NEW YORK CITY — Marcus & Millichap Real Estate Investment Services has arranged the $2.3 million sale of 580-586 E. 22nd St., a 20-unit apartment building in Brooklyn. Shaun Riney and Derek Bestreich of the Brooklyn office of Marcus & Millichap represented the seller, a limited liability company. They also secured the buyer, a private investor.
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LYNDHURST, N.J. —Aeropostale has moved to 125 Chubb Way in Lyndhurst, having signed a 68,949-square-foot lease at the property. The teen apparel retailer relocated its regional operations from Wayne, N.J. Aeropostale joins other blue-chip tenants such as Barnes & Noble and Knowledgepoint360 Group. Remy deVarenne, Sarah Jones, Amanda Bokmon and Richard Carson of CBRE represented Aeropostale in the deal. John Barnes and Clark Briffel of SL Green Realty Corp., along with Greg Barkan of CBRE, represented the building owner.
OAK BROOK, ILL. — In a joint venture, Inland Real Estate Corp. and Inland Private Capital Corp. have acquired two portfolios of single-tenant retail properties for $40.8 million. The seven properties total 95,630 square feet. The four stores net-leased to Walgreens are located in Dunkirk, N.Y.; McPherson, Kan.; St. George, Utah; and Nampa, Idaho. The three properties net-leased to CVS are located in Lees Summit, Mo.; McAllen, Texas; and Newport News, Va. The stores range in size from 12,900 to 14,490 square feet.
BOSTON — Love Funding has arranged a $4 million loan to refinance Compass on the Bay, a Boston-based assisted living facility. Leonard Lucas of Love Funding's Boston office secured the loan through the U.S. Dept. of Housing and Urban Development's 232/223(a)(7) loan program. Compass on the Bay is operated by Senior Living Residences and contains 39 units.
DALLAS — Dallas-based Capital Senior Living has acquired five senior living communities in Texas and Indiana for $49.4 million, which include independent living, assisted living and memory care facilities. The communities were financed with $37.5 million of 10-year fixed rate debt. The properties have an average 94 percent occupancy and average monthly rents of approximately $3,200.
SAN ANTONIO — The University of Texas-San Antonio (UTSA) has selected HKS Sports & Entertainment Group to build a sports complex on the 125-acre UTSA Park West Campus. The complex will be constructed in multiple phases, and Phase I will include the construction of a 1,000-seat soccer stadium, a 1,000-seat track-and-field stadium and a 500-space parking lot. HKS is working with San Antonio-based Overland Partners Architects on the project's design. Bartlett Cocke General Contractors is providing construction services for Phase I, which is slated for completion in fall 2013.
ARLINGTON — Marcus & Millichap has arranged the sale of the 40,230-square-foot Matlock Mayfield Village, a retail center located at 3330 Matlock Rd. in Arlington. The property is currently 70 percent occupied. Bill Jordan of Marcus & Millichap's Fort Worth office represented the seller, a local limited liability company, in the transaction and procured the buyer, an out of state limited liability company.
ONTARIO, CALIF. — Two manufacturing buildings in Ontario have been purchased by Rexford Industrial for $4.8 million. The buildings reside on 8.93 acres adjacent to Ontario International Airport. This was an off-market, sale-leaseback transaction that was executed on behalf of Rexford Industrial Fund V REIT. The seller, Plastics ResearchCorporation, has signed a 10-year lease to fully occupy the buildings at 1400 South Campus Ave. Dan Foye of Daum Commercial represented both Rexford and Plastics Research in this transaction.
SAN JUAN CAPISTRANO, CALIF. — O'Reilly Automotive has signed a 15-year lease for a 6,000-square-foot retail location in San Juan Capistrano. The property, which was formerly a Sizzler, is located at 31863 Del Obispo. The company plans to use this new location to expand its Orange County presence. O'Reilly was represented by Keith Kropfl of Voit’s Irvine office. The owner, Theodore H. Stroscher Investments, LLC, was represented by Jim Clarkson of Strategic Retail Advisors in this transaction.
LOS ANGELES — A four-unit apartment complex in Los Angeles has sold to a private investor for $1.8 million. The community is situated on a 7,884-square foot lot at 2640 North Beachwood Drive. Tony Azzi of Marcus & Millichap’s West Los Angeles office represented both the buyer and the seller, a limited liability company, in this transaction.