CANTON, OHIO — Marcus & Millichap has brokered the $2.7 million sale of a newly constructed Mattress Firm in Canton. The 5,000-square-foot, net-leased property was sold at a 6.5 percent capitalization rate. Erin Patton, Scott Wiles and Craig Fuller of Marcus & Millichap represented the seller, a limited liability company, and the buyer, a private investor.
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CHICAGO — Mid-America Real Estate Corp. has arranged two leases for Yoga Six, and will also represent the yoga studio during its multiple store rollout in the Chicago area. The retailer signed on for 6,626 square feet at 1150 N. State in Gold Coast and 6,028 square feet at Roosevelt Collection in South Loop. The yoga studio currently has one location in Lincoln Park and plans to open five stores in the Chicago area by 2015. Paul Bryant and Michael Wexler of Mid-America will represent the yoga studio in the transactions. Justin Collins of Jameson Commercial represented the landlord in the Gold Coast transaction. McCaffery Interests represented the landlord in the South Loop transaction. Yoga Six has eight locations throughout California, Illinois and Missouri.
COMMERCE TOWNSHIP, MICH. — Bernard Financial Group has arranged a $1.2 million refinance loan for Bogie Commerce, a 9,848-square-foot retail center in Commerce Township, approximately seven miles north of Novi. Dave Dismondy of Bernard Financial Group originated the loan for the borrower, Bogie Commerce Associates LLC. Stancorp Mortgage Investors LLC, a correspondent of Bernard Financial Group, was the lender in the transaction.
BIRMINGHAM, MICH. — Friedman Integrated Real Estate Solutions has arranged the lease of a 3,353-square-foot office space located at 970 S. Old Woodward Ave. in Birmingham, approximately 19 miles northwest of Detroit. Robert Hibbert and Todd Hawley of Friedman Integrated Real Estate Solutions represented the undisclosed landlord and the tenant, Clarity Advanced Eye Care, in the transaction. Clarity Advanced Eye Care, headed by Dr. Jared Most and Dr. Phillip Elston, is a full-scope eye care center. The business is set to open this November.
LOS ANGELES – Waterbridge Capitalhas acquired a 1-million-square-foot building that formerly served as a department store for Hamburger’s and May Company for an undisclosed sum. The building is sits directly adjacent to the Historic Core, Financial, and South Park districts. The new owner plans to convert the property into a creative space.It will be the first creative campus of this size for the technology industry in Downtown Los Angeles according to CBRE, which represented the seller. Waterbridge was represented by Frank Lahijani and Jeremiah Curry of Global Commercial Real Estate. The seller, an undisclosed family ownership, was represented by CBRE’s Phillip Sample, Chris Caras and Michael Shustak.
TUMWATER, WASH. — Town Center East III, a 157,625-square-foot office campus in Tumwater, has received $26.7 million in financing. The tower is located at 243 Israel Road, about five miles from Olympia. The property was built in 2006. The permanent financing was arranged by NBS Financial, which represented both the lender and the borrower in this transaction. Jeff Henderson and Zack Goodwin executed this transaction.
LOS ANGELES – The Swig Company has purchased a 72,500-square-foot building in Los Angeles that serves as the Disney Store’s western regional headquarters for $26.1 million. The building is located at 443 S. Raymond Ave. The historic building was originally constructed in 1922. The campus underwent extensive renovations that were completed in 2005. The seller, Karlin Real Estate, was represented by Bob Safai and Matt Case of Madison Partners.
PHOENIX – A 355-unit apartment complex in Phoenix has sold to SPL Real Estate & Management Co. for $12.5 million. The community is located at 2912 E. Indian School Road. It was built in 1979. The buyer was represented by Todd Braun and Will Barnard of Lee & Associates. The seller, Bella View Apartments LLC, was represented by Karl Abert of Newmark Grubb Knight Frank.
OAKLAND, CALIF. – Avison Young has opened a new office in Oakland. The outpost will be located at 300 Lakeside Drive within the Kaiser Center in downtown Oakland. Charlie Allen will head up the office as managing principal. This is the Canadian firm’s 42nd office in the U.S. and its 10th in California.
AUSTIN — Berkadia Commercial Mortgage’s Austin office has originated $20.3 million in financing for a multifamily property in Austin. Senior vice president Andy Hill worked with borrower Atlantic Pacific Cos. to arrange the seven-year, fixed-rate loan through Berkadia’s Freddie Mac program. The borrower will use the loan for the refinancing of Atlantic Grand Oaks, a 240-unit unit property 10 miles southwest of downtown Austin. Loan terms include an interest rate below 4 percent and a 30-year amortization schedule. Atlantic Grand Oaks is located at 9323 Manchaca Road in Austin. The complex consists of studio, one-, two- and three-bedroom units. Amenities include a pool, volleyball and basketball courts, playground and fitness center.