Property Type

STREAM REALTY MOVES TO TRAMMELL CROW CENTER

by admin May 11, 2012

DALLAS — Stream Realty Partners is planning to lease 40,000 square feet of office space at Trammell Crow Center, a 1.2 million-square-foot office tower located in Dallas' Art District. The 50-story tower's tenants include Vinson & Elkins, Baker Botts and PricewaterhouseCoopers. Stream Realty will move into the tower in fall 2012. The firm is expanding its Dallas office to the tower due its 30 percent growth since January 2011. Stream Realty was recently awarded the tower's leasing and management duties.

May 11, 2012

M&M BROKERS $27.8M WALGREENS SALE

by admin May 11, 2012

LAS VEGAS — Marcus & Millichap has arranged the $27.8 million sale of a 16,016-square-foot Walgreens, located at 3025 S. Law Vegas Blvd. on the Las Vegas strip. At a sale price of $1,736 per square foot, it is the most valuable single-tenant drugstore to ever trade in the U.S. Ray Germain of Marcus & Millichap's Las Vegas office represented the seller, a local real estate investment partnership, in the transaction. Sean Shahar Ziv of the firm's San Diego office represented the buyer, a foreign fund. Walgreens was in the 11th year of a 20-year, triple-net lease and prior to the close of escrow Germain negotiated an additional 10-year extension.

May 11, 2012

Multifamily Western

JRK PROPERTY BUYS BRIARGATE ON MAIN

by admin May 11, 2012

PARKER, COLO. — JRK Property Holdings has purchased the 325-unit Briargate on Main apartment community in Parker for an undisclosed sum. The community was built in 2003 and was 93 percent occupied at the time of sale. The seller, Colony Realty Partners, was represented by Doug Andrews, Jeff Hawks, Shane Ozment and Terrance Hunt of ARA Colorado.

May 11, 2012

Office Western

CIP LEASES, PLANS TO RENOVATE SUMMIT BUSINESS CENTER

by admin May 11, 2012

RIVERSIDE, CALIF. — CIP Real Estate has secured 45,000 square feet worth of leasing space at the Summit Business Center in Riverside. This includes a 3,500-square-foot office space for the State of California; 7,500 square feet for Advanced Imaging Solutions; and 2,500 square feet for Goodwill Industries. Crescent Healthcare also expanded its space at the center by 6,300 square feet, while the County of Riverside extended its lease for 15,200 square feet of space. These lease transactions have increased the center’s occupancy from 35 percent to 50 percent. CIP also recently announced plans to invest $1.6 million in capital improvements at the center, as well as $2.2 million for interior tenant improvements. Renovations are expected to be completed in the second and third quarters of 2012. Phil Woodford and Vindar Batoosingh of CBRE’s Ontario office represented the property’s landlord in all the lease transactions.

May 11, 2012

Industrial Western

VIATEK SOLUTIONS LEASES 23,225 SF AT FREEPORT BUCKEYE WEST

by admin May 11, 2012

PHOENIX — ViaTeK Solutions has signed a three-year lease for 23,225 square feet of warehouse space at Freeport Buckeye West in Phoenix. This will be the company’s first Phoenix-area location. ViaTeK was represented by Bill Bayless and Andrew Brigham of CBRE’s Phoenix office. The landlord, B-V Freeport Distribution Center LLC, was represented by Bo Mills, Mark Detmer and Will Strong of Cushman & Wakefield in Phoenix.

May 11, 2012

Multifamily Western

ACADEMY LOFTS RECEIVES $1.6M

by admin May 11, 2012

TUCSON, ARIZ. – The 22-unit Academy Lofts in Tucson has received $1,668,000 in first-mortgage refinancing. The loan features a 10-year term and a 30-year amortization schedule. It was arranged by James DuMars and John Kinser of NorthMarq’s Phoenix regional office via the firm’s relationship with Fannie Mae.

May 11, 2012

Retail Southeast

CVS SELLS FOR $3.45M

by admin May 10, 2012

WINSTON-SALEM, N.C. — A 10,125-square-foot CVS/pharmacy, located in Winston-Salem, has sold for $3.45 million. The freestanding building is leased to CVS/pharmacy through Jan. 31, 2023. Terry Marks of New Hope, Pa.-based National Net Lease Investors represented the buyer, a Pennsylvania-based investor, in the all-cash transaction. The seller was a North Carolina-based developer.

May 10, 2012

Retail Southeast

IRONCLAD SELF STORAGE SELLS FOR $3.11M

by admin May 10, 2012

CHAPEL HILL, N.C. — The 42,370-square-foot, 433-unit Ironclad Self Storage, located at 102 Vickers Rd. in Chapel Hill, has sold for $3.11 million. Joy Godbold of Percival McGuire Commercial Real Estate and Argus Self Storage Sales Network represented the seller, W. Mitchell, in the transaction. Phoenix-based Amerco Real Estate, the buyer, also purchased an additional 5 acres for future expansion.

May 10, 2012

Retail Southeast

INTEGRA BUYS FLA. RETAIL PROPERTY FOR $1.75M

by admin May 10, 2012

LARGO, FLA. — Fort Lauderdale, Fla.-based Integra Real Estate Corp. has acquired a 10,300-square-foot shopping center, located at U.S. 19 and East Bay Drive in Largo. Tenants include FedEx Kinko's and Einstein Bros. Bagels. Joe Tyszko of Insite Real Estate represented the seller, a private investor, in the transaction. The buyer was self-represented by Michael Rechter.

May 10, 2012

Multifamily Southeast

FLA. REO APT. COMPLEX SELLS FOR $1.04M

by admin May 10, 2012

TAMPA — The 25-unit Merasol on Bayshore, a foreclosed multifamily property located at 6515 Bayshore Blvd. in Tampa, has sold for $1.04 million. Kevin Kelleher, Darron Kattan and Bob Goldfinger of Franklin Street represented both the seller, a regional bank, and the buyer, a private local investor, in the transaction. The property was acquired with neighborhood stabilization funds, and the buyer has planned an extensive renovation.

May 10, 2012

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