Property Type

Cain Brothers Arranges $40M in Bond Financing for Good Samaritan Society

by Nellie Day March 7, 2016

SIOUX FALLS, S.D. — Cain Brothers has arranged $40 million in taxable bank direct-purchase bonds for The Evangelical Lutheran Good Samaritan Society, a nonprofit operator of seniors housing based in Sioux Falls. Founded in 1922, the society operates skilled nursing facilities, senior apartments, home health services and affordable housing in over 230 locations in the United States. Proceeds from the financing were used to pay down a line of credit that was initially drawn upon to fund the purchase of a home health agency that provides services in New Mexico and Arizona. The acquisition more than doubled the society’s existing home health business. Cain Brothers arranged the financing through an undisclosed bank.

March 7, 2016

California Retail Western

Irvine Co. Plans $30M Reinvestment for Woodbridge Village Center in Irvine

by Nellie Day March 7, 2016

IRVINE, CALIF. — Irvine Co. has planned a $30 million reinvestment for Woodbridge Village Center in Irvine. The transformation will upgrade the retail, dining and entertainment mix at the retail center and create an open-air community space for visitors and retailers. The makeover will reduce the center’s overall square footage by nearly 15,000 square feet, allowing for the community gathering spot and improved parking. Redevelopment work is slated to start in August, with completion scheduled for late 2017.

March 7, 2016

California Retail Western

ACI Apartments Brokers $2.5M Sale of Retail Property in Talmadge

by Nellie Day March 7, 2016

TALMADGE, CALIF. — ACI Apartments has arranged the sale of a retail strip center located at 4412 Euclid Ave. and 4746 El Cajon Blvd. in Talmadge. San Diego-based Talmadge Gateway LP acquired the asset from La Mesa, Calif.-based Alessio Leasing Corp. for $2.5 million. The three-parcel property totals 35,183 square feet of retail space. Ricardo Lopez and Keith Courtney of ACI Apartments represented the seller and buyer in the transaction.

March 7, 2016

California Multifamily Western

San Diego Apartment Community Sells for $2.2M

by Nellie Day March 7, 2016

SAN DIEGO — Bruce Kleege has acquired a six-unit apartment community in the San Diego submarket of Crown Point for $2.2 million. The community is located at 3847-63 Sequoia St. It is situated half a block from Mission Bay and Crown Point Park. The property was built in 1955. It was fully occupied at the time of sale. The buyer represented himself, while Ciara Trujillo, David Santistevan and Gunder Creager of Colliers International represented the seller, Sequoia Street Apartments, in this transaction.

March 7, 2016

California Retail Western

Pet Food Express Opens New Location in Long Beach

by Nellie Day March 7, 2016

LONG BEACH, CALIF. — Pet Food Express has opened its newest location in California. Located at 4220 Long Beach Blvd., the store is the company’s fifth location to open in Southern California, along with the 52 stores in Northern California. The new location will feature an indoor dog park; permanent state-of-the-art cat adoption center; permanent event rooms for adoptions, dog training and dog birthday parties; newly designed self-service pet wash stations with organic shampoos; and a wellness center, provided by VIP Pet Care with services like annual physicals, diagnostic testing, vaccines and nail trims.

March 7, 2016

Industrial Texas

Stream Realty Partners, USAA Real Estate Co. to Develop 397,600 SF Warehouse in San Antonio MSA

by Katie Sloan March 7, 2016

NEW BRAUNFELS, TEXAS — Stream Realty Partners and USAA Real Estate Co. are set to develop I-35 Logistics Center, a 397,600-square-foot, Class A warehouse located along I-35 in New Braunfels, a suburb of San Antonio. The development, located 20 minutes from the San Antonio International Airport, will accommodate tenants from 87,000 to 397,600 square feet. The project also includes 4.2 acres of fully entitled, development-ready land available for separate purchase. The warehouse will offer 32-foot clear heights, a 280-foot building depth, 52- by 55-foot column spacing, rear-load doors, 52 trailer drops, 80 dock high loading spaces, T5 lighting, ESFR fire suppression and a circulation driveway outside of the truck court. Construction is slated to begin in March, with delivery expected in December.

March 7, 2016

Retail Texas

M&M Arranges Sale of Grocery-Anchored Shopping Center in Dallas

by Katie Sloan March 7, 2016

DALLAS — Marcus & Millichap has arranged the sale of Plaza De Oro, a 93,939-square-foot, grocery-anchored shopping center located in Dallas. Matthew Sheard and Kelsie Vogds of Marcus & Millichap represented the seller, the Dallas-based developer of the project, and Philip Levy of Marcus & Millichap represented the undisclosed buyer in the transaction. The terms of the sale were not released. El Rancho Supermercado anchors the center, located at 4490 W. Jefferson Blvd. Other tenants at the center include Chilito’s, Dollar Tree, Clinicas Mi Doctor, Pizza Patrón, Rent-A-Center, State Farm and TitleMax.

March 7, 2016

baker-katz-haden-road-houston-texas-chipotle

Restaurant Retail Texas

Baker Katz to Build 8,000 SF Retail Building in Houston

by Haisten Willis March 7, 2016

HOUSTON — Houston-based Baker Katz has begun construction on an 8,000-square-foot building that is 100 percent preleased to AT&T, Frost Bank and Chipotle. Baker Katz acquired the property in 2015 with plans to renovate it into a multi-tenant retail center. The property is located at the intersection of I-10 East and Haden Road. Construction is slated for completion this July, with tenants slated to open in fall 2016.

March 7, 2016

Healthcare Office Texas

M&M Arranges Sale of 66,090 SF Tract of Land in Houston

by Haisten Willis March 7, 2016

HOUSTON — Marcus & Millichap has arranged the sale of Houston Medical Center Land, a 66,090-square-foot tract of land located in Houston. Gus Lagos and Evan Altemus of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, an individual/personal trust. Houston Medical Center Land is located on Holly Hall Street.

March 7, 2016

Industrial Texas

Lee & Associates Negotiates 25,175 SF Industrial Lease in Metro Dallas

by Haisten Willis March 7, 2016

CARROLLTON, TEXAS — Lee & Associates has negotiated a lease transaction for a 25,175-square-foot industrial space located at 2005 McDaniel Drive in Carrollton. Adam Graham of Lee & Associates’ Dallas/Fort Worth office represented the tenant, GP Services Inc., in the transaction. Lincoln Property Co. represented the landlord, ProLogis.

March 7, 2016

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