SAN MARCOS, TEXAS — Mensor Corp., a manufacturer of pressure and temperature calibration devices, has started construction on a new 45,000-square-foot flex facility in San Marcos, a northeast suburb of San Antonio. The $7.5 million building has broken ground next to the company’s existing 26,000-square-foot facility, which may be demolished following completion of the new development. The Greater San Marcos Partnership, a public-private partnership focused on job creation and increased investment in the surrounding area, provided business expansion services for Mensor including site selection, demographic and tax analysis, as well as incentives. Mensor expects the new facility to open in the fall of 2014.
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VANCOUVER, WASH. — Kennedy Wilson and its partners have acquired The Pointe, a 388-unit apartment community in Vancouver, for $39.5 million. The community is located at 3708 NE 109th Ave. in the Portland submarket. The seller was not named.
PACIFICA, CALIF. – The 97-room Best Western Plus Lighthouse Hotel in Pacifica has changed hands. The hotel is located at 105 Rockaway Beach Ave. just 25 minutes south of Downtown San Francisco. The seller, Invest West Financial Corporation, was represented by Henry Bose and Mark McDermott of CBRE Hotels. The buyer was not named.
MURRAY, UTAH — MIG Real Estate has purchased the Mountain View Corporate Center, an 84,421-square-foot office building in Murray, for an undisclosed sum. The Class A center is located at 756 and 764 East Winchester Street near Downtown Salt Lake City. It is currently 91 percent leased. Notable tenants include Motorola and Liberty Mutual. Though this is MIG’s first acquisition in Greater Salt Lake, it is the firm’s 18th office investment. MIG is focusing on well-located properties with value-add components. The unnamed seller was represented by Cushman & Wakefield/Commerce Real Estate Solutions.
CHANDLER, ARIZ. — PHX Arizona 2012, LLC, has purchased the 289-unit Villamora apartment complex in Chandler for $32.9 million. The community is located at 2150 South Arizona Ave. near the Arizona Railway Museum and Tumbleweed Recreation Center. It is also situated near the offices of Intel Corporation, Chandler Regional Medical Center, Orbital Sciences Corporation and PayPal. The garden-style complex was built in 2001.The property was acquired from PM Olive Grove Chandler, LLC. The transaction was executed by Mark Forrester and Ric Holway of Hendricks-Berkadia.
DENVER – The 110-room Hotel Teatro in Denver has received $22.5 million in refinancing. The hotel is located at 1100 14th Street near the Colorado Convention Center in the city’s Central Business District. The historic building was constructed in 1911. It formerly served as the executive offices of the Denver Tramway Company until it underwent a $20.6-million conversion to a hotel in 1999. The property was acquired by DiNapoli Capital Partners in 2006. The company will use the funds to refinance the property’s existing first mortgage and to upgrade the hotel. Financing was arranged by Brad Zampa and Nathan Elliott of CBRE Capital Markets. The loan was originated by Ronnie Gul of Mesa West Capital.
ALISO VIEJO, CALIF. — Aliso Viejo Medical Center, a 27,192-square-foot medical office building in South Orange County, has sold to a private equity fund for an undisclosed sum. The Class A building is located at 24502 Pacific Park Drive in Aliso Viejo. Kaiser Permanente serves as the center’s main tenant. It signed a five-year lease renewal this past August. The buyer was represented by Guggenheim Realty Group. The seller, Accretive Realty, was represented by Garth Hoganand Todd Perman ofNewmark Grubb Knight FrankGlobal Healthcare Services. They worked in conjunction with Richard Bland of Cornish & Carey Newmark Knight Frank.
NEW ORLEANS — HRI Properties has selected Roy Anderson Corp., a subsidiary of Tutor Perini Corp., to build the 225 Baronne mixed-use development project in New Orleans. The contract for the development is valued at $61.3 million. The development involves the conversion of an existing 31-story office building into an apartment project, hotel and public parking garage. The new development will feature on-site property management services, a fitness center, roof-top swimming pools and covered bicycle parking. The project will also include the demolition of the 919 Gravier Building. Roy Anderson Corp. will break ground on the project this month and will wrap up construction in December 2014.
ORLANDO, FLA. — CBRE has arranged the sale of an apartment portfolio totaling 1,596 units in Central Florida. The properties included in the transaction are Wingwood, Sky Pines and Branchwood in Orlando; Applewood in Deland; Oak Shade in Orange City; Nova Glen, Nova Wood, Countryside and Volusia Crossing in Daytona Beach; and Kings Crossing, Stonewood and Pelican Pointe in Jacksonville. Shelton Granade, Luke Wickham and Justin Basquill of CBRE’s Orlando office, along with Brian Moulder and Dhaval Patel of CBRE’s Jacksonville office, represented the seller in the transaction. All 12 apartment communities sold to an Atlanta-based multifamily owner and operator.
BALTIMORE — NexCore Group LP, a national healthcare real estate developer, has completed a $24 million outpatient facility in Baltimore. The facility, the Angelos Medical Pavilion, is located on the campus of Saint Agnes Hospital, which recently underwent a $200 million renovation and expansion. The four-story, 85,800-square-foot Angelos Medical Pavilion is part of the campus expansion. The new facility houses physician office space, clinic space and hospital programs such as the Saint Agnes Cancer Institute and the Saint Agnes Cardiovascular Institute.