MILFORD, CONN. — Washington Trust’s commercial real estate group has provided $4.3 million in acquisition financing to Metro 100 LLC for a mixed-use property in Milford. Located at 100-102 Lansdale Ave., 10 miles south of New Haven, the property includes 23 apartment units and 20,808 square feet of retail space. Proceeds from the loan will be used to make enhancements to the property.
ALPHA, N.J. — NAI James E. Hanson has arranged the sale of a two-story building at 43 Industrial Drive in Alpha, N.J. The 25,600-square-foot property traded for $1.3 million. Sig Schorr, vice president at NAI Hanson, represented the seller, Alpha Press, in the transaction. Schorr also procured the buyer, Hunterdon Transformer, which designs and manufactures high-performance magnetic devices. Located on 7.3 acres, the building features a tool and parts department with a supervisor’s office, machine shop area and 4,000 square feet of office space on each floor.
WEST HEMPSTEAD AND LONG ISLAND, N.Y. — The U.S. Green Building Council (USGBC) has awarded Mill Creek Residential LEED-Gold certification for two of its apartment communities: Metro 303 in Long Island and West 130 in West Hempstead. Both apartment communities minimize their ecological footprints by including Energy Star appliances in the units, electric car charging stations and smoke-free living. Metro 303 and West 130 are also located within walking distance to mass transit options and feature high-efficiency air filtration systems. The 166-unit Metro 303 includes studio, one-, two-, and three-bedroom units and a two-level enclosed parking lot. The 150-unit West 130 includes one-, two- and three-bedroom units and an underground parking garage.
SAN ANTONIO — Marcus & Millichap has arranged the sale of the Waters at Northern Hills, a 304-unit multifamily community at 4031 Thousand Oaks Drive in San Antonio. The property, set on a private lake, includes a mix of one- and two-bedroom apartments plus a fitness center, wooded picnic area and swimming pool. Will Balthrope, Scott Lamontagne, Zar Haro and Michael Moffitt of M&M represented the seller, a 501(c)(3) not-for-profit company.
HOUSTON — NAI Houston has brokered the sale of a 37,500-square-foot warehouse at 8200 Telephone Road in Houston. The property is located on a 2.7-acre lot in the South Highway 35 industrial submarket. NAI’s John Ferruzzo and Clay Pritchett represented the seller, Eastpark Partners Limited, while Doyle Toups of Moody Rambin Interests represented the buyer, DSDY Real Estate LLC.
IRVING, TEXAS — The Debt and Equity Finance Group of CBRE Capital Markets has secured $8 million in financing for 1212 Corporate Drive in Irving, a multi-tenant office asset of Libitzky Holdings LP. The 124,128 square-foot property, located in the Las Colinas neighborhood, was built in 1982 and renovated in 2008 and 2009. Libitzky has owned the building since 2011. Greg Greene, Matt Ballard and Patrick Benoist of CBRE’s Dallas office arranged the terms of the 10-year, fixed-rate loan.
HOUSTON — A second Houston location of the Yucatan Taco Stand and Tequila Bar has been confirmed for 1001 Studewood Street No. 1 in Houston. The company has signed a retail restaurant property lease for a total of 4,900 square feet, of which Yucatan will occupy 3,200 square feet. The operator will use the remaining space for a concept yet to be named. Christopher Dray of Moody Rambin represented the landlord, The Omaha & South Texas Land Company LLC. Mark Raines of CBRE represented the tenant.
PHOENIX — The Retreat, a 480-unit apartment community in Phoenix, has sold to Bridge Investment Group Partners for an undisclosed sum. The community is located at 20808 North 27th Ave. The seller, a publicly traded REIT, was represented by Steve Gebing and Cliff David of Marcus & Millichap’s Phoenix office. The buyer acts as manager of the ROC Fund.
CAMPBELL, CALIF. – The 121-unit Campbell Plaza Apartments has sold to The Bascom Group for $27.6 million. The community is located at 710 Nido Drive in the San Jose submarket of Campbell. The seller, Spieker Companies, was represented by Stanford Jones, Salvatore Saglimbeni and Philip Saglimbeni of Institutional Property Advisors.
REDMOND, WASH. – Redmond Town Center, a 695,000-square-foot, mixed-use urban shopping center, has sold to a fund managed by DRA Advisors LLC and JSH Properties for an undisclosed sum. It is located at 7525 166th Ave NE in Redmond. The open-air center is set to undergo a series of upgrades to make it more pedestrian-friendly. Notable tenants at the center include Ann Taylor, REI, Bed Bath & Beyond, Macy’s, Chico’s, The Gap, The MAC Store, Victoria Secret and Cost Plus World Market. Charming Charlies, 24 Hour Fitness and Jersey Mikes are set to open at the center this fall.