sales_and_leases

Hanley Arranges $18.6M Sale of Retail Center in Huntington Beach

by Nellie Day March 30, 2016

HUNTINGTON BEACH, CALIF. — Hanley Investment Group has arranged the $18.6 million sale of a newly redeveloped retail center located on the corner of Brookhurst Street and Adams Avenue in Huntington Beach. Tenants at the fully occupied, 24,000-square-foot center include PetSmart, U.S. Bank, Phenix Salon, Tenet Healthcare and Orangetheory Fitness. LBG Real Estate Cos. LLC sold the property to an Orange County-based private investor. Ed Hanley, Bill Asher and Eric Vu of Hanley Investment Group arranged the sale of the property in an off-market transaction.

March 30, 2016

Arizona Office Western

Wentworth Property Co. Buys Tempe Office Building for $16.5M

by Nellie Day March 30, 2016

TEMPE, ARIZ. — Wentworth Property Co. has purchased a 228,000-square-foot office building in Tempe for $16.5 million. The building is located at 1515 W. 14th St. It was vacant at the time of sale. The buyer is undertaking significant renovations to the property. CBRE’s Barry Gabel and Chris Marchildon and JLL’s Karsten Peterson, Dave Seeger and Mark Gustin represented the seller, BF Enterprises, in this transaction. The same team will lease the property.

March 30, 2016

California Office Western

SeneGence International Leases Office Space in Foothill Ranch

by Nellie Day March 30, 2016

FOOTHILL RANCH, CALIF. — SeneGence International has leased 50,000 square feet of office space in Foothill Ranch. The new space is located at 19651 Alter. The beauty and personal care company is relocating from its current headquarters in the Irvine Spectrum. Andrew Morrow of Savills Studley represented SeneGence. CBRE’s Gregg Haly and Tyler Haly represented the landlord, Western States, in this transaction.

March 30, 2016

Arizona Retail Western

HFF Arranges $6.3M in Acquisition Financing for Grocery-Anchored Center in Mesa

by Nellie Day March 29, 2016

MESA, ARIZ. — HFF has arranged $6.3 million in acquisition financing for Marketplace at Signal Butte, a 116,358-square-foot, grocery-anchored retail center located in Mesa. Basha’s anchors the center, which is home to tenants including Big 5 Sporting Goods, Denny’s, Dollar General, Golden China, Sunrise Daycare, US Nail Spa, Edward Jones, Papa John’s Pizza and H&R Block. Greg Brown of HFF worked on behalf of the borrower, Progression REI, to place the 10-year, fixed-rate loan with Wells Fargo Bank.

March 29, 2016

Alabama Industrial Southeast

NAI Mobile Arranges 125,000 SF Warehouse Lease

by John Nelson March 29, 2016

SARALAND, ALA. — NAI Mobile has arranged a 125,000-square-foot lease for warehouse space at 252 Jacintoport Blvd. in Saraland, a suburb of Mobile. Situated within the Mobile River Industrial Park, the new facility is slated to open in April. The tenant, Danby Products, an appliance manufacturer, also plans to operate a small factory outlet retail store at the site. The company will employ 25 full-time workers once the facility is fully operational. David Dexter of NAI Mobile represented Danby Products in the lease transaction.

March 29, 2016

Hospitality Massachusetts Northeast

Rockwood Capital Sells Two Hotels in Suburban Boston for $54M

by Amy Works March 29, 2016

LEXINGTON, MASS. — Rockwood Capital has completed the disposition of two hotels: an aloft and an element, located on a 12.7-acre site at 727 Marrett Road in Lexington, a northwest suburb of Boston. An undisclosed buyer acquired the hotels for $54 million, unencumbered by management. The 136-room aloft features grab-and-go dining, the w xyz bar, an indoor swimming pool, business center, game room, fitness room, meeting room and complimentary shuttle service. The 123-room element features complimentary breakfast, an indoor swimming pool, business center, fitness room, meeting room and complimentary shuttle service. The hotels were developed in 2008 as prototypes for the Starwood brand. Denny Meikleham and Alan Suzuki of HFF represented the seller in the transaction.

March 29, 2016

Illinois Industrial Midwest

Avison Young Negotiates 190,925 SF Headquarters Lease in Chicago Suburb

by Christina Cannon March 29, 2016

LAKE BLUFF, ILL. — Avison Young has negotiated a long-term, 190,925-square-foot industrial lease in Lake Bluff, approximately 35 miles northwest of Chicago. Homewerks Worldwide, a global supplier of home and commercial plumbing and HVAC products, will move its headquarters into the 256,300-square-foot building at 45-85 Albrecht Drive. Globe Corp. is the landlord. The facility, built in 1995, is situated on 19 acres and features 28-foot clear heights, 20 dock doors and parking for 410 cars. Keith Puritz, Brett Kroner and Eric Fischer of Avison Young represented the landlord in the transaction.

March 29, 2016

California Office Western

Montana Avenue Capital Partners Buys Torrance Pointe Office Campus for $25.4M

by Nellie Day March 28, 2016

TORRANCE, CALIF. — Montana Avenue Capital Partners has purchased Torrance Pointe, a 145,280-square-foot office campus, for $25.4 million. The low-rise campus is located at 21041, 21061 and 21081 S. Western Ave. in Torrance. It is 97 percent leased to tenants like Honda Motor Company, AT&T and Hitachi Transport System. HFF’s Andrew Harper represented the seller, Amstar Capital, in this transaction.

March 28, 2016

California Retail Western

American National Investments Acquires Restaurant Building in San Diego for $2.3M

by Nellie Day March 28, 2016

SAN DIEGO — American National Investments has acquired a restaurant building located at 369 10th Ave. in downtown San Diego’s East Village neighborhood. The 4,000-square-foot asset sold for $2.3 million. The buyer plans to operate a restaurant at the two-story property. Retail Insite represented the undisclosed seller in the transaction.

March 28, 2016

11-Court-House-South-Dennis-Road-Cape-May-NJ

New Jersey Northeast Retail

Polimeni International Sells 163,629 SF Retail Center in New Jersey for $32.1M

by Amy Works March 28, 2016

CAPE MAY COURT HOUSE, N.J. — Polimeni International LLC has completed the disposition of The Plaza at Cape May Court House, a retail center located at 11 Court House South Dennis Road in Cape May Court House. An affiliate of RW Capital Partners acquired the 163,629-square-foot property for $32.1 million. At the time of sale, the property was 97.6 percent leased to a variety of national and regional tenants, including ACME Markets, Marshalls, Staples, CVS/pharmacy, Pier 1 Imports, Alfredo’s Pizza, Chopsticks Restaurants, Melini Hair Care, GNC and Payless ShoeSource. Chris Munley, Jose Cruz and Kevin O’Hearn of HFF represented the seller in the transaction.

March 28, 2016

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