Property Type

HFF Facilitates Sale of Coit Medical Center in Dallas

by Amy Works December 9, 2016

DALLAS — HFF has arranged the sale of Coit Medical Center, a medical office building located at 12230 Coit Road in Dallas. Mohr Capital sold the 32,201-square-foot property to Anchor Health Properties for an undisclosed price. Baylor Scott & White Health, Greater Dallas Orthopaedics, Legacy Heart Care, Texas Orthopaedic Surgical Associates and Lester Plastic Surgery occupy the fully leased building, which was built in 2009. Evan Kovac, Todd Savage, Philip Mahler and Ben Appel of HFF represented the seller in the deal.

December 9, 2016

California Hospitality Western

Crowne Plaza Hanalei in San Diego Trades Hands

by Nellie Day December 9, 2016

SAN DIEGO — A private client of Brighton Management has acquired the 419-room Crowne Plaza Hanalei in the San Diego submarket of Mission Valley for an undisclosed sum. The hotel is located at 2270 Hotel Circle N. The hotel will continue to operate under the Crowne Plaza flag. The new owner plans to make significant renovations and upgrades to the property. Brighton will manage the hotel. CBRE’s Bob Kaplan and Rod Apodaca represented the seller, Hanalei Associates LLC (with Multi-Ventures acting as a managing member), in this transaction.

December 9, 2016

California Retail Western

Joint Venture Acquires 120,000 SF Retail Center in Oakland

by Nellie Day December 9, 2016

OAKLAND, CALIF. — A joint venture between Western Avenue Capital and Northstar Enterprise Opportunity Fund I has acquired Foothill Square Shopping Center in Oakland for an undisclosed sum. At the time of sale, the 120,000-square-foot property was 95 percent leased to national and regional tenants, including FoodsCo, Ross Dress for Less, Wells Fargo, Davita, Rainbow and a school. The name of the seller was not released.

December 9, 2016

California Retail Western

Retail Insite Brokers $6M Sale of 5,946 SF Retail Building in National City

by Nellie Day December 9, 2016

NATIONAL CITY, CALIF. — Retail Insite has arranged the sale of a retail property located at 1302 E. Plaza Blvd. in National City. Plaza Boulevard 111 Partners sold the property to Bill Jay Corp. for $6 million. The 5,946-square-foot property is leased to Mission Federal Credit Union, 85°C Bakery Café and Bank of America ATM. Don Moser of Retail Insite represented the seller, while Chuck Klein of Cushman & Wakefield represented the buyer in the transaction.

December 9, 2016

California Loans Retail Western

NorthMarq Capital Negotiates $4.9M Refinancing for Retail Center in Vallejo

by Nellie Day December 9, 2016

VALLEJO, CALIF. — NorthMarq Capital has arranged $4.9 million in refinancing for a retail center located in Vallejo. Mark Dodson secured the loan, which features a five-year term, for the undisclosed borrower. Comcast, Domino’s Pizza, Subway and AT&T occupy the 23,347-square-foot retail property.

December 9, 2016

California Retail Western

Sprouts Farmers Market Inks 35,250 SF Lease for New Location in Rancho Cucamonga

by Nellie Day December 9, 2016

RANCHO CUCAMONGA, CALIF. — Sprouts Farmers Market has signed a lease for 35,250 square feet of retail space to anchor Alta Loma Plaza, a retail center located at 6701 Carnelian St. in Rancho Cucamonga. The new store, which is the second location in the city, is expected to open in spring 2017. Other tenants at the 70,000-square-foot retail center include Walgreens and Del Taco. Brad Umansky and Paul Galmarini of Progressive Real Estate Partners represented the undisclosed landlord, while Ryan Sullivan of Western Retail Advisors represented the tenant in the deal.

December 9, 2016

Florida Industrial Southeast

Meridian Development Group Sells 907,237 SF Distribution Center in Sarasota for $51M

by John Nelson December 9, 2016

SARASOTA, FLA. — Meridian Development Group has sold Meridian Distribution Center, a 907,237-square-foot warehouse situated on 50 acres in Sarasota. Toronto-based Agellan Capital Partners Inc. purchased the property for $51 million and will retain Meridian Management Group to serve as the property manager. The asset is fully leased to four tenants — United Natural Foods International occupies 460,000 square feet of dry and refrigerated space, Bealls occupies 200,000 square feet, Access USA leases 163,000 square feet and Albert’s Organics occupies 80,000 square feet of cooler/freezer space. Meridian purchased the former Winn Dixie distribution facility in 2006 for $30 million. In 2009, Meridian developed a two-story, 55,000-square-foot charter school on the site for Imagine Schools and sold it earlier this year for $10.2 million. Kevin Heiss of Largo Real Estate Advisors represented Meridian in the sale of Meridian Distribution Center.

December 9, 2016

Florida Retail Southeast

Miller Construction Underway on New Fort Lauderdale MINI Dealership

by John Nelson December 9, 2016

FORT LAUDERDALE, FLA. — Miller Construction Co. has begun converting a two-story former auto rental building at 2125 S. Federal Highway in Fort Lauderdale into a new MINI dealership. The new 55,507-square-foot Lauderdale MINI is Miller Construction’s fifth project for Holman Automotive, which will move the existing Lauderdale MINI dealership from its current location a few blocks north on Federal Highway. Holman Automotive will display the new MINI cars on the ground floor of the new property and house certified pre-owned MINI cars on the second floor. Miller Construction plans to deliver the new glass and metal-faced auto dealership in spring 2017.

December 9, 2016

Alabama Loans Retail Southeast

NorthMarq Capital Arranges $24M Acquisition Loan for Shopping Center in Alabama

by John Nelson December 9, 2016

SPANISH FORT, ALA. — NorthMarq Capital has arranged a $24 million acquisition loan for Eastern Shore Plaza, a 270,105-square-foot shopping center located at 10200 Eastern Shore Blvd. in Spanish Fort. Chad Owens of NorthMarq Capital’s Houston office arranged the 10-year loan with two years of interest-only payments and a 30-year amortization schedule. Owens arranged the loan through an undisclosed CMBS lender on behalf of the borrower, Eastern Shore Plaza LLC, an entity controlled by Azad Commercial Realty Services.

December 9, 2016

Georgia Office Southeast

PCCP, Carter Sign Honeywell to 62,000 SF Lease at 715 Peachtree in Atlanta

by John Nelson December 9, 2016

ATLANTA — PCCP LLC and Carter have leased more than 62,000 square feet of office space to Honeywell International Inc., a global technology company with ties to the aerospace and homebuilding industries, at the 715 Peachtree building in Midtown Atlanta. Honeywell expects to grow to more than 700 employees at the building over the next five years. The firm is investing roughly $19 million into the new office space, which will house the company’s Home and Building Technologies headquarters. The 10-story, 318,000-square-foot office building is situated adjacent to Fox Theatre. The property was originally constructed as the regional headquarters for J.C. Penney.

December 9, 2016

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