MURRAY, UTAH — The former 154,000-square-foot Utah Fun Dome was purchased by Kimball Investments and ICO Construction for an undisclosed sum. The building is located at 4998 South Galleria Drive. The new owners plan to develop a mixed-use property on the site. The seller, First Citizens Bank and Trust Co., was represented by CBRE’s Doug Scheel and Marty Plunkett.
RANCHO DOMINGUEZ, CALIF. — Davis Trucking, LLC has leased a 57,600-square-foot warehouse/distribution facility in Rancho Dominguez. The company plans to relocate its Los Angeles operations to the new facility, which is located at 3090 Via Mondo. It is relocating from nearby Carson. The seven-year lease was valued at $2.8 million. Davis Trucking was represented by Tommas Golia of Pacific Coast Commercial. The landlord, KTR Capital Partners, was represented by Frank Schulz, Todd Taugner and David Prior in Klabin/CORFAC’s Torrance office.
OXFORD, MISS. — Carter and Chance Partners plan to build the $39 million, 750-bed The Highlands, a student housing community located at the University of Mississippi in Oxford. The development will include a town square with roughly 15,000 square feet of retail and amenity space and a large clubhouse. Amenities will include a coffee shop, three swimming pools, fitness center with tanning facilities, a basketball court, car wash and dog wash station, a dog park, sand volleyball and other outdoor activities such as bocce ball and horseshoes. Regions Bank is providing construction financing for the project, Reese Vanderbilt is the architect and Apex Cos. is the contractor. Completion is slated for July 2013.
CORAL GABLES, FLA. — AJP Ventures has completed the $9 million, 58,000-square-foot The Building, a Class A office property located at 2990 Ponce de Leon Blvd. in Coral Gables. The Building is 65 percent pre-leased to tenants, which include Zubi Advertising and Mas Group. A joint venture between AJP Ventures, Juan Carlos of The Mas Group of Companies and TAZ Partners developed the property.
COCONUT GROVE, FLA. — Terra Group plans to develop the 96-unit Grove at Grand Bay, a condominium property located on South Bayshore Drive in Coconut Grove. Amenities will include private butlers, private elevators, rooftop swimming pools, wellness spa, fitness center, club room and pet spa. BIG Architects designed the project, which is being constructed to LEED Silver standards. Construction is slated to begin in the fourth quarter of 2012 with completion scheduled for the third quarter of 2014.
ATLANTA — Atlanta Property Group has purchased an 80,249-square-foot office building, located at 1190 W. Druid Hills Drive in Atlanta, from Duke Realty. The property is 78 percent leased. The buyer will invest $125,000 to renovate the building's common areas and attract new tenants.
ATLANTA — PCCP has provided a $30 million senior loan to refinance a 272,650-square-foot office building, located at 5660 New Northside in Atlanta. The borrower was an equity consortium led by Banyan Street Capital.
MISSION, KAN. — FREEBIRDS World Burrito has opened its first location in Kansas, located at 6029 Metcalf Ave. in Mission. The restaurant was founded in 1987 in California. The menu includes burritos with freshly chopped veggies, house-made rice and beans and grass-fed beef. FB Midwest Development, a franchisee for the chain, is also reportedly looking to open up an additional site in Mission, as well as locations in Columbia, Mo.; Omaha, Neb.; and Wichita, Kan.
SCHAUMBURG, ILL. — An affiliate of LEM Equities has purchased a 5,037-square-foot freestanding retail site in Schaumburg for $1.2 million. The property is located at 20 South Roselle Road and is occupied by Coldwell Banker. Stephen Lieberman and John Abuja of Marcus & Millichap represented the seller, Crosstown Real Estate Advisors. They also represented the buyer.
STATEN ISLAND, N.Y. — The Sal Calcagno Family Trust has sold a 40,000-square-foot office building, located at 1535 Richmond Ave. in Staten Island, for $7.5 million. The property was originally leased on a triple-net basis to SI Bank & Trust, and was later acquired by Sovereign Bank. Brian Leary, David Muessel, Sean Kelly, Cengiz Sendogdular and Matthew Dzbanek of CPEX represented The Sal Calcagno Family Trust in the transaction. They also represented the buyer, a local developer.