WAUWATOSA, WIS. — Colliers International has arranged the lease of a 13,440-square-foot retail building in Wauwatosa, a suburb of Milwaukee. La Z Boy will occupy space located at 10830 W. Burleigh St. The location will serve as a retail store for the furniture company. Brent Beshears of Colliers International represented the tenant La Z Boy Inc. in the transaction.
Property Type
DENVER – The 49-unit Athenia Apartments in Denver has sold to a private local investment group for $7.8 million. The community is located at 1412 Steele Street. It is situated near City Park, Congress Park and Chessman Park. The buyer plans to carry out a major improvement project at the property. This will include improvements to all common areas and complete rehabs of the unit interiors. The investment group was represented by Adam Riddle and Kevin Higgins of Unique Properties’ Unique Apartment Group. The seller was not named.
LOS ANGELES – A 55,381-square-foot, mixed-use redevelopment property in East Los Angeles has sold to Primestor for $5.5 million. The three-building property is located at 4571-4591 Whittier Blvd., 760 S. McBride Ave. and 755 S. McDonnell. Primestor represented itself in this transaction, while the sellers, JB Realty LLC and Barsky, Barsky, & Rickey LLC, were represented by Scott Burns, Jason Gribin, Shauna Mattis and Geoff Tranchina of Wilson Commercial Real Estate.
SAN DIEGO – A 26,000-square-foot office building in the San Diego submarket of Governor Park has sold to Locale Advisors Inc. for $3.9 million. The vacant building is located at 5015 Shoreham Place. The buyer plans to transform the space into a creative office building. Patrick Rohan of Cushman & Wakefield represented both the buyer and the seller, Cliffwood California LLC, in this transaction. Wells Fargo provided financing for the acquisition and subsequent project redevelopment.
ESCONDIDO, CALIF. – A 4,000-square-foot retail building in Escondido that is currently occupied by 7-Eleven has sold to Marc Fanticola for $2.1 million. The building is located at 620 N. Ash Street. Fanticola was represented by Shaun Riley of Faris Lee Investments. The seller, 620 Ash Street LLC c/o Torrey Realty Holdings Inc., was represented by Chuck Klein, Kevin Held and Andrew Peterson of Cassidy Turley.
PARK CITY, UTAH – An 8,775-square-foot retail condo at the Park City Mountain Resort has received a $2-million refinance. The condo is situated at the base of the resort, which is located at 1345 Lowell Ave. in Park City. The condo features commercial units on its ground floor and seasonal residential units on its upper level. It is occupied by four long-term tenants. The loan features a 10-year fixed term, 25-year amortization schedule and 4.85 percent interest rate. It was arranged by Jeff Meierhofer of the Madison Group.
GRAND PRAIRIE, TEXAS — Brennan Investment Group LLC, a private real estate investment firm, has acquired Woodlands Business Park in Grand Prairie, near Dallas. The property consists of three industrial facilities leased to 12 tenants. The acquisition is part of a joint venture with Origin Capital Fund II LLC. Brennan has acquired 23 buildings and undertaken development on five projects in the Texas market since 2012. Steve Rowland of Transwestern assisted in the transaction.
HOUSTON — James Murphy, managing director of NorthMarq Capital’s Boston-based regional office, secured $9.7 million in acquisition financing for Eastport Industrial Park buildings I & III, two industrial properties with a combined 366,595 square feet located at 8979-8999 and 8901-8919 Market St. in Houston. The transaction was structured with a five-year term with one year of interest-only payments and a 30-year amortization schedule. NorthMarq arranged financing for the borrower, High Street Realty Co., through its correspondent relationship with Great-West Life & Annuity Company.
IRVING, TEXAS — Marcus & Millichap has arranged the sale of The Chalet Apartments, a 40-unit apartment property in Irving. Terms of the sale were not released. Matt Davis of Marcus & Millichap marketed the property on behalf of the seller, an individual/personal trust. Davis also procured the buyer, a private investor. The Chalet Apartments are located at 951 French St. in Irving, 13 miles west of downtown Dallas. Built in 1985, the complex includes 10 buildings and features 40 two-bedroom units. At the time of sale the complex was 100 percent occupied.
PHILADELPHIA — Affiliates of Equus Capital Partners LLC have acquired a three-property multifamily portfolio in Central Florida from affiliates of Oculus Development LLC and Alex Brown Realty Inc. The assets total 710 units and had an average occupancy rate of 95 percent. The properties include Village at East Lake in Clermont, Village at Lake Ned in Winter Haven and Village at Park Road in Plant City. Madison Apartment Group LP, the multifamily operating platform of Equus, will manage the communities.