TUCSON- Hamilton Zanze & Company has acquired the 144-unit Oracle Village from local seller HSL Properties. The buyer obtained the class B asset for $9 million.
According to a press release from the San Francisco-based Hamilton Zanze, the asset at 5921 N. Oracle Rd. provided an ideal opportunity to grow its southwest portfolio. “Oracle Village offers a unique reposition opportunity that will allow us to compete with class A assets in terms of amenities and overall experience, except at a lower rent to tenants," comments acquisitions director David Nelson in the release. "Since 2010, our Arizona portfolio has seen steady improvement in operations, including occupancy, rental increases, and concession elimination. We look for this trend to continue.”
Hamilton Zanze owns 17 apartment complexes in Arizona for a total of 3,629 units. The company owns, overall, approximately 15,000 units in nine western states. Oracle Village is Hamilton Zanze's 11th multifamily purchase in the last 12 months, bringing total acquisitions since inception to more than $1.5 billion.
ACQUISITIONS/DISPOSITIONS
TEXAS
Frisco
- Core Capital Group LLC purchased a 7,200-square-foot retail strip center at the southwest corner of Farm-to-Market 423 and Lebanon Rd. Gavin and Brad Kam of Net Realty Advisors represented the seller, Uptown Enterprises in this direct deal.
Houston
- Morrison Kartsen Group sold the 68,300-square-foot 4545 Post Oak Place Dr. to a buyer represented by Neil Martin and Mike Sperandio of the Finial Group. Logan Brown Investment Real Estate LLC represented the seller.
LEASING
ARIZONA
Gilbert
- Youth American Dance Academy leased 2,800 square feet at Gilbert Fiesta II, a neighborhood center at 195 E. Williams Field Rd. Peter McQuaid, Greg Vanlerberghe and Erin Schrauth of Sperry Van Ness represented the landlord.
Mesa
- Lab Tattoo and Body Piercing leased 978 square feet at 2950 S. Alma School Rd. Peter McQuaid, Greg Vanlerberghe and Erin Schrauth of Sperry Van Ness represented the landlord.
- Sperry Van Ness' Michael Franks represented Miracle Ear in a 1,400-square-foot lease at the Fry's Marketplace, 1863 N. Stapley Dr.
Phoenix
- Arizona Health Advantage signed a 4,482-square-foot lease at 2423 W. Dunlap Ave.. Justin Horwitz with Sperry Van Ness represented the tenant in the transaction.
Scottsdale
- Kercsmar & Feltus PLLC signed a 10-year, 13,235-square-foot lease to relocate the law firm to the office building at the 120,000-square-foot Scottsdale Fashion Square, 7150 E. Camelback Rd. Chris Latvaaho of Cushman & Wakefield of Arizona Inc. represented the owner, Macerich. David Verwer with Commercial Properties, Inc. represented Kercsmar & Feltus in the transaction.
TEXAS
Arlington
- Mary's House leased 7,572 square feet at 400 N. East St. Theron Bryant with SCM Real Estate Services represented the landlord in this transaction, and Cameron Tapley with Swearingen represented the tenant.
- Sommerville & Associates leased 5,735 square feet at 3030 Matlock Rd. Daniel Rudd, Bill Vahrenkamp and Jennifer Bentley with Colliers International represented the tenant. John Lancaster with NAI Robert Lynn represented the landlord, Affiliated Bank.
Austin
- Transcend Capital LLC renewed 2,840 square feet at 6500 River Place Blvd. Bldg IV. Darren Quick represented the tenant. Casey Ford and Troy Holme with CBRE represented the landlord, Metropolitan Life Insurance Co.
Will Nichols and Sam Owen with Stream Realty Partners represented the landlord in the following deals:
- Yarbrough Southwest Associates Inc. in a 7,982-square-foot lease at 1905A Kramer Lane.
- Cirrus Logic Inc. in a 9,063-square-foot lease at 2020 St. Elmo Rd.
- Fisk Electric Co. in a 2,944 square-foot lease at 800 Paloma Dr.
- Meridian World School Inc. in a 17,961-square-foot expansion at 2555 N. Interstate 35.
- S-L Distribution Company Inc., in a 19,020-square-foot least at 8026 Exchange Dr.
- NextScreen LLC in a 4,020-square-foot lease at 8868 Research Blvd. and Fine Line Commercial LLC in a 2,119-square-foot lease at the same address.
- Accu-Tech Corp. in a 16,022-square-foot lease at 1421 W. Wells Branch Pkwy.
- Valspar Corp. in a 2,322-square-foot expansion at 2120 W. Braker Lane
- Merrill Technologies, Inc. in a 10,800-square-foot lease at 11000 N. MoPac Expy.
Brad Philp of Stream Realty represented the landlord in a 3,633-square-foot lease with Lattice at 9442 Capital of Texas Hwy.
Philp and Stream's Lance Sallis represented the landlord in a 6,108-square-foot lease with Backwoods Retail Inc. at 3300 N. Interstate 35
Philp and Stream's Edvin Beasley represented the landlord in the following negotiations:
- A 744-square-foot lease with NSS at 400 W. 15th St.
- A 2,599-square-foot lease with Signature Capital at 9600 N. MoPac Expy. And a 2,695-square-foot lease with Cummings Baccus at the same address.
- A 3,162-square-foot lease with Six Red Marbles at 11044 Research Blvd.
Stream Realty's Bryan Dabbs represented the landlord in the following transactions:
- A 1,075-square-foot lease with Inspire at 1000 E. 41st St., and a 2,471-square-foot lease with Freebirds at the same location.
- A 6,400-square-foot lease with Car Quest at 3110 South Lamar.
Stream Realty's Ryan Ridgeway represented the landlord in the following leases:
- A 1,506-square-foot lease with Buda Sports at 3310 Farm-to-Market 967; and a 1,506-squre-foot lease with D'Ette & Co Dancers Inc. in the same location.
- A 1,249-square-foot lease with Black Orchid at 3801 S. Congress St.
- A 1,795-square-foot lease with Texas State Optical at 2410 E Riverside Dr.
- An 1,800-square-foot lease with Gamefellas at 5510 S. Interstate 35.
Coppell
- Electronic Output Solutions Inc. leased 7,515 square feet of warehouse space at 989 W. Sandy Lake Rd. from H2C Enterprises Inc. Erik E. Blais with Bradford Commercial Real Estate Services represented the landlord in the direct deal.
Dallas
- Placemark Investments Inc. leased 25,859 square feet at 16633 N Dallas Pkwy. from SCG/CP One Hanover Park, LLC c/o Cawley Management LLC. John Dolan with McCall & Almy and Charlie Morris and Hunter Blanks with Colliers International represented the tenant. Todd Ratliff and Jeremy Duggins with Cawley Partners represented the landlord.
- Solomon Associates, has leased 28,860 square feet of office space in One Lincoln Centre at 5400 LBJ Fwy. (Interstate 635). and will be moving its worldwide headquarters to the North Dallas property in June 2013. Matt Heidelbaugh, Billy Gannon and Bob Edge from the Dallas office of Cushman & Wakefield of Texas, Inc. represented Solomon in the site selection and lease negotiations, along with Bob Kelly from Cushman & Wakefield's Hartford, Connecticut office. Mark Dickenson, Matt Schendle and Meredith Durham of Cushman & Wakefield of Texas Inc. represented Lincoln Centre in the transaction.
Farmers Branch
- TexasLending.com leased an additional 11,763 square feet at The Centre, 4100 Alpha Rd. The mortgage company now has 79,153 square feet at the property. Todd Noonan with Stream Realty Partners provided tenant representation for TexasLending.com. Seth Thatcher with CASE Commercial Real Estate Partners represented the landlord, Daltex Centre LP.
Grand Prairie
- Accurate Research Inc. renewed 8,400 square feet of industrial flex space in One Paddock Place, 2214 Paddock Way. Jim Ferris and Michael Spain of Bradford Commercial Real Estate Services represented the landlord in the direct deal.
- All American Hardwood Inc. leased 15,820 square feet at 726 Avenue R from Tarrant County Properties. Corby Hodgkiss with the Mercer Co. represented the tenant. Phil Rosenfeld and Matt Thompson with Colliers International represented the landlord.
- Robert H. Severence Co. Inc. renewed 6,300 square feet of industrial flex space in Trinity West Business Park Building 1, 2550 114th St. Michael W. Spain and Jim Ferris with Bradford Commercial Real Estate Services represented the landlord in the direct deal.
Houston
- Prosin USA leased 7,600 square feet at 9145 Wallisville Rd. Jim Autenreith of Moody Rambin represented the building owner IVEST LP and the tenant in negotiations.
Hurst
- Veterans Thrift Shop leased 8,400 square feet of retail space in Village Square Shopping Center, 722 E. Pipeline Rd. from Engelsma Ltd. Erik E. Blais and Karen Simon with Bradford Commercial Real Estate Services represented the landlord in the direct deal.
Pantego
- Tuscan Villa leased 6,610 square feet at Northlake Centre, 3273 West Pioneer Pkwy. Judy Nitzinger with SCM Real Estate Services represented the landlord in this transaction.
San Antonio
- Feajhi Company LLC dba Kid to Kid leased 3,200 square feet at 11019 Culebra Rd. Graham Ketchum with CBRE was the tenant rep in the direct deal with Weingarten Realty Investors.
- Northrop Grumman Systems Corp. renewed 10,081 square feet at 900 Isom Rd. Scott Herbold with CBRE represented the tenant. Landlord Lake Investment And Production Co. Ltd. was represented by Bryan Sethney and Zach Dobin with San Antonio Commercial Advisors.
- Vitas Healthcare Corporation of Texas LP leased 18,342 square feet at 8401 Datapoint Dr. from Highpoint Towers LLC. Mike Sawtelle with CBRE represented the tenant. Christi Griggs and Kyle Gunter with Peloton represented the landlord.
EXECUTIVE MOVES
ARIZONA
Phoenix
Jerry Noble, Patrick Devine, Greg Mayer and Ashley Bourget have joined the office properties division of Cushman & Wakefield's Phoenix office.
- Noble specializes in landlord and tenant representation for sales, leasing, valuation and buyer representation of office properties, He has more than 16 years of experience in the market, having served as first vice president at CBRE and as vice president with Trammell Crow Co.
- Devine handles marketing and leasing of Class A office properties throughout the greater Phoenix area. His clients include Clarion Partners, Gilmcher Realty Trust, Lincoln Property Company and TIAA-Cref. Devine recently served as first vice president at CBRE.
- Mayer specializes in the representation of institutional and private owners of commercial office buildings. He joined Noble and Devine in 2002 at CBRE (then Trammell Crow Co.). Mayer most recently served as vice president at CBRE.
- Bourget serves as senior brokerage coordinator to the Noble/Devine/Mayer team.
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