POMONA, CALIF. — Foremost Cos. has purchased a 100,000-square-foot office building in Pomona for an undisclosed sum. The building is located at 901 Corporate Center Drive. The building’s interior is currently improved with classrooms and administrative offices. The asset is situated within the 50-acre University Corporate Center business park. Current owners and tenants at the business park include pharmaceutical, professional offices and businesses, educational, and state and county offices. Stonewood Properties was hired as property manager to undertake deferred maintenance and service current tenant needs. NKF’s John Ewart and John Daciolas have been hired as leasing agents.
RENO, NEV. — An affiliate of Sandpiper LLC has acquired the 117-room Courtyard by Marriott in Reno for an undisclosed sum. The hotel is located at 6855 S. Virginia St. The LLC plans an extensive renovation, which will start this fall. It will include upgrades to the exterior façade, guestrooms, lobby and bistro. Sandpiper was attracted to the hotel’s in-place cash flow and location. Teague Hunter, Danny Givertz and Trey Scott of Hunter Hotel Advisors executed the transaction.
SHENANDOAH, TEXAS — Urban Air Trampoline & Adventure Park will open a 37,000-square-foot venue at Sam Moon Center in Shenandoah, a northern suburb of Houston. The venue will offer trampoline activities, indoor skydiving, ropes courses, climbing walls and a café. Michael Stern of Edge Realty Partners represented Urban Air in the lease negotiations. Steve Greenberg and Kendall Isben of The Retail Connection represented the landlord, Sam Moon Group. The opening is slated for July.
HUMBLE, TEXAS — Dallas-based healthcare investment firm Caddis has acquired Atascocita Medical Center, a 30,906-square-foot medical center located in the northern Houston metro of Humble. The property opened in 2015 and is currently 94 percent leased to urgent care clinic Memorial Hermann Medical Group Pediatrics Atascocita, as well as primary and specialty care practices. Caddis also recently re-acquired the 43,119-square-foot Prairie View Medical Plaza in Flower Mound, which it developed in 2012 and sold in 2015. The seller of Prairie View Medical Center, which is 100 percent leased, was Ridgeline Capital Partners.
CHICAGO — The Boulder Group has arranged the sale of a PNC Bank ground lease in Chicago for $4 million. The single-tenant property is located at 8700 S. Cottage Grove Ave. near I-94. There are 22 years remaining on the original 30-year PNC Bank ground lease. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, an East Coast-based real estate partnership. Jon Busse of Colliers International represented the buyer, Burlingame Midland LLC. The new owner completed a 1031 exchange for the recent sale of a retail property occupied by Home Depot in Midland, Mich.
BROOKHAVEN, GA. — Caddis has acquired Brookhaven Medical Center, a 48,588-square-foot medical office building located at 3925 Peachtree Road in Brookhaven, a city adjacent to Atlanta’s Buckhead district. The sales price was not disclosed, but CoStar reports the Dallas-based healthcare real estate firm acquired the asset for $27.6 million. Korey Prefontaine, Sonny Molloy, Bob Johnson and Jared Kaye of Marcus & Millichap represented the seller, a joint venture between G.H. Anderson & Co. and The Gipson Co. Built in 2016, Brookhaven Medical Center was fully leased at the time of sale, with Walgreens occupying the ground floor and Piedmont Healthcare occupying the top two floors.
DURHAM, N.C. — The Dilweg Cos. has sold Regional Commerce Center, a 1.2 million-square-foot industrial complex located at 706 Ellis Road in Durham. The 46-building warehouse complex is situated on 65 acres directly adjacent to NC Highway 147. Constructed in 1929, the property operated as a tobacco drying warehouse until 2005. At the time of sale, Regional Commerce Center was 34 percent leased. Chris Norvell, Justin Good and Patrick Nally of HFF arranged the transaction on behalf of Dilweg. The name of the buyer and the sales price were not disclosed.
MCLEAN, VA. — Avison Young has brokered the sale of a 79,880-square-foot office building located at 1764 Old Meadow Lane in McLean, roughly 14 miles west of Washington, D.C. Rob Walters, Chip Ryan, John Kevill and Jim Kornick of Avison Young arranged the transaction. Young Group Inc. acquired the six-story building for an undisclosed price. The vacant building is situated on 1.9 acres of land. Young Group plans to convert the building into a self-storage facility. Butz-Wilbern is providing design services for the project.
MERIDIAN, IDAHO — Pine Tree LLC, in partnership with a U.S. state pension fund, has acquired Meridian Crossroads, a 527,000-square-foot shopping center in Meridian, for $78.7 million. DDR Corp. sold the asset, located 11 miles west of Boise. The center is home to tenants such as PetSmart, Pier 1 Imports, Bed Bath & Beyond and Ross Dress for Less. Pine Tree is also working with Albertsons Cos. as they open Market Street Idaho, a 109,000-square-foot experiential grocery store. The new store is expected to open at Meridian Crossroads later this year.
HENDERSON, NEV. — NKF Capital Markets has arranged the sale of Galleria Commons, a 278,411-square-foot shopping center in Henderson. Rob Ippolito of NKF Capital Markets arranged the transaction on behalf of the seller, Brixmor Property Group. 3D Investments acquired the property for an undisclosed price. At the time of sale, Galleria Commons was fully leased to tenants such as T.J. Maxx, Stein Mart, Babies ‘R’ Us, Burlington, Dollar Tree, Tuesday Morning and Kirkland’s.