HOUSTON — Chartway Federal Credit Union has purchased the former Washington Mutual Bank building, a 3,685-square-foot property located at 4373 FM 1960 Road W in Houston. Marshall Clinkscales of Colliers International represented the buyer in the transaction. Peter Licata of Hunington Properties represented the seller, Forest Chase 4373 FM 1960 LLC.
PASADENA, CALIF. – A 10,583-square-foot retail building that resides along Pasadena’s South Lake Avenue Retail District has sold to a private investor from Beverly Hills, Calif., for an undisclosed sum. The building is located at 320 South Lake Ave. and was vacant at the time of sale. Other retailers in the neighborhood include Macy’s, Anthropologie, Williams-Sonoma, Pottery Barn Kids, Talbots, Ann Taylor, Pacific Sales, Corner Bakery and Trader Joe's. The buyer was represented by Patrick Luther and Nicholas Coo of Faris Lee Investments. The seller, a private investor from Encino, Calif., was represented by Carlos J. Lopez of Hanley Investment Urban Retail Advisors.
TACOMA, WASH. –Two ground-leased properties in Tacoma, including a Jack in the Box and Harborstone, have sold to an unnamed buyer for $2.7 million. They are located at 4720 Center Street and boast a total of 7,681 square feet. Peter Nisbet of Marcus & Millichap’s Seattle office represented the seller, a limited liability company, in this transaction.
LAKELAND AND AUBURNDALE, FLA. — Salt Lake City-based Extra Space Storage, a public REIT, has acquired a three-property, 1,958-unit self-storage portfolio. The properties are located at 1012 U.S. Hwy. 92 W. in Auburndale, and 2190 Harden Blvd. and 6445 S. Florida Ave. in Lakeland. Michael Mele of Marcus & Millichap represented the seller, a Lakeland-based privately held firm, in the transaction.
CHICAGO — The Boulder Group has arranged the $3.8 million sale of a triple net-leased Bank of America at 3010 S. Kedzie Ave. in Chicago. The 6,500-square-foot building was developed in 2003. The property is fully leased to Bank of America, which has 11 years remaining on its lease. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest developer, in the transaction. The buyer was a high net-worth individual in California.
WAUKESHA, WIS. — Hallmark Gold will occupy the final space at the Shoppes at Fox River development in Waukesha. The addition of the greeting card retailer makes the first phase of the 273,000-square-foot development fully occupied. The shopping center is also home to Target, The Cash Store and Associated Bank. Opus Development Corp. also recently broke ground on the second phase of the project, which is expected to contain 150,000 square feet. The first building in Phase II will include T.J. Maxx, Ulta Salon and Rue 21. The Shoppes at Fox River is a redevelopment of a former Supervalu distribution facility located along Sunset Drive. Opus sold Phase I to Ramco-Gershenson in 2010, but has remained responsible for securing tenancy.
LEWISVILLE — Cosmic Jump Trampoline Entertainment Center will open a 22,900-square-foot location at 1915 S. Stemmons Freeway in Lewisville for its second location in Texas. The facility is a vacant Bassett Furniture store near Valley Ridge Mall. Cosmic Jump will open its doors in mid June. The location will feature private birthday rooms, trampoline dodge ball courts, trampoline basketball courts, parallel-ramped trampolines, X-Box Kinect activity fun zones, fitness boot camps and a full-service snack bar. Eric Vickers of Kim Martin Co. represented the landlord, Lewisville Bassett, in the lease transaction.
BASALT, COLO. — Cohen Financial has provided a $15-million construction loan to develop retail space at Willits Town Center, a multi-use community development in Basalt. The loan will cover the construction of a 26,200-square-foot Whole Foods Store and another 19,000 square feet of new retail space in the same building. It will also include 28,000 square feet of existing retail space that is partially leased. The loan is secured by the balance of the land in development. The loan was secured by Don C. Trossman of Cohen Financial’s Chicago office through a Midwestern-based bank. It features a 24-month term with an extension option rate.
OCONEE, GA. — Oconee 316 Associates has broken ground on the 410,000-square-foot Epps Bridge Center, a retail and entertainment project located at the intersection of Paul Broun Parkway and the Oconee Connector in Oconee. Benning Construction Co. is the general contractor for the project. A 16-screen Georgia Theater Co. stadium-style movie theater will anchor the development. The first phase, which is slated for completion in the summer of 2013, will include 400,000 square feet of retail space. Additional phases will include the development of the outparcels.
HOLLY HILL, FLA. — Marcus & Millichap has arranged the $2.92 million sale of a 13,662-square-foot Walgreens, located at 1600 N. Nova Rd. in Holly Hill. Walgreens has 6 years remaining on its original lease term. Kevin Yaryan of Marcus & Millichap's Orlando, Fla., office represented the seller, a private investor, in the transaction.