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HospitalityMixed-UseMultifamilyOfficeRestaurantRetailTexas

Trademark to Develop 82-Acre Mixed-Use Project in Metro Houston

by Haisten Willis

KATY, TEXAS — Trademark Property Co. has entered into an agreement with Westside Ventures to develop an 82-acre mixed-use development at the northwest corner of I-10 and Mason Road in Katy. Planning will continue in the coming months for the initial 60-acre phase, which will include retail, restaurant, residential, hotel and office space. The site, which is part of a larger 107-acre tract owned by Westside Ventures, will be developed in phases over several years. Phasing and a construction timeline will be scheduled following planning.

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RetailTexas

Academy Sports + Outdoors Opens in Valley Ranch Town Center

by Haisten Willis

THE WOODLANDS, TEXAS — Academy Sports + Outdoors is now open in Valley Ranch Town Center, a 240-acre retail district located at the intersection of I-69 and the Grand Parkway. Academy is situated in the 1,400-acre master-planned community of Valley Ranch just north of Kingwood, a development of The Signorelli Co. and is the first of over 85 stores and restaurants expected to open in Valley Ranch Town Center. This is the 95th location for Katy-based Academy Sports + Outdoors, and is expected to employ about 100 people. Houston-based Arch-Con is the contractor for the 63,000-square-foot store.

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RetailTexas

DIG Brokers Sale of Three Retail Properties for $16M

by Haisten Willis

HURST and SPRING, TEXAS — Disney Investment Group (DIG) has brokered the $16 million sale of three retail properties in Texas. The properties are: Sprouts Crossing in Hurst. The Class A grocery-anchored center totals 60,706 square feet and is anchored by Sprouts. The property was 75 percent occupied at the time of closing. Austin-based EPIC Real Estate Partners purchased Sprouts Crossing; Wellington Place in Hurst. The unanchored shopping center totals 17,327 square feet. Wellington Place is adjacent to Sprouts Crossing and was acquired by the same buyer. EPIC will facilitate a redevelopment and expansion of Sprouts Crossing with the Wellington acquisition; Walgreens in Spring. The single tenant, net leased property is leased to. A private buyer utilizing a 1031 tax-deferred exchange purchased the asset. David Disney and Adam Crockett of DIG represented the sellers and procured the buyers for each property, excluding the seller of Wellington Place.

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MultifamilyTexas

M&M Arranges Sale of 80-Unit Apartment Building in Houston

by Haisten Willis

HOUSTON — Marcus & Millichap has arranged the sale of Colonial Oaks Apartments, an 80-unit apartment property located in Houston. Juan Cuevas and Lucas Fertitta of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, a limited liability company. Cuevas and Fertitta also secured and represented the buyer, a limited liability company. Colonial Oaks Apartments is located at 3940 South Shaver St.

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CaliforniaRetailWestern

CBRE Facilitates $15.6M Sale of Tesla-Leased Retail Property in Santa Monica

by Nellie Day

SANTA MONICA, CALIF. — CBRE has arranged the sale of a retail property located at 1227 3rd St. Promenade in Santa Monica. A joint venture between KLM Equities and Harlington Realty acquired the 3,000-square-foot property for $15.6 million. The property is currently occupied by Tesla Motors. Constructed in 1938, the building underwent a complete revamp in 2012 to become a state-of-the-art showroom for Tesla. Timothy Bower, Ken McLeod and Tim Kuruzar of CBRE represented the undisclosed seller and the buyer in the deal.

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CaliforniaRetailWestern

NAI Capital Brokers $7.5M Sale of a Retail Building West Hollywood

by Nellie Day

WEST HOLLYWOOD, CALIF. — NAI Capital has arranged the sale of a retail property located at 8126 Beverly Blvd. in West Hollywood. Los Angeles-based investor Arash Denialifar acquired the property from Hamilton Properties for $7.5 million, or $852 per square foot. Previously occupied by Environment Furniture, the 8,800-square-foot property features a private parking lot. Ian Strano of NAI Capital’s Westwide office represented the seller and buyer in the transaction.

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CaliforniaRetailWestern

Marcus & Millichap Negotiates $2.8M Sale of Carl’s Jr. Ground Lease in Oxnard

by Nellie Day

OXNARD, CALIF. — Marcus & Millichap has brokered the sale of ground lease for 480 N. Rose Ave. in Oxnard. A limited liability company sold the property to a private investor for $2.82 million. The 3,000-square-foot property is net-leased to Carl’s Jr. Lior Regenstreif of Marcus & Millichap represented the seller and buyer in the transaction.

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CaliforniaOfficeWestern

Progressive Real Estate Partners Brokers $2.2M Sale of Retail/Office Building in Chino

by Nellie Day

CHINO, CALIF. — Progressive Real Estate Partners has arranged the sale of a mixed-use building located at 4774 Riverside Drive in Chino. A private investor based in Orange County, Calif., sold the 8,000-square-foot property for $2.2 million, or $278 per square foot. A private Chino Hills-based investor acquired the retail/office property, which is fully occupied by Mother’s Nutritional Center, WIC, T-Mobile Cell Tower and two medical office tenants. Frank Vora of Progressive Real Estate Partners represented the seller, while Leo Gao of Reno Business Investment Group represented the buyer in the deal.

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CaliforniaRetailWestern

Colliers Negotiates 3,750 SF Restaurant Lease in San Fernando Valley

by Nellie Day

SAN FERNANDO VALLEY, CALIF. — Colliers Retail Foresight has arranged a lease for restaurant space at North Hills Vallarta Center in San Fernando Valley. Stinkin Crawfish will occupy 3,750 square feet of space at the 61,000-square-foot neighborhood shopping center. James Rodriguez, Michael Bohorquez and Bradley Pagnone of Colliers Retail Foresight represented the undisclosed landlord in the lease.

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101-tremont-boston-ma
MassachusettsNortheastOfficeRetail

Paradigm Properties, Alcion Ventures Sell Office/Retail Building in Boston

by Amy Works

BOSTON — Paradigm Properties and Alcion Ventures have completed the sale of 101 Tremont, an office and retail building in downtown Boston. GLL Real Estate Partners acquired the property for an undisclosed price. Robert Griffin, Edward Maher and Matthew Pullen of NGKF Capital Markets represented the seller in the transaction. The 11-story building recently underwent extensive base building and tenant area improvements that transformed the asset into a mixed-use property. At the time of sale, the property was 100 percent leased to three innovative healthcare firms and a variety of on-site retailers, including Beantown Pub, Hollywood Nails, Silvertone and Ziggy’s Coffee Bar.

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