sales_and_leases

Berkeley Land Co. Sells 36,607 SF Retail Center in Houston’s Westchase District

by Katie Sloan March 8, 2016

HOUSTON — Berkeley Land Co. has sold Briar Lake Village, a 36,607-square-foot, two-level retail center located in Houston’s Westchase District. The center, located at 10455 Briar Forest Drive, is 85 percent leased to 12 tenants including Palazzo’s Trattoria, Subway, Tiff’s Treats, Moderno, Newmark Homes, Advanced Orthodontics, Capital One Bank, Comerica Bank, Kolache Factory and Luchi & Joey’s. Rusty Tamlyn and Ryan West of HFF represented the seller, and Todd Casper and Michael Hassler of CBRE represented the buyer, Briar Lake Village Inc., in the transaction.

March 8, 2016

Marcus & Millichap Arranges Sale of 18,582 SF Retail Property in Suburban Houston

by Katie Sloan March 8, 2016

SPRING, TEXAS — Marcus & Millichap has arranged the sale of Spring Crossing Retail Center, a 18,582-square-foot shopping center located in the Houston suburb of Spring. The asset had a list price of $4.1 million. Nate Newman of Marcus & Millichap represented the seller, a local developer, and Allen Smith of Marcus & Millichap represented the buyer, a TIC partnership, in the transaction.

March 8, 2016

Industrial Texas

Transwestern Brokers Sale of 3,050 SF Industrial Building Near Fort Worth

by Katie Sloan March 8, 2016

FOREST HILL, TEXAS — Transwestern has arranged the sale of a 3,050-square-foot industrial building located at 5901 Parker Henderson Road in the Fort Worth suburb of Forest Hill. Todd Hawpe of Transwestern Dallas represented the buyer, Adder Minnis LP, and Chris Mendez of Coldwell Banker Commercial Alliance DFW represented the seller, local investor Jennifer Pool, in the transaction.

March 8, 2016

Office Retail Texas

ECR Arranges Sale of 18,732 SF Office and Retail Center in Suburban Austin

by Katie Sloan March 8, 2016

DRIPPING SPRINGS, TEXAS — Equitable Commercial Realty (ECR) has arranged the sale of Spring Bluff Center, a 18,732-square-foot office and retail property located at 400 Highway 290 in the Austin suburb of Dripping Springs. Rebecca Zigterman and Matt Levin of ECR represented the undisclosed seller, and Craig and Kristen Van Engelen of Realty Austin represented the buyer, Caissa Properties, in the transaction.

March 8, 2016

Multifamily New York Northeast

Hodges Ward Elliott Brokers $140M Bronx Multifamily Portfolio Sale

by Amy Works March 7, 2016

NEW YORK CITY — Hodges Ward Elliott has brokered the sale of a 38-building multifamily portfolio in the Bronx. Harbor Group International in partnership with Emerald Equities and York Capital acquired the 1,000-unit asset for $140 million. The portfolio is comprised of several clusters of walk-up, mixed-use buildings spread throughout Bronx neighborhoods, including Mott Haven, Hunts Point, Lower Concourse, Little Italy, Belmont, Fordham and Bedford Park. The acquisition is Harbor Group’s first multifamily purchase in the Bronx market, a significant addition to the company’s $3.5 billion real estate portfolio of multifamily, office, hotel and retail properties. Daniel Parker, Will Silverman and Paul Gillen of Hodges Ward Elliott represented the undisclosed seller in the transaction.

March 7, 2016

North Carolina Office Southeast

Dilweg Sells Two Office Buildings in Charlotte for $46.5M

by John Nelson March 7, 2016

CHARLOTTE, N.C. — The Dilweg Cos. has sold One and Two SouthPark Center in Charlotte’s SouthPark office submarket for $46.5 million. The buyer is CCP Commercial Real Estate, a private real estate investment firm based in Virginia Beach, Va. Dilweg purchased the properties in 2013 for $33.5 million. Built in 1973 and renovated in 2008, One SouthPark Center is located at 6060 Piedmont Row Drive S. The 10-story, 147,000-square-foot office building was 96 percent leased at the time of sale. Built in 1980 and renovated in 1992 and 2009, the five-story, 95,000-square-foot Two SouthPark Center was 95 percent leased at the time of sale.

March 7, 2016

California Retail Western

ACI Apartments Brokers $2.5M Sale of Retail Property in Talmadge

by Nellie Day March 7, 2016

TALMADGE, CALIF. — ACI Apartments has arranged the sale of a retail strip center located at 4412 Euclid Ave. and 4746 El Cajon Blvd. in Talmadge. San Diego-based Talmadge Gateway LP acquired the asset from La Mesa, Calif.-based Alessio Leasing Corp. for $2.5 million. The three-parcel property totals 35,183 square feet of retail space. Ricardo Lopez and Keith Courtney of ACI Apartments represented the seller and buyer in the transaction.

March 7, 2016

Retail Texas

M&M Arranges Sale of Grocery-Anchored Shopping Center in Dallas

by Katie Sloan March 7, 2016

DALLAS — Marcus & Millichap has arranged the sale of Plaza De Oro, a 93,939-square-foot, grocery-anchored shopping center located in Dallas. Matthew Sheard and Kelsie Vogds of Marcus & Millichap represented the seller, the Dallas-based developer of the project, and Philip Levy of Marcus & Millichap represented the undisclosed buyer in the transaction. The terms of the sale were not released. El Rancho Supermercado anchors the center, located at 4490 W. Jefferson Blvd. Other tenants at the center include Chilito’s, Dollar Tree, Clinicas Mi Doctor, Pizza Patrón, Rent-A-Center, State Farm and TitleMax.

March 7, 2016

Healthcare Office Texas

M&M Arranges Sale of 66,090 SF Tract of Land in Houston

by Haisten Willis March 7, 2016

HOUSTON — Marcus & Millichap has arranged the sale of Houston Medical Center Land, a 66,090-square-foot tract of land located in Houston. Gus Lagos and Evan Altemus of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, an individual/personal trust. Houston Medical Center Land is located on Holly Hall Street.

March 7, 2016

Illinois Midwest Multifamily

Origin Investments, Randolph Street Realty Capital Sell 73-Unit Apartment Property for $35M

by Christina Cannon March 7, 2016

CHICAGO — Origin Investments and Randolph Street Realty Capital have sold a 73-unit apartment building in Chicago’s West Loop for approximately $35 million. Lux24, located at 24 S. Morgan St., was formerly known as Pure Condominiums. The duo acquired the failed condominium project in 2013, and at the time only 38 of the condos were completed and only four had been sold. Lux24 now features amenities such as a fitness center, clubroom, outdoor terraces with fire pits, on-site dry cleaning and shoe repair services, a secure package room and bike storage. Unit amenities include stainless steel appliances, in-unit washers and dryers, granite countertops and floor-to-ceiling windows. Danny Spitz of Baum Realty represented the buyer, a private investor, in the transaction.

March 7, 2016

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