MERRIMACK, N.H. — Calkain Companies has arranged the sale of a two-building, net-leased multi-tenant property in Merrimack. A private buyer acquired the property for $5.3 million. The property is an outparcel to Merrimack Premium Outlets and located near Fidelity Investments’ corporate campus. Tenants of the newly constructed four-tenant center include Starbucks Coffee, Digital Federal Credit Union and Qdoba Mexican Grille. Stanley Wyrwicz of Calkain’s Boston office represented the undisclosed seller in the transaction.
Property Type
BOSTON — CBRE/New England has brokered the sale of 95 Border Street located on 1.32 acres in East Boston. Sisson Realty Trust sold the 23,000-square-foot industrial facility to Neighborhood of Affordable Housing (NOAH) for $1.6 million. NOAH plans to redevelop the site into Coppersmith Village, a transit-oriented residential community. Within walking distance to the MBTA Maverick Station and a planned water taxi station, the property will feature 56 rental apartments and 3,000 square feet of retail space, which is slated for restaurant use. Mark Reardon, David Corkey and Jake Borden of CBRE/New England represented the seller in the transaction.
TULSA, OKLA. — The RADCO Cos. has purchased Southern Slope, a 142-unit apartment community in Tulsa’s Jenks submarket. Using a mix of bridge debt and private equity, the Atlanta-based multifamily investor purchased the asset for roughly $6 million from the lender seller in an off-market transaction. RADCO plans to implement interior upgrades, as well as overhaul the property’s exterior and amenities. As part Southern Slope’s overhaul, the property will be renamed Ashford Ridge. It is RADCO’s second apartment community in Tulsa. Raymond Lord and Benjamin Davis of NAI Commercial Properties brokered the transaction.
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.
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.