DALLAS — Law firm Strasburger & Price LLP will renew its lease at the Bank of America Plaza in downtown Dallas. Jim Graham and Travis Ewert of Colliers International represented Strasburger in the transaction, while Joel Pustmueller and Sarah Hinkley of Peloton Commercial Real Estate were the landlord representatives. Strasburger was one of the original tenants in the Bank of America Tower when it opened in 1985. Strasburger will move from floors 43, 44 and 45 and will now occupy roughly 66,000 square feet on floors 60 and 61 along with a portion of floor 62. Strasburger is expecting to move into its new space in 2016. Noel Ragin and Carolyn Norman of Colliers affiliate Charter Acquisitions will be handling the project management for the company’s office renovation.
HOUSTON — Transwestern has arranged the sale of four multifamily properties totaling 704 units in Houston. Ed Cummins, Tim Gregory, Guadalupe Olivares and Ryan Mendez of Transwestern represented the sellers. Transwestern arranged the sale of Cancun Apartments, a 324-unit, garden-style community located at 1855 Wirt Road, purchased off-market for an undisclosed amount by DCM Cancun LP. Transwestern represented the seller, Elite Spring Branch Properties LLC, in the transaction; Huntington at Stonefield, a 264-unit, garden-style community located at 13100 Stonefield Drive, purchased by a first-time Houston buyer for an undisclosed amount and financed with a Fannie Mae loan. Transwestern represented the seller, CRP TBG Huntington Green LP, in the transaction; Legacy Apartments, a 70-unit, garden-style community located at 3905 and 4515 Lockwood Drive, a recent foreclosure that was purchased by an in-state buyer for an undisclosed amount. Transwestern represented the seller, SAMC REO 2013 01 LLC, in the transaction; Hidden Pines, a 46-unit, garden-style community located at 7611 Jalna St., purchased for an undisclosed amount by a private investment group. Transwestern represented the seller, Fat Property LLC in the transaction.
MIAMI — CocoWalk, a 198,000-square-foot lifestyle center located in Miami’s Coconut Grove neighborhood, has sold for $87.5 million. The property was constructed in 1990 and is located approximately two miles from the University of Miami. Federal Realty Investment Trust purchased an 80 percent interest in the property. The REIT purchased the stake with local market partners Grass River Property and The Comras Co.
ATLANTA — Hodges Ward Elliott has brokered the sale of the dual-branded Hilton Garden Inn/Homewood Suites Atlanta Midtown. The 12-story, 228-room property is located in Atlanta’s Midtown district near I-75/85. The hotel features 136 Hilton Garden Inn rooms, 92 Homewood Suites units, a 24-hour fitness center, two business centers, two breakfast areas, two lobbies and reception desks, the Garden Grill & Bar restaurant and 3,027 square feet of meeting space. Hodges Ward Elliott represented the seller, North Point Hospitality Group Inc., in the transaction. The buyer was Carey Watermark Investors Inc. Crescent Hotels & Resorts will manage the hotel.
BRANFORD, CONN. — Thimble Island Brewing Co. (TIBC) has signed a lease for a 30,000-square-foot building, located at 16 Business Park Dr. in Branford. TIBC is expected to open the doors of the newly renovated and expanded facility this summer. Founded in 2012, TIBC now offers several standard varieties on tap at bars and restaurants throughout the Connecticut shoreline, as well as specialty brews in the brewery’s tasting room. Tim McMahon of O,R&L Commercial represented TIBC in the transaction.
BRISTOL, PA. — Bensalem, Pa.-based Roddy Inc. represented Salem Steel NA LLC in the lease of 13,500 square feet of space at 2101 Green Lane in Bristol. Salem Steel NA leased the space, which located within the 70,000-square-foot Bristol Commerce Center, from Green Lane Properties LLC. The tenant plans to use the space as a warehouse/distribution center. Sean Durkin of Roddy Inc. represented the tenant, while Andrew McGhee of Colliers International represented the landlord in the transaction.
LOS ANGELES — Sunrider International has acquired the 297-room SLS Beverly Hills for about $200 million. The hotel is located at 465 S. La Cienega Blvd. The hotel was sold by Sam Nazarian’s SBE, a locally based hospitality company that develops, manages, and operates hotels, restaurants and nightlife venues. SLS Beverly Hills opened in November 2008 as part of the Luxury Collection Hotels & Resorts brand. It was designed by Philippe Starck, and offers a variety of culinary experiences crafted by James Beard award-winning chef Jose Andres. The property has been an AAA Four Diamond Award recipient since 2009. It is managed by Starwood Hotels & Resorts Worldwide. SBE currently has 11 new projects in various stages of development, construction and negotiation, including the recent announcement of five new hotels in Mexico. The new projects include a total of 1,893 hotel rooms and 2,230 residences throughout the world. SBE will remain onboard as the flagship property’s brand operator. The hotel’s ownership group included SBE, the Nazarian family and subsidiaries of SLS Hotels. Sunrider International is a family owned health and beauty company.
LOS ANGELES – The 32-unit Glen Garden Apartments in Los Angeles has sold to a private investor for $5 million. The community is located at 15225 Victory Blvd. It was built in 1964. The buyer, who also owns the neighboring property, plans to remodel the asset. The unnamed seller was represented by Warren Berzack of Berzack Investment Property Advisors.
LOS ANGELES – Globe Con Freight System has leased 169,957 square feet of distribution space in the Los Angeles submarket of Rancho Dominquez. The two-building center is located at 18301 and 18420 Broadwick Street. The five-year lease is valued at $5.8 million. The firm provides transportation services, including harbor drayage, transloading services, retail distribution, fulfillment and nationwide trucking. The center is owned by Carson Companies, which was represented in-house by Todd Burnight. Globe Con was represented by Don Smith of Lee & Associates Los Angeles – Long Beach.
SCOTTSDALE, ARIZ. – Northsight Village Shopping Center, an 88,031-square-foot retail center in Scottsdale, has sold to Arizona Partners for $11.5 million. The center is located just north of Raintree Drive. It is anchored by Savers. The seller was GDA Real Estate Services. The transaction was executed by Ari Spiro and Sean Stutzman of ORION Investment Real Estate.