KELLER, TEXAS — UCR Investment Sales has brokered the sale of Tarrant Parkway Commons, a 56,772-square-foot retail property in the Dallas/Fort Worth suburb of Keller. The fully occupied property, located on the northeast corner of U.S. Highway 377 and North Tarrant Parkway, is anchored by Sprouts Farmers Market and also houses Michael’s. Adam Howells, Kevin Catalani and Jessica Donnelli of UCR Investment Sales marketed the asset on behalf of the unnamed seller. The buyer, Inland Real Estate Acquisitions Inc., was represented internally by Matthew Tice.
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BEDFORD, TEXAS — Marcus & Millichap has brokered the sale of a 39,350-square-foot property in the Dallas/Fort Worth suburb of Bedford net-leased to 24 Hour Fitness. Located at 1805 Airport Freeway, the site features a population of 240,000 within a 10-mile radius. Jason Vitorino and Jared Aubrey of Marcus & Millichap marketed the asset on behalf of the seller, an out-of-state private investor. Vitorino and Aubrey also secured the buyer, an East Coast-based investor completing a 1031 tax-deferred exchange.
PHOENIX — Melcor Development has acquired the Perimeter Parkview Corporate Center and the Chauncey Professional Center for a total of $11.1 million. The 24,154-square-foot Perimeter property is located at 8355 E. Hartford Drive in Scottsdale, while the 35,066-square-foot Chauncey property is located at 6930 E. Chauncey Lane in Phoenix. The buildings sold for $4.1 million and $7 million, respectively. Melcor was represented by Tom Swan of Amcal Southwest. The seller, ViaWest Group, was represented by Barry Gabel and Chris Marchildon of CBRE’s Phoenix office.
BELLINGHAM, WASH. – The 68-room Bellwether Hotel in Bellingham has received a $10.5-million refinance. The hotel is located at 1 Bellwether Way within the Bellwether on the Bay development. The mixed-use development also includes office buildings, a park, promenade and restaurants. The 10-year loan features a 27-year amortization schedule. It was arranged by Stuart Oswald of NorthMarq Capital’s Seattle regional office through the firm’s relationship with a CMBS lender.
SAN LEANDRO, CALIF. – An 85,089-square-foot food manufacturing warehouse in San Leandro has sold to Berber Food Manufacturing, Inc, dba Mi Rancho, for an undisclosed sum. The warehouse is located at 427 Hester Street. Mi Rancho is a local family business that produces and distributes tortillas. The seller, Lowenberg Corporation, was represented by Greig Lagomarsino of Colliers International’s Oakland office. Financing was provided by Tom Signorelli with Westgate Financial.
HAYWARD, CALIF. — Biolog Inc. has renewed its lease for 27,897 square feet at Britannia Business Park in Hayward. The park is located at 21124 Cabot Blvd. Biolog was represented by Todd Severson and Rick Keely of Colliers International in Oakland. The landlord was represented by WP Investments.
PHOENIX — Ace Hardware has leased 15,000 square feet at Desert Foothills Plaza in Phoenix. The plaza is located at 1323 East Chandler Blvd. in the Ahwatukee Foothills. Notable tenants at the plaza include Bank of America, Big O Tires, Chase Bank, Grease Monkey and Walgreens. Ace Hardware was represented by Brent Mallonee of Cassidy Turley’s retail group. The landlord, Foothills Plaza LLC, represented itself in this transaction.
ALPHARETTA, GA. — North American Properties (NAP) has topped off Avalon, the $600 million, mixed-use development in Alpharetta, an affluent suburb north of Atlanta. NAP has also signed 15 new retailers to the property, making Avalon’s retail component 97 percent pre-leased. The new retailers joining Avalon’s tenant roster include J. Crew, Crate & Barrel, Calypso St. Barth, Bantu, LensCrafters, BCBG, Sunglass Hut, Road Runner Sports, Soft Surroundings, J. Jill, Goldberg’s Deli, J. McLaughlin, Boston Proper, Lou & Grey and Columbia Sportswear. Avalon is set to open to the public on Oct. 30.
MONTGOMERY, ALA. — The Shopping Center Group has arranged the sale of two retail centers in Montgomery totaling $14.4 million. Atlanta-based Monarch Investments purchased both the 165,114-square-foot Promenade Montgomery and the 43,500-square-foot Promenade Montgomery North. The two assets are located approximately 1,000 feet from one another. Kathy Dennis of The Shopping Center Group represented the seller, New York-based Garrison Investment Group, in the transaction. The Shopping Center Group will continue to lease the two retail centers on behalf of Monarch Investments.
CHARLESTON, S.C. — The Mumford Co. has brokered the sale of the 107-room Homewood Suites-Mt. Pleasant located on the Isle of Palms Connector at Seaside Farms in Charleston. Rupa LLC purchased the hotel from The Suites at Seaside LLC, the hotel’s developer, for an undisclosed price. Rupa has retained Chattanooga, Tenn.-based Vision Hotel Group to manage the asset and oversee the property’s renovation. David Mumford of The Mumford Co. represented the seller in the transaction.