Alhambra, Calif. — Shea Properties has signed four new tenants to open at the 140,000-square-foot Alhambra Place located in downtown Alhambra. Tenants include Blaze Fast Fire’d Pizza, The Habit Burger Grill, Bank of the West and Maido, a stationery store. The center broke ground in fall 2014, and will open in summer 2015.
PINEHURST, TEXAS — Marcus & Millichap has arranged the sale of Ray Childress Storage located in Pinehurst. The asset has 21,600 net rentable square feet and 16,400 feet of covered and uncovered parking. Dave Knobler of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, a private investor. Knobler also secured the buyer, a limited liability company. Ray Childress Storage is located at 35615 FM 149 in Pinehurst.
DALLAS — HFF has arranged the sale of a three-property hotel portfolio totaling 313 rooms in San Antonio. HFF marketed the property on behalf of the seller, Barshop & Oles Co. Silverwest Hotels LLC purchased the assets for an undisclosed amount. The hotels in the portfolio are the 118-room Fairfield Inn & Suites San Antonio NE/Schertz, located at 5008 Corridor Loop in Schertz; the 98-room Hampton Inn & Suites San Antonio/Schertz, located at 17702 IH-35 North in Schertz; and the 97-room Hampton Inn San Antonio – Northwoods, located at 2127 Gold Canyon Drive in San Antonio. All of the hotels, which opened between 2000 and 2009, feature a business center, fitness room, outdoor pool, complimentary breakfast and meeting space. All of the assets are located along major traffic arteries in the San Antonio/Austin corridor. John Bourret and Brooks led the HFF investment sales team representing the seller.
KENOSHA, WIS. — Faris Lee Investments has brokered the sale of Windsor Pointe, a multi-tenant retail center in Kenosha. San Diego-based Windsor Pointe Investors sold the 13,965-square-foot property for $4.6 million to Connecticut-based REI Advisors. Situated on 2.2 acres at 7201 120th Ave., the property is occupied by Best Buy, Woodman’s Markets and Gander Mountain, as well as other regional and national tenants. Jeff Conover of Faris Lee Investments represented the seller in the transaction. The buyer was self-represented.
RICHMOND, VA. — Wheeler Real Estate Investment Trust Inc. (Wheeler REIT) has purchased Brook Run Shopping Center, a 147,738-square-foot shopping center located in Richmond. Wheeler REIT acquired the asset for roughly $18.5 million from an undisclosed affiliate. Built in 1990, the property was 91.2 percent leased at the time of sale to tenants such as Martin’s Food Market, CVS/pharmacy, Crunch Fitness, Hair Cuttery and H&R Block. Wheeler REIT funded the purchase using proceeds from a recent financing, debt and issuance of operating partnership units.
ST. PAUL, MINN. — Marcus & Millichap has arranged the sale of an apartment building, located at 2003 Grand Ave., in St. Paul. A private investor acquired the property for $1 million. Built in 1953, the property features one studio unit and 10 one-bedroom apartments. Each apartment features original hardwood floors, art deco-tiled bathrooms, granite countertops and new cabinets. Annie Arneberg, Mox Gunderson and Dan Linnell of Marcus & Millichap represented the seller, a limited liability company, and the buyer in the transaction.
CORAL SPRINGS, FLA. — Marcus & Millichap has brokered the $9.8 million sale of Sample Row, a 90,552-square-foot retail property located at 7355 W. Sample Road in Coral Springs. Built in 2001, Sample Row comprises three one-story buildings housing home goods stores, medical providers and DaVita Dialysis. Douglas Mandel, Barry Wolfe and Alan Lipsky of Marcus & Millichap’s Fort Lauderdale office represented the seller, a private investor based in Miami Beach. The buyer was a limited liability company based in North Miami.
HOMEWOOD, ALA. — Rock Apartment Advisors has brokered the $3.1 million sale of Oxmoor Ridge Apartments, a 96-unit multifamily community located in Homewood. Sanders RH LLC and Highland Homewood Investments LLC purchased the asset from New Lexington Properties II LLC. Justin Uffinger of Rock Apartment Advisors brokered the transaction.
REDONDO BEACH, CALIF. – Montana Avenue Capital Partners (MAC) has acquired a 50,000-square-foot office/industrial building in Redondo Beach for $9.5 million. The office building is located at 2400 Marine Ave. MAC plans to invest $2 million into the property, which will be rebranded as a collaborative workspace called “LINQ on Marine.” MAC was represented by JLL’s Steve Solomon, who will also handle the building’s leasing. The seller, Klein Family Partnership, was represented by JLL’s Luke Staubitz, Harvey Beesen and Andrew Dilfer.
MESA, ARIZ. – The 276-unit Crestwood apartment complex in Mesa has sold to Aspen Square Management for an undisclosed sum. The community is located at 601 South Alma School Road. It was built in 1983. The seller, Lynd, was represented by Steve Gebing of Institutional Property Advisors and Cliff David of Marcus & Millichap.