EDISON, N.J. — Futai Inc., one of the world's largest umbrella manufacturers, has purchase 7 Parkway Place in Edison. The company plans to relocate its divisional headquarters to the 50,000-square-foot warehouse, located within Raritan Center Industrial Park. Rachel Pittard and Stephen Elman of Cushman & Wakefield represented Futai in the transaction. The purchase price is undisclosed.
THE WOODLANDS — The Howard Hughes Corp. has partnered with Huntsman Corp. to complete a feasibility study for expanding the Huntsman facility, located in the Research Forest area of The Woodlands. The plans show an increase in the research and development capacity as well as a new five-story, 236,000-square-foot office building with an attached 900-space parking garage. The companies are exploring the opportunity to construct three new Class A office buildings and an adjacent parking garage.
AUSTIN — Dallas-based CMC Commercial Realty Group has commenced construction on the 308-unit Ladera Hill Country Apartments, a Class A multifamily property located along Interstate 35 between William Cannon Drive and Slaughter Lane in Austin. Greystar will manage the property. The apartments will include stainless steel appliances, enhanced lighting and granite countertops. Amenities will include a resort-style pool, fitness center, yoga studio, dog park and private garages.
AUSTIN — Austin-based KW Commercial has arranged the sale of a 9,750-square-foot retail and medical center, located at 12400 N. Interstate 35 in Austin. The tenants include Einstein Bagels, JuiceSpot, Austin Orthodontic and TechRidgeDental. Nick Nelson and Jim Young of KW Commercial represented the buyer, an out-of-state investor, in the transaction. Greg Porter of Austin-based MP Commercial Partners represented the seller.
DALLAS — Sonnenblick-Eichner Co. has secured $17.5 million in first mortgage financing for the 300-room DoubleTree by Hilton Hotel Dallas-Campbell Centre, located in Campbell Centre just north of downtown Dallas. Campbell Centre is a mixed-use property that contains the hotel and two 21-story office buildings, totaling approximately 875,000 square feet. The 21-story hotel features 14,966 square feet of meeting space. Sonnenblick-Eichner arranged the 5-year, non-recourse loan through a private real estate debt fund.
MUSTANG, OKLA. — Kennedy Funding has completed the $3.47 million note purchase of a non-performing loan for the 88,999-square-foot Silver City Town Center, a retail center located in Mustang. The loan purchaser was a limited liability company, and the loan borrower was Silver City Town Center LLC. Under the terms of the agreement, the borrower can repurchase the loan. The retail center is 55 percent leased to tenants including Tractor Supply Co., Salvation Army, The Vine and Urgent Care. Taco Bell and KFC are leasing outparcels.
CHULA VISTA, CALIF. — Castle Park, an 87,103-square-foot, grocery-anchored shopping centerin the San Diego submarket of Chula Vista, has received $8.5 million in first-mortgage financing. Notable tenants at Castle Park include Save-A-Lot, Auto Zone, DD’s, Factory 2-U and Union Bank. The loan features a five-year term and a 25-year amortization schedule. Doug Austinof NorthMarq‘s San Diego regional officearranged the financing for Palomar Partners, PLthrough the firm’s relationship with Wells Fargo Bank.
WESTMINSTER, COLO. – The 52-unit Candlelight apartment community in Westminster has sold to a local buyer for $2,595,000. The community is located at 6985 Stuart Street. The property was marketed exclusively by Greg Price and Clayton Primm of Marcus & Millichap’s Denver office on behalf of the seller, a limited liability company.
HUNTINGTON BEACH, CALIF. – A 7,098-square-foot office building in Huntington Beach has sold to an unnamed buyer for $2,485,000. It is located at 9131 Adams Ave. The buyer was represented by Allen Basso of Lee & Associates. The seller was represented by David Romero of Lee & Associates and Bryan Lysne of Lee ISG in this transaction.
NEWARK, CALIF. – Four new stores are opening at the Newpark Mall in Newark. Three Kings barbershop has leased 1,550 square feet; The Humidor cigar shop has leased 1,297; Focus women’s shoe store has leased 2,349 square feet; and Sprouts children’s shoe store has leased 1,880 square feet.
