Property Type

Dunhill Partners Acquires The Shoppes at Chino Hills for $147M

by Nellie Day October 1, 2015

CHINO HILLS, CALIF. — Dunhill Partners Inc. has acquired The Shoppes at Chino Hills, a 377,966-square-foot lifestyle center located in the Los Angeles suburb of Chino Hills, for $147 million. Ryan Gallagher and CJ Osbrink, with assistance from John Crump and Bryan Ley, of HFF represented the seller, MX3 Ventures, in the transaction. The open-air center was 96 percent occupied at the time of sale by tenants including anchors Forever 21, H&M, Trader Joe’s, Banana Republic, Victoria’s Secret and Barnes & Noble.

October 1, 2015

California Retail Western

Scripps Ranch Marketplace Phase II Sells for $20.4M

by Nellie Day October 1, 2015

SAN DIEGO — A private investor has purchased Scripps Ranch Marketplace Phase II, a 28,700-square-foot shopping center located in San Diego, for $20.45 million. Philip Voorhees, Todd Goodman, Preston Fetrow, Kirk Brummer, Megan Wood, Brad Rable, Matt Burson, Jimmy Slusher and John Read of CBRE and Mike Moser of Retail Insite represented the seller, a San Diego-based private asset management and investment company, in the transaction. A Santa Barbara-based private investor purchased the fully occupied property. The center is shadow anchored by Vons and CVS/pharmacy, and home to tenants including Chase, Verizon and Which Wich.

October 1, 2015

California Retail Western

Hanley Investment Group Arranges $15.2M Sale of Single-Tenant LA Fitness

by Nellie Day October 1, 2015

RIVERSIDE, CALIF. — Hanley Investment Group has arranged the $15.2 million sale of a newly built, 45,000-square-foot, single-tenant LA Fitness located in Riverside. Pat Kent and Bill Asher of Hanley Investment Group worked on behalf of the seller, GRAE La Sierra LLC, and George Ragheb of Entrance Homes Inc. represented the buyer, a Lakewood, Calif.-based private investor, in the transaction.

October 1, 2015

Colorado Multifamily Student Housing Western

Cardinal Group to Manage 9Seventy Near the University of Colorado at Boulder

by Nellie Day October 1, 2015

BOULDER, COLO. — Cardinal Group Management will manage 9Seventy in Boulder, located on the east side of the University of Colorado at Boulder. The property is comprised of 138 units across five four-story buildings. Beginning in November 2015, 9Seventy will offer studio, one-, two- and three-bedroom apartment homes. The community will have a resident clubroom with kitchen, outdoor grilling area, views overlooking Chautauqua Park and the Flatirons, swimming pool, fitness center, business center, billiards table and guest patio. Cardinal Group Management will now manage more than 11,000 units in 20 states.

October 1, 2015

California Retail Western

Dollar Tree to Open New Store in Claremont

by Nellie Day October 1, 2015

CLAREMONT, CALIF. — Dollar Tree will open a new 9,000-square-foot store at 342 S. Indian Hill Blvd. in Claremont later this year. The store will be located within the recently renovated Peppertree Square neighborhood center. Janine Peltier of Progressive Real Estate Partners represented the lessor in this transaction.

October 1, 2015

Hospitality Texas

Hill & Wilkinson Breaks Ground on $175M Redevelopment Project in Downtown Dallas

by Haisten Willis October 1, 2015

DALLAS — Hill & Wilkinson General Contractors has broken ground on a $175 million redevelopment project in downtown Dallas. Both the historic Statler Hilton Hotel, built in 1956 and located at 1900 Commerce St., and the adjacent Old Dallas Central Library will be renovated to create an entertainment hub. The 702,615-square-foot project includes complete restoration of the buildings’ exteriors and the conversion of the upper 11 stories into 229 residential units. The five middle stories will be converted into 164 hotel rooms. Two lower floors will be converted into ballrooms, meeting rooms, hotel services, lobbies, restaurants and retail space. The Jackson Street and basement levels of the Statler Hilton and the library will be converted into a 250-car parking garage. Centurion American Development Group is the owner and developer. Merriman Associates/Architects Inc. is the architect, and Besharkhah Engineering Inc. is the engineer for the project. Centurion plans to apply for Historic Tax Credits, and the city of Dallas has provided $43.5 million in tax increment financing for the redevelopment, which is slated for completion in December 2016.

October 1, 2015

Retail Texas

SHOP Cos. Investment Sales Arranges Sale of Retail Properties in Metro Dallas

by Haisten Willis October 1, 2015

DALLAS, FLOWER MOUND AND WICHITA FALLS, TEXAS — SHOP Cos. Investment Sales has arranged the sale of three retail properties totaling 22,733 square feet in metro Dallas. Tommy Tucker and Tim Axilrod of SHOP Cos. represented the three different sellers in each transaction. The transactions included Jack in the Box, a 2,481-square-foot net leased restaurant located at the corner of Royal Lane and I-35 East in Dallas. The property is located 15 miles northwest of downtown Dallas and eight minutes east of the Dallas/Fort Worth International Airport. Jack in the Box has been a tenant at the property for more than 18 years. SHOP Cos. represented the seller, a Texas-based limited liability company. A private investor from California was the buyer. SHOP Cos. also brokered the sale of a 2,661-square-foot Dairy Queen located on a 1.5-acre pad site in Flower Mound. Dairy Queen signed a 20-year lease prior to closing. SHOP Cos. represented the seller, a private Texas-based limited partnership. A private investor from Louisiana was the buyer. The last transaction was Gabriella’s Square, a 17,591-square-foot shopping center in Wichita Falls. The property fronts I-44/U.S. Route 277. At the time of closing, the property was 44.3 percent leased to tenants including …

October 1, 2015

Industrial Multifamily Office Retail Texas

Vitorino Group Launches in Dallas

by Haisten Willis October 1, 2015

DALLAS — After 12 years with Marcus & Millichap, a team of commercial real estate agents has started its own firm, the Vitorino Group. The team aims to build on its track record of retail investment sales throughout Texas and the Southwest, but will expand its business model to include all facets of a commercial real estate firm. Jason Vitorino leads the company, which opened Sept. 28. Vitorino Group also includes Jared Aubrey, Michael Austry, Adam Gottschalk, Anthony Pucciarello, Bryce Gissler and James Mangum. The Vitorino Group also employs a transaction coordinator, financial analyst, marketing coordinators and research analysts.

October 1, 2015

Mixed-Use Restaurant Retail Texas

Howard Hughes Corp. Opens Restaurant Row at Hughes Landing in The Woodlands

by Haisten Willis October 1, 2015

THE WOODLANDS, TEXAS — The Howard Hughes Corp. and its wholly-owned subsidiary The Woodlands Development Co. have officially opened Restaurant Row at Hughes Landing, a mixed-use development including restaurants, retailers, multifamily residences, entertainment venues, office buildings and an Embassy Suites by Hilton hotel. California Pizza Kitchen, Del Frisco’s Grille, Escalante’s Fine Tex-Mex & Tequila and Local Pour are now open in Restaurant Row, with Truluck’s and Fogo de Chão under development. Retailers now open include Cadence Bank, CUPS Frozen Yogurt, KB Kasuals, Kriser’s Natural Pet, Pier 1 Imports, Starbucks, Venetian Nail Spa and Whole Foods Market. Other retails, including 18|8 Fine Men’s Salons, Macaron by Patisse and Willa Boutique, will open at Hughes Landing soon.

October 1, 2015

Multifamily Texas

29th Street Capital Acquires Apartment Community in Metro Houston

by Haisten Willis October 1, 2015

PASADENA, TEXAS — 29th Street Capital (29SC), a privately held real estate firm, has acquired Casa Palmas, a 308-unit apartment community in the southeast Houston suburb of Pasadena. The transaction closed Sept. 29. 29SC purchased the asset from a Dallas-based investment group on an off-market basis. The asset, built in 1970, has undergone capital upgrades over the last 10 years, including new roofs and siding, as well as improvements to the amenities and interiors. 29SC plans to invest an additional $700,000 ($2,200 per unit) to install black appliances and upgrade plumbing, light fixtures and cabinet hardware. Casa Palmas, located at 3500 Red Bluff Road, is located near Beltway 8 and the Pasadena Freeway.

October 1, 2015

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