SALT LAKE CITY — Big O, an automotive tire distributor, has signed a lease renewal for more than 100,000 square feet at Summit Distribution Center in Salt Lake City. The 275,000-square-foot facility is located just south of the Salt Lake City Airport. The center is owned by Chambers Street Properties.
ELOY, ARIZ. — ElrusUSA Limited has signed a five-year lease for a 71,708-square-foot manufacturing building in Eloy. The building is located at 924 N. Tweedy Road. Elrus was represented by Kevin Lange of Cushman & Wakefield in Phoenix. The landlord, Sky Cast Properties LLC, was represented by Pat Feeney, Dan Calihan and Rusty Kennedy in CBRE’s Phoenix office.
LOS ANGELES – CohnReznick has leased 22,000 square feet in Century City. The new lease will allow the accounting firm to consolidate its former JH Cohn operations, which currently resides at Wilshire Landmark in Brentwood. The new office space is located at 1900 Avenue of the Stars in the Los Angeles submarket of Century City. CohnReznick will occupy the entire 28th floor of the building. The firm was represented by Dave Toomey, Carlo Brignardello and Brian Davies of Cresa Los Angeles. The landlord, Duesenberg Investment Company, was represented by Darren Bell of Topa Management Company.
GOLDEN, COLO. – The 196-unit Canyon Point Cottages in Golden has received $25.5 million in refinancing. The community is located at 303 Jackson Drive just northwest of Denver. It was acquired by an affiliate of MIG Real Estatein 2012. The 35-year, fixed-rate, fully amortizing loan was originated by Bill Chiles and Scott Peterson of CBRE’s Debt & Equity Finance office in San Diego, who partnered with Mary McDonald of CBRE HMF’s San Francisco office. It was funded through CBRE’s FHA-insured permanent loan program via CBRE Group’s direct HUD FHA lender.
LA HABRA, CALIF. – The 111-unit Il Pompeii Apartments in La Habra has sold to a local capital buyer for $19 million. The community is located at 861 Glencliff Street. It consists of 11 separate buildings that were originally constructed in 1969. The unnamed seller was represented by Stewart I. Weston, W. Michael Cavner and John L. Nguyen of Institutional Property Advisors, a multifamily brokerage division of Marcus & Millichap.
CARSLBAD, CALIF. — Ocean Villas at Carlsbad, a 9,300-square-foot apartment building in the San Diego submarket of Carlsbad, has sold to a limited liability company for $7.3 million. It is located at 2895 Ocean Street on the Carlsbad State Beach. The property currently operates as vacation rentals. Aaron Bove and Ben Tashakorian of Marcus & Millichap’s San Diego office represented both the buyer and the seller, also a limited liability company, in this transaction.
NORTH MYRTLE BEACH, S.C. — Burroughs & Chapin Co. Inc. has purchased the Barefoot Landing entertainment complex, which features more than 100 specialty stores and restaurants surrounding a 27-acre lake along Highway 17 in North Myrtle Beach. The purchase price was $43 million, according to The Post and Courier. The property opened in 1988 and was one of the first outdoor festival shopping concepts along the Grand Strand, a stretch of beaches extending 60 miles along the East Coast. Barefoot Landing attracts nearly 7 million visitors annually. The acquisition includes all of the buildings and land within the main complex. The three outparcels will remain independently owned, yet the entire property will continue to be marketed as one entertainment destination.
WASHINGTON, D.C. — Camden South Capitol, a 276-unit apartment community, has opened at 1345 S. Capitol St. in Washington, D.C. The property is a short walk from the Navy Yard Metro Station and is across from Nationals Park. Rents range from $1,288 per month for the smallest studio floorplan to $3,225 per month for the largest two-bedroom, two-bath residence. Amenities include a rooftop pool lounge with views of the Capitol and 24-hour concierge service. Camden Property Trust owns the property.
DURHAM, N.C. — Medline Industries Inc. has expanded its lease to a total of 324,536 square feet, and is now occupying the entire CenterPoint I building at 1805 T.W. Alexander Drive in Durham. Centerpoint I is located within the Research Triangle Region, near the Durham Freeway/I-40 interchange. Medline is a privately held manufacturer and distributor of healthcare supplies. Hooker Manning of Duke Realty and Jackson Rives of Cushman & Wakefield | Thalhimer represented the landlord, Duke Realty, in the transaction.
BRADENTON, FLA. — Berkeley Point Capital has arranged a $10.9 million loan for the acquisition of Braden Lakes Apartments, a 264-unit, garden-style apartment community in Bradenton. Prior to the financing, the property was bank-owned for several years. The property is 97 percent occupied. Brian Kochan led the Berkeley Point team in arranging the seven-year Freddie Mac loan, which includes a 30-year amortization schedule.