HOUSTON — Finial Group has brokered the sale of a 65,000-square-foot industrial building in Houston. Located at 8363 Market Street, the tilt-wall facility is in proximity to the interchange of East Freeway and Interstate 610. Piping manufacturer Sunbelt Supply Co. occupies the property. Reed Vestal and Ross Thomas of Finial represented the buyer, Golfcrest Investments LLC. Beau Kaleel and Jim Foreman of Cushman & Wakefield represented the undisclosed seller.
SAN DIEGO – Trigild has taken over a portfolio of five franchised hotels throughout California. This includes three Marriotts, a Best Western and a Holiday Inn Express. Trigild was appointed receiver of the hotels by the Superior Court of California, County of Monterey. The firm will take possession of the hotels and will manage their daily operations while legal action is pending. The hotels included in the court-appointed receivership include the 139-room Courtyard Marriott in San Luis Obispo; the 93-room TownePlace Suites/Thousand Oaks and the 120-room Courtyard Marriott in Thousand Oaks; and the 120-room Best Western Valencia and the 118-room Holiday Inn Express Valencia in Valencia.
PARK CITY, UTAH — A six-building portfolio of retail properties along Historic Main Street in Park City has been acquired by 900 Lower Main Street Associates for an undisclosed sum. The buildings contain a total of about 44,000 square feet. They are currently home to 16 retail, restaurant and office tenants, including Vinto Pizzeria, Prudential, Prime Steakhouse, Park City Sports, The Mustang, Collie’s Sports Bar & Grill and Coda Gallery. The seller, Lower Main Street Venture, was represented by Bryce Blanchard and Mark Jensen of Newmark Grubb ACRES.
BALTIMORE — Cassidy Turley has brokered the sale of a 25-story office tower located at 36 S. Charles St. in Baltimore’s CBD. Los Angeles-based Laurus Corp. purchased the 294,274-square-foot office building from AREA 16B Associates LP. Jonathan Carpenter and James Wellschlager of Cassidy Turley represented the seller in the transaction.
JUPITER, FLA. — CBRE has arranged the sale and financing of the Jupiter Medical and Technology Park, located at 1701 Military Trail in Jupiter. The buyer, Hollywood, Fla.-based POH Jupiter Ownership LLC, purchased the 185,000-square-foot campus for $30.7 million. CBRE arranged $26 million in acquisition financing for the buyer through RAIT Financial Trust, a Philadelphia-based REIT and bridge lender. The seller, Jupiter RE Investments LLC, is the real estate holding company affiliated with Florida Turbine Technologies, which occupies 34 percent of the medical/office campus. Nearly half of the property is occupied by GE Medical Systems, a subsidiary of GE Healthcare. The CBRE professionals involved in the transaction include Scott O’Donnell, Dominic Montazemi, Miguel Alcivar, Christian Lee, Robert Smith, Charles Foschini and Jason Hochman.
ATLANTA — Carter-Haston Holdings has purchased Glenwood East, a 236-unit multifamily community located at 390 Stovall St. in Atlanta's Glenwood Park neighborhood. Property amenities include a penthouse-level clubroom, outdoor courtyard, dog park and fitness centers. The mid-rise complex is also located in close proximity to the city's BeltLine. David Gutting and Derrick Bloom with Jones Lang LaSalle's capital markets team represented the sellers, Alliance Residential and Prudential Real Estate Investors, in the transaction.
GAITHERSBURG, MD. — NorthMarq Capital has arranged $22.4 million in acquisition financing for Oakwood Corporate Apartments, a 136-unit multifamily property located at 9890 Washingtonian Blvd. in Gaithersburg. The high-rise apartment community is located in Washingtonian Center and Rio Entertainment Center, a mixed-use development. Gary McGlynn, Jason Smith and Frank Relihan of NorthMarq’s Washington, D.C., office arranged the financing on behalf of the borrower through an insurance company.
MIAMI — GrayRobinson, a law firm with 280 attorneys and 11 offices in Florida, is relocating its Miami office to Wells Fargo Center in downtown Miami. Wells Fargo Center is a 750,000-square-foot, Class A office tower located near Interstate 95 and Brickell Bridge. Taylor & Mathis signed the law firm to a 35,358-square-foot office lease on the 31st and 32nd floors. GrayRobinson is expected to move into its new office space in January 2015. Brian Gale and Ryan Holtzman of Taylor & Mathis represented the landlord, MetLife, in the lease transaction. Barbara Liberatore Black of Cresa South Florida represented GrayRobinson.
CLEVELAND, OHIO — Columbia Property Trust Inc. has signed a 15-year lease with BakerHostetler for 115,615 square feet of space at Key Tower in downtown Cleveland. BakerHostetler, a global law firm, will lease five floors of the 57-story office tower beginning in January 2016. Columbia Property Trust has owned the Class-A office tower and attached 10-story historic building since December 2005. The 1.3-million-square-foot property also serves as the namesake headquarters of KeyCorp., the holding company for KeyBank, which in 2013 signed a 15-year lease extension for 37 percent of Key Tower. Jerry Banks and Darik Afshani, vice presidents of asset management at Columbia Property Trust, and Douglas Miller, Cindy Greiner and John Klayman of Jacobs Real Estate Services, represented Columbia Property Trust in the transaction. Sherry Cushman of Cushman & Wakefield and Doug Leary of CBRE represented BakerHostetler.
BOLINGBROOK, ILL. — Marcus & Millichap has arranged the $5.3 million sale of The Shops at Lily Cache Creek, a 17,960-square-foot retail property in Bolingbrook, a southwest suburb of Chicago. Adam Fortino, Austin Weisenbeck and Sean Sharko, investment specialists at Marcus & Millichap, marketed the property on behalf of the seller, a limited liability company. Jason Cropper, an investment specialist at Marcus & Millichap, represented the buyer, a California-based limited liability company. The Shops at Lily Cache Creek is located at 741-769 E. Boughton Road and was 94 percent occupied at the time of the sale.