LAGUNA HILLS, CALIF. — Grandbridge Real Estate Capital has closed a $14 million loan for a 79,760-square-foot retail property in Laguna Hills. Funded by BB&T Real Estate, the permanent, fixed-rate, non-recourse loan features a seven-year term with a 30-year amortization schedule and a 3.67 percent interest rate. Tom Kenny, Rowin Jacobs, Josh Boehling, Steve Griffin, Thomas Turnage and Mark Durfee of Grandbridge’s Newport Beach, Calif., office secured the financing for the undisclosed borrower.
DENVER — Pathfinder Winfeild RiNo Holdings LLC has purchased a former Gold Star Sausage Factory in Denver for $4.5 million. The factory is located at the corner of 28th and Walnut streets in the River North (RiNo) District. It contains five structures for a total of 47,326 square feet. The buyer plans to repurpose the space to include common-area meeting space, a kitchen, locker room and showers and a bike barn with a bicycle repair station. Brian Bair and Trent Rice of NAI Shames Makovsky represented Pathfinder in this transaction.
SAN DIEGO — General Atomics Aeronautical Systems has signed a four-year lease for a 112,000-square-foot industrial property in the San Diego submarket of Poway. The building is located at 13550 Stowe Drive. The lease is valued at more than $4.2 million. General Atomics represented itself in the transaction. Ted Cuthbert of Colliers International and Bob Willingham, James Duncan and Mickey Morera of Kidder Mathews represented the landlord, CT Realty.
TUSTIN, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the sale of a retail building located at 14191 Newport Ave. in Tustin, a southeastern suburb of Los Angeles. The 2,900-square-foot property sold for $1.2 million, representing a capitalization rate of 4.17 percent. The two-tenant building is situated on one-third of an acre near the intersection of McFadden and Newport avenues. Eric Vu and Jeff Hauber of Hanley Investment Group represented the seller, a private investor based in Southern California. The name of the buyer was not released.
WHITE PLAINS, N.Y. — LCOR has broken ground for 55 Bank Street, a mixed-use development in White Plains. The $250 million, 760,000-square-foot transit-oriented development will offer residential and retail space. The first phase of the project will include a 16-sory, 288-unit residential building with 3,000 square feet of ground-floor retail space and 381 parking spaces. Phase II will consist of a 16-story building with 273 homes, 3,350 square feet of retail space and 189 parking spaces. Twenty percent of the 561 residential units will be workforce designated housing. The project is located adjacent to the Metro-North White Plains Railroad Station, which offers express service into Grand Central Station in New York City.
MALTA, N.Y. — UC Funds has provided a $12 million ground-up construction equity investment for a multifamily development in Malta, a suburb 20 miles north of Albany, N.Y. The investment will be used to develop a vacant parcel of land into 292-unit, Class AAA multifamily property consisting of 16 two- and three-story buildings. The property will feature high-end unit layouts, including granite countertops, crown moldings and luxurious fixtures. Additionally, the community will feature a swimming pool, spa, fitness center and juice bar. The property will be located adjacent to a planned 1,414-acre nanotechnology hub, which is home to Global Foundries, a leading microchip manufacturer that employs 3,600 local residents.
NEW YORK CITY — New York City-based Hudson Cos. has acquired a development site at 94 N. Third St. in Brooklyn’s Williamsburg neighborhood for the development of a residential and retail project. The seven-story building will feature 75 studio, one- and two-bedroom rental units and 15,000 square feet of ground-level retail space. Additionally, 20 percent of the apartments will be reserved for affordable housing for low-income households. On-site amenities will include doorman and concierge service, a gym, tenant lounge, underground parking, bike storage and tenant storage. Tenants will also have access to landscaped courtyards and roof terraces equipped with gas grills and tables for dining. Marvel Architects is serving as architect for the project, which is slated to begin construction soon. Hudson Cos. received a $6.5 million bridge loan from W Financial to acquire the site.
ENGLEWOOD, N.J. — A fund advised by CBRE Global Investors has acquired The Brownstones at Englewood South, an apartment community located at 73 Brownstone Way in Englewood, for an undisclosed price. The 350-unit property features a mix of loft, flat and townhome-style floor plans with high-end finishes, including granite countertops and stainless steel appliances. Community amenities include a clubhouse, fitness center, pool and deck and green space. The buyer has an interior and amenity upgrade plan for the property. The property, which features 12,521 square feet of ground-floor retail space, was 98 percent occupied at the time of sale. Jose Cruz, Kevin O’Hearn, Michael Oliver and Andrew Scandalios of HFF represented the undisclosed seller in the transaction.
NEW YORK CITY — Cushman & Wakefield has arranged the sale of two development sites, located at 181 Troutman St. and 303 Stockholm St. in Brooklyn’s Bushwick neighborhood. The sites sold for $2.6 million, or $236 per buildable square foot, in an all-cash transaction. The residential development sites, which were delivered vacant, combine to offer approximately 11,000 buildable square feet. The site at 181 Troutman St. is currently improved by a two-story, 2,025-square-foot two-unit building; and 303 Stockholm St. is a vacant lot. Michael Amirkhanian of Cushman & Wakefield handled the transaction. The names of the seller and buyer were not released.
SAN ANTONIO — Marcus & Millichap has arranged the sale of the 122-room Holiday Inn San Antonio Northwest. Allan Miller and Chris Gomes of the firm’s Dallas office represented the seller. Marcus & Millichap’s National Retail Group procured the buyer. Both buyer and seller are Texas-based private investment groups. The hotel is located at 5535 University Heights near I-10 and Loop 1604, two miles from the University of Texas at San Antonio and three miles from Six Flags Fiesta Texas. Constructed in 2012, the Holiday Inn San Antonio Northwest is a four-story interior-corridor, full-service hotel.
