DALLAS — CBRE has brokered the sale of 1700 Pacific, a Class A office tower in the Dallas central business district. Quebec, Canada-based Olymbec Group bought the property for an undisclosed price. The 49-story tower totals 1.3 million square feet and includes three levels of parking and concourse-level retail. CBRE’s John Alvarado, Gary Carr, Eric Mackey and Robert Hill arranged the sale on behalf of the seller, Berkeley Investments Inc. 1700 Pacific is in walking distance of downtown Dallas destinations including the Tower Club, Main Street Gardens, the Neiman Marcus flagship store and Majestic Theatre. Tenants include Akin Gump Strauss Hauer & Field LLP, Neiman Marcus, Mary Crowley Medical Research Center and Southcross Energy.
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TYLER AND LONGVIEW, TEXAS — HFF has closed the sale of, and arranged financing for, two East Texas apartment complexes, Arbors on Chimney Rock in Tyler and Saddlebrook Apartments in Longview, totaling 440 units. HFF marketed the properties on behalf of the seller, Haley Real Estate Group. Coastal Exchange Group bought the properties for an undisclosed amount. HFF’s debt placement team secured the $19 million, 10-year fixed-rate acquisition loan on behalf of the buyer through Redwood Trust. Arbors on Chimney Rock is located at 323 Chimney Rock Road just off Broadway Avenue in Tyler. The property sits on 9.8 acres, is 93 percent leased and includes 176 one- and two-bedroom units averaging 794 square feet. Amenities include a swimming pool, tennis courts, picnic areas and clubhouse. Saddlebrook Apartments is 91 percent leased and includes 264 one-, two- and three-bedroom units averaging 729 square feet. Amenities include a swimming pool, fitness center, sand volleyball court, tennis court, barbecue area and clubhouse. The property is located along H. G. Mosley Parkway, between U.S. Highway 80 and Loop 281 in Longview.
PALMVIEW & LA JOYA, TEXAS — Marcus & Millichap has arranged the sale of two Dollar General Stores, both 8,625-square-foot net-leased properties, one in Palmview, Texas and the other in La Joya, Texas. Terms of the sales were not released. Geoff Ficke and Chris Adams of Marcus & Millichap’s Dallas office marketed the properties on behalf of the seller, a private investor. The buyer, an individual/personal trust, was procured by Dominic Sulo and Matthew Wenger, investment specialists in Marcus & Millichap’s Chicago Oak Brook office. Dollar General-Palmview is located at 2750 West Expressway 83. Dollar General-La Joya is located at 395 West Expressway 83.
CHARLOTTE, N.C. — CBRE has brokered the $64 million sale of Coliseum Centre 3, 5 and 6, three Class A office buildings in the Coliseum Centre office park in Charlotte. The six-story buildings are located at 2550 W. Tyvola Road and 2810 and 2815 Coliseum Centre Drive. Coral Gables-based America’s Capital Partners purchased the properties from Vision Properties/Arena Capital Group and CarVal Investors. Patrick Gildea, Will Yowell and Justin Parsonnet of CBRE represented the sellers in the transaction.
TAMARAC, FLA. — New York-based Katz Properties has purchased Sunshine Plaza, a 237,000-square-foot, Publix-anchored shopping center, for $28.5 million. Built in 1972, the shopping center is located at 4161 W. Commercial Blvd. in Tamarac, part of greater Fort Lauderdale. Sunshine Plaza’s tenant roster features a 51,420-square-foot Publix, a 94,989-square-foot Old Time Pottery, 27,720-square-foot Marshalls, Krispy Kreme, BB&T Bank, Dollar Tree and Rainbow. Katz Properties has selected Winslow Property Management to provide leasing and property management services at the property. Dennis Carson and Casey Rosen of CBRE represented the seller in the transaction.
RUSKIN AND LARGO, FLA. — Colliers International has arranged the sale of two shopping centers in the Tampa Bay area. Sun Point Shopping Center, located at 3040 E. College Ave. in Ruskin, sold for $7.3 million. The 132,374-square-foot shopping center was 80 percent leased to Goodwill, Big Lots and the Hillsborough County Tax Collector at the time of the sale. Sun Point SDC LLC purchased the asset from an undisclosed seller. Mike Milano, Ron Schultz and John Crotty of Colliers International represented the seller in the transaction. East Bay Junction Shopping Center, located at 2480 E. Bay Drive in Largo, sold for $1.8 million. The 56,668-square-foot property was 50 percent leased at the time of the sale to Youfit Health Club, along with a hair and nail salon. MBW Investors LLC purchased the center from CRI Plaza I LLC. Milano and Schultz represented the seller in the transaction.
NORFOLK, VA. — Quantum Real Estate Advisors Inc. has brokered the $5.6 million sale of a freestanding Walgreens in Norfolk. There are roughly 14 years left on Walgreens’ 25-year lease term. A private New York-based investor purchased the asset from a Midwest-based company in a 1031 tax-deferred exchange. Jordan Kaufman and Dan Waszak of Quantum Real Estate Advisors represented the buyer in the transaction.
MORRISTOWN, N.J. — G.S. Wilcox & Co. has arranged $73.7 million in financing for multiple properties across the Northeast. The firm arranged a $16.52 million loan for a 306,847-square-foot grocery-anchored shopping center in North Brunswick, N.J., and $16.26 million loan for a 265,986-square-foot shopping center in Franklin Township, N.J. The $16.26 million loan features a 10-year fixed-rate term and a 25-year amortization schedule. Also in New Jersey, G.S. Wilcox negotiated a $15.32 million loan for single-story 406,000-square-foot office/warehouse facility in Carteret. The property currently has 101,150 square feet of vacant office space. The loan has a 30-month term with extension options and interest-only payments. The firm also arranged $1.6 million for a 40,040-square-foot multi-tenant industrial building in Runnemede, N.J., through a correspondent life insurance company. Additionally, G.S. Wilcox secured $24 million in construction financing for a 59,582-square-foot office building in Queens, N.Y. The loan features a two-year construction period and eight years of additional term. Gretchen Wilcox, David Fryer and Al Raymond of G.S. Wilcox arranged the financing for all the transactions.
QUINCY, MASS. — HFF has secured $25 million in first mortgage financing for 100 Hancock Street in Quincy. HFF placed the long-term, fixed-rate loan with Peoples United Bank for the borrower, Synergy Investments. Renovated in 2008, the 10-story 204,750-square-foot office building is certified LEED silver and features a full-service cafeteria, fitness center, shared conference facility and a three-level, 329-space parking garage. The property is 95 percent leased to a variety of tenants, including several State of Massachusetts agencies. Greg LaBine and Patrick McAneny led the HFF team representing the borrower in the transaction.
NASHUA, N.H. — CBRE has brokered the sale of Turnpike Plaza located at 253 Amherst St. in Nashua. Allen Nashua LLC sold the 131,768-square-foot shopping center for $27 million or $204.91 per square foot to Massachusetts-based Chop Acquisition LLC. The property will be home to New Hampshire’s first Whole Foods Market, which is slated to open this summer. Additional tenants include Staples, A.C. Moore and Bob’s Stores. Christopher Angelone, Brad Nathanson and Nat Heald of CBRE represented the seller in the transaction.