BROWNSVILLE, TEXAS — Hunington Properties Inc. has arranged the sale of a 4,826-square-foot Burger King restaurant located at 925 US-77 in Brownsville. The restaurant was rebuilt in 2014. The tenant is one of the largest franchisees in the Burger King system, operating 275 Burger King restaurants in Texas and Florida. The tenant occupies the property subject to a long-term triple net lease.
OSWEGO, ILL. — Senior Living Investment Brokerage Inc. (SLIB) has arranged the sale of The Tillers, a 106-bed skilled nursing facility in Oswego, approximately 50 miles southwest of Chicago, for $13.4 million. The community was built in 1972 and was 93 percent occupied at the time of sale. The Tillers was expanded in 1985 and 2008, and renovated in 2009. Symphony Post Acute Network purchased the property from a family-owned business looking to exit the long-term care industry. Symphony plans to further expand the facility. Ryan Saul of SLIB arranged the transaction.
MILWAUKEE, WIS. — The Dickman Company/CORFAC International has arranged the sale of a 54,500-square-foot industrial building in Milwaukee for an undisclosed price. 81 Street Industrial LLC purchased the building, located at 7940 N. 81st St., from The Equitable Bank SSB. Samuel M. Dickman Jr. and Samuel D. Dickman represented the buyer in the transaction. JC Capital represented the seller.
COLORADO SPRINGS, COLO. — Lockheed Martin has signed a lease expansion at Platte Airpark Center in Colorado Springs. The aeronautics and defense contractor formerly occupied 35,669 square feet, but will now occupy 48,102 square feet. The landlord is Fairbridge Properties.
LOS ANGELES — PB Financial Group Corp. has funded 20 loans throughout California for a total of more than $8.7 million. The Los Angeles-based firm financed a variety of projects, from industrial buildings to multifamily properties. The properties are situated throughout the state, including Los Angeles, San Francisco, Palm Springs and various San Diego submarkets. PB Financial specializes in privately funded transactions for commercial and residential real estate in California.
ARLINGTON, TEXAS — Rebecca Harrell of Henry S. Miller represented Town Oak Properties in the sale of a 3,150-square-foot medical office building located at 919 W. Randol Mill Road in Arlington. Alavi Legacy Foundation purchased the building for a pain management clinic scheduled to open in January 2016. The building is located across the street from Texas Health Arlington Memorial Hospital.
BROWNSVILLE, TEXAS — The Silver Group has arranged the sale of a single-tenant Burger King restaurant located at 925 U.S. Highway 77 in Brownsville. The freestanding 4,826-square-foot building is 1.5 years old and it replaced an older building that had become obsolete. At closing, the remaining triple-net lease term was 18.5 years. The investor acquired the asset to complete a 1031 tax-deferred exchange. Barry Silver of The Silver Group represented the out-of-state investor.
HOUSTON — Colliers International has arranged the sale of 4.5 acres located at 5555 W. Sam Houston Parkway to CKS Land Development LLC. The property is located on the west side of Sam Houston Parkway between Clay and Tanner roads, and it will be used for the construction of a 54,500-square-foot corporate building for CKS Land Development. Plans call for construction to begin in the first quarter of 2016. Archway 5555 WSHT Ltd. was the seller and was represented by Marshall Clinkscales, Greg Cizik and Edward Edson of Colliers International. Dylan Schopper of Northwinds Commercial Realty represented the buyer.
NASHVILLE, TENN. — Bluerock Growth Fund has sold Artisan on 18th, a Class A, 153-unit apartment community in downtown Nashville, for $35.2 million. The property was delivered in June and was completely occupied at the time of sale. A joint venture between Stonehenge DCM LLC, which oversaw development of the property, and affiliates of Bluerock Real Estate purchased the development. Artisan on 18th features a landscaped courtyard with a sundeck, outdoor grilling area and fireplace, fitness center, cyber clubroom with a coffee bar and business center, pet park and a parking garage. Unit interiors feature granite countertops, high-end flooring, designer cabinetry, full-size washer/dryer units, private balconies and nine-foot ceilings.
CORAL GABLES, FLA. — Deutsche Asset & Wealth Management’s Alternatives and Real Assets division has purchased a Class A office complex in Coral Gables, a city in Miami’s metro area. The property, known as The Alhambra, spans 326,415 square feet and comprises two towers. The buildings, known as Alhambra Plaza and Alhambra West, are 14 stories and seven stories, respectively. Deutsche purchased the complex for an undisclosed amount on behalf of a foreign institutional investor.