PITTSBURGH — Marcus & Millichap has facilitated the $2.85 million sale of a 5,104-square-foot IHOP, located at 4656 Browns Hill Rd. in Pittsburgh. Jamie Medress and Mark Ruble of Marcus & Millichap's Phoenix office represented the seller, a partnership. John Brigel of Marcus & Millichap's Tampa, Fla., office represented the buyer, a limited liability company.
MILFORD, MASS. — Love Funding has provided $7.86 million financing for the 87-bed Whitcomb House, an assisted-living community located at 245 W. St. in Milford. Leonard Lucas of Love's Boston office arranged the 35-year, self-amortizing loan through HUD.
NEW YORK CITY — The 17-unit 939 Sterling Place, an apartment building located in New York City's Brooklyn neighborhood, has been sold for $1.83 million. Derek Bestreich and Shaun Riney of Marcus & Millichap's Brooklyn office represented the seller, a private investor, and procured the buyer, a limited liability company, in the transaction.
DALLAS — UCR Commercial Realty has arranged the sale of the 205,812-square-foot Caruth Plaza, a specialty retail center located at the corner of U.S. Highway 75 and Park Lane in Dallas. Caruth Plaza is 96 percent leased to tenants such as Bed Bath & Beyond, Sports Authority, TJ Maxx and AT&T. David Disney and Adam Howells of UCR's Dallas office represented the seller, Dunhill Partners, in the transaction. The buyer was an affiliate of North American Development Group.
AUSTIN — Southern Cross Construction has broken ground on 302-unit RiverView, an upscale apartment community that sits on a waterfront site by Lady Bird Lake in Austin. The 280,000-square-foot community will feature amenities such as a fitness center, business center, pool, resident lounge and a landscaped courtyard. BOKA Powell designed the development to LEED Silver certification standards. Dallas-based CDK Realty Advisors provided construction financing for the project, and The Whitworth Company is providing project management services.
HOUSTON — American Realty Capital Trust has acquired two Advance Auto Part Stores in Houston for $3.1 million. The two properties are fully leased to Advance Stores Co. and total 13,471 square feet.
PROSPER — Baylor Family Medicine at Prosper has opened in a 4,700-square-foot facility in the 16,000-square-foot Eagle Crossing II, a mixed-use development located at 861 N. Coleman in Prosper. Dallas-based Lee Design Group, under a contract with Health Texas Providers Network, designed the medical space. Eagle Crossings II was constructed by Crossland Construction Co.
SAN RAMON, CALIF. — The 63,265-square-foot Diablo Plaza in San Ramon has received two new tenants. Beverages &more! (BevMo!) has leased 12,015square feet of space at the center and plans to open in fall. BevMo! was represented by Matt Alexander of SRS Real Estate Partners. Additionally, West Coast Gold Buyers has leased 1,300 square feet of space at Diablo Plaza that is now open. The jewelry specialist was represented by Richard Odenheimer with MRE Commercial Real Estate. Regency Centers, Diablo’s owner, was represented in-house by Ranfie Ancelovici and Gwen White with Cornish & Carey.
PASADENA, CALIF. — The Towers, a 31-unit historical apartment building in Pasadena, has sold to a limited liability company for $3,255,000. A parking lot and a vacant triplex were also included in this transaction. Richard J. Ringer, first vice president investments in Marcus & Millichap’s West Los Angeles office, represented both the buyer and the seller in this transaction.
SEATTLE — The 23-unit Clar-Ann apartment community in Seattle has sold to Eastlake 23, LLC for $2,970,000. The complex was built in 1957 and resides just blocks from Lake Union. Marty Leith and Kenny Dudunakis of Hendricks & Partners’ Seattle office represented the seller, Clar-Ann Apartments, LLC.
