DALLAS — RLG Consulting Engineers has expanded its headquarters to a full floor at the 57,505-square-foot La Sierra Office Building in north Dallas. RLG signed a lease renewal/expansion for the 15,173-square-foot third floor of the office building. Dave Besserer and Curt Linn of Bradford Commercial Real Estate Services represented the tenant in the lease transaction. The landlord is Fred Pakravan of Dallas.
DENVER – A 77,210-square-foot lot in Denver that contains three industrial buildings has sold to WalBlake, LLC for $3.3 million. This was the highest price per square foot paid for land in the RINO district, according to Sam Leger and Tim Finholm of Unique Properties, LLC – TCN Worldwide. The pair represented the sellers, Gregory Land Co. and Gregory Companies, in this transaction. The property is located at 3601-3655 and 3707 Walnut Street.
SCOTTSDALE, ARIZ. — Shea Scottsdale Plaza, a 12,716-square-foot shopping center in Scottsdale, has sold to SheaScott LLC for $3 million. It is located at 7337 E. Shea. The building was 96.2 percent occupied at the time of closing. Notable tenants include Dickey’s BBQ Pit, Fate Brewing Co., Valencia Salon Studios & Fascinations. SheaScott was represented by Mark Rein of Rein & Grossoehme. The seller, an entity formed by Westwood Financial, was represented by CBRE’s Steve Julius and Jesse Goldsmith.
SAN FRANCISCO – A six-unit apartment building in San Francisco has sold to an unnamed buyer for $2.1 million. It is located at 164 23rd Ave. in the city’s Lake Street District. Sanford G. Skeie and John Antonini of Marcus & Millichap’s San Francisco office represented the seller, a private investor, in this transaction.
DENVER – The Metro, a 415-unit apartment community in Denver’s Lower Downtown (LoDo) district, has sold to Multi-Employer Property Trust (MEPT) for $90.8 million. The community is 93 percent leased. MEPT plans to renovate the property. Bentall Kennedy, the fund’s real estate advisor, is examining the feasibility of enhancing the property with energy-efficient and sustainable features.
PARKER, COLO. – The Windrock and Stone Canyon apartment communities in Parker have sold to TM Equities for $82.7 million. Windrock boasts 308 units, while Stone Canyon features 352 residences. ARA’s Jeff Hawks, Doug Andrews, Terrance Hunt and Shane Ozment represented the unnamed seller in this transaction.
LOS ANGELES, SAN DIEGO — TIAA-CREF has secured refinancing for the 187-unit Legacy at Westwood in Los Angeles and 251-unit Regents Court in San Diego. The firm received $223.1 million to refinance these properties, along with two other multifamily trophy assets in New York and Dallas. The 10-year, fixed-rate Freddie Mac loans were arranged by Brian Eisendrath from CBRE’s Multifamily Debt and Equity Finance team.
LOS ANGELES — The Academy Tower, a 175,012-square-foot office building in the Los Angeles submarket of North Hollywood, has sold to Kennedy Wilson for $48 million. The building is located at 5200 Lankershim Blvd. It is 97 percent leased. Notable tenants include Endemol, IPPT and Starcom Worldwide. The transaction was funded with $19 million in equity from Kennedy Wilson and a $29-million loan from Bank of America Merrill Lynch.
DAHLONEGA, GA. — Ambling University Development Group and North Georgia College and State University (NGCSU) have completed a four-year, $110 million transformation of the Dahlonega campus. It culminated in the renovation of Gaillard Hall, a 166-bed historic cadet residence hall. In addition to Gaillard Hall, other projects completed include the addition of 1,214 beds, a 1,080-space parking deck, a new multi-use building that houses the university bookstore, retail and health center as well as a 1,000-seat dining hall. Funding for the $110 million capital improvement initiative was provided through privately financed tax-exempt municipal bonds.
BRANDENTON, FLA. — The 678,377-square-foot DeSoto Square Mall, located on U.S. Highway 41 and Cortez Road in Bradenton, has sold. An affiliate of New York-based Mason Asset Management Inc., a wholly owned subsidiary of Simon Property Group, acquired the regional mall. It opened in 1973 and was renovated in 1996. Macy’s and JCPenney anchor the retail property, which also includes an empty Dillard’s box. Peter Stevens, Dave Conn, Casey Rosen and Nik Kozy of CBRE represented the unlisted seller.
