SAN ANTONIO —Investment firm Silver Ventures Inc. and three: living architecture plan the extensive renovation of the historic Pearl Brewery brew house. The property, part of the 22-acre Pearl Brewery campus that now serves as a mixed-use development, will relaunch as Hotel Pearl in the summer of 2014. Designed by three in collaboration with Roman and Williams, the new hotel will offer 146 rooms plus dining, social and meeting spaces. Kimpton Hotels will manage Hotel Pearl.
MOUNTAIN VIEW, CALIF. – Google has agreed to lease space at the former Mayfield Mall in Mountain View. The mall is currently undergoing a transformation that will turn it into a 500,000-square-foot office campus. Construction on the Class A office complex should be completed in 2014. It is located at 100 Mayfield Ave. in Silicon Valley. The mall was originally built in 1966. Notable tenants included J.C. Penney, Wells Fargo Bank and the Mayfair Market grocery store. The mall is owned by a joint venture between Rockwood Capital, LLC and Four Corners Properties. Kevin Cunningham and Jack Troedson of Cornish & Carey Commercial Newmark Knight Frank represented the landlordin this transaction.
COMMERCE, CALIF. — KTR Capital Partners has purchased a four-property industrial portfolio in Commerce for an undisclosed sum. The 254,000-square-foot portfolio is located along 61st and Randolph streets. The buildings are 85 percent leased to six tenants. The disposition was handled by Mike Sidney, Mike Foley, John McMillan, Jeff Sanita, Jeff Chiate and Jeff Cole of Cushman & Wakefield. The seller was Erwin & Essie Appel Trust.
CARLSBAD, CALIF. — Drawbridge Realty Trust has purchased Pacific View Corporate Center, an 80,862-square-foot office building in Carlsbad for $22.2 million. The Class A center is located at 5759 Fleet Street in the Carlsbad Ranch area. It is fully leased to Synteract and RF Micro Devices. Drawbridge was represented by Rick Reeder, Joe Anderson and Dennis Visser of Cassidy Turley’s North San Diego office. The seller, TA Realty Associates, was represented by Jeff Cole, Ed Hernandez, Michael Roberts and Brunson Howard of Cushman & Wakefield.
LOS ANGELES — Paragon Commercial Group, LLC, has purchased the 112,649-square-foot Woodland Hills Shopping Center for an undisclosed sum. It was purchased through PCG Woodland Hills Topanga LLC, an affiliate of Paragon. The center is located at 6201-6263 Topanga Canyon Blvd. in the Los Angeles submarket of Woodland Hills. It sits across from Westfield’s two existing Warner Center malls, as well as the proposed Village at Westfield Topanga, which is designed to be a 1-million-square-foot retail and entertainment complex. The center was fully occupied at the time of sale. Notable tenants include Toys “R” Us, Office Depot and Off Broadway Shoes.This is Paragon’s second acquisition in the San Fernando Valley. Both the company and the seller, Woodland Hills Retail, LLC, were represented by Bill Bauman and Kyle Miller of Studley’s National Retail Services Group.
RIVERSIDE, CALIF. — Michaels Plaza, a 62,834-square-foot community shopping center in Riverside, has sold to The Krausz Companies for $15 million. The center is located at 10321-10357 Magnolia Ave. It was 97 percent leased at the time of sale. Notable tenants at the center include Michaels, David’s Bridal, Lamps Plus, AAA Gold Exchange, Armed Forces, GameStop and The Flame Broiler. Edward B. Hanley, William B. Asher and Kevin T. Fryman of Hanley Investment Group represented both the buyer and the seller, an Orange County, Calif.-based private partnership, in this transaction.
BELLEVUE, WASH. — Sharp Electronics Corporation has leased 13,472 square feet at Ridgewood Corporate Squareoffice complex in Bellevue. The seven-building, Class A park is located at 120th Avenue NE. Sharp was represented by Tom Wilson of Cushman and Wakefield. The seller, was represented by CBRE’s Scott Davis.
ATLANTA — Wood Partners has plans to break ground on a new multifamily project in Midtown Atlanta that will be the first high-rise in the area to solely use natural gas for heating, hot water and cooking. The property will be located on West Peachtree Street and will include approximately 20,000 square feet of retail space. Wood Partners is working with Atlanta Gas Light on the project. The development is within walking distance to the Midtown MARTA station, as well as Piedmont Park, Georgia Tech and Midtown Atlanta's central business district. The property will feature a resort-style pool deck, club rooms and an urban park/courtyard. Wood Partners expects to break ground on the project in the first half of 2014.
WEST PALM BEACH, FLA. — Taylor & Mathis has arranged a 12-year lease deal with Akerman Senterfitt LLC, Florida's largest law firm, for 40,000 square feet of office space in downtown West Palm Beach. In the $25 million deal, the law firm is leasing space for two-and-a-half floors at Phillips Point, a 500,000-square-foot office and retail complex located in West Palm Beach's central business district. Other notable tenants of Phillips Point include Global Capital Econometrix LLC, BMO Harris Bank, Goldman Sachs, Squire Sanders, Morgan Stanley and Greenberg Taurig. Brian Gale of Taylor & Mathis, along with Matt Cheezem of CRESA Partners, brokered the lease transaction.
LAKELAND, FLA. — Tampa, Fla.-based Blue Rock Partners LLC and Konover South LLC, have purchased the 220-unit Madison at Lake Gibson apartments in Lakeland for nearly $12 million. The property is located at 5233 U.S. Highway 98 N. and will be rebranded as The Park at Cortona. The partnership between Blue Rock and Konover South will spend approximately $1.8 million in exterior renovations in the next 12 months and interior renovations in the next 24 months. The partnership purchased the apartment community from Lake Gibson Apartment Associates LP. Cushman & Wakefield brokered the transaction. This is Blue Rock Partners' fifth Tampa Bay/Orlando acquisition in the past 12 months.