NEW YORK CITY — Marcus & Millichap has arranged the $1.7 million sale of 452 Atlantic Ave., an eight-unit apartment building in Brooklyn. Matthew Rosenzweig of Marcus & Millichap's Brooklyn office represented the seller, a local investor. He also secured the buyer, a local investor.
DEVENS, MASS. — Saint-Gobain has signed a lease for 200,000 square feet of industrial space at 112 Barnum Road in Devens. The French multinational corporation plans to invest $31 million in the facility and hire 90 new employees to manufacture a component of LEDs (light emitting diodes) for one of its divisions, Saint-Gobain Crystals. Production is expected to begin in early 2013. Robert Gibson and Ed Jarosz of CBRE Group represented the owners, Hackman Capital and Calare Properties, in the transaction.
HOUSTON — Younan Properties, along with joint venture partner Passco Cos., has sold its 272,113-square-foot Younan West Loop South, a Class A high-rise office tower attached to the Marriott Hotel in Houston's West Loop district. The buyer was Salt Lake City-based ROC Bridge Partners. Darrell Betts of Avison Young represented Younan in the transaction.
FORT WORTH — Dick's Sporting Goods is slated to open a 50,000-square-foot store that will anchor the 140,000-square-foot Phase II of Alliance Town Center, located on Interstate 35 West at Heritage Trace Parkway in North Fort Worth. Alliance Town Center currently spans 800,000 square feet and includes tenants such as Belk, JC Penney, Best Buy, Jos. A. Bank, Kroger Marketplace, PetSmart, Ulta, Olive Garden and Chick-fil-A, among other retailers and restaurants. The shopping destination is owned by a joint venture between Hillwood and Trademark Property Co. Construction of the Dick's Sporting Goods store is slated to begin in July and is scheduled to open in the summer of 2014.
HOUSTON — HFF has secured $85 million in refinancing for The Houstonian Hotel, Club & Spa, an 18.34-acre urban resort located in Houston's Galleria submarket. Matt Kafka and Corby Chaffin of HFF arranged the loan through AXA Equitable Life Insurance Co. and its advisor Quadrant Real Estate Advisors on behalf of the borrower, Houston-based The Redstone Companies.
LEAGUE CITY — Marcus & Millichap has arranged the $5.25 million sale of The Lakes Professional Center, a 24,240-square-foot office property located at 6455-6465 S. Shore Blvd., Suite 400 in League City. Tanner McGraw of Marcus & Millichap's Houston office represented the buyer, a private investor, in the transaction.
HOUSTON — ARA has brokered the sale of the 256-unit Briar Meadows Apartments, located at 1414 S. Dairy Ashford St. in Houston's West Memorial/Briar Forest submarket. The complex is 94 percent occupied and features a swimming pool, heated outdoor spa, indoor sauna, tennis courts and a business center. David Mitchell of ARA's Houston office represented the seller, Austin-based Falcon Southwest, in the transaction. The buyer was San Francisco-based Stockbridge.
INDIO, CALIF. — The 186-unit Andorra apartments in Indio has sold to ROC | Bridge Partners for $12,025,000. The community was built in 1987 at 81720 Ave. 46. The seller, The Situs Companies, was represented by Alex Mogharebi of Hendricks & Partners’ Ontario office in this all-cash transaction.
SANTA MONICA, CALIF. — CIM Group has purchased Lincoln Place, a Class A office building in Santa Monica. The 37,572-square-foot building was constructed in 1990 at 725 Arizona Ave. The firm has made other investments in the area, including 11600 and 11620 Wilshire Blvd. in Brentwood, and 150 and 151 El Camino Drive in Beverly Hills.
ANAHEIM, CALIF. — Younan Properties has purchased the Anaheim Corporate Center in Anaheim. The acquisition marks the firm’s re-entry into Orange County and will allow it to expand its Southern California presence. Younan notes it is targeting a few more transactions before year’s end. The seller, LNR Partners, was represented by Michael Lawrence of Marcus & Millichap.
