ROSEVILLE, CALIF. – PCCP LLC has acquired Stoneview Plaza, a 108,354-square-foot office building in Roseville, for an undisclosed sum. The building is located at 3001 Lava Ridge Court. It is currently 72.5 percent occupied. The property will be managed by Basin Street Properties, while leasing efforts will be handled by Newmark Cornish and Carey.
WEST CHICAGO, ILL. — Marcus & Millichap has brokered the $750,000 sale of Sandpiper Square, a 9,500-square-foot retail property located in West Chicago. Sandpiper Square is located at 142-162 S. Neltnor Blvd. Adrian Mendoza, Austin Weisenbeck and Sean Sharko of Marcus & Millichap’s Chicago Oak Brook office represented the seller, a limited liability company. Kyle Stengle, Jacob Korman and Joseph Bergman of Marcus & Millichap’s Chicago Downtown office represented the buyer, a partnership.
HENDERSONVILLE, TENN. — Carolina Holdings Inc. has partnered with Atlanta-based Branch Properties LLC to develop Merchant Pointe at Indian Lake, a new 140,000-square-foot retail center located in Hendersonville, part of the Nashville metro area. The asset is located on 18 acres at Indian Lake Boulevard and North Anderson Lane. The property will have four anchor tenants, including The Fresh Market, Off Broadway, an unnamed fashion department store and an unnamed fourth anchor. According to Carolina Holdings, the four anchors are new to the market. The project team includes architect H. Michael Hindman Architects, civil engineer Ragan-Smith Associates and general contractor Harper Corp. BB&T is providing construction financing.
COLUMBIA, S.C. — Arnold Cos. has redevelopment plans for 700 and 800 Gervais St. in Columbia. The retail and entertainment complex is currently home to Tsunami, Rocket Man Piano Bar, Wet Willies and Jillian’s. Arnold Cos. plans to rebrand the complex as West End Alley and connect the complex with a new alleyway, as well as upgrade the façade, upgrade the lighting and add covered outdoor seating in the new alleyway. Arnold Cos. will also bring two new tenants to the complex: Atlanta-based Mexican chain Tin Lizzy’s and City Bar and Fondue. The two restaurants are slated to open in mid-2015. Once a Train Depot building and warehouse, the complex spans 94,000 square feet and features a 478-space parking lot wrapping around the perimeter of the complex. Arnold Cos.’s redevelopment of 700 and 800 Gervais St. will begin in the second quarter of this year.
LIVONIA, MICH. – MedPost Urgent Care will open its third Michigan location in July. The company will occupy a 7,500-square-foot space within the Livonia Crossroads Shopping Center located at the southeast corner of Middlebelt and Plymouth Roads. Tjader Gerdom and Larry Siedell of Gerdom Realty represented the landlord. MedPost operates two other Michigan locations in Southfield and Bloomfield.
WASHINGTON, D.C. — The Greysteel Co. has arranged $21.5 million to refinance a three-property, 193-unit multifamily portfolio located in Washington, D.C.’s Capitol Hill East neighborhood. Mark Bittenbender, Matthew Schwartz, Ari Firoozabadi and Paul Pierre of Greysteel arranged the loan through a conduit lender on behalf of the borrower, Capitol East Partners.
WASHINGTON, D.C. — Brookfield Property Partners LP has signed law firm Bracewell & Giuliani LLP to a 50,000-square-foot lease at 2001 M St. N.W., an office building currently under construction in Washington, D.C. The trophy office asset is slated to be delivered in spring 2016 and will feature a two-story lobby, rooftop terrace and a fitness center. The law firm is 2001 M. St.’s first major tenant, according to Brookfield. Tim Relyea, Malcolm Marshall and Sherry Cushman of Cushman & Wakefield represented the law firm in the lease transaction. David Bevirt, Cy Kouhestani and Melanie Stehmer-Townsend were Brookfield’s internal representatives in the lease deal.
KANSAS CITY, MO. — Block & Co. Inc. Realtors has arranged a lease for Roth Living in Kansas City. The company will occupy space located at 601 W. 47th St. on the northeast corner of 47th Street and Pennsylvania Avenue. Roth Living is the regional showroom for Sub Zero and Wolf appliances. The 5,750 square-foot showroom will feature appliances installed in kitchen vignettes and a culinary studio. David Block of Block & Co. negotiated the lease transaction. Block & Co. Construction Management was responsible for overseeing the conversion of the space for Roth Living. Roth Living, Genesis Construction and Arch 11 conducted the build-out and tenant finish of the new retail showroom.
HOUSTON — HFF has secured refinancing for One City Centre, a 608,660-square-foot office tower in downtown Houston. The Class A, 32-story property includes two parking garages. HFF worked on behalf of the borrower, Accesso Partners, to secure the 10-year, fixed-rate loan through J.P Morgan Chase Bank. Loan proceeds were used to retire existing debt that was used to purchase the property in 2012. One City Centre is located at 1021 Main St. The property has direct access to the Metro Light Rail line and tunnel system in downtown Houston. Originally built in 1961, the property was most recently renovated in 2010 and is LEED EB Gold certified. Tenants at the tower, which is 86 percent leased, include Waste Management and Energy XXI. One City Centre also includes the 758-space One City Centre Garage and the 611-space Fannin Garage. Susan Hill and Michael Johnson led the HFF debt placement team representing the borrower. Accesso Partners is a commercial real estate investment manager, owner and operator.
IRVING, TEXAS — Marcus & Millichap has arranged the sale of Woodwind Condominiums, a 52-unit apartment property located in Irving. Al Silva of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, an out-of-state partnership. Silva also secured the buyer, a local private investor. The sale also included an adjacent parcel of land totaling 3.7 acres, which is already zoned for new multifamily development. The new owner plans to make improvements to the existing units to make the property more competitive with others in the area. Woodwind Condominiums is located at 3947 Pleasant Run Road and was constructed in 1983. The property is located near George Bush Parkway and Walnut Hill Lane just 10 minutes from D/FW International Airport.
