FORT COLLINS, COLO. — Rockies Lodging Capital has purchased two hotels in Fort Collins for an undisclosed sum. The hotels include the 113-room Residence Inn and the 112-room Courtyard located at 1127 and 1200 Oakridge Drive, respectively. The properties are situated in the center of Fort Collins’ main commercial corridor. CBRE Hotels’ Mark Darrington and Larry Kaplan represented the seller, Southwest Value Partners, in this transaction.
SAN DIEGO — Pacifica Host Hotels has sold its 118-room Best Western Plus Otay Valley in the San Diego submarket of Chula Vista to a California-based hotel ownership group. The price was not disclosed. The hotel will retain the Best Western branding. The new owner plans to renovate the hotel. Leigh-Anne Ashton, Bruce Holmes and Harry Hashim of HotelBrokerOne represented both parties. The transaction involved a 1031 exchange.
SACRAMENTO, CALIF. — A limited liability company has acquired the 60-unit Red Robin Apartments in Sacramento for $3.9 million. The community is located at 2080 Red Robin Lane. It features four studios, 26 one-bedroom units, 26 two-bedroom units and four two-bedroom townhomes. Steve Nelson and Dusty Haeling of Marcus & Millichap represented both the buyer and seller, another LLC, in this transaction.
SAN ANTONIO — Marcus & Millichap has brokered the sale of Andrews Apartments, an 11-unit complex located at 219 Andrews St in San Antonio. The property recently underwent renovations to improve its roofing, flooring and windows. Mark Diebold of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. The name and representative of the buyer were not disclosed.
IRVING, TEXAS — Younger Partners has negotiated a 5,960-square-foot lease renewal at 122 West, a six-story, Class A office property in the Dallas-Fort Worth metro of Irving. Daniel Rudd and Billy Vahrenkamp of Colliers represented the tenant, SEI Incentives Ltd., a Texas-based firm that provides customized business meetings and employee rewards programs. Sean Dalton and Kathy Permenter of Younger Partners represented the landlord in the transaction.
WEST LAFAYETTE, IND. — In a joint venture with T2 Capital Management, South Street Capital has acquired an 18,300-square-foot mixed-use building in West Lafayette. The purchase price was not disclosed. The three-story building is located at 100 Northwestern Ave. near Purdue University. Locally known as The Miller Building, the building consists of retail and office space as well as apartment units.
STURTEVANT, WIS. — The Dickman Co. Inc./CORFAC International has brokered the sale of a 14,800-square-foot industrial building in Sturtevant, about 30 miles south of Milwaukee. The building is located at 3012-3014 S. Sylvania Ave. Robert A. Gleason purchased the property from Wayne and Mardell Fuller Trust. Cale Berg, Zach Noble, Samuel M. Dickman Jr. and Samuel D. Dickman of the Dickman Co. brokered the transaction.
SANFORD, FLA. — Cushman & Wakefield has closed the sale of North Park Commerce Center, a two-building, 117,600-square-foot distribution campus located at 3800 and 3830 Enterprise Way in Sanford, a northern suburb of Orlando. Mike Davis, Michael Lerner and Rick Brugge of Cushman & Wakefield represented the seller, Atlanta-based McDonald Development Co., in the transaction. Boston-based Cabot Properties acquired the Class A property, which was 90 percent leased at the time of sale, for $10.4 million.
SAN FRANCISCO — TH Real Estate has purchased a 59,868-square-foot creative office building in the South of Market (SoMa) neighborhood of San Francisco for an undisclosed price. The building is located at 539 Bryant St. The property was originally built in 1912 as a warehouse facility. It was converted to creative office space in 1983. The building is fully occupied by tenants like HoneyBook, Life360, Sauce Labs, HKS Architects and Gigwalk. TH Real Estate is an affiliate of Nuveen, the investment management arm of TIAA.
BROWNSVILLE, TEXAS — Marcus & Millichap has closed the sale of Sunrise Plaza, a 35,972-square-foot shopping center situated on 2.9 acres at 2451 Pablo Kisel Blvd. in the south Texas border town of Brownsville. At the time of sale, the property was 100 percent occupied by triple net leased tenants such as Mattress Firm, Nutrishop and Shenanigan’s Irish Pub. Philip Levy of Marcus & Millichap marketed the property on behalf the seller, an unspecified developer.
