PASADENA, TEXAS — Cushman & Wakefield has arranged a 185,000-square-foot flex space lease in the northern Houston suburb of Pasadena for Sunbelt Supply Co., a provider of valves and valve automation systems serving the petrochemical, refinery, power, wastewater and mining industries. The tenant, a subsidiary of Shale-Inland Holdings LLC, will occupy the building located at 3750 Highway 225 within the three-building Carson Commerce Center development. The structure includes 24,000 square feet of office space, a 15,000-square-foot automation facility and warehouse space with 30-foot clear heights. James Foreman, Stephen Schneidau and Beau Kaleel of Cushman & Wakefield represented Sunbelt Supply in the negotiations, while property owner The Carson Companies was represented in-house by Dan Zoch.
Property Type
TOMBALL, TEXAS — A joint venture between CAF Capital Partners and The Rainier Companies has acquired Oaks at Northpointe, a 246-unit multifamily property in the Houston suburb of Tomball. Completed last year, the garden-style, Class A complex includes 235,400 rentable square feet, as well as amenities such as a swimming pool and spa, game room, fitness center, dog park and internet café. Residences feature granite countertops, stainless steel appliances and wood flooring. The acquisition marks the third venture between CAF and Rainier.
SAN ANTONIO — Robert Faust Mortgage Co. has arranged a $6.6 million refinancing loan for Rigsby Shopping Center, a 64,200-square-foot retail property in San Antonio. Constructed in 2002, the center is located on more than five acres at 2000 Loop 410, in close proximity to Super Walmart. Tenants of the property include IHOP, Dollar Tree, Sally Beauty and Rue 21. Robert Faust of Robert Faust Mortgage Co. arranged the loan within two weeks on behalf of the property owner, Rigsby Road Shopping Center LP, through a private money lender.
RICHMOND, CALIF. — KTR Capital Partners and Sponsor Properties have acquired Pinole Point, a master-planned industrial park in Richmond, for an undisclosed sum. The three-building park is located atthe intersection of Atlas Road and Giant Highway near the Bay Area. It allows for more than 515,000 square feet of Class A warehouse/distribution and manufacturing space. The land is fully entitled and ready for construction. The groundbreaking is scheduled for this summer. Pinole Point Phase I is currently 100 percent leased to tenants like Restoration Hardware, Serena & Lily, Broadline Medical, International Delicacies and Bio-Rad Laboratories. Sponsor Properties and KTR were brought together by Preferred Capital Advisors. Greig Lagomarsino of Colliers International’s Oakland office represented both the buyer and seller, Sares-Regis Group, in this transaction. Todd Severson of the same firm assisted with this transaction. Lagomarsino and Severson will serve as the park’s exclusive leasing agents.
HUNTINGTON BEACH, CALIF. — Mitsubishi Electric Automotive has signed a 10-year lease for a 167,778-square-foot industrial building in Huntington Beach. The space is located at 5800 Skylab Road near the 405, 22 and 605 freeways. This is the second largest (by square footage) new lease to close in West Orange County in the past four years, according to CBRE, which represented the landlord, Morgan Stanley, in this transaction. The space will serve as Mitsubishi Electric Automotive’s regional headquarters for the company’s United States West Coast manufacturing and distribution. It will allow Mitsubishi to consolidate three of its Southern California facilities, while providing an opportunity for expansion over the next 10 years. Mitsubishi Electric Automotive was represented by Louis Tomaselli and Mitch Lundquist of JLL Orange County.CBRE’s Steve Young, Rick McGeagh and Bob Goodmanson represented Morgan Stanley.
CENTENNIAL, COLO. — MIG Real Estate has acquired the 168-unit Copper Terrace Apartments in Centennial for an undisclosed sum. The community is located at 6550 South Dayton Street in the Denver Technological Center submarket, which is just 15 miles south of Downtown Denver. It is also situated near the Arapahoe at Village Center FasTracks Station, Village Shops at the Landmark and the Park Meadows Mall. This is MIG’s sixth multifamily acquisition in Colorado. MIG Real Estate represented itself in this transaction, while the unnamed seller was represented by Doug Andrews, Jeff Hawks and Terrance Hunt of ARA Real Estate Investment Services. Alliance Residential will manage the property.
TEMECULA, CALIF. — Holiday Inn Express Temecula has received an $11.3-million SBA 504 loan. The hotel is located at 27660 Jefferson Ave. near Temecula’s wine country. The 20-year, fixed-rate loan was used to purchase the hotel. The financing will also allow the franchise owners to make interior upgrades and retain working capital. The loan was provided by TMC Financing. The lender was BBCN Bank. The sellers, Sapna and Sharad Khandwala of the Alps Group of Hotels, own and operate five hotels. Alps Group is also an SBA 504 client of TMC Financing.
NEWNAN, GA. — Batson-Cook Construction has begun construction on a new $48 million addition to the Cancer Treatment Centers of America (CTCA) at Southeastern Regional Medical Center in Newnan. The addition will include 121,000 square feet of new space and 30,000 square feet of remodeled space. Batson-Cook, which delivered Southeastern Regional Medical Center in 2012, will build CTCA’s addition in four phases: two vertical additions, the addition of 25 patient rooms and a penthouse and a four-story addition. A one-story surgery expansion is also underway at CTCA.
HOMEWOOD, ALA. — Hendricks-Berkadia has arranged the sales of the 150-unit Knoll Crest and the adjacent 127-unit Olympia Village, two apartment communities in Homewood. The total sales price was approximately $11.7 million. David Oakley of Hendricks-Berkadia represented the seller, Birmingham, Ala.-based Knoll Crest Partners LLC/Olympia Partners LLC, in the transaction. As part of the transaction, the buyer, New Jersey-based Knoll Crest Holding Co. LLC/Olympia Partners LLC, assumed two existing Fannie Mae loans totaling approximately $9.9 million. The buyer also plans to renovate both properties.
CHARLOTTE, N.C. — Trinity Partners has arranged the $11.1 million sale of the 200,000-square-foot Arrowridge Business Park in southwest Charlotte. The property features four flex buildings located at 8107, 8227, 8301 and 8041 Arrowridge Blvd. The property is currently 83 percent leased to tenants such as Hobart Corp., Bonsal American, Sears Home Improvement, CentiMark Corp. and Miller Electric Co. Dunn Mileham of Trinity Partners represented the seller, a Florida-based investor group, in the transaction. The buyer is Virginia-based Medalist Properties.