PLANO, TEXAS — Global Real Estate Advisors (GREA) has negotiated the sale of Bellevue at Spring Creek, a 278-unit apartment complex located northeast of Dallas in Plano that was originally built in 1982. According to Apartments.com, the property offers one- and two-bedroom units that range in size from 704 to 1,247 square feet. Amenities include two pools, a fitness center, playground, tennis court and a business center. The buyer was Dallas-based investment firm The ValCap Group, and the seller was not disclosed. Bellevue at Spring Creek was roughly 90 percent occupied at the time of sale.
HOUSTON — World Emblem has signed a 72,000-square-foot industrial lease in northwest Houston. The Florida-based patch and insignia manufacturer is relocating and expanding from a nearby, 35,000-square-foot space to the building at 6740 Signat Drive. About 140 employees will work at the plant to start, and the company plans to reshore 50 jobs and add up to 100 additional staff at the facility, which will initially produce up to 500,000 emblems and patches per week. No third-party brokers were involved in the lease negotiations.
CARROLLTON, TEXAS — FireTron Inc. has renewed its 15,486-square-foot lease at an industrial flex property in the northern Dallas metro of Carrollton. The provider of fire protection equipment will remain at Avion Business Center, which according to LoopNet Inc. was built in 1984 and totals 24,944 square feet. Jason Finch of Bradford Commercial Real Estate Services represented the landlord in the lease negotiations. Tyler Maner and Will Mason of Stream Realty Partners represented the tenant.
BOSTON — A partnership between local nonprofit organization Castle Square Tenants Organization (CTSO) and regional owner-operator WinnDevelopment has begun the $40 million repositioning of Eva White Apartments, a 102-unit affordable housing complex in Boston’s South End. The project will encompass upgrades to unit interiors and the creation of new amenity spaces, as well as energy system retrofits to the property’s two seven-story buildings. Specifically, each of the property’s 34 studios, 57 one-bedroom units and 11 two-bedroom units will be improved with modern kitchens, bathrooms and living room flooring. New health and wellness spaces and a new fitness room will be created for residents. The current common laundry room, community room and management office will also be renovated. Bank of America, MassHousing and Citizens Bank are financing construction, with BoA also serving as the federal Low-Income Housing Tax Credit investor. Completion is scheduled for 2026. Eva White Apartments originally opened in 1967 and serves seniors and people with disabilities. The Boston Housing Authority holds a 99-year ground lease on the complex, which protects the property’s long-term affordability status. CSTO became the 99 percent owner of the property in December after securing the financing for the project. This venture marks the organization’s …
PHOENIX — An affiliate of Cohen Asset Management has completed the sale of Riverside 43, a modern industrial building located at 2200 S. 43rd Ave. in central Phoenix, to Karney Properties for $34.2 million. Central Admixture Pharmacy Services fully occupies the 250,043-square-foot building, which was built in 2017. Situated on 16 acres, the building features a clear height of 36 feet, cross-dock loading, excess trailer storage and concrete truck courts with full-building circulation and multiple points of ingress/egress. The interior of the building has been configured with improvements tailored to the current tenant’s operations, including advanced HVAC systems and enhanced power capabilities. Will Strong, Molly Hunt, Michael Matchett, Jack Stamets and Madeline Warren of Cushman & Wakefield’s National Industrial Advisory Group — Mountain West represented the seller in the deal.
ALBUQUERQUE, N.M. — Los Angeles-based Westwood Financial has sold Wyoming Mall, a 51,713-square-foot retail center in Albuquerque. Walmart Supercenter anchors the property, which was 96 percent leased at the time of sale. Other tenants include Raising Cane’s, Starbucks Coffee, Krispy Kreme, Dollar Tree, Great Clips and Chick-fil-A. The Chick-fil-A outparcel at the property was not included in the sale. Curbline Properties Corp. was the buyer.
VANCOUVER, WASH. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the partial interest sale of Maple Ridge, a multifamily property in Vancouver. Glencrest Group purchased a partial interest in the community for an undisclosed price. Built in 1995, Maple Ridge features 116 apartments with an average size of 1,025 square feet. Apartments feature central air conditioning, gas fireplaces and lofted ceilings on top floor units. Anthony Palladino, Giovanni Napoli, Philip Assouad, Ryan Harmon and Nick Ruggiero of IPA represented the seller and procured the buyer in the deal.
FAIRFIELD, CALIF. — BH Properties has acquired a dual-building, multi-tenant retail property located at 1370-1380 Holiday Lane in Fairfield for an undisclosed price. The 24,064-square-foot property consists of two buildings situated on a 2.3-acre parcel. At the time of sale, the center was 58 percent vacant. Current tenants include Aspen Dental, Peet’s Coffee & Tea, Togo’s Sandwich Shop and Golden 1 Credit Union.
ARVADA, COLO. — Unique Properties Inc./TCN Worldwide has arranged the sale of a warehouse facility located at 5540-5565 Gray St. in Arvada. The property traded for $2.6 million, or $175 per square foot. The new ownership plans to initially occupy 2,500 square feet of the 15,000-square-foot building, which was 16 percent occupied at the time of sale. Michael DeSantis and Brett MacDougall of Unique Properties/TCN Worldwide handled the transaction.
DELANCO, N.J. — NAI Mertz has negotiated the sale of a 273,000-square-foot industrial facility in Delanco, located in Southern New Jersey. The building at 800 Coopertown Road, which was fully leased at the time of sale, features a clear height of 22 feet, 130-foot truck court depths and ample automobile and trailer parking space. A partnership between regional investment firm DH Property Holdings and New York City-based DRA Advisors purchased the building from Soho Studio Corp. for an undisclosed price. Scott Mertz of NAI Mertz brokered the deal.