FORT COLLINS, COLO. — Granite Capital Group has acquired the 105-unit Brooklyn Park Rowhouses in Fort Collins for $27.8 million. The community is located at 2758 Iowa Drive. Brooklyn Park was built between 2007 and 2008. It is fully leased and is located near Harmony Technology Park. Nick and Jacob Steele of Marcus & Millichap represented the seller in this transaction.
HENDERSON, NEV. — At Home Group Inc. has opened its first Nevada location in Henderson. The home décor superstore is the company’s westernmost location as it enters its 33rd state. Nevada’s first At Home is more than 140,000 square feet and offers over 50,000 home décor items from furniture, mirrors, rugs, art and housewares to tabletop, patio and seasonal items, including more than 100 different Christmas tree varieties. The Henderson At Home is one of more than 25 new store openings this year for the home décor chain. The company is headquartered in Plano, Texas, and currently operates 136 stores in 33 states.
OAKLAND, CALIF. — Trammell Crow Residential and KTGY Architecture + Planning have broken ground on Alexan Webster, a mixed-use development being built on a parking lot at 2330 Webster St. in the Lake Merritt neighborhood of Oakland. Designed by KTGY, the 1.4-acre redevelopment project will feature a 234-unit apartment community, 15,000 square feet of street-front retail space and a public and residential parking garage. The $135 million sustainable development will also feature 5,000 square feet of indoor amenity and leasing office space, as well as a lap pool, business center, 24-hour fitness center, outdoor kitchen, bicycle repair center and storage and a rooftop deck. The residential component will feature a mix of studio, one- and two-bedroom apartments ranging in size from 610 square feet to 1,160 square feet. Completion is slated for summer 2019.
HUNTINGTON BEACH, CALIF. — Marcus & Millichap has brokered the sale of Seagate Plaza, a shopping center located at 16107 Bolsa Chica St. in Huntington Beach. Cathy Investments acquired the property from Asbury Properties for $10.8 million. Carl’s Jr., Seagate Veterinary Hospital, Classic Cleaners, Seagate Liquor & Grocery, Subway and Coastline Dental occupy the 30,234-square-foot retail plaza, which was built in 1975. Joseph Lising of Marcus & Millichap represented the buyer in the 1031-exchange transaction.
ORANGE, CALIF. — Coldwell Banker Commercial Advisors (CBC Advisors) has arranged the sale of Shops at Stater Bros, a multi-tenant retail strip center located on Tustin Avenue in Orange. A local buyer acquired the retail center for $3.8 million. The property features 14,575 square feet of retail space. Scott Hook of CBC Advisors represented the undisclosed seller in the transaction.
TEMECULA, CALIF. — Colliers International has arranged the acquisition of a multi-tenant retail and industrial property located at 41735 Winchester Road in Temecula. Anderson Family Trust acquired the property from Winchester Group JV for $3.2 million. Redline Athletics, The Springs Community Church and All Star Promotions, among others, occupy the 27,924-square-foot building, which was fully occupied at the time of sale. Joe Brady of Colliers represented the buyer, while John Pfaffl of Jonan Property Services represented the seller in the deal.
SANTA MONICA, CALIF. — Cypress Equity Investments has purchased a commercial property located at 3223 Wilshire Blvd. in Santa Monica. Satnam Investments sold the property for an undisclosed price. The property is comprised of two parcels, including a two-story, 11,730-square-foot building. The parcels are zoned mixed-use, allowing for a range of redevelopment opportunities. Mitchell Stokes of Madison Partners represented the seller and buyer in the deal.
LOS ANGELES — Rexford Industrial Realty has purchased a six-building industrial park in the Los Angeles submarket of South Bay for $210.5 million. The Class A park is known as Rancho Pacifica Industrial Park. The acquisition contains a total of about 1.2 million square feet on 56 acres. The park is leased to 23 tenants. It sits adjacent to the Alameda Intermodal Corridor, six miles from the Ports of Long Beach and Los Angeles.
ENGLEWOOD, COLO. — Institutional investors have acquired the 300-unit Kent Place Residences in Englewood for $127.4 million. The community is located at 3465 S. Gaylord Court in the Cherry Hills Village area. Kent Place Residences was built in 2015. Outdoor amenities include a rooftop lounge with views of the Rocky Mountains and downtown Denver, as well as outdoor televisions and barbeque grills, outdoor kitchens, a walking trail, pool with two spas, community garden, pet play area, bocce ball court and complimentary bike rentals. HFF’s Jordan Robbins, Jeff Haag and Anna Stevens represented the seller, Forum Real Estate Group, in this transaction. J.P. Morgan Asset Management advised the undisclosed buyers.
CHANDLER, ARIZ. — Summit Healthcare REIT Inc. has acquired Pennington Gardens, a 90-bed assisted living and memory care facility in the Phoenix suburb of Chandler for $13.4 million. Summit will lease the property to Compass Senior Living, which already operates six communities in Summit’s portfolio. The acquisition was made through Summit Chandler LLC, which is a wholly owned subsidiary of Summit. Summit is a non-traded REIT with 32 long-term, triple-net-leased healthcare facilities in 12 states.