more_sales_and_leases

The Simpson Organization Purchased Office Portfolio in Richmond for $22M

by John Nelson November 11, 2014

RICHMOND, VA. — The Simpson Organization has acquired Westerre I and II, a Class A office portfolio in the Westerre Office Park in Richmond, for $22 million. The office assets total 163,290 square feet and are 92.1 percent leased to 26 tenants, including Tridium Inc., Interbake Foods LLC, Comcast and Batzli Stiles Butler Law Firm. Eric Robison of Cushman & Wakefield | Thalhimer’s Richmond office represented the undisclosed seller in the transaction. The Simpson Organization has hired Dean Meyer and Mac Wilson of Cushman & Wakefield | Thalhimer to lease the properties going forward.

November 11, 2014

Multifamily Southeast Virginia

ARA Brokers Sale of Infinity Apartments in Arlington

by John Nelson November 11, 2014

ARLINGTON, VA. — ARA has brokered the sale of Infinity Apartments, a 227-unit, mid-rise apartment community in Arlington. Washington, D.C.-based Capital Investment Advisors acquired the property from San Francisco-based Carmel Partners for an undisclosed price. Drew White, Mike Marshall and Ryan Ogden of ARA represented Carmel Partners in the transaction. Capital Investment Advisors plans to make upgrades to the common areas of the apartment community, which was constructed in 1959 and renovated in 2011. Occupancy at the time of the sale was 96.7 percent.

November 11, 2014

Colorado Industrial Western

Gladstone Commercial Buys Denver Industrial Building for $10M

by Nellie Day November 11, 2014

DENVER – Gladstone Commercial Corporation has acquired a 189,210-square-foot industrial building in Denver for $10 million. The building is located in an industrial park near Downtown Denver. It is fully leased to Premium Pet Health (PPH) through December 2024. The building serves as PPH’s headquarters, as well as its manufacturing and distribution center. PPH specializes in the sourcing, production, sales and distribution of all proteins used by the pet care industry. PPH is a wholly owned subsidiary of Smithfield Foods.

November 11, 2014

California Industrial Western

Corona Industrial Building Sells for $3.7M

by Nellie Day November 11, 2014

CORONA, CALIF. – A 31,068-square-foot industrial building in Corona has sold to CFA LLC for $3.7 million. The building is located at 369 Meyer Circle. The property was purchased by the existing tenant, which has occupied the building since 2010. CFA was represented by Larry Null of Lee & Associates. The seller, Maddie LLC, was represented by Scott Smith of the same firm.

November 11, 2014

Multifamily Texas

Muskin Commercial Arranges Sale of Apartment Complex in Austin

by Haisten Willis November 10, 2014

AUSTIN — Muskin Commercial LLC has arranged the sale of Retama Trace Apartments, a 42-unit complex located at 9209 Northgate Blvd. in Austin. The property was built in 1984 and sits on 1.3 acres of land. Amenities include a swimming pool, picnic courtyard and native landscaping. Karl Haussmann of Hindsite 20/20 Real Estate represented the buyer, 3405 Dimond LLC. Ellen Muskin and Daniel Elam of Muskin Commercial represented the seller, 9209 Northgate LLC.

November 10, 2014

Retail Texas

SHOP Cos. Investment Sales Brokers Sale of Retail Center in Metro Dallas

by Haisten Willis November 10, 2014

COPPELL, TEXAS — SHOP Cos. Investment Sale has brokered the sale of Riverchase Plaza, a 21,116-square-foot retail center in Coppell. The property sits 25 miles northwest of downtown Dallas at the corner of Macarthur Boulevard and Belt Line Road. Riverchase Plaza was 94 percent leased at the time of closing to tenants including Bank of America, O’Reilly Auto Parts, Pro-Cuts and Allstate Insurance. Tommy Tucker with SHOP Cos. Investment Sales represented the seller, a Dallas-based LLC. A Florida-based private investor purchased the property.

November 10, 2014

Office Texas

CBRE Arranges 125,000 SF Office Lease in Dallas

by Haisten Willis November 10, 2014

DALLAS — CBRE has arranged the lease of 125,000 square feet of office space to SoftLayer, an IBM Co. SoftLayer will occupy space within the Stanford Corporate Center located at 14001 N. Dallas Pkwy. The firm will relocate its Dallas corporate headquarters in February 2015 from its current location at 4849 Alpha Road. IBM acquired SoftLayer in July 2013. The new headquarters has capacity for more than 700 employees. Clay Vaughn, Steve Rigby and Mike Cleary of CBRE represented SoftLayer in the transaction. Brooke Scheurich and Fred Noblett of CBRE’s project management team are guiding the design service selection and construction process for SoftLayer’s new office. Jerry Averyt and Greg Trout of Henry S. Miller Cos. represented the landlord, TCI Stanford LLC.

November 10, 2014

Multifamily Texas

M&M Arranges Sale of 77-Unit Apartment Complex in Fort Worth

by Haisten Willis November 10, 2014

FORT WORTH — Marcus & Millichap has arranged the sale of Travis Gardens, a 77-unit apartment property located in Fort Worth. Al Silva of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, NSpire Assets. Silva also secured the buyer, a private investor. The new owner assumed an existing Fannie Mae loan to acquire the property. Travis Gardens is located at 2901 Travis Ave. and is near Texas Christian University and JPS Hospital.

November 10, 2014

California Industrial Western

Selective Real Estate Investments Buys Industrial Complex in North Hollywood

by Nellie Day November 10, 2014

LOS ANGELES – Selective Real Estate Investments has acquired an 82,660-square-foot industrial complex in North Hollywood for an undisclosed sum. The three-building complex is located at 11605 & 11611 Hart Street. The seller, Bobrick Washroom Equipment, has occupied the space since 1965. Selective Real Estate was represented by David Young and Chad Gahr of NAI Capital’s Encino office.

November 10, 2014

California Office Western

True Religion Apparel Leases 72,246 SF Office Building in Manhattan Beach

by Nellie Day November 10, 2014

MANHATTAN BEACH, CALIF. – True Religion Apparel has leased a 72,246-square-foot office building in Manhattan Beach. The new space is located at 1888 Rosecrans Ave. The jeans and apparel company will be relocating its corporate headquarters from nearby Vernon. The landlord is Continental Development Corporation. The transaction was executed by John Minervini, Erik Larson, Robin Dodson, Chris Tolles, Michael DeSantis and John Doyle of Cushman & Wakefield.

November 10, 2014

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