BAY CITY AND SOUTHGATE, MICH. — Domino’s plans to open two new locations in Michigan. The Ann Arbor-based pizza chain leased 2,500 square feet at the corner of Washington Avenue and 7th Street in downtown Bay City, about 15 miles north of Saginaw. In addition, Domino’s purchased a 2,000-square-foot building formerly occupied by Radio Shack in Southgate, about 15 miles southwest of Detroit. Michael Murphy and Tjader Gerdom of Gerdom Realty & Investment represented Domino’s in both deals. The pizza chain did not provide any details on when the restaurant openings will occur.
AMANDA, OHIO — The Boulder Group has brokered the $1.2 million sale of an 8,320-square-foot property occupied by Family Dollar in Amanda, about 30 miles southeast of Columbus. Constructed in 2016, the building is located at 308 E. Main St. Family Dollar has 11 years remaining on its lease. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest-based real estate owner. A Southeast-based real estate investor purchased the asset.
NEWARK, N.J. — Development and investment firm Paramount Assets is nearing completion of a two-building, 47-unit historic multifamily redevelopment project in Newark. The building at 30 Clinton St. was constructed in 1910 and is complete, and the building at 40 Clinton St. was constructed in 1914 and is nearing completion. Residents at both buildings have access to a fitness center, lounge and storage spaces. The development also includes ground-floor retail space, 2,500 square feet of which is occupied by the U.S. Post Office.
ABINGTON, PA. — Mediplex Property Group has delivered a 20,000-square-foot medical office building in Abington, located north of Philadelphia. The two-story building is fully leased to Abington Neurological Associates, LabCorp, Wink Optical & Eyecare and RMA-Jefferson Health. Pennsylvania-based firms Linn Architects and Axis Construction Management served as the architect and construction manager of the project, respectively. Bryn Mawr Trust Corp. provided construction financing.
FALLS CHURCH, VA. — Newmark Knight Frank (NKF) has arranged the $87.5 million sale of two office buildings located at 3170 and 3180 Fairview Park in Falls Church. The seller, an affiliate of Boston-based Marcus Partners, completed a renovation at the property this year. The upgrades included adding 25,000 square feet of amenity space, an outdoor terrace, firepit, 100-person auditorium, 100-person conference facility and a fitness center. The assets were 98 percent leased at the time of sale to tenants including General Dynamics Information Technology, Capital Caring Health, Sheet Metal Workers’ National Pension Fund and Balfour Beatty. The leases have a weighted average of 11 years remaining. The asset is situated 15 miles west of downtown Washington, D.C. James Cassidy, Jud Ryan and Cliff Cummings of NKF represented the seller in the transaction. Joe Donato and Kassi Saridakis of NKF worked with the buyer, Vanderbilt Office Properties, on the financing of the acquisition. Terms of the financing were not disclosed.
SAN ANTONIO — California-based beer brewer Pabst Blue Ribbon (PBR) will relocate its corporate headquarters from Los Angeles to downtown San Antonio, according to multiple news sources including CultureMap San Antonio and the San Antonio Business Journal. According to the former publication, PBR was headquartered in San Antonio between 1996 and 2006 and still maintains an office there. Local cable news outlet WOAI reports that PBR currently has about 60 employees in San Antonio and plans to grow its workforce to more than 115 employees in the coming months. PBR owns several different brands, Old Milwaukee, Rainier and National Bohemian.
PFLUGERVILLE, TEXAS — A partnership between Thompson Realty Capital and Trez Capital has broken ground on The Dalton, a 350-unit apartment community in the northern Austin metro of Pflugerville. The property will be situated on 21 acres and will offer one-, two- and three-bedroom apartments with quartz or granite countertops and stainless steel appliances. Amenities will include a pool, courtyard, communal kitchen spaces, a social bar, fitness center, independent study rooms, a dog park and outdoor walking trails. The Dalton is the partnership’s fourth project and is expected to be complete in 2021. Texas Capital Bank provided construction financing.
MARIETTA, GA. — Cushman & Wakefield has negotiated the sale of Kingston Court, a six-property industrial portfolio in Marietta. The facilities total 220,373 square feet and feature 18-foot clear heights and dock-high and drive-in doors in a combination of rear- and front-load configurations. The buildings were originally developed between 1978 and 1981. The portfolio is situated at 2171, 3002, 3061, 3062, 4012 and 4041 Kingston Court, a half-mile from Interstate 75 and 16 miles northwest of downtown Atlanta. Stewart Calhoun and Casey Masters of Cushman & Wakefield represented the seller, Clarion Partners, in the transaction. Dallas-based Stonelake Capital Partners purchased the portfolio for an undisclosed price.
NORFOLK, VA. — Colliers International has brokered the $20 million sale of an office building at Military Circle Mall in Norfolk. The property, which is located at 824 N. Military Highway, was originally built for J.C. Penney in 1969 and used to anchor Military Circle Mall. Now a 200,000-square-foot office building, the property sits on 16 acres and offers 1,436 parking spaces. Movement Mortgage and Sentara Health Plans occupy the asset. Patrick Gill of Colliers represented the seller, the City of Norfolk Economic Development Authority, in the transaction. MPB Inc. acquired the asset.
WILMINGTON, N.C. — Inlet Watch Development LLC has sold Storage at 7275 Carolina Beach Road, a 438-unit self-storage facility in Wilmington. The property comprises three buildings totaling 63,550 square feet on seven acres. The asset, which was built in 2018, is situated at 7275 Carolina Beach Road, 10 miles north of downtown Wilmington. Mike Mele and Luke Elliott of Cushman & Wakefield represented the seller in the transaction. Roswell, Ga.-based Reliant Real Estate Management LLC acquired the property for an undisclosed price.