SPRING, VICTORIA and LUBBOCK, TEXAS — Cain Brothers has arranged the sale of three Lutheran Social Services of the South (LSSS) senior living facilities for undisclosed prices. A joint venture of Brookdale and HCP acquired two of the communities: The Village at Gleannloch Farms, a 206-unit continuing care retirement community in Spring, and Copperfield Village, an 86-unit independent living facility in Victoria. Prime Life Communities acquired the final community, Wedgewood South, a 49-unit assisted living facility in Lubbock. As a result of the transactions, LSSS was able to retire all of its outstanding debt and retain net proceeds to fund its mission.
DALLAS — Jim Turano of Henry S. Miller Brokerage’s office division represented Park Tree North in the sale of their 46,000-square-foot office building in Dallas. The building is located at 17311 Dallas Parkway, just south of Trinity Mills Road. MYCON General Contractors purchased the building with plans to remodel and use it for their new headquarters. Nora Hogan of Transwestern represented the buyer in the transaction.
AUSTIN, TEXAS — Lone Star Transmission has purchased Building 2 within the New Mesa Oaks Professional Development in southwest Austin. Building 2 consists of 18,500 square feet and is part of a 120,000-square-foot development project. The sale brings the project to 62 percent occupancy, with two new 18,000-square-foot buildings delivering in the coming months available for lease and sale. Jerry Frey with CBRE represented the buyer and Matt Levin and Patrick Ley with Equitable Commercial Realty (ECR) represented the seller.
JANESVILLE, WIS. — CBRE has brokered the sale of a 67,680-square-foot industrial lease in Janesville, approximately 40 miles southeast of Madison. An affiliate of Sara Investment Real Estate sold the manufacturing facility to Backyard Properties of Rock Country LLC for an undisclosed price. The property, located at 2135 Beloit Ave., is 100 percent leaded to Tigre ADS USA Inc., a multinational manufacturer of construction products. Chase Brieman of CBRE represented the seller in the transaction.
JACKSON, MICH. — Colliers International has arranged a 1,200-square-foot retail lease in Jackson, approximately 35 miles west of Ann Arbor. Jackson Properties Inc. is leasing the space to HoneyBaked Ham. The property is located at 1083 N. Winser St. and will be the first HoneyBaked Ham location in Jackson. Paul Lichtenberg and Morry Levin of Colliers International represented the landlord in the transaction.
FORT LAUDERDALE, FLA. — NGKF Capital Markets has brokered the $13.8 million sale of a Class B office building located at 1100 W. McNab Road in Fort Lauderdale. The location will remain the headquarters of ChildNet, the community-based care lead agency for Broward and Palm Beach counties, which is the sole occupant of the property. Clark-Ohio Associates Inc. purchased the two-story, 82,854-square-foot building from Case Holding Co. Inc. Adam Greenberg, Michael Lapointe and Michael Lohmann of NGKF represented the seller in the transaction.
WEST PALM BEACH, FLA. — Salazar Jackson LLP has arranged the $12.5 million sale of a vacant apartment complex situated on 11 acres at 719 Executive Center Drive in West Palm Beach. Jeff Greene, a Palm Beach County-based real estate developer, purchased the parcel and shuttered apartment community from WPB Clearlake SPE LLC, a limited liability company based in Nevada. WPB Clearlake purchased the property from a Chapter 7 bankruptcy earlier this year. Linda Worton Jackson of Salazar Jackson represented the seller in the transaction. Matthew Rotolante and Mark King of SVN South brokered the deal. The buyer has not publicly announced his plans for the parcel.
CARY, N.C. — CBRE | Raleigh has brokered the sale of One Harrison Park, a three-story, 56,933-square-foot office building located in Cary, a suburb of Raleigh. Houston-based Griffin Partners purchased the property from Rosemont Realty LLC for an undisclosed price. Ben Kilgore of CBRE | Raleigh represented the seller in the transaction. The office building’s tenant roster includes Biosignia Inc.; Keyes, Fox & Wiedman LLP; and Leukemia & Lymphoma Society. Ed Pulliam and John Brewer of CBRE | Raleigh will continue leasing services for the building.
SAN JOSE, CALIF. — Boston Properties has sold Innovation Place, a 574,000-square-foot office campus in San Jose, for $207 million. The campus is located at 3100-3130 Zanker Road. The buyer was Broadcom. The 26-acre property includes four buildings, three of which are vacant. The property also includes land that supports an additional 537,000 square feet of office/R&D development and two parking structures with a total of 3,000 parking spaces.
SCOTTSDALE, ARIZ. — Caliber, along with the Caliber Distressed Real Estate Income Fund and its investment partners via GC Square, have acquired a four-building, 164-unit apartment complex near Grand Canyon University (GCU) in Scottsdale for $6.5 million. The property will be renamed GC Square, Caliber Realty Group, a subsidiary of Caliber, will manage the property. Located within walking distance to the GCU campus, Caliber is now evaluating its redevelopment and repositioning opportunities. GCU is a private, for-profit Christian university purchased by Grand Canyon Education in 2004.