OAK ISLAND, N.C. — Halpern Enterprises has delivered Oak Island Market Place, a 35,800-square-foot, Publix-anchored property in Oak Island. Publix occupies 28,800 square feet. The remaining restaurant and retail space is available for lease. The property is situated at 5001 E. Oak Island Drive, 36 miles south of downtown Wilmington. This is the ninth shopping center Halpern has developed or redeveloped with a Publix anchor and the fourth in North Carolina.
DALLAS — Dallas-based Heritage Auctions, the country’s largest fine art and collectibles auction house, has relocated its headquarters from 3500 Maple Ave. in the Oak Lawn area to a new, 160,000-square-foot campus at 2801 W. Airport Freeway. The new headquarters is roughly twice the size of its old one and allows the company’s three Dallas offices to be consolidated under one roof. About 450 people will work at the new, single-story complex, which spans the length of three football fields and features an 8,000-square-foot gallery showroom. Nora Hogan, Robert Deptula and Jordan Wade of Transwestern represented Heritage Auctions in the site selection and lease negotiations. Mark Hayes of HPI Real Estate Services & Investments represented the landlord, Bandera Ventures.
LA JOLLA, CALIF. — Belmont Village Senior Living and Greystar have broken ground on Belmont Village Senior Living of La Jolla. The development is Belmont Village’s 32nd community and its third in San Diego County. The project is Belmont’s first in partnership with another developer. “A mutual colleague brought us together — Greystar had sourced a terrific location with an entitlement history that made it a perfect opportunity for licensed seniors housing,” says Patricia Will, Belmont Village founder and CEO. “We saw the potential of the site, and of bringing our mutual expertise together to create something really unique in independent and assisted living.” Belmont Village and Greystar jointly purchased the land in March and closed on a construction loan in April. The partners have collaborated to develop the project since late 2017. Belmont Village La Jolla will be a 17-story high-rise with 180 units of independent living, assisted living and memory care. The architect on the 209,000 square foot building is Joseph Wong Design Associates and project contractor is Suffolk Construction, both based in San Diego. The development is Belmont Village’s seventh project with equity partner Harrison Street Real Estate Capital.
SCOTTSDALE, ARIZ. — An affiliate of San Francisco-based The Roxborough Group has completed the sale of Perimeter Parkview Corporate Center, an office building located at 8377 E. Hartford Drive in Scottsdale. San Diego-based Cush Enterprises acquired the property for $30 million, or roughly $286 per square foot. Chris Toci, Chad Littell, Tim Whittemore, Grey Mayer and Patrick Schrimscher of Cushman & Wakefield’s Phoenix office represented the seller in the deal. Completed in 2006, the two-story, 104,956-square-foot, Class A office asset features a subterranean parking garage with direct tenant access. At the time of sale, the property was 90 percent leased to three tenants.
SEATTLE — Local developer Wright Runstad & Co., in partnership with Intercontinental Real Estate Corp., has broken ground on 400 University @ Rainier Square. The 10-story, Class A office building will be located at the southwest corner of University Street and Fourth Avenue in downtown Seattle. Totaling 122,000 square feet, the development will feature 110,000 square feet of office space above 12,000 square feet of street-level restaurant and lounge space. Additional features will include a subgrade mezzanine level, a 6,000-square-foot rooftop deck, third-floor terrace, bike storage, locker rooms with showers and dedicated tenant parking. The plans also include an underground concourse that connects to the Washington Athletic Club, Seattle Hilton, Union Square and the Washington State Convention Center. Upon completion in July 2021, the NBBJ-designed building will complete Rainier Square, a 1.2 million-square-foot mixed-use project Wright Runstad developed. Jeffery Weber and Jason Flynn of Eastdil Secured’s San Francisco office arranged the secured the joint venture partnership. Greg Inglin and David Abbott of Colliers International represent the office leasing team.
GLENDALE, ARIZ. — Hines, along with funds managed by Oaktree Capital Management, has selected Graycor Construction’s Southwest Division as general contractor for Phase I of Glendale 303 (G303), a Class A industrial development along the Loop 303 corridor in Glendale. The industrial park will be constructed in two phases, with two buildings each totaling 569,520 square feet. To accommodate needs of a major tenant, G303 will offer the flexibility to convert into a single, 1.2 million-square-foot building. Graycor will manage grading for the full project site and build G303’s first 569,520-square-foot building. Construction is slated to begin in July, with completion scheduled for first-quarter 2021. Ware Malcomb is serving as architect for G303. Bill Honsaker and John Lydon of JLL are serving as leasing brokers for the project.
BRISTOL, WIS. — HSA Commercial Real Estate, in partnership with Washington Capital Management, has broken ground on the first phase of the 68-acre Bristol Highlands Commerce Center in Bristol near I-94 and the Wisconsin-Illinois border. The first two speculative buildings are slated for completion in the fourth quarter. One is a 157,656-square-foot warehouse with 31 truck docks, and the other is a 472,216-square-foot distribution center with 72 truck docks. Jeff Hoffman and Chad Vande Zande of Cushman & Wakefield | Boerke, along with Eric Fischer of Cushman & Wakefield in Chicago, are marketing the facilities for lease. Premier Design + Build Group is the general contractor, Partners in Design Architects is the architect and Pinnacle Engineering is the civil engineer.
SAN ANTONIO — Dallas-based Elm Creek Real Estate has acquired Woodlake Crossing, a 159,703-square-foot retail power center located at 6212 Woodglen Drive in San Antonio. Tenants include Ross Dress for Less, Petco and Office Max. Kevin Catalani of CBRE represented the seller, Illinois-based InvenTrust Properties, in the transaction. Elm Creek also owns the building that shadow-anchors the center, which was previously occupied by Target.
EDWARDSVILLE, ILL. — Meridian Design Build has completed the construction of a 673,920-square-foot speculative industrial building in Edwardsville within metro St. Louis. Exeter Property Group was the developer. The new facility is located on a 135-acre parcel within Gateway Commerce Center. The building features a clear height of 36 feet, 132 loading docks, four drive-in doors, 398 auto parking stalls and 171 exterior trailer stalls. JRA Architecture and Stock & Associates Consulting Engineers Inc. made up the project team.
EAST PEORIA, ILL. — Panera Bread has opened a new location at The Levee District in East Peoria in central Illinois. The 4,380-square-foot restaurant is located at 496 W. Washington St., across from Target. Panera Bread relocated from Camp Street Crossing. The new location features a drive-thru and outdoor patio. While full access to the dining room is not yet available due to COVID-19 restrictions, the restaurant is offering curbside pickup, contactless delivery, drive-thru and catering. Cullinan Properties Ltd. owns The Levee District.
