BOSTON — Canada-based Kids & Co. is continuing its U.S. expansion into the New England market with a 20,000-square-foot childcare center at 451 D Street in Boston. The building is owned in a joint venture led by Meritage Properties and CV Properties. CBRE/New England is the leasing agent for 451 D Street. The center will offer education and care to more than 200 children, providing full-time, part-time and emergency backup care for children from the ages of six weeks to six years. Kids & Company offers guaranteed placement to 451 D employees, no late fees, password protected web cams and proprietary educational programs, including music, Spanish, on-site special needs coaching, and sign language. The center also provides children with snacks and meals fresh-from-scratch, and free of chemicals, additives and preservatives. Kids & Company was launched in 2002 in Toronto, Canada, by Victoria Sopik, a mother of eight, and Jennifer Nashmi, a mother of three.
HURST, TEXAS — Marcus & Millichap has brokered the sale of a 22,066-square-foot retail property located at 740 W. Pipeline Road in Hurst, roughly 25 miles west of Dallas. At the time of sale, the multi-tenant property was leased to Advance Auto Parts, America’s Best Contacts & Eyeglasses and Dollar Tree. Built in 2015, the center is adjacent to a Walmart Neighborhood Market. Geoff Ficke and Chris Adams of Marcus & Millichap represented the seller, a limited liability company. Mike James and Tony Michael Anderson of Marcus & Millichap’s Encino, Calif., office procured the buyer, an individual/property trust.
RIVERSIDE, CALIF. — MAT Holdings Inc. has purchased a 303,100-square-foot industrial building in Riverside for $28.2 million. The Class A facility is located at 6975 Sycamore Canyon Blvd. The company plans to use the building as its West Coast distribution center. The seller was Investment Building Group.
HOUSTON — NAI Partners has negotiated a 21,263-square-foot office lease renewal at Brookhollow Central II, located at 2900 N. Loop West in Houston. Dan Boyles and Liz Westcott-Brown of NAI Partners represented the tenant, Houston-based law firm Lorance & Thompson PC. Brian Strait of Lincoln Property Co. represented the landlord, Parmenter Brookhollow LLC, during the negotiations.
FARMINGTON HILLS, MICH. — ElmTree Funds has acquired a 116,824-square-foot office property in Farmington Hills. Upon acquisition, ElmTree oversaw a $7 million renovation at the property, which is occupied by Sumitomo Electric Wiring Systems Inc. As part of the same sales transaction, ElmTree acquired eight other buildings in various states totaling 312,974 square feet for $74.1 million. Each property is 100 percent leased. Other properties acquired in the Midwest include a 16,668-square-foot healthcare building in West Des Moines, Iowa, and a 16,694-square-foot healthcare building in O’Fallon, Mo. BioLife Plasma Services LP occupies both properties.
CHICAGO — 4C Insights has signed a 14,394-square-foot office lease expansion at 1 E. Wacker Drive in Chicago. The data science and media technology firm previously occupied 4,785 square feet in the building. This expansion more than triples the firm’s footprint. Bill Sheehy and Mark Cassata of CBRE represented 4C in the lease transaction. John Beason and Monica Moore of JLL represented the undisclosed landlord.
SAN JOSE, CALIF. — Institutional Property Advisors has arranged a $32.5 million bridge loan for the 112-unit Terra Willow Glen apartments in San Jose. The community is located at 850 Meridian Way. It was built in 1979. The borrower purchased the asset in cash, six months prior to exploring value-add financing options. The borrower planned to take a lower leverage bridge loan option at lower pricing, but considered higher leverage options, which provided more attractive leveraged returns. Anita Paryani-Rice of Institutional Property Advisors arranged the loan.
OAKLAND, CALIF. — Lee & Associates has arranged the $2.5 million sale of a property net-leased to Bridgestone in Oakland. Bridgestone has occupied the 7,150-square-foot building since 1984. Ryan Bennett and Ryan Barr of Lee & Associates represented the seller, Granite Peak Property Investments, in the transaction. The buyer was undisclosed.
NANTUCKET, MASS. — Strategic Storage Growth Trust (SSGT), a public non-traded REIT sponsored by SmartStop Asset Management, has purchased an 840-unit self-storage facility in Nantucket. Located at 6 Sun Island Road, the 93,000-square-foot facility was constructed in 2002 on 1.7 acres of land. The property was approximately 91 percent occupied at the time of acquisition. The property includes 17 climate-controlled wine storage units that serve the Nantucket Wine & Food Festival. The SSGT portfolio currently consists of 21 operating self-storage facilities located in 10 states comprising approximately 13,700 self-storage units and approximately 1.6 million net rentable square feet of storage space.
PENNSYLVANIA — Happy Home Communities (HHC), the mobile home park and RV park investment arm of Los Angeles-based Gelt Inc., has acquired a mobile home park portfolio in central and northeast Pennsylvania for $13 million. HHC acquired the three-property 439-space portfolio from Horizon Land Company. Jonathon McClellan of Marcus & Millichap brokered both sides of the transaction. The company plans to bring in affordable manufactured homes to fill approximately 48 empty lots and will upgrade common areas and add amenities, including playgrounds, to the properties over the next 36 months. A. Hunter Property Management, a firm focused on the management of manufactured housing communities throughout Pennsylvania, has been retained to take over management responsibilities for the portfolio, which includes: Birchwood Village Estates, a 209-space, 26.26-acre mobile home park located at 1946 Wyoming Avenue in Exeter. It is currently 82 percent occupied. Timberend Mobile Home Community, a 153-space, 70.6-acre mobile home park located at 528 Ruben Lehrer Road in Muncy just outside of Williamsport. It is currently 85 percent occupied. Wedgewood Mobile Homes Community, a 77-space, 19.16-acre mobile home park located at 23 Minton Drive in Selinsgrove. It is currently 90 percent occupied.