WEST HOLLYWOOD, CALIF. – Celebrity chef and restaurateur Wolfgang Puck is relocating his corporate headquarters to the Pacific Design Center (PDC) in West Hollywood. The headquarters will be located in the center’s Blue Buildingat 8687 Melrose Ave. Once the move is complete, Puck’s entire operations at PDC will include the corporate offices of Wolfgang Puck Worldwide, a test kitchen, and a filming kitchen and studio. This is in addition to Puck’s already existing catering operation and Red Seven Restaurant inside the Green Building. The corporate headquarters will be relocating from nearby Beverly Hills. The Blue Building was originally built in 1975. It was the first of the three buildings to be constructed at the 1.2-million-square-foot PDC, which is owned by Charles S. Cohen.
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BURBANK, CALIF. — Tourmaline Capital has acquired Plaza Del Sol, a 166,216-square-foot retail center in Burbank, for $26 million. The plaza is located at 10950 Sherman Way. Plaza Del Sol is situated near the 170, 5 and 134 freeways. It is adjacent to Bob Hope Airport. The plaza is fully occupied by tenants like Vallarta Supermarkets, Powerhouse Gym, Oakwood Corporate Housing and Freshology. Tourmaline was represented by Geoff Tranchina and Jason Gribin of Wilson Commercial Real Estate. The seller, HRB Plaza Del Sol LLC, was also represented by Tranchina and Gribin, in addition to Deborah Collins of the Collins Company. HRB is an entity of Barco Real Estate Management.
AURORA, COLO. – A private local investment group has purchased the 283-unit Vista Park Apartments in Aurora for $17.2 million. The community is located at 12707 E. Mississippi Ave. Vista Park is situated near Lowry Air Force Base, Fitzsimons Medical Center and Stapleton. It is also near the future home of RTD FasTracks I-225 light-rail line, which will provide access to much of the metro area via Mississippi Avenue and I-225. The community underwent a $3-million renovation between 2011 and 2012. The unnamed seller was represented by Unique Apartment Group of Unique Properties.
LUBBOCK, TEXAS — A 103-room, four-story Courtyard by Marriott has opened in Lubbock, home of Texas Tech University. The 76,118-square-foot hotel is located at Marsha Sharp Freeway and Avenue V, near the Texas Tech Campus. Dallas-based Mayse & Associates Inc. was the project’s architect. The hotel’s main tower is painted “Raider Red,” the same color worn by the school’s Red Raider athletic teams. Lubbock-based Greenstreet Inc. built the hotel, which is owned and managed by Midland-based Insignia Hospitality Group.
THE WOODLANDS, TEXAS — Marcus & Millichap has arranged the sale of 242 Crossing, a 41,721-square-foot retail center in The Woodlands. Terms of the sale were not released but the asking price for the property was higher than $11.5 million. Nate Newman with Marcus & Millichap’s Woodlands office represented the seller, a local developer. The center is located at 8000 Highway 242.
SUGAR LAND, TEXAS — HFF has arranged acquisition financing for the Hyatt Place Houston/Sugar Land, a 214-room hotel in Sugar Land, just south of Houston Proper. HFF worked on behalf of the borrower, Noble Investment Group, placing a five-year, floating-rate loan with Texas Capital Bank. The hotel is located on 3.7 acres at 16730 Creek Bend Drive at the intersection of Highway 6 and U.S. 59. The hotel opened in 2010 with 6,000 square feet of meeting space, a pool, gym and business center. John Bourret and Colby Mueck led HFF’s team representing Noble.
VICTORIA, TEXAS — Houston-based Ascension Commercial Real Estate has begun construction of a 240-unit, Class A apartment complex in Victoria. The AcreRidge Victoria Apartments will be located at the intersection of Zac Lentz Parkway and Mallette Street near the Victoria Mall and Victoria Country Club. The complex will offer one-, two- and three-bedroom floor plans ranging from 628 to 1,273 square feet. Amenities will include a pool with outdoor grills, business center and conference room. Occupancy at the new apartments will be available in early 2015. San Antonio-based Galaxy Builders is the general contractor. Houston-based Mucasey & Associates is the architect for the project.
HOUSTON — D’Agostino Cos. has broken ground on The Offices at Sam Houston, a four-story office building in Houston. The offices will be located at 10203 Sam Houston Park Drive inside the Sam Houston Crossing Business Park. The project is schedule to be completed in June 2015 and is 60 percent pre-leased to Caterpillar Inc. and Solar Turbines Inc. The remaining 46,000 square feet is available for lease. The Class A, 113,363-square-foot office building will feature tilt-wall construction and a single-level parking structure with covered access to the building. D’Agostino will seek LEED Silver certification for the building. Steve Rocher, Kristen Rabel and Parker Duffie with CBRE’s Houston office are marketing the property on behalf of the landlord. Metzger Construction Co. is the general contractor and Browne McGregor Architects is the architect.
RALEIGH, N.C. — The Dilweg Cos. has acquired a 12-building, 773,000-square-foot portfolio of office and flex properties in Raleigh for $89.5 million. The properties include Park Forty Plaza, RDU Center II and III, NorthPark I and II, five north Raleigh flex properties known as One North Commerce Center and two flex properties in Cary known as MacGregor Place. The acquisition brings Dilweg’s Southeast portfolio to 4.7 million square feet. Ryan Clutter, formerly of CBRE, led the transaction on behalf of the seller along with Ben Kilgore and Patrick Gildea of CBRE.
RICHMOND, VA. — Cushman & Wakefield | Thalhimer has brokered the $40.7 million sale of 11 office buildings in Richmond’s Innsbrook submarket. The 359,000-square-foot portfolio was sold in two separate transactions to two buyers. Westdale Real Estate Investment and Management purchased West Shore I, II and III, as well as Grove Park I in the Concourse at Wyndham development located off of Nuckols Road. Lingerfelt Cos. purchased the remaining assets in Innsbrook Corporate Center, including Vantage Pointe, Vantage Place A-D and Technology Park I and II. Eric Robinson of Cushman & Wakefield | Thalhimer’s Richmond office represented the unnamed seller in both transactions.