SAN FRANCISCO — Golden Gate Bell Restaurant Holdings (GGBRH) has acquired 72 Taco Bell restaurants in the Bay Area for an undisclosed sum. The restaurants are located throughout the Bay Area, from Benicia to Santa Cruz to Tracy. GGBRH is an affiliate of A&C Ventures Inc. (ACV). ACV now has an ownership stake in more than 100 YUM! Brands restaurants through its partnerships. The seller, franchisee Dolan Foster Enterprises LLC (DFE), opened its first Taco Bell restaurant in Oakland in 1969. DFE was one of the larger Taco Bell franchises in the nation.
Property Type
LAKE ELSINORE, CALIF. — HELF Investments has acquired Canyon Hills Marketplace, a 108,358-square-foot neighborhood shopping center in Lake Elsinore, for $33.5 million. The center is located at 25381-25341 and 29996-29997 Canyon Hills Road. Canyon Hills is fully occupied by tenants like Stater Bros., CVS, Jack in the Box, Wells Fargo, Carl’s Jr. and Panda Express. The center opened in two phases in 2006 and 2009. CBRE’s Reg Kobzi, Joel Wilson and Peter Orth represented both the buyer and seller, CHMP No 1 LLC & CHMP II Owner LLC, in this transaction.
WAIKOLOA VILLAGE, HAWAII — Waikoloa Highland Center, a 73,524-square-foot shopping center in Waikoloa Village, has sold to an unnamed buyer for $22.4 million. The center is located at 68-1845 Waikoloa Road on the Big Island of Hawaii. Waikoloa Highland is situated on the main road connecting Waikoloa to Hilo. It is 75 percent occupied. The center is anchored by Waikoloa Village Market. Other notable tenants include Chevron, Subway and First Hawaiian Bank. Waikoloa Highland is the only full-service grocery-anchored center in the entire trade area of Waikoloa Village within a 17-mile radius. The seller, 3D Investments, was represented by Donald MacLellan, Richard Chichester and Thomas Chichester of Faris Lee Investments.
OXNARD, CALIF. – PODS has leased a 232,500-square-foot building in Oxnard. The lease is valued at nearly $2 million. The company will be relocating and expanding from nearby Ventura, where it was based for eight years. The new space is located at 301 S. Rose Ave. CBRE’s Paul Farry, Jim Meaney, Doug Shaw represented both PODS and the landlord, One Miracle Property, in this transaction.
PHOENIX — First Commons at West 10, a 99,528-square-foot industrial complex in Phoenix, has sold to Enright Capital for $6 million. The building is located at 4625 and 4635 W. McDowell Road. It was built in 2002. The property was 60 percent leased at the time of sale. Bob Buckley, Tracy Cartledge and Steve Lindley of Cassidy Turley represented both the buyer and seller, MDI Capital, in this transaction.
DALLAS — KDC and Invesco Real Estate have begun construction on a 12-story, 150,000-square-foot office building in Uptown Dallas. The planned Class A office building will be located at 1920 McKinney Ave. and will feature six stories of office space on top of a six-story parking structure. The ground floor will have 8,500 square feet of retail and restaurant space. The building is scheduled for completion in early 2016.
HOUSTON — Wood Partners hosted a grand opening event for Alta City West, a 133-unit apartment complex in Houston. The 119,000-square-foot complex sits on three acres at 9233 Westheimer Road and is currently 29 percent leased. Good, Fulton & Farrell designed the building. Alta City West includes five studios a mix of studio, one- and two-bedroom units, and 188 parking spaces. Amenities include a clubhouse, gym, outdoor kitchen areas and a pool. The complex is located close to major local employers including Phillips 66, Chevron, Halliburton, BP, Shell and Exxon.
KATY, TEXAS — Q10 | Kinghorn, Driver, Hough & Co. has arranged a $4.5 million loan for the refinancing of the Entrust Office Building in Katy, a suburb of Houston. The 32,382-square-foot building, located near the Grand Parkway and Westpark Tollway, is the result of a collaboration between The Mission Cos. and Entrust Inc. Thrivent Financial provided the 10-year loan, which includes a 25-year amortization schedule. Ray Driver III and Dave Holland of Kinghorn worked to arrange the transaction.
HOUSTON — HFF has arranged both the sale and financing for 8 West Centre, a new Class A office building on the Houston Tollway in Houston. HFF marketed the property on behalf of the seller, Core Real Estate. Azrieli Group, a real estate investment company based in Tel Aviv, purchased the asset for an undisclosed price. HFF assisted Azrieli in securing a five-year, fixed-rate acquisition loan through Aegon USA Realty Advisors LLC. Completed in 2013, 8 West Centre is a 227,045-square-foot, four-story property with a 938-space parking garage. The LEED Silver designated building is fully leased to two tenants, Cameron International Corp. and Helix Energy Solutions. The property sits on nine acres at 3505 W. Sam Houston Parkway North inside the Beltway 8 loop road. The HFF team representing the seller included Dan Miller, Rusty Tamlyn, Mark West and Trent Agnew. HFF’s debt placement team included Matt Kafka and Wally Reid.
DALLAS — Marcus & Millichap has arranged the sale of 18170 Hillcrest Road, a 12,654-square-foot office property in Dallas. Ron Hebert of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a partnership. An outside broker represented the buyer, an owner-user. The property was built in 2001 on 1.2 acres at the northeast corner of Hillcrest Road and Frankford Road. The building includes a loading dock and a separate 1.6-acre parcel of undeveloped land.