Property Type

Bradford Allen Arranges Six Lease Deals at 520 W. Erie in Chicago

by Jonathan Mehall July 30, 2015

CHICAGO — Bradford Allen has arranged six lease transactions at 520 W. Erie St., a 45,000-square-foot brick and timber loft building in Chicago’s River North submarket. Owner Gamla Cedron Group hired Bradford Allen as the leasing agent for the property in late 2014. Since then the brokerage firm has secured 17,959 square feet of leases, bringing the building’s occupancy to 87 percent. Tenants of the River North property include SFP Commercial Real Estate, Stepbrand Enterprises, J.S. Graphics Inc. and Doors for Builders. The building features high ceilings, large windows and customizable suites and is located across from a park. Several shops, restaurants and public transportation options are nearby. Two suites, one totaling 2,968 square feet and the other 2,800 square feet, remain available. Craig Nadborne and John Skalla are the leasing agents on behalf of Bradford Allen.

July 30, 2015

California Multifamily Seniors Housing Western

JCH Arranges Sale of Assisted Living Community in California for $23.4M

by Nellie Day July 30, 2015

LOS ANGELES — JCH Consulting Group, a brokerage specializing in seniors housing, has arranged the sale of a 90-unit assisted living and memory care community in Los Angeles for $23.4 million. The name of the facility was not disclosed. The seller was an independent owner/operator based in Southern California. The buyer was a real estate investment firm that will use a third-party management company. With a sales price of $260,000 per unit, the community currently features a 6.6 percent capitalization rate and 86 percent occupancy.

July 30, 2015

California Retail Western

Crunch Franchise Opens New Gym in Rancho Cucamonga

by Nellie Day July 30, 2015

RANCHO CUCAMONGA, CALIF. — Crunch Franchise, a New York-based gym chain, has opened a new location in Rancho Cucamonga. The outlet is located in Foothill Marketplace. David Harman is the franchisee and general manager Spencer Rich operates the gym.

July 30, 2015

California Loans Retail Western

Savills Studley Arranges $16M Sale of Home Depot Location

by Nellie Day July 30, 2015

SEASIDE, CALIF. — Savills Studley’s National Retail Services Group has arranged the $16 million sale of a triple-net leased, 119,000-square-foot Home Depot located in Seaside. Kyle Miller and Bill Bauman of Savills Studley represented the seller, New York Life Real Estate Investors, in the transaction. Hovercraft LLC purchased the property at a cap rate between 3 and 4 percen. Home Depot’s lease runs through 2032.

July 30, 2015

California Retail Western

TitleMax Building in Moreno Valley Sells for $3.3M

by Nellie Day July 30, 2015

MORENO VALLEY, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the sale of a two-tenant retail building in Moreno Valley occupied by Coast Dental office and TitleMax, which sold for $3.3 million. Ed Hanley and Bill Asher of Hanley represented the seller, MV-Perris LLC. It was sold to TC Enterprise Group LLC, represented by Charles Wong of CCRE Capital Commerce Inc.

July 30, 2015

Arizona Multifamily Seniors Housing Western

Digital Marketing Agency Launches Senior Living Division

by Nellie Day July 30, 2015

SCOTTSDALE, ARIZ. — Arizona-based marketing agency Leavitt Digital has launched its Senior Living Division and hired Kim Tranmer, a 25-year industry veteran, as managing director. Leavitt Digital’s new division focuses on increasing the online presence, search engine optimization (SEO), review monitoring, and press releases distribution in the seniors housing industry. Tranmer’s career in seniors housing includes sales, marketing, consulting and management prior to joining Leavitt Digital. Her primary role will be business development and relationship management, presenting Leavitt Digital’s platform to owners, managers and consultants in the industry.

July 30, 2015

Industrial Loans Texas

CBRE Arranges $38M Financing for North Texas Industrial Portfolio

by Haisten Willis July 30, 2015

ARLINGTON, TEXAS — CBRE Capital Markets’ debt and structured finance team has arranged financing for the Pioneer 360 portfolio in Arlington. CBRE worked on behalf of LaSalle Investment Management to arrange the $38 million non-recourse loan. The nine-year, interest-only loan has a fixed rate of 3.8 percent and was secured through one of CBRE’s life company relationships. The Pioneer 360 portfolio consists of three warehouse and distribution facilities totaling 1.2 million square feet of rentable space. The buildings are 100 percent leased to 13 tenants. The Class A assets are LEED Gold-certified and have clear heights ranging from 24 to 35 feet. Pioneer 360 was completed in 2009 using tilt-up construction on a site formerly occupied by Forum 303 Mall. The portfolio is located in the Great Southwest submarket, providing access to I-30, I-20, State Highway 360, State Highway 161 and DFW International Airport. Scott Lewis, Greg Greene and Matt Ballard of CBRE’s Dallas office originated and secured the financing on behalf of the borrower.

July 30, 2015

Industrial Office Texas

New Office/Warehouse Flex Development Planned in Metro Dallas

by Haisten Willis July 30, 2015

ALLEN, TEXAS — JaRyCo Development plans to begin construction on the first of three office/flex buildings known as Tech Center One at the company’s Tech Center on Greenville project in Allen. Construction will begin in September on the 94,000-square-foot project. JaRyCo Development is based in Allen, and the 38,000-square-foot Tech Center One is the 10th development project for the company in the city. Plans call for the project to be developed in phases unless tenant demand requires otherwise. Tech Center One will be built on the south end of the master-planned campus. A landscaped setback along Greenville Avenue with screened loading areas and a parking ratio in excess of code requirements will provide a new home for a variety of companies. An interior clear height of 18 feet, loading doors and a dock-high loading area will allow for product storage. The Tech Center on Greenville is located just north of the intersection of Bethany Drive and Greenville Avenues.

July 30, 2015

Loans Multifamily Texas

LMI Capital Secures $5M Refinancing of 100-Unit Multifamily Property in Metro Houston

by Haisten Willis July 30, 2015

CLEAR LAKE CITY, TEXAS — Jamie Mullin of LMI Capital has arranged $5 million in debt for the cash-out refinance of a garden-style apartment complex in the Clear Lake submarket of Houston. Mullin worked on behalf of the borrower to obtain a seven-year, fixed-rate loan. The entire term consists of interest-only payments.

July 30, 2015

Industrial Loans Texas

MCA Funds $5M Acquisition of Industrial Property in Tyler

by Haisten Willis July 30, 2015

TYLER, TEXAS — Dallas-based Metropolitan Capital Advisors (MCA), a financial intermediary, has raised a $5 million joint venture equity investment to fund the acquisition of a vacant 536,000-square-foot industrial complex in Tyler. The complex was formerly owned and occupied by Carrier Corp., who sold the property after relocating the plant to Monterrey, Mexico. The property was acquired by a Tyler-based partnership sponsored by Buster Fitzgerald and Jerry Tate. After closing on the purchase in May, the new ownership completed a lease with Trane, a provider of HVAC and building management systems. Trane will initially occupy 100,000 square feet of the property with a takedown schedule to eventually occupy the majority of the complex. Scott Lynn and Brandon Wilhite of MCA arranged the $5 million equity investment with Dallas-based Provident Realty Advisors.

July 30, 2015

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