RANCHO CUCAMONGA, CALIF. — Crunch Franchise, a New York-based gym chain, has opened a new location in Rancho Cucamonga. The outlet is located in Foothill Marketplace. David Harman is the franchisee and general manager Spencer Rich operates the gym.
SEASIDE, CALIF. — Savills Studley’s National Retail Services Group has arranged the $16 million sale of a triple-net leased, 119,000-square-foot Home Depot located in Seaside. Kyle Miller and Bill Bauman of Savills Studley represented the seller, New York Life Real Estate Investors, in the transaction. Hovercraft LLC purchased the property at a cap rate between 3 and 4 percen. Home Depot’s lease runs through 2032.
MORENO VALLEY, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the sale of a two-tenant retail building in Moreno Valley occupied by Coast Dental office and TitleMax, which sold for $3.3 million. Ed Hanley and Bill Asher of Hanley represented the seller, MV-Perris LLC. It was sold to TC Enterprise Group LLC, represented by Charles Wong of CCRE Capital Commerce Inc.
JACKSON, TENN. AND HUNTSVILLE, ALA. — RCG Ventures Fund III has purchased West Towne Commons, a 168,210-square-foot shopping center in Jackson, and Madison Plaza, a 99,108-square-foot center in Huntstville, for an undisclosed price. Located at the intersection of Highway 45 and Oil Well Road, the West Towne Commons’ tenant roster includes T.J. Maxx, Stein Mart, OfficeMax and Petco. Target is also a tenant but was not involved in the transaction. RCG Ventures was represented internally by Jeff Miller, and Johnny Lamberson and Terry Radford of CBRE represented the seller. Located across from Madison Square Mall at Old Monrovia Road and University Drive, Madison Plaza is anchored by Haverty’s and Mission Thrift Store. RCG Ventures was represented internally by Scott Tarbet in the transaction, and Margaret Caldwell of JLL represented the seller.
SHREVEPORT, LA. — Lexington, Ky.-based BC Wood Properties has acquired North Market Place, an 88,205-square-foot shopping center located in Shreveport, for $7 million. Brookshire’s Grocery anchors the center. The grocer operates more than 150 stores in Arkansas, Louisiana and Texas. North Market Place is the first Louisiana shopping center in BC Wood’s portfolio, which includes 36 shopping centers comprising more than 5 million square feet.
SAN DIEGO — An affiliate of Maxxam Enterprises has purchased the William Penn Building, a mixed-use property in downtown San Diego’s Gaslamp District, for $10.2 million. The building is located on the corner of 5th Avenue and F Street. It was built in 1913. The property contains 18 residential units and 10,795 square feet of commercial space, with Maloney’s Tavern as the anchor tenant. The building is designated as historical on the San Diego Register and the National Register of Historic Places. CBRE’s Jim Neil, Eric Comer and Merrick Matricardi represented the seller, Penn LLC.
GLENDALE, ARIZ. — DCL Investments LLC has acquired Arrowhead Lakes Marketplace, a 22,280-square-foot retail center in Glendale, for $6 million. The center is located at 20329 North 59th Ave. It is 92 percent leased. Arrowhead Lakes Marketplace is part of a larger shopping center anchored by Albertsons. Steve Gonzalez, Marcus Muirhead and Greg Guglielmino of Colliers International represented DCL. The seller represented itself in this transaction.
INDIANAPOLIS — Brennan Investment Group LLC has acquired Hillsdale Business Park, a six-building business park comprising 445,892 square feet, in Indianapolis. Hillsdale Business Park is located at 7700 North Shadeland Ave. on the northeast side of Indianapolis at the intersection of I-465 and I-69, two main interstates that serve the Indianapolis metro area. The business park is within minutes of a number of restaurants, banks, and Castleton Square Regional Mall. Tenants of Hillsdale feature Community Hospital, Verizon Wireless, State Farm Insurance, Ingersoll Rand, Northeast Family Physicians and Pro Kids Inc. Originally developed by Duke Realty, Hillsdale Business Park is owned by Hillsdale Property Company and is leased and managed by Jones Lang LaSalle.
ATASCOCITA, TEXAS — Houston-based Baker Katz has acquired a 4.5-acre property located near the cross streets of Farm to Market Road 1960 and West Lake Houston Parkway in Atascocita. The firm plans to renovate two existing buildings at the site totaling 33,000 square feet to update the architecture and attract new tenants. The buildings were originally constructed in 1984. Construction is slated to begin early next year. Jim Bayne with Investar Real Estate Services represented the seller in the transaction.
HODGKINS, ILL. — Principle Construction Corp. has completed construction on a 5,149-square-foot craft brewery for Blue Nose Brewery at 6119 East Ave. in Hodgkins, approximately 18 miles southwest of downtown Chicago. A new 12,320- square-foot multi-tenant retail building houses the brewery. Visitors to the brewery will be able to see fermenting kettles, mash tuns and hot liquor tanks from a 3,000-square-foot viewing room. Principle Construction broke ground on the brewery in April of 2014. Bear Real Estate owns the building and Ben’s Rental & Sales occupies the remaining portion of the building. Costs of the project were not disclosed.