GARLAND, TEXAS — Henry S. Miller Brokerage has arranged the sale of a 17,000-square-foot industrial building in the northeast Dallas suburb of Garland. Located at 1410 N. First St., the facility is in close proximity to the Bush Turnpike and Lavon Drive. Dan Spika of Henry S. Miller represented the seller, Altronic LLC, a manufacturer of ignition and control systems for industrial engines. Chris Stout of Jones Lang LaSalle represented the buyer, A-1 Powder Coat. The painting, powdering and sandblasting company will occupy the property by the end of the year and operate it as its Dallas headquarters.
Property Type
OAKLAND, CALIF. – Ellis Partners has acquired 1111 Broadway in downtown Oakland for a reported $158 million. The 24-story, Class A building contains a total of 566,168 square feet inside Oakland City Center. Notable tenants at the building include Merrill Lynch Wealth Management, HTNB, Wendel Rosen Black & Dean LLP and Tiemstra Law. Oakland City Center was owned by CBRE Investors until it began the disposition of all five assets earlier this year. Eastdil Secured represented both the buyer and the seller in this transaction.
SAN FRANCISCO – A three-property California apartment portfolio has received an $89.1-million refinance. The properties include the 164-unit The Boulders in Walnut Creek; the 100-unit Chesapeake Point in San Mateo; and the 248-unit Los Robles in Thousand Oaks. The loans feature 10-year terms and 30-year amortization schedules. They were arranged by Jeffrey Weidell, Nathan Prouty and Andrew Slaton of NorthMarq Capital’s San Francisco regional office through the firm’s relationship with theGuardian Life Insurance Company of America.
MESA, ARIZ. – A 98-unit apartment building in Mesa has sold to a foreign entity for $4.1 million. The community is located at 5801 East Albany Street across from Dreamland Villa Golf Course. It was built in 1971. Doug Fielding of Marcus & Millichap’s Phoenix office represented both the buyer and the unnamed seller in this transaction.
TEMPE, ARIZ. — DSW Designer Shoe Warehouse has leased 20,000 square feet of space at Tempe Marketplace. The 1.3-million-square-foot shopping center is located at 2000 E. Rio Salado Parkway in Tempe. Todd Folger of CBRE’s Phoenix office represented both DSW and the center’s owner, Vestar, in this lease transaction.
DENVER – A 23-unit apartment building in Denver has sold to a local group of apartment buyers for $2.8 million. The community is located near the intersection of Colfax Avenue and Colorado Boulevard near National Jewish Health. Jim Knowlton of Pinnacle Real Estate Advisors represented the buyers. The unnamed seller was represented by Jeff Johnson of the firm’s Johnson Ritter Team.
GILBERT, ARIZ. – The Shoppes at the Islands land, an 11.4-acre site at the southeast corner of Warner and McQueen roads in Gilbert, has sold to Genica Arizona, LLC for $2.1 million. The partnership plans to use the land to develop a new single-family housing community. It was represented by Aaron Carson of Carson Commercial, LLC. The seller, Starwood Asset Management, LLC, was represented by Jim Crews, Brett Polachek and Adam Madison of Cushman & Wakefield.
LONG BEACH, CALIF. — Primex Agriculture Services has signed a five-year lease for 104,737 square feet at the California State University Long Beach (CSULB) Technology Park. The park is located at 2200-2250 Technology Place in Long Beach’s Heavy Weight Corridor. The space was previously occupied by DAMCO Distribution. The alfalfa exporter was represented by Zac Sakowski and Barry Hill of Jones Lang LaSalle. The landlords, CSULB and Watt Commercial Properties, were represented by Gregory Gill, Garrett Massaro and Brandon Carrillo of Lee & Associates.
RALEIGH, N.C. — Meridian Development Group, in a joint venture with Singerman Realty Estate LLC, acquired a 235,404-square-foot industrial property at 3401 Gresham Lake Road in north Raleigh. The new ownership plans to extensively renovate the property into a Class facility known as North 540 Distribution Center. Chris Norvell and Jackson Rives of Cushman & Wakefield | Thalhimer are handling the property’s marketing and leasing responsibilities.
ATLANTA — Bull Realty has arranged the $4.3 million sale of 1753 Peachtree St., a 1.2-acre site in Atlanta’s Buckhead submarket. UHS-Pruitt, a healthcare real estate owner and operator based in Norcross, Ga., purchased the land from Woodhaven Ventures LP. UHS-Pruitt plans to develop an upscale, six-story skilled nursing facility on the property that will house 120 beds. The corner site is located within a half mile of Piedmont Hospital and the Shepherd Center. Michael Bull and Daniel Latshaw of Atlanta-based Bull Realty represented the seller in the transaction. Rush Bradley of Lavista Associates represented the buyer. The site is located at the intersection of Peachtree Street and Huntington Road.