KATY, TEXAS — The Mission Companies, a construction firm, and management and consulting company Entrust Inc. have completed a two-story, 34,000-square-foot office building in the Houston suburb of Katy. Entrust has leased 69 percent of the Class A property to serve as a new corporate headquarters. Located at 22322 Grand Corner Drive, the 2.62-acre site is situated at the interchange of State Highway 99 and Westpark Tollway, as well as the master-planned communities of Cinco Ranch, Grand Lakes and Seven Meadows. Sam Hansen of NAI Houston is the leasing agent for the remaining suites available at the facility.
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SCHERTZ, TEXAS — Stream Realty Partners has arranged the renewal of a 160,000-square-foot industrial lease at Tri-County Distribution Center in the northeast San Antonio suburb of Schertz. The tenant, Hollingsworth Logistics Group, occupies space in Building One of the Class A complex, which is located at 5925 Tri-County Parkway. Features at the building include 28-foot clear heights, recent exterior upgrades and proximity to Interstate 35. Jason Schnittger of Stream represented the landlord, CLPF – Tri County 1 LP, while Charlie Hargis of Endura Advisory Group represented Hollingsworth.
FORT COLLINS, COLO. — Westfield-Harmony LLLP has acquired Harmony Corporate Center, a 190,617-square-foot office building in Fort Collins, for $32 million. The property is located at 2950 E. Harmony Road. The seller was Casa Grande Capital Group, LLC. The transaction was executed by Peter Kast of Realtec, as well as by Gary Hollenbeck of Palmer-McAllister and Mary Frances Cowan of Quantum Commercial Group.
PRESCOTT, ARIZ. — Prescott Gateway Mall, a 578,666-square-foot regional mall has sold to Tabani Group for an undisclosed sum. The mall is located at 3250 Gateway Blvd. in Prescott. It contains about 133,000 square feet of traditional, enclosed mall space and about 192,000 square feet of pad space. The unnamed seller was represented by CBRE’s Mindy Korth, Philip D. Voorhees, George Good and Patrick Connell.
DENVER — RiverRock Real Estate Group has expanded its property management and leasing services into Denver. The firm was recently awarded the management of a 630,000-square-foot of portfolio office and industrial space in and around the metro. RiverRock will oversee the property management and engineering of five properties. It will also add about eight employees to the area.
SAN DIEGO – Alliance Residential has purchased the 549-unit Coronado Bay Club for $160 million. The community is located at 1515 Second Street on the island of Coronado, just across from Downtown San Diego. The deal was brokered by Jones Lang LaSalle on behalf of LaSalle Investment Management. Alliance's joint venture partner in this acquisition was a large institutional pension fund investor with MetLife Real Estate Investors serving as lender.
EVERETT, WASH. – The Daily Herald has relocated its headquarters in Everett. The newspaper, which is owned by Sound Publishing, will move to 1800 Forty First Building this March. It is relocating from Commando Road. The newspaper will occupy 15,915 square feet. The two-building property formerly served as the headquarters for Verizon/Frontier Communications. The property was sold earlier this year, though its seller, Frontier, still occupies one of the buildings. The landlord was represented by Daniel Seger,Brent Jacksonand Pat McCabe ofJones Lang LaSallein this lease transaction.
PROVO, UTAH – MJW Investments has acquired the 816-bed Liberty Square apartment complex near Brigham Young University (BYU) for $27 million. The complex is located at 448 E. 556 North. MJW purchased the complex in partnership with MHE Enterprises. MJW is currently expanding its student housing portfolio. Since 2007, it has acquired student housing portfolios at the University of Oregon, the University of California, Santa Barbara and BYU. The partnership has established a $200-million fund to invest in value-add student housing facilities in markets with high barriers to entry. It is targeting B- and C-level assets within walking distance of college campuses.
RALEIGH, N.C. — William Peace University, a private university in Raleigh, has purchased Seaboard Station, a 92,000-square-foot retail property in downtown Raleigh. The university bought the asset for approximately $20.8 million. Seaboard Station’s tenant roster includes 18 Seaboard, Galatea Boutique, J. Betski’s, Logan Trading Co., Marigold Parlour, 02 Fitness Club, Peace China, Phydeaux, Seaboard Ace Hardware, Seaboard Café, Seaboard Wine Warehouse, Studio 123 and Tyler’s Taproom. TradeMark Properties represented the school in the transaction.
TAMPA, FLA. — CBRE has arranged the sale of a Sweetbay Supermarket-anchored shopping center at 2525 N. Dale Mabry Highway in Tampa. Forge Real Estate Partners III LP, a private equity fund jointly managed by Forge Capital Partners and The Sembler Co., purchased the 56,097-square-foot asset for approximately $11.6 million. The shopping center is fully occupied to tenants including Sweetbay, Moe’s Southwest Grill, Scottrade, GameStop and Jimmy John’s. Casey Rosen and Dennis Carson of CBRE represented the seller, Optimus One LLC, in the transaction.