Property Type

S&P COMPLETES CONSTRUCTION OF $12.2M ELEMENTARY SCHOOL

by admin September 19, 2012

HOUSTON — Satterfield & Pontikes Construction has finished building the 88,000-square-foot Neff-White Relief Elementary School, located in southwest Houston. The $12.2 million school will serve 750 students in grades 2-5. PDG Architects designed the school to achieve LEED certification through the increased use of natural light, low-consumption plumbing fixtures and energy-efficient systems and controls. Rice & Gardner provided mechanical, electrical and plumbing engineering services for the project.

September 19, 2012

SVN BROKERS $4.3M SALE OF BORDER PATROL PROPERTY

by admin September 19, 2012

COTULLA — The Sperry Van Ness National GSA Team has arranged the $4.3 million sale of a three-building, 23,485-square-foot U.S. Border Patrol property, located at 1550 Double C Drive on the Interstate 35 access road in Cotulla. THe property includes a high-security administration/detention building, vehicle maintenance and kennel facilities. Mark Phillips and Tim Strange of Sperry Van Ness represented the seller, DLI Cotulla, in the transaction. Bruce Marshall of Sperry Van Ness' Dallas office represented the buyer, UIRC-GSA Cotulla TX.

September 19, 2012

Healthcare Texas

SQN REALTY FINANCE ACQUIRES MEDICAL OFFICE BUILDING

by admin September 19, 2012

LANCASTER — Grapevine-based SQN Realty Finance has acquired a 16,789-square-foot medical office building, located in Lancaster. The property is currently 36 percent leased to DaVita Dialysis. The property had been lender-owned since May 2011. Dallas-based Dominus Commercial will manage the center, as well as handle leasing.

September 19, 2012

Retail Western

REGENCY BUYS BALBOA MESA SHOPPING CENTER FOR $59.5M

by admin September 19, 2012

SAN DIEGO — Regency Centers Corporation has purchased Balboa Mesa Shopping Center, a 189,321-square-foot, infill shopping center in San Diego, for $59.5 million. The Vons-anchored center is located at Balboa Avenue and Genesee Avenue. It is 95 percent leased. Other notable anchors include Kohl’s and CVS/pharmacy. The seller was Balboa Realty LLC.

September 19, 2012

Mixed-Use Western

MERCER ISLAND MIXED-USE PROPERTY RECEIVES $53.9M

by admin September 19, 2012

MERCER ISLAND, WASH. – A 171-unit, Class A mixed-use property on Mercer Island has received a $53.9-million permanent loan. The apartment community also features 17,000 square feet of retail space. The property was built in 2009 along the island’s main thoroughfare. Mercer Island sits on Lake Washington, which is between Seattle and Bellevue. The loan was arranged by Amos Smith and Ryan Chapman of Johnson Capital’s Irvine office. The funds were provided by Fannie Mae. The new non-recourse loan will replace a construction loan. It has a fixed interest rate during the 10-year term.

September 19, 2012

Industrial Western

C&D ZODIAC LEASE 85,773 SF AT CYPRESS INDUSTRIAL BUILDING

by admin September 19, 2012

CYPRESS, CALIF. – C&D Zodiac has signed a long-term lease for 85,773 square feet at an industrial building in Cypress. It is located at 11240 Warland Drive. The firm will use the space to expand its aircraft division. C&D was represented by Frank Adler and Jeff Hirsch of Lee & Associates Newport Beach. The landlord, Warland Investments Company, was represented by the Klabin Company.

September 19, 2012

Office Western

SPECTRUM LAB LEASES 25,569 SF AT SOUTHBANK

by admin September 19, 2012

PHOENIX – Spectrum Labs has leased 25,569 square feet of lab office space at the Southbank Business Park in Phoenix. It is located at 2801 S. 35th Street. The veterinary solutions company will use the space for lab testing. Spectrum Labs was represented by Jeff Conrad of Lee & Associates Arizona. The landlord, Hannay Real Estate Advisors, was represented by CBRE’s Bill Bayless.

September 19, 2012

Multifamily Southeast

FAVERGRAY TO BUILD $24.1M APT. COMPLEX

by admin September 18, 2012

JACKSONVILLE, FLA. — FaverGray plans to break ground next week on the $24.1 million, 300-unit Hacienda Club Apartments, a Class A multifamily community located at 8685 Baymeadows Road E. in Jacksonville. Amenities will include a pool, clubhouse, gazebos and a car care center. Fort Family Investments is the developer of the property and Group 4 Design is the project architect.

September 18, 2012

Multifamily Southeast

MOBILE APT. COMPLEX SELLS FOR $23M

by admin September 18, 2012

MOBILE, ALA. — Bodner Co. has sold the 270-unit Retreat at Schillinger, a Class A apartment complex located at 1313 Schillinger Road S. in Mobile, to LMS Cos. for $23 million. The property is 93 percent occupied. Amenities include a wellness center, resort-style swimming pool, dog resort, theater, ping pong table, pool table and meeting rooms. Sean Henry, John Weber and Chad DeFoor of ARA represented the seller in the transaction.

September 18, 2012

Retail Southeast

STORE CAPITAL ARRANGES $19.2M SALE-LEASEBACK

by admin September 18, 2012

ALPHARETTA, GA. — STORE Capital Corp. has completed a $19.2 million sale-leaseback with Tappan Street Restaurant Group (TSRG) for five Taco Mac restaurants in Georgia and North Carolina, as well as the company's corporate headquarters in Alpharetta. The properties were leased back to TSRG under a long-term, triple-net lease.

September 18, 2012

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