RIALTO, CALIF. — CapRock Partners has acquired two fully entitled land parcels in Rialto. The parcels are called CapRock Distribution Center I and II. The first parcel is located at the northeast corner of North Locust and West Bohnert. The second is located at the northwest corner of North Linden Avenue and West Casmalia Street. CapRock plans to build more than one million square feet of industrial space on the two sites this fall. The project will have direct access to the 210 Freeway. It’s also near the 10/15 Freeway interchange. CapRock also received $50 million in debt and equity financing that was facilitated by Chris Bramel and Paul Conzelman of Bridgeport Investments.
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SAN DIEGO – SR Commercial has acquired the Mark II Portfolio, an industrial and office portfolio in San Diego that contains a total of 228,061 square feet, for $35.1 million. The portfolio includes 9450, 9484, 9530, 9537, 9557, 9705, 9707, 9779 Candida Street; 9474, 9524 and 9545 Kearny Villa Road; 9550 Miramar Road; and 9606, 9636, and 9663 Tierra Grande Street. The portfolio is 94 percent leased. About 65 percent of this space will become available over the next three years. All of the properties were built between 1982 and 1999. The portfolio’s largest tenant is 24 Hour Fitness, which occupies the full 31,000-square-foot building at 9550 Miramar Road. Other tenants include White Labs, S&R Sports Inc., Secure Transportation and John Deere Landscapes. Rick Reeder, Brad Tecca, Bryce Aberg and Brant Aberg of Cassidy Turley represented both the buyer and seller, TA Associates Realty, in this transaction. The Abergs will continue to provide leasing services to the new ownership.
TUCSON, ARIZ. – Omninet Capital LLC has acquired a four-property multifamily portfolio in Tucson for $34.6 million. The Class B portfolio includes 1,166 units. The value-add properties included in the transaction are Sedona Springs at 373 N. Wilmot Road; Sienna Ridge at 5353 E. 22nd Street;Summit Ridge at 1252 S. Craycroft Road; and Verrano Park at 6850 E. Gold Links Road. Omninet represented itself in this transaction. The seller, Gaines Investment Trust, was represented by Cindy Cooke and Brad Cooke of Colliers International. This sale is the largest multifamily portfolio sale unit-wise in Tucson since 2010, according to Colliers.
TEMPE, ARIZ. — Passco InSite LLC, a joint venture between Passco Companies LLC and InSite Investment Realty, has acquired the 270-unit Ovation at Tempe for $25.8 million. The Class B community is located at 4502-4505 S. Hardy Drive. Community amenities include a fitness center, two swimming pools, two spas, tennis court, children’s playscape, picnic area with barbeque grills and covered parking. The property was originally built as a condominium complex. The JV plans to upgrade the units’ interiors, add carports, and enhance the property’s exterior and community amenities.
PORTLAND, ORE. — Swift Realty Partners has acquired the Executive Building, a 104,630-square-foot office building in Downtown Portland, for $21.1 million. The Class A building is located at 811 SW 6th Ave. The Executive Building is situated at the intersection of Portland’s main MAX light rail lines, near Interstates 5 and 84 and Highway 26. The property is also near amenities like the Pioneer Place Shopping Center and The Nines Hotel. The building is 91.4 percent leased to three tenants, including J.P. Morgan Chase and the State of Oregon Department of Environmental Quality (DEQ). The seller, The Matteson Companies, was represented by HFF’s Nick Kucha and Michael Leggett.
FORT WORTH — A 124-room Marriott Courtyard is set for construction in Fort Worth’s Stockyards National Historic District. Sunbelt-CFX LLC, which was represented by Lynn Dowdle of Dowdle Real Estate, acquired the 96,000-square-foot site located at 2533 N. Main St. Robert Grunnah and Lily Chang represented the seller, Exhibits Building Partnership. Construction is expected to begin immediately.
DALLAS — The Cantrell Co. has completed a pair of apartment sales in the Dallas area for California-based investors. The investors have purchased the 200-unit Eagles Landing Apartments in Garland, northeast of Dallas proper, and the 82-unit Buena Vida Apartments in Dallas’ Pleasant Grove neighborhood. Eagles Landing is a Class B property located at 238 E. Oates Road that was bought by Parque Del Sol LP of Dallas. Buena Vida Apartments is located at 2722 S. Buckner Blvd. and was sold to Dallas-based Buena Redevelopment LLC.
HOUSTON — Houston-based Baker Katz has arranged the lease of a 40,000-square-foot Dave & Buster’s in Houston. The property is located in the Baybrook Mall expansion project and will be the third Dave & Buster’s location in the Houston area. Jamie Weaver and Jason Baker of Baker Katz, along with Ross McCook and Larry Leon of Venture Commercial, represented the tenant. Greg Sullivan represented the landlord. Dave & Buster’s was founded in Dallas in 1982.
MISSOURI CITY, TEXAS — Bellomy & Co. has brokered the sale of Bankers Mini Storage in Missouri City. The 479-unit facility includes 92,733 square feet of rentable space. The property has climate-controlled, non-climate, boat and RV storage units. Bankers Mini Storage is located on FM 1092 about 18 miles southwest of Houston. Bill Bellomy, Michael Johnson and John Owens marketed the property on behalf of a Houston-based family partnership. The same group also procured the buyer, a Corpus Christi-based storage operator.
ALEDO, TEXAS — Marcus & Millichap has arranged the sale of a 6,000-square-foot, net-leased property occupied by Dr. Pepper – Snapple in Aledo, 20 miles west of Fort Worth. Chris Gainey and Philip Levy with Marcus & Millichap marketed the property on behalf of the seller, a private investor. Levy and Gainey also secured the buyer. The industrial building is located at 700 Bear Cat Road. The lease is a five-year, double-net lease with a corporate guarantee from American Bottling Co., a subsidiary of Dr. Pepper Snapple Bottling Group.