RICHARDSON — Austin-based The Alamo Drafthouse Cinema has signed a 15-year lease to occupy 30,000 square feet of space at Richardson Heights Shopping Center, located on Interstate 75 and Beltline Road in Richardson. Jerry Averyt of Henry S. Miller Brokerage represented the tenant in the transaction. Frank Bullock and Tyler Isbell of SRS Real Estate Partners represented the owner, Hartman Short Term Properties XX Inc.
DALLAS — Seasons 52 is opening its first Dallas location at NorthPark Center, an upscale mall located at 8687 N. Central Expy. The 8,999-square-foot restaurant will be located between Neiman Marcus and Dillard's. Kelly Hampton and Larry Leon of Venture Commercial represented the tenant in the lease transaction. NorthPark Center was self-represented by Derek Wood. The new restaurant is slated to open in the fall.
PEORIA, ARIZ. — Arrowhead Commerce Center, a 120,948-square-foot industrial park in Peoria, has sold to Arrowhead Commerce Center Partners, LLC for $7.3 million. It is located at 8581-8643 West Kelton Lane. The three-building center was built in 1999 and was 73 percent leased at the time of closing. The seller, MECG-Arrowhead 1, LLC, Et Al, was represented by Paul Boyle and Rick Danis of Cassidy Turley BRE Commercial’s Capital Markets Group, and Tom Atkinson and John Pompay of Cassidy Turley BRE Commercial’s Industrial Group.
FALLBROOK, CALIF. – Summer Ridge, a 96-unit affordable housing complex in Fallbrook, has sold to Summer Ridge 96 LP for $6.8 million. The community is located at 818 East Alvarado Street. The buyer is a California limited partnership with Social Services & Affordable Housing Corporation. Chris Hutchison of Alcole Capital and Gregory Reed of Beech Street Capital arranged $5.4 million in financing for the transaction. The transaction was executed by Allen Chitayat and Steve Huffman of Hendricks & Partners’ San Diego office and Douglas Simmons of DWS Real Estate.
LA MESA, CALIF. – The 26-unit La Mesa Villas apartments in La Mesa has sold to Pine Street Park LLC for $3.75 million. The community is located at 8862 La Mesa Blvd. The seller, First Fund LLC, was represented by David Andrews of Hendricks & Partners’ San Diego office.
WEST HOLLYWOOD, CALIF. – A seven-unit apartment complex located at 144 North Wetherly Drive in West Hollywood has sold to KLB Holding Company for $2.35 million. The 10,830-square-foot complex was built in 1963. KLB was represented by Rachel Neuwirth of Nelson Shelton & Associates. The seller, a local private investor, was represented by Hamid Soroudi of Charles Dunn Company.
SIMI VALLEY, CALIF. — All American Containers has leased a 76,090-square-foot industrial building in Simi Valley. The facility is located at 2390 Ward Ave., Unit B. The lease was valued at $1.4 million. All American will be relocating from a 29,000-square-foot facility. It was represented by John DeGrinis, Patrick DuRoss and Jeff Abraham of Colliers’ Encino, Calif., office. The landlord was represented by Scott Caswell of Delphi Business Properties.
BRUNSWICK, GA. — The 111,924-square-foot Village at Glynn Place, located in Brunswick, has sold for $11.35 million. Publix anchors the property, which is 96.7 percent leased. Additional tenants include Lendmark Financial Services, Cato Fashions, Papa John's, Sally Beauty Supply and Goodwill. Phillips Edison — ARC Shopping Center REIT acquired the property through its joint venture, PECO-ARC Institutional Joint Venture I LP.
CHARLOTTE, N.C. — Equity One has sold the 98-unit Laurel Walk, a garden-style apartment complex located at 908 Summit Walk Dr. in Charlotte, to Eller Capital and Parsons Commercial for $6 million. The buyers plan to complete an interior upgrade, specifically in the kitchen of each unit. Jordan McCarley of Southeast Apartment Partners' Charlotte office represented the seller in the transaction.
CANTON, GA. — A 15,000-square-foot Walgreens, located at the intersection of Hickory Flat Highway and East Cherokee Road in Canton, has sold for $4.67 million. Mark Cooley and Neal Pringle of The Shopping Center Group's Atlanta office represented the seller, an Atlanta-based developer, in the transaction. The buyer was a California-based investor. The freestanding building is leased to Walgreens through July 31, 2030.
