DALLAS — Marcus & Millichap has brokered the sale of Sienna Palms, a 152-unit multifamily property in Dallas, for $3.7 million. Constructed in 1980, the 14-building, garden-style community offers one- and two-bedroom floor plans averaging 840 square feet. Al Silva of Marcus & Millichap represented the seller, Cash Investments of El Paso, in the transaction. The purchaser, a Texas investment group also secured by Silva, plans improvements for the complex.
TERRELL, TEXAS — The firm of Henry S. Miller has brokered the sale of a 59,800-square-foot industrial building in Terrell, approximately 30 miles east of Dallas. The property, located at 100 FM 148, offers easy access to U.S. Highway 80. Preferred Powder Coatings, a provider of powder coating and paint services for industrial and military clients, purchased the facility and will occupy its entirety. Scott Axelrod of Henry S. Miller represented the buyer in the transaction. Terrell Economic Development Corp. sold the asset.
AUSTIN, TEXAS — A joint venture between MedProperties Holdings LLC and The LaSalle Group will break ground this month on Autumn Leaves of North Austin, a 46-bed memory care residence in Austin. The 27,000-square-foot property, located in close proximity to State Highway 183, is slated for completion within 12 months. Texas Gulf Bank provided construction financing for the project, and The LaSalle Group will operate the facility upon opening.
VERNON, CALIF. — Gramercy Property Trust has purchased two industrial buildings in Vernon for $14.7 million. They are located at 5764 Alcoa and 3311 Slauson, and total 129,720 square feet. The buildings were occupied and owned by Douglas Steel Supply Company. A triple-net leaseback was included in the transaction that will allow Douglas to occupy the spaces through 2028. Douglas was represented by Barbara Emmons, Brandon Gill, Mike Kendall and Rebecca Perlmutter of CBRE.
CARLSBAD, CALIF. – The 12-unit Sea Breeze condominium complex in Carlsbad has sold to Global Integrity Realty for $5.2 million. The complex is located at 3150 Ocean Street. It was built in 1982. Global Integrity represented itself in this transaction, while the seller, Holualoa Companies, was represented by Philip Buckley of CBRE San Diego. Universe Holdings will act as Global Integrity’s general partner.
HAYWARD, CALIF. – The 24-unit Pinehurst Apartments in Hayward has sold to a limited liability company for $3.9 million. The community is located at 29359 Dixon Street. It was built in 1992. David Weglarz of Marcus & Millichap’s Oakland office represented both the buyer and the seller, a private investor, in this transaction.
FORT LAUDERDALE, FLA. — Housing Trust Group (HTG) has broken ground on Village Place, a $15 million seniors housing development located at 720 N.E. 4th Ave. in Fort Lauderdale. Village Place will include 112 units with eco-friendly water fixtures, cable and satellite hookups, exercise room and a gated entrance with touchpad entry. The National Association of Home Builders is expected to designate Village Place a green building upon completion. Broward County Housing provided $125,000 toward the project, while U.S. Bank provided $38.6 million through its community development subsidiary. The loan amount includes a $13.2 million construction loan, $3 million permanent financing loan and more than $22.4 million of Low Income Housing Tax Credit equity, which was awarded by Florida Housing Finance Corp.
SAVANNAH, GA. — Colliers International has arranged the $6.3 million sale of Southchase Shopping Center, an 87,348-square-foot retail property located at 1132 Abercorn St. in Savannah. Hobby Lobby will anchor the shopping center, which also includes a PetSmart. Hobby Lobby will move into its 58,595-square-foot space in the summer. Atlanta-based RCG-Savannah LLC purchased the property from Savannah-based Dean Forrest Partners LP. Ashley Smith of Colliers International represented the seller in the transaction, and Drew Fleming and Mark Joines of Cassidy Turley represented the buyer.
NASHVILLE, TENN. — Prologis Inc has acquired six Class A logistics facilities totaling 1.8 million square feet in Nashville. The portfolio includes assets in the SouthPark and CentrePointe industrial parks and is more than 90 percent leased to 12 customers, including Nissan Trading Corp. Americas. Prologis owns and manages 39 facilities totaling 6.3 million square feet in the Nashville market.
ARLINGTON HEIGHTS, ILL . — AT&T Wireless has signed a lease renewal and expansion for 104,508 square feet of office space at 95 W. Algonquin Road in Arlington Heights, a northwest suburb of Chicago. AT&T moved into the building in the mid 1990s and currently occupies 80,000 square feet for its business solutions support group. The 138,000-square-foot property is now fully leased. Jason Wurtz, Linda Garske and Michael Flynn with NAI Hiffman’s office services group represented the building’s owner, CBRE Global Investors, in the transaction. George Kotrogiannis and Kurt Kittner of Jones Lang LaSalle represented AT&T.