GLENDALE, ARIZ. – A 15,549-square-foot retail building in Glendale has sold to Wadsworth Development Group for $2.1 million. The building is located at 7650 West Bell Road. It is fully occupied by Terri's Consignment. Wadsworth was represented by Darren Pitts of Velocity Retail Group. The seller, Ariwah LLC, was represented by Sharon Reeves, Barbara Lloyd and Lane Neville of NAI Horizon.
Property Type
SAN FERNANDO, CALIF. – The Elk’s Lodge Building in San Fernando has sold to Mayfair Investment Co. LLC for $2 million. The property is located at 804 Pico Street. It contains 20,000 square feet on nine contiguous parcels. The 77-year-old facility will continue to house Elks Lodge 1539. Mayfair was represented by Ash Joshi of Capital Realty Solutions. Elks member Robert Paul represented the seller, Elks San Fernando LLC.
HOUSTON — HFF has completed the sale of three industrial properties totaling 219,452 square feet in Houston’s Pologis Park NorthPark, formerly NorthPark Central Business. HFF marketed the properties on behalf of the seller, J.A. Billipp Co. Prologis Inc. bought the assets for an undisclosed amount. The properties are located at 433, 533 and 600 NorthPark Central Drive. They are close to Interstate 45 and Beltway 8, Hardy Toll Road and George Bush Airport. The buildings are 100 percent leased to tenants including CalAtlantic, Michigan Institute of Aeronautics, Universal Technical Institute and Zoyto. HFF’s sales team included Rusty Tamlyn and Wesley Hightower, who worked with seller principals Andy Billipp and Mark Witte of J.A. Billipp Company.
HOUSTON — West Memorial Place, a 330,000-square-foot Class A office building has been topped out. The nine-story building is 50 percent leased and will open in early 2015. It is deigned to meet LEED Platinum standards. Skanska Commercial Development is the owner of the site and HOK is the building’s architect. Skanska USA Building is the project’s construction manager.
DALLAS — UCR Investment Sales has announced the sale of three properties totalling 178,407 square feet with a combined value of $36,625,500. Cross Pointe Center is a 45,465-square-foot retail center located at 1441 North Saginaw Boulevard in Saginaw, Texas. Shops at Abilene is a 62,511-square-foot shopping center at the southeast corner of Southwest Drive and Catclaw Drive in Abilene, Texas. The third transaction is listed as confidential and is located in Fort Worth. Adam Howells, Jace Hinderland and Jessica Donnelli marketed the properties for separate ownerships.
RICHARDSON, TEXAS — KDC, a commercial real estate development and investment firm, broke ground on a 489,000-square-foot office complex July 21. The complex is part of a 186-acre mixed-use development in Richardson, Texas located at 1717 East CityLine Drive. The facility will have three campus-style buildings at the southwest corner of President George Bush Turnpike and Wyndham Lane. When finished, CityLine will have six million square feet of office space, two hotels, 3,925 multifamily residential units, 300,000 square feet of grocery, restaurant, entertainment and retail space along with three parks.
BIRMINGHAM, ALA. — Regions Bank, the primary banking subsidiary of Birmingham-based Regional Financial Corp. (NYSE: RF), has been approved as a Fannie Mae Delegated Underwriting and Servicing (DUS) lender. Regions Bank has also acquired a DUS servicing portfolio totaling approximately $1 billion from an undisclosed lender(s). The DUS designation allows the bank to provide long-term financing solutions for its multifamily housing clients. Beekman Advisors assisted Regions and advised on the transaction. “Regions Bank is pleased to now be one of the 24 Fannie Mae designated DUS lenders in the U.S.,” says John Turner, head of Regions’ Corporate Bank. “This capability is a significant addition to the bank’s existing suite of debt capital products to meet the needs of real estate banking clients.”
FORT LAUDERDALE, FLA. — CBRE has arranged the sale of the 346-room W Fort Lauderdale Hotel and the remaining 147 residences in the 171-unit Residences at W Fort Lauderdale. The twin 23-story towers are located at 401 N. Fort Lauderdale Beach Blvd. (W Hotel) and 3101 N. Bayshore Drive (Residences). An affiliate of Related Fund Management acquired the two properties for an undisclosed price. Robert Given, Zachary Sackley, Neal Victor and Robert Taylor of CBRE represented the seller, along with Robert Kaplan, Mark Rutherford and Chris Lentz of The Ackman-Ziff Real Estate Group.
PALM BEACH GARDENS, FLA. — Cassidy Turley has arranged a $28 million loan for Golden Bear Plaza, a three-building, Class A office park spanning 243,000 square feet in Palm Beach Gardens. The asset is located at 11760, 11770, 11780 and 11790 Highway 1. The park features private terraces, floor-to-ceiling windows, a fitness center, on-site property management and views of the Atlantic Ocean. Philip Mudd and Bradley Geiger of Cassidy Turley arranged the loan through Guggenheim on behalf of the borrower, Equus Capital Partners Ltd.
MORRISVILLE, N.C. — Time Warner Cable has renewed its lease of 97,500 square feet of industrial space at Woodlake Center III at 101 Innovation Ave. in Morrisville, about 14 miles west of Raleigh. Woodlake Center is an industrial park spanning 812,000 square feet and offers access to Raleigh-Durham International Airport, I-40 and I-540. Hooker Manning of Duke Realty, along with Jackson Rives of Cushman & Wakefield | Thalhimer, represented the owner, Duke Realty, in the lease transaction.