ARLINGTON, TEXAS — Skyline DFW Exhibits & Events has subleased 47,675 square feet of industrial space for the duration of Western-BRW Paper Co. Inc.'s term. The industrial space is located in the Arlington Corporate Center III, located at 3709 E. Randol Mill Road in Arlington. ProLogis developed the industrial building in 2001. Jim Ferris of Dallas-based Bradford Commercial Real Estate Services represented the landlord in the lease transaction. Jim Hazard, Brad Struck and Bill de la Chappelle of Transwestern Dallas represented the sublessor.
THE WOODLANDS, TEXAS — First Victoria National Bank has purchased a 1.24-acre site in the future Creekside Park Village Center in The Woodlands. The new bank branch will be located at the northeast corner of Creekside Forest Drive and Kuykendahl Road in The Woodlands. The bank will feature two drive thru lanes, a deposit-enabled ATM, two conference centers with video phones and a V-Souce Center, a club-style business center with fax machines, copiers, computers and WiFi. Construction is slated to begin in early 2014. Felix Zamilkovsky of New Regional Planning represented First Victoria National Bank in the land sale. Todd Edmonds of Colliers International represented the seller, The Woodlands Development Co., a subsidiary of The Howard Hughes Corp.
LEWISVILLE, TEXAS — NorthMarq Capital has secured construction financing for Phase II of Crest Manor, a 288-unit multifamily community located at 940 W. Round Grove Road in Lewisville. Paul Brighton of NorthMarq arranged the financing through a national bank on behalf of the borrower, a developer. Phase II will complete the multifamily component of Crest Manor.
SAN FRANCISCO – A 21-story tower office tower located at 100 Spear Street in San Francisco has sold to Prudential Real Estate Investors for $100 million. The 203,071-square-foot building resides near Market Street in the city’s South Financial District. It was 91.5 percent leased at the time of closing. The tower has undergone a $4.5-million renovation and modernization over the past four years. The seller, Clarion Partners, was represented by HFF’sGerry Rohm, Michael Leggett and Dave Karol.
DENVER, PHOENIX — BRE Properties has sold its joint venture interests in six multifamily properties throughout Denver and Phoenix for $47.5 million. The interests were sold to the firm’s joint venture partner. The six communities included in the sale are the Bluffs at Highland Ranch; the Fairways at Raccoon Creek; Pinnacle at DTC; Pinnacle at Mountain Gate in Denver, as well as Pinnacle at Union Hills and Pinnacle Terrace in Phoenix. The sale of these communities resulted in a net gain of about $15 million. BRE is currently focused on high-quality apartment communities in targeted growth markets like California and Seattle.
WOODLAND, CALIF. – Walmart has announced plans to open a new Walmart Neighborhood Market in Woodland. The smaller-format store will occupy a 62,000-square-foot building at 1250 E. Gibson Road about 15 miles northwest of Sacramento. The building was previously occupied by Mervyn’s at the County Fair Fashion Mall. The mall is owned by County Fair Fashion Mall, LLC and managed by Primero Management. Scott Sterlekar serves as the mall’s director of real estate and leasing.
GREELEY, COLO. — Griffin-American Healthcare REIT II has acquired five medical office buildings throughout the U.S. for $47 million. The buildings are located in Greeley, Colo.; Ruston, La.; and Abilene, Tex. The REIT is co-sponsored by American Healthcare Investors and Griffin Capital Corporation. The three-building Greeley Northern Colorado Medical Office Building Portfolio was included in this transaction. The 99,000-square-foot medical office building portfolio is currently 93 percent leased to three tenants, including the University of Colorado Health. The seller of the Greeley portfolio, Concordia Company of Greeley, LLP, was represented by Craig Hau and Kyle Lundy of Sperry Van Ness.
SEATTLE – The mixed-use Shelby Apartments complex has received a $21.3-million loan. The property contains containing 98 units and 5,000 square feet of ground-floor commercial space. It is located in the Belltown section of Seattle. The 10-year, non-recourse loan was arranged by Amos Smith and Ryan Chapman of Johnson Capital’s Irvine office. Financing was provided by Fannie Mae.
AURORA, COLO. — Majestic Realty Co. has announced plans to build a 500,000-square-foot speculative industrial warehouse and distribution building at the Majestic Commercenter in Aurora. The Class A industrial property will break ground in May and is scheduled for completion by the end of the year. Once complete, this will be the largest spec building to ever be constructed in the Denver area, according to Majestic.
CUMMING, GA. — Marcus & Millichap has brokered the $10.5 million sale of Lanier Crossing, an 111,000-square-foot retail center located on Atlanta Road in Cumming. The sales price for the Hobby Lobby-anchored property equates to $96 per square foot. Hobby Lobby is in the middle of its first five-year lease, with one five-year option remaining. The property was built in 1964 and most recently renovated in 1989. During the past 10 years, the center has had an average occupancy rate of more than 90 percent. Other tenants at Lanier Crossing include Subway, Sally Beauty Supply, Weight Watchers and Cici's Pizza. Howard Bregman and Brandon Rex, both with Marcus & Millichap's Fort Lauderdale, Fla., office represented the seller, Infinity Property Fund, as well as the Northeast-based buyer.