DALLAS — L'Oreal USA has selected Alliance Architects Inc. to design its new 513,947-square-foot distribution center, which will be located on a 50-acre site within the Ridge Logistics Center in Dallas. The new facility will be situated on the corner of Telephone Road and Dallas Avenue. The property will have expansion capabilities of up to 400,000 square feet. The distribution center will include 13,000 square feet of office space, separate shipping and receiving areas, locker rooms and indoor/outdoor break areas. Ridge Property Trust is the developer for the build-to-suit property and Hill & Wilkinson are the general contractors. The Alliance design team includes Scott Meyer and Ashley Griffith.
AUSTIN, TEXAS — Stream Realty Partners has sold the 185,500-square-foot Plaza 35, an office building located at 12234 N. Interstate 35 in Austin's North Central submarket, to Karlin Real Estate. Stream Realty purchased the foreclosed property in 2011 before bringing it to full occupancy. Plaza 35's tenants include Virtex Enterprises, Logisticare Solutions and Yodle Inc. A division of Dell once occupied the office building as a call center. Daniel Farrar and David Blackbird of Stream Realty executed the company's business plan for the property, including its purchase, lease up and sale. Farrar was offered an equity stake in the property as an incentive for sourcing the deal. Farrar moved from Austin to Charlotte, N.C., in January to lead Stream Realty's office there.
BEVERLY HILLS, CALIF. — The 297-room SLS Hotel at Beverly Hills has received $125 million in refinancing. The luxury hotel is located on La Cienega Boulevard at the crossroads of Beverly Hills and West Hollywood. Financing was arranged by Mathew Comfort, Reid McGlamery, Mike Huth, John Strauss and James Stockdale of Jones Lang LaSalle.
SAN PEDRO, CALIF. — The 226-room DoubleTree Hotel in San Pedro has sold to LA Sky Harbor, LLC for an undisclosed sum. The hotel is located along the Cabrillo Yacht Marina. The seller was San Pedro Ownership. The sale was executed by Michael Blahosky of HREC Investment Advisors.
SAN DIEGO — Pacific Hospitality Group (PHG) has acquired Warner Springs Ranch in San Diego County. The 2,400-acre property was purchased at auction. PHG will have $15 million to $18 million invested in the acquisition. It plans to invest up to an additional $50 million to renovate and redevelop the facilities. The ranch contains a 27,000-square-foot main lodge, 250 casita units, a 144-acre golf course and club house, four tennis courts, equestrian facilities, two restaurants, a spa, campgrounds, three swimming pools, a private airport and meeting facilities. The deal was brokered by CBRE’s Jeff Woolson.
COLORADO, SPRINGS, COLO., MARINA DEL REY, CALIF. – Target has purchased two cookware companies, one based in Colorado Springs and the other in Marina Del Rey, for undisclosed sums. Chefs Catalog is a direct-to-consumer specialty retailer of cookware, bake ware, cutlery, kitchen tools and cooking utensils. It maintains an online and retail outletout of Colorado Springs. Cooking.com is based in Marina Del Rey and offers more than 60,000 cookware and kitchenware products, as well as recipe and menu collections. The two businesses will be combined to create a new, wholly owned subsidiary of Target.They will continue to operate under their current names.
LOS ANGELES – A $23.5-million acquisition loan has been issued to Stanford 1050 LLC for a 173,000-square-foot industrial building in Downtown Los Angeles. The building is located at 1050 Stanford Ave.The garment/manufacturing facility will be 60 percent owner-occupied, with the new owner utilizing the facility for warehouse and showroom space. The 20-year SBA 504 loan was provided by BFC SBA Lending.
GLENDALE, COLO. — 341-unit Solana Cherry Creek development in Glendale has received joint venture equity through an institutional investor. The funds will finance the Class A community's construction. It is scheduled for completion in 2016. Pat Burger, Josh Simon, Jordan Robbins and Husayn Hasan of HFF arranged the financing on behalf of MKS Residential LLC.
ORANGE, CALIF. —A new seven-story patient care tower has debuted at CHOC Children's Hospital in Orange. The 425,524-square-foot tower will open to the public later this month. It is located on the south side of the existing CHOC Children's hospital site. FKP Architects designed the new addition. McCarthy Building Cos. constructed the patient care tower.
HOLLYWOOD, CALIF. — A 4,896-square-foot office building in Hollywood that is home to Sunset Edit has sold to a principal of the private editing firm for $2.2 million. It is located at 849 Seward Ave. Sunset Edit provides post-production services to film, TV and music videos.The building was previously occupied by FilmCore. Michael B. Rubinof NAI Capital’s Westlake Village office represented both the buyer and the seller in this transaction.