IRVING, TEXAS — Marcus & Millichap has brokered the sale of Falcon Apartments, a 33-unit, garden-style multifamily community in Irving, situated approximately 10 miles west of downtown Dallas. The property, which was originally constructed in 1961, was 95 percent occupied at the time of the sale. Clint Roberts of Marcus & Millichap’s Fort Worth office represented the seller, Delicias Investments Inc., and also secured the buyer, a local private investor.
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PASADENA, TEXAS — Newmark Grubb Knight Frank has arranged a 24,000-square-foot build-to-suit lease for Holman Boiler Works Inc. at Bayport North Industrial Park II in Pasadena, a southeastern suburb of Houston. Rob Stillwell of NGKF’s Houston office represented the tenant, a boiler solutions provider headquartered in Dallas and in business for 65 years. Holman’s new facility will be located at Underwood Road and New Decade Road within the complex, which is near the intersection of Highway 146 and Fairmont Pkwy. B. Kelley Parker III of Cushman & Wakefield represented the property owner and landlord, a Texas limited partnership.
PASADENA, TEXAS — Moody Rambin has arranged an industrial lease of 10,500 square feet at the Jasmine Warehouse Project in Pasadena, about 15 miles southeast of Houston. FlexiPlus LLC, a packaging and container company, signed on to be the newest tenant at the 1905 Jasmine Drive facility. Dan Nguyen and Doyle Toups of Moody Rambin represented the landlord, V & W Leasing, in the negotiations.
SANTA MONICA, CALIF. — It’Sugar has signed an eight-year lease for 2,250 square feet of space on Third Street in Downtown Santa Monica. The space is located at 1427 Third Street. The lease is valued at $6.2 million, or $312 per square foot, a record-breaking high in this shopping district. The global candy and gift retailer will occupy the space in March 2014. It’Sugar was represented by Jeremy Ezra of RKF. The landlord, Promenade Enterprises LP, was represented by Randy Starr of Avison Young.
PALMDALE, CALIF. – The 626-unit National Storage Center in Palmdale has sold to an unnamed buyer for $5.7 million. The 78,630-square-foot, Class A facility is located at 3305 East Palmdale Blvd. The seller, a partnership, was represented by Christopher R. Secreto and Nicholas Walker of Marcus & Millichap.
TORRANCE, CALIF. — LivingSocial has leased 19,311 square feet at Pacific Center in Torrance. The center is located at 21250 Hawthorne Blvd. Other notable tenants at the center include Bank of America, Wells Fargo Insurance and Morgan Stanley Smith Barney. The landlord, Bixby Land Company, was represented by Eric Lastition, Doug Brawn and Thacher Goodwin of Colliers International. They are the exclusive leasing agents for the property.
LOS ANGELES — Passco Companies has announced that the Promenade at Howard Hughes Center in Los Angeles will undergo a repositioning. The Promenade is located at 6081 Center Drive in the Silicon Beach area of West Los Angeles. Dave & Buster’s and Buffalo Wild Wings are set to open at the center later this year, while Cinemark plans to enhance its recently purchased Rave Cinemas.
CARLSBAD, CALIF. — Drawbridge Realty Trust has purchased Pacific View Corporate Center, an 80,862-square-foot office building in Carlsbad for $22.2 million. The Class A center is located at 5759 Fleet Street in the Carlsbad Ranch area. It is fully leased to Synteract and RF Micro Devices. Drawbridge was represented by Rick Reeder, Joe Anderson and Dennis Visser of Cassidy Turley’s North San Diego office. The seller, TA Realty Associates, was represented by Jeff Cole, Ed Hernandez, Michael Roberts and Brunson Howard of Cushman & Wakefield.
SANTA FE SPRINGS, CALIF. — L.A. Specialty Produce has signed a 270,000-square-foot lease in Santa Fe Springs. The wholesale produce, dairy and specialty foods distributor will expand its headquarters and warehouse operations by 82,000 square feet. The facility is located at 13527 Orden Drive within the Golden Springs Business Park. L.A. Specialty was represented by John McMillan and Jeff Sanita of Cushman & Wakefield. The landlord, Thrifty Oil, an affiliate of Golden Springs Development Co., was represented by Clyde Stauff and Steve Calhoun of Colliers.
GREENSBORO, N.C. AND NASHVILLE, TENN. — Landmark Apartment Trust of America Inc., a multifamily REIT based in Richmond, Va., has purchased two apartment communities in two separate transactions for $37 million. The apartment communities include the 240-unit Landmark at Battleground Park, formerly known as Mission Battleground Park, in Greensboro and the 360-unit Landmark at Glenview Reserve, formerly known as Mission Briley Parkway, in Nashville. The apartment communities have an average 95 percent occupancy.