SAN ANTONIO — 4M Realty has arranged a 1031 tax exchange for the sale of the 12,421-square-foot Castle Hills Crossroads, a retail center located at 2277 NW Military Hwy. in San Antonio. Sandi Leone of San Antonio-based 4M Realty represented the seller in the transaction. David Ballard of San Antonio-based Reata Real Estate represented the buyer, KFM Partners.
TROPHY CLUB — NorthMarq Capital has secured $9.7 million in financing for the 106,507-square-foot Trophy Club Plaza, a grocery-anchored shopping center located at 101 Trophy Lake Dr. in Trophy Club. A 63,654-square-foot Tom Thumb grocery store anchors the center, which includes tenants such as Starbucks, Verizon Wireless, Subway and Great Clips. John Stewart and Brock Yaffe of NorthMarq's Denver office arranged the financing on behalf of the California-based borrower.
CHICO, CALIF. – The 164-unit Trans Pacific Gardens II in Chico has sold to DHI Trans Pacific Gardens Associates by Trans Pacific Limited Partnership for $9.25 million. The community is located at 729 Nord Ave. The transaction was negotiated by Steven A. Nelson and Al R. Inouye of Hendricks & Partners’ Sacramento, Calif., office.
SALT LAKE CITY — Franchisee Mark Peterson plans to bring several new Taco Bells to Utah. The state hasn’t received a new Taco Bell in more than 10 years. The first location will be a 2,500-square-foot store in Payson that will debut in May. Peterson has also purchased land for a Taco Bell in Herriman, and has several more locations in the works. He is working with CBRE’s Salt Lake City office to select more sites. Russ Harris, vice president and retail specialist at CBRE, represents Taco Bell.
CHESAPEAKE, VA. — Wood Partners has started construction on the $39 million, 280-unit Streets of Greenbrier, located at 929 Wintercress Way in Chesapeake. Amenities will includes a swimming pool, courtyards with grilling areas, dog park, play area, a car care center and a 5,500-square-foot clubhouse, which will contain a cyber cafe, 24-hour fitness center and a Nintendo Wii gaming area. KBS is the general contractor and Cline Design Associates is the architect. The first apartments will be available in January 2013, with construction completed in August 2013.
POTOMAC FALLS, VA. — CAPREIT has acquired the 103-unit The Commons on Potomac Square in Cascades, located at 21240 McFadden Square in Potomac Falls, from Comstock Homebuilding Corp. for $19.35 million. Construction on the four-story building was recently completed. Haze McCrary and Dave Belford of Bethesda, Md.-based Broad Street Realty represented the seller in the transaction. Jim Gulley represented the buyer.
MIAMI — Carrfour Supportive Housing has received $17 million in financing through HUD's Neighborhood Stabilization Program 2 to renovate three formerly distressed apartment complexes in Miami. Carrfour will renovate 56 units at Harvard House, located at 2020 NE 169th St. The $4.4 million project will begin later this month with completion slated for late 2012. At Hampton Village, located at 4301 NW 29th Ave., the company will renovate 100 units, representing a $6 million investment. Construction will begin this summer and completion is expected in late 2013. Carrfour will also renovate 100 units at Tequesta Knoll, located at 1629 NW 14th Terrace in Miami. Construction for the $5.6 million project has started and will be completed in late 2012.
TAVARES, FLA. — Charles Perry Partners Inc. has commenced construction on the $6.6 million, 28,485-square-foot Lake County Emergency Communications & Operations Center, located in Tavares. Winter Park, Fla.-based Architects Design Group designed the property, which is slated for completion in January 2013. It will replace the current emergency operations center in the County Administration Building.
CHICAGO — Reed Construction has been selected to complete a build-out project for Women's Health Consulting at 200 S. Michigan Ave. in Chicago. Women's Health is a fertility and pregnancy management practice comprised of physicians affiliated with Rush University Medical Center in Chicago. The medical group is relocating to the new space from 55 E. Washington. The 7,000-square-foot project will includes the addition of 10 exam rooms as well as private doctor and staff offices. Jeremy Raridon of Reed Construction is the project manager and D&K Architects will provide architectural services. The project is scheduled for completion this April.
CHICAGO — Marcus & Millichap Real Estate Investment Services has arranged the $515,000 sale of an apartment building in the Chatham neighborhood of Chicago. The 25-unit property is located at 8125 S. Evans Ave. Anthony Hardy of Marcus & Millichap's Oak Brook, Ill. office and Marc Sommer of the firm's Chicago office represented the seller, a limited liability company. The duo also secured the buyer, a limited liability company.
