MCKINNEY, TEXAS — Playtri has signed a 10,908-square-foot lease at Times Square at Craig Ranch, a shopping center located at 7951 Collin McKinney Parkway in McKinney. When Playtri opens the store in May, it will be the largest triathlon store in the U.S. The store will feature bikes, apparel, onsite coaches and sports nutritionists, training sessions and various fitness testing at the store's Performance Center. Playtri is an official USA Triathlon Certified Performance Center. Ward Richmond, Chris Teesdale and Tom Pearson of Colliers International's Supply Chain Real Estate Advisors in Dallas represented the tenant in the lease transaction. Bry Taylor of Bryson Messer Properties LLC represented the landlord, Mid-America Apartments LP.
Property Type
LOS ANGELES — EVOQ Properties has disposed of three non-core assets in Downtown Los Angeles. The disposition includes a series of vacant lots and industrial buildings that are located at 915-949 S. Hill, in addition to industrial buildings located at 759 Ceres and 643 Gladys avenues. The sales’ gross proceeds totaled $19.5 million. Some of the proceeds were used to pay off about $15.3 million in secured principal debt and $1.7 million of contingent deferred interest.
HENDERSON, NEV. — LBG Realty Advisors has purchased a Home Depot building at the Sunset Plaza shopping center in Henderson for $13.5 million. Home Depot anchors the center. The acquisition also includes an undeveloped pad that could house an additional 6,000-square-foot building. LBG purchased the building in partnership with an affiliate of Aviva Investors North America. The seller was SMA Ltd.
LONG BEACH, CALIF. – The first building to be completed at Pacific Pointe at Douglas Park in Long Beach has sold to Providence Industries for $12.7 million. The project is being developed by Sares-Regis Group (SRG) and features seven corporate headquarters buildings in a business park adjacent to Long Beach Airport. Providence Industries will expand and relocate to the 91,145-square-foot building from its former space in nearby Paramount. SRG also owns the adjacent 160 acres within Douglas Park. Providence was represented by Chuckie Lyons of Lyons & Lyons Properties. SRG was represented by CBRE’s Brian DeRevere and John Schumacher.
NORTH HOLLYWOOD, CALIF. – A 30-unit apartment building located at 11760 Hamlin Ave. in North Hollywood has sold to a private trust for $4.5 million. The trust was represented by Rick Raymundo of Marcus & Millichap Real Estate Investment Services. The unnamed seller was represented by Jim Fisher, Mike Smith and Duncan Lemmon of Lee & Associates.
SAN DIEGO — The 337-room Embassy Suites San Diego Bay – Downtown has sold to Pebblebrook Hotel Trust for $112.5 million. The hotel is located at the corner of Harbor Drive and Pacific Highway near Seaport Village in San Diego. The hotel underwent a $3.5-million renovation in May 2012. Pebblebrook will assume a $66.8-million secured, non-recourse loan as part of the transaction. HEI Hotels and Resorts will manage the property.
TUSTIN, CALIF. –The Matteson Companies has received $21.7 million in acquisition financing that will be used to purchase the93-unit Tustin Cottages. The community is located at 1361 El Camino Real in Tustin. Financing was based on a 10-year term and a 30-year amortization schedule.It was arranged by Dennis Williams and Robert Hervey of NorthMarq Capital through the firm’s relationship with a correspondent life company lender.
PEORIA, ARIZ. – The Plaza Del Rio campus in Peoria will soon be home to two new residential communities. ThePreserve at Plaza Del Rio will add 185 new homes to the campus, while Silverado Senior Living will add 90 new residences. MaracayHomes is developing The Preserve in three phases. Meridian Realty recently broke ground on Silverado Senior Living. ThePlaza Del Rio campus already contains a mix of medical office,commercial office, retail, residential and seniorliving facilities.
CHATSWORTH, CALIF. — Panavision Federal Systems has signed a three-year lease for a 22,775-square-foot office/industrial building in Chatsworth. The building is located at 9340 De Soto Street. The company will expand and relocate to the new facility in late January. Panavision Federal was represented by Brock Burnett, Jeff Gould and Jeff Albee of Colliers International. The landlord, Northeast Valley Industrial Parks, was represented by Scott Caswell of Delphi Business Properties.
MIAMI — Heitman has purchased Miracle Marketplace, a seven-story, 243,047-square-foot Class A vertical retail building located along the Miracle Mile/Coral Way in Miami, for an undisclosed price. It is anchored by Nordstrom Rack, Bed Bath & Beyond, Marshalls, LA Fitness, PetSmart, DSW Shoe Warehouse and Ulta. Carson Good, Margaret Caldwell, Kris Cooper and Denny St. Romain of Jones Lang LaSalle represented the seller, AWE Talisman, which specializes in imaginative repositioning of shopping centers. AWE Talisman converted five floors of retail space into three floors of big box retail space. Bally’s Total Fitness, another Miracle Marketplace tenant, remained in operation during the renovation.