EDISON, N.J. — Home City Inc., an Egyptian linens distributor, has signed a 80,000-square-foot, long-term lease at Heller Industrial Park in Edison. Home City will relocate from its current location in Linden. The facility, which is located at 180 Mill Road, features 32-foot clear ceilings, 10 loading docks and trailer parking. Jordan Metz, vice president of Bussel Realty Corp., arranged the lease.
DALLAS — Wood Partners has broken ground on Alta Maple Station, a $36.3 million, 249-unit apartment community in downtown Dallas. The property, located at 5522 Maple Ave., allows for easy access to the Dallas Area Rapid Transit system and major area employers Parkland Hospital, University of Texas Southwestern and Southwest Airlines. Amenities such as a resort-style pool, fitness center and media lounge will be included in the complex. Leasing is scheduled to begin in late 2014, and construction is slated for completion in early 2015. Wood Partners is acting as both developer and general contractor on the project. Good, Fulton & Farrell Architects is serving as the architect.
PASADENA, TEXAS — Marcus & Millichap has brokered the sale of a 15,908-square-foot office building in Pasadena, approximately 14 miles southeast of downtown Houston. The building, located at 2702-2706 Cherrybrook Lane and previously occupied by the State of Texas, had a list price of $1.3 million. Justin Miller and Derek Hargrove of Marcus & Millichap’s Houston office represented the seller, a Houston-based limited liability company, and also secured the buyer, a Rio Grande Valley-based limited liability company.
DALLAS — Panther FW Investments LLC has sold Arbor Vista, a 196-unit Class B multifamily property in Dallas, to an out-of-state buyer. The community, located at 9850 Whitehurst Drive, offers studio, one-, two- and three-bedroom floor plans plus amenities such as commercial-grade playgrounds, barbecue and picnic areas and a clothes care center. After purchasing the asset in 2010, Fort Worth-based Panther held the complex for approximately 30 months.
HOUSTON — NAI Houston has arranged the lease of 30,757 square feet of warehouse space in Houston’s Northwest Industrial submarket for Sunny Sky Products LLC. Located at 1234 Silber Road, the facility is in close proximity to Interstate 10/Katy Freeway. John Ferruzzo of NAI represented the tenant — which provides a number of dispensed beverage products to convenience stores, restaurants, supermarkets and other clients — in the negotiations. Edward Bane, also of NAI, represented the landlord, Quasar Silber LTD.
COMMERCE, CALIF. – A 90,000-square-foot industrial facility in Commerce has sold to ID USA for $6.6 million. The facility is located at 6557 Flotilla Street. ID USA plans to occupy and expand its operations at the new facility. The seller, Flotilla Street Property, LLC, was represented by John McMillan, Jeff Sanita and Timothy Wallace of Cushman & Wakefield.
GOODYEAR, ARIZ. — Palm Valley Pavilions East, a 35,199-square-foot retail center in Goodyear, has sold to Claxton Real Estate LP 1 for $4.8 million. The center is located at SE McDowell and Litchfield roads. The buyer was represented by Tivon Moffitt and Peter Bauman with Colliers International. The seller, MEI Properties LLC, was represented by Andrew Fosberg, Steve Fernandez and Joseph Compagno of CBRE’s Phoenix office.
LOS ANGELES — Reseda Plaza, a 10,000-square-foot shopping center, has sold to Collins 36 Ltd. for $4 million. The center is located at 18300 Vanowen in the Los Angeles submarket of Reseda. The buyer was represented by Paul Kenworthy of Charles Dunn Company. The private seller was represented by Cheryl Pester of NAI Capital.
LOS ANGELES — Mack Urban and AECOM Capital have purchased six acres of land in Downtown Los Angeles’ South Park district for more than $80 million. This transaction represents the largest land acquisition by acreage in the Central Business District prior to the start of the 2008 economic recession, according to Mack Urban. The partnership plans to develop high-rise towers on the land. The project is currently in the planning and design phase. A groundbreaking is scheduled for late 2014, while completion of the final phases is slated for 2024. The project will be designed by AC Martin Partners. The seller was EVOQ Properties. AECOM Capital is the investment fund of AECOM Technology Corporation.
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.
