HANOVER, PA. — Colliers International has arranged the sale of a retail property located at 61 Wilson Ave. in Hanover. The asset sold for $2.5 million, with a cap rate of 4.95 percent. Situated on 1.1 acres, the 3,950-square-foot freestanding property is absolute NNN fully-leased to Fulton Bank. Larry Kostelac, William Aiello, George Lulos of Colliers’ Harrisburg, Pa., office were the sole brokers in the transaction. The names of the buyer and seller were not released.
SAN ANTONIO — BBVA Compass will move its San Antonio offices into Weston Centre, the city’s tallest office building. As part of the move, the bank’s logo will be placed atop the building’s north and south sides, illuminating it at night. The bank signed a lease earlier this month and will move to the center of San Antonio’s financial district by mid-2017. BBVA Compass will occupy 9,600 square feet in the lobby for a retail branch, and 19,000 square feet on the second floor for corporate offices. Weston Centre will undertake extensive renovations for the new BBVA Compass space. Offices on the second floor will feature an open space layout to maximize collaboration. The offices will feature Wi-Fi and Bluetooth technologies, shared public spaces, collaboration areas and private meeting rooms.
EL PASO, TEXAS — CBRE has arranged the sale of a 22,724-square-foot data center in El Paso on behalf of SourceHOV, a provider of transaction processing solutions, strategic consulting and data analytics. El Paso investor Jason Barreras purchased the building at 2601 East Yandell Drive for an undisclosed price. Rebecca Rojas of CBRE’s El Paso office, along with Dolores Wood-Euart of the firm’s Dallas office, represented SourceHOV. Kenny Gross of Priority 1 represented the buyer. The building will be available for lease to an office or flex user by next month. SourceHOV has more than 80 locations throughout the United States, as well as a presence in Canada, China, India, Mexico and the Philippines.
BEE CAVE, TEXAS — Peloton Commercial Real Estate has broken ground on a two-building, Class A office development located adjacent to the Hill Country Galleria, Galleria Oaks in Bee Cave. Developed by Adrian Overstreet, the two 75,000-square-foot buildings and a 150,000-square-foot parking garage will be delivered next February. True Car has pre-leased 37,757 square feet and will be the lead tenant in Building I, taking the top floor and half of the second floor. True Car is expected to move into its office space in March 2017.
IRVING, TEXAS — Marcus & Millichap has arranged the sale of North Oak, a 132-unit apartment property located in Irving. Al Silva and Ford Braly of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a private California-based investor. Silva also secured the buyer, a local partnership. North Oak is a 132-unit community that was built in 1982 and is located at 1417 N. Nursery Road. Community amenities include a swimming pool, individual meters and on-site laundry facilities.
STAFFORD, TEXAS — NAI Partners has represented Quest in a 70,000-square-foot build-to-suit industrial lease at the southwest corner of Stafford Road and Stafford Boulevard in Stafford. Jon Silberman, John Simons and Holden Rushing of NAI Partners represented Quest during the negotiations, while Joe Moody represented the landlord, Black Flag Properties LLC.
PHOENIX — Exeter Property Group has purchased a three-property industrial portfolio in metro Phoenix for $66 million. The portfolio contains a total of 937,655 square feet. The acquisition includes the 603,909-square-foot Riverside Business Center; the 250,157-square-foot Estrella Buckeye distribution center; and the 83,589-square-foot 2021 S. 51st Ave. truck terminal facility. The portfolio is leased to six tenants. JLL’s Bo Mills and Mark Detmer represented the seller, Duke Realty Corp., in this transaction.
LOS GATOS, CALIF. — Donahue Schriber has acquired Los Gatos Village Square, a 46,235-square-foot grocery-anchored shopping center located in the San Francisco Bay area community of Los Gatos. Trader Joe’s anchors the fully occupied center. Nicholas Bicardo, Danny Reddin and Brandon Rogoff of HFF represented the undisclosed institutional seller in the transaction.
GRANITE BAY, CALIF. — Vestar has acquired Sierra Oaks Plaza, a neighborhood shopping center located in Granite Bay in the Sacramento metropolitan area. The asset, which is situated at the intersection of Douglas and Sierra College boulevards, sold for $28.1 million. Walmart Neighborhood Market, Chick-Fil-A, Crunch Fitness, Tri Counties Bank and Habit Burger occupy the 105,555-square-foot property. Over the past 12 months, Vestar has acquired six retail centers valued at $700 million throughout the Western states.
CENTENNIAL, COLO. — Pinnacle Real Estate Advisors LLC has arranged the sale of Centennial Corners, an 18,719-square-foot shopping center located in the Denver suburb of Centennial. Kevin Calame and Matt Lewallen of Pinnacle represented the buyer, Centennial Corners LLC, and Tom Ethington and Robert Edwards of Pinnacle represented the seller, Woodbury Corp., in the transaction. Walmart shadow-anchors the center, which is home to tenants including Anytime Fitness, Bawarchi Biryani Point, Domino’s, Anytime Lab, Game Stop and Qdoba.