SAN ANTONIO — Marcus & Millichap has arranged the sale of the Waters at Northern Hills, a 304-unit multifamily community at 4031 Thousand Oaks Drive in San Antonio. The property, set on a private lake, includes a mix of one- and two-bedroom apartments plus a fitness center, wooded picnic area and swimming pool. Will Balthrope, Scott Lamontagne, Zar Haro and Michael Moffitt of M&M represented the seller, a 501(c)(3) not-for-profit company.
HOUSTON — NAI Houston has brokered the sale of a 37,500-square-foot warehouse at 8200 Telephone Road in Houston. The property is located on a 2.7-acre lot in the South Highway 35 industrial submarket. NAI’s John Ferruzzo and Clay Pritchett represented the seller, Eastpark Partners Limited, while Doyle Toups of Moody Rambin Interests represented the buyer, DSDY Real Estate LLC.
IRVING, TEXAS — The Debt and Equity Finance Group of CBRE Capital Markets has secured $8 million in financing for 1212 Corporate Drive in Irving, a multi-tenant office asset of Libitzky Holdings LP. The 124,128 square-foot property, located in the Las Colinas neighborhood, was built in 1982 and renovated in 2008 and 2009. Libitzky has owned the building since 2011. Greg Greene, Matt Ballard and Patrick Benoist of CBRE’s Dallas office arranged the terms of the 10-year, fixed-rate loan.
HOUSTON — A second Houston location of the Yucatan Taco Stand and Tequila Bar has been confirmed for 1001 Studewood Street No. 1 in Houston. The company has signed a retail restaurant property lease for a total of 4,900 square feet, of which Yucatan will occupy 3,200 square feet. The operator will use the remaining space for a concept yet to be named. Christopher Dray of Moody Rambin represented the landlord, The Omaha & South Texas Land Company LLC. Mark Raines of CBRE represented the tenant.
PHOENIX — The Retreat, a 480-unit apartment community in Phoenix, has sold to Bridge Investment Group Partners for an undisclosed sum. The community is located at 20808 North 27th Ave. The seller, a publicly traded REIT, was represented by Steve Gebing and Cliff David of Marcus & Millichap’s Phoenix office. The buyer acts as manager of the ROC Fund.
CAMPBELL, CALIF. – The 121-unit Campbell Plaza Apartments has sold to The Bascom Group for $27.6 million. The community is located at 710 Nido Drive in the San Jose submarket of Campbell. The seller, Spieker Companies, was represented by Stanford Jones, Salvatore Saglimbeni and Philip Saglimbeni of Institutional Property Advisors.
REDMOND, WASH. – Redmond Town Center, a 695,000-square-foot, mixed-use urban shopping center, has sold to a fund managed by DRA Advisors LLC and JSH Properties for an undisclosed sum. It is located at 7525 166th Ave NE in Redmond. The open-air center is set to undergo a series of upgrades to make it more pedestrian-friendly. Notable tenants at the center include Ann Taylor, REI, Bed Bath & Beyond, Macy’s, Chico’s, The Gap, The MAC Store, Victoria Secret and Cost Plus World Market. Charming Charlies, 24 Hour Fitness and Jersey Mikes are set to open at the center this fall.
LOS ANGELES — Whole Foods Market has announced plans to open a 42,000-square-foot flagship location on the ground floor of a new 700-unit apartment complex in Downtown Los Angeles. The complex will be located at 770 S. Grand Ave. It is being developed by Carmel Partners (Carmel Partners Investment Fund IV) and is expected to open in 2015.
LOS ANGELES – A 14,655-square-foot office building in Los Angeles has sold to Park View Dream LLC for $2 million. It is located at 2351 West 3rd Street. The buyer plans to relocate its real estate investment and management business to the building. It will lease out the remaining space. The seller, Building Industry Credit Association, was represented by David Fults and Brian McLoughlin of Voit Real Estate Services’ Los Angeles office.
RALEIGH, N.C. AND NASHVILLE, TENN. — Philadelphia-based Lubert-Adler has sold two hotels in Raleigh and Nashville totaling 648 rooms to New York City-based Carey Watermark Investors for $156.6 million. Lubert-Adler sold the 400-room Marriott Raleigh City Center for $83 million and the 248-room Hutton Hotel in Nashville for $74.3 million. The Marriott Raleigh City Center was developed through a public-private partnership with the city of Raleigh in conjunction with the city's new 500,000-square-foot convention center. Hutton Hotel was an adaptive re-use project of a 170,000-square-foot Class C office tower in Nashville's West End.