RICHARDSON, TEXAS — Regency Centers Corp., an owner, operator and developer of grocery-anchored shopping centers, has closed on the land for Phase II of its CityLine Market development in Richardson. The Phase II portion is 100 percent pre-leased and will include a 12,900-square-foot CVS Pharmacy and new restaurants encompassing 9,000 square feet. The newest restaurants to join CityLine Market include Super Chix, Pho is for Lovers and Piada Italian Street Food. Super Chix’s menu includes chicken sandwiches, fries and frozen custard. Pho is For Lovers serves Vietnamese food including beef pho, tofu summer rolls and banh mi sandwiches. Piada serves Italian street. CityLine Market is anchored by Whole Foods Market, contains nearly 102,000 square feet of retail and will serve as the cornerstone of the CityLine mixed-use development. The center is 98 percent leased. The construction of Phase II is expected to start late this year.
NEW YORK CITY — Marcus & Millichap has arranged the sale of a mixed-use property located at 1208 Nostrand Ave. in Brooklyn. The 7,128-square-foot asset sold for $2.2 million. Derek Bestreich, Erik Rodriguez and Seth Schiffman of Marcus & Millichap’s Brooklyn office represented the seller, a private investor, and secured the buyer, a limited liability company, in the transaction.
MINNEAPOLIS — City Center Realty Partners LLC has signed auditing and consulting firm PricewaterhouseCoopers (PwC) to a 66,304-square-foot office lease at Plaza Seven in downtown Minneapolis. Plaza Seven is a Class A office building located in the heart of the Nicollet Mall corridor. PwC will occupy four-and-a-half floors at the top of the mixed-use tower. The office space is 335,000 square feet and sits on top of the Radisson Blu Hotel, which recently underwent a multi-million dollar renovation undertaken by City Center Realty Partners. The Radisson Hotel occupies floors 3-16 of the Plaza Seven building, with the office tower occupying floors 17-36. The first three floors of the tower are allocated for parking. The lease term is 12.5 years, and PwC will move into its new location in mid-2016. PwC has acquired naming rights to Plaza Seven and will rename the building in the coming months. The lease signing brings the building to 100 percent occupancy. Other tenants include Epsilon, Northland Securities, Haworth Marketing + Media and Jacobs Marketing. JLL represented the owner, San Francisco-based City Center Realty Partners, in the transaction. CBRE and Frauenshuh represented PwC. Angelo, Gordon & Co. served as investment advisor to City Center Realty Partners.
CHARLOTTE, N.C. — Charlotte-based Beacon Partners has purchased Park Village, a 92,222-square-foot mixed-use asset located at 1520 South Blvd. in Charlotte, for $21.7 million. Located adjacent to the LYNX light rail station in Charlotte’s South End neighborhood, the property features one floor of ground-level retail space and two stories of office space. Park Village’s tenant roster includes Aveda Institute, Beasley Media Group and Carrabba’s. Patrick Gildea led CBRE in representing the sellers, Ferncroft Capital and PRP LLC, in the transaction.
NAPLES, FLA. — HFF has brokered the $74.4 million sale of a seven-building portfolio on 5th Avenue in Naples. The portfolio totals 122,276 square feet and comprises 73,523 square feet of street-level retail space, 48,753 square feet of office space and a 1.1-acre, 115-space parking lot at the corner of 4th Avenue and 4th Street. The buildings are 86.2 percent leased, in aggregate, to tenants including Wells Fargo Bank, TD Bank, TD Ameritrade, Berkshire Hathaway Real Estate, PNC Bank, SunTrust Bank, Starbucks Coffee, Tervis Tumbler and Provident Jewelry. Hoffman Commercial Real Estate purchased the assets free and clear of existing debt. Manuel De Zarraga, Daniel Finkle, Luis Castillo and Nat Scarmazzi of HFF represented the seller, Naples Fifth Avenue Holdings LLC, in the transaction. Rod Castan of Courtelis Co., which provided leasing and management services for Naples Fifth Avenue Holdings, assisted HFF in the marketing process.
HOUSTON — HighStreet Net Lease Group, a Texas-based company specializing in the sale and acquisition of net leased investment properties, represented a Houston-based investor in the acquisition of a three-story office complex with retail on the ground floor. The 14,400-square-foot mixed-use building is located at 1305 Prairie St. in downtown Houston. Matt Moake of HighStreet represented the buyer. Fred Ghabriel of Bejjani & Associates represented the seller, a local partnership that owned the property for 30 years. The historic building was constructed in 1920 and was once the site of General Sam Houston’s home. The new owner plans to renovate the interior and exterior of the property. The property includes a surface parking lot.
NEW YORK CITY — Cushman & Wakefield has brokered the sale of a mixed-use loft building located at 9 E. 16th St. in the Ladies’ Mile Historic District of Manhattan. The seven-story, elevator-serviced building sold for $30 million, or $978 per square foot. The 30,680-square-foot property features 15 large loft units, of which 12 are fair market and three are rent stabilized, and one ground-floor commercial unit, which is currently occupied by a restaurant. Paul Smadbeck, John Ciraulo, Rob Stufano and Craig Waggner of Cushman & Wakefield brokered the all-cash transaction. The names of the seller and buyer were not released.
NEW YORK CITY — Ariel Property Advisors has arranged the sales of two properties, totaling $11.7 million, in East Harlem. In the first transaction, a private investor acquired a six-story mixed-use property located at 124-128 E. 107th St. in East Harlem for $9.1 million, or $449 per square foot. The 20,395-square-foot building contains 34 residential units, two commercial units and two superintendent units. Victor Sozio, Shimon Shkury, Michael Tortorici, Josh Berkowitz and Matthew Gillis of Ariel Property represented the seller, a private real estate firm, and procured the buyer. In the second deal, a private investor purchased a development site located at 2282 Second Ave. in East Harlem for $2.6 million, or $215 per buildable square feet. The property offers approximately 12,191 total buildable square feet for mixed-use development. Samuel Atlas, Tortorici, Sozio, Gillis and Berkowitz of Ariel Property represented the seller, a private real estate firm, and procured the buyer in the transaction.
WEST CONCORD, MASS. — Oaktree FX, a partnership between Oaktree Development and FX Investments, has opened Brookside Square, a transit-oriented, mixed-use development in West Concord. The $32 million property features 74 luxury apartments and 36,000 square feet of commercial and office space within a short walking distance to the West Concord Commuter Rail Station. The property features a mix of studio, one- and two-bedroom units priced from $1,755 to $3,265. On-site amenities include an underground parking garage, community room with gas fireplace and WiFi access, fitness center and a community deck overlooking Nashoba Brook. The property is managed by WinnResidential.
BUFFALO, N.Y. — Picone Construction Corp. is constructing a $4.5 million, five-story mixed-use building at 301 Ohio St. in Buffalo. The 52,000-square-foot property will house two restaurants, 10,000 square feet of commercial space and 21 one- and two-bedroom apartments. Residential units will feature balconies overlooking the Buffalo River. Designed by Chaintreuil, Jenson, Stark Architects, the project is slated for completion in 2016.