SEBASTOPOL, CALIF. — The Barlow, a 212,000-square–foot, mixed-use industrial and retail lifestyle center in Sebastopol, has received two loans totaling $28.8 million. The center is located at 6770 McKinley Street. It is anchored by Kosta Browne Winery. The Barlow features two full-scale production wineries, four wine tasting rooms, two breweries, a gin and vodka distillery, a coffee roaster, two restaurants, a grocery store, a tea company, a full-scale production bakery and various other artisan producers. The project’s remaining space may be utilized by a boutique hotel with a spa. Financing was arranged by Ethan Schelin of Lucent Capital.
OLYMPIA, WASH. — Starwood Capital Group has acquired a majority interest in seven regional malls, including three out West, for $1.6 billion. The acquisition includes Capital Mall in Olympia, Wash., Parkway Plaza inEl Cajon, Calif., and PlazaWest CovinainWest Covina, Calif. The portfolio contained a total of 7.9 million square feet across four states. The malls have an average occupancy rate of 96 percent. The WestfieldGroup will maintain a 10 percent common equity interest in the properties. Starwood Retail Partners is the wholly owned, fully integrated operating platform that oversees Starwood Capital Group's retail investments.
SAN JOSE, CALIF. — Embarcadero Capital Partners has purchased Gold Street Technology Center, a 302,600-square-foot office/R&D campus in San Jose, for an undisclosed sum. The five-building campus is located at 2100, 2130, 2150, 2160 and 2190 Gold Street along Highway 237. It is 80 percent leased to four tenants, including Tivo, Inc., eSilicon Corporation, Minerva Networks and PiCoral. The seller, PNC Realty Investors, Inc., is the investment advisor to the AFL-CIO Building Investment Trust. It was represented by HFF’s Michael Leggett, Steven Golubchik and John Simerlein.
PORTLAND, ORE. — An investment fund sponsored by Unico Properties LLC has purchased the Commonwealth Building, a 219,557-square-foot creative office building in Portland, for $41 million. The building is located at 421 SW 6th Ave. It was built in 1947 and renovated from 2008 to 2010. Commonwealth is currently 93.1 percent occupied. The seller was Commonwealth Acquisition LLC. Unico will continue to manage the building. Buzz Ellis, Michel Seiferand Paige Morgan of Jones Lang LaSalle’s Capital Marketsexecuted the sales transaction. JLL’s Joe Vaughanand Kristin Hammond will continue to oversee its leasing efforts.
RALEIGH, N.C. — Grubb Properties and Rubenstein Partners have teamed up to acquire a two-building office campus totaling 467,000 square feet in the Research Triangle Park. The Class A office buildings were built and formerly occupied by telecommunications company Ericsson. Grubb and Rubenstein plan to renovate and reposition the two properties.
COLUMBIA AND NORTH CHARLESTON, S.C. — ElmTree Net Lease Fund II has acquired a 16,000-square-foot office building in North Charleston and a 42,000-square-foot office building in Columbia for a combined $6.9 million. URS Corp. will occupy both properties under a 10-year lease. The North Charleston building is part of the Riverview Corporate Park and the Columbia building is in the SCRA Carolina Research Park.
JUPITER, FLA. — The Fresh Market has signed on as the anchor tenant of The Shops at Fisherman’s Wharf in Jupiter. The shopping center is located at the intersection of East Indiantown Road and Intracoastal Pointe Drive. The Fresh Market’s 20,900-square-foot store is expected to open in the summer of 2014. The shopping center’s new owner, Elion Partners, is implementing a multimillion dollar renovation to the property. The project team for the shopping center includes assistant developer Michael Hotte with Echion, leasing broker Atlantic Retail Properties and property manager Transwestern. Prime Sites Inc. represented The Fresh Market in the deal.
WILMINGTON, N.C. — A 50,000-square-foot Dick’s Sporting Goods and 24,000-square-foot Marshalls have signed on to anchor the 203,000-square-foot Mayfaire Community Center in Wilmington. Mayfaire Community Center is part of Mayfaire, a 400-acre, master-planned community. The two new anchor tenants are part of the shopping center’s Phase II expansion, which is expected to open in November 2014. A third anchor store is expected to be announced in the near future. Greenville, N.C.-based BrodyCo. Inc. and Wilmington-based Zimmer Development Co. are co-developers of Mayfaire.
ATLANTA — Lincoln Property Co. Southeast, along with Cushman & Wakefield, has arranged the new lease of 28,299 square feet of office space at 55 Allen Plaza in Atlanta. The 350,000-square-foot office tower is located in downtown Atlanta. Tony Bartlett of Lincoln and Andy Sumlin of Cushman & Wakefield’s Atlanta office represented the landlord in the lease transaction. Carla Williams and Jeff Samaras of Cushman & Wakefield represented the tenant, Connecture Inc., an healthcare information systems firm. The company signed an 11-year lease to occupy the entire fourth floor of the building, which is now 93 percent leased.
CRAWFORDSVILLE, IND. — HealthLease Properties Real Estate Investment Trust has acquired a newly built, 100-unit seniors housing facility in Crawfordsville from Mainstreet Property Group LLC, the asset manager for the publicly traded REIT. Wellbrooke of Crawfordsville sold for $16.9 million. The facility is leased on a triple-net basis to an operator that is owned 50 percent by Life Care Services and 50 percent by an affiliate of Mainstreet. Of the 100 units at Crawfordsville, 70 are licensed to provide skilled nursing, rehabilitation and therapy services, while the other 30 provide assisted living. The Toronto-based REIT (TSX: HLP.UN) owns 45 seniors housing facilities with 12 in Canada and 33 in eight U.S. states.