PERRIS, CALIF. — Indian Hills Plaza, a 10,142-square-foot retail strip center in the High Desert community of Perris, has sold to Nemax Inc. for $2.2 million. The plaza is located at 540 West 4th Street. It was 82 percent leased at the time of sale. Mike Qutami of Country Estate Realty represented the seller, Hakam K. Othman and Talat Award Dib, in this transaction.
Property Type
AUSTIN — HFF has arranged the sale of Stonecreek I and II and Canyon at Wild Basin, a three-building, Class A office portfolio totaling 314,399 square feet in Austin. HFF marketed the properties on behalf of the seller, Intercontinental Real Estate Group. A private real estate fund advised by Crow Holdings Capital Real Estate purchased Stonecreek I and II. CapRidge Partners LLC purchased Canyon at Wild Basin. Stonecreek I and II are located at 11920 and 11921 North Mopac Expressway just north of The Domain in northwest Austin. The buildings are 98 percent leased to tenants including CoreLogic, Time Warner, Century Link, Intellimark, TSMC and Siemens. Canyon at Wild Basin is located at 115 Wild Basin Road in southwest Austin. The building is 80 percent leased to tenants including Open Symmetry, Alliance Association Management, owns & Stanford, Dynamic Computing Services, X1 Labs, Creative Solutions and Cloud 8 Sixteen.
MIAMI BEACH, FLA. — The AIDS Healthcare Foundation has sold a 7,500-square-foot retail building and a three-unit apartment building at 1501 Alton Road in Miami Beach’s South Beach neighborhood for $4.6 million. Steve Hyatt of Berger Commercial Realty represented the AIDS Healthcare Foundation in the transaction. The property’s current tenant, an Out of the Closet thrift store, will continue to operate at the location under a short-term lease-back agreement.
CUPERTINO, CALIF. — Sprouts Farmers Market has opened a 20,901-square-foot store in the Cupertino Crossroads shopping center. The store is located at 20558 Stevens Creek Blvd., inside the former PetSmart space. Sprouts joins Pier 1 Imports and TJ Maxx, among other tenants, at the neighborhood shopping center. The health-conscious grocer was represented by Bob Berndt and Sarah Edwards of SRS Real Estate Partners. The landlord, Mardesich Company, was represented by CBRE’s Rick Shaffer.
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.
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.