TUCSON, ARIZ. – A 15,000-square-foot office building in Tucson has sold to Redyns Development for $4.2 million. The building is located at 2070 W. Rudasill. Redyns was represented by Russell W. Hall and Stephen D. Cohen of Cushman & Wakefield | PICOR. The seller, Fountains Medical Plaza Investors, was represented by CBRE’s David Montijo and Mike Sandahl.
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LOS ANGELES — In-N-Out Burger and Tilly’s have joined the tenant roster at the newly constructed Shoppes at Westlake Village. The 240,000-square-foot, open-air retail center is located on Russell Ranch Road in the Los Angeles submarket of Westlake Village. Other notable tenants that have recently signed onto the center include Target, Total Woman Gym + Spa, Hook Burger, Gallery Seafood and Chop House, Bowl of Heaven, All Tressed Up, Carriere, Kirk Jewelers, Olio e Limone and Jeannine’s. The center is now 80 percent leased. The landlord, Selleck Development, was represented by Stephanie Skrbin and Mike Tingus of Lee & Associates-LA North/Ventura.
PHOENIX – The Arizona Super Bowl Host Committee has leased 7,535 square feet at Renaissance Square in Downtown Phoenix. The 965,000-square-foot, Class A office complex is located along North Central Avenue. The committee was represented by CBRE’s Brad Anderson. The landlord, Hines, was represented by Jerry Noble of Cushman & Wakefield.
ROCK HILL, S.C. — An affiliate of The Assured Group has selected Trinity Capital Development to develop a 300,080-square-foot build-to-suit distribution facility in Rock Hill, about 27 miles south of Charlotte, N.C. The property will be located on a 25-acre parcel at 885 Paragon Way in Riverwalk Business Park. Other tenants at Riverwalk include Exel Logistics and Physicians Choice Laboratory Services. The Assured Group, the building’s owner, has leased the property to McKesson Medical-Surgical Inc. The project team includes architect WGM Design and general contractor InterCon Building Corp. The Assured Group will provide civil engineering services for the project. Terry Brennan of Trinity Partners represented Assured in the build-to-suit lease transaction. Stuart Ingram, Tom Evans and Adam Loges of CBRE represented McKesson.
MIAMI — A joint venture between Lincoln Property Co. Southeast and Crow Holdings Capital Partners, has purchased seven acres in Miami’s Medley submarket to develop a Class A, 136,500-square-foot industrial facility. The joint venture purchased the site, located in the Pan American North Business Park, from Abisinia Enterprises Inc. for an undisclosed price. The site features 350 feet of frontage along the Florida Turnpike. The industrial property will feature 32-foot clear ceiling heights, 120-foot truck courts, an ESFR sprinkler system and a 50-foot staging area. Americas Industrial Realty Corp. will lease the property, which is slated for a spring 2015 completion.
PORT ST. LUCIE, FLA. — Greystone has provided $32.5 million in HUD financing for Kitterman Woods, a 396-unit apartment community in Port St. Lucie. The property features two swimming pools, a fitness center, tennis court, basketball court, volleyball court and pet-friendly amenities. Reuben Dolny of Greystone originated the 35-year, fully amortizing loan on behalf of the borrower, K&J Residential Group.
TAMPA, FLA. — Marcus & Millichap has arranged the $12.4 million sale of Garden Isles Apartments, a 300-unit apartment community located at 6919 Bonair Drive in Tampa. The property, built in 1971, features gated access, laundry facilities, car wash station, playground, two swimming pools and a dog walking area. The property is located 10 minutes from the University of South Florida. Francesco Carriera and Michael Regan of Marcus & Millichap’s Tampa office represented the unnamed buyer and seller in the transaction.
RALEIGH, N.C. — JLL has brokered the $6.8 million sale of a 98,780-square-foot office building located at 3600 Wake Forest Road in Raleigh. The buyer, Local Government Federal Credit Union (LGFCU), a not-for-profit financial cooperative, will make capital improvements in order to bring the property to Class A status, according to JLL. LGFCU was considering a build-to-suit opportunity in downtown Raleigh before deciding to purchase 3600 Wake Forest. Michael Morgan of JLL represented LGFCU in the transaction. Justin Dauncey of JLL will manage the building renovations and site improvements for LGFCU.
ST. PAUL, MINN. — Dougherty Mortgage LLC has originated a $5.5 million loan for the refinancing of a 90-unit multifamily affordable housing property in St. Paul. Joseph’s Pointe at Upper Landing is located at 200 Wilkin St. The property was constructed in 2004 with 100 percent of the units restricted at 60 percent or below the area median income. Dougherty Mortgage arranged the 35-year term, 35-year amortization loan for Chestnut Housing LP.
AMES, IOWA — The Opus Group will develop a new student residential and retail complex directly adjacent to Iowa State University’s campus in Ames. The Foundry will feature 53 units and 144 bedrooms with 7,500 square feet of ground-level retail space. The six-story building will be the gateway to Iowa State University’s campus. Units will offer students living options of two- and four-bedrooms. Residents will have access to several amenities including a fitness center, study lounges, game room, private heated underground parking, common areas and on-site retail options. Construction on the project is scheduled to begin this month with completion slated for August 2015. Pre-leasing for the residential complex has begun. Opus Development Company LLC is the developer of the project and Opus Design Build LLC is the design-builder. Opus AE Group LLC is partnering with Minneapolis-based Elness Swenson Graham Architects Inc. on the design. Opus recently completed two luxury student housing options at the University of Minnesota and it has three others currently underway near university campuses in Madison, Wis., Milwaukee and Minneapolis.