PETALUMA, CALIF. — East Washington Place, a new 380,000-square-foot shopping center in Petaluma, has secured several new tenants. They include Dick's Sporting Goods, T.J. Maxx/Homegoods, Sprouts Grocery and Ulta Salon and Cosmetics & Fragrance. Dick’s absorbed 50,000 square feet; T.J. Maxx grabbed 46,000 square feet; Sprouts has 25,000 square feet; and Ulta secured 10,000 square feet. Other notable new tenants include Panera Bread, Subway, Sport Clips and Sift Cupcake & Dessert Bar. The center will be anchored by Target, which purchased 10 acres of vacant space where it’s constructing a separately owned 140,000-square-foot store. The landlord, Regency Centers, was represented by Matt Kircher, John Schaefer and Katie Singer with Terranomics Retail Services. Singer procured all the above-mentioned tenants except for Sift Cupcake, which was procured by Trish Gonsalves, also of Terranomics.
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PHOENIX — Consolidated Grain & Barge Co. (CGB) has leased 155,794 square feet of industrial space in Phoenix. The facility is located at 2225 S. 75th Ave. within the Durango Commerce Center. This lease will bring the center to 96 percent occupancy. CGB plans to store products related to the solar construction industry at this space. The company was represented by Matt McDougall of Lee & Associates. The landlord, Clarion Partners, was represented by Bo Mills, Mark Detmer, Will Strong and Jackie Orcutt of Cushman & Wakefield of Arizona.
FLAGSTAFF, ARIZ — Timberline Place, a Class A apartment/condo complex in Flagstaff, has received $4,087,000 in acquisition financing. The funds will be used to purchase 102 units of the 204-unit complex. The community was built in 2000 and converted into condos in 2006 following a major upgrade. Only half of the units had sold by 2010, however. Tim Storey and Patrick Barkley of Newmark Realty Capital’s Phoenix office arranged the five-year loan for the remaining units through a local bank.
PARAMOUNT, CALIF. — A 28,600-square-foot, multi-tenant industrial building in Paramount has sold to ABR Properties for $2.6 million. The property is located at 15700-15714 Garfield Ave. and 7515-7524 Madison Street. ABR will occupy the majority of the building but will lease out remaining space. The company was represented by Jay Martinez of KW Commercial. The seller, a private trust, was represented by Chris Sheehan and Adam Deierling of Colliers International.
ORLANDO, FLA. — Pollack Shores Real Estate Group has acquired the 396-unit Heather Glen, an apartment complex located at 10801 Heather Ridge Circle in Orlando, for $23.6 million. The company plans to invest $1.5 million to renovate and upgrade the pool area, clubhouse, fitness center, landscaping and other amenities. The property is 95 percent leased. Matrix Residential, a subsidiary of Pollack Shores, will manage the community.
AUSTELL, GA. — KBS REIT I has sold the 353,983-square-foot Hartman Business Center One, a warehouse and distribution center located in Austell, for $16.1 million. The building is part of the 1.8 million-square-foot Hartman Business Center.
SMYRNA, TENN. — Summit Hotel Properties has purchased the 83-room Hampton Inn & Suites, located at 2573 Highwood Blvd. in Smyrna, for $8 million. The company plans to invest $500,000 in capital improvements. This is the company's 11th acquisition.
BIRMINGHAM, ALA. — Passco Cos. has purchased the 260-unit Stonegate, a luxury apartment community located at 101 Leaf Lake Blvd. in Birmingham, from EBSCO Income Properties. The property is 92 percent leased. Ryan Griffin of Rock Apartment Advisors represented both parties in the transaction.
CUMMING, GA. —Atlanta-based Bull Realty has arranged the $2 million sale of the 32,463-square-foot The Village at Creekstone, a mixed-use development located on Peachtree Parkway in Cumming. The property includes two retail buildings totaling 27,190 square feet, a two-story office condominium totaling 5,273 square feet, as well as three 2,500-square-foot office pad sites, one 4,581-square-foot office pad site and a .65-acre retail outparcel. Rob Whitmire and Theresa Johnson of Bull Realty represented the seller, a super regional bank, in the transaction. John Harrison, also of Bull Realty, represented the buyer, Alpharetta, Ga.-based Penn Hodge LLC.
LOS ANGELES — American Healthcare Investors and Los Angeles-based Griffin Capital Corp. have acquired 14 medical office buildings in nine states, including Illinois and Indiana. The purchase price was $106.7 million and the portfolio totals 474,000 square feet. In Indiana, the companies purchased the Beyer Medical Building, a 19,000-square-foot medical office in Warsaw. The property is fully leased to the Kosciusko Community Hospital through 2018. The acquisition also included a 30,000-square-foot facility leased to Carle Foundation Hospital in Champaign, Ill., and a 39,000-square-foot building in Lemont, Ill. Additional states included in the deal are Florida, Texas, New Mexico, Hawaii, Alabama, Colorado and South Carolina.