Property Type

El Dorado Tech Center in Gilbert Sells for $18.6M

by Nellie Day June 23, 2015

GILBERT, ARIZ. – El Dorado Tech Center, a 180,480-square-foot flex/back-office facility in Gilbert, has sold to a joint venture formed by Everest Holdings and Walton Street Capital for $18.6 million. The facility is located at 2299 W. Obispo Ave. It was built in 1998. GoDaddy has occupied about 118,000 square feet at the facility since 2005. The joint venture is called W-EH El Dorado Holdings JV VII LLC. DTZ’s Mike Haenel, Andy Markham, Will Strong, Paul Boyle, Rick Danis, Marc Tuite and Phil Haenel represented both the buyer and seller in this transaction.

June 23, 2015

Restaurant Retail Texas

Greysteel Arranges Sale-Leaseback of Schlotzsky’s Restaurant in West Texas

by Haisten Willis June 23, 2015

SWEETWATER, TEXAS — The Greysteel Co.’s Net Leased investment sales team represented the seller, SL60 Holcomb LLC, in the sale-leaseback transaction of a Schlotzsky’s- and Cinnabon-branded restaurant property in Sweetwater. At closing, the seller entered into a new 20-year triple net lease with renewal options. The property is located at an off-ramp of I-20 between Midland and Abilene and also benefits from pass-through traffic from Lubbock and Austin. Greysteel also procured the buyer, Microproperties Acquisitions Co., a privately-held REIT with a particular focus on investing in restaurant properties, as well as sale-leaseback transactions.

June 23, 2015

California Multifamily Western

Vista Modern Apartment Complex in Sherman Oaks Sells for $16.5M

by Nellie Day June 23, 2015

LOS ANGELES – The 34-unit Vista Modern apartment complex in the Los Angeles submarket of Sherman Oaks has sold to a Japanese construction company for $16.5 million. The community is located at 4632-4646 Vista Del Monte Ave. It was built in 2014. Jeff Louks and Janette Monfared of Marcus & Millichap’s Encino office represented both the buyer and seller in this transaction.

June 23, 2015

California Retail Western

Mission Ridge Shopping Center in Manteca Changes Hands

by Nellie Day June 23, 2015

MANTECA, CALIF. – Mission Ridge, a 96,393-square-foot shopping center in Manteca, has sold to Argonaut Investments for an undisclosed sum. The center is located off Highway 120. It is anchored by Safeway and shadow-anchored by Burlington Coat Factory and Walmart. John DuBois, Mark Denholm and Jon Gianulias of Core Commercial represented both the buyer and seller in this transaction.

June 23, 2015

Office Washington Western

Community Health Plan of Washington Leases Space in Downtown Seattle

by Nellie Day June 23, 2015

SEATTLE – Community Health Plan of Washington has leased 91,816 square feet of office space in Downtown Seattle. The space is located at 1111 Third Ave. The local not-for-profit health plan will be relocating from its current space in late 2016. The company was represented by Larry Almeleh and Pat Pendergast of Washington Partners. The landlord, Ivanhoe Cambridge and Callahan Capital Properties, was represented by Lisa Stewart and Jim Allison of Urbis Partners.

June 23, 2015

Loans Office Texas

NCB Provides $4.8M Construction Loan for Church Property in Metro San Antonio

by Haisten Willis June 23, 2015

BOERNE, TEXAS — National Cooperative Bank (NCB) has provided a $4.8 million construction loan to the Congregation of Benedictine Sisters of Boerne, located 30 miles northwest of San Antonio. The financing will be used for the construction of a new monastery and administrative offices. In February 2012, the congregation informally subdivided its 42-acre property and listed 14 acres for sale. The new monastery facilities will be built closer to the existing Boerne ministries and will provide prayer, meeting and work spaces, as well as community and private living spaces. The Benedictine Sisters are monastic women committed to community and a life of work and prayer. The Congregation of Benedictine Sisters is a 501(c) (3) nonprofit corporation.

June 23, 2015

California Office Western

Rooflifters Completes 30,000 SF Roof Raising in California

by Nellie Day June 23, 2015

FREMONT, CALIF. – Rooflifters USA has just completed a 30,000-square-foot roof raising on a building near San Jose. The building, newly owned and occupied by ProExhibits, will be the location of its new main office and manufacturing operation. Originally constructed with a 16-square-foot clear height, the roof was raised fully intact to a 27-square-foot clear. The renovation process added more than 300,000 usable cubic feet to the structure. Toeniskoetter Construction served as the general contractor.

June 23, 2015

Multifamily New York Northeast

HFF Brokers $14.2M Brooklyn Multifamily Sale

by Jaime Lackey June 23, 2015

NEW YORK CITY — HFF has brokered the $14.2 million sale of 2217 Caton Avenue, a 24,214-square-foot mixed-use building in Brooklyn’s Prospect-Lefferts Gardens neighborhood. Caton Acquisition Partners LLC purchased the asset free and clear of existing debt from Second City Real Estate. 2217 Caton Avenue is located at the intersection of Caton and Bedford Avenues, near the Church Avenue subway station. Built as condominiums in 2010, the nine-story property has 29 two-bedroom residential rental units that are 97 percent leased and 2,698 square feet of ground-floor retail space, which is fully occupied by a local daycare center. Rob Rizzi, Jeff Julien, Rob Hinckley and Steven Rutman of HFF marketed the asset on behalf of the seller.

June 23, 2015

Loans New York Northeast Retail

EagleBridge Capital Arranges $7.5M Loan for Four-Building Portfolio

by Amy Works June 23, 2015

NORWOOD, MASS. — EagleBridge Capital has arranged $7.5 million in permanent mortgage financing for four buildings located on Vanderbilt Avenue in Norwood. Ted Sidel and Brian Sheehan of EagleBridge arranged the loan, which was provided by a leading financing institution. Totaling 149,550 square feet, the four properties include 36-76, 45, 190-196 and 375 Vanderbilt Ave., including the Vanderbilt Club and three flex buildings. Tenants at the properties include Office Gallery International, Subway, Orange Leaf Frozen Yogurt, Comcast, International Auto Parts, Exide Technologies, Home Theater Concepts and the Neponsit Valley Chamber of Commerce.

June 23, 2015

Industrial New York Northeast

Kalmon Dolgin Affliliates Brokers $6.2M Sale of 60,000 SF Industrial Property

by Amy Works June 23, 2015

NEW YORK CITY — Kalmon Dolgin Affiliates (KDA) has brokered the sale of an industrial property, located at 507 Osborn St. in Brooklyn. The 60,000-square-foot property sold for $6.2 million. The property features high ceilings and open space. Neil Dolgin of KDA, along with Christopher Halliburton of Halstead Property LLC, represented the seller, Tuck It Away Osborn LLC. Halliburton also represented the buyer, Knight Collision Experts Inc. in the transaction.

June 23, 2015

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