SAN FRANCISCO – A 1,800-square-foot retail building in San Francisco has sold to JSRE Acquisitions for $4.3 million. The building is located at 69 Maiden Lane. It is the smallest building in the city’s Union Square District. The space is occupied by Bistro 69 Café. It will be vacant this fall. JSRE was represented by Tim Maas, Tony Crossley and Frank Wheeler of Colliers International.
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PALM DESERT, CALIF. – Flooring Innovationshas leased a 15,800-square-foot retail building in Palm Desert. The space is located on Highway 111 at Deep Canyon. The lease was valued at $2.7 million. Kathleen Howard of NAI Capital’s Palm Desert office represented both the tenant and the landlord, CVS Drugs, in this transaction.
PLANO, TEXAS – Hilton Worldwide has opened the Hilton Dallas/Plano Granite Park hotel, a 299-unit Hilton Hotels & Resorts property, in the Granite Park master-planned community just north of Dallas. Granite Park is a 90-acre mixed-use development located at the intersection of the Sam Rayburn Tollway and Dallas North Tollway. Companies with a presence in the area include Hewlett Packard, Dr. Pepper/Snapple Group, PepsiCo, Siemens and J.C. Penny. BOKA Powell was the architect for the hotel. Amenities at the hotel include the on-site Carso Mediterranean Grill, a fitness center and pool. The hotel also attaches to a 30,000-square-foot conference center.
MCKINNEY, TEXAS – London-based Barclays Bank has selected McKinney for the site of a new technology center. Barclays is a Global Fortune 500 company offering services including personal banking, credit cards and investments. The company will move into the McKinney Corporate Center 1 building at Craig Ranch. Barclays Technology Center will occupy more than 40,000 square feet of Class A office space at 6800 Weiskopf Ave. Barclays has been working on the deal since last December and expects to move into the space later this fall.
CYPRESS, TEXAS – A San Antonio-based self-storage developer has purchased 3.29 acres on Spring Cypress Road in Cypress with plans to build a three-story, 110,000-square-foot self-storage facility late this year. Brian Cisarik, Robert Loeb and Jeff Bailey with SurePoint Self Storage worked to arrange the sale. The group already has five facilities in San Antonio. Houston-based developer Bobby Grover is partnering with Cisarik, Loeb and Bailey.
ARLINGTON, TEXAS – Marcus & Millichap has arranged the sale of O’Reilly Auto Retail Strip, a 19,840-square-foot retail property in Arlington. Jason Vitorino with Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a limited liability company. An outside Texas broker represented the buyer, a 1031 exchange investor from the West Coast. The center was 93 percent occupied at the time of sale. O’Reilly Auto Retail Strip is located at 629 West Pioneer Pkwy. in Arlington, just off Matlock Road.
ATLANTA — Lowe Enterprises Investors (LEI) has formed a joint venture with TriBridge Residential to own and operate City View Apartments, a 202-unit mid-rise apartment building in Atlanta. The multifamily community, built in 2003, is located at 433 Highland Ave. N.E. in Atlanta’s Old Fourth Ward neighborhood near the Beltline. LEI and TriBridge will implement new upgrades to the community, including granite countertops, new appliances and washer and dryer units in each apartment. The property features a 10,000-square-foot CVS/pharmacy on the ground floor and a newly renovated swimming pool and fitness center. Derrick Bloom of JLL represented TriBridge Residential, along with TriBridge’s Andy Green and Steve Broome. John Gaghan and Andy Sands led LEI’s acquisition team.
MEDLEY, FLA. — Gramercy Property Trust Inc., a publicly traded REIT, has purchased three auto salvage properties in Medley, part of the Miami MSA, for $17.3 million. The properties, totaling approximately 30 acres, are fully leased through July 2022 to a subsidiary of a large publicly traded global provider of replacement auto and truck parts.
GADSDEN, ALA. — Jason Stinson of Commercial Realty Services of Alabama LLC has brokered the purchase of two retail buildings once occupied by Food World in Gadsden for an undisclosed price. The two assets are approximately 45,000 square feet each and are located in Eastside Plaza Shopping Center and Canterberry Station Shopping Center. Anniston, Ala.-based GB & MH Properties LLC purchased the Eastside Plaza asset, and Birmingham-based Beltline Canterberry LLC purchased the Canterberry Station asset. Beltline Canterberry is the majority owner of the remainder of Canterberry Station Shopping Center.
HILLSIDE, N.J. — Bussel Realty Corp. has arranged the lease of a 54,720-square-foot industrial building in Hillside. The property is located at 470 Mundet Place. Some of the building features include 5,295 square feet of office space and nine loading doors. The property is located near I-78 with access to the New Jersey Turnpike. The tenant, Superior Plus Inc., will utilize the space for warehouse and distribution purposes. David Posner of Bussel Realty represented the owner Nathan Barry Co.