BEDFORD, TEXAS — Twisted Root, a gourmet hamburger restaurant chain, plans to open a new restaurant this weekend in the 42,000-square-foot Bedford Meadows retail center in Bedford. Addison-based Legacy Alliance Holdings owns Bedford Meadows and recently engaged The Retail Connection to handle the center's leasing. Twisted Root purchased the pad site in June 2012 from Legacy Alliance for the new restaurant.
CORSICANA, TEXAS — Marcus & Millichap has arranged the sale of the 243-unit Kenwood Apartments, located at 3242 Hillsdale St. in Corsicana. Michael Ware and William Jarnagin of Marcus & Millichap's Dallas office represented the seller, a private investor from California, in the transaction.
DALLAS — Colliers International has arranged an industrial lease expansion and renewal totaling 81,357 square feet at 4653 Leston Ave. in Dallas. Phil Rosenfeld and Matt Thompson of Colliers International represented the landlord, Regal Business Center, in the transaction. David Easterling of CBRE represented the tenant, Imlach & Collins Brothers LLC.
HOLLADAY, UTAH – The 366-unit Sandpiper Apartment Homes in Holladay has sold to Kennedy Wilson for an undisclosed sum. The community is located at 1492 East Spring Lane. The seller, DiNapoli Capital Partners LLC, was represented by Stan Jones, Phil Saglimbeni and Sal Saglimbeni of Institutional Property Advisors, a multifamily brokerage division of Marcus & Millichap. They were assisted by Danny Shin of Marcus & Millichap’s Salt Lake City office.
PHOENIX — Steak 44 has signed a 10-year lease for a 7,700-square-foot restaurant space inside the Camelback Village in Phoenix. The space was previously occupied by Cork ‘N Cleaver Restaurant. The upscale steakhouse is scheduled to open by fall 2013. Steak 44 is operated by the Mastro family, which created the Mastro’s and Ocean Club restaurant chains. It also operates Michael Dominick’s Steakhouse at Scottsdale Quarter. Steak 44 was represented by Josh Gosnell of Commercial Properties. The landlord, Camelback and 44th OPCO LLC, was represented by Randy Banchik and Joe Hoye of Westwood Financial Corp.
NEWPORT BEACH, CALIF. — A 376,000-square-foot, Class A office complex in Newport Beach has received a $55-million recapitalization loan. The two-building complex is located at 4000 MacArthur Blvd. It recently underwent a multi-million-dollar renovation. The loan was originated by Mesa West Capital through its Mesa West Real Estate Income Fund III on behalf of Emmes Asset Management. This was the first loan provided by this fund. Financing was arranged by Jonathan Firestone and J.P. Leveque of Eastdil Secured.
MCKINLEYVILLE, CALIF. – A 100-unit assisted-living facility in McKinleyville has received a $4.4-million refinance loan. The facility is located on the Pacific Coast three miles north of Eureka. The non-recourse, FHA-insured loan has a 40-year term. It was funded by Huntoon Hastings, a wholly owned subsidiary of Johnson Capital. The loan was arranged by Rick Hayward of Johnson Capital’s San Francisco office on behalf of the borrower, a Northern California investment group.
LOS ANGELES – A $44-million acquisition loan has been provided for Midtown Shopping Center, a 185,000-square-foot retail center in Los Angeles. Notable tenants at the center include Ralphs, CVS and OSH. Financing was based on a three-year, interest-only term. It was arranged by Ory Schwartz of NorthMarq Capital’s Los Angeles regional office through its relationship with a non-recourse bridge lender. The borrower was a private Los Angeles-based investor.
CHANDLER, ARIZ. — The Fairways, a 352-unit apartment community in Chandler, has sold to the Bascom Group for $35.2 million. Bascom completed the acquisition in conjunction with its local affiliate, Bascom Arizona Ventures LLC. The community is located at 777 West Chandler Blvd. on the San Marcos Golf Resort. The seller, Situs Holdings LLC, was represented by Cliff David and Steve Gebing of Marcus & Millichap’s Phoenix office.
COLUMBIA, S.C. — South Carolina United FC, the state's largest youth soccer club, has acquired 24.5 acres of land in Columbia to develop a facility consisting of six full-sized soccer fields and related amenities. The facility, located along the I-20 corridor, will serve as the club's central training facility for its junior academy and select-level soccer players. It will also serve as an additional venue for its recreational soccer players. Rob Lapin of NAI Avant represented the buyer in the transaction.
