SPRING, TEXAS — Marcus & Millichap has brokered the sale of an 82,952-square-foot retail building leased to The Antique Gallery of Houston in Spring. The store is located at 21127 Spring Towne Drive. The property's list price was $2.875 million. Jerry Goldstein of Marcus & Millichap's Houston office represented the seller, a partnership, in the transaction. Goldstein also secured and represented the buyer, a private investor.
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THE WOODLANDS, TEXAS — Cycles TX has plans to open its first bicycle and accessories store in Texas at The Waterway Square District in The Woodlands Town Center. The store will be located at 1501 Lake Robbins Drive in The Waterway Square parking garage. Brent Everson of Everson Developments LLC represented Cycles TX in the lease transaction. Rip Reynolds of The Howard Hughes Corp. represented the landlord, The Woodlands Development Co., a subsidiary of The Howard Hughes Corp.
VAN NUYS, CALIF. – The 52-unit Terraces at the Lake in Van Nuys has sold to a private capital investor for $9.2 million. The community is located at 16550 Vanowen Street. Warren Berzack and Stephen Geiger of The Berzack Group and Lee & Associates-LA North/Ventura represented both the buyer and the seller, another private capital investor, in this transaction.
CHULA VISTA, CALIF. — L Street Self Storage Park, an 86,770-square-foot self-storage facility in Chula Vista, has received $6.3 million in permanent financing. The non-recourse loan features a 10-year term with a 30-year amortization period. It was arranged by James Dick of Newmark Realty Capital.
ALBUQUERQUE – The 80-unit Highland Park Apartments in Albuquerque has received a $3-million acquisition loan. The loan features a 4.13 percent interest rate, a 10-year, fixed-rate term and a 25-year amortization period. It was originated by Matt Stevens of Alliant Capital LLC.
SALT LAKE CITY – The 27-unit Victoria House Apartments in Salt Lake City has received a $1-million refinance loan. The loan features a 4.28 percent interest rate, a 10-year, fixed-rate term and a 30-year amortization period. It was originated by Matt Stevens of Alliant Capital LLC.
SAN PEDRO, CALIF. – The 107-unit La Corona Del Mar Apartments in San Pedro has received $6 million in refinancing. The loan features a 3.87 percent interest rate, a 10-year, fixed-rate term and 10 years of interest-only payments. It was originated by Don Frankman of Alliant Capital LLC.
WEST COVINA, CALIF. – A 42,000-square-foot Ashley Furniture HomeStore has opened at Eastland Center in West Covina. The stand-alone building was previously occupied by Babies “R” Us. It is located 2753 E. Eastland Center Drive. Ashley was represented by Hodgdon Realty Group and Cole Real Estate Investments in this lease transaction. The Hodgdon Group also handled the entitlements and served as the design-build contractor on the building.
GILBERT, ARIZ. — Air Transport Components has signed a 123-month lease for a 62,413-square-foot manufacturing facility in Gilbert. The facility is located at 900 N. Fiesta Blvd. The company will be consolidating from 53,000 square feet at two facilities. The transaction was executed by Bob Kling and Dave Johnson of Lee & Associates Arizona.
PHOENIX —AAA Northern California, Nevada & Utah Insurance Exchange has signed a 40-month lease for 41,752 square feet at Black Canyon Corporate Center in Phoenix. The building is located at 16404 N. Black Canyon Highway. It is now fully occupied. AAA was represented by Wally Hale and Kevin Mechelke of Jones Lang LaSalle. Black Canyon’s landlord, Parallel Capital Partners, was represented by John Bonnell and Brett Abramson, also of Jones Lang LaSalle.