MURRIETA, CALIF. — Coldwell Banker Commercial has arranged a 10-year lease for 9,506 square feet of retail space at Murrieta Crossings, located at 39745 Avenida Acacias, Suites A and B, in Murrieta. Metroflex Gym triple-net leased the space from M.C. Retail. Cyndi Light of Coldwell Banker represented the landlord, while Jay Brun and Steve Castellanos, also of Coldwell Banker, represented the tenant in the deal.
MEDIA, FAIRLESS HILLS AND LANGHORNE, PA. — CBRE has brokered the sales of four office buildings in Media, Fairless Hills and Langhorne for a combined sale price of $6.9 million. Stephen Marzullo and Adam Silverman of CBRE represented the seller, Penguin Real Estate Investors, in each transaction. In the first transaction, 53 Baltimore Pike LLC purchased a three-story, 35,902-square-foot office building located at 53 W. Baltimore Pike in Media. Constructed in 2002, the property is currently 53 percent leased to two tenants, Connect America and Apacheta Corp. In the remaining transactions, Olymbec acquired a 51,384-square-foot office building, located at 430-450 Lincoln Highway in Fairless Hills, and two office buildings at 2050 and 2080 Cabot Blvd. West in Langhorne. The Fairless Hills property is anchored by the Social Security Administration. At the time of sale, the property was 52 percent leased. The two buildings in Langhorne, which total 69,417 square feet, are currently 61 percent occupied. Dentaurum Inc., Sperry Van Ness, TPG Telemanagement, Clear Employer Service and Stief Gross Sagoskin Cassetti occupy the buildings. This three-building acquisition by Olymbec marks the Canada-based firm’s entry into the Greater Philadelphia office market.
CHICAGO — Murphy Development Group (MDG) has sold its Hyatt Centric the Loop Chicago Hotel to Germany-based Deka Immobilien for $110 million in a long-term sale-leaseback agreement. The four-star Hyatt Centric is a full-service lifestyle brand designed for business and leisure travelers. MDG developed the 257-room hotel in 2015, which includes French restaurant Cochon Volant and rooftop bar AIRE. Integrated Clark Monroe, an affiliate of MDG, will maintain a long-term franchise agreement with Hyatt Hotels Corp. Jaime Fink and Jeff Bramson of HFF brokered the transaction, which amounts to $428,000 per room.
PLAINFIELD, IND. — HSA Commercial has negotiated a 55,000-square-foot industrial lease for Kuehne + Nagel at Gateway Business Park in Plainfield, a southwest suburb of Indianapolis. The Switzerland-based global logistics provider will occupy the space within the new Gateway Industrial IV building, constructed in early July. The 151,220-square-foot distribution center is located at 845 S. Columbia Road. The company currently occupies 160,230 square feet in a separate building at the business park. Gateway Industrial IV is the fifth and final building at the park developed by HSA Commercial in partnership with Boston-based Washington Capital Management. The building features 30-foot clear heights, 16 expandable truck docks, four drive-in doors and parking for 156 vehicles. John Hanley, Terry Busch and Jared Scaringe of CBRE are handling leasing for the remaining 95,720 square feet at Gateway Industrial IV. Mark Writt and Daniel Rose of CBRE represented Kuehne + Nagel in the lease transaction. Meyer Najem is the general contractor for the project, while KJG Architecture provided design services. The PrivateBank provided the project financing.
CHICAGO — Marcus & Millichap has arranged the sale of a 14,400-square-foot office building in Chicago for $4 million. The property is located at 60 W. Superior St. in the River North neighborhood. The sale presents a redevelopment opportunity, according to Marcus & Millichap. Alper Services, the seller, currently occupies the building. Centrum Realty & Development purchased the property. Kyle A. Stengle and Stephen Lieberman of Marcus & Millichap represented the seller in the transaction.
RANSON, W.VA. — A joint venture between Heidenberg Properties Group and Strategic Real Estate Partners has purchased The Potomac Marketplace, a 370,000-square-foot shopping center located along Route 9 in Ranson. The property was 92 percent leased at the time of sale to tenants including Weis Supermarket, Kohl’s, Petco and The Home Depot. The Potomac Marketplace is also home to restaurants including Panera Bread, Dunkin’ Donuts, Glory Days Grill, California Tortilla, Roy Rogers and John’s Café. This purchase marks the joint venture’s sixth acquisition overall and third since November 2016.
SAN ANTONIO — The Mansour Group at Marcus & Millichap has brokered the sale of Hotel Valencia and Retail Net Leased Condos in the River Walk area of San Antonio. The hotel property and accompanying retail condos are located at 150 E. Houston St. The property was leased to The Valencia Group on a long-term NNN lease. The Mansour Group represented the seller, GrayStreet Partners, in the transaction. An out-of-state private investor purchased the asset.
NORMAN, OKLA. — CBRE has negotiated the sale of Colonial Estates, a 104,022-square-foot shopping center located at the intersection of Lindsey Street and 12th Avenue in Norman. The property was 88 percent leased at the time of sale to tenants such as CitiTrends, Dollar General and Rent-a-Center. Jason Little, Justin Brannon, Mark Inman, Stuart Graham and Ryan Storer of CBRE represented the seller in the transaction. Waco-based Hoppenstein Properties Inc. purchased the asset for an undisclosed price.
LEAGUE CITY AND THE WOODLANDS, TEXAS — Colliers International has arranged the sale of two healthcare facilities in metro Houston. Beth Young of Colliers represented the seller in the disposition of South Shore Surgicenter, a 7,365-square-foot ambulatory surgical center and diagnostic clinic located at 2622 Marina Bay Drive in League City. Elena Bakina of Colliers represented Integra Plaza LLC in its sale of a 14,573-square-foot medical office and surgery center located at 3072 College Park Drive in The Woodlands. Sales prices were not disclosed for either transaction.
AURORA, COLO. — Inland Real Estate Group has purchased the 480-unit Conifer Creek Apartments in Aurora for $95 million. The community is located on two parcels at 2205 S. Racine Way and 12775 E. Pacific Drive. Conifer Creek contains 53 buildings with one- and two-bedroom units. Each unit includes a wood-burning fireplace, energy-efficient appliances, nine-foot vaulted ceilings, a full-size washer and dryer and an oversized balcony or patio. The property also features community amenities, including a newly constructed clubhouse with WiFi, two outdoor resort-style swimming pools, two spas, a fitness center, a bicycle/jogging path, barbecue grills, a business center and pet-friendly amenities. The apartment complex is 96 percent occupied. Matt Tice and Brett Smith of Inland Real Estate Acquisitions executed the transaction.
