SAN JOSE, CALIF. – Nutanix has subleased 31,000 square feet of space at 1740 Technology Drive in San Jose. The company had previously occupied about 15,000 square feet at neighboring 1735 Technology Drive. The new sublease will allow Nuatnix to expand its headquarters. The new space is located in a Class A, 206,876-square-foot office building. Nutanix was represented by Joe Brady and Mike Mordaunt of Cresa San Jose. The sub-landlord, Namco Bandai, was represented by Paul McNamus and John McMahonof Colliers International.
TEMPE, ARIZ. — Portillo’s has purchased a 2.38-acre parcel at the 1.3 million-square-footTempe Marketplace where it plans to open an outpost. The famous Chicago hot dog eatery will open a 7,000-square-foot location on the marketplace’s southwest corner in the summer of 2013.
CHARLOTTE, N.C. — Trinity Capital Advisors has sold NASCAR Plaza to Parkway Properties for a reported $100 million. The 20-story, 390,000-square-foot LEED Silver-certified office building is located at 550 S. Caldwell St. in downtown Charlotte. Trinity Capital Advisors purchased NASCAR Plaza in a joint venture with Rubenstein Partners in December 2010. The building’s occupancy grew from 37 to 88 percent under Trinity Capital Advisors and Rubenstein Partners’ ownership. Chiquita Brands International relocated its corporate headquarters to NASCAR Plaza under the former ownership.
ORLANDO, FLA. — A former Hertz rental car facility, which includes 19.44 acres of land for development at 5601 Butler National Dr. off Semoran Boulevard north of Orlando International Airport, has sold for $14.25 million. Los Angeles-based L&R Investment Co. acquired the property and intends to obtain a master plan for the development of retail parcels that front Semoran Boulevard and an off-airport parking facility. Kevin O’Connor and Matt Cichocki of NAI Realvest represented the seller, The Hertz Corp., which moved its operations onto airport grounds at Orlando International Airport.
CHESAPEAKE, RICHMOND AND CHESTERFIELD, VA. — Three absolute net-leased Jiffy Lube retail properties have sold in southern Virginia. The assets commanded sales prices of $1.3 million in Chesapeake, $930,000 in Richmond and $920,000 in Chesterfield. Michael Early and Matthew Greenspon of Marcus & Millichap’s Virginia and Raleigh, N.C., offices represented the sellers. The buyers were unlisted private investors and an unlisted large regional real estate operator. Each Jiffy Lube unit was available for purchase as an investment, operated on absolute net-leased structures by subsidiaries of the parent company, Lucor Inc., which owns and operates more than 165 Jiffy Lube retail properties.
WASHINGTON, D.C. — A 23-unit apartment property has sold for approximately $1.5 million in Washington, D.C.’s Petworth submarket. It is located at 3921 Kansas Ave. and was built in 1952. Twenty units were occupied at the time of the sale. Peggy Brooks Smith and Marty Zupancic of Marcus & Millichap represented the seller, an unlisted partnership, and also secured the buyer, an unlisted private investor.
CHARLOTTE, N.C. — Marsh Aviation has purchased an approximately 25,000-square-foot freestanding retail property from Regions Bank for $1 million. Home South, a new home furnishings retail concept, is planned to operate at the site at 7220 Smith Corners Blvd. in Charlotte. Todd Harrelson of Cushman & Wakefield/Thalhimer represented the seller in the transaction.
BEAVER DAM, WIS. — National Health Investors has purchased the Charleston House, a 120-unit assisted living and memory care facility in Beaver Dam for $20.2 million. Landmark Senior Living Communities will lease the property for 15 years, with renewal options. The property includes one-bedroom apartments, on-site physical therapy and two television lounges.
ST. LOUIS — Marcus & Millichap has arranged the $9.2 million sale of Surrey Court at D'Adrian Meadows, a 248-unit apartment community in St. Louis. The property is located at 1233 Surrey Court and consists of 62 four-plex buildings. The average unit size is 865 square feet with an average rent of $532 per month. David Gaines and Alex Blagojevich of Marcus & Millichap represented the seller, a partnership, in the transaction. They also represented the buyer, a private investor.
INDIANAPOLIS — Johnson Capital has arranged a $22.1 million refinancing loan for Overlook at Valley Ridge, a 324-unit apartment complex in Indianapolis. The owners are a family business with several properties in the area. Scott Graber of Johnson Capital arranged the 35-year FHA loan through Huntoon Hastings, a subsidiary of Johnson Capital. The new debt was used to refinance an existing FHA loan.