MAUI, HAWAII — Lowe’s has acquired an 11-acre site at Maui Business Park II in Kahului for $18.7 million. The property is situated in Maui’s retail and industrial core near Kahului Airport. Lowe’s plans to build a 167,000-square-foot store on the site. The new property will be 16 percent larger than its current store in Kahului, which is leased from a third party. Maui Business Park is anchored by Maui’s first Target store. Recent buyers within the park include the County of Maui, Servco Pacific, American Savings Bank, Pacific Pipe and Shelton Holdings (BMW). Maui Business Park I is home to Walmart, Home Depot, Costco, Sports Authority, Office Max, Kmart and Pier1 Imports. The seller was A&B Properties, the real estate subsidiary of Alexander & Baldwin.
PORTLAND, ORE. — National Health Investors has acquired Golden Age Senior Living in Portland for $6.7 million. Renovated in 2010 and expanded in 2013, the 40-bed memory care community was 88 percent occupied at the time of sale. The community will be leased to Chancellor Health Care for 15 years with renewal options at an initial lease rate of 7.75 percent plus annual escalators. The purchase was funded with cash on hand and borrowings from NHI’s revolving credit facility. NHI is a REIT specializing in sale-leaseback, joint-venture, mortgage and mezzanine financing of seniors housing and medical investments.
SAN ANTONIO — Stream Realty Partners has secured a 14,700-square-foot industrial lease at Interwest Business Park in northwest San Antonio. The 218,219-square-foot industrial facility is located at 6800 Alamo Downs Parkway at Loop 410 and Culebra Road. Jason Schnittger and Kevin Cosgrove of Stream Realty Partners represented the landlord, G&I VII Interwest Business LP, in the transaction. Joe Caroll of Cavender & Hill Properties Inc. represented the tenant, O’Hagin LLC, in the transaction.
FORT WAYNE, IND. — Bradley Co. has arranged two leases and one condominium sale across various property types in Fort Wayne. Kienan O’Rourke of Bradley Co. represented the tenant, Vintage Treasures LLC, in the lease of 21,600 square feet of retail space located at 265 Coliseum Blvd. In a separate transaction, O’Rourke represented the seller, B&R Real Estate, in the sale of a 2,077-square-foot office condo located at 515-519 Airport North Office Park in Fort Wayne to an undisclosed buyer. In a third transaction, O’Rourke represented the landlord, Kurt Mundinger, in the lease of 7,108 square feet of industrial space located at 224 E. Wallace St. to Three Rivers Distilling Co. Kelly Castle, also of Bradley Co., represented the tenant in the transaction. Terms and additional details of the transactions were not released.
CHESTERFIELD AND ST. LOUIS, MO. — Gershman Commercial Real Estate has arranged two leases, totaling 7,364 square feet in Missouri. In the first deal, The Vandiver Group Inc. leased 3,864 square feet of office space within the Herman Stemme II Office Building located at 16052 Swingley Ridge Road in Chesterfield. The landlord is Chesterfield Stemme II Inc. Marcia Finch of Gershman Commercial represented the tenant in the lease. In the second deal, PPM Enterprises LLC, doing business as STL One Price Cleaners, inked a lease for 3,500 square feet of retail space within The Adler Lofts at 2035 Washington Ave. in St. Louis. Stephen Symsack and Roger Zigler of Gershman Commercial represented the landlord, Adler Lofts Master Landlord LLC, while Hilliker Corp. and Xsite Real Estate Inc. represented the tenant in the transaction. Additional terms of the transactions were not released.
SHREWSBURY, MASS. — CS Holdings LLC has acquired an office/retail building located at 307 Grafton St. in Shrewsbury. Kalamat LLC sold the property for $2.4 million. Constructed in 2005, the two-story property is fully occupied by Café Noir, Salon Sogno, Piel Skin Boutique and Modern Dentistry of Shrewsbury. David Cohen and William Kelleher IV of Kelleher & Sadowsky Associates represented the seller in the transaction.
COCKEYSVILLE, MD. — Marcus & Millichap has brokered the $19 million sale of Church Lane Shopping Center and GJK Plaza, two shopping centers in Baltimore County’s Cockeysville suburb totaling 97,308 square feet. Built in 1981, the shopping centers are located at the corner of Church Lane and Cranbrook and York roads. The tenants include Party City, JoAnn Fabrics, Tuesday Morning, Sleepy’s and Meineke. Chris Burnham and Nathan Pealer of Marcus & Millichap represented the seller, a family partnership that had owned the centers for more than 35 years. Burnham and Pealer also procured the buyer, a private local investor.
LOS ANGELES — Papazian-Hirsch Calabasas LP has acquired a 15,798-square-foot office building in the Los Angeles submarket of Porter Ranch for $4.9 million. The building is located at 11260 Wilbur Ave. It was constructed in 1985. Justin Mendelson and Fred Sheriff of Charles Dunn Company represented both the buyer and seller, Wilnaldi Venture L.P. and Wilnaldi Bellisimo LLC, in this transaction.
GILBERT, ARIZ. — IPF Rancho Solano has purchased Rancho Solano Gilbert Campus, a 33,265-square-foot building in Gilbert, for $4.5 million. The building operated as a preschool through fifth grade until it closed at the end of the 2014 school year. The new tenant, Lauren’s Institute For Education (L.I.F.E.), is a nonprofit organization that provides programs for developmentally disabled children through a variety of therapies. Jim Wilson and Scott Shelbourne of Cushman & Wakefield represented the seller, Arizona Prep Real Estate.
LOS ANGELES — The Honest Company has relocated its headquarters to a Class A office complex in Playa Vista. The new space is located at 12130 Millennium Drive. The company will occupy 83,000 square feet of space at the property. It will relocate from nearby Santa Monica early next year. David Toomey and Matthew Miller of Cresa and Marc Bretter of Travers Cresa represented The Honest Company. The landlord is Clarion Partners.