WYLIE, TEXAS — Bright Realty has brokered the sale of Harvest Plaza, a 20,050-square-foot retail property in the far northeast Dallas suburb of Wylie. The asset is situated on more than three acres at 2014 State Highway 78. Tim McNutt and Britton Lankford of Bright Realty represented the unnamed seller in the transaction, while the buyer, DuWest Realty, was internally represented by Will Walters.
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LOS ANGELES — Sabra Health Care REIT has received five loans totaling $46.1 million. The loans will allow the REIT to refinance five of its facilities, which are located in California, Colorado, New Mexico and Montana. The loans’ rates were in the low 4-percent range. The five 232/223(f) HUD loans were closed by Housing & Healthcare Finance.
LOS ANGELES – A 1.42-acre multifamily development site in Downtown Los Angeles has sold to an unnamed buyer for $6.8 million. The site is located at the junction of Chavez Ravine and Stadium Way. The buyer has the potential to develop 150 to 200 apartments on the site. The seller, Chavez Realty Development, was represented by Lynwood Fields and Bob Pearson of Madison Partners.
LOS ANGELES – A 40,428-square-foot industrial/office building in the Los Angeles submarket of Thousand Oaks has sold to International Church of Foursquare Gospel for $5.2 million. The building is located at 3353 Old Conejo Road. The seller, Dorothea Phelan and Ardean Calvin Trusts, was represented by Jack Dwyer of NAI Capital’s Westlake Village office.
SCOTTSDALE, ARIZ. – A 31,427-square-foot development site in Scottsdale has sold to Deco Acquisitions (dba Deco Communities) for $4 million. The 0.72-acre site is located at 4422 N. 75th Street. Deco Communities plans to develop the 90-unit Envy luxury condominium complex on the site. It will partner with Isles Ranch Partners on this project. The unnamed seller was represented by David Fogler, Steven Nicoluzakis and Don Arones of Cassidy Turley.
LONG BEACH, CALIF. – A retail building in Long Beach that is occupied by a CVS store has received $2.7 million in refinancing. The store is located at 1250 E. Pacific Coast Highway. The loan features a 10-year term and a 25-year amortization schedule. It was arranged by Doug Austin of NorthMarq Capital’s San Diego office through the firm’s relationship with a correspondent life company.
CHARLOTTE, N.C. — Electrolux has named Columbia, S.C.-based Red Rock Developments the developer for the expansion of its North American headquarters in Charlotte. Electrolux has entered into a 20-year lease agreement with Red Rock, which will be responsible for the development and financing of the $85 million project. Red Rock will jointly finance the project with Marc Realty, a real estate investment firm based in Chicago. The project will include the addition of a second facility adjacent to the existing property. The new property will span six stories and 375,000 square feet. The property is slated to be LEED certified and feature solar panels, a roof garden and a courtyard.
BETHESDA, MD. — LCOR, a commercial real estate developer and manager, will begin leasing the 18-story Aurora, a multifamily development at North Bethesda Center in Bethesda, in June. The property is a short walk away from the White Flint Metrorail Station. North Bethesda Center is a 2.7 million-square-foot mixed-use community that features multifamily and retail components. WDG Architects designed the 341-unit community with a brick and glass façade and a 386-space parking garage. The project is expected to be LEED certified. Aurora will feature a mix of studio, one- and two-bedroom units and kitchens with granite countertops, cabernet cabinets and a choice between a breakfast bar or kitchen island. The development’s amenity package includes a golf simulator, fitness center, business center with computers, bike repair station, storage area, resort-style pool with sun deck, rooftop terrace and media game room. The multifamily tower will also feature the Aurora Sky Club, a bar/lounge area on the 18th floor.
ST. PETERSBURG, FLA. — J Square Developers has completed the demolition and begun the redevelopment of a 15,500-square-foot shopping center at 2700 4th St. N. in St. Petersburg. The property is fully pre-leased and will include a 12,500-square-foot Trader Joe’s and a 3,000-square-foot freestanding Vitamin Shoppe. The project team includes general contractor Wichman Construction Co., architect CSJM Architects and civil engineer ARO Engineering. American Momentum Bank is providing construction financing for the project.
POMPANO BEACH, FLA. — Auction.com has sold the Pompano Merchandise Mart on behalf of seller Pompano Lincoln Industrial for approximately $9 million. The 118,242-square-foot, four-building property is located at 2099 and 2101 W. Atlantic Blvd. in Pompano Beach. The property’s tenants include Northern Tool + Equipment and Jerry’s Casual Patio. Michael Jimenez and Andre Cuadrado of Auction.com’s Miami officer represented the seller in the transaction.