first deal, RC Weatherford Partners sold a 3,587-square-foot, single-tenant, net-leased restaurant property located at 1824 S. Main St. in Weatherford. Beutler Exchange Group for 4 Mile and Weed Ranches acquired the property for an undisclosed price. Arthur Flores of CBRE represented the buyer in the deal. In the second transaction, Life in the Fast Food Lane sold a 2,722-square-foot restaurant property located at 2960 W. Camp Wisdom Road in Grand Prairie to Weinberg LLC for an undisclosed price. Jason Jones of California Lifestyle Realty represented the buyer in the deal.

February 17, 2017

Hospitality Texas

Marcus & Millichap Negotiates Sale of 87-Room Hotel in North Richland Hills, Texas

by Amy Works February 17, 2017

NORTH RICHLAND HILLS, TEXAS — Marcus & Millichap has brokered the sale of Best Western Northeast Mall Inn & Suites, a hotel located at 8709 Airport Freeway in North Richland Hills. A limited liability company acquired the 87-room hotel for an undisclosed price. Constructed in 1984 and recently renovated, the property features a fitness center, pool and spa, meeting space and fully equipped business center. Chris Gomes and Allan Miller of Marcus & Millichap represented the seller, a limited liability company, and procured the buyer in the transaction.

February 17, 2017

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