DALLAS — Chicago-based Waterton Residential has acquired a 592-unit multifamily portfolio that includes Vue Fitzhugh, Vue Greenville and Vue Live Oak, all located in Dallas, from GE Capital. The portfolio was developed by Inland American Communities and totals 503,775 square feet. Waterton will continue renovations for all three properties, including the addition of wood floors and granite countertops. Apartment Realty Advisors' Dallas office represented the seller in the transaction.
BURLESON — LIG Assets' non-wholly owned subsidiary, World SeniorCare Services, has entered into a contract to purchase a 13-acre parcel for the development of a $20 million, 10-building senior housing property in Burleson. The project is slated to be constructed over a 2-year span.
HOUSTON — NorthMarq Capital has arranged first mortgage financing for the 117,893-square-foot The Shops of Hilshire Village, a shopping center located in Houston. The center's major tenants include Kroger, Walgreens and Blockbuster. Warren Hitchcock and Kristi Johnson of NorthMarq's Houston office arranged the 10-year loan with a 30-year amortization schedule through Guardian Life.
WASHINGTON, D.C. — Washington, D.C.-based Penzance has purchased the 200,000-square-foot Watergate, an office building located at 2600 Virginia Ave. NW in Washington, D.C.The 12-story building is located in the Watergate office and residential complex. Eastdil Secured's Washington, D.C., office represented the undisclosed seller in the transaction.
LEXINGTON, N.C. — Save-A-Lot has opened a new 330,000-square-foot distribution center, located in Lexington Business Center at 133 Lexington Pkwy. in Lexington. Construction on the facility began in January. The new distribution center will help support the company's growth plans in North Carolina as well as surrounding states.
SAVANNAH, GA. — Mount Pleasant, S.C.-based Ziff Properties has purchased the 38,000-square-foot Berwick Marketplace, located at 5710 Ogeechee Rd. in Savannah. The sale price was undisclosed. Kroger shadow-anchors the center, which includes Fuddruckers, Pizza Hut, Subway and a UPS Store. The buyer was self-represented in the transaction by Christian Chamblee and Shaun Payne, as well as Maxwell Penn of Colliers International's Savannah office.
RICHMOND, VA. — Cleveland-based Cooper Group has arranged the $2.93 million sale of a 10,800-square-foot CVS/pharmacy, located at 5001 Forest Hill Ave. in Richmond. CVS is on a 20-year triple net lease with approximately 7.5 years of the original term remaining. Dan Cooper represented the seller, an East Coast-based private company, in the transaction and procured the buyer, a Texas-based private group.
COVINGTON, GA. — Marcus & Millichap has negotiated the $1.28 million sale of a 10,500-square-foot retail property, located at 340 Old Oxford Rd. in Covington. The property is net-leased to Sunbelt Rentals. Kevin Yaryan of Marcus & Millichap's Orlando, Fla., office, along with Al Savage and John Leonard of the firm's Atlanta office represented the seller, a private investor, in the transaction.
NEW YORK — New York-based American Realty Capital Trust III has completed the acquisition of five freestanding, single-story Dollar General stores in Missouri for $4.5 million. The Missouri stores, located in Licking, King City, Stanberry, Conway and Auxvasse, total 45,000 square feet. The company also acquired two Walgreens drug stores for $13.1 million in Stevensville, Mich. and Maplewood, N.J. The acquisitions total approximately 72,000 square feet. The properties are fully leased.
CADILLAC, MICH. — HCI Limited Partnership has purchased two industrial properties leased to FedEx for an undisclosed amount. The portfolio includes a 41,093-square-foot property at 1225 Marty Paul St. in Cadillac and a 75,656-square-foot building at 7783 Chattsworth Rd. in Columbus, Ga. Brandon Brown of T.L. Properties represented HCI in the transaction. CRS Advisors represented the seller, Puget of Texas.
