HOUSTON — Coldwell Banker Commercial United has arranged the sale of Tiffany Bay Court, an apartment complex located at 16505 Tiffany Bay Court in Houston. Patrick Buckhoff of Coldwell Banker represented the seller. Jerry Turner of Jerry Turner Realty represented the buyer, Homes Renew LLC.
DESOTO, TEXAS — Mark One Capital has arranged financing for the purchase of a four-story, 88-room Holiday Inn Express in Desoto, a suburb of Dallas. Chris Parker and Farhan Kabani of Mark One’s Dallas office arranged the financing. Chris Gomes of Marcus & Millichap’s Dallas office and Allan Miller of the firm’s San Antonio office represented the buyer and the seller in the transaction. The hotel was built in 2006 and renovated in 2012.
NORMAN, OKLA. — Marcus & Millichap has arranged the sale of Christian Brothers Automotive, a 4,945-square-foot, net-leased property in Norman, Okla. Jason Vitorino of Marcus & Millichap’s Dallas office represented the seller, a private investor. Steven Schechter of the firm’s Encino office represented the buyer, a personal trust that purchased the property in a 1031 tax-deferred exchange. Christian Brothers Automotive is located at 3050 Yarbrough Way in Norman, just north of Rock Creek Road. The Houston-based company has more than 115 locations in 15 states.
HUNTLEY, ILL. — Colliers International has arranged the $5.2 million sale of a 58,400-square-foot office building in Huntley, approximately 57 miles west of Chicago. Life Spine Inc. will occupy space in the former Duo-Fast Corp. building located at 13951 S. Quality Drive. Glenview, Ill.-based Illinois Tool Works Inc. sold the two-story, 44,000-square-foot Class A office building, which it acquired in 1999. The property was built in 1997. Life Spine, a spinal implant company, outgrew its 11,000-square-foot headquarters building at 2401 W. Hassell Road in Hoffman Estates and will move to the new location before the end of the year. Ned Frank of Colliers represented the buyer, Life Spine. Jeff Janda and Jim Planey of Lee & Associates represented the seller, Illinois Tool Works.
ALBION TOWNSHIP, MICH. — Bernard Financial Group has arranged a $3 million construction loan for an 83,087-square-foot industrial building in Albion Township. Dave Dismondy of Bernard Financial Group originated the loan for the borrower, Woodworth Homer LLC. Stancorp Mortgage Investors LLC, a mortgage-banking firm representing several life insurance companies and conduits, provided financing for the loan.
LANSING, MICH. — Friedman Integrated Real Estate Solutions has arranged the sale of a 22,556-square-foot office building in Lansing. The property is located at 6452 Millennium Drive. The seller, 6452 Millennium LLC, sold the building to Pat and Mark Properties LLC. Barry Swatsenbarg and Richard Deptula of Friedman represented both the buyer and seller in the transaction.
CHICAGO — Marcus & Millichap has brokered the $425,000 sale of a six-unit apartment property in Chicago. The property is located at 3145 N. Keating Ave. and features one- and two-bedroom units. The building also features an on-site laundry facility and a detached two-car garage. An undisclosed buyer purchased the property. Kyle Stengle and Tony Mazur of Marcus & Millichap’s Chicago downtown office represented the seller, an individual/personal trust.
APPLE VALLEY, MINN. — IMH Financial Corp. (IMHFC) has broken ground on a 196-unit luxury apartment development in Apple Valley, a suburb of Minneapolis. Gabella at Parkside will be the first of a planned five-phase, 12.5-acre development known as Parkside Village. The class A, four-story property is expected to be complete by February 2016. The total development cost of $36 million will be financed through an equity contribution of $12 million by IMHFC and a construction loan of $24 million secured from the Bank of the Ozarks. Gabella at Parkside will feature a mix of one-, two- and three-bedroom units ranging in size from 800 square feet to 1,388 square feet. Amenities will include a resort-style pool and hot tub, sun deck, cabanas, grills, fire pits, indoor/outdoor gaming area, a fitness center, theater room, lounge, yoga studio, spinning studio, internet cafe and dog walking and washing areas. Kaas Wilson is the project architect and Stonebridge Construction is the general contractor for the project. IMHFC has partnered with developer Titan Investments of Denver, Colo. to design the project and coordinate with the city of Apple Valley over the last two years to receive full entitlements and negotiate the development subsidies from …
HONOLULU, HAWAII – Forever 21 has announced plans to open a 12,000-square-foot store at Ka Makana Alii, a 1.4-million-square-foot regional mall being developed in West Oahu. Ka Makana Alii will break ground later this year. The first phase is scheduled to open in 2016. The new mall will feature more than 150 shopping, dining and entertainment options, two hotels and LEED-certified office space. It will be anchored by Macy’s and H&M. This will be the first Forever 21 in West Oahu, and the fifth in Hawaii. The mall is being developed by DeBartolo Development.
LOUISVILLE, COLO. – Servtech has leased 95,000 square feet of industrial space in Louisville. The space is located at 333 Centennial Parkway. The electrical motor controls manufacturer was represented by Adam Micheli of Berkshire Hathaway and Gwenivere Snyder of Colorado Landmark Realtors. The landlord, Neoserv Co Qrs 10 13 Inc, was represented by Chris Ball, Brandon Ray, Alec Rhodes, Tyler Smith and Aaron Valdez of Cassidy Turley.
