HOUSTON — Colliers International has arranged the sale of a 20,750-square-foot medical office building, located at 1325 La Concha Ln. in Houston. Christopher Winters of Colliers' Houston office represented the seller, Treeline Partners, in the transaction. Jim Houmani of Houston-based Xander Properties represented the buyer, Sugar Land-based Saroj Kirby, LLC.
ODESSA — Love Funding has secured an $8.91 million construction-to-permanent loan for the 97-bed Orchard Park of Odessa, a 69,500-square-foot assisted living community in Odessa. Joshua Hausfeld of Love Funding's Washington, D.C., office secured the 40-year loan through HUD's 232 LEAN Program on behalf of the owners, McFarlin Group and Stroud Development, both of Dallas. The facility is slated to open in late 2012.
FRISCO — Dallas-based Gearbox Software has pre-leased 61,000 square feet of office space at the $60 million Frisco Square development, which is designed by O'Brien Associates. Gearbox's new headquarters will add approximately 205 jobs. The eight-story development will feature 100,000 square feet of office space, 50,000 square feet of retail space and 220 residential apartment units. James Esquivel and Jeff Eckert of Jones Lang LaSalle's Dallas office represented the landlord, Frisco Square Development, in the leasing transaction. Baron Aldrine of CBRE's Dallas office represented the tenant.
PHOENIX — Jones Lang LaSalle’s Capital Markets group has hired John Cunningham to establish and grow the firm’s multifamily investment sales practice in Phoenix and the surrounding region. Cunningham will serve as executive vice president. The firm noted this is the latest move in a company-wide strategy to grow its multifamily expertise in core markets as they track their recoveries.
SAN FRANCISCO — Cassidy Turley’s Net Leased Investment Services group has sold an eight-property portfolio in Northern California to a family estate. All eight properties, which total 82,200 square feet, are fully leased on a triple-net basis to Bank of America. The sales price was undisclosed. Three of the properties are located in San Francisco, while the remaining five reside in Berkeley, El Cerrito, Alameda, Milpitas and Roseville. Cassidy Turley’s Andy Bogardus, Doug Longyear and Chris Sheldon represented the seller, a San Francisco-based owner, in this transaction.
LOS ANGELES — Cushman & Wakefield has named Glenn R. Rudy as director of the firm’s Southwest Retail Capital Markets Group. Rudy will be based out of Downtown Los Angeles. He will be responsible for retail investment activities in the Greater Los Angeles area.
CHARLOTTE, N.C. — Chicago-based Westdale Investment Partners has purchased the 210-unit Galleria Village Apartments, located at 1616 Galleria Club Ln. in Charlotte, from Charlotte-based Charter Properties for $18.5 million. Amenities include a pool, fitness center, business center with Wi-Fi, garages, storage, a laundry center, DVD library, car-care center and picnic areas with gas grills. Dean Smith of ARA's Charlotte office represented the seller in the transaction.
POWHATAN, VA. — Wal-Mart has purchased 53.35 acres of land, located along Anderson Highway in Powhatan, for $3.3 million to build a new store. Lee Warfield, III, of Cushman & Wakefield/Thalhimer's Richmond, Va., office represented the buyer in the transaction. Clarence Hubbard of Powhatan-based Realco Properties represented the sellers, E.M. Ciejek and Outerbanks, LP.
WEST PALM BEACH, FLA. — A retail property including a freestanding McDonald's and a vacant 3,750-square-foot building, located at 9835-9847 Okeechobee Blvd. in West Palm Beach, has been sold for $2.6 million. William Strauss of CBRE's Boca Raton office represented Okeechobee 9847, the buyer, in the transaction. The seller, IBERIABANK, who had previously foreclosed on the property, was self-represented.
KNOXVILLE, TENN. — VERICOM Global Solutions has signed a 108,000-square-foot lease for the Woods Building, located in West Bridge Business Park at 2525 Quality Ln. in Knoxville. Bob Thornton of Knoxville-based Baker Realty Co. represented Woods Group, TN, the landlord, in the transaction. Drew Clemmons of Knoxville-based Connell Properties represented the tenant.