Property Type

Unbridled Holdings Acquires Grant Street Mansion in Denver

by Nellie Day November 24, 2014

DENVER – Unbridled Holdings LLC has acquired Grant Street Mansion, a 20,000-square-foot, historically designated mansion in Denver, for an undisclosed sum. The mansion is located at 1115 Grant Street in the Capitol Hill neighborhood. The property was originally built in 1892. It currently contains 28 converted office suites within the four-story, 16,000-square-foot main house, and three office suites within a two-story, 4,000-square-foot carriage house. The mansion was 95 percent occupied at the time of sale. The seller was Pathfinder Partners. The transaction was executed by Tim Finholm of Unique Properties.

November 24, 2014

Arizona Retail Western

Raising Cane’s Building in Glendale Sells for $3.5M

by Nellie Day November 24, 2014

GLENDALE, ARIZ. – A 3,033-square-foot building in Glendale that is net leased to Raising Cane’s has sold to an unnamed buyer for $3.5 million. The building is located at 7930 West Bell Road. The seller, a limited liability company, was represented by Mark Ruble and Jamie Medress of Marcus & Millichap’s Phoenix office.

November 24, 2014

California Office Western

Independent Capital Management Leases Space in Newport Beach

by Nellie Day November 24, 2014

NEWPORT BEACH, CALIF. – Independent Capital Management has leased 3,975 square feet of space at an office building in Newport Beach. The 75,333-square-foot building is located at 1401 Dove. The firm is relocating from nearby Irvine. Independent Capital Management was represented by Cameran Lindee of CBRE. The landlord, Palm Springs Village-309 LLC, was represented by Oliver Fleener of PM Realty Group.

November 24, 2014

California Retail Western

Jiffy Lube Plus Building in Oceanside Sells for $2.9M

by Nellie Day November 24, 2014

OCEANSIDE, CALIF. – A free-standing building in Oceanside that is triple-net leased to Jiffy Lube Plus has sold to Cali Oceanside LLC for $2.9 million. The building is located at 4106 Oceanside Blvd. It is situated at the base of Ocean Ranch, North County’s largest business park. The buyer was represented by Randi Cali of Coldwell Banker Commercial NRT. The seller, Roberts Investment Group, was represented by CBRE’s Matt Pourcho and Melissa Foster Scofield.

November 24, 2014

Alabama Office Southeast

PointOne Holdings, ESJ Capital Buy Three Office Buildings in Birmingham for $51M

by John Nelson November 24, 2014

BIRMINGHAM, ALA. — PointOne Holdings and ESJ Capital Partners have partnered up to acquire three Class A office buildings totaling 377,921 square feet in Birmingham for $51 million. The properties, known as International Park and Blue Lake Center, have a blended occupancy of 90 percent. International Park and Blue Lake are leased to tenants such as Tyco, Prudential, Hoffman Media, Command Alkon, BE&K, Martin Marietta Materials, Principal Financial, RxBenefits, EBSCO, BASS, McKesson Corp., Home Mortgage of America and IBM. The office portfolio will be managed and leased by CBRE’s Birmingham office, which is also one of its current tenants. PointOne Holdings obtained a non-recourse, fixed-rate CMBS loan with a 10-year term from Starwood Mortgage Capital to complete the acquisition. Charles Foschini and Jason Hochman of CBRE Capital Markets arranged the acquisition loan.

November 24, 2014

Multifamily Southeast Virginia

ARA Brokers Sale of Apartment Community in Virginia Beach

by John Nelson November 24, 2014

VIRGINIA BEACH, VA. — ARA has brokered the sale of Woodshire Apartment Homes, a 288-unit apartment community in Virginia Beach. Built in 1975, the property was 95 percent occupied at the time of sale. Mike Marshall, Drew White and Wink Ewing of ARA represented the seller, Chandler Management Corp., in the transaction. The Bainbridge Cos. purchased the asset for an undisclosed price.

November 24, 2014

Office Texas

NAI Houston Arranges Office Lease in Metro Houston

by Haisten Willis November 24, 2014

DEER PARK, TEXAS — NAI Houston represented 1101 Howard LLC in the lease of a 15,300-square-foot industrial spec building on one acre in Deer Park. Standard Alloys Inc. is the tenant for the space, which is located at 1101 Howard Drive. John Ferruzzo of NAI Houston represented the landlord in the negotiations. Thomas Leger and Chase Cribbs of The National Realty Group represented the tenant.

November 24, 2014

Kentucky Restaurant Southeast

PRG Investments Brokers Sale-Leaseback of Three Restaurants in Kentucky, South Carolina

by John Nelson November 24, 2014

LOUISVILLE, KY. — Louisville-based PRG Investments has brokered the sale of three restaurants in Kentucky and South Carolina. PRG brokered the sale-leaseback of two Raising Cane restaurants in central Kentucky: 551 Keene Center Drive in Nicholasville and 2555 Nicholasville Road in Lexington. Fred Sutterlin and Reed Weinberg of PRG represented the buyer, an individual investor based in Louisville, in the transaction. David Graves of Cypress Property Group represented the seller. Sutterlin also brokered the franchise sale-leaseback of a Dunkin’ Donuts located at 754 Folly Road in Charleston, S.C. on behalf of the buyer, a private investor based in Louisville.

November 24, 2014

Georgia Office Southeast

Lincoln Property Co. Southeast Brokers $1.2M Sale of Metro Atlanta Office Building

by John Nelson November 24, 2014

NORCROSS, GA. — Lincoln Property Co. Southeast has brokered the $1.2 million sale of a 16,983-square-foot office building located at 3135 Avalon Ridge Place in Norcross, an eastern suburb of Atlanta. Denton Shamburger and Jeff Henson of Lincoln Property represented the undisclosed seller in the transaction. Paul Hanna of JLL represented the buyer, Custard Insurance Adjusters, which currently occupies 6,000 square feet at the property. Custard plans to expand its presence at the building in the near future.

November 24, 2014

Mixed-Use New York Northeast Office Retail

Ripco Brokers Sale of 12,000 SF Mixed-Use Building for $26M in Manhattan

by Amy Works November 24, 2014

NEW YORK CITY — Ripco Real Estate has brokered the sale of a mixed-use commercial building located at 2307 Broadway in Manhattan’s Upper West Side neighborhood. Waterbridge Capital purchased the property for $26 million. The property offers 12,000 square feet of combined retail and office space. A Duane Reade drugstore that previously occupied the building is now closed, which offers the buyer re-tenanting options. The sellers were a private family. Doug Kleiman and Lee Spiegelman of Ripco Real Estate arranged the transaction.

November 24, 2014

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