NEWARK, CALIF. — Hilton Worldwide and DoubleTree by Hilton have opened the 315-room DoubleTree by Hilton Newark-Fremont in the East Bay. The hotel is located at 39900 Balentine Drive. It is situated off Interstate 880 in the East Bay/Silicon Valley area between Oakland and San Jose. The property is owned by SM Broadway Corporation and managed by Hotel Managers Group.
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DENVER – A 1.1-acre site at the corner of 18th and Wewatta in the Central Platte Valley area near Denver has sold to Portman Holdings for $10.8 million. The site is across the street from the newly renovated Union Station, which will open this July. Portman is partnering with Hensel Phelps Development Group to develop 200,000 square feet of office space, which will include retail and hotel components.
NEWPORT BEACH, CALIF. — Buchanan Street Partners has acquired WorkScapes, an 82,660-square-foot creative office campus in Newport Beach, for $14.5 million. The six-building campus is located at 20321-20371 Irvine Ave. Notable tenants include the Newport Beach Chamber of Commerce, Life Generations Health Care and P11 Creative Inc. The seller, Hackman Capital Partners, was in the process of converting the campus into a creative office space at the time of sale. Buchanan plans to complete the repositioning. Hackman was represented by CBRE’s Gary Stache, Pat Scruggs and Anthony DeLorenzo. The firm’s Simon Dillon, Justin Hill and Jason Katz will also handle the campus’ leasing efforts.
HOLLYWOOD, CALIF. — Catalina Bar & Grill has signed a 15-year lease for its 9,000-square-foot space in Hollywood. The lease renewal is valued at $5.5 million. The space is located at 6725 Sunset Blvd. It is situated on the ground floor of a 73,000-square-foot creative office building that houses several music industry tenants, including Native Instruments and A.M. Only. The dining and entertainment venue was represented by Bruce Stratton of Entertainment Real Estate Services. The landlord, Crown Sunset Associates LLC, was represented by John Tronson and Christopher Bonbright of Avison Young.
JACKSONVILLE, FLA. — CBRE has arranged a $49.8 million acquisition loan for Villages of Baymeadows, a 904-unit apartment community at 7915 Baymeadows Circle E. in Jacksonville. The community, built in 1972, offers one-, two-, three- and four-bedroom layouts that average 1,199 square feet. The property’s amenity package includes a clubhouse, nine resort-style swimming pools, four lakes, a fitness center, volleyball court, playground and private garages. Charles Foschini, Christian Lee and Christopher Apone of CBRE arranged the five-year loan through Wells Fargo of New York on behalf of the borrower, Norfolk, Va.-based Harbor Group International.
LOUISVILLE, KY. — Dermody Properties has commenced construction on LogistiCenter Louisville, a 315,147-square-foot distribution facility in the Renaissance South Business Park near Louisville International Airport. The property will feature 32-foot clear heights, 60 dock doors, four drive-in doors, parking for 336 cars and 73 trailer stalls. Dermody Properties will develop the project in partnership with PCCP LLC. Construction is expected to wrap up in September.
SPRING HILL, TENN. — Steadfast Apartment REIT has acquired its first community, the 176-unit Villages at Spring Hill in Spring Hill, for $14.2 million. The apartment community, built in 1994, offers one- and two-bedroom units and three-bedroom townhomes. The units average 916 square feet and the average rental rate is $808. Located 40 minutes south of Nashville, the community offers amenities such as a pool, tennis courts, laundry facilities, a picnic and grill area and a sand volleyball court.
FOREST PARK AND CARTERSVILLE, GA. — Lee & Associates has brokered the sale of two industrial properties in Georgia for a combined purchase price of approximately $7.3 million. The two projects included 13-16 Overmeyer Way in Forest Park, a 242,000-square-foot, four-building industrial complex; and a 55,000-square-foot flex property at 774 GA Highway 320 in Cartersville. Rick Tumlin of Lee & Associates, along with Tom Ellis of Atlanta South Commercial Properties, represented the seller, Charlotte, N.C.-based Columbus Nova, in the Forest Park transaction. Mike Sutter of Lee & Associates represented the buyer, Sealy & Co., which has retained Sutter and Tumlin to market the property. Tumlin and Sutter also represented the buyer of the Cartersville facility, Road Tested Parts. Tom Sims of Ackerman & Co. represented the seller.
CULLODEN, W.VA. — Greystone has arranged a $11.4 million loan to refinance Hidden Brook Apartments in Culloden. The 168-unit apartment community was built in four phases from 2008 to 2013. Andrew Ellis of Greystone’s Rockville, Md., office arranged the 10-year, Fannie Mae DUS loan with a 30-year amortization schedule.
BOLINGBROOK, ILL. — NAI Hiffman has arranged a industrial lease renewal and expansion for Walgreens in the Chicago suburb of Bolingbrook that will bring the tenant’s total space to 258,560 square feet. The facility is located at 370 Crossroads Parkway, in proximity to I-55 and I-355. Dan Leahy and Adam Roth of NAI Hiffman represented the property owner and landlord, Duke Realty, in the negotiations. Kris Bjorson of JLL represented Walgreens.