WIXOM, MICH. — Torch Tobacco has signed a 1,250-square-foot retail lease at Wixom Charms Plaza in Wixom, a northwest suburb of Detroit. CVS anchors the shopping center, which still has spaces available for lease. Michael Murphy and Bill McLeod of Gerdom Realty & Investment represented the undisclosed landlord. Jonathan Semma of 365 Realty represented the tenant.
CINCINNATI — Nicol Investment Co. has sold the Riverfront Portfolio at The Banks, a mixed-use development in downtown Cincinnati, to Crawford Hoying. The sales price was not disclosed, but the Cincinnati Business Courier reports the assets traded for approximately $177 million. The project consists of two multifamily properties totaling 592 units, Current at the Banks and Radius at the Banks, in addition to approximately 100,000 square feet of ground-floor retail space. The properties are located in the city’s Central Business District, nestled between Great American Ballpark (home of the MLB’s Cincinnati Reds), Paycor Stadium (home of the NFL’s Cincinnati Bengals) and the Ohio River, which separates Ohio from Kentucky. The 300-unit Current at the Banks includes more than 77,000 square feet of ground-floor retail space leased to The Holy Grail, Jefferson Social, Fishbowl and Ruth’s Chris. Radius at the Banks features 292 units as well as 19,000 square feet of ground-floor retail, which includes E+O Kitchen and Taste of Belgium. “Crawford Hoying brings tremendous value to the high-profile project as a manager and operator of various commercial real estate projects throughout Ohio,” says Ron Johnson, chief financial officer at Nicol. “We’d like to thank the CBRE Riverfront Team, led by …
POMPANO BEACH, FLA. — The Estate Cos. (EIG) has broken ground on Soleste Pompano Beach, an eight-story multifamily project located at 208 N. Federal Highway in South Florida’s Broward County. Upon completion, the community will feature 253 apartments in one- and two-bedroom configurations and 4,000 square feet of commercial space. Amenities will include a pool and sun deck, fitness center and a picnic area. The property will also include a parking garage with 367 spaces and an additional 11 spaces at ground level.
EAST POINT, GA. — Crown Bay Group LLC has purchased Cameron Run, a workforce housing community in East Point, for $35 million. Located at 4395 Washington Road, the property comprises 284 units in one-, two- and three-bedroom layouts. Originally built in 1972, the community recently underwent $1 million in capital improvements and features a gym, playground, artificial turf sports field and a dog park. Cameron Run was 93 percent occupied at the time of sale. Crown Bay Group plans to hold the property for three to five years and make capital improvements. The seller and sales price were not disclosed.
DECATUR, GA. — Colliers has arranged the sale of Sam’s Crossing, a 65,785-square-foot shopping center located in Decatur, a suburb northeast of Atlanta. Publix Super Markets anchors the center and was the buyer in the transaction. In addition to the new, 53,785-square-foot grocery store, tenants at the property include DECA Dental, Planet Smoothie, Jersey Mike’s and Jeremiah’s Italian Ice. Joe Montgomery, Scott Israel and Henry Kushner of Colliers’ Retail Investment Sales team represented the seller, Alliance Realty Services, in the transaction. The sales price was not disclosed.
MIAMI BEACH, FLA. — Asana Partners has announced the addition of five new tenants to Sunset Harbour, a 21,000-square-foot retail center in Miami Beach. Restaurants Casa Bufala, Sacro and Nautical Bowls will occupy 2,500, 2,813 and 950 square feet, respectively. Chip City Cookies will also join the food-and-beverage lineup, leasing 980 square feet. Additionally, fitness and wellness club The Outsider will open a 2,006-square-foot location.
RICHMOND, VA. — Sapporo USA Inc. has signed an office/warehouse lease at Sauer Industrial Center, an industrial park located at 943 S. Airport Drive in Richmond. The beer manufacturer will occupy 149,030 square feet at the property. Cliff Porter of Porter Realty represented the landlord, Becknell Industrial, in the lease negotiations.
ST. LOUIS — Aptitude Development is set to break ground on The Marshall St. Louis, a 508-bed student housing community located near St. Louis University. Construction is scheduled to begin this spring, with completion anticipated for fall 2025. Amenities will include an expansive hot tub, fitness facility, gaming lounge, collaborative and individual study spaces, café areas and fire pits. Aptitude is a student housing developer based in Elmwood Park, N.J.
BLOOMINGTON, MINN. — SFM Mutual Insurance Co. has renewed its 49,490-square-foot office lease at Northland Center in the Minneapolis suburb of Bloomington. KBS owns the two-building, 492,514-square-foot property. Amenities include a 40,000-square-foot concourse level offering public areas, 5,000-square-foot fitness center, full-service café, training and conference facilities, atrium lounge, onsite car wash and sundry shop. Bill Rothstein of Cushman & Wakefield represented KBS in the lease. KBS recently completed a $1 million renovation of Northland Center.
OMAHA, NEB. — Green Courte Partners LLC, a private equity firm currently investing through its Green Courte Real Estate Partners V investment fund, has acquired Bloomfield, a 95-unit active adult community in Omaha. The purchase price was undisclosed. True Connection Communities, the buyer’s wholly owned operating platform, will manage the community. The company’s operating portfolio now totals 18 communities with roughly 2,700 units. Green Courte plans to renovate units and upgrade the outdoor amenities.
