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Terreno details Q1 industrial asset buys, sales; Hudson Pacific unloads Calif. R&D building for $19M


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Terreno details Q1 industrial asset buys, sales; Hudson Pacific unloads Calif. R&D building for $19M

This feature rounds uprecent property news from covered companies and highlights larger deal coveragealready published.

* Terreno RealtyCorp. said April 12 that it purchased four industrial assets for about$27.0 million and sold two such properties for roughly $16.4 million during thefirst quarter.

The acquired properties comprise buildings spanning about 125,000square feet and an improved land parcel, all of which were fully leased to singletenants at acquisition.

The company paid an estimated $6.5 million for a roughly 35,000-square-footbuilding at 4930 3rd Seattle, about $5.3 million for a building comprising about 30,000 square feetat 221 Michele in South San Francisco and approximately $6.0 million for a roughly60,000-square-foot facility at 12950 SW South River in Medley, Fla. The land parcel,which covers about 4.5 acres of paved land at 901 North in Elizabeth, N.J., waspurchased for roughly $9.3 million.

Meanwhile, the two industrial assets divested during the quarterare Fortune Qume, a roughly 72,000-square-foot flex/R&D industrial buildingin San Jose, Calif., and Global Plaza, a 69,000-square-foot facility in Sterling,Va., both of which sold for about $8.2 million each.

* Hudson PacificProperties Inc. said April 12 that it offloaded its research and developmentoffice building in Santa Clara, Calif., in an all-cash, off-market transaction worth$19 million, before certain credits, prorations and closing costs. Sold to a KTProperties Urban Inc. affiliate, the property at 3055 Patrick Henry Drive was originallyacquired by Hudson Pacific as part of its San Francisco Peninsula and Silicon Valleyportfolio deal with .

* A Strategic StorageGrowth Trust Inc. subsidiary on April 12 inked a deal to sell a self-storagefacility with industrial warehouse/office space in San Antonio for roughly $16.1million, less closing costs and disposition fees. The sale is subject to variouscontingencies and expected to close by the fourth quarter, according to an April13 filing.

* Marcus Corp.unit Marcus Theatres expanded its theater portfolio in Illinois with the acquisitionof the 85,000-square-foot CountryClub Hills Cinema at 4201 W. 167th St. The theater building, which has16 screens and sits on a 16.9-acre lot, will undergo extensive renovations beforea targeted relaunch later in 2016, according to an April 12 release.

* RioCan Real EstateInvestment Trust said April 13 that its Fifth and Third East Villageproject with Embassy BOSA in downtown Calgary, Alberta, was scheduled to commenceconstruction later the same day, with a targeted completion in 2019. The projectwill rise on a 2.8-acre site in the East Village area.

The project's roughly 188,000-square-foot retail portion willbe fully owned by RioCan, and the residential component will be Embassy BOSA's responsibility.The REIT said it agreed to a firm sale with the developer, Embassy BOSA Inc., forthe air rights above the site's commercial component.

* Regency CentersCorp. said April 13 that it has completed the installation of more than750 kW of rooftop solar photovoltaic systems at two properties in California — PersimmonPlace in Dublin and East Washington Place in Petaluma. The combined systems compriseabout 2,500 modules, with more than 1.2 million kWh of electricity expected to beproduced per year. The company worked with SoCore Energy and some other retail partnerson the project, according to a release.

Additional coverage:

Report: SL Green,partner seek buyers for 3-building NYC property: A full sale of thebuildings could rake in roughly $450 million, sources told The Real Deal.

Rexford to acquireSoCal industrial portfolio in $191M deal: The company launched a publicoffering of 9.0 million shares of common stock in connection with the deal.

Wheeler REIT buys$71M 14-property portfolio, updates FY AFFO outlook: The portfolio comprisesgrocery-anchored assets in South Carolina and Georgia.

Equity Commonwealthsells Milwaukee property for $60.5M to Associated Banc-Corp: The 28-story,373,669-square-foot office building is at 111 E Kilbourn Ave.

Loblaw, ChoiceProperties to invest C$1.3B in retail business in 2016: The Canadianfood retailer will invest approximately C$1 billion into its business, with therest invested by Choice Properties.