NEW YORK CITY — The Texas-based Alamo Drafthouse theater chain is opening its first location in New York. Alamo Drafthouse will own and operate the five-screen theater, which will be located on the Upper West Side, occupying the former Metro Theater at 2626 Broadway. Like all Alamo Drafthouse theaters, the Alamo Drafthouse at the Metro will provide food and drink service to movie-goers' seats and uphold its famously strict no-talking policy. The new theater is scheduled to open in 2013.
COLLEGEVILLE, PA. — Trappe Strip Center, a 10,664-square-foot retail property in Collegeville, has sold for $1.6 million. The center is located at 430 W. Main St. and was fully occupied at the time of sale. Brad Nathanson of Marcus & Millichap's Philadelphia office represented the seller, a Norristown, Pa.-based private family. He also procured the buyer, a Reading, Pa.-based, privately held real estate company.
HOUSTON — Resource Real Estate Opportunity REIT has acquired the 856-unit Bristol Apartments, located at 1401 Redford St. in Houston, for $11.4 million. The REO property is 52 percent occupied. Amenities of the complex include a clubhouse, swimming pool, fitness center and playground. The buyer plans to invest additional capital to improve the overall condition of the property. Trimont Real Estate Advisors, acting as special servicer on behalf of Fannie Mae, sold the asset.
BRENHAM — Stan Johnson Co. has arranged the sale of a 9,423-square-foot medical office building, which is fully leased for 10 years to St. Joseph's Regional Health Center, located at 110 Hwy. 290 in Brenham. Hunter Jaggard of Stan Johnson Co.'s Houston office represented the seller, Navasota-based GroundForce Building Systems. The buyer is an individual investor from College Station.
KATY — Houston-based Q10 Kinghorn, Driver, Hough & Co. (KDH) has secured $14 million in long-term senior debt permanent financing for a 167,000-square-foot, grocery-anchored center in Katy. The property is 99 percent leased and was built in 2004. Sam McHard of KDH's Houston office arranged the financing through Prudential Mortgage Capital Co.
FRISCO — MoneyGram International has signed a new 25,287-square-foot lease of the entire third floor of 3000 Internet Boulevard, a 150,000-square-foot, Class A building located in Hall Office Park in Frisco. The tenant has an option to expand within the park to accommodate potential growth. Jeff Staubach and Brooke Armstrong of Jones Lang LaSalle's Dallas office represented the tenant in the transaction. The landlord, Hall Financial Group, was self-represented by Kim Vincent Butler, Tammy Lomonaco-Nellis and Brad Gibson. Linda Burns and Dennis Donovan of Bridgewater, N.J.-based WDG Consulting provided site selection services.
DALLAS — CASE Commercial Real Estate Partners has formed a joint venture with Amicus Partners to launch Data Center Advisory Services. Senior managing directors Jeff Crawford, Chuck Smith and Jim Mangus of CASE's Dallas office are leading the new service line. The new entity will offer advice on technical, regulatory and compliance related issues, site selection, development, design, landlord representation, management, tenant representation and project investment opportunities. The new entity will handle compliance requirements, migration planning, virtualization initiatives, maintenance on aging facilities and equipment refresh cycles as it relates to data centers.
GLENDALE, ARIZ. – A 19,841-square-foot, built-to-suit office and industrial building in Glendale has sold to an entity formed by Ron Kaufman of The Ron Kaufman Companies for $4.29 million. The facility is located at 7103 W. Augusta Drive within the Northern Gateway Commerce Park. Boart Longyear has agreed to occupy the facility for at least 10 years. Cassidy Turley represented the buyer, the tenant and the seller, ViaWest Group, which developed the center.
TORRANCE, CALIF. — Hager Pacific Properties has purchased a 28.27-acre industrial site in Torrance for an undisclosed sum. It is located at 19500 Mariner Ave. The company plans to renovate the site and offer about 45,000 square feet of buildings for lease. Hager purchased the property from Dow Chemical Company, which used the site as a manufacturing and terminal distribution center. The sale was managed by Ashley Dillard of CB Richard Ellis in Chicago.
SAN FRANCISCO – Johnson Capital has arranged a preferred equity investment of slightly less than $1 millionfor a 50-unit apartment complex in the San Francisco peninsula area. The complex is owned by a partnership controlled by a Palo Alto, Calif.-based real estate investment company. The complex’s new investor is an institutional opportunity fund. The investment term is intended to be three years or less. The funds will be utilized to recapitalize partnership interests. The investment was arranged by Thomas Bracken of Johnson Capital’s Palo Alto office.