COLTON, CALIF. — Progressive Real Estate Partners has arranged the $1.9 million sale of Bluffs Crossing, a 6,167-square-foot retail property located at 1231 E. Washington St. in Colton, Calif. Greg Bedell of Progressive represented the seller, a Sherman Oaks-based private investor, in the transaction. Fred Furey, an independent Huntington Beach-based broker, represented the buyer, a Chino Hills-based private investor. Tenants at the center include Premier Insurance, U-Haul and Pizza Q.
LAS VEGAS — In-N-Out Burger will open a new location in The LINQ Promenade, Caesars Entertainment’s open-air shopping, dining and entertainment district located at the center of the Las Vegas Strip. It will be the fast-food company’s first location on the strip. The LINQ Promenade was the first open-air space in Las Vegas that offered a shopping, dining and entertainment district to guests with many first-to-the-market outlets, according to the developer.
PORTSMOUTH, N.H. — Giri Hotels has acquired Hampton Inn Portsmouth Central located at 99 Durgin Lane in Portsmouth. Mercury Investment Co. sold the 125-room property for an undisclosed sum. The acquisition was financed by Kennebuck Savings, a full-service mutual savings bank. The hotel features complimentary guest breakfast, shuttle service, an indoor pool and whirlpool, sports courts, fitness room, business center and hospitality room. Denny Meikleham and Alan Suzuki of HFF represented the seller in the transaction.
PHOENIX — AFS Technologies has renewed its lease for office space at Park One in Phoenix. The Class A space is located at 2141 E. Highland Ave., within the Camelback Corridor. It was built in 1982 and renovated in 2014. The retail and supply chain solutions company uses this space as its corporate headquarters. It has occupied the building since 2007. Craig Coppola and Bill Blake of Lee & Associates represented AFS. Matthew Kaufold of the same firm represented the landlord, McCarthy Cook & Co., in this transaction.
WATERLOO, IOWA — HREC Investment Advisors has brokered the sale of a 79-room Holiday Inn Express in Waterloo, approximately 60 miles northwest of Cedar Rapids, for an undisclosed price. The hotel, located at 2127 La Porte Road, features a business center, fitness center, complimentary breakfast and indoor pool. The buyer and the seller were undisclosed. Ted Anka of HREC represented the seller in the transaction.
RIVERSIDE, CALIF. — CBRE has arranged the $43.9 million sale of University Village, a 180,681-square-foot, movie theater-anchored shopping center located in Riverside. University Village is located near the University of California at Riverside campus, and serves as the primary commercial area for the college. Philip Voorhees, Todd Goodman, Jimmy Slusher, Megan Wood, Matt Burson, Brad Rable, and Kirk Brummer of CBRE represented the seller, a Los Angeles-based partnership, in the transaction. A China-based private investor acquired the property.
NEWPORT BEACH, CALIF. — Kenneth Brown Salons has signed a lease for 4,000 square feet of retail space at 2700 W. Coast Highway within Mariners Mile Square in Newport Beach. The 10-year lease begins in May. Rick Turner of DAUM Commercial represented the tenant, while Ned McCune of Mariners Mile Co. represented the landlord in the transaction.
REVERE, MASS. — Logan Hospitality Associates LLC, a division of KW Development, has completed the sale of Four Points by Sheraton Boston Logan Airport, located at 427 Squire Road in Revere, for an undisclosed sum. Fingerprint Hospitality LLC was an advisor to and an investor in the undisclosed buyer. Situated on 3.3 acres, the property features 180 guest rooms, 3,755 square feet of meeting space, an indoor pool and fitness room. Driftwood Hospitality will manage the property. Denny Meikleham and Alan Suzuki of HFF represented the seller in the transaction. Lauren O’Neil, also of HFF, secured a three-year, floating-rate acquisition loan through TIAA Direct, a division of TIAA-CREF Trust Co., for the buyer.
EL PASO, TEXAS — A business unit of Stockholm, Sweden-based Electrolux Group has leased 409,180 square feet of industrial space in El Paso. BH Properties bought the 655,000-square-foot building from Electrolux in 2009 and leased it back to the company until February of 2014. The property is located at 9600 Pan American Drive. Terms of the five-year lease were not disclosed. Cushman & Wakefield | PIRES International’s Brett Preston and David Hingst were the brokers for the transaction. Champlain Cable Corp. occupies 117,000 square feet in the building, and 128,000 square feet is unoccupied. Electrolux also operates a manufacturing facility across the border from El Paso in Ciudad Juarez.
GURNEE, ILL. — Avison Young has arranged a 213,000-square-foot lease for Handi-foil in Gurnee, approximately 40 miles northwest of Chicago. The building, located at 5650 CenterPoint Court, sits inside the Grand Tri-State Business Park. Built in 2005, the property features 32-foot clear heights and 9,800 square feet of office space. The building will be an expansion for Handi-foil, a manufacturer of recyclable aluminum products, based in Wheeling, Ill. Brett Kroner, Keith Puritz and Eric Fischer of Avison Young represented the tenant in the transaction. Ryan Bain and Zach Graham of CBRE represented the landlord, CenterPoint Properties.
