SAN DIEGO – The 317-room Courtyard San Diego Mission Valley/Hotel Circle has sold to Carey Watermark Investors for $85 million. The hotel is located on San Diego’s Hotel Circle in Mission Valley. The seller was a private investment group that employed Tarsadia Investments as its agent. The sale was executed by John Strauss, James Stockdale and Samantha Fisher of Jones Lang LaSalle Hotels.
HAYWARD, CALIF. — Well Luck Company has purchased a 101,376-square-foot warehouse and distribution facility in Hayward. It is located at 26599 Corporate Ave. The company will be relocating to the new facility in early 2013. It plans to occupy 65,000 square feet. It will lease out the remaining 35,000 square feet. Well Luck was represented by Joe Yamin and Chet Barney of Colliers’ Oakland office. The seller was represented by Kevin Hatcher, Mark Maguire and Greig Lagomarsino of the same office.
LAS VEGAS – A 17,123-square-foot retail property in Las Vegas that is leased to CVS has received $3.7 million in first-mortgage refinancing. The property is located at 4810 West Ann Road. Financing was based on a 10-year term and a 20-year amortization schedule. It was arranged by Ory Schwartz of NorthMarq’s Los Angeles office, in cooperation with the firm’s Las Vegas office.
BEECH BOTTOM, W. VA. — Los Angeles-based Hackman Capital Partners LLC has purchased the former Wheeling Corrugating plant in Beech Bottom at auction from RG Steel Wheeling LLC. The Business Development Corp. (BDC) of the Northern Panhandle, a nonprofit organization, received the property’s title following its auction and sale. Hackman Capital Partners and the BDC will develop and lease the site. Beech Bottom was one of RG Steel’s last held manufacturing facilities after the company filed for Chapter 11 bankruptcy this year. Hackman Capital Partners specializes in sourcing real estate and equipment deals through bankruptcies, turnarounds and financial restructurings. The Los Angeles firm sourced the deal with National Machinery Exchange and Capital Recovery Group, and is working in cooperation with the BDC. The 600-acre site sits on the Ohio River and includes 150 acres available for development.
ORMOND BEACH, FLA. — South Florida-based Stiles, a private full-service commercial real estate company, has purchased the 102,170-square-foot Ormond Beach Mall from an entity affiliated with Lakeland, Fla.-based Odyssey Diversified Properties Inc. Ormond Beach Mall is anchored by Publix and includes tenants Bealls Outlet, Family Dollar and Wells Fargo. Danny Finkle, Luis Castillo and Kim Flores of HFF represented the seller. Ormond Beach Mall is located at 1200-1294 Ocean Shore Blvd. in Ormond Beach.
MIAMI — Laurus Corp., a private real estate investment and development firm, has acquired the Sofitel Miami hotel. The 14-story luxury hotel sits on 10 acres with 281 rooms and 17,351 square feet of meeting and event space. Approximately $4.5 million will be invested in renovations for the hospitality property, and the site includes 1.3 acres for additional development. Sofitel Miami hotel is located at 5800 Blue Lagoon Dr., adjacent to Miami International Airport in Miami.
ATLANTA — The dual-branded Hilton Garden Inn and Homewood Suites by Hilton has opened in Midtown Atlanta. The 12-story hotel is located at 97 10th St. and includes 136 Hilton Garden Inn guestrooms and 92 Homewood Suites studios. North Point Hospitality Group Inc. owns and manages the property. The hotel splits its lobby between the brands, offering two separate check-in desks and lodging and dining areas. Communal areas include meeting rooms, a business center, pool and fitness center.
BUCKNER, KY. — Ralcorp Holdings has tapped IDI, a full-service industrial real estate company, to build a 558,600-square-foot distribution center at 1 Quality Place at its Carriage House Division campus in Buckner. The industrial facility recently broke ground and is scheduled for completion by the end of 2013. Ralcorp Holdings produces a variety of private-brand foods sold under the individual labels of various grocery, mass merchandise and drugstore retailers.
ST. PAUL, MINN. — The Ramsey County Regional Railroad Authority has marked the completion of a $243 million restoration project at the Union Depot train station in St. Paul. Transportation services have also returned to the 90-year-old structure, which hasn't been open to the public since the last train served the station in 1971. The project included rebuilding the train deck and tracks, constructing a new multilevel passenger drop-off entrance with ticket and baggage counters and repainting and restoring plaster in the waiting room. Crews also restored the Fourth Street entrance to its original design. The project team included Mortenson, URS Corp. and HGA Architects.
NAPERVILLE, ILL. AND INDIANAPOLIS — Inland Real Estate Corp. has sold two Midwest retail properties for a combined $7.5 million. Inland sold the 67,632-square-foot Butera Market shopping center in Naperville for $5.7 million. The buyer was an independent owner-operator of the property's anchoring supermarket. On the same day, Walmart Stores acquired the company's 67,541-square-foot retail property in Indianapolis, which was formerly leased to Cub Foods.