sales_and_leases

Baker Katz Sells Land, Building Occupied by Advance Auto Parts in Houston

by Taylor Williams April 6, 2017

HOUSTON — Baker Katz, a Houston-based brokerage firm, has completed the sale of 30,000 square feet of land, on which resides a 7,000-square-foot retail building occupied by Advance Auto Parts. The property lies at the intersection of Farm to Market Road 1960 and Aldine Westfield Road on Houston’s north side. Baker Katz purchased the land in 2016 and constructed the freestanding store on behalf of Advance Auto Parts. Bob Moorhead of Trivanta represented Baker Katz in the transaction. The name and representative of the buyer, a private investor, were not released.

April 6, 2017

Lee & Associates Brokers Sale of Two Industrial Properties in Metro Dallas

by Taylor Williams April 6, 2017

GARLAND, TEXAS — Lee & Associates has brokered the sale of two industrial properties totaling 24,420 square feet in the Dallas-Fort Worth metro of Garland. The first property is a 12,000-square-foot building located at 2805 National Drive and the second is a 12,420-square-foot property located at 2901 National Drive. Brett Lewis of Lee & Associates represented the seller, BBI Realty LLC. Additional terms of sale were not released.

April 6, 2017

Midwest Office Ohio

Serendipity Labs Coworking Signs Two New Leases in Columbus, Ohio

by Kristin Harlow April 6, 2017

COLUMBUS, OHIO — Serendipity Labs Coworking has signed two new leases for its coworking office space concept in Columbus. The first location is slated to open this summer in the Fifth Third Center at 21 E. State St. and consists of 14,000 square feet. The second location includes the new construction of 22,000 square feet at 900 N. High St. Renascent Hospitality, owned by Columbus natives Trevor Warner and Scott Somerville, will own and manage the Serendipity Labs in Columbus. Serendipity Labs provides members-only workplaces with meeting facilities at corporate standards, according to the company’s website. Membership to Serendipity Labs includes the use of dedicated private offices, team rooms, lab café and work lounge. Full-time, part-time and day passes are available.

April 6, 2017

Hospitality Midwest Missouri

HREC Arranges Sale of Holiday Inn Hotel in St. Louis

by Kristin Harlow April 6, 2017

ST. LOUIS — HREC Investment Advisors has arranged the sale of the Holiday Inn Airport West-Earth City in St. Louis. The sales price was not disclosed. The 155-room hotel is located less than eight miles from Lambert-St. Louis International Airport. Ted Anka and Tom Sommer of HREC represented the undisclosed seller in the transaction.

April 6, 2017

Colorado Multifamily Western

Boulder Housing Authority Purchases Tantra Lake Apartments for $45.6M

by Nellie Day April 5, 2017

BOULDER, COLO. — The Boulder Housing Authority has acquired the 185-unit Tantra Lake Apartments in Boulder for $45.6 million. The garden-style community is located at 1000 W. Moorhead Circle. Tantra Lake is situated about three miles southeast of downtown Boulder and the University of Colorado Boulder campus. Community amenities include a heated indoor swimming pool, hot tub, outdoor basketball and tennis courts, grilling areas, playground, 24-hour fitness facility, resident lounge, business center, man-made lake and views of the Rocky Mountains. HFF’s Matthew Lawton and Jordan Robbins represented the seller, Waterton, in this transaction.

April 5, 2017

California Multifamily Western

Graham Street Realty Acquires Hookston Square Office Campus in the East Bay for $30.4M

by Nellie Day April 5, 2017

PLEASANT HILL, CALIF. — Graham Street Realty has acquired the Hookston Square office campus in the East Bay community of Pleasant Hill for $30.4 million. The two-building, 207,555-square-foot campus is located at 3478 and 3480 Buskirk Ave. Hookston Square is situated east of Interstate 680 and close to State Route 24, which provides access to downtown San Francisco. The campus is currently 87 percent leased to tenants like John Muir Health, Pacific Business Center, Accelrys, Maze & Associates and the Source Group. HFF’s David Dokko and Garrett Calbert represented both the buyer and seller, True North Management Group, in this transaction. The firm also secured a three-year, floating-rate acquisition loan through a commercial bank for the buyer.

April 5, 2017

California Office Western

Summit Financial Consultants Renews, Expands at Westlake Park Place in LA

by Nellie Day April 5, 2017

LOS ANGELES — Summit Financial Consultants has renewed its lease and expanded its footprint at Westlake Park Place in the Westlake Village submarket of Los Angeles. The wealth management firm has leased 6,090 square feet at the final building that was constructed at Westlake Park Place. The new space is located at 3075 Townsgate Road. Mike Foxworthy of DAUM Commercial represented Summit Financial. Craig Cahow and Mike Foxworthy of DAUM Commercial represented the landlord, Westlake Plaza Center East – II LLC.

April 5, 2017

Multifamily Texas

Performance Properties Acquires 300-Unit Apartment Complex in Houston

by Taylor Williams April 5, 2017

HOUSTON — A partnership led by Performance Properties, a Dallas-based property management firm, has acquired Timberwalk Apartment Homes, a 300-unit multifamily complex in Houston. Situated on 10.2 acres at 5635 Timber Creek Place Drive, the gated property features a pool, fitness center, clubhouse and common areas. Built in 1984, the community was 93 percent occupied at the time of sale. Todd White and David McQuaid of Performance Properties represented the partnership, known as Timberwalk Associates LP, in the transaction. Russell Jones, Matt Saunders and Zach Springer of ARA Newmark represented the seller, Mosaic Residential Inc. The new ownership plans to invest $1.2 million to complete a renovation program at Timberwalk that Mosaic Residential began in 2014.

April 5, 2017

Office Texas

EDGE Negotiates Sale of 11,544 SF Office Building in Metro Dallas

by Taylor Williams April 5, 2017

GRAPEVINE, TEXAS — EDGE Realty Capital Markets has arranged the sale of 2301 Ira E. Woods, an 11,544-square-foot office property located at the intersection of Ira E. Woods Ave. and State Highway 114 in Grapevine, a northwestern suburb of Dallas. Brandon Crow and Wilson Stafford of EDGE represented the seller, Georgia-based DayStar Management LLC, in the transaction. Michelle Hudson of Hudson Peters Commercial represented the unspecified buyer.

April 5, 2017

Illinois Midwest Retail

Mid-America Arranges $13M Sale of Shopping Center in Peoria, Illinois

by Kristin Harlow April 5, 2017

PEORIA, ILL. — Mid-America Real Estate Corp. has arranged the sale of Sheridan Village in Peoria for $13 million. The 310,094-square-foot shopping center is located at the intersection of Sheridan Road and Lake Avenue. The grocery-anchored center includes Hy-Vee, Bergner’s and Planet Fitness. Toronto, Canada-based Northbridge Investment Management purchased the center. Joe Girardi of Mid-America brokered the transaction on behalf of the seller, Cincinnati-based Viking Partners.

April 5, 2017

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