COLONIE, N.Y. — New York City-based Olshan Properties has welcomed three new tenants to Northway Mall, a 480,000-square-foot shopping and dining destination located just outside of Albany in Colonie. The new tenants are Mattress Firm (4,745 square feet), Mission BBQ (4,329 square feet) and Club Pilates (1,846 square feet). Each company’s space is located within a standalone building that previously housed a Petco and which Olshan repositioned to support multiple tenants.
GREENWICH, CONN. — Global alternative investment firm Centerbrook Partners has signed a 3,825-square-foot office lease at 55 Railroad Ave., a 139,000-square-foot building in the southern coastal Connecticut city of Greenwich. According to LoopNet Inc., the property was built in 1975 and renovated in 2006. Jay Hruska of Cushman & Wakefield represented the landlord, an affiliate of Houston-based Hines, in the lease negotiations. Steve Banker of Newmark represented the tenant.
WEST CHESTER, OHIO — Graycor Construction Co. has completed a 125,000-square-foot Bass Pro Shops Outdoor World store in West Chester near Cincinnati. The store is located at 5951 Bass Pro Drive at the intersection of I-75 and Allen Road. The development includes a fire watch tower, archery range, aquarium, exterior decorative water feature and boat showroom. Torgerson Design Partners was the architect. Graycor has now completed seven Bass Pro Shops.
OMAHA, NEB. — Darland Construction Co. has completed a more than 61,000-square-foot warehouse near the intersection of Highway 50 and I-80 in Omaha. The building features a clear height of 26 feet, eight dock doors and interstate signage. Preliminary budgeting for the project began in 2018, but concerns about rising prices and labor shortages during the pandemic put the project on hold, according to Darland. Investors Realty negotiated a full-building lease for Southern Carlson before the building was completed. The tenant is a commercial tool, fastener and jobsite supply company.
URBANDALE, IOWA — Marcus & Millichap has brokered the sale of an Urban Heights Storage facility in Urbandale near Des Moines for an undisclosed price. The 54,095-square-foot self-storage property, built in 2020, features 257 climate-controlled units, 95 drive-up units, 51 indoor units and 28 parking spaces. George Kondracke, Brian Kelly, Brett Hatcher, Gabriel Coe and Nathan Coe of Marcus & Millichap, in partnership with Brad Vander Linden of The Linden Co., represented the seller, a limited liability company. Buyer information was not provided.
ROMEOVILLE, ILL. — Venture One Real Estate, through its acquisition fund VK Industrial VI LP, has acquired a 38,409-square-foot industrial building in the Chicago suburb of Romeoville. Located at 1280 Lakeview Drive, the property is fully leased to one tenant. Constructed in 1995 and situated on three acres, the building features a clear height of 24 feet, two exterior docks, one drive-in door and parking for 52 cars. Terri Alexander and Michael Kraft of Transwestern represented the undisclosed seller. VK Industrial VI is co-sponsored by Venture One and Kovitz Investment Group.
MENTOR, OHIO — The Cooper Commercial Investment Group has arranged the $2 million sale of a single-tenant property occupied by Starbucks in Mentor, a northeast suburb of Cleveland. Constructed in 2022, the building features a drive-thru. Dan Cooper of Cooper Group represented the seller, a private investment group based in Ohio. The 1031 exchange buyer purchased the asset at a cap rate of 5.74 percent. There are approximately eight years remaining on the 10-year lease.
PHOENIX — Ray and VeLa Development Partners, as co-developers, have broken ground on Ray Phoenix, a 26-story residential tower at 777 N. Central Ave. in Phoenix. Johnson Marklee & Associates, in partnership with Lamar Johnson Collaborative, designed the project, while Grace Fuller Marroquín of Grace Fuller Design conceived the landscape concept. Situated in the Roosevelt Row Arts District, Ray Phoenix will feature 401 residential units — 193 studios; 116 one-bedrooms, including den and duplex options; and 92 two-bedrooms, including duplex and penthouse options. Totaling 523,000 square feet, the building will feature a fitness center, yoga studio, resort-style pool, communal kitchen, fireplace lounge, sunken lounge with theater experience, dog wash stations, indoor and outdoor gardens and workspaces, as well as more than 4,500 square feet of ground-level retail space.
SAN FRANCISCO — New York Life Real Estate Investors (NYLREI) and Bridgeton have acquired 410 Townsend Street, a four-story office building in San Francisco’s South of Market (SoMa) submarket. An undisclosed seller sold the 78,000-square-foot asset for $22 million. Mike Taquino and Kyle Kovac of CBRE represented the buyers in the deal. This transaction represents the first partnership between NYLREI and Bridgeton.
BEVERLY HILLS, CALIF. — Kennedy Wilson Brokerage has arranged the sale of Beverly Palm Plaza, a retail center at 9150-9198 Olympic Blvd. in Beverly Hills. DSC America Inc. sold the property to a local investor for $12.5 million. Supercuts, Domino’s Pizza, Sushi Sasabune, Bodhi Thai, Crazy Fish, Traveling Tikes and Zeglio Custom Clothier are tenants at the fully occupied, 11,484-square-foot property. Ed Sachse, Kyle Fishburn and Jack Nathan of Kennedy Wilson Brokerage represented the seller in the transaction.