GALESBURG, ILL. — Corteva Agriscience has leased 300,000 square feet at a former Maytag facility located at 1801 Monmouth Blvd. in Galesburg, about 45 miles northwest of Peoria. Corteva is an agricultural chemical and seed company. Phoenix Investors owns the building, which has been vacant since Maytag closed the plant over a decade ago. Phoenix purchased the facility in June 2019. Corteva will take occupancy this fall once renovations are completed.
HOUSTON — Lee & Associates has brokered the sale of a 158,700-square-foot industrial campus located at 6500 Brittmoore Road in northwest Houston. The campus consists of eight buildings on 13 acres. Robert McGee, Thomas Leger and Chase Cribbs of Lee & Associates represented the buyer, privately held development firm Adkisson Group, in the transaction. The seller and sales price were not disclosed. Lee & Associates will also be marketing the property for lease.
GAHANNA, OHIO — Thompson Thrift Retail Group (TTRG), a wholly owned subsidiary of Indianapolis-based Thompson Thrift, has sold a freestanding retail property in the Columbus suburb of Gahanna for an undisclosed price. Bank of America and Merrill Lynch are scheduled to open at the two-story, 8,830-square-foot property later this year. The one-acre parcel is located at the northeast corner of Hamilton and Blendon Place roads. Dylan Mallory of Hanley Investment Group Real Estate Advisors represented TTRG in the sale. The buyer was undisclosed.
FORT WAYNE, IND. — Sturges Property Group has brokered the sale of a 4,296-square-foot office building located at 608 Union Chapel Road in Fort Wayne. The sales price was undisclosed. Neal Bowman and Phil Hagee of Sturges represented the seller, Nolan Commercial Property, as well as the buyer, Professional Emergency Physicians.
GARLAND, TEXAS — Adolfson & Peterson (AP) Construction has been awarded the contract to renovate the 10,000-square-foot Audubon Recreation Center in Garland, a northeastern suburb of Dallas. The project will add a 5,000-square-foot fitness center and upgrade the common areas, restrooms, lobby, exterior façade and front patio. Brown Reynolds Watford Architects is the project architect. Construction is scheduled to begin this month and to be complete in summer 2021.
ALEXANDRIA, VA. — CIM Group has purchased Southern Towers, a 2,346-unit multifamily campus in Alexandria, for $506 million. The acquisition comprises Monticello, The Graham, Ashlawn, The Sherwood and The Stratford, each standing 16 stories. The combined properties span 41 acres at 4901-5055 Seminary Road, eight miles southwest of downtown Washington, D.C. Each community offers studio to three-bedroom floor plans. The combined campus features two pools, tennis courts, a playground, fitness center, community room and a business center. Snell Properties and Caruthers Properties sold the portfolio, which was built between 1961 and 1965 and renovated in 2015.
CHARLOTTE, N.C. — StoneBridge Investments has acquired Magnolia Terrace, a 264-unit apartment complex in Charlotte, for $40.7 million. The property, which was built in 1989, offers one-, two- and three-bedroom floor plans. Communal amenities include a pool, clubhouse, dog park, fitness center, playground and business center. The asset is located at 8301 Paces Oaks Blvd., nine miles northeast of downtown Charlotte. Jordan McCarley and Brooks Colquitt of Cushman & Wakefield represented the seller, Atlanta-based RADCO Cos., in the transaction. Elliott Throne, Cory Fowler, and Amit Kakar of JLL originated a Freddie Mac acquisition loan on behalf of the buyer.
ALTAMONTE SPRINGS, FLA. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the $28 million sale of North Lake Business Park, a 15-building office campus in Altamonte Springs. The property comprises 270,000 square feet and was 90 percent leased at the time of sale to a mix of technology, real estate and healthcare tenants. North Lake Business Park is situated on 29 acres at 600 Northlake Blvd., 11 miles north of downtown Orlando. Douglas Mandel of IPA represented the seller, Real Capital Solutions, in the transaction. Mandel also procured the buyer, Taurus Investment Holdings LLC.
KISSIMMEE, FLA. — The PMAT Cos. has acquired Columbia Promenade, a 68,853-square-foot shopping center in Kissimmee. Publix anchors the center, which is located at 1251 W. Columbia Ave., 19 miles south of downtown Orlando. The asset was 93 percent leased at the time of sale to tenants including Publix, Get Nails & Spa, Keke’s Breakfast Café and Little China. JLL and Ten-X represented the undisclosed seller in the transaction.
ALPHARETTA, GA. — North American Properties (NAP), developer and manager of the 86-acre mixed-use property Avalon in Alpharetta, will host its inaugural Holiday Market at Avalon. The event will be a six-week, outdoor pop-up market that will share an intersection with Tesla, Rumi’s Kitchen and Apple. Holiday Market at Avalon will open Nov. 22 as part of Avalon’s 2020 Holiday Experience, which has been altered due to the COVID-19 pandemic. The holiday program will include Santa experiences and Avalon on Ice, the destination’s Rockefeller Center-sized ice-skating rink. Holiday Market at Avalon will be held at a 9,000-square-foot retail space at the intersection of Avalon Boulevard and 1st Street. The market will be open through Jan. 3. Participating businesses will have the opportunity to create their own retail experience in individual spaces ranging from 150 feet to 700 square feet.