RICHMOND — The law office of Steven Rocket Rosen has purchased the 6,000-square-foot Morton Street Gallery, a 6,000-square-foot gallery located at 214 Morton St. in Old Town Richmond. The gallery will be repositioned into an office building. Tawnya Dornak of Sugar Land-based ICO Commercial represented the buyer in the transaction. Diana Powers of Richmond-based RE/MAX Plantation represented the undisclosed seller.
DALLAS — BOKA Powell has created a new design for the 400,000-square-foot Victory Park office tower, a Class A building under construction in the Victory Park mixed-use development in downtown Dallas. BOKA Powell is teaming with KDC for the construction of the 23-story tower, which includes eight stories of parking. The design features 10-foot ceiling heights, high efficiency mechanical and electrical systems, LED lighting systems and an elevator control system that reduces the number of hoistway openings. Construction is expected to begin this fall and is slated for a late 2014 completion. BOKA Powell is working with potential tenants on office layouts and is pursuing LEED certification.
DES MOINES, WASH. – The 88-unit Bay Club Apartments in Des Moines has sold to Randolph Street Realty Capital for $7.2 million. The property was built in 1987 and upgraded in 2005. The transaction was brokered by Karlin Conklin of Sperry Van Ness | Bluestone & Hockley and Josh Jansen of Coast| Sperry Van Ness. The property was marketed on behalf of a Tenant-In-Common ownership group.
RIVERSIDE, CALIF., SALT LAKE CITY — The Alison Company’s Shaun Moothart has arranged $4.2 million in financing for three Western-based single-tenant properties. This included two retail buildings in Riverside that are currently occupied by Rite-Aid and a newly built office building in Salt Lake City that is occupied by a government agency. Loan terms range from 20 to 25 years with 25-year amortization schedules. Interest rates are in the low 5 percent range. All three loans were placed with correspondent lenders by the Alison Company, which will service the loans.
COMPTON, CALIF. — Topson Downs has leased 123,000 square feet of distribution space in the Dominguez Hills Industrial Park. The space is located at 2500 South Edison Way in Compton. The apparel manufacturer’s new facility also includes 10,000 square feet of office space. Topson Downs was represented by Mike Poyer of Capital Real Estate Advisors. The building’s owner, Prudential Real Estate Investors, was represented by Rooney Daschbach, Steve Bohannon, Rusty Smith, and Eric Daschbach of Cushman & Wakefield.
LOS ANGELES – An 18-unit apartment community located at 2469 S. Robertson Blvd. in Los Angeles has sold to 6656 Fountain LLC for $2.29 million. The property was fully occupied at the time of closing. Michel Hibbert of Charles Dunn Company represented both the buyer and the seller, 2469 S. Robertson Associates, LP, in this transaction.
MIAMI — Marcus & Millichap has arranged the $4.6 million sale of a 42,000-square-foot office building, located at 550 LeJune Rd. in Miami, and an adjacent 8-unit apartment building. Greg Zeifman and Benjamin Silver of Marcus & Millichap's Miami office represented the seller, a Miami-based international nonprofit organization, in the transaction and procured the buyer, a Miami-based developer.
WOODSTOCK, GA. — A single-tenant, triple-net leased National Tire and Battery Auto Parts, located at 2010 Eagle Dr. in Woodstock, has sold for $2.5 million. The tenant is the sole occupant of the 7,383-square-foot building. Randy Blankstein and Jimmy Goodman of Northbrook, Ill.-based The Boulder Group represented the buyer, a high net worth family office, in the transaction. The seller was a Southeast-based developer.
ATLANTA — The 900,000-square-foot Atlanta Financial Center, located at 3343 Peachtree Rd. NE in Atlanta's Buckhead submarket, has achieved LEED Silver certification. Hines owns and manages the building, which is currently 83 percent leased. Tenants include Morris, Manning & Martin, North American Electric Reliability Corp., Prudential Insurance Co. of America, Robert Half International and SunTrust Robinson Humphrey. Green features include alternative transportation options of commuters; a partnership with Sustainable Buckhead and the Buckhead Area Transportation Management Association; an on-going electronic recycling program; energy efficient lighting with reduced mercury content; environmentally sensitive cleaning products and practices; and reduction of water use through the utilization of low-flow fixtures. The building is 24 percent more energy efficient and annually saves more than $630,000 in energy costs compared to the average U.S. office building.
NEW PORT RICHEY, FLA. — NorthMarq Capital has arranged $6.3 million in first mortgage refinancing for the 221-unit Hunters Ridge Apartments, a seniors housing community located at 5223 Hunters Ridge Dr. in New Port Richey. Lee Weaver of NorthMarq's Tampa, Fla., office arranged the 10-year loan with a 25-year amortization schedule through AmeriSphere Multifamily Finance.