sales_and_leases

Payson Village Center in Arizona Sells for $15M

by Nellie Day April 16, 2015

PAYSON, ARIZ. – Payson Village Center, a 140,500-square-foot, grocery-anchored center in Arizona, has sold to Progression Real Estate Investments for $15 million. The center is located at the intersection of Highway 87 and Highway 260 in Payson. It is anchored by Bashas’. Other notable tenants include Dollar Tree, Big 5, Native Grill, Jiffy Lube and Arby’s. A 250-acre Arizona State University satellite campus has been proposed just East of Payson Village. This project would bring 6,000 students, in addition to more employees and faculty, to the area. Both Progression and the seller, Hirani Oil Foundation, were represented by Christopher Tramontano and Donald MacLellan of Faris Lee Investments.

April 16, 2015

California Industrial Western

Via Frontera Business Park in San Diego Sells for $10.5M

by Nellie Day April 16, 2015

SAN DIEGO – Via Frontera Business Park, an 80,882-square-foot industrial/R&D property in San Diego, has sold to Seven C’s Group LLC, for $10.5 million. The two-building property is located at 10965-10993 Via Frontera Drive. It was built in 1982. The buildings are 41 percent occupied. The buyer plans to occupy a portion of the space. Notable employers in the area include Microsoft, General Atomics, BAE Systems, Sony and HP. The seller, GCCFC 2007-GG9 Diamond Office LP, was represented by Mark McEwen, Ted Cuthbert and Matt Zimsky of Colliers International.

April 16, 2015

Multifamily Seniors Housing Texas

HFF Arranges Sale of 129-unit Houston Community

by Haisten Willis April 16, 2015

BAYTOWN, Texas — Dallas-based lender HFF has closed the sale of Remington Park at Baytown, a 129-unit independent and assisted living community. HFF marketed the property on behalf of the unnamed seller. Capital Senior Living purchased the asset for an undisclosed amount. Remington Park at Baytown is located at 901 West Baker Road in Baytown, a suburb approximately 25 miles east of downtown Houston. Expanded in 2008, the 95-percent-occupied property has a mix of nine independent living cottages and 120 assisted living units. The HFF team representing the seller was led by managing director Ryan Maconachy and director Chad Lavender.

April 16, 2015

Arizona Retail Western

TEMK Investments Fremont Buys Tempe Starbucks

by Nellie Day April 16, 2015

TEMPE, ARIZ. – TEMK Investments Fremont LLC has acquired a 1,850-square-foot Starbucks in Tempe for an undisclosed sum. The coffee shop is located at 1926 North Scottsdale Road. It contains a drive-thru. TEMK was represented by DTZ’s Jon Stansbury. The seller, SWC Scottsdale & McKellips LLC, was represented by Andy Kroot of Velocity Retail Group.

April 16, 2015

Industrial South Carolina Southeast

Lyons Industrial Properties Brokers $3.3M Sale of 208,000 SF Industrial Facility in Gaffney

by John Nelson April 16, 2015

GAFFNEY, S.C. — Lyons Industrial Properties has brokered the sale of a 208,000-square-foot industrial facility located at 805 Victory Trail Road in Gaffney. The property is leased to Suminoe Textiles of America, a textile distributor to the automotive industry. Bobby Lyons of Lyons Industrial Properties represented the seller, Anderson Family Associates, in the transaction. Reger Holdings purchased the asset for $3.3 million.

April 16, 2015

New Jersey Northeast Retail

The Azarian Group Acquires The Shoppes at North Brunswick in New Jersey

by Amy Works April 16, 2015

NORTH BRUNSWICK, N.J. — CBRE Group has arranged the sale of The Shoppes at North Brunswick, a shopping center located along Route 1 North Brunswick. A New York-based private equity firm sold the 150,000-square-foot property to Shoppes at North Brunswick LLC, an entity controlled by The Azarian Group, for an undisclosed price. The center is 94 percent leased to a mix of tenants, including Anthropologie, Banana Republic, Five Below, Talbots, NY & Company, Ann Taylor Loft, Charming Charlie, Corner Bakery Café, SuperCuts and Wingstop. Additionally, the retail and office property has 10,000 square feet of space available. Jeffrey Dunne, Casey Rosen, David Gavin and Dennis Carson of CBRE represented both parties in the transaction.

April 16, 2015

Massachusetts Northeast Retail

CBRE/NE Arranges $97M Sale of White City Shopping Center

by Amy Works April 15, 2015

SHREWSBURY, MASS. — CBRE/New England has arranged the sale of White City Shopping Center located in Shrewsbury. A joint venture between Charter Realty & Development and Acadia Realty Trust sold the property for $97 million. The 260,000-square-foot retail center is fully occupied by a variety of tenants, including Shaw’s Supermarket, Petco, Dress Barn, The Paper Store, Planet Fitness and Austin Liquors. Chris Angelone, Bill Moylan and Nat Heald of CBRE/NE represented the seller and procured the undisclosed buyer in the transaction.

April 15, 2015

Office Texas

Rosemont Realty Signs Two New Tenants at Office Building in Dallas

by Haisten Willis April 15, 2015

DALLAS — Rosemont Realty LLC, a commercial real estate investment company, has signed two local tenants to leases at 9400 NCX for a combined 11,621 square feet. Camden Homes and Insurance Designers of Dallas each have committed to new leases for their respective headquarters at the 9400 NCX building, located at 9400 N. Central Expressway in Dallas. Camden Homes has consolidated three locations into the new 8,065-square-foot office space. Insurance Designers of Dallas has secured 3,556 square feet. Camden Homes is a private homebuilder in the Dallas-Fort Worth area. Insurance Designers of Dallas is part of an independent marketing organization. Stephen Holley with Jones Lang LaSalle represented the tenant in the transaction. The 16-story, 387,160-square-foot 9400 NCX building is currently undergoing a lobby and conference center renovation, to be completed this summer.

April 15, 2015

California Multifamily Western

The Enclave Apartment Complex in Los Angeles Sells for $61.1M

by Nellie Day April 15, 2015

LOS ANGELES — A joint venture between Bridge Investment Group Holdings and Starr Companies has acquired The Enclave, a 306-unit apartment complex in Paramount, for $61.1 million. The community is located at 13801 Paramount Blvd. in the Los Angeles submarket of Paramount. The Enclave was built in 1991. It is situated near four Metro lines. Notable employers in the area include the County of Los Angeles, RMI International, Kaiser Permanente, Bellflower Medical Center, St. Francis Medical Center and Lakewood Regional Medical Center. The seller, Kennedy Wilson, was represented by Greg Harris, Ron Harris, Kevin Green, Joseph Grabiec, Paul Darrow and Michael DiSimone of Institutional Property Advisors.

April 15, 2015

California Industrial Western

Gelson’s Markets Leases Space at Freeway Springs Logistics Center in Los Angeles

by Nellie Day April 15, 2015

LOS ANGELES — Gelson’s Markets has leased 248,304 square feet of space at Freeway Springs Logistics Center in the Los Angeles submarket of Santa Fe Springs. The space will serve as the market’s warehouse and distribution center. Freeway Springs is located at 13833 Freeway Drive. Gelson’s will also occupy 30,000 square feet of office space at the facility. The lease is valued at more than $20 million. The Encino, Calif.-based market will assume more than half of the center’s 463,060 square feet. Gelson’s was represented by Stephen Calhoun, Craig Stevens and Tyler Stevens of Colliers. The landlord, Freeway Springs LLC, a division of Golden Springs Development Co., was represented by Calhoun, along with Clyde Stauff and Christopher Sheehan.

April 15, 2015

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