NEW YORK CITY — Capital One Specialty Healthcare Real Estate, part of Capital One Bank’s Commercial Real Estate Group, has provided a $24.2 million HUD 232/223(a)(7) loan to refinance an assisted living facility in Queens’ Flushing neighborhood. The 154-unit facility offers 280 beds and a full array of skilling nursing services and amenities, including rehabilitation therapy, hospice and palliative care, as well a beautician/barber and recreational activities. Joshua Rosen of Capital One’s Chicago office originated the financing.
Property Type
HOUSTON — Cadence McShane Construction will build Phase I of the Airtex Commerce Center industrial park on behalf of co-developers Molto Properties and Generational Commercial Properties. The 166,250-square-foot space is located at 431 E. Airtex Drive in Houston. The project is just east of Interstate 45 and three miles north of Beltway 8 with access to George Bush Intercontinental Airport. Powers Brown Architecture is the project’s architect.
HOUSTON — Dairy Ashford Village, a 43,751-square-foot retail center at 1570 S. Dairy Ashford Road in Houston, has been sold to a Houston-based private equity group. The center is 89 percent leased. Christopher Winters and John Parsley of Colliers International represented the seller, N.J.G. & M. Texas. Keller Williams represented the buyer, DAV Entrepreneurs. The property is located next to a Kroger-anchored shopping center on Briar Forest Drive.
ANGLETON, TEXAS — The Angleton City Council has approved plans for Angelton 288 industrial park, a 35-acre site off Highway 288 at CR 341. Plans call for an 18,000-square-foot and a 24,000-square-foot building ready for occupancy in the first quarter of 2015. The park, located 45 minutes south of Houston, will span 400,000 square feet when finished. The city council also approved the expansion of utilities in the area. Development costs are expected to range from $15 million to $18 million.
TERRELL, TEXAS — Whataburger has leased a 41,000-square-foot pad site at the Terrell Market Center. The site is located at the northeast corner of FM 148 and Crossroads Parkway in Terrell, 40 minutes east of Dallas. Opening is scheduled for summer 2015. W. Thurston Witt, Jr. of UCR Dallas represented Whataburger, and Andrew Lehner, also with UCR, represented the developer, Oakridge Investments.
HESPERIA, CALIF. – A 66,389-square-foot retail building in Hesperia that is occupied by Kmart has sold to a private California real estate investment company for $5.2 million. The building is located at 16968 Main Street within the Midtown Square Shopping Center. The center is also anchored by Stater Bros. and Orchard Supply Hardware. The buyer was represented by David Chasin at Pegasus Investments. The seller, The Burokas Family Trust, was represented by Brad Umansky and Frank Vora of Progressive Real Estate Partners.
MADERA, CALIF. – A 4,558-square-foot retail property in Madera that is net leased to IHOP has sold to an unnamed buyer for $2.4 million. The property is located at 2201 West Cleveland Ave. IHOP has occupied this space since it was originally constructed in 1995. Steve Sauter of Marcus & Millichap’s Palo Alto office represented the seller, a private investor.
SANTA MONICA, CALIF. – An eight-unit apartment building in Santa Monica has sold to a local private investor for $2 million. The community is located at 1811 19th Street, near Michigan Avenue. It was built in 1960. The buyer was represented by Wes Wellman of Wellman Realty Company. The sellers, two Los Angeles-based family trusts, were represented by Kimberly Roberts Stepp of Charles Dunn Company.
PHOENIX – A 28,520-square-foot industrial building in Phoenix has sold to Aim Wholesale for $2 million. The building is located at 2757 E. Chambers Street in the Southern Gardens Industrial Building. It had been occupied by plumbing products distributor Bobier Sales since 2006. Aim Wholesale will be expanding from its former 19,000-square-foot space. The purchasing entity was Syllar Enterprises. The seller was 2757 E Chambers LLC. Steve Bodeman of DAUM’s Phoenix office represented both parties in this transaction.
LOS ALTOS, CALIF. -Jos. A. Bank has signed a 10-year lease for 4,087 square feet at the Colonnade mixed-use development in Los Altos. The space is located at 4750 El Camino Real in Silicon Valley. The new store will sit adjacent to Whole Foods and directly across from San Antonio Shopping Center. Colonnade is being developed by Sares Regis Group of Northern California and Pritzker Realty Group. Jos. A. Bank was represented by Laura Tinetti of SRS Real Estate Partners. Sares Regis was represented by Randol Mackley and Steve Gazzera of the same firm.