DALLAS — SkyWalker Property Partners has acquired the historic Hughes Brothers Candy Factory property, located at 1401 S. Ervay St. in Dallas. Acting on behalf of the Hangover Opportunity Fund, SkyWalker plans to invest approximately $3.2 million into the conversion of the facility into apartments. The five-story building totals 7,000 square feet in The Cedars, one of the city’s oldest neighborhoods. Theron Bryant of SCM Real Estate Services brokered the transaction. Frieda Bosh, mother of Miami Heat forward and Dallas native Chris Bosh, was the seller.
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CEDAR PARK, TEXAS — Cadence McShane Construction Co. has completed Scottsdale Crossing Building One, a speculative light industrial/office flex property totaling 27,500 square feet in Cedar Park, approximately 20 miles north of Austin. Located at 5900 Highway 183-A, the property is part of developer TIG Real Estate Services’ larger Scottsdale Crossing Commerce Park development. Built for a single or multiple tenants, the single-story facility features a tiltwall panel exterior, overhead dock doors and aluminum windows. Studio 8 Architects, based in Austin, provided architectural services for the project.
UNION CITY, CALIF. — The former Chronicle Printing Plant in Union City has sold to Westcore Properties for an undisclosed sum. The plant is located at 1550 Pacific Street. The building will be demolished to make way for a 300,000-square-foot manufacturing and distribution redevelopment that will cater to food production and distribution. Westcore was represented by Kevin Hatcher, Mark Maguire and Greig Lagomarsino of Colliers International in Oakland. The seller, Hearst Communications, was represented by John McManus and Andrew Briner of Cushman and Wakefield.
LOS ANGELES – The eight-unit Brockton Regency in Los Angeles has sold to the Gleitman Family Trust for $3.3 million. The community is located at 1251 Brockton Ave. It was built in 1986. Paul Kenworthy of Charles Dunn represented both the trust and the seller, Dr. Patrick Shoon Shiong, in this all-cash transaction.
LAKEWOOD, COLO. – A trio of apartment buildings located on Allison Street in Lakewood have sold to an unnamed buyer for $1.7 million. The communities are located at 1160, 1180, & 1198 South Allison Street. They comprise a total of 19,656 square feet, and all three were built in 1962. The buyer was represented by Matt Lewallen and Kevin Calame of Pinnacle Real Estate Advisors. The unnamed seller was represented by Matt Ritter, also of Pinnacle.
BELLEVUE, WASH. — Madison Marquette’s newest investment vehicle has purchased Bellevue Galleria, a 202,000-square-foot, mixed-use property, for a reported $88 million. It is located at 550 106th Ave. NE in Bellevue. Bellevue Galleria contains a mix of retail and creative office space. It is currently 97 percent leased.The investment vehicle is composed of a joint venture with two foreign institutional investors. Its goal is to build a national portfolio of infill retail and mixed-use assets in key markets throughout the nation.
SACRAMENTO, CALIF. — Curtis Park Village, a 71-acre, mixed-use development in Sacramento, has received a $41-million refinance. The vacant land is currently entitled for 181 single-family homes, 334 multifamily units, three commercial sites, open space, parks and public property. It is located at the intersection of Sutterville Road and 24th Street near Sacramento City College. The land is an infill location between Land Park and Curtis Park. It was formerly home to the Western Pacific rail yard. Petrovich Development acquired the site in 2003 and has spent more than $30 million over the past decade to clean up and entitle the site for development. It recently began Phase I infrastructure construction, which should be complete by next April. The full recourse senior loan was provided by PCCP, LLC. It will be used to refinance an existing senior loan and to provide future funding for the infrastructure’s completion.
LOS ANGELES — The Mercer at Warner Center, a 477-unit multifamily complex in the Los Angeles submarket of Woodland Hills, has sold to a private investor for $88 million. The community is located at 22100 Erwin Street.The sale completes a 1031 exchange for the buyer, who acquired the property in an up-leg exchange for Crenshaw Village, a $60-million, 669-unit apartment portfolio in the Los Angeles submarket of Baldwin Hills. That sale closed last month.The institutional seller was represented by Greg Harris, Ron Harris, Kevin Green and Joseph Grabiec of Institutional Property Advisors. Financing was arranged by Danny Abergel of Marcus & Millichap Capital Corp.
WILMINGTON, N.C. — Marcus & Millichap has arranged the sale of The Forum, a 105,000-square-foot boutique retail center located at 1125 Military Cutoff Road in Wilmington, for $24.7 million. Lori Schneider of Marcus & Millichap’s Fort Lauderdale office represented the seller, Swain & Associates, the developer of The Forum. Schneider also represented the buyer, L&B Realty Advisors LLP, a Texas-based pension fund advisor.
LILBURN, GA. — Kimco Realty Corp. has purchased Five Forks Crossing, a 73,910-square-foot, grocery-anchored retail center located at 3050 Five Forks Trickum Road in Lilburn, a suburb of Atlanta. Kimco acquired the fully leased center for $10 million. Kroger anchors the center, which also includes Coast Dental, The UPS Store, Wood Eye Care and Great Clips on its tenant roster. Fred Victor of Transwestern represented the seller, SWA Investment, in the transaction. Kimco was represented internally by Ross Cooper.