SAN FRANCISCO — Financial technology company Affirm has signed an eight-year lease for 86,225 square feet of office space in San Francisco. The space is located at 650 California St. Affirm will occupy floors eight through 12, as well as the building’s annex. The company is scheduled to relocate its headquarters from nearby 633 Folsom St. this August. Co-working company WeWork also recently leased space at this property. The landlord is Columbia Property Trust.
PORTLAND, ORE. — The PIA Agency has leased 9,380 square feet of creative office space at the New Market Theater in Portland. The theater is located at 115 S.W. Ash St. in the Old Town-Chinatown historic district. The New Market Theater was built as a marketplace and 1,200-seat theater in two phases in 1872 and 1875. It was modeled after a building in Venice, Italy. The space was converted into creative office after it was purchased by Swift Real Estate Partners in 2015. Jennifer Medak of Colliers International represented PIA, a creative content agency. CBRE’s Trevor Kafoury, Michelle Franceschi and Autumn Brice represented Swift.
CHARLOTTE, N.C. AND SARASOTA, FLA. — The Dilweg Cos. has purchased a two-building office portfolio in the Southeast for $115.5 million. The assets include the 23-story First Citizens Bank Plaza in Uptown Charlotte and the two-tower Sarasota City Center in downtown Sarasota. Built in 1986 and renovated in 2002, the 476,393-square-foot First Citizens Bank Plaza was 29 percent leased at the time of sale to tenants such as First Citizens Bank, Advanced Disposal, The Carlyle Group and ManpowerGroup. Dilweg, which also announced the opening of its new Charlotte office, has tapped Tom Fitzgerald and Barry Fabyan of JLL to lease the property. Built in 1989, the 245,293-square-foot Sarasota City Center was 88 percent leased at the time of sale to tenants such as Boar’s Head, Wells Fargo, Merrill Lynch and UBS. Dilweg has retained Lori Hellstrom of Colliers International’s Tampa Bay office to lease Sarasota City Center. Dilweg plans to invest more than $10 million in capital improvements for First Citizens Bank Plaza and more than $4 million to improve Sarasota City Center. Ryan Clutter, Scot Humphrey, Herman Rodriguez, Tracey Goo and Chris Lingerfelt of HFF represented the sellers, Osprey East LLC and Osprey s.a. Ltd., in the transaction. Travis …
SIDNEY, OHIO — Cooper Commercial Investment Group has negotiated the sale of a single-tenant property net leased to Chipotle Mexican Grill in Sidney for $1.5 million. The property is located about 40 miles north of Dayton near I-75. Chipotle signed a 10-year lease in 2016. Dan Cooper of Cooper Commercial represented both parties in the sales transaction. The buyer, an Ohio-based private investor, purchased the property in a 1031 exchange. The seller was a private investment group also based in Ohio.
TROY, MICH. — Signature Associates has arranged the sale of a 15,040-square-foot industrial building in Troy. The sales price was not disclosed. The property is located at 1350 Piedmont Drive. Paul Hoge and John Boyd of Signature Associates represented the seller, Wayne Huron Piedmont LLC. Joe Hamway, also of Signature Associates, represented the buyer, Falcon SJD Investments LLC.
ROYAL OAK, MICH. — Friedman Integrated Real Estate Solutions has brokered the sale of a 2,585-square-foot retail building in Royal Oak, about 15 miles north of Detroit. The sales price was not disclosed. PNC Bank owned and occupied the building located at 1710 E. 12 Mile Road. Robert Hibbert and Todd Hawley of Friedman represented both the seller and the buyer, 2015 Bellaire LLC.
SAN LEANDRO, CALIF. — A joint venture between Trion Properties and DVO Real Estate has acquired the 146-unit Bel Brook and Hideaway Apartments in San Leandro for $36.6 million. The community is located at 77-85 Estabrook St. Bel Brook and Hideaway was originally built in 1967. It was 94 percent occupied at the time of acquisition. The JV plans to modernize the property through exterior and interior renovations, including the installation of new vinyl wood plank flooring, stainless steel kitchen appliances, modern cabinetry, high-end finishes and bathroom upgrades. The property will also be rebranded and receive new signage. John Leyvas Jr. and Brad Lehman of Newmark, Cornish and Carey represented both the buyer and seller, John Sullivan Family, in this transaction. Continental Partners arranged acquisition financing through NXT Capital.
MONTEREY, CALIF. — A local private investor has acquired the 52-room Stargazer Inn & Suites for $8.4 million. The boutique hotel is located at 1046 Munras Ave. in Monterey. The hotel features an indoor pool and spa, breakfast room and parking. Many guest rooms offer fireplaces and partial ocean views. Eric Gunderson of Avison Young represented the seller, Monterey Signature Hotels, in this transaction.
CARLSBAD, CALIF. — Bemer USA has purchased a 19,601-square-foot industrial flex building in Carlsbad for $2.5 million. The building is located at 1989 Palomar Oaks Way. It includes 5,000 square feet of warehouse space. Jeff Abramson of Lee & Associates represented Bemer USA. NGKF’s Brent Bohlken represented the seller, RM-USE LLC, in this transaction.
CHICAGO — The Boulder Group has arranged the sale of Archer Station in Chicago for $24.3 million. The retail property is fully leased to four tenants including LA Fitness, Ross Dress for Less, AT&T Wireless and Athletico Physical therapy. The property is located at 2640 W. Pershing Road. Randy Blankstein and Jimmy Goodman of The Boulder Group represented both the seller, a Midwest-based real estate development company, and the buyer, an institutional investor.
