PLANO, TEXAS — SHOP Cos. Investment Sales has arranged the sale of Haggar Square, a 53,750-square-foot shopping center in Plano, roughly 30 minutes north of downtown Dallas. The REO property, located at the intersection of Texas State Highway 121 and Ohio Road, was completely vacant at the time of the sale. The buyer, a private investor from California, purchased the asset for an undisclosed price.
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IRVING, TEXAS — Marcus & Millichap has brokered the sale of La Costa Townhomes, an 88-unit apartment community located at 4303 Mariposa Drive in the Dallas suburb of Irving. Al Silva of Marcus & Millichap’s Fort Worth office represented the seller, a local private investor, in the transaction. Silva also secured the Dallas-based buyer.
HOUSTON — Boyd Commercial/CORFAC International has arranged a 25,091-square-foot lease for industrial space at 2040 W. Sam Houston Parkway N. in Houston. Alexander Reilly and Bo Pettit of Boyd Commercial/CORFAC represented the landlord, CH Realty V Lonestar, in the lease transaction. Ken Willis of Avison Young represented the tenant, Tech Pharmacy.
PLEASANTON, CALIF. — Swift Realty has acquired California Center, a 1-million-square-foot office campus in Pleasanton. The campus was acquired for a reported $155 million. The six-building property is located at 4400 Rosewood Drive in the Hacienda Business Park. California Center features a state-of-the-art conference center, a 600-seat cafeteria and a fitness center. It also contains an 8.4-acre site that is fully entitled for 305 residential units. The seller was RREEF. The transaction was executed by JLL’s Rob Hielscher, Michel Seifer and Aaron Herter.
FONTANA, CALIF. — D.R. Horton has acquired 622 lots in three separate residential developments throughout the Inland Empire for $62 million. The deal contains a total of 246 finished lots, including 178 lots at Mission Estates in Jurupa Valley and 68 lots at Rosena Ranch in the Lytle Creek area of San Bernardino County. It also includes 376 lots that are fully entitled but undeveloped at Bella Strada in Fontana. The seller was Foremost Communities and its related entities. Starwood Capital Group Global acted as Foremost’s financial partner on two of the properties. Foremost has nearly 7,800 lots across Southern California under ownership or management. Foremost was represented by Province West and Land Advisors. Tom Dallape and Norm Scheel of The Hoffman Company also assisted on this transaction.
SAN FRANCISCO — Merchants Exchange Building, a 241,961-square-foot office building in San Francisco, has received $61 million in financing. The building is located at 465 California Street. Merchants Exchange Building was built in 1903. It is one of the only trophy buildings to survive the 1906 earthquake in San Francisco. Financing was arranged by Jeffrey Weidell and Andrew Slaton of NorthMarq Capital's San Francisco regional office. The duo had initially arranged about $47.5 million in financing, before advancing an additional $13.5 million. The advance will mature in 11 years, along with the existing debt.
SAN DIEGO – The 150-unit Vista Lane Apartments in the San Diego submarket of Chula Vista has sold to the Conrad Prebys Trust for $19.4 million. The community is located at 1440 Second Ave. near Broadway, the area’s dominant retail corridor. Christopher J. Zorbas of Marcus & Millichap’s San Diego office represented both the buyer and the seller, the Kreutzkamp Revocable 2000 Trust, in this transaction.
IRVINE, CALIF. – Arbonne has renewed its lease for a 146,482-square-foot building in Irvine that serves as its world headquarters. The building is located at 9400 Jeronimo Ave. It is part of a four-building campus. Arbonne has resided at the building since 2000. The skincare products company also maintains offices in Canada, the United Kingdom and Australia. Its new 60-month lease commences this November. The company was represented by Michael Props, Royce Sharf and Jeff Cannon of Savills Studley’s Orange County office. The landlord, The Irvine Company, was represented in-house.
MIAMI BEACH, FLA. — Plaza Construction has begun building two luxury condominium communities in South Beach for The Related Group. The properties include the $187 million One Ocean and the $88 million Marea condominiums. Enrique Norten of Ten Arquitectos and The Sieger Suarez Architectural Partnership designed the seven-story, 275,141-square-foot One Ocean. Sieger Suarez designed the six-story, 190,654-square-foot Marea community as well. Working on both projects, Enzo Enea is the landscape architect and Yabu Pushelberg is the interior designer. The two condominium projects are slated for completion in 2015. Plaza Construction is the general contractor on a total of four projects for The Related Group totaling $498 million. The other two communities include the $118 million, 42-story Icon Bay in Miami’s Biscayne Corridor and the $105 million, 42-story Millecento Residences by Pininfarina.
ANNAPOLIS JUNCTION, MD. — Somerset Construction Co. and OA Partners have broken ground on Annapolis Junction Town Center, a mixed-use, transit-oriented development in Annapolis Junction, equidistant from Baltimore and Washington, D.C. The $180 million property will feature 100,000 square feet of Class A office space, 416 luxury apartment residences, a 150-room hotel, 17,250 square feet of retail space and a new transit station for the Maryland Rail Commuter line featuring a 700-space parking garage. The MARC station and parking garage will open in the fall of this year, and the retail, office, hotel and apartment components will open in 2016. The project team includes office developer Corporate Office Properties Trust, residential and retail developer Southern Management Corp. and general contractor Whiting-Turner Construction Co.