IRVING, TEXAS — Bright Realty has brokered the sale of a 19,038-square-foot flex property in Irving. Located on a 1.5-acre lot at 1915 Westridge Drive, the property includes both office and showroom space. Shawn Hall of Bright Realty represented the buyer, Ibrahim Investments, in the transaction. David Cook of Sperry Van Ness represented the unnamed seller.
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ARLINGTON, TEXAS — Bradford Commercial has arranged an industrial lease renewal and expansion totaling 34,132 square feet in Arlington. Pronto Delivery, a third-party distribution and logistics company, renewed its lease of 23,744 square feet at the warehouse located at 1034 Ave. M and also expanded by 10,388 square feet within the facility. The property, totaling 69,748 square feet in the Great Southwest Industrial District, is now fully occupied. Brendan Smith led the Bradford Commercial team representing the tenant in the negotiations. The landlord, Proterra Properties Inc., was represented internally by Chris Bly and Dan Lawson.
LONG BEACH, CALIF. – A creative flex/office building in Long Beach that formerly housed a division of Charter Communications has sold to Lotus Real Estate Partners for $6.1 million. The building is located at 4031 Via Oro. It was built in 1985 and will undergo a complete renovation. The property features 73,000 square feet of office space and 10,000 square feet of warehouse space. Lotus was represented by Clyde Stauff of Colliers. Charter Communications was represented by DTZ’s Scott Becket.
LOS ANGELES — Sender One Climbing has signed a 16-year lease for a 30,000-square-foot industrial building in Los Angeles. The lease is valued at $5.3 million. The building is located at 11220 Hindry Ave. The indoor rock climbing wall provider will use this space for its second Southern California location. The first opened in Santa Ana last June. Sender One was represented by Greg Pieratt of Lee & Associates.
YORBA LINDA, CALIF. — Moreno Insurance has acquired a 22,500-square-foot office building in Yorba Linda for $3.7 million. The building is located at 22860 Savi Ranch Road near Old Canal Street. It underwent a complete renovation in 2009. Moreno was represented by Gary McArdell of Lee & Associates. The seller, CAPA Property Management, was represented by Chuck Wilson and Brian Chastain of Colliers.
NORWALK, CALIF. – A 34,500-square-foot industrial building in Norwalk has sold to Foam Express Inc. for $2.7 million. The building is located at 14016 Gracebee Street. It most recently housed a hockey equipment distribution firm. The foam molding manufacturer was represented by Jason Vargas of Daum Commercial. The seller, the Madjzoub Family Trust, was represented by Chuck Wilson of Colliers.
CASTROVILLE, CALIF. – The 22-unit Tembladera Apartments in Castroville has sold to WaveCrest Capital Management LLC for $2.4 million. The community is located at 10326 – 10526 Tembladera Street, just north of Monterey. It was built in 1990. This is the first asset WaveCrest has acquired for its own portfolio. The company intends to acquire $10 million of multifamily assets this year. WaveCrest was represented by Hap Albers of Albers Real Estate. This acquisition was carried out in partnership with a Southern California-based family office investor. The seller, a local Bay Area lender, had foreclosed on the property earlier this year.
KEY WEST, FLA. — Hersha Hospitality Trust has purchased Parrot Key Resort, a 148-room resort in Key West, for $100 million. The resort features a restaurant and tiki bar, four private swimming pools, a fitness center and waterfront sun-bathing terraces, as well as water sport rentals such as kayaks, paddle boards and jet skis. Gregory Rumpel and Carolina Lacerda led the JLL team in representing the seller, Northwood Investors LLC.
ATHENS, GA. — Juneau Construction Co. has commenced construction on a seven-story, 375,000-square-foot mixed-use project in downtown Athens, blocks from the University of Georgia. The $35.5 million Broad Street project will feature 252 residential units, retail space and a parking structure. The residential portion will feature one-, two-, three- and four-bedroom apartments, as well as a rooftop terrace, patio and pool. The project team includes developers GEM Realty Capital and Education Realty Trust, as well architect BKV Group. The Broad Street project will open in August 2015.
METAIRIE, LA. — KeyBank Real Estate Capital secured a $25 million loan for Westgate Plaza, a 207,866-square-foot shopping center in Metairie, about seven miles west of New Orleans. Academy Sports + Outdoors anchors the center, and HH Gregg and Michaels are the center’s junior anchors. Randy Martin of KeyBank originated the loan.