COLORADO SPRINGS, COLO. – The 114-unit Fillmore Ridge apartment community in Colorado Springs has sold to LocalConstruct for $6.05 million. The community was constructed in 1965 and recently renovated, upgrading the property from a C Class to a B Class. It was 91 percent occupied at the time of closing. The seller, Seagate Properties, was represented by ARA’s Kevin McKenna and Ken Greene.
Property Type
ROSEVILLE, CALIF. – Roseville Storage Center, a 574-unit, 78,648-square-foot storage facility in Roseville, has sold to Trojan Self Storage for $4.3 million. The property was listed by Paul D. Frank of PDF Commercial. The seller, Wells Fargo Bank, was represented by Brett Henry of Andasol Brokerage.
SCOTTSDALE, ARIZ. – A 47,366-square-foot office building inside the Perimeter Center Business Park in North Scottsdale has sold to Scottsdale Investment Management for $3.3 million. The building is located at 17800 N. Perimeter Drive. It was built in 2000 and was 88 percent occupied at the time of sale. The seller, FH Arizona Properties, was represented by Eric Wichterman, Mike Coover and Mike Kitlica of Cassidy Turley BRE Commercial.
NATIONAL CITY, CALIF. – . ITT Educational Services has leased 45,000 square feet at South Bay Corporate Center in the San Diego submarket of National City. The center is located at 401 Mile of Cars Way. ITT will be relocating from its current location in nearby Kearny Mesa. This newest lease brings the center to a 22 percent occupancy rate. ITT was represented by Don Mitchell of Cresa Partners. The landlord, Greenlaw Partners, was represented by Tony Russell of Jones Lang LaSalle.
TORRANCE, CALIF. — Torrance Promenade, a 269,000-square-foot retail power center, has received a $27.6-million refinancing. The property is located at 19800 to 20100 Hawthorne Blvd. in Torrance. It is currently 99 percent leased. Notable tenants include Trader Joe’s, Office Depot, Marshalls, Same Ash Megastore, Ross Dress for Less, Loehman’s, Tuesday Morning and Party City. HFF’s John Crump and Robert Delitsky arranged the 10-year, fixed-rate loan on behalf of KIR (Kimco Income REIT) Torrance, L.P. through the firm’s relationship with a life insurance company. Kimco Income REIT is an affiliate of Kimco Realty Corporation.
DURHAM, N.C. — American Real Estate Partners has sold the three-building Keystone Park, located west of the Interstate 40/540 intersection in Durham, to an affiliate of Investcorp for $48.4 million. The portfolio is 94 percent leased to 23 tenants in the healthcare, research, technology and financial services industries. Paul Collins, Bill Collins, Drew Flood, Jud Ryan, James Cassidy and David Finger of Cassidy Turley represented the seller.
GREENVILLE, S.C. — STAG Industrial has purchased two warehouse and distribution facilities, located near Greenville, for $26 million. The properties total 787,380 square feet and are fully leased with an average lease term of 4.5 years. The buildings include a 474,000-square-foot building, which is primarily leased to L. Perrigo Co., and a 313,380-square-foot building, which is leased to Arvato Digital Services.
KISSIMMEE, FLA. — Marcus & Millichap has arranged the $9.55 million sale of the 83,340-square-foot Kissimmee Korners, located at 1507 N. John Young Parkway in Kissimmee. Tenants include Budget Rent-A-Car, Little Caesars, United Legacy Bank and state government offices. Douglas Mandel and Mark Thompson of Marcus & Millichap represented both parties in the transaction.
HAMPSTEAD, N.C. — Wakefield Associates has broken ground on the 82,000-square-foot Hampstead Town Center, a shopping center located at the intersection of Ravenswood Road and U.S. Highway 17 in Hampstead. A 44,000-square-foot Lowes Foods Grocery Store will anchor the center. Completion is slated for May 2013.
KNOXVILLE, TENN. — Ziff Properties has purchased the 31,400-square-foot Franklin Shopping Centre, located at 913-925 Highway 321 N. in Knoxville, from US Bank for $2.25 million. Aaron's Rental and Dollar Street anchor the center.