Property Type

Beacon Partners Buys Industrial Park in Charlotte’s Northwest Submarket

by John Nelson November 10, 2014

CHARLOTTE, N.C. — Beacon Partners has purchased four fully leased industrial building in Charlotte’s Northwest submarket totaling 386,000 square feet. Beacon Partners has re-branded the park “NorthWest Industrial Park” and has planned capital improvements to the property, including enhancements to the building entrances, truck loading areas, building exteriors, signage, landscaping, parking lots and lighting. The industrial park is rail-served and features outside storage, trailer storage and 22- to 28-foot clear heights with dock-high and drive-in loading. Pete Pittroff and Brad Cherry of JLL represented the seller, Carlson Real Estate, in the transaction. Wells Fargo provided acquisition financing. Pete Kidwell of Beacon Partners will handle NorthWest Industrial Park’s leasing responsibilities.

November 10, 2014

North Carolina Retail Southeast

Westwood Financial Signs Publix as Anchor of Steele Creek Crossing in Charlotte

by John Nelson November 10, 2014

CHARLOTTE, N.C. — Westwood Financial Corp. has signed Publix to occupy a 47,000-square-foot footprint at Steele Creek Crossing, a 77,301-square-foot shopping center located at 12810 S. Tryon St. in Charlotte. The shopping center’s tenant roster includes Rite Aid, Five Guys Burgers and Fries, Little Caesars Pizza, Nationwide Insurance and H&R Block. Westwood Financial’s Steele Creek Crossing was fully leased following Publix’s lease. Steele Creek Crossing is one of seven former Bi-Lo locations that Publix has taken over in the Charlotte area.

November 10, 2014

Maryland Multifamily Seniors Housing Southeast

Cassidy Turley Brokers Sale of Seniors Housing Community in Maryland

by John Nelson November 10, 2014

BERLIN, MD. — Cassidy Turley has brokered the sale of Gull Creek Senior Living Community in Berlin. The 86-unit seniors housing property is composed of 39 independent living units, 37 assisted living units and 10 memory care units. Allen McMurtry, Megan Fetter and David Kliewer of Cassidy Turley represented the undisclosed seller in the transaction. The buyer was an affiliate of WMD Asset Management LLC.

November 10, 2014

California Loans Office Western

San Francisco Office Building Receives $150M Loan

by Nellie Day November 7, 2014

SAN FRANCISCO – A 600,000-square-foot office building in San Francisco has received a $150-million loan. The 48-story property is located at 345 California Center in the city’s Financial District. The loan was secured by JLL’s Keith Largay, John Manning, Alex Witt and Fiorentina Malko. It was provided to an affiliated entity of Metropolis Investment Holdings by Cornerstone Advisers, which acted on behalf of MassMutual.

November 7, 2014

California Office Western

Jenel Management Buys Beverly Hills Office Building for $47.2M

by Nellie Day November 7, 2014

BEVERLY HILLS, CALIF. – Jenel Management Corp. has acquired a 26,500-square-foot office building in Beverly Hills for $47.2 million. The building is located at 461-469 N. Beverly Drive, within the Beverly Hills Triangle. The former Bank of America building was fully redesigned in 1995 by Richard Meir and the Paley Center for Media, which previously was known as the Museum of Television and Radio. It is situated on the southwest corner of North Beverly Drive and Little Santa Monica. Jenel Management was represented by John Bertram of Savills Studley. The seller in this all-cash transaction was composed of several trusts representing several generations of the original business partners who had initially purchased this property in the 1920s from Burton Green. At the time, the space served as the buyers’ lumber company headquarters. The seller was represented by Chris Holland and Patrick Sheekey of Coldwell Banker Commercial WESTMAC.

November 7, 2014

California Office Western

Northrop Grumman Renews at Kearny Mesa Spectrum Center

by Nellie Day November 7, 2014

SAN DIEGO – Northrop Grumman Systems Corporation has renewed its lease for 182,870 square feet of office space at the Kearny Mesa Spectrum Center. The three-building office campus is located at 9326 and 9356 Spectrum Center Blvd. and 4830 Ruffin Road in San Diego. Northrop Grumman is the property’s original tenant. It has occupied this space for nearly 10 years. The campus was built in 2005. It features a large data center, 608 surface parking spaces, electric vehicle charging stations and a cafeteria with multiple outdoor eating areas, among other things. Northrop Grumman was represented by CBRE’s Tom Martinez and Evan Knutsen. The landlord, American Fund US Investments, LP, was represented by Tom Wilcox and Jay Arnett of Colliers International.

November 7, 2014

California Industrial Western

Duke Realty to Develop New 783,407 SF Industrial Building in Perris

by Nellie Day November 7, 2014

PERRIS, CALIF. – Duke Realty has announced plans to build a new 783,407-square-foot spec bulk warehouse building in the Inland Empire East submarket of Perris. The new building will be located near the Ramona Expressway and I-215. The building will be called Perris Logistics Center II. It is currently pre-leasing. The building is scheduled for completion in August 2015. Steve Bellitti and Thomas Taylor of Colliers serve as the leasing agents.

November 7, 2014

Office Texas

Angelic Arranges Financing for Office Building Acquisition in Houston

by Haisten Willis November 7, 2014

HOUSTON — Angelic Real Estate has arranged financing for the sale of 4801 Woodway, a 220,583-square-foot office building in Houston’s Galleria submarket. The building was 48 percent occupied at the time of the acquisition and is in the middle of a renovation. The property was purchased from a special servicer, having been foreclosed on from a previous tenant in common ownership.

November 7, 2014

Connecticut Northeast Office

280,000 SF Office Complex to Undergo Major Renovations in Greenwich, Conn.

by Amy Works November 7, 2014

GREENWICH, CONN. — Kensico Properties is planning a major renovation for Pickwick Plaza, a three-building office complex located in Greenwich. The multi-million dollar capital improvement program will bring the 280,000-square-foot complex back to its Class A status. The main lobbies, elevators, common corridors and bathrooms in all three buildings will be renovated and upgraded; a new façade and store fronts along Greenwich Avenue will be constructed; a new entry from Greenwich Avenue with a water feature will be created; landscaping across the property will be revamped; and the entrance to the four-story, underground garage with be replaced with a new “easy pass” style security gate and high-speed door. Jay Hruska, Tara Stacom, Torey Walsh, Connor Daugstrup and Scott Silverstein of Cushman & Wakefield have been tapped as exclusive leasing agents for the property, which is managed by Hines.

November 7, 2014

Retail Texas

M&M Arranges Sale of Retail Facility in Wichita Falls

by Haisten Willis November 7, 2014

WICHITA FALLS, TEXAS — Marcus & Millichap has arranged the sale of Crossroads Center, an 85,385-square-foot retail property in Wichita Falls. Michael Buckner and Richard Mireles of Marcus & Millichap’s Austin office marketed the property on behalf of the seller, a partnership. Chance Hales of the firm’s Fort Worth office represented the buyer, a limited liability company. Crossroads Center is located at 2708 Southwest Parkway. The property sits on 7.8 acres with 450 feet of street frontage.

November 7, 2014

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