PONCA CITY, OKLA. — Investment advisory brokerage firm ARA has brokered the sale of Meadowbrook Village, a 130-site manufactured home development in Ponca City, located about 40 miles north of Stillwater. Constructed in the 1970s, Meadowbrook Village features an on-site office, laundry facility and storm shelter. The all-age community, situated in proximity to major area employers including a ConocoPhillips refinery, is serviced by municipal utilities. A local owner-operator purchased the distressed asset out of receivership. Andrew Shih, Brian Vita and Todd Fletcher of ARA represented the seller in the all-cash transaction.
Property Type
HOUSTON — NAI Houston has arranged a 29,306-square-foot warehouse lease in Houston’s South Inner Loop submarket for Rud and Pickarts Marketing Co. Located at 6006 Griggs Road, the facility is in close proximity to the interchange of I-610 and I-45. The tenant is a provider of marketing services for manufacturers of industrial, retail and food packaging and food service and janitorial supplies. Darren O’Conor of NAI Houston represented Rud and Pickarts in the negotiations. Matteson Hamilton and Jeremy Lumbreras of Stream Realty Partners represented the unnamed landlord.
PHOENIX – A 14,490-square-foot property in Phoenix that is net leased to Walgreens has sold to an unnamed buyer for $7.9 million. The property is located at 6838 North 7th Street. An acquisition loan with a 10-year term, 25-year amortization schedule and 4.1 percent rate was structured by Josh Sciotto of Marcus & Millichap Capital Corporation’s Phoenix office. The LLC seller was represented by Mark Ruble and Jamie Medress of Marcus & Millichap’s Phoenix office.
OAKLAND, CALIF. — American Indian Model Schools (AIMS) has received a $4.5-million acquisition loan for a 41,000-square-foot office building in Oakland that houses the school’s main campus. American Indian Charter School II is located at 171 12th Street. This is AIMS’ largest of its three charter schools within the Oakland area. It contains more than 650 students in kindergarten through 8th grade. The loan was provided by Eagle Group Finance. AIMS was represented by Gilda Rivera of George Smith Partners in the sales transaction. The seller was not named.
ONTARIO, CALIF. – A major pet foods company has signed a 15-year lease for a 108,703-square-foot manufacturing and distribution building in Ontario. The lease is valued at $5.8 million. It is located at 2400 E. Francis Street next to Ontario International Airport. The pet foods company was represented by John Pomer of Newmark Grubb Knight & Frank. The landlord, Hager Pacific Properties, was represented by Mark Zorn and Tal Siglar of Colliers’ Ontario office.
DENVER – A 37-unit apartment building in Denver has sold to JMDR, LLC, for $3.9 million. The community is located at 2860 W 32nd Ave. It was built in 1961. The Calame Lewallen Team at Pinnacle Real Estate Advisors, LLC, represented both the buyer and the seller, The Garden, LLC, in this transaction.
LOS ANGELES — Gabe Kadosh has joined Colliers International’s Downtown Los Angeles office as a vice president. He will specialize in the leasing of retail properties, landlord and tenant representation, and in investment sales in the Greater Los Angeles area. Kadosh will focus on building a mixed-use retail leasing division that will target residential environments. He previously opened the Los Angeles for Stream Realty, where he led the company’s retail division.
LANDOVER, MD. — Capital Advisors has arranged $23.4 million in acquisition financing for The Library of Congress Annex, a 216,000-square-foot specialized industrial facility located at 1701 Brightseat Road in Landover, just outside Washington, D.C. The Library of Congress uses the facility to store rare books, valuable historical documents and archival records. Cooper Willis of Capital Advisors’ Charlotte, N.C., office arranged the 10-year loan with a 30-year amortization schedule through a CMBS lender. The loan features 24 months of interest-only payments.
ATLANTA — Bell Partners Inc. has acquired Heights at Stillhouse, a 302-unit apartment community in northwest Atlanta. Worthing Cos. developed the apartment community, which will be renamed Bell Vinings, in 2013. The project is LEED Silver certified and features resort-style saltwater pools, courtyards with fire pits, outdoor grilling stations, business centers and resident lounges. The units range from one-, two- and three-bedroom apartments averaging 1,085 square feet. The property was 95 percent occupied at the time of sale.
WEST PALM BEACH, FLA. — Avison Young has arranged the sale of a 34,500-square-foot industrial property, located at 1711 Upland Road in West Palm Beach. Flagler Systems Management Inc. purchased the asset for $2.1 million. The property is located blocks away from Palm Beach International Airport. Michael Walters of Avison Young represented the seller, Claire Harrington, in the transaction.