HOUSTON — Dallas-based Spire Realty Group has acquired the 342,000-square-foot 1177 West Loop South, an 18-story office tower located in Houston's Galleria submarket. The Class A property is 96 percent leased to tenants including Cornerstone Mortgage Co., Brown Sims and Heritage Texas Properties. The seller was URDANG, a partnership sponsored by Houston-based Griffin Partners.
COPPELL — Archway SCM has leased 90,118 square feet of office/warehouse space, located in KTR's Freeport Crossing Project at 777 Freeport Pkwy. in Coppell. John Lancaster and Rick Medinis of Dallas-based NAI Robert Lynn represented the tenant in the lease transaction. J. Denton Shamburger of Lincoln Property Co.'s Atlanta office represented the landlord.
AUSTIN — The 477,102-square-foot Capital Plaza, a regional shopping center located at 400 N. Interstate 35 and Highway 290 in Austin, has recently added three national tenants to its merchant roster. Shepler's Western Wear has leased 25,269 square feet, Champs Sports leased 5,937 square feet and Anna's Linens leased 13,600 square feet. Michele Gary and Terri Twomey of The Weitzman Group's Austin office represented the shopping center in all three lease transactions. Daren Nix of Edge Realty Partners' Austin office represented Shepler's, Charlie Quisenberry of Austin-based Steve T. Matthews Co. represented Champs and Russ Howard The Weitzman Group's Austin Office, along with Marc Marrocco of the firm's Dallas/Fort Worth office, represented Anna's Linens. Other tenants in the shopping center include Target, Ross Dress for Less, Fallas Paredes, Melrose, Walgreens, Mattress Firm and Chase Bank.
HOUSTON — Birmingham, Mich.-based Bloomfield Capital has funded a $5 million senior bridge loan, which is collateralized by a 300-unit multifamily complex. The borrower used the loan to acquire the REO property.
IRVING — NorthMarq Capital has secured first mortgage refinancing for the 390-unit Woodland Ridge Apartments, located at 3725 W. Northgate Drive in Irving. Greg Duvall of NorthMarq's Kansas City, Mo., office arranged the 10-year loan with a 30-year amortization schedule through Freddie Mac.
CAMARILLO, CALIF. – A 32,110-square-foot industrial property in Camarillo has sold to Neff, Inc. for $3,204,201. The property is located in a master-planned business park. It includes a two-story office space. The seller, DeRado Trust, was represented by Timothy P. Foutz of NAI Capital’s Encino, Calif., office.
SANDY, UTAH — Pedersen Worldwide, parent company of Del Sol and Cariloha, has renewed its lease for its global headquarters in Sandy. The Del Sol and Cariloha retail brands will continue to be housed at the facility. Pedersen also signed a lease for its new worldwide distribution center at Freeport West’s Landmark Industrial Park in Salt Lake City. The company will occupy the new distribution center in the third quarter of 2012. NAI Global Corporate Solutions’ Jason Smith and Erik Simper acted as Pedersen’s corporate real estate partner. Smith and Simper, along with NAI’s Luke Burbank, also represented Pedersen in the warehouse transaction. Freeport West was represented by Brad Ross and Mark Dewald. The landlord, the Boyer Company, was represented by Spencer Summerhays and Jake Boyer.
RANCHO CUCAMONGA, CALIF. — The 98,176-square-foot Kindred Hospital Rancho and a medical office building in Rancho Cucamonga have sold for an undisclosed sum. The property was built in 1996 and is located at 10841 White Oak Ave. The long-term acute care hospital building contains 55 beds and an attached, three-story medical office building. Colliers’ John Wadsworth, Tom Lagos and El Warner represented the seller, Pacific Health Realty, LLC, in this transaction.
CARROLLTON, GA. — A public-private venture between the University System of Georgia Board of Regents and the University of West Georgia Foundation has plans to build a $26.5 million housing and dining complex at the University of West Georgia. RA-LIN and Associates has been selected to provide construction management services. The architect is Atlanta-based HADP. Two existing residence halls, Downs Hall and Boykin Hall, will be razed as well as the Art Annex building. These structures will be replaced with two new residence halls totaling 460 beds and a 30,000-square-foot dining facility with seating for 320. Plans also call for construction of office space for university housing and residence life staff within the dining facility. In addition, Bowdon Hall, a 290-bed residence hall, will be renovated to include ADA accessibility, updated bathrooms, wireless Internet and other improvements. Construction is scheduled to begin in July with a completion target of August 2013.
TAMPA, FLA. — Marcus & Millichap has arranged the $2 million sale of the 40-unit Dale Mabry Palms Apartments, a Class B garden-style apartment complex located at 5901 S. Dale Mabry Hwy. in Tampa. Casey Babb and Luis Baez of Marcus & Millichap's Tampa office represented the seller, a developer, in the transaction and procured the buyer, a private investor.
