GLENDALE, CALIF. – CNL Healthcare Properties has acquired the Lee Hughes Medical Building, a 76,758-square-foot medical office building in Glendale, for $29.9 million. The Class A building is located on the campus of the 500-bed Glendale Adventist Medical Center. Lee Hughes is connected to the main hospital through a sky bridge. The building is currently 97 percent occupied by a range of tenants, including an ambulatory surgery center leased by Adventist Health. Lee Hughes Medical Building is the only on-campus medical office building not owned by the hospital. Cypress West Realty Management Inc. will provide on-site leasing and asset management services.
SALT LAKE CITY – Gelt Inc. has purchased the 247-unit Murray Ridge Apartments in Salt Lake City for $25.5 million. The 22-building community is located at 4120 South 500 East. Murray Ridge was developed in two phases in 1973 and 1977. On-site amenities include a fitness center, clubhouse, barbeque areas, business center and swimming pool. The community is situated near Interstate 15. It is within five miles of all major Salt Lake City interstates. Murray Ridge sits just one mile from the Meadowbrook UTA Trax Station and the Murray North Trax Station.
LAS VEGAS – A 4,320-square-foot building in Las Vegas that is leased to Krispy Kreme donuts has sold to Richmond-Southpoint 10 LLC for $3 million. The building is located at 9791 S. Eastern Ave. The LLC was represented by Jeff Berg and Mica Berg of Sun Commercial Real Estate. The seller, BSWC Properties LLC, was represented by Cathy Jones, Paul Miachika, Jessica Cegavske, Roy Fritz and Cash Jordan of the same firm.
DALLAS AND AUSTIN — Four new locations of the Austin-based fast casual restaurant VERTSKEBAP, including three in the Dallas area and one in Austin, are set to open by the end of the year. The new locations will be at 5100 Beltline Road in Addison, 859 State Highway 21 in Lewisville, the corner of Highway 75 and Walnut Hill Road in Dallas and in the South Shore District in Austin. The new stores will bring VERTSKEBAP’s storefront count to 20. Earlier this year, the company opened three new locations in Austin and six in Houston. VERTSKEBAP plans to continue expansions in Dallas, Houston and San Antonio in 2015. The restaurants are built around Doner Kebap, a popular street food in Germany.
ALLEN, TEXAS — Lee & Associates has negotiated the sale of 7.5 acres of land located at 301 Ridgemont Drive in Allen, a suburb of Dallas. George Tanghongs and Brett Lewis of Lee & Associates represented the seller, Okmetic. IntellEPI, a supplier of epitaxy-based semiconductor wafers to the electronics and optoelectronics industries, was the buyer.
ROCKWALL, TEXAS — Marcus & Millichap has arranged the sale of The Towers Self Storage, a 123,619-square-foot self-storage facility located in Rockwall, a suburb of Dallas. Brandon Karr and Danny Cunningham of Marcus & Millichap marketed the property on behalf of the seller, a private investor. Karr also represented the buyer, a limited liability company. The Towers Self Storage is located at 159 Riding Club Road. The facility contains 191 climate-controlled units, 160 drive-up units, 58 interior units, 90 warehouse units, seven office spaces and 25 boat/RV spaces. The property also features roll-up doors, 36 cameras, keypad entry, perimeter fencing and lighting.
FRISCO, TEXAS — HFF has arranged the sale of Eldorado Market Place, a 162,331-square-foot grocery-anchored retail center in Frisco, a suburb north of Dallas. HFF marketed the property on behalf of the seller, WD Eldorado & Tollway LP, an affiliate of Duggan Realty Advisors LLC and Waitt Investments. An affiliate of Fidelis Realty Partners LTD purchased the asset for an undisclosed amount. Eldorado Market Place is located at the northwest corner of the Eldorado Parkway and the Dallas North Tollway. The property was built in 2008 and is 99 percent leased to 35 tenants including Market Street, PetSmart, RE/MAX, The UPS Store and AT&T. Doug Hazelbaker and Ryan Shore of HFF represented the seller.
CHICAGO — The Telos Group LLC has arranged a 49,464-square-foot lease for Cision at One Prudential Plaza in Chicago. Cision, a provider of public relations software and services, will occupy the entire seventh floor of One Prudential Plaza. The building’s ownership, Berkley Properties and 601W Cos., have committed nearly $85 million of improvements, which include the lobby and plaza areas as well as new and upgraded amenities. Jesse Van Dyke of JLL represented Cision in the transaction. Matt Pistorio and Bill Truszkowski of Telos represented building ownership.
KANSAS CITY, MO. — NorthMarq Capital has arranged $7.4 million refinancing for Forest Park Apartments in Kansas City. The 198-unit multifamily property is located at 4623 N.E. Winn Road. Greg Duvall and Brent Blake of NorthMarq structured the 10-year loan with a 30-year amortization schedule. NorthMarq arranged financing for the undisclosed borrower through its seller-servicer relationship with Freddie Mac.
ANN ARBOR, MICH. — Gerdom Realty & Investment has arranged the lease of a 2,600-square-foot space in Ann Arbor. Coralville, Iowa-based Pancheros Mexican Grill will occupy space within Pittsfield Place, a new shopping center located at Ann Arbor-Saline Road. Versa Cos. developed the property. Tjader Gerdom and Larry Siedell of Gerdom Realty & Investment represented Pancheros in the transaction. This will be the second Pancheros in Ann Arbor. The new location is expected to open in the first quarter of 2015.