SAN ANTONIO — Ignite Restaurant Group has reopened its San Antonio River Walk Joe's Crab Shack location following a three-month renovation. The restaurant, located at 212 College St., has nearly doubled its footprint to 7,600 square feet following the renovation. The restaurant has the capacity to seat 252 guests at one time. Ignite owns and operates 130 Joe's Crab Shacks and 15 Brick House Tavern + Taps.
MCKINNEY, TEXAS — Marcus & Millichap has arranged the sale of the 58-room Regency Inn McKinney, located at 951 S. Central Expressway in McKinney. The hotel's list price was $1.9 million. Michael Yu and Rahul Bijlani of Marcus & Millichap's National Hospitality Group, along with Tyler Bean of the firm's Fort Worth office, marketed the property on behalf of the seller, a partnership. Andrew Frosch of Marcus & Millichap's Houston office, along with Yu and Bijlani, secured and represented the buyer, a private investor.
WEST LAKE HILLS, TEXAS — CBRE has secured the sale of 13 acres of land, located on Bee Cave Road in West Lake Hills, to Houston-based Belmont Village Senior Living. Colin Armstrong of CBRE Austin represented the seller in the transaction. Belmont Village broke ground at the site for a community called Belmont Village West Lake Hills with 141 private apartments. The facility is slated for a summer 2014 opening.
SAN ANTONIO — Stream Realty Partners has arranged a 10,504-square-foot office lease at One Castle Hills, a 157,521-square-foot office property located in San Antonio's North Central submarket. Following this lease, One Castle Hills is 79 percent leased. Ryan Harrison of Stream Realty represented the landlord in the lease transaction. Ben Crawford of Jones Lang LaSalle represented the tenant, Webster University. Webster is a Tier 1, private, nonprofit university with more than 100 campuses across the country. Stream Realty also provides on-site property management for the facility.
OXNARD, VENTURA, CALIF. — Kaiser Permanente has purchased two Class A buildings in Central California that it currently occupies for $15.2 million. The buildings are located at 2200 East Gonzales in Oxnard and 888 South Hill in Ventura. Each building contains 31,235 square feet and is fully occupied by Kaiser. The seller, Wilmington Trust, which worked on behalf of a privately held trust, was represented by CBRE’s Bryan Lewitt, Chris Bodnar, Lee Asher and Chris Isola.
LOS ANGELES – A 48-unit apartment complex in Valley Village has sold to a local apartment owner/operator for $15.2 million. The community is located at 11925 Kling Street just southwest of North Hollywood. The complex was originally built in 2012 as for-sale condos. Matt Ziegler of Marcus & Millichap’s Encino office represented both the buyer and the seller, which was also a local apartment owner/operator.
SAN DIEGO – The 31-unit Grove Meadow Apartments in Imperial Beach has sold to Charles Kreutzkamp for $3.5 million. The community is located at 1445 Grove Ave. in southern San Diego. It was fully leased at the time of sale. Kreutzcamp was represented by Eric Comer, Jim Neil and Merrick Matricardi of CBRE San Diego. The seller, Song 1985 Trust, was represented by Andrew Parashos of Torrey Pines Property Management.
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.
LAS VEGAS – The Genting Group has purchased the 87-acre Echelon development site on the Las Vegas Strip for $350 million. The company plans to build a $2-billion hotel-casino complex called Resorts World Las Vegas. Construction is scheduled to begin on the first phase in 2014. It will include a 3,500- room hotel and a 175,000-square-foot casino. The resort is scheduled to open in 2016. The Echelon site was sold by Boyd Gaming, which halted construction on its $4.8-billion project in August. 2008. It would have contained five hotels and a 140,000-square-foot casino.
FREMONT, CALIF. — Seagate Technology has announced plans to build a $180-million research and development complex at the former 411,618-square-foot Solyndra plant in Fremont. The company purchased the Class A facility in February for $90.2 million after Solyndra filed for bankruptcy. The building is located at 47488 Kato Road. The disk drive company plans to occupy the facility. Seagate was represented by Donald Reimann, Sean Toomey and Gregg Von Thaden of Colliers International. Solyndra was represented by Bart Lammersen, Greg Matter and Jason Ovadia of Jones Lang LaSalle in the all-cash sale.