HOUSTON — Henry S. Miller Brokerage has arranged the sale of the Campbell Road Shopping Center in the Northwest Spring Valley suburb of Houston on behalf of W&B International. The 46,224-square-foot property is situated on 1.06 acres at 1012 Campbell Road. Bruce Jester of Henry S. Miller represented the seller. Matthew Goldsby of Belovoir Real Estate Group LLC represented the buyer, Dr. Suhyun Ahn of C1 Health Care Management LLC, who plans to convert the center to a chiropractic clinic.
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LEWISVILLE, TEXAS — The Weitzman Group and Cencor Realty Services have arranged a lease for the first Dallas/Fort Worth metro area location of WinCo, a Boise, Idaho-based discount grocery chain. The store will occupy 85,000 square feet at the Old Orchard Village East shopping center in Lewisville, which will undergo extensive renovations in conjunction with the new tenant’s arrival. Old Orchard Village East was originally anchored by Walmart after its development in the 1970s. Current tenants include Hancock Fabrics, The Leather Sofa Co., Fuzzy’s Taco Shop and more. Matt Luedtke and Blake Shipp of the Weitzman Group, along with Cencor’s David McNeil, represented property owner Old Orchard LLC in the negotiations. Don Woodbury of DWC Commercial and McGregor Converse of Venture Commercial represented WinCo.
IRVING, TEXAS — CBRE has arranged a 45,583-square-foot lease in the Irving submarket of Las Colinas for Neovia Logistics Services, which will relocate its headquarters from Illinois to this facility. Neovia, which provides supply chain solutions in various industrial, manufacturing and healthcare sectors, announces the move less than a year after its rebranding from Caterpillar Logistics Services. The tenant will partner with architecture firm Perkins + Will to customize and build-out the space, which is located at 6363 N. State Highway 161. Josh White and Chelby Sanders of CBRE represented Neovia in the lease negotiations.
TRACY, CALIF. – The West Valley Mall in Tracy has received a $52-million refinance. The 886,903-square-foot shopping center is located at 3200 Naglee Road along I-205, which connects the San Francisco Bay Area with San Joaquin County. The mall is anchored by Macy's, Target, Sears and JC Penney. Other notable tenants include Bath and Body Works, Foot Locker, The Children's Place, Victoria's Secret and Zumiez. The non-recourse mortgage carries a floating interest rate of LIBOR plus 175 bps. It matures in five years, and includes a five-year extension option. The mall is owned by Rouse Properties.
LONE TREE, COLO. – The 208-unit Regency at RidgeGate apartment complex in Lone Tree has received $22.5 million in financing. The community is located at 10320 Commonwealth Street southeast of Denver. It was 88.5 percent leased at the time of funding. The 25-year, fully amortizing loan carries a fixed rate of 4.55 percent. The loan was funded prior to full stabilization. Proceeds will replace the property’s maturing construction financing. The community was completed this past August. Financing was arranged by HFF’s Eric Tupler, Josh Simon and Leon McBroom through Nationwide Insurance, a correspondent lender. HFF worked on behalf of Regency Residential Partners.
CARLSBAD, CALIF. — Drawbridge Realty Trust has purchased Pacific View Corporate Center, an 80,862-square-foot office building in Carlsbad, for $22.3 million. The Class A building is located at 5759 Fleet Street within the Carlsbad Ranch subdivision. It is fully leased to Synteract and RF Micro Devices. Drawbridge was represented by Rick Reeder, Joe Anderson and Dennis Visser of Cassidy Turley. The seller, TA Associates Realty, was represented by Jeff Cole, Ed Hernandez, Michael Roberts and Brunson Howard of C&W Capital Markets Division.
DENVER — Artis Real Estate Investment Trusthas purchased 161 Inverness, a 256,767-square-foot trophy office building in Denver that is fully leased to DirecTV, for $71 million. The Class A building is situated within the Inverness Business Park. It was built in 1997 and sits adjacent to the pedestrian bridge for the Dry Creek Station, which offers light rail access.
CAMPBELL, CALIF. — Rockwood Capital and Four Corners Properties have acquired Water Tower Plaza, a 100,000-square-foot office and retail property in Campbell, for an undisclosed sum. The plaza is located at 300 Orchard City Drive in the San Jose submarket.The building was originally constructed as the Hyde Cannery in 1887. It housed fruit and canning companies until 1971 when it was converted into a retail property. It became a mixed-use property that featured office and retail space in the 1980s. The seller was Water Tower 1, LLC.
LAS VEGAS — MVP REIT Inc. has purchased a 47,500-square-foot office building in Las Vegas for $15 million. The building is located at 8880 W. Sunset Road. It is fully leased to a mix of medical and professional tenants that include the corporate headquarters for MVP, which occupies 4,190 square feet. All tenants are under triple-net leases. This sale was part of a larger, five-property portfolio that was acquired by MVP for $48.6 million this past August.
LAKEWOOD, COLO. – The 41-unit Jewel Park apartment complex in Lakewood has sold to a local buyer for $2.3 million. The community is located at 8983 West Jewell Ave. It was built in 1971. Josh Newell of Pinnacle Real Estate Advisors represented both the buyer and the seller, Jewell 30, LLC, in this transaction.