OAK LAWN, ILL. — Capital One Multifamily Finance has provided a $10.9 million fixed-rate, HUD 232/223(f) loan to refinance a 133-bed skilled nursing facility in Oak Lawn. Joshua Rosen of Capital One originated the transaction for the undisclosed borrower. The property was built in 1962, with an addition in 1985 and substantial renovations and improvements between 2005 and 2012. The current owners acquired the property in 2012, and have upgraded resident rooms and bathrooms.
LORAIN, OHIO — Marcus & Millichap has brokered the $1.2 million sale of Advance Auto Parts, a 7,000-square-foot, net-leased property in Lorain. Advance Auto Parts is located at 2025 Broadway. The property was built in 2004 as a build-to-suit for Advance Auto Parts. Dustin Javitch, Scott Wiles, Craig Fuller and Erin Patton of Marcus & Millichap’s Cleveland office represented the seller, a limited liability company. The property was sold to an unnamed publically-traded REIT.
TROY, MICH. — Friedman Integrated Real Estate Solutions has arranged the lease of 9,234 square feet of office space in Troy. The International Academy of Design & Technology Detroit, a private college, will occupy space at the property within the Troy Officentre Building A located at 300 E Big Beaver Road. Glenn DesRosiers of Friedman represented the landlord, Osprey-Troy Officentre LLC.
AUSTIN AND ROUND ROCK, TEXAS — KFG Investment Co. has acquired an eight-building, 271,060-square-foot industrial portfolio in metro Austin. The company’s flex industrial portfolio in the area now includes 598,900 square feet. The acquisition includes Techni Center 6 and 7, located at 3714 Bluestein Drive in Austin, totaling 124,390 square feet; the five-building flex project known as Cameron Center, located at 8200 Cameron Road in Austin, totaling 94,770 square feet; and Amorron 6, located at 800 Paloma Drive in Round Rock, totaling 51,900 square feet. The portfolio is 96 percent leased. TA Associates and Clarion were the sellers. Tenants in the portfolio include Chip Semiconductor, Action Box Co., GTECH Corp., and Busch Semiconductor Vacuum Group.
DALLAS — Colliers International has acquired Conger and Sutherland Enterprises (CASE) Commercial Real Estate Partners. Dallas-based CASE was formed when Tom Sutherland and John Conger acquired GVA Cawley from Dallas real estate investor and developer Bill Cawley in April of 2008. Sutherland and Conger have grown the company to 50 employees, serving both tenants and investors, since the acquisition. Both firms are active in investment sales, but CASE caters more to private capital, according to Colliers’ regional manager David Pinsel. The deal takes Colliers from about 45 local brokers to about 80, with more than 180 total employees in Dallas and Fort Worth. CASE will be rebranded as Colliers International, and its Dallas team will move to Colliers’ Uptown office at 1717 McKinney Ave. in the coming months. Colliers International is a subsidiary of FirstService Corp., which generates about $2.7 billion in annual revenue and has more than 24,000 employees worldwide.
DALLAS — Ridgeline Property Group (RPG) and its capital partner Stockbridge Capital Group have purchased a 29.5-acre parcel in the South Dallas industrial submarket. The property will serve as the site of a 453,600-square-foot distribution facility. Construction on Eagle Park 20\35, named for its location at the intersection of Interstates 20 and 35, will begin in June and is scheduled to be completed in the first quarter of 2016. RPG and Stockbridge Capital Group purchased the site, which is located within the Eagle Business and Industrial Park at Centre Park Drive, from Danieldale/35E No. 2 Ltd. Kurt Griffin and Nathan Orbin of JLL represented the buyer and seller in the transaction. Eagle Park 20\35 will feature 32-foot ceiling heights, 185-foot dual truck courts and abundant trailer storage. The 400-acre Eagle Business and Industrial Park is home to tenants including Solar Turbines, Kohl’s, Sam’s Club and Kauffman Tire. The business park also offers access to air travel from Dallas Executive Airport.
LAREDO, TEXAS — Majestic Realty Co. has purchased a 2000-acre site from a subsidiary of Mercedes-Benz. Majestic plans to redevelop the site with warehouse distribution space to support commerce between Mexico and the United States. Laredo is a customs district with annual U.S-Mexico trade totaling $230 billion. Majestic executives have begun master-planning the development with the aim of putting the first phase of development into production immediately.
HURST, TEXAS — Dougherty Mortgage LLC has secured a $2.8 million Fannie Mae loan for the refinancing of Valencia Park Apartments, a 112-unit apartment property located in Hurst. The 10-year loan includes a 30-year amortization schedule and was arranged by Dougherty’s Minneapolis office for borrower DCP Skyline One LLC. Valencia Park Apartments features one-, two- and three-bedroom floor plans with air conditioning, assigned parking and dishwashers.
SAN DIEGO – Mission View Plaza, a 52,118-square-foot office building in San Diego, has sold to PWI CDRS LP for $8.1 million. The building is located at 3517 Camino Del Rio South. It was built in 1988. The LP was represented by Brian Jenkins and Mike Conger of ECP Commercial. The seller, Stephens Properties, was represented by Derek Hulse and Derek Applbaum of Colliers International.
SALT LAKE CITY – A 27,300-square-foot office building in Salt Lake City has sold to 210 FLT Realty for $4.7 million. The building is located within the Salt Lake City-Provo-Orem combined statistical area. It serves as the state headquarters for the Utah Division of Disability Determination Services (DDS). The transaction was executed by Brian Corriston and Steve Wolff of Stan Johnson Company.