HARKER HEIGHTS — Ross Stores will be opening a new 28,000-square-foot Ross Dress for Less store at the 650,000-square-foot Market Heights Shopping Center in Harker Heights. Other tenants include Target, Bed Bath & Beyond, Dick's Sporting Goods, Barnes & Noble, Old Navy, Ulta and Petco. Dallas-based Direct Development owns the property. Former Dallas Cowboy Troy Aikman serves as principal of the group.
Property Type
AUSTIN — Austin-based Muskin Commercial has brokered the sale of the 124-unit Summer Grove Apartment Homes, located on a 5.38-acre site at 7905 San Felipe Blvd. in Austin. Ellen Muskin of Muskin Commercial represented the seller, Santa Rosa, Calif.-based Summer Grove Properties, in the transaction. The buyers were entities controlled by Los Angeles-based Latitude Management Real Estate Investors. Eliav Dan of Los Angeles-based Verona Capital Markets arranged financing for the property.
CLAREMONT, CALIF. – Courier Place Apartment Homes, a 75-unit affordable housing complex for seniors and families, has opened in Claremont. The project was developed by Jamboree Housing Corporation. WNC & Associates partnered with Jamboree to provide $13,278,629 in Low Income Housing Tax Credits (LIHTC) for the project. Other financing partners included the City of Claremont, Claremont Redevelopment Agency, US Bank, Community Development Commission of the County of Los Angeles and the U.S. Department of Housing and Urban Development. Courier Place is Jamboree’s first multi-generational affordable apartment community and the first in Los Angeles County. The community resides at 111 South College Ave. on the site of the former Claremont Courier newspaper. Courier Place is striving for LEED-Platinum certification.
IRVINE, CALIF. — A 34,006-square-foot, bank-owned office building in the MacArthur Center in Irvine has sold to Radha Soami Society Beas America for $4.5 million. The building was originally constructed as a medical condo project, though the society plans to use it as a non-denominational church for a religious organization. The society was represented by Mike Dorsey of Voit’s Irvine office. The seller, Redus CA Properties, was represented by Jeff Chiate, Rick Ellison and John Gallivan of Cushman & Wakefield.
PHOENIX — A 42,000-square-foot office building in Phoenix has sold to McCarthy/MRL Properties Arizona, LLC for $4,125,000. The building is located at 6225 N. 24th Street. The building is part of a larger office complex that contains 82,000 square feet. Its owners include DLR Group and Baird, Williams & Greer. McCarthy plans to occupy a portion of the building, which will bring it to full capacity. The company was represented by Mark Seale of Cassidy Turley BRE Commercial. The sellers, Univest 6225, LLC (John Maus, Ray Lamb, Jack Ross and David Beckham), were represented by Eric Wichterman, Blake Hastings, Jeff Wentworth and Mike Coover, also of Cassidy Turley.
VAN NUYS, CALIF. – A 10-unit apartment community at 6620 Hazeltine Ave. has sold to Suchite Family Trust and/or Assignee for $2,099,000. The property was originally built in 1978 as a condo complex. The multi-level units underwent a full renovation in 2008. The seller, Symphony Asset Pool VII LLC, a Delaware limited liability company, was represented by David J. Harrington of Hendricks & Partners’ North Los Angeles office.
MIRAMAR, FLA. — Riviera Point Holdings has broken ground on the $17 million, 70,000-square-foot Professional Center at Riviera Point, a two-building office complex located on University Drive in Miramar. The first building is funded by $7.5 million from investors from Venezuela, Argentina and Spain through the EB-5 program. Boca Raton, Fla.-based Corrales Architectural Group designed the property and Cushman & Wakefield has been retained as the leasing agent. The first building is slated for completion in February 2013.
DECATUR, GA. — The four-building Winn Medical Center, located across from DeKalb Medical in Decatur, has sold for $3.67 million. The buildings total 62,000 square feet. Paul Johnson, Chris Dundon, Dave Linder and Bob Johnson of Grubb & Ellis' Atlanta office represented AB Winn Medical, the seller, in the transaction. Atlanta-based Ackerman & Co., the buyer, was self-represented by Chadd Evans.
DAVENPORT, FLA. — Marcus & Millichap has arranged the $2.12 million sale of the 104-room Quality Inn — Davenport, located at 43824 Hwy. 27 in Davenport. Ahmed Kabani of Marcus & Millichap's Miami office represented the seller, a limited liability company, in the transaction and procured the buyer, a private investor.
SPARTANBURG, S.C. — A 50,000-square-foot industrial building, located at 4250 Orchard Park in Spartanburg, has sold for $1.72 million. The building is fully leased to Spartan Foods of America and serves as its corporate headquarters and primary production facility. Drayton Calmes and Frank Norvell of Charleston, S.C.-based Norvell Real Estate Group represented the seller in the transaction. San Francisco-based Redland Group, the buyer, was self-represented.