ENFIELD, CONN. — Enfield Distribution Center LLC has purchased a 235,000-square-foot industrial building at 35 Manning Road in Enfield from Best Realty Associates for $3.5 million. The building is a former Hallmark Cards distribution center. Nicholas Morizio of Colliers International represented the seller and buyer in the transaction.
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AUSTIN, TEXAS — Embrey Partners has opened Escape at Four Points, a 344-unit multifamily property in west Austin. The garden-style community includes one- to three-bedroom apartments ranging from 700 to 1,355 square feet, as well as a swimming pool, fitness center, resident lounge, coffee bar and game room. Located at 11210 FM 2222, the Class A complex is in proximity to Lake Travis. Embrey Partners, along with equity partners Case Pomeroy Properties and Six Pines Realty LLC, developed the property. Frost Bank provided financing for the project. Embrey Management Services manages the complex.
FORT WORTH, TEXAS — Trademark Property Co. will expand its WestBend mixed-use development in Fort Worth with a new 81,150-square-foot building. The facility will include 23,500 square feet of retail space pre-leased to Fresh Market, and 57,650 square feet of Class A office space. Trademark has demolished the existing parking garage on the site, which is located on the southeast corner of WestBend, and will begin construction of the new structure this summer. Completion is slated for 2015, with Fresh Market opening shortly afterwards. Trademark also announced the lease of 3,950 square feet elsewhere within the WestBend development to Grimaldi’s Pizzeria.
COMFORT, TEXAS — Dougherty Mortgage LLC has arranged a $2.6 million loan for the refinancing of Guadalupe Crossing, a 68-unit multifamily property in Comfort, a city about 45 miles northwest of San Antonio. The loan includes a term of 10 years. Located at 580 Sunflower Lane, the community offers one- to three-bedroom apartments, as well as amenities such as a swimming pool, clubhouse, fitness center and laundry facility. The Dallas office of Dougherty Mortgage secured the loan on behalf of the borrower, Comfort Guadalupe Crossing Apartments LP.
OKLAHOMA CITY — Quantum Real Estate Advisors Inc. has brokered the $1.4 million sale of an 8,000-square-foot retail facility occupied by Family Dollar in Oklahoma City. The tenant had a full 10 years remaining on an initial 10-year net lease at the time of sale. Jordan Kaufman of Quantum represented the seller, a Houston-based developer, in the transaction. Chad Firsel, also of Quantum, represented the buyer, a California-based private investment fund.
PLANO, TEXAS — Bright Realty has arranged a 26,988-square-foot office lease in Plano for banking services provider HP Locate LLC. The tenant will occupy an entire floor at the Lincoln Legacy One building, which is located at 6860 N. Dallas Parkway within the larger Legacy Town Center complex. Completed in 2006, Lincoln Legacy One totals 207,834 rentable square feet. Shawn Hall of Bright Realty represented HP Locate in the negotiations.
ALISO VIEJO, CALIF. – A 25,960-square-foot property in Aliso Viejo that is triple-net leased to PetSmart has sold to RPM Catalina & Tanque Verde LLC for $8.1 million. The building is located at 26761 Aliso Creek Road within the Aliso Viejo Town Center. RPM Catalina was represented by Dennis Vaccaro of Faris Lee Investments. Vaccaro also represented the seller, a local partnership that had owned the property since it was constructed, along with Nicholas Coo.
PHOENIX – A 58,120-square-foot building in Phoenix that is fully leased to Universal Technical Institute has sold to Hyperion Fund L.P. for $6.3 million. The Class B building is located at 2844 West Deer Valley Road and 2837 West Louise Drive in the Deer Valley submarket. The new owner plans to hold the property and maintain the current tenant, which provides technical training for auto mechanics, marine technicians and NASCAR techs. Hyperion was represented by Eric Wichterman and Mike Coove of Cassidy Turley. The seller was City Park, LLC, a company formed by Cutler Commercial.
SALINAS, CALIF. – A 22,500-square-foot retail building in Salinas that is occupied by CVS has sold to Robert Miles Living Trust for $5.2 million. The building is located at 662 E. Boronda. The trust plans to hold the property as an investment. It was represented by Matt Weaver, Al Apuzzo and Patrick Miller of Lee & Associates North County San Diego. The seller, LD&B Investment LLC, was represented by Brian Bethea of NAI Capital.
SAN DIEGO – The seven-unit Casa Rosada Apartments in the San Diego submarket of La Jolla has sold to La Jolla Casa Rosada LLC for $2.2 million. The community is located at 6241-6253 La Jolla Blvd. in the city’s Upper Hermosa neighborhood. The LLC was represented by Gary B. Urtiaga of Apartment Realty Group. The seller, the Estate of Eileen Gambs, was represented by Robert Vallera and Matt Kennedy of Voit’s San Diego office.