TAMPA, FLA. — Rosemurgy Properties has purchased The Shops on South Howard, a 21,393-square-foot retail center located at 533 S. Howard Ave. in south Tampa, for $10.5 million. The property’s tenant roster includes Chipotle, Jimmy John’s, GNC, The Optic Shop and Edward Jones. Nat Scarmazzi of HFF’s Miami office represented Rosemurgy Properties in the transaction.
CONCORD, N.C. — Colliers International has brokered the $10.5 million sale of a 135,197-square-foot, freestanding Lowe’s Home Improvement store located at 940 Concord Parkway in Concord, a northern suburb of Charlotte. Built in 1999, the property currently has three-and-a-half years remaining on its 20-year lease. Jon Busse of Colliers International’s San Diego region and Greg Copps of the firm’s Charlotte office represented the seller, Carolina Emerald LLC, in the transaction. Brad Grow of Colliers International’s Charlotte office represented the buyer, Tailwind Charlotte Retail LLC, a private investment group based in Dallas.
NORTH BAY VILLAGE, FLA. — Owens Realty Mortgage Inc. (NYSE: ORM) has agreed to sell Treasures on the Bay, a multifamily community located in North Bay Village, to an undisclosed buyer for $82 million. Owens Realty Mortgage owns an 81 percent interest in the property, with the company’s manager, Owens Financial Group Inc., owning the remaining 19 percent. The property, located approximately 10 miles away from Miami in North Bay Village, is comprised of 169 condominium units and 160 apartment units. The community offers one-, two- and three-bedroom units ranging from 925 to 1,289 square feet. Unit amenities include ceramic tile kitchens and baths, European-style cabinetry, hurricane-resistant windows and sliding glass doors, marble counter-tops and floor-to-ceiling tinted glass. Community amenities include a 24-hour fitness center, bayfront boardwalk, controlled access, surface parking, two bayfront pools and wireless hot spots. “We are very pleased to put this property into contract,” says Bryan Draper, CEO of Owens Realty. “We recently completed substantial improvements to this property, further enhancing the company’s book value, and expect this sale will unlock significant embedded equity and provide cash for continued expansion of our lending operations and reduce our overall levels of debt.” A $21.3 million loan was …
ATLANTA — There are many moving parts when refreshing or renovating a hotel property, and the key is engaging everyone involved early and often. This was the message delivered on St. Patrick’s Day, March 17, by a panel of hospitality experts during the 28th annual Hunter Hotel Conference held at the Atlanta Marriott Marquis. Titled “Design to Inspire: Creating the Unexpected,” the breakout session featured a four-member panel that included Libby Patrick, president of Atlanta-based interior design firm Sims Patrick Studio; Bethany Warner, director of design management for Starwood Hotels & Resorts Worldwide; Sam Cicero Jr., president of Plainfield, Ill.-based Cicero’s Development Corp., a general contractor specializing in commercial renovation; and Alan Benjamin, president of Boulder, Colo.-based Benjamin West, a furniture, fixtures and equipment (FF&E) purchasing firm. Johnathan Nehmer, chairman and founder of Rockville, Md.-based architecture firm Jonathan Nehmer + Associates, served as moderator. The session was the first design-focused panel in the conference’s history. “How do we create the unexpected in design?” asked Nehmer. “How do we put that ‘wow’ factor out there and what role does design play in the hospitality experience? What we’re going to talk about today is how designers and contractors and purchasing agents do that.” …
SAN DIEGO — Voit Real Estate Services has arranged the sale of an investment property located at 2576 Clairemont Drive in San Diego. Bella Lago LLC acquired the 25,461-square-foot property from Sunshine Finance Corp. for $6 million. A 7-Eleven and Washman USA currently occupy the asset. Kipp Gstettenbauer and Ryan King of Voit Real Estate Services represented the buyer in the transaction.
LAKE FOREST, CALIF. — Camisasca Living Trust has purchased an 18,156-square-foot industrial building in Lake Forest for $3.7 million. The building is located at 20341 Hermana Circle. The trust plans to use the facility to manufacture and distribute car accessories. NGKF’s David L. Kluver represented the seller, Amkly Enterprises LLC, in this transaction.
LAKE FOREST, CALIF. — Newmark Grubb Knight Frank has brokered the sale of two-tenant, triple-net leased retail property located at 29100 Portola Parkway in Lake Forest. Amkly Enterprises purchased the asset from Salok CA LLC for $2.9 million. Built in 2002, the Clineva Urgent Care and Patchs Coffee fully occupy the property. David Kluver of NGKF represented the buyer in the transaction.
HOQUIAM, Wash. — Blueprint Healthcare Real Estate Advisors has arranged the $2.6 million sale of Karr House, a 40-unit assisted living in Hoquiam, along the coast of Washington State approximately 110 miles southwest of Seattle. A national owner/operator looking to divest non-core assets sold the property to a regional operator. The names of the parties were disclosed. The purchase price equates to approximately $65,000 per unit. Blueprint’s Ben Firestone, Jacob Gehl and Trent Gherardini were the lead advisors on this transaction.
ALHAMBRA, CALIF. — Shea Properties has signed two new restaurants to Alhambra Place in Alhambra. Slated to open in late summer, the two restaurants will be located on the corner of Main and Garfield. Big Catch Seafood House specializes in Cajun-style cooking, and Tokyo Table is a contemporary Japenese restaurant. Sprouts Farmers Market anchors the 140,000-square-foot Alhambra Place.
KATY, TEXAS — Lowe’s Cos. will build a 100,000-square-foot Lowe’s Home Improvement store at The Shoppes at Cinco Ranch in Katy. Thor Equities is developing retail stores and restaurant spaces throughout the remainder of the 35-acre property. Current tenants at The Shoppes at Cinco Ranch include Walgreens, with Kroger and Academy Sports + Outdoors located across the street. The Shoppes at Cinco Ranch is accessible via the Westpark Tollway and bisected by Spring Green Boulevard, with parking and sidewalks throughout the property. Nearby amenities include several golf courses, more than 100 neighborhood parks, a beach club, water park and more than 100 miles of hiking and biking trails.
