Property Type

Marcus & Millichap Arranges Sale of Apartment Building in East Texas

by Haisten Willis December 4, 2015

LUFKIN, TEXAS — Marcus & Millichap has arranged the sale of Fox Run, an 89-unit apartment property located in Lufkin. Nick Fluellen and Bard Hoover of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a partnership. Fluellen and Hoover also procured the buyer, an individual/personal trust. Fox Run is located at 300 S. John Redditt Drive, just northwest of Woodland Heights Medical Center. Constructed in 1976, the asset is situated on 2.8 acres. Fox Run consists of five two-story apartment buildings and one laundry/clubroom. The unit mix for Fox Run is 24 efficiency, 33 one-bedroom/one-bath, 20 two-bedroom/one-bath, and 12 two-bedroom/two-bath units. Floor plans range in size from 525 to 998 square feet. At the time of listing, Fox Run’s reported occupancy was 97 percent.

December 4, 2015

CBRE Arranges Six Leases at Crossroads at Buellton Village

by Nellie Day December 4, 2015

BUELLTON, CALIF. — CBRE Group has arranged six leases at Crossroads at Buellton Village, a 52,628-square-foot shopping center currently under construction in Buellton. The Habit inked a deal for 2,000 square feet; Chipotle Mexican Grill signed a lease for 1,900 square feet; Supercuts leased 850 square feet; a national coffee chain signed for 1,610 square feet; a telecommunications corporation inked a deal for 1,800 square feet; and a home improvement supply store leased 39,632 square feet of space at the center. With three remaining spaces available, ranging from 1,000 square feet to 6,883 square feet, the center is slated to open in first quarter 2016. Larry Tanji, Scott Siegel and Lisa Engel of CBRE represented the developer, Buellton Village Center LLC, in the lease transactions.

December 4, 2015

California Office Western

Scripps Health, Irvine Co. Launch Retail Clinic in University City

by Nellie Day December 4, 2015

UNIVERSITY CITY, CALIF. — Scripps Health and Irvine Co. have opened Scripps HealthExpress, a retail health clinic at The Plaza, Irvine Co.’s office complex in University City. Located at 4350 La Jolla Village Drive, the 1,691-square-foot facility will feature four exam rooms and a variety of medical and wellness services on an appointment and walk-in basis. Scripps Clinic will operate the facility. The is the first healthcare facility in San Diego County to open in a workplace community.

December 4, 2015

Colorado Industrial Western

Lockheed Martin Expands at Platte Airpark Center in Colorado Springs

by Nellie Day December 4, 2015

COLORADO SPRINGS, COLO. — Lockheed Martin has signed a lease expansion at Platte Airpark Center in Colorado Springs. The aeronautics and defense contractor formerly occupied 35,669 square feet, but will now occupy 48,102 square feet. The landlord is Fairbridge Properties.

December 4, 2015

Arizona Retail Western

PGA TOUR Superstore to Open First Experiential Store in Tucson

by Nellie Day December 4, 2015

TUCSON, ARIZ. — PGA TOUR Superstore will open its first experiential Tucson, Ariz., retail store in early 2016 at the Tucson Fiesta Shopping Center. PGA TOUR Superstore has three existing Arizona stores in Chandler, North Scottsdale and Scottsdale. Its new Tucson location will be the largest golf retail store in the area. The new 25,000-square-foot PGA TOUR Superstore in Tucson will have multiple swing simulators, practice hitting bays, a large putting green and an in-house club making and repair facility to provide an interactive experience to golf enthusiasts. PGA TOUR Superstore is owned and operated by Roswell, Ga.-based Golf & Tennis Pro Shop Inc., whose controlling owner and chairman is Arthur Blank, retired co-founder of The Home Depot.

December 4, 2015

California Industrial Western

PB Financial Group Corp. Funds 20 Loans for a Total of $8.7M

by Nellie Day December 4, 2015

LOS ANGELES — PB Financial Group Corp. has funded 20 loans throughout California for a total of more than $8.7 million. The Los Angeles-based firm financed a variety of projects, from industrial buildings to multifamily properties. The properties are situated throughout the state, including Los Angeles, San Francisco, Palm Springs and various San Diego submarkets. PB Financial specializes in privately funded transactions for commercial and residential real estate in California.

December 4, 2015

Healthcare Office Texas

Henry S. Miller Arranges Sale of Medical Office Building in Arlington

by Haisten Willis December 4, 2015

ARLINGTON, TEXAS — Rebecca Harrell of Henry S. Miller represented Town Oak Properties in the sale of a 3,150-square-foot medical office building located at 919 W. Randol Mill Road in Arlington. Alavi Legacy Foundation purchased the building for a pain management clinic scheduled to open in January 2016. The building is located across the street from Texas Health Arlington Memorial Hospital.

December 4, 2015

Restaurant Retail Texas

The Silver Group Arranges Sale of a Burger King Restaurant in Brownsville

by Haisten Willis December 4, 2015

BROWNSVILLE, TEXAS — The Silver Group has arranged the sale of a single-tenant Burger King restaurant located at 925 U.S. Highway 77 in Brownsville. The freestanding 4,826-square-foot building is 1.5 years old and it replaced an older building that had become obsolete. At closing, the remaining triple-net lease term was 18.5 years. The investor acquired the asset to complete a 1031 tax-deferred exchange. Barry Silver of The Silver Group represented the out-of-state investor.

December 4, 2015

Office Texas

Colliers International Negotiates Sale of Development Site in Houston

by Haisten Willis December 4, 2015

HOUSTON — Colliers International has arranged the sale of 4.5 acres located at 5555 W. Sam Houston Parkway to CKS Land Development LLC. The property is located on the west side of Sam Houston Parkway between Clay and Tanner roads, and it will be used for the construction of a 54,500-square-foot corporate building for CKS Land Development. Plans call for construction to begin in the first quarter of 2016. Archway 5555 WSHT Ltd. was the seller and was represented by Marshall Clinkscales, Greg Cizik and Edward Edson of Colliers International. Dylan Schopper of Northwinds Commercial Realty represented the buyer.

December 4, 2015

District of Columbia Office Southeast

Cushman & Wakefield Brokers $107.9M Sale of Office Building in D.C.

by John Nelson December 4, 2015

WASHINGTON, D.C. — Cushman & Wakefield has brokered the $107.9 million sale of a 218,923-square-foot office building located at 1575 Eye St. in Washington, D.C. The property is located one block from the White House and adjacent to the McPherson Square Metrorail Station, Hay Adams, St. Regis, Capital Hilton and Hyatt Place. Two federal agencies anchor the office building: the Department of Veterans Affairs and the Federal Aviation Administration. The property’s amenities include a conference center, rooftop terrace, fitness center, parking garage and a deli. Bill Collins, Paul Collins, Drew Flood, Jud Ryan and James Cassidy of Cushman & Wakefield represented the seller, 1575 Eye Street Associates LP, in the transaction. The seller is majority-owned by the American Society of Association Executive, an anchor tenant and investor of the office building since it was delivered in 1979. Carr Properties, which manages the selling partnership, has been retained by the new owner to manage the office building.

December 4, 2015

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