DALLAS — DuWest has arranged the sale of a single-tenant retail property located at 8330 N. Stemmons Freeway in Dallas. A California-based 1031 exchange buyer acquired the 30,054-square-foot property from a local partnership for an undisclosed price. Office Depot currently occupies the property. DuWest represented the seller in the deal.
SAN ANTONIO — The Turner Multifamily Impact Fund, a real estate investment fund managed by Turner Impact Capital, has acquired San Mateo and The Grove, both in San Antonio, for an undisclosed price. Situated on 10.9 acres in northeast San Antonio, San Mateo features 252 units in nine three-story buildings. On-site amenities include a pool, basketball court and student/business center. Located on 11 acres, The Grove features 276 units in 30 two- and three-story residential buildings. Community amenities include two swimming pools, a clubhouse with business lounge and fitness center, landscaped grounds and on-site laundry facilities.
AUSTIN, TEXAS — Equitable Commercial Realty (ECR) has arranged three office leases totaling 11,483 square feet in Austin. In the first lease, Revolution Insurance Technologies Inc. leased 6,277 square feet of office space at Crystal Mountain located at 9433 Bee Caves Road. Haley Smith and Patrick Ley of ECR represented the undisclosed landlord in the deal. In the second lease, fd2s leased 2,516 square feet of space at Chavez Village located at 1634 E. Cesar Chavez St. Ley and Lee Ellison of ECR represented the undisclosed landlord, while Chrissy Fuller and Ted Rohan of Avison Young represented the tenant. In the third lease, The Goodman Corp. leased 2,700 square feet of space at Lamar Gateway at 911 W. Anderson Lane. Matt Fain and Haley Berry of ECR represented the undisclosed landlord in the transaction.
CARLSTADT, N.J. — Water-Jel Technologies has renewed its 109,410-square-foot lease at 50 Broad St. in Carlstadt. The burn-care product manufacturer uses the space as its headquarters and production facility. John Donnelly of Colliers International represented Water-Jel in the long-term lease renewal. The property is owned by Prologis.
BRIDGEWATER, N.J. — Allstate Insurance Co. has leased an entire 63,000-square-foot office building at CenterPointe I, located at 1130 Route 22 East within CenterPointe at Bridgewater in Bridgewater. The four-building corporate park features 331,846 square feet of office space. Susan Mason, Robert Ryan and John Buckley of JLL, in collaboration with Michael Gribbon of American Real Estate Partners, represented the landlord, American Real Estate Partners, while Edward DaCosta and John Morris III of CBRE represented the tenant.
EAST POINT, GA. — The Atlanta office of Duke Realty Corp. has signed Armada Warehouse Solutions to a long-term lease for a new 447,606-square-foot, build-to-suit industrial facility at 3707 N. Commerce Drive in East Point, a southern suburb of Atlanta. Duke Realty had been designing its next speculative building on the site prior to inking the lease with Armada. The building will be located within Camp Creek Business Center, Duke Realty’s 400-acre, mixed-use business park situated 3.3 miles from Hartsfield-Jackson Atlanta International Airport. Armada’s new warehouse will be located near the north entrance of Camp Creek Business Center at the intersection of Camp Creek Parkway and North Commerce Drive just off I-285. The cross-dock building will feature 36-foot clear heights and include 82 dock doors, 100 automobile parking spaces and 87 trailer spaces. Additionally, the space will contain approximately 107,700 square feet of freezer/cooler space inside the building. Kris Bjorson, Chris Watts and Alan Clayton of JLL represented Armada in the lease deal, while Wes Hardy represented Duke Realty internally. Construction is expected to start this month with an expected delivery in July 2017.
LAKE MARY, FLA. — Cushman & Wakefield has brokered the $20 million sale of Northpoint III, a 108,499-square-foot, Class A office building located within Northpoint Center Office Park in Central Florida. Built in 2001, the four-story property is located at 2200 Exchange Place in Lake Mary. Charlotte, N.C.-based Duke Energy, Northpoint III’s sole tenant, purchased the asset from Gramercy Property Trust, a New York-based investment firm. Mike Davis, Michael Lerner and Rick Brugge of Cushman & Wakefield’s Capital Markets team represented Gramercy in the sale.
EUGENE, ORE. — Evergreen Housing Development Group has acquired the 300-unit Heron Meadows apartments in Eugene for $40 million. The garden-style community is located at 721 Throne Drive. The buyer plans to upgrade the unit interiors and hold the property long-term. Notable employers in the neighborhood include University of Oregon, Kaiser Permanente, Avago Technologies, PeaceHealth and Symantec Corp. The seller was Heron Meadows Apartments NW LLC. Phil Oester and Joe Nydahl of Berkadia executed the sale. The firm’s Jeff Stuart arranged financing for the buyer through an existing assumable Fannie Mae loan and additional supplemental loan.
LOS ANGELES — City National Bank has leased 300,000 square feet across 11 floors at 2Cal, a 52-story office building in downtown Los Angeles. The Class A building is located at 350 S. Grand Ave. in the Bunker Hill area. The building will be rebranded as CityNational@2Cal. The bank will also receive significant signage. The space will be renovated in 2017 to accommodate an open floorplan. The bank will occupy the floors in 2018. CIM Group owns the building.
REDMOND, WASH. — A joint venture between Security Properties and Cigna Investment Management has purchased the 227-unit Bear Creek apartment community in Redmond for an undisclosed sum. The community is located at 17771 N.E. 90th St. The site was originally developed in 1993. The new owner plans to renovate the units, update the clubhouse and paint the exterior. Security Properties-affiliate Madrona Ridge Residential will manage the property.