BRANFORD, CONN. — Premier Holdings has purchased a 12,313-square-foot automotive retail facility located at 205 North Main St. in Branford, for $1.5 million. Developed in 1993 for Branford Dodge, the property has been home to Lenders & Fleet Services since 2005. Premier Holdings plans to use the facility for its franchise, which includes Premier Subaru and Premier Kia. Tim McMahon and Frank Hird of O,R&L Commercial represented the seller, 155 North Main Street LLC, in the transaction. Peter Brown of H. Pearce Co. represented the buyer.
SUGAR LAND — The Sugar Land Development Corp. and Sugar Land City Council have approved a letter of intent with ACE Sugar Land to develop a 6,500-seat concert and performing arts facility, located on a 21-acre site near the U.S. Highway 59 and University Boulevard intersection. The letter of intent establishes funding to begin programming and schematic design. No timeline has been set for completion.
DALLAS — Marcus & Millichap has arranged the sales of The Colorado Apartments and Riverfall Square in Dallas. The 59-unit Colorado property is located at 2610 W. Colorado Blvd., and the 144-unit Riverfall Square is located at 7879 Riverfall Drive. John Barker of Marcus & Millichap's Dallas office represented seller, a limited liability company, and the buyer, an individual trust, in the Colorado Apartments transaction. Will Jarnagin and Michael Ware of Marcus & Millichap's Dallas office represented the seller, a New York-based private investment group, and procured the buyer, a local investor, in the Riverfall Square transaction.
SUNSET VALLEY — NorthMarq Capital has secured $10.5 million in first mortgage financing for an 86,584-square-foot Kohl's store, located in Sunset Valley. John Kerslake of NorthMarq's San Francisco office, along with Bryan Leonard of the firm's San Antonio office, arranged the 10-year loan with a 15-year amortization schedule through a life insurance company.
AUSTIN — HFF has arranged $7.4 million in financing for the 166-unit Keystone Apartments, located at 5230 Thunder Creek Road in Austin. The property is currently 95 percent occupied. John Brownlee of HFF arranged the seven-year loan through Freddie Mac's CME Program on behalf of the borrower, Price Realty Corp.
HOUSTON — LMI Capital has arranged $7.2 million in acquisition financing for the 436-unit Crescent Park Apartments, located in west Houston. Brandon Brown of LMI Capital arranged the three-year loan through a bridge lender. LMI Capital has also recently arranged loans for Windfern Pointe Apartments in northwest Houston, Ashford Park Apartments in west Houston and Bay House Apartments in the Clear Lake area.
CARLSBAD, CALIF. – A 75,160-square-foot, Class A office building in Carlsbad has received $10.2 million in financing. The building is located at 5791 Van Allen Way. It was built in 1999 and is fully leased on a triple-net lease basis to Life Technologies. The loan was arranged for Mararisk Carlsbad, LLC by Mararisk Carlsbad, David Bleiweiss and John Chun of HFF.
DINUBA, CALIF. – Mercantile Row Shopping Center, a 98,520-square-foot shopping center in Dinuba received $2.85 million in first-mortgage financing. The center is located at 2100-2242 E. El Monte Way. Financing was based on a one-year, interest-only term for about 73 percent of the discounted payoff amount. Financing was arranged by Michael Elmore and David Blum of NorthMarq’s Los Angeles office through its relationship with a hard money lender. .
SAN DIEGO – Spanky’s Portable Services has signed a six-year lease renewal and expansion at Rancho San Diego Industrial Center. The renewal includes 7,200 square feet of warehouse space and 36,000 square feet of adjacent yard space. Ron Bement of Cushman & Wakefield represented the landlord, BCL Inc., in this lease transaction.
CARY, N.C. — Northwood Ravin has started construction on the first phase of the $55 million Bradford, a mixed-use development located at David and High House roads in Cary. Phase I will include 370 multifamily units and 20 townhomes. Amenities will include a fitness center with an indoor lap resistance pool, sauna and steamroom, demonstration kitchens, business centers, doggie daycare and a pet spa. Completion is slated for fall 2013.