Property Type

Regal Cinemas Breaks Ground on $20M Megaplex in Metro Salt Lake City

by Nellie Day April 20, 2016

TAYLORSVILLE, UTAH — Regal Cinemas has broken ground on an over $20 million megaplex located at The Crossroads of Taylorsville shopping center in the Salt Lake City suburb of Taylorsville. The 60,419-square-foot development will seat 1,400 guests in 14 auditoriums. The grand opening for the project is expected by year’s end. Regal Cinemas is part of an ongoing multi-million dollar redevelopment for The Crossroads of Taylorsville that includes local eatery Cafe Rio, which opened on the property earlier this year. Ira Mitchell of IJM represented the landlord, and Candace Gray of Envision Realty Advisors represented Regal Cinemas in the leasing transaction.

April 20, 2016

California Retail Western

SBH Real Estate Group Acquires Two Retail Properties in California for $6.2M

by Nellie Day April 20, 2016

BELLFLOWER AND GARDENA, CALIF. — SBH Real Estate Group Inc. has acquired a freestanding retail building located in Bellflower and a retail center located in Gardena for an aggregate price of $6.2 million. The 11,556-square-foot freestanding retail building in Bellflower was acquired for $2.4 million in an off-market transaction. Prior to closing, SBH signed a ten-year lease with Save A Lot for the property. Renovations are underway at the site, including a new roof, new HVAC system and upgrades to both the electrical system and parking lot. The 24,500-square-foot shopping center, located at 15015 Crenshaw Blvd. in Gardena, was acquired for $3.8 million in an all-cash transaction. Elizabeth Clark and Chris Chasin of BRC Advisors represented the sellers, Kenny and Susie Lee, and SBH in the transaction.

April 20, 2016

California Retail Western

Ware Malcomb Completes Construction of Two Car Dealerships in Laguna Niguel

by Nellie Day April 20, 2016

LAGUNA NIGUEL, CALIF. — Ware Malcomb has completed the construction of two auto dealerships – Allen Hyundai and Allen Cadillac GMC – in Laguna Niguel. Located at 28332 and 28432 Camino Capistrano, the combined projects for Allen Family Automotive Group total 36,839 square feet. The two-story Allen Cadillac GMC dealership offers 20,410 square feet of showroom and office space. The Hyundai dealership project included a 16,429-square-foot service facility and parts storage building, which was integrated into the existing building that was expanded from 2,271 square feet to 4,041 square feet. Ware Malcomb provided architectural, interior design and branding services for the project.

April 20, 2016

Arizona Multifamily Seniors Housing Western

Chicago Pacific Founders Acquires 140-Unit Independent Living Community in Tucson

by Nellie Day April 20, 2016

TUCSON, ARIZ. — Chicago Pacific Founders (CPF) and its subsidiaries, CPF Living Communities and Grace Management Inc., have acquired Manor at Midvale, a 140-unit independent living community in Tucson. This is CPF Living’s second property acquisition in the state of Arizona. The sale price was not disclosed. Manor at Midvale is a multi-story, multi-building community. The buyers plan to make investments to improve the property, though specific projects were not disclosed. Grace Management will operate the community.

April 20, 2016

California Office Western

Auto Club Relocates Insurance Claims Unit Within Valencia

by Nellie Day April 20, 2016

VALENCIA, CALIF. — The Automobile Club of Southern California is relocating its insurance claims operation to a Class A office building in the Summit At Valencia on Turnberry Lane. Mark Esses, a broker with California Realty Group who represented the Auto Club, said the company was looking for a new home for six to nine months. Esses represented the Auto Club along with Keith Kleinman. The company’s current operations are situated on Tourney Road. Kevin Fenenbock and John Erickson of Colliers International represented the landlord, Great Point Investors, in this transaction. The Auto Club absorbed the building’s entire ground floor, which equated to 29,000 square feet. The lease represents roughly half of the entire building. AAA is expected to move its regional insurance claims unit and other related groups to the new office by the third quarter of this year, said a spokesperson for the insurance group. The AAA member’s branch will continue to operate on Valencia Boulevard. There is no change for Auto Club members.

April 20, 2016

courtyard-by-marriott-cascades-at-the-colony-texas

Hospitality Texas

Courtyard by Marriott at Cascades Opens in The Colony

by Haisten Willis April 20, 2016

THE COLONY, TEXAS — Real estate developer Jackson-Shaw and hotel operator Crescent Hotels & Resorts have opened a Courtyard by Marriott to join Fairfield Inn & Suites and Residence Inn in the Cascades at The Colony development. A grand opening event will be held on Thursday, April 28. Jackson-Shaw developed the 100-acre, mixed-use campus to establish a commercial development along the north side of Sam Rayburn Tollway (SH121). Aiming to enhance the dining and entertainment scene of The Colony and north Texas, the development will also be home to a restaurant known as The Oasis at Cascades. The new Courtyard is now accepting reservations.

April 20, 2016

Loans Multifamily Texas

LMI Secures $45M in Loans in the Greater Houston Area

by Haisten Willis April 20, 2016

PASADENA, LEAGUE CITY and HOUSTON, TEXAS — LMI Capital has secured five loans totaling $45 million in the Houston area. The assets are spread across the metro area, with three situated south of the city, one centrally located and one in west Houston. The first transaction to close was a five-year, fixed-rate loan for a 415-unit apartment community in the Brookhollow submarket of Houston. Jamie Mullin of LMI Capital procured the $17 million loan that will fund a multimillion-dollar rehab component, as well as additional earn-out proceeds. Financing terms include a 5 percent fixed interest rate, two years of interest-only payments and a flexible prepayment structure. The south Houston transactions were sourced by Brandon Brown and Jamie Safier of LMI Capital and include two apartment properties in Pasadena and one in League City. Brandon Brown of LMI closed a second lien that represents 96 percent of the first lien, effectively doubling the existing leverage and allowing the borrower to capture additional equity that has been created over time. The seven-year mortgage was placed on a 90-unit asset in Pasadena. Brown obtained debt for the refinancing of a 125-unit asset in League City. The 10-year Fannie Mae loan features a fixed 4.6 …

April 20, 2016

Industrial Loans Office Texas

Cohen Financial Secures $6.8M CMBS Loan for Allen Tech Center

by Haisten Willis April 20, 2016

ALLEN, TEXAS — Casey Townsend of Cohen Financial, a national real estate capital services firm, has arranged a $6.8 million CMBS loan to acquire the Allen Tech Center. The 84,936-square-foot, one-story office/flex property is located in Allen. Townsend placed the 10-year, fixed-rate loan through Morgan Stanley.

April 20, 2016

Office Texas

Cushman & Wakefield Arranges Office Lease Renewal in Dallas

by Haisten Willis April 20, 2016

DALLAS — Gerald L. Ray, an investment services firm, has renewed its lease for 11,516 square feet of office space in Fountain Place, located at 1445 Ross Ave. just north of downtown Dallas. Bruce Hecht of Swearingen represented Gerald L. Ray in the transaction. Johnny Johnson and Lauren Napper of Cushman & Wakefield represented the landlord, Goddard Investments.

April 20, 2016

Office Texas

Rob Foster Joins Paradigm Tax Group as EVP of Sales and Marketing

by Haisten Willis April 20, 2016

DALLAS — Rob Foster has joined Paradigm Tax Group as executive vice president of sales and marketing. The company has added several key managers following the move of its headquarters to Dallas last year. Foster joins Paradigm from tax advisory firm Altus Group, where he was head of North American sales and marketing and U.S. operations. Foster has built his career in the state and local tax advisory business, gaining experience in leadership roles at Deloitte, Burr Wolf and Marvin Poer & Co.

April 20, 2016

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