STATESVILLE, N.C. — SRS Real Estate Partners’ Investment Property Group has brokered the sale of Crossroads Shopping Center, a 117,224-square-foot retail center located at 1000 Crossroads Drive in the Charlotte suburb of Statesville. River City Capital purchased the center for an undisclosed price. Situated on 14.1 acres and shadow-anchored by a Walmart Supercenter, Crossroads was leased at the time of sale to tenants including Big Lots, Burkes Outlet, Dollar Tree, American Deli, rue21, Shoe Dept., Bath & Body Works and GNC. Kyle Stonis and Pierce Mayson of SRS’ Atlanta office represented the seller in the transaction. The buyer was self-represented.
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BAYONNE, N.J. — JLL has negotiated a 195,723-square-foot industrial lease for The Home Depot at Harborview Logistics Center in the Northern New Jersey community of Bayonne. The speculative building will be fully complete in January and features a clear height of 40 feet, 46 dock doors and parking for 149 cars and 32 trailers. HD Supply, an affiliate of the Atlanta-based home improvement retailer, will relocate to the facility in a move that represents an expansion from its current facility in nearby Secaucus. Joel Lubin and Gary Politi of JLL represented the landlord, Delta Equity Management, in the negotiations for the seven-year lease. Noah Balanoff of Colliers represented the tenant.
U.S. Realty Partners Buys 135,996 SF Lahaina Gateway Retail Center in Hawaii for $37.2M
by Amy Works
LAHAINA, HAWAII — Westlake Village, Calif.-based U.S. Realty Partners has acquired Lahaina Gateway, a grocery-anchored shopping center in Lahaina, from an institutional investment firm for $37.2 million. Located at 325-355 Keawe St., Lahaina Gateway features 135,996 square feet of retail space. The sale process started with the center 77 percent occupied with negotiated leases that will bring the occupancy to 90 percent. Tenants include Foodland Farms, Ace Hardware, Ross Dress for Less, Vitamin Shoppe, Supercuts, Local Motion and Maui Powerhouse Gym. Bryan Ley, Gleb Lvovich, Geoff Tranchina and Keenan Sue of JLL Retail Capital Markets investment sales and advisory team represented the seller in the deal.
GLENDALE, ARIZ. — Logistics Plus, a worldwide provider of transportation, logistics and supply chain solutions, has signed a full-building lease at Building A of Sarival Logistics Center in Glendale. The 1.15 million-square-foot building was built on a speculative basis and is the first phase of a larger development, which can accommodate more than 2 million square feet of industrial space at full build out. Building A features 40-foot clear heights, 845 auto parking spaces, 409 trailer stalls, 218 dock doors, four drive-in doors, wide column spacing, ESFR sprinklers, 6,000 amps of heavy power and LED warehouse lighting. Andy Markham, Mike Haenel and Phil Haenel of Cushman & Wakefield represented the undisclosed landlord, while Jeremy Trotter of Foremost Commercial represented the tenant in the lease transaction.
Buchanan Street Partners Purchases Oakbrook Plaza Office Building in Laguna Hills, California for $28.1M
by Amy Works
LAGUNA HILLS, CALIF. — Newport Beach-based Buchanan Street Partners has purchased Oakbrook Plaza, an office building located at 24422 Avenida De La Carlota in Laguna Hills. A New York City-based fund manager sold the property for $28.1 million in an off-market transaction. The four-story building features 120,354 square feet of space. Currently, the property is 66 percent occupied, with 30 percent of the existing space leased to medical tenants. The asset is located less than one mile from MemorialCare Sadddleback Medical Center and several retirement communities. Kevin Shannon, Paul Jones and Brandon White of Newmark represented the seller in the transaction.
VISTA, CALIF. — Rockwood Capital has purchased The Rylan, a multifamily property in downtown Vista, from StreetLights Residential for an undisclosed price. The Rylan offers 126 units, resort-style amenities and five ground-floor retail spaces. Hunter Combs of Walker & Dunlop represented the seller and buyer in the transaction.
BH Developers Breaks Ground on 36,000 SF Airpark North Industrial Project in Northern Colorado
by Amy Works
LOVELAND, COLO. — BH Developers, with Evergreen Industrial as general contractor, has broken ground on Airpark North, a freestanding industrial building located adjacent to the Fort Collins/Loveland Airport in Loveland. Situated on four acres, the building features 30,000 square feet of warehouse space and two 3,000-square-foot mezzanines. The property also features 21-foot clear heights, six loading doors, a 1.5-acre laydown yard behind the building and retention pond. Completion is slated for June 2023. Travis Ackerman of Cushman & Wakefield and Matt Haskell of URealty are handling marketing efforts for the project.
ORANGEBURG, N.Y. — CBRE has brokered the $12 million sale of a 38,400-square-foot life sciences facility located at 25 Corporate Drive in Orangeburg, about 25 miles north of Manhattan. Charles Berger, Elli Klapper, Mark Silverman and Jeremy Wernick of CBRE represented the seller, an entity doing business as 25 Corporate Drive LLC, in the transaction. The team also procured the buyer, Solomon Builders, which acquired the property via a 1031 exchange. At the time of sale, the property was fully leased on a triple-net basis to Scapa North America, a subsidiary of global engineering firm Schweitzer-Mauduit International.
NEW YORK CITY — Locally based financial intermediary ERG Commercial Real Estate has arranged a $5 million loan for the refinancing of a 13,300-square-foot retail property in Brooklyn’s Bushwick neighborhood. The property at 29 Wyckoff Ave. was originally built as a warehouse in 1931, but the undisclosed borrower recently converted the structure into a retail property with five spaces. Ryan Lewis and Mary Guarino of ERG Commercial originated the loan, which carried a 4 percent fixed interest rate and a 25-year amortization schedule.
NEW YORK CITY — Whole Foods Market will open a 42,000-square-foot store at 66 Broadway in Manhattan’s Financial District, on Wednesday, Jan 11. The store will feature full-service meat and seafood counters, a coffee bar, bakery, prepared foods section, a selection of more than 200 craft beers and a section devoted to cosmetics and body care products.