BURLESON, TEXAS — Golden Chick has opened a new location at Burleson Commons. The property is located at the intersection of Wilshire Boulevard and FM 731 in Burleson. Golden Chick joins the new Kroger, which opened last month. Cullinan Properties, headquartered in Peoria, Ill., owns and manages Burleson Commons. SRS Real Estate’s Dallas/Fort Worth office represented Cullinan in the sales transaction. First opened in the late 1960’s in San Marcos, Golden Chick is a chain of franchise restaurants in the south and southwest United States with more than 150 locations. The chain’s flagship menu item has been its Golden Tenders, which are marinated, hand-battered chicken tenderloins.
BOSTON — Related Beal has broken ground for Parcel 1B, a mixed-use, transit-oriented development across the street from Lovejoy Wharf in Boston. Designed by CBT Architects, the project will include a 14-story residential building totaling 484,000 square feet with street-level retail and on-site parking, and a 220-room Courtyard Marriott hotel with 2,500 square feet of meeting space, which will be operated by Turnberry Associates. The residential building will feature 239 affordable units that will be restricted to individuals, couples and families with qualified incomes ranging from 30 percent area median income (AMI) to up to 165 percent AMI. The project is slated for delivery in 2018.
PLANO, TEXAS — Yeager has broken ground on a 48,300-square-foot mixed-use development in Plano known as Yeager at Rasor Pointe. The Indiana-based developer expects to complete the project, which includes 39,750 square feet of office suites and 8,550 square feet of retail and restaurant space, by early August. The property will be located on a 3.8-acre lot at the northeast corner of Rasor Boulevard and Ohio Drive.
VIRGINIA BEACH, VA. — The U.S. Naval Facilities Engineering Command in Norfolk has awarded Hourigan-Sundt a $36 million contract to design, construct and renovate an Explosive Ordnance Disposal Consolidated Operations Complex in Virginia Beach. The 150,000 project will be situated within the Joint Expeditionary Base Little Creek-Fort Story. The facility will provide space for operations, logistics, storage and administrative support services. Hourigan-Sundt, a joint venture between Hourigan Construction and Sundt Construction Inc., expects to break ground on the project in mid-2016. Completion is slated for October 2018. Sundt has five other construction projects with the Navy, including the Camp Johnson Bachelor Enlisted Quarters at Camp Lejeune, N.C.
LAS COLINAS, TEXAS — Skanska has signed a $94 million contract with the ARK Group of Charlotte, N.C., to build the Irving Music Factory in Las Colinas. Skanska will convert the existing 16.8-acre greenfield site into an entertainment destination. The new project will include an 8,000-seating capacity indoor/outdoor concert hall called the Pavilion operated by Live Nation. The venue includes seven buildings offering more than 250,000 square feet of entertainment, retail and restaurant space and an eight-screen Alamo Drafthouse Cinema. Additionally, there will be a four-story, 100,000-square-foot office tower sitting atop a six-level, 1,200-space parking garage. The project also features a 50,000-square-foot plaza and four outdoors stages. The venue is designed to host a variety of events, including music performances, fashion shows, farmers markets and food festivals throughout the year. Gensler is the architect for the project. Construction for the venue is expected to commence this month and is slated for completion in June 2017.
NEW YORK CITY — Cushman & Wakefield has arranged the sale of two properties located at 126-128 E. 13th St. and 123 E. 12th St. in Manhattan’s East Village neighborhood. Ultimate Realty sold the properties to an undisclosed buyer for a total of $21.5 million. The 15,600-square-foot property on 13th Street is currently leased by Peridance, a dance studio, until March 2028 with a five-year option, while the 4,804-square-foot property on 12th Street features ground-floor retail space and a three-bedroom duplex apartment with a private rooftop on the upper floor. James Nelson and Matthew Nickerson of Cushman & Wakefield represented the seller in the transaction.
SAVANNAH, GA. — Colliers International’s Savannah office has brokered the $7.9 million sale of the iconic Realty Building in historic downtown Savannah. Built in 1921, the 10-story, 55,560-square-foot building is located at 24 Drayton St. The mixed-use property features ground-floor retail space leased to Rivers & Glen Trading Co. and Ameris Bank, as well as office space throughout the remainder of the building. The Realty Building was 95 percent leased at the time of sale. Ashley Smith of Colliers represented the seller, SCG II-Drayton LLC, in the transaction. Smith also leased the building on behalf of the previous owner. The buyer, 24 Drayton Street Properties LLC, was self-represented.
NEW YORK CITY — Thor Equities has acquired a 55,000-square-foot mixed-use property located at 556-566 W. 126th St. in Harlem for an undisclosed price. The six-story property features 58 apartments and five commercial units with more than 100 feet of retail frontage. Additionally, the property is adjacent to the new $7 billion, 17-acre expansion of Columbia University and in close proximity to Morningside Park, Barnard College, Teachers College and Columbia’s main campus. The name of the seller was not released.
GRAYSLAKE, ILL. — Quantum Real Estate Advisors Inc. has arranged the $1.3 million sale of a mixed-use building in Grayslake, approximately 48 miles northwest of Chicago. The 33,544-square-foot building consists of 24,239 square feet of retail space on the first floor and 9,305 square feet of office space on the second floor. Tenants of the building, which is 70 percent occupied, include Kawa Japanese Restaurant, Tropical Tan and State Farm Insurance. A Canada-based money center bank sold the asset, located at 100 S. Atkinson Road, to a private investor based in the northern suburbs of Chicago. Chad Firsel of Quantum Real Estate Advisors represented the seller in the transaction.
NEW YORK CITY — Eastern Consolidated has arranged the sale of a mixed-use property located at 507 Myrtle Ave. in Brooklyn’s Clinton Hill neighborhood. Klosed Properties acquired the property from 507 Myrtle LLC for $3.2 million. The three-story, 3,762-square-foot property consists of two retail stores and four apartments. Additionally, the property offers 10,000 square feet of buildable square feet for future development. Akil Rossi of Eastern Consolidated represented the seller and buyer in the off-market deal.