SPARKS, NEV. – Los Altos Crossing, a 35,123-square-foot retail center in Sparks, has sold to BH Properties for $4.7 million. The center is located at Sparks Boulevard and Los Altos Parkway. The transaction also includes six pads totaling 217,974 square feet that are primed for development. The center is currently 47 percent occupied. Notable tenants include Goodwill, Dotty’s Casino, Las Trojes Mexican Restaurant and Dad’s Convenience Store.
WILDOMAR, CALIF. – The Shops at Clinton Keith, a 15,000-square-foot retail center in Wildomar, has sold to a private investor for $4.7 million. The fully leased center is located off Interstate 15. Notable tenants include D’Canters, Bear Creek Eye, Stew’s Barber Shop and Tijuana Tacos. A 7-Eleven and Starbucks also exist on separate parcels. Scott Hook of Coldwell Banker Commercial (CBC) Alliance Orange County represented the seller. Hook also co-represented the buyer, along with David Girty of CBC Alliance.
LAS VEGAS – The NATMI Truck Terminal, a 24,890-square-foot facility in Las Vegas, has sold to a private investor for $5 million. The facility is situated on 10 acres at 4650 East Cheyenne Ave. It is fully leased. The seller, NATMI Truck Terminals LLC, was represented by CBRE’s Michael Caprile, Charles Moore, Marlene Fujita Winkel, Jeremy Green, Tyler Ecklund and Ashley Kolaczynski.
NEWBURY PARK, CALIF. – An 11,508-square-foot industrial facility in Newbury Park has sold to People Creating Success for $2.1 million. The facility is located at 2585-2587 Teller Road, just northwest of Thousand Oaks. People Creating Success is an organization that provides services to the developmentally disabled. The organization was represented by Keith Mathias of KAM Commercial. The seller, a family trust, was represented by Mike Tingus and Cheri Blessing of Lee & Associates-LA North/Ventura.
GREENVILLE, S.C. — Trammell Crow Co. (TCC) has named Greenville-based Centennial American Properties as its local partner in the redevelopment of the Greenville News building in downtown Greensville. The two companies will develop a mixed-use project that could possibly include an upscale hotel, retail and restaurant space, dine-in movie theater, office building, multifamily residences, public plazas and pedestrian walkways, a parking garage and other uses that would fit within the upscale nature of the project. TCC is under contract with Gannett Publishing to purchase the Greenville News building, which is located on Main Street. Jackson Hughes Jr. of Hughes Commercial Properties is handling retail leasing for the development, and CBRE is handling office leasing. Wakefield Beasley & Associates is designing the project.
NEW YORK CITY — The 18-story, 56,500-square-foot Cambria Suites is slated to open in November. Located at 125 West 28th St., the property is the first Cambria Suites hotel in New York City. Designed by Gene Kaufman Architect (GKA), the property will feature 135 suites and a rooftop terrace. As this is the first Cambria Suites in the city, GKA was tasked with not only designing the outer shell of the building, but also designing and programming the hotel’s interior configuration, including the suites, lobby reception, concierge, lounge and dining areas, a ground-floor meeting room and a fitness facility. The design and solution created by GKA will serve as the model for all subsequent New York City Cambria Suites, including the 196-room property at 30 West 46th St. that is slated to top out later this year.
LOUISVILLE, KY. — Marcus & Millichap has arranged the sale of Glenmary Village Apartments, a 272-unit multifamily community located off Bardstown Road at 9606 Clubview Drive in southeast Louisville. Aaron Johnson of Marcus & Millichap’s Louisville office represented the seller in the transaction. The buyer, Utah-based Peak Capital, purchased Glenmary Village for an undisclosed price. Built in 2003 on 22 acres, Glenmary Village Apartments features a large pool and sun deck and an upgraded resort-style clubhouse with veranda, business center, workout facilities and a kitchen area.
NEW YORK CITY — The Daten Group has purchased a vacant former gas station site located at 840 Fulton St. in Brooklyn’s Clinton Hill neighborhood. The New York City-based development firm bought the asset, which includes air rights of the neighboring property, for $7.4 million from Fulvan Realty LLC. The Daten Group plans to develop a seven-story, 40,000-square-foot building on the property. Designed by KBA Architects, the property will features 38 residential units, 20 of which will be affordable, and 5,000 square feet of retail space. Construction for the $20 million development is slated to start in early 2015, with completion set for March 2017. Vibe Living, The Daten Group’s rental management company, will manage and market the property. David Behin of MNS Real Estate’s Investment Sales and Capital Advisory Division represented the Daten Group in the acquisition.
NEW PORT RICHEY, FLA. — Plaza Advisors has brokered the sale of Pasco Square Shopping Center, a 135,421-square-foot retail asset located at the intersection of State Road 54 and Rowan Road in New Port Richey. The property was 90 percent leased at the time of sale to tenants such as Beall’s Outlet, Dollar General Market, Badcock Home Furnishings, Dollar Tree, GNC, Radio Shack, The UPS Store and Subway. Jim Michalak, Mike Cvetetic and Nick Castellano of Plaza Advisors represented the seller, Phillips Edison & Co., in the transaction. The buyer, Isram Acquisition Corp., purchased the asset for $7.4 million. No other brokers were involved in the transaction.
NEW YORK CITY — Ariel Property Advisors has brokered the sale of a development site in Brooklyn’s Park Slope section. Located at 359 Seventh St., the site sold for $1.86 million or more than $450 per buildable square foot. The buyer plans to construct a condominium on the 20.5-foot wide vacant lot, which offers approximately 4,100 buildable square feet. Mark Spinelli, Michael Tortorici, Daniel Tropp and Jonathan Berman of Ariel Properties represented the seller, a private investor, and procured the buyer in the transaction.
