SARVER, PA. — Digital Cinema Destinations Corp. (Digiplex) has agreed to purchase a 10-screen movie theater in Sarver, located about 31 miles northeast of Pittsburgh. The purchase price was undisclosed. Digiplex is acquiring the South Pike Cinema 10, located at 130 Cinema Way, from Cheswick Theaters Inc. Once the transaction closes, Digiplex plans to convert three or more of the screens to 3D compatibility with the assistance of technology partner RealD. The acquisition marks Digiplex’s seventh Pennsylvania location, including the five acquired from Cinema Centers in 2012 and a pending acquisition in the metro Harrisburg area.
SEABROOK, N.H. — Fantini & Gorga has arranged a $5.9 million loan for the purchase of a 101,184-square-foot retail center in Seabrook, located about 40 miles east of Manchester. A Kohl’s department store anchors the property, which also includes Famous Footwear and Sleepy’s as tenants. Kohl’s has 15.5 years remaining on its initial lease term. Keith Wentzel, managing director at Boston-based Fantini & Gorga, arranged the acquisition financing for a New Jersey-based investment group. A Massachusetts-based community bank funded the loan. Approximately 65 percent of the center’s income comes from the Kohl’s lease, according to Wentzel.
HOUSTON — Coldwell Banker Commercial United Realtors (CBCUR) has brokered the sale of a 130,000-square-foot retail property in Houston. Located at 9929 Homestead Road, the strip shopping center is in close proximity to U.S. Highway 59. Mark McGinley of CBCUR represented the seller, a local partnership. John Paul Hilton represented the buyer, AK Capital 6.
HOUSTON — NAI Houston has brokered the sale of a 21,425-square-foot industrial building in Houston. The facility is located at 12626 N. Houston Rosslyn Road. Michael Keegan of NAI Houston represented the buyer, EKE Holdings LLC. John Ferruzzo, also of NAI Houston, represented the seller, Arrowrock Tres-Industrial LP.
McKINNEY, TEXAS — Lee & Associates has arranged a 28,356-square-foot industrial lease in the Dallas/Fort Worth suburb of McKinney. The multi-tenant facility is located at 1602 Lavon Drive, offering easy access to State Highway 75. Mark Graybill and Erik Murray of Lee & Associates represented the tenant, Beacon Sales Acquisition LLC. David Cox of Carey Cox Co. represented the landlord, NLC Asset LLC.
EVERETT, WASH. – The 86-unit Meridian Glen apartments in Everett has sold to Randolph Street Realty Capital LLC for $8.7 million. The community is located at 12115 Meridian Ave. South in the city’s Silver Lake submarket. It was built in 1990. The seller was not named. The transaction was executed by David Young, Corey Marx, Seth Heikkila and Matt Kemper of Jones Lang LaSalle’s Capital Markets.
LOS ANGELES – A 25-unit apartment building in the Los Angeles submarket of North Hills has sold to a partnership for $2.9 million. The community is located at 8628-8648 Langdon Ave. The buyer was represented by Jeff Louks, Catherine O'Brien and Matt Ziegler of Marcus & Millichap’s Encino office. Louks also represented the seller, another partnership, in this transaction.
TUCSON, ARIZ. — Floor & Decor has leased 58,205 square feet at ABC Retail Center in Tucson. The center is located at 7125 E. Broadway Blvd. ABC was represented by CBRE’s Nancy McClure and Jeff Kittleson. The landlord, ABC Broadway/Kolb Center LLC, represented itself in this transaction.
AVONDALE, ARIZ. — Lake Washington Partners has purchased the Coldwater Depot Logistics Center, a 600,000-square-foot distribution center in Avondale, for an undisclosed sum. The 54-acre site is located at 1100 North 127th Ave. in southwest Phoenix. The existing distribution center is occupied by Conn’s Furniture. The site can accommodate an additional 400,000 square feet of distribution/warehouse facilities. Lake Washington will manage the site’s future construction and development. It acquired the property from Trammell Crow Company and Clarion Partners.
SANTA FE, N. MEX. – A joint venture between PCCP, LLC and 1754 Properties LLC has acquired the 158-room La Posada de Santa Fe Resort and Spa for an undisclosed sum. The resort is located at 330 E. Palace Ave. in downtown Santa Fe near the new Santa Fe Community Convention Center. The JV plans to carry out a $5-million improvement project at the resort. It will then be rebranded under Starwood Hotels & Resorts’ The Luxury Collection brand. The hotel originally opened in 1940. It has undergone more than more than $7.6 million in renovations since 2008. The seller, Ektornet, had purchased the resort in 2007 from a prior partnership that involved 1754 Properties.