WILDOMAR, CALIF. — R&V Management Corp. has purchased the 312-unit Oak Springs Ranch in Wildomar for $78.5 million. The community is located at 24055 Clinton Keith Road, just north of Temecula. Oak Springs Ranch was built in 2014. Ed Rosen, John Chu, Kyle Pinkalla and Erin Dammen of Berkadia executed the sale. The seller was Oak Springs Ranch LLC, which is composed of developer GLJ Partners and affiliates of Sarofim Realty Advisors.
FORT WORTH, TEXAS — Hangover Opportunity Fund LLC has sold a 138,000-square-foot, two-building project in Fort Worth’s Carter Industrial Park. The 11.5-acre property at 1200 Forum Way S. is net-leased to May Group International, a custom sign manufacturer. Shortly before the property hit the market, the advertising company signed a seven-year renewal for the 60,000-square-foot and 78,000-square-foot office/warehouses, which are used as its headquarters and production facility, respectively. Texas-based SkyWalker Property Partners is liquidating Hangover’s 21-property portfolio. The 1200 Forum Way campus, bought by Hangover in mid-November 2013, is the ninth asset in Hangover’s portfolio to sell. Two more properties are under contract. Theron Bryant and Joe Hamilton of Coldwell Banker Commercial Advisors represented the seller. Chance Olin of Holt Lunsford Commercial negotiated for the local buyer, Forum Way Investments LLC. Bryant also negotiated the lease renewal with May Group.
GREENVILLE, S.C. — CBRE has brokered the sale of two multi-tenant office buildings located at 201 and 651 Brookfield Parkway in Greenville. Atlanta-based Fairlead Capital Partners purchased the two properties from Garrison Investment Group for a combined $25 million. Fairlead funded the purchase with its proprietary capital and equity from Bridge Investment Group Partners, manager of the ROC funds. Totaling 238,175 square feet, the assets are leased to tenants such as MetLife, GE Gas Turbines and Ahold USA. Patrick Gildea and Tripp Sellers of CBRE represented Garrison Investment Group in the transaction.
PERRYBURG, OHIO — CPA:17 – Global, a non-traded real estate investment trust, has acquired a distribution and light manufacturing facility in Perrysburg. InSite Real Estate sold the property for $14 million. The facility is net leased to First Solar Inc. under a 10-year term. The 391,700-square-foot facility serves primarily as warehousing for solar panels with about 80,000 square feet dedicated to light assembly. W. P. Carey Inc. brokered the transaction.
CHICAGO — Jameson Commercial has arranged the sale of a mixed-use property located at 837 N. Orleans in Chicago’s River North district. An undisclosed investment group acquired the property for $1.7 million. The building features three condo-quality apartments and ground-floor retail space. Justin Collins of Jameson Commercial represented the undisclosed seller in the deal.
PORTLAND, MAINE — Montecito Medical Real Estate has acquired Maine Eye Center’s Lowell Street campus in Portland for an undisclosed price. The 34,000-square-foot Class A medical office building is minutes from downtown Portland, Portland Harbor and the region’s two major hospitals, including Maine Medical Center. The Maine Eye Center has a practice lineage of more than 100 years and offers comprehensive eye specialty services. Including this transaction, Montecito has acquired 20 medical office buildings during the past 12 months and expects to close on the acquisition of eight additional medical real estate assets before the end of this year.
CAMBRIDGE, MASS. — CBRE/New England has arranged the sale of an office and retail building located at 1050 Massachusetts Ave. in Cambridge. Putnam Circle Associates sold the 62,474-square-foot property to L&B Realty Advisors for an undisclosed sum. The property is currently leased to several long-term office tenants, including Cambridge 7 Associates, the National Bureau of Economic Research and Northstar Project & Real Estate Services. Pyara Spa & Salon is currently the sole retail occupier in the first-floor retail space. Dave Pergola, Brian Doherty and Chuck Kavoogian of CBRE/NE represented the seller and procured the buyer in the transaction.
CHERRY HILL, N.J. — Markeim Chalmers Inc. has arranged the sale of an office building located at 499 Cooper Landing Road in Cherry Hill. The Guidance Center of Camden County Inc. sold the property to 409 ROPA Realty LLC for $1.6 million. The buyer plans to convert the 12,000-square-foot property into a state-of-the-art medical office building. Kevin Burns of Markeim Chalmers represented the seller in the deal.
HOUSTON — Colvill Office Properties has arranged two office lease transactions at Citycentre Five, a 15-story, 227,000-square-foot office building in Houston. The transactions include a 13,226-square-foot lease to Five Point Capital Partners and a 4,357-square-foot lease to Credera. The two deals bring the Class A asset to 77 percent occupancy. Michael Anderson and Connor Saxe of Colvill Office Properties represented the landlord, Midway, in the lease transactions. Michelle Wogan of Transwestern represented Five Point Capital Partners, and Nick Terry of Caldwell Cos. represented Credera.
GEORGETOWN, TEXAS — Brennan Investment Group LLC, a private real estate investment firm, has acquired a three-building industrial campus located at 3000 S. Austin Ave. in Georgetown. The 192,060-square-foot development is 100 percent leased to Manitex Inc., a provider of lifting and loading products. The property has access to I-35.