RENO, NEV. – The 245-unit Club Ambassador Apartments in Reno has received a $15-million refinance. The community is located at 6402 Mae Anne Ave. Financing includes a 10-year term and 30-year amortization schedule. It was arranged by Ory Schwartz of NorthMarq Capital through the firm’s seller/servicer relationship with Freddie Mac.
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SAN DIEGO – The 30-unit Century Arms Apartments in the San Diego submarket of Imperial Beach has sold to the Kruetzkamp Family Trust for $3.6 million. The community is located at 1471 13th Street. It was built in 1977 and is fully occupied. The buyer plans to completely renovate the property. Savvas Marinos and Daniel Foley of Colliers International represented both the buyer and the seller, Kromydas Family Trust, in this transaction.
PETALUMA, CALIF. – A 186,000-square-foot industrial property in Petaluma has sold to Lowenberg & Associates for an undisclosed sum. The multi-tenant property is located at 2200-2240 South McDowell Blvd. It is currently occupied by Thermo Fisher Scientific and Dr. Pepper Snapple Group. Glen Dowling, Tony Sarno, George Eckard, Seth Siegel, Adam Lasoff and Grant Lammersen of Cushman & Wakefield represented both the buyer and the seller, 2200-2240 South McDowell, LLC, an affiliate of PB&J Acquisitions and Investcorp, in this transaction. Dowling and Sarno are currently marketing the remaining 46,440 square feet for lease.
TUCSON, ARIZ. – A 10,040-square-foot retail property in Tucson that is occupied by Pet Club | R&S Mattress has sold to an individual/personal trust for $2.3 million. The center is located at 3996 West Ina Road. Jamie Medress and Mark Ruble of Marcus & Millichap’s Phoenix office represented both the buyer and the seller, a limited liability company, in this transaction.
SANTA ANA, CALIF. — Goodwill Industries of Orange County has leased 37,228 square feet of industrial space in Santa Ana. The property is located at 2250 S. Yale Street. It will serve as the company’s e-commerce and retail warehousing center. Goodwill was represented by JLL's Matt Christensen. The landlord, Skeffington Enterprises, was represented by CBRE.
FORT LAUDERDALE, FLA. — Stiles Residential Group and The Rockefeller Group have begun construction on a new 254-unit high-rise apartment building. The property, located at 215 S.E. 8th Ave., will be the first luxury high-rise apartment building in Fort Lauderdale. In addition to views of downtown Fort Lauderdale and the Atlantic Ocean, the new property will feature a fitness facility, a bar and entertainment kitchen, elevated pool deck with cabanas, grill area, hot tub, pet spa, dog park and a limited number of private garages. Units at the property will range from one- to three-bedroom floor plans spanning from 750 to 2,450 square feet. Construction is slated to wrap up in December 2015.
HIXSON, TENN. — Carolina Holdings Inc., a Greenville, South Carolina-based retail developer, has delivered and opened a new Verizon Wireless store in Hixson, about nine miles northeast of Chattanooga. Carolina Holdings and Verizon are jointly pursuing LEED certification for the new 4,585-square-foot property. The project team includes architect McMillan Pazdan Smith, civil engineer LeCraw Engineering and general contractor Dooley Mack Constructors. Certus Bank provided construction financing for the project.
CHARLOTTE, N.C. — Bojangles’ Restaurants Inc. has opened its 600th restaurant, located on Galleria Boulevard off Monroe Road in Charlotte. The Charlotte-based chicken chain expects to open 55 to 60 locations throughout the Southeast this year, adding new restaurants in more than 25 market areas including Atlanta; Birmingham, Alabama; Orlando; Richmond, Virginia; and Nashville, Knoxville and Tri-Cities, Tennessee. This year’s expansion is part of Bojangles’ long-term growth plan to have 1,000 locations open by 2020.
GAINESVILLE, FLA. — CA Student Living has broken ground on NEXT LEVEL GAINESVILLE with joint venture partner Fields Holdings near the University of Florida. The property will contain approximately 170 apartments and about 600 bedrooms. NEXT LEVEL will be a heavily amentized, urban-infill project with a podium-level swimming pool, hot tub, fitness and tanning facilities and both private and group study lounges. The fully furnished apartments will feature modern, open floor plans, stainless steel appliances, quartz countertops, European cabinetry, flat-screen televisions and closet organizers. Holchauser Blatter Architects of Santa Barbara, California designed the property. The general contractor, Beal Derkenne Construction (BDC), has built numerous projects for CA Student Living, including NEXT LEVEL TUCSON, opening in August near the University of Arizona.
TALLAHASSEE, FLA. — Parkland Development Corp. has opened Forum at Tallahassee, a 785-bed luxury student housing community designed by Forum Architects near Florida State University. Forum at Tallahassee’s amenities include an 11,000-square-foot outdoor pool deck and recreation area that features a beach entry pool, gas grills, a large spa and cabana lounges. The community’s clubhouse incorporates indoor basketball and volleyball courts with bleacher seating, a two-story fitness center with TechnoGym equipment, yoga room and three tanning beds. In addition, students have access to a full-service concierge desk, high-tech business center with Macs and PCs, multiple study rooms, complimentary high-speed internet, a Wii gaming room with dual life-size screens, coffee lounge, media center and a pet park with pet washing stations. The fully gated community offers elevator access to one-, two-, and four-bedroom floor plans. Unit interiors include granite countertops, 42-inch upper cabinets, nine-foot ceilings, crown molding, stainless steel appliances and wood-grain plank-style flooring. In addition, apartment homes include 50-inch flat screen TV’s, in-unit laundry rooms with full-size washer and dryers, and covered patios and walk-in closets in select units. Greystar manages the community and offers roommate matching.