LAYTON, UTAH — DataMaster has acquired Fairfield Crossing Building, a 16,000-square-foot office building in Layton, for an undisclosed sum. The space was formerly a retail asset, but the real estate appraisal software company will house its sales and tech services at the property. It is situated just north of Salt Lake City. Chris Falk of Newmark Grubb ACRES represented DataMaster. Adam Hawkes of Mountain West Retail and Investment represented the undisclosed seller.
PLANO, TEXAS — Palladium USA International has purchased 2.1 acres in Plano’s Legacy West development to build a 30-story high-rise. The apartment tower will feature 312 rental homes and will be located at the southwest corner of the future Columbus Avenue and Windrose Avenue. Palladium USA worked with the Legacy West master developer, Fehmi Karahan, in the architectural design of the building. The development will be the tallest building in Collin County and will include an eight-level parking garage under the residential tower containing 500 parking spaces. The gross building area will exceed 410,000 square feet, with an average unit size of 1,070 square feet. The tower will be a glass curtain wall system in an oval design. Humphreys & Partners Urban Architecture is the architect for the development. A 9,000-square-foot leasing/lobby center on the ground floor will contain a bike storage room with maintenance and wash area to accommodate 60 bicycles. Other amenities include seven car-charging stations, a pet washing and grooming room, conference room and business lounge and a separate lounge with catering kitchen and outdoor patio. On the ninth floor there will be a pool, 2,300-square-foot gym, 3,800-square-foot spa and a 3,800-square-foot bar/lounge. The 27th floor will …
FORT WORTH, TEXAS — Marcus & Millichap has arranged the sale of Complete Emergency Care, a 10,453-square-foot net-leased medical property located in Fort Worth. Philip Levy and Chris Gainey of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a private investor. Levy and Gainey also secured the buyer, a limited liability company. Complete Emergency Care is located at 6006 Camp Bowie Blvd. The triple-net lease has a corporate guarantee. Four years remain on the primary term with annual CPI adjustments, and the tenant has one, 10-year option for renewal. The building was constructed in 1990 and sits on 0.8 acres.
NAPA, CALIF. — A limited liability company has acquired the 30-unit Lincoln Gardens Apartments in Napa for $9 million. The community is located at 1802 F St. It was built in 2004. Brad Pennington and John Garrett of Marcus & Millichap’s San Francisco office represented both the buyer and seller, another LLC.
SAN MARCOS, TEXAS — Alex. Brown Realty Inc. (ABR) and Asset Campus Housing have acquired a student housing project near the main campus of Texas State University in San Marcos. ABR Chesapeake Fund IV, a value-add real estate fund sponsored by ABR, invested $4.6 million in the joint venture. The acquisition was financed with a first mortgage loan from Amegy Bank. Currently known as University Springs, the 488-bed student housing property will be rebranded as The Reserve at West Avenue and will undergo capital improvements focused on interior and exterior upgrades. At closing, the property was 98 percent pre-leased for the 2015-2016 academic school year. Texas State University has seen enrollment growth for the past 16 consecutive academic school years. Built in 1998, the property’s 152 units range from two-, three- and four-bedroom units. Asset will serve as property manager of the asset.
LOS ANGELES — Dedeaux Properties has purchased an eight-property industrial portfolio totaling 121,162 square feet in the Los Angeles submarket of Santa Fe Springs for an undisclosed price. The properties are located near the Milroy Place cul-de-sac. CBRE’s Tom Dorman and Steve Young represented the seller, Adaya Family Trust.
MARANA, ARIZ. — Marcus & Millichap has arranged the $5.4 million sale of a 14,820-square-foot net-leased Walgreens property located in Marana. Jamie Medress and Mark Ruble of Marcus & Millichap worked on behalf of the seller, a developer, and Ryan Shook and Evan Barry of Marcus & Millichap worked on behalf of the buyer, a limited liability company, in the transaction.
LAKEWOOD, COLO. — A 24-unit apartment community in Lakewood has sold to an unnamed buyer for $2.1 million. The community is located at 10623-10709 W. 8th Ave. It was built in 1961. Robert Lawson of Pinnacle Real Estate Advisors represented the buyer, while Josh Newell of the same firm represented the seller.
HOUSTON — NAI Partners has represented IEK Holdings in leasing a freestanding 20,700-square-foot industrial warehouse/distribution building located at 7310 W. Road in Houston. Michael Keegan of NAI Partners represented the landlord, IEK Holdings, during the negotiations, while Gary Horn with Mohr Partners represented the tenant.
LONG BEACH, CALIF. — Molina Healthcare has leased 73,486 square feet of office space at One World Trade Center in Downtown Long Beach. The facility will serve as an expansion for the company’s corporate headquarters, which is located across the street. Damion McKinney and Jamie Keller of McKinney Advisory Group represented Molina in the lease. JLL’s Steve Solomon, Jason Fine and Kristen Bowman, along with CBRE’s Dave Smith represented the landlords, Greenlaw Partners, Walton St. Capital and Stillwater Investment Group.