Property Type

M&M Arranges Sale of 86-Unit Apartment Building in Metro Dallas

by Haisten Willis February 23, 2015

IRVING, TEXAS — Marcus & Millichap has arranged the sale of MacArthur Apartments, an 86-unit apartment property located in Irving. The property is located at 1201 W. Rochelle Road between North MacArthur Boulevard and Clearbrook Drive. Built in 1963, the asset includes 43 one-bedroom and 43 two-bedroom units with a total of eight one-story buildings. The property features a leasing office, a storage unit and a laundry facility. The property was fully occupied at the time of sale. Matt Davis of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, an individual/personal trust. Davis also procured the buyer, a private investor.

February 23, 2015

Dave & Busters Building in San Diego Sells for $11.9M

by Nellie Day February 23, 2015

SAN DIEGO – A 45,000-square-foot building in San Diego that is net leased to Dave & Busters has sold to Store Capital for $11.9 million. The building is located at 2931 Camino Del Rio N., at the intersection of the 805 and 8 freeways, near Downtown San Diego. Store Capital was represented by Patrick Luther and Matthew Mousavi of Faris Lee Investments. The seller, San Diego Food & Games LLC, was represented by Jeff Conover of the same firm in this leasehold interest sale.

February 23, 2015

Retail Texas

Cushman & Wakefield Arranges Sale of Retail Center in Metro Houston

by Haisten Willis February 23, 2015

WEBSTER, TEXAS — Cushman & Wakefield Texas Retail Advisors has arranged the sale of Baybrook Gateway, a 236,854-square-foot regional power center in Webster, a suburb of Houston. Baybrook Gateway is located at the southeast corner of Bay Area Boulevard and I-45. The property was built in 1995 and is 65 percent occupied. Tenants include Ashley Furniture, Michaels, World Market, Aaron Brothers and Barnes & Noble. Tom Salanty, Chris Harden and Kris Von Hohn of Cushman & Wakefield Texas Retail Advisors represented the unnamed seller.

February 23, 2015

California Industrial Western

Industrial Building in Compton Sells for $4.7M

by Nellie Day February 23, 2015

LOS ANGELES – A 33,730-square-foot industrial building in the Los Angeles submarket of Compton has sold to Perera Family Trust for $4.7 million. The building is located at 2250 S. Central. It was built in 1990. The building also includes 12,000 square feet of Class A office space. The trust was represented by David Denitz of Gateway Business Properties. The seller, M&H Capital Investments LLC, was represented by Craig Poropat and Garen Ramyan of Lee & Associates’ Los Angeles – Long Beach.

February 23, 2015

Retail Texas

Woodmont Co. Secures Lease for Dollar Tree in Metro Dallas

by Haisten Willis February 23, 2015

MCKINNEY, TEXAS — The Woodmont Co. has completed a seven-year, 10,709-square-foot lease with Dollar Tree within a 27,182-square-foot retail building in McKinney. The property is located at 1970 Central Expressway. Karen Mitchell and Dorinda Cavender of The Woodmont Co. completed the lease on behalf of the owner, a Texas-based limited liability company. Jim Weir of The Retail Connection represented Dollar Tree. The store will open in July and will occupy 39.4 percent of the property, bringing the asset to 80 percent leased. The property is located off Central Expressway (Highway 75) and Highway 380.

February 23, 2015

Arizona Hospitality Western

Quality Inn & Suites Tucson Airport North Sells for $2.3M

by Nellie Day February 23, 2015

TUCSON, ARIZ. – The 172-unit Quality Inn & Suites Tucson Airport North has sold to a partnership for $2.3 million. The hotel is located at 5251 South Julian Drive. The buyer was represented by Sam Hanna and Evan Taylor of Marcus & Millichap. The seller, a limited liability company, was represented by James I. Meng of the same firm.

February 23, 2015

Arizona Retail Western

Rodeo Park Plaza in Gilbert Sells for $2.8M

by Nellie Day February 23, 2015

GILBERT, ARIZ. – Rodeo Park Plaza, a 24,533-square-foot retail center in Gilbert, has sold to L.S.S. Inc. on Rodeo Park and Jabbell Holdings LLC on Val Vista Marketplace for $2.8 million. The center is located at 1659 & 1661 S. Val Vista Drive and 1663 E. Ray Road. The buyers purchased the asset through Auction.com. The sellers were WBCMT 2006-C29 Val Vista Retail LLC and JPMC 2005-CIBC13 East Elliot LLC. The LLCs are affiliates of LNR Partners. The transaction was executed by Darren Tappen and Matthew Ault of Voit Real Estate Services.

February 23, 2015

California Multifamily Western

Crown Point Apartment Building in San Diego Sells for $2M

by Nellie Day February 23, 2015

SAN DIEGO – A six-unit apartment building in the San Diego neighborhood of Crown Point has sold to Walnut Company LLC for $2 million. The community is located at 3704 Promontory Street, near Mission Bay. Walnut Company was represented by Nga Nguyen of Berkshire Hathaway Home Services. The seller, Plotts Real Estate, was represented by Terry Moore of ACI.

February 23, 2015

Illinois Midwest Office

Reed Construction Completes Office Build-Out for Raby Institute of Integrative Medicine

by Danielle Everson February 23, 2015

CHICAGO – Reed Construction has completed a two-phase, 10,500-square-foot build-out for the Raby Institute of Integrative Medicine at Northwestern. The property is located at 500 N. Michigan Ave. in Chicago. The project included the addition of open ceilings within the space as well as the build-out of the reception area, exam rooms, treatment rooms and medical imaging rooms. Reed Construction also built private offices and conference rooms. The finished space now features high-end finishes, new lighting fixtures, paint and carpeting throughout. Jack Hennessy oversaw the project on behalf of Reed Construction, and Marty McGriff was the project superintendent. Parachin Design Studios Inc. provided the architectural services. The Raby Institute for Integrative Medicine is a center for integrative healing that combines science-based Western medicine with holistic healing approaches.

February 23, 2015

Grenadier-Village-Meridian-Capital-Group

Loans Multifamily New York Northeast

Meridian Capital, Capital One Arrange $18M in Refinancing for Multifamily Property in New York

by Amy Works February 23, 2015

LIVERPOOL, N.Y. — Meridian Capital Group and Capital One have arranged an $18 million mortgage for the refinancing for Grenadier Village, a multifamily property in Liverpool. The 25-year, self-liquidating loan, which was provided by a life insurance company, features a 4.63 percent fixed-rate. Located at 100 Kings Park Dr., Grenadier Village offers 534 apartment units. Seth Grossman of Meridian Capital and Greg Reed and Kristen Croxton of Capital One arranged the financing for the undisclosed borrower.

February 23, 2015

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