more_sales_and_leases

M&M Arranges Sale of Grocery-Anchored Shopping Center in Lubbock

by Haisten Willis August 20, 2015

LUBBOCK, TEXAS — Marcus & Millichap has arranged the sale of Rockridge Plaza, an 86,534-square-foot grocery-anchored shopping center in Lubbock. Michael Buckner and Richard Mireles of the firm’s Austin office represented the seller. Rockridge Plaza is located at 5217 82nd St. with visibility from the intersection of 82nd Street and Slide Road. Tenants include Caprock Cafe, Einstein Bros. Bagels, H&R Block, Jo-Ann Fabric and Craft Stores, Scottrade, Sprint and Tuxedo Junction. The grocery anchor was not a part of the sale.

August 20, 2015

TAYO Sells Land Parcel in West Texas

by Haisten Willis August 20, 2015

SWEETWATER, TEXAS — Taylor Consulting Inc. (TAYO) has signed a contract to sell a real estate parcel in West Texas. It’s the sixth sale in the region that the company has completed since May. Last year, TAYO’s real estate division, Third Avenue Development, added 47 residential and commercial lots to its portfolio in the town of Sweetwater, where development has been spurred by a new railroad logistics center and other projects. Third Avenue Development is working to build a portfolio of real estate assets for investment, rehabilitation and resale.

August 20, 2015

Hospitality Loans Midwest Wisconsin

PMZ Arranges $8.1M Non-Recourse Loan for Harbourwalk Hotel in Racine, Wis.

by Jonathan Mehall August 20, 2015

RACINE, WIS. — PMZ Realty Capital LLC has arranged an $8.1 million non-recourse loan for the Harbourwalk Hotel, located at 223 Gas Light Circle in Racine, approximately 24 miles south of Milwaukee. The loan carries a fixed interest rate of below 4.5 percent. JP Morgan provided the funds to the owner, an affiliate of Graves Hospitality, which will be used to repay existing debt and renovate the hotel. The $2 million renovations, to be completed by next summer, will include a total refurbishment of the guest rooms and common areas to meet the standards for a Doubletree by Hilton Hotel. The property has been without a franchise and is converting to a DoubleTree by Hilton flag within the next 12 months.

August 20, 2015

Massachusetts Northeast Retail

Savills Studley Brokers Sale of 126,480 SF Retail Property in Massachusetts

by Amy Works August 20, 2015

WATERTOWN, MASS. — Savills Studley National Retail Services Group has brokered the sale of a single-tenant retail property in Watertown. Boston-based Eastern Real Estate sold the 126,480-square-foot property to an affiliate of Inland Real Estate Acquisitions Inc. for an undisclosed price. Located at 615 Arsenal St., the property is occupied by The Home Depot, which has 17 years remaining on its triple-net lease. Kyle Miller and Bill Bauman represented the seller in the transaction.

August 20, 2015

California Retail Western

NAI Capital Arranges Sale of Sprouts Farmers Market in Claremont

by Nellie Day August 20, 2015

CLAREMONT, CALIF. — NAI Capital has arranged the sale of a 22,750-square-foot Sprouts Farmers Market located in Claremont. The property sold for over $12 million. Fariba Kavian of NAI Capital represented the seller, HCLARE LLC, in the sale of the property to Acquisition Group Inc. The single-story building is situated on 1.91 acres of land and was renovated in 2007.

August 20, 2015

California Retail Western

U.S. Property Trust Buys Lakewood Galleria

by Nellie Day August 20, 2015

LOS ANGELES, CALIF. — U.S. Property Trust has purchased the Lakewood Galleria, a 19,008-square-foot shopping center in Lakewood, for an undisclosed sum. The center is located at 5115 Candlewood Road across from the Lakewood Galleria Mall. Tenants at the center include Fantastic Sam’s, Corner Bakery Café, Cold Stone Creamery, Rubio’s Grill and Pick Up Stix, among others. HFF brokered the transaction.

August 20, 2015

California Retail Western

Stevenson Real Estate Services Brokers $4.1M Retail Center Sale in Los Angeles

by Nellie Day August 20, 2015

LOS ANGELES — Stevenson Real Estate Services has arranged the sale of a retail center located at 5581 Huntington Drive North in Los Angeles. 11305 West Moorpark LLC acquired the property for $4.1 million from Sandale LLC. Situated on a 28,807-square-foot land parcel, the property offers 9,689 square feet of retail space. Built in 2008, the property is 100 percent occupied by tenants including Antigua Bread Bakery & Café, Jackie’s Closet, Subway, Rite-Optics, Prodigy Hair Salon, Burrito Place, Boost Mobile and Tips 2 Toes. Randy Stevenson, Stephen Baker and Kris Hons of Stevenson Real Estate Services represented the seller, while Andrew Awaida of RE/MAX Optima represented the buyer in the transaction.

August 20, 2015

Industrial Maryland Southeast

First Potomac Realty Trust Sells Flex Portfolio in Maryland for $17.8M

by John Nelson August 20, 2015

COLUMBIA, MD. — First Potomac Realty Trust has sold Rumsey Center, a 135,047-square-foot flex portfolio in Columbia, for $17.8 million. The four-building portfolio is located within Oakland Ridge Industrial Park. Finmarc Management Inc. was the buyer. Mark Glagola, Julian Etches and Joe Friedman of Transwestern’s Mid-Atlantic investment sales group represented First Potomac Realty Trust in the transaction. New York-based Time Equities Inc. purchased the property, which will become part of its 20 million-square-foot portfolio in North America and Europe.

August 20, 2015

Connecticut Industrial Northeast

O,R&L Commercial Brokers $10.5M Sale of 97,000 SF Industrial Center in Connecticut

by Amy Works August 19, 2015

BRANFORD, CONN. — O,R&L Commercial has brokered the sale of Northeast Technology Center, located at 15 and 35 Northeast Industrial Road in Branford. Situated on 5.6 acres, the asset consists of three interconnected R&D/flex buildings, totaling 97,000 square feet, on two separate tax lots. SH NETC Branford LLC acquired the property for $10.5 million from G+L 15 & 35 NE Industrial LLC. Tim McMahon, Rich Lee and Frank Hird of O,R&L represented the seller and procured the buyer in the transaction.

August 19, 2015

Industrial Massachusetts Northeast Office

Savills Studley Arranges $2.2M Sale of Flex Building in Massachusetts

by Amy Works August 19, 2015

DEDHAM, MASS. — Savills Studley has brokered the sale of a 20,000-square-foot flex building located at 60 Stergis Way in Dedham. Needham, Mass.-based Fulcrum Real Estate Partners purchased the property for $2.2 million from Boston Irrigation Supply Co. The property is currently leased to John Deere Landscapes. Steve Woodworth of Savills Studley’s Boston office represented the seller in the transaction. The buyer was not represented.

August 19, 2015

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