CARMEL, CALIF. — O'Connor Capital Partners and Wafra Investment Advisory Group have created a joint venture called O’Connor/Wafra Retail Partners to acquire Carmel Plaza, a 111,781-square-foot luxury lifestyle center in Carmel. Purchase price was not disclosed. Notable tenants at the center include Tiffany & Co., Louis Vuitton, Bottega Venetta, J.Crew and Anthropologie.
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REDMOND, WASH. — Elan Town Center, a new 134-unit apartment community, has broken ground in Redmond. The community, which will also feature 7,735 square feet of ground-floor retail, restaurants and convenience shops, will be located at 16355 Cleveland Street. It should be completed in spring 2013 and will seek LEED-Silver certification. Elan Town Center is being developed by Resmark Apartment Living, a division of The Resmark Companies, in a joint venture with Greystar. The community will be designed by Weber Thompson and built by Compass Construction.
FREMONT, CALIF. — Warm Springs Constructors, Inc., a Kiewit Infrastructure West Co. joint venture, has signed two leases totaling 42,768 square feet in Fremont. The first lease is for 28,800 square feet of industrial space at 45401 Research Ave. The second includes 13,968 square feet of office space at the nearby 47212 Mission Falls Court. The buildings are respectively owned by Workspace, LLC and East Warren Park, LLC. Warm Springs Constructors was represented by Walter Stephenson, Mitchell Hertz, Matt Bracco, Christopher Burns, Joshua Nelson and Glen Dowling of Cushman & Wakefield in both transactions.
WEST PALM BEACH, FLA. — Mayan Capital has sold the 276-unit Palo Verde Apartments, located at 6164 Forest Hill Blvd. in West Palm Beach, for $14.75 million. Amenities include a swimming pool, laundry facilities, tennis courts, playground and fitness center. The property is 95 percent leased. Jason Shapiro of Aztec Group and Peter Mekras of Continental Real Estate Cos. represented the seller in the transaction. The buyer was a private investor.
MEMPHIS, TENN. — Marcus & Millichap has arranged the sale of a five-property, 2,671-unit self-storage portfolio, located in the greater Memphis area. Two of the properties are located in Memphis, two are in Olive Branch, Miss., and one is in Hernando, Miss. Charles LeClaire and Anne Williams of Marcus & Millichap represented the seller, Memphis Storage LLC, in the transaction. The buyer was Amsdell Storage Ventures VII.
OCALA, FLA. — Franklin Street has arranged the $2.4 million sale of a 4,000-square-foot AT&T retail store, located in Ocala. Franklin Street represented the seller, an Atlanta-based development company, in the transaction. The buyer was a private investor in a 1031 exchange.
SPANISH FORT, ALA. — Grandbridge Real Estate Capital has arranged a $24 million, first mortgage loan for the 300-unit The Arlington at Eastern Shore Apartments, a luxury multifamily property located in Spanish Fort. Amenities include a clubhouse with Wi-Fi, an exercise facility, coffee bar, swimming pool with a large sun deck, care care center and an indoor basketball court. Steve Clikas of Grandbridge's Birmingham, Ala., office secured the 10-year loan with a 30-year amortization schedule through Fannie Mae.
SMYRNA, TENN. — Walker & Dunlop has secured $5.6 million in Fannie Mae financing for the 128-unit Ashley Grove Apartments, a garden-style apartment complex located in Smyrna. Amenities include a tennis court, swimming pool, basketball court and on-site laundry facilities. The property is 96 percent leased. Carl Bedwell and Chris Howe of Real Estate Capital Advisors originated the loan. Keith Melton and David Strange led the Walker & Dunlop team. The 10-year, refinance loan has a 30-year amortization schedule.
MIDDLEBURY, IND. — Chicago Lands LLC has purchased the former Pilgrim plant at 14489 U.S. 20 in Middlebury for $1.1 million. The 102,062-square-foot industrial facility is situated on 16 acres. The seller, HNHB LLC, had been leasing the building to Bullseye Industrial Sales. However, the company decided to lease space at another property in Middlebury. Chicago Lands plans to lease the building to a tenant in the metals business. Pete Letherman of FM Stone Commercial represented the seller in the transaction.
OMAHA — Brix, a wine tasting bar and bistro store in Omaha, plans to open a second location at Midtown Crossing. The 9,500-square-foot store will be located at 220 S. 31st Ave., in the space that formerly housed Republic of Couture. The new location will feature a retail area, bistro and event center. Brix opened its first store in the Village Pointe shopping center in west Omaha about two-and-a-half years ago.