HOUSTON — Coldwell Banker Commercial United, Realtors has arranged the sale of 10-unit Magnolia at Fleur Gardens, a garden-style condominium property located at 6353 Richmond Ave. in Houston. Mark McGinley of Coldwell Banker represented the institutional sellers in the transaction. Quinn Luong of Texas Midland Realty represented the international buyer. The property was developed in 2006.
LUFKIN — Marcus & Millichap has brokered the sale of the 18,638-square-foot Town South Center, located at 103 N. Brentwood Drive in Lufkin. James Bell of Marcus & Millichap's Houston office represented the seller, a developer, in the transaction. The property is shadow-anchored by a Walmart Supercenter and a Sam's Club.
BAKERSFIELD, CALIF. — Titan Real Estate Investment Group has purchased a 360,000-square-foot cold storage facility in Bakersfield for $15 million. The facility contains 9 million cubic feet of refrigerated and dry storage space. It is the largest refrigerated storage facility in Kern County, according to Titan, which plans to expand the facility’s refrigerated capacity. Following this acquisition, the company also formed Titan Cold Storage.
NEWPORT BEACH, CALIF. — An 18,066-square-foot office building in Newport Beach has sold to Bristol Street Partners for $4.2 million. The building is located at 2350 SE Bristol Street. It is fully occupied by Walldesign. Bristol Street was represented by Jim Schoolfield and Taylor Wood of Cresa Partners in Newport Beach. The seller, Ru Investments, was represented by Tony Gleason of Voit Real Estate Services’ Irvine office.
EL CAJON, CALIF. — Mossy Automotive Group has purchased an 18,800-square-foot showroom/office building in El Cajon for $2.5 million. The property is situated on 3.7 acres at 266-300 El Cajon Blvd. Mossy also recently leased two other contiguous lots at 230 and 260 El Cajon Blvd. and 342-360 El Cajon Blvd. The lots total 80,586 square feet and now house a VW dealership. Mossy was represented by Kerry Schimpf and Cameron Czubernat of Cassidy Turley San Diego in all three transactions. The lessors, Debbie Huntamer, Albert Erigat and Victoria Erigat, were represented by Mark Robak of Trinity Commercial.
FORT COLLINS, COLO. — Foothills Mall, a 753,000-square-foot, enclosed super regional mall in Fort Collins, has sold to a joint venture formed by affiliates of Walton Street Capital and Alberta Development Partners. The purchase price was not disclosed. The mall, which is anchored by Macy’s and Sears, will undergo a major revitalization.
JACKSONVILLE, FLA. — The Morgan Group has started construction on the 240-unit Terrace at Town Center, a garden-style apartment community located in Jacksonville's Southside/JTB corridor. Amenities will include a resort-style swimming pool with grilling stations, a dog park, state-of-the-art fitness center, Internet lounge, demo kitchen and resident room. The first units are slated for completion in December. The Morgan Group will serve as the management company upon completion.
ORLANDO, FLA. — GDC Properties has broken ground on the 118-room Aloft Orlando Downtown, a new Starwood Hotels & Resorts Worldwide hotel located at 500 S. Orange Ave. in Orlando. The hotel will include a w xyz bar, re:mix lounge, re:charge fitness center, splash outdoor pool and 5,000 square feet of flexible meeting space. Yedla Management Co. will operate the hotel upon completion, which is slated for 2013.
PENSACOLA AND ORLANDO, FLA. — IRA Capital has purchased two Florida shopping centers totaling 63,000 square feet for $9 million. The 49,800-square-foot Fairfield Crossings in Pensacola is fully leased to Ross Dress for Less, Office Depot and T-Mobile. Alvin Mansour with Marcus & Millichap represented the seller in the transaction, and AZUR Realty Partners, an affiliate of IRA, represented the buyer. In Orlando, the company acquired a 10,500-square-foot center that is fully leased to Verizon Wireless and Mattress Firm. Jeff Winokur of JH Winokur represented the seller in the transaction. AZUR Realty Partners represented the buyer.
GREENVILLE, S.C. — HFF has arranged $29.5 million in refinancing for a 12-building office portfolio totaling 569,841 square feet, located in Greenville. The properties are part of the Park East and Park Central office parks. Wally Reid and Chip Sykes of HFF secured the four-year, fixed-rate loan through a private investor.
