GRAHAM, TEXAS — Marcus & Millichap has brokered the sale of First Texas Plaza, a 9,500-square-foot retail property in Graham, a city located about 40 miles southeast of Lubbock. Constructed in 2008, the strip shopping center is located on one acre at 2110 Highway 16 South. The facility is fully leased to Hibbett Sports, AT&T, The Cash Store and Graham Nail & Spa. All of the tenants lease their respective spaces on a triple-net basis. Philip Levy and Chris Gainey of Marcus & Millichap marketed the asset on behalf of the seller, a limited liability company. Levy and Gainey also secured the buyer, a private investor.
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HOUSTON — Moody Rambin has arranged a 9,969-square-foot office lease in Houston for Document Technologies, a provider of document outsourcing services primarily for law firms and corporations. The tenant will occupy space within the 2550 North Loop West building, an eight-story, 155,061-square-foot property located near the interchange of I-610 and U.S. Highway 290. Terri Torregrossa and Kurt Kistler of Moody Rambin represented the building owner and landlord, Oxley Leasing 2550 LLC, in the negotiations. Ryan Barbles of JLL represented the tenant.
SANTA CRUZ, CALIF. – A 100-room Holiday Inn Express Hotel & Suites in Santa Cruz has sold to a joint venture between Trigild and Blu Hotel Investors for $16.5 million. The hotel is located at 1410 Ocean Street. Trigild will manage the property. The JV also purchased the 121-room Santa Ana Hampton Inn & Suites last year.
DENVER — The Patrician, a 36-unit apartment building in Denver, has sold to a local apartment real estate investment and management company for $6.3 million. The community is located at 1075 Corona Street in the city’s Cheesman Park neighborhood. The seller, the Gruber family, was represented by Justin Hunt and Andy Hellman of ARA Colorado.
ONTARIO, CALIF. – A 115,316-square-foot industrial building in Ontario has received a $4.2-million refinance. The building is located at 4502 E. Airport Drive. It is occupied by the Newark Group. The non-recourse, 10-year loan features a 25-year amortization schedule. It was arranged by Robert R. Hervey of NorthMarq Capital’s Los Angeles office through the firm’s relationship with a correspondent life company.
MESA, ARIZ. — Village Square at Dana Park, an urban lifestyle center in Mesa, has added three new tenants to its roster. Pita Jungle recently opened a new 3,600-square-foot space; Soma Intimates has occupied 2,200 square feet; and Thinique has debuted a new 2,300-square-foot studio at the center. The three leases total more than 8,000 square feet. Village Square is owned by Whitestone REIT.
PHOENIX — Alliance Financial Resources has leased 25,000 square feet at The Offices On High Street in Phoenix. The home loan provider will occupy the second floor of the A5 building. It will relocate about 110 employees from its Deer Valley office. Alliance was represented by CBRE’s Dave Carder. The landlord is a joint venture between ScanlanKemperBard Companies and Wayzata Investment Partners.
ATLANTA — PMZ Realty Capital LLC has closed an $81.5 million floating rate loan for the Embassy Suites Atlanta – At Centennial Olympic Park, a 321-suite hotel adjacent to the World of Coca-Cola and the Georgia Aquarium in Atlanta’s Luckie Marietta District. The hotel features 16,000 square feet of meeting space and an outdoor pool and spa. This is the third loan PMZ Realty Capital has closed on behalf of the hotel’s owner, Legacy Property Group, in the last six months. Legacy is planning on renovating the hotel during the next 12 months.
SOUTH MIAMI, FLA. — Construction will begin this summer on Metro South Senior Apartments, a 91-unit independent living community located at the northwest corner of Sunset Drive and S.W. 61st Avenue in South Miami. Beneficial Communities, the developer, recently received approval for the development from the city of South Miami. The seven-story community will include a leasing office and commercial space on the ground floor and tenant amenities on the second floor. Amenities will include a café, game room, theater, fitness center, laundry facility and an integrated four-story parking garage. The design team includes architect and interior designer Forum Architecture & Interior Design Inc., general contractor Siltek Group Inc., structural engineer ONM&J Inc., MEP engineer Joseph Lawrence & Co. LLC and civil engineer Develotec Inc.
AIKEN, S.C. — JLL has arranged the $28.9 million sale of Hitchcock Plaza, a 252,097-square-foot shopping center in Aiken. Inland Real Estate Group purchased the asset from Hendon Properties. The shopping center’s tenant roster includes Ross Dress for Less, T.J. Maxx, Bed Bath & Beyond, Old Navy and Academy Sports + Outdoors. Margaret Caldwell and Kris Cooper of JLL represented Hendon Properties in the transaction.