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HOUSTON-Triple Net Properties assembles about a dozen investors to acquire the Wolf Pen Plaza in College Station, a Houston listing that drew a bevy of bidders for the 95%-occupied center. Its location, says the broker, is the best in town.
ATLANTA-Savannah-based ANS Logistics Georgia opens a 125,000-sf East Coast distribution center in Crossroads Park, just southwest of the Savannah River, off I 95. The build-to-suit facility, owned by the Savannah Economic Development Authority, is 45% occupied.
EL PASO, TX-The borrower transitions an acquisition and rehab loan for the 28-year-old Park Ridge Apartments into permanent financing. The 10-year loan was signed at an interest rate of about 6%.
OAKLAND, CA-After outbidding the City of Oakland for a 174-acre property in the Oakland Hills, the Greater St. Paul Baptist Church seems to be having trouble with coming up with the necessary $22.5 million.
ORLANDO-After a year of negotiations, Orange County has officially acquired a 1,334-acre portion of rancher Steve Holland's 5,254-acre property for $3.75 million or $2,811 per acre (six cents per sf). Holland had asked for $4 million or $3,048 per acre (seven cents per sf).
SPRINGFIELD, NJ-The Pennsylvania-based REIT adds two buildings here, and a retail building and adjacent development site in South Jersey to bring its portfolio of 11.6 million sf.
OXNARD, CA-The Palo Alto, Calif.-based real estate investment trust acquires the 119-unit, 22-building property from a private investor and plans major renovations. The units were 95% occupied at the time of the sale.
LAKEWOOD, CO-The 40,217-sf, state-of-the art X Games Skatepark is part of the 1.2 million-sf Colorado Mills, which opens in this city 10 miles west of Downtown Denver next month.
AUSTIN-Bill Hart's confidence in Austin's north submarket pushes the acquisition of the West Anderson Plaza at 2438 Anderson Lane. In a 1031 Exchange, he uses the proceeds from a land sale to Lowe's to buy the center from an Austin partnership.
GLENVIEW, IL-An Atlanta-based subsidiary of the British Six Continents Hotels Inc. has started work on two extended-stay hotels in Chicago's north suburban market, in nearby Lincolnshire as well as here.