TRUSSVILLE, ALA. — Senior Living Investment Brokerage (SLIB) has arranged the $4.5 million sale of Sunrise Ridge, a 45-unit assisted living community in the Birmingham suburb of Trussville. Atlas Senior Living, based in Birmingham, bought the property from a local partnership. The community was built in 2009 and features additional land for expansion. Bradley Clousing of SLIB arranged the transaction.
HOLLYWOOD, CALIF. — CBRE has arranged the sale a restaurant property located at 7001 Santa Monica Blvd. in Hollywood. A private real estate investor and developer acquired the asset from a private family trust for $8 million. The half-acre site features a 5,410-square-foot restaurant occupied by Shakey’s Pizza Parlor. Alex Kozakov, Patrick Wade and Fred Aframian of CBRE represented the seller and the buyers in the deal.
DEL MAR, CALIF. — GLL Real Estate Partners’ Del Mar Plaza has reached 90 percent occupancy following a joint repositioning effort with JLL. The 74,631-square-foot open-air center is located at 1555 Camino Del Mar in Del Mar. New tenants include Salon Republic, Union Bank, Del Mar Rendezvous, Momma’s Medi Spa, Del Mar Nails, PS Platinum, Kitchell Development and Fine Magazine. Each new tenant is slated to open by summer 2017. Craig Killman and Corinna Gattasso of JLL are handling leasing at the center.
PLANO, TEXAS — Kodiak Capital Advisors has acquired a newly constructed retail property located at the southeast corner of West Plano Parkway and West Park Boulevard in Plano. The company purchased the property by utilizing the Delaware Statutory Trust (DST) 1031 exchange structure. Hobby Lobby occupies the 54,370-square-foot property. The name of the seller and acquisition price were not released. This transaction is one of North Texas’ first DST acquisitions by a Dallas-based sponsor. A DST is an ownership structure that is created for business purposes, which can also be referred to as an unincorporated business trust. It is offered as a 1031 exchange replacement property for accredited investors seeking to defer capital gains taxes and as a straight cash investment for investors wishing to diversify real estate holdings.
RICHARDSON, TEXAS — NAI Robert Lynn has arranged two office leases totaling 13,911 square feet in Richardson. In the first deal, Apollo Managing General Agency LLC leased 9,501 square feet of office space at 2425 Central Expressway. Kent Smith of NAI Robert Lynn represented the tenant, while Laura Maczka of Sooner National represented the undisclosed landlord. In the second transaction, Kruvand Associates Inc. leased 4,490 square feet of office space at 1201 Richardson Drive. Smith represented the tenant, while Bill Rudd of Haggard Property Group represented the undisclosed landlord.
HOUSTON — CBRE has arranged an office relocation for Thompson & Knight LLP from 333 Clay St. to BG Group Place at 811 Main in Houston. The law firm will occupy two-and-a-half floors at the 900,000-square-foot office building. Kevin Kushner, Charles Gordon and Lucian Bukowski of CBRE represented the tenant in the lease transaction.
CARLSTADT, N.J. — Terreno Realty Corp. has acquired an industrial property, located at 248 Paterson Plank Road in Carlstadt, for $5 million. Situated on 5.2 acres, the 31,000-square-foot property features 64 dock-high and two grade-level loading positions, parking for 25 cars and trailer storage. At the time of sale, the property was fully leased to two tenants. The name of the seller was not released.
MILWAUKEE — Avison Young has arranged the sale of a 249,753-square-foot industrial facility located at 2300 S. 51st St. in Milwaukee. The sales price was not disclosed. Oilgear, a producer of hydraulic pumps, valves and related equipment, sold the facility to relocate production to existing facilities in Fremont, Neb. and Traverse City, Mich. Tom Curtis and Mike McKiernan of Avison Young represented Oilgear in the transaction. Global Power Components was the buyer.
FREDERICKSBURG, VA. — Lidl, a German grocery retailer that has been expanding recently in Virginia, has purchased 6.3 acres of land on Warrenton Road in Fredericksburg for $2.6 million. Lidl plans to develop a new grocery store at the site, which is situated near the Stafford Lakes Super Walmart. The site is the third parcel that the grocer has purchased in the greater Fredericksburg area and roughly the 20th in the state. The other two Fredericksburg stores are underway at 5455 Plank Road and 10110 Southpoint Parkway. Brian Cunningham of Coldwell Banker Commercial Elite represented the former land owner in the sale, and the firm’s Jonathan Gardner assisted Lidl in the site selection process and negotiating the transaction. Lidl is also underway on its $125 million, 1 million-square-foot distribution facility at 6120 Smith Station Road, which is expected to create 200 local jobs.
LAWRENCEVILLE, GA. — The Shopping Center Group has arranged the $7.9 million sale of Duluth Highway Shops, a 17,500-square-foot, unanchored retail center located on eight acres at State Route 120 and Lawrenceville-Suwanee Road in Lawrenceville. The Gwinnett County property was fully leased prior to construction to tenants such as Jason’s Deli, Pacific Dental Services, Willy’s Mexican Grill, AT&T Wireless, Penn Station East Coast Subs, Sport Clips Haircuts and BurgerFi. Neal Pringle and the late Mark Cooley of The Shopping Center Group secured the buyer, a private, West Coast-based investor. The seller was NLA Lawrenceville Inc. The Shopping Center Group also secured construction and equity financing for Duluth Highway Shops.