DALLAS — Mohr Capital has acquired the Coit Medical Center in Dallas, located at 12230 Coit Road. The 32,611-square-foot medical office building was constructed in 2009 and is 34 percent leased. Scott Henry, Gary Horn and Austin Ames represented Mohr Capital internally, while Evan Kovac with Newmark Grubb Knight Frank represented the seller, Passco Seneca Coit LLC. Frost Bank provided project financing.
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IRVING, TEXAS — PM Realty Group has brokered a 29,345-square-foot office lease for Hanley-Wood Exhibitions in the Las Colinas Highlands building. The 199,435-square-foot building, located at 6191 N. State Highway 161, is owned by MLCFC 2006-4 Office 6191 LLC. Kurt Cherry, executive vice president of PM Realty, handled the transaction for the owner. Mari Jones, senior director, Billy Gannon, associate director, and Emily Hoffman, senior associate, with Cushman & Wakefield represented the tenant.
HOUSTON — Cadence McShane Construction Co. has completed the construction of Fallbrook Distribution Center II, a 400,250-square-foot warehouse/distribution facility located at 8303 Fallbrook Drive in northwest Houston. The property, situated on a 30-acre parcel, was built on behalf of developer Liberty Property Trust. Divisible to 100,000 square feet, the cross-dock facility can support single- or multi-tenant configurations. Fallbrook Distribution Center II features 32-foot clear heights; 53.4-foot-by-50-foot column spacing; 83 exterior docks; four drive-in doors; an ESFR sprinkler system; 3,000 square feet of office space to-suit; and on-site trailer parking. Seeberger Architecture provided the architectural services.
GLENDALE, ARIZ. — Zanjero Falls, a 147,405-square-foot office property in Glendale, has sold to a joint venture for $9.1 million. The space is located at 7410 N. Zanjero Blvd. The venture includes Select Healthcare Solutions LLC, Phoenix Cyberknife, and Radiation Oncology Center LLC. The acquisition also includes about 10 acres of developable land. The Class A office development has never been occupied. It is currently configured as eight fully improved lots for future development. Zanjero features a single-story and a three-story office building, both of which are in shell condition. It was built in 2008. The JV was represented by TJ Zaharis of COBE Real Estate. The seller, RCFC Zanjero Falls, was represented by Steve Lindley, Bob Buckley, Tracy Cartledge, Eric Wichterman and Mike Coover of Cassidy Turley’s Capital Markets Group.
TEMPE, ARIZ. – An 81,200-square-foot industrial property in Tempe has sold to a local private investment company for $7.5 million. The property is located at 9235 S. McKemy Street. The space is fully occupied by MTD Southwest. Bob Buckley, Tracy Cartledge and Steve Lindley of Cassidy Turley’s Capital Markets Group represented both the buyer and the seller, McKemy Holdings, in this transaction.
COLORADO SPRINGS, COLO. – The 168-unit Hill Park apartment complex in Colorado Springs has sold to Shefflin Investments LLC for $5.9 million. The community is located at 360 N. Murray Blvd. It was 95 percent occupied at the time of closing. Hill Park was originally built in 1972. The seller, Hill Park Associates, was represented by ARA Colorado’s Kevin McKenna, Ken Greene and Saul Levy.
ESCONDIDO, CALIF. – A 9,440-square-foot retail building in the San Diego submarket of Escondido has sold to The Tabata Family Trust for $2.6 million. The building is located at 935 W. Mission Ave. The property is a single-story strip center. The trust was represented by Steve Herrington and Gregg Herrington of Real Estaters of California. The seller, R.J. Mission Plaza LLC, was represented by Don Zech and Matt Orth of CDC Commercial.
LOVELAND, COLO. – The Lids concept, Locker Room by Lids, has opened at the Promenade Shops at Centerra in Loveland. The sports apparel, headwear, accessories and novelties retailer is located between Banana Republic and Jos. A. Bank. The center is managed by Poag Lifestyle Centers, LLC.
MIAMI — Fundrise, a real estate crowdfunding platform, plans to raise capital for a 13,000-square-foot, mixed-use development in Miami’s Wynwood Arts District in conjunction with Atlas Real Estate Partners. The project, located at 2301 N. Miami Ave., is a recently renovated property that is 50 percent leased, with the remaining two leases out for signature, which will bring the building to full occupancy. On why Atlas Real Estate Partners decided to crowdfund a portion of the project’s funding, Arvind Chary, managing principal of Atlas Real Estate Partners, said, “We’re excited to allow retail investors to play a role in and benefit from the growth of Wynwood. Atlas prides itself on creating projects that spur community growth and the Fundrise model of crowdfunding investment, particularly for innovative projects, fits well with our mission.” Fundrise’s platform makes real estate investments available to both high net worth and small-scale investors.
JACKSON, MISS. — Holder Properties has begun constructing One Eastover Center, a 120,000-square-foot, Class A office building in Jackson. The property is located in the District at Eastover, a 21-acre mixed-use community. The law firm Baker Donelson will occupy the third, fourth and fifth floors of the five-story property. Holder expects to complete the project’s shell by summer 2015. The project team includes architect Nelson Partners, general contractor Roy Anderson Corp. and leasing brokerage firm Duckworth Realty.