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AcquisitionsFloridaRestaurantRetailSoutheast

JLL Arranges Sale of Open-Air Retail Center in Land O’ Lakes, Florida

by John Nelson

LAND O’ LAKES, FLA. — JLL has arranged the sale of The Hub at Bexley, an open-air retail center located at 16954 Focus Loop in Land O’Lakes, about 20 miles north of Tampa. Jorge Portela, Danny Finkle and Jacob Wise of JLL represented the seller, Center Connect Development, which delivered The Hub at Bexley in 2023. CenterSquare Investment Management purchased the property for an undisclosed price. The 50,000-square-foot retail center, which is designed in a village setting, was fully leased at the time of sale to tenants including BellaBrava, Stillwaters Tavern and TREK Bikes.

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Tower-2600-Richardson
AcquisitionsOfficeTexas

Newmark Negotiates Sale of 229,307 SF Office Building in Richardson, Texas

by Taylor Williams

RICHARDSON, TEXAS — Newmark has negotiated the sale of Tower 2600, a 229,307-square-foot office building located in the northeastern Dallas suburb of Richardson. The nine-story building was 92 percent leased at the time of sale and offers amenities such as a fitness center, conference facilities, tenant lounge and grab-and-go food service. Gary Carr, Robert Hill, Chris Murphy and Austin Sheahan of Newmark represented the seller, Development Ventures Group, in the transaction. The buyer was Harkinson Investment Group.

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Leasing ActivityOfficeTexas

NAES Corp. Signs 28,000 SF Office Lease Expansion in The Woodlands, Texas

by Taylor Williams

THE WOODLANDS, TEXAS — NAES Corp. has signed a 28,000-square-foot office lease expansion at Hughes Landing in The Woodlands, about 30 miles north of Houston. The power plant operator is currently a subtenant at 1735 Hughes Landing and will soon establish a long-term presence at 1725 Hughes Landing. Lucian Bukowski of Stream Realty Partners and Kip Durrell of CBRE represented the tenant in the lease negotiations. Jillian Fredericks, Joel Douthit and John Spafford, also with CBRE, represented the landlord, Howard Hughes Holdings.

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AcquisitionsRetailTexas

Marcus & Millichap Brokers Sale of 25,113 SF Retail Center in Seabrook, Texas

by Taylor Williams

SEABROOK, TEXAS — Marcus & Millichap has brokered the sale of a 25,113-square-foot retail center in Seabrook, about 30 miles southeast of Houston. Seabrook Shopping Center sits on a 1.5-acre site at 2100 E. NASA Parkway. Scott Jones, Gus Lagos and Alex Wolansky of Marcus & Millichap represented the seller, an undisclosed local investor, in the transaction. The buyer and sales price were also not disclosed.

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Tournament-Patio-Apts-Torrance-CA
AcquisitionsCaliforniaMultifamilyWestern

CBRE Arranges $21M Sale of Tournament Patio Apartments in Torrance, California

by Amy Works

TORRANCE, CALIF. — CBRE has arranged the $21 million sale of Tournament Patio Apartments in the Southern California city of Torrance. JS Bower Foundation sold the property to Good Capital Group. Situated on 1.7 acres at 4111 W. 239th St., Tournament Patio Apartments features 60 apartments with an average units size of 1,023 square feet. The two-story, garden-style property was built in 1963. Derrek Ostrzyzek, Anna Kampling, Rachel Parsons, Kenji Thomas and Mike Murphy of CBRE represented the seller in the deal.

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AcquisitionsArizonaHealthcareIndustrialMixed-UseOfficeWestern

Venture West Group Sells Innovation Park in Oro Valley, Arizona for $21.2M

by Amy Works

ORO VALLEY, ARIZ. — Venture West Group has sold Innovation Park, a 333-acre master-planned business park in Oro Valley, to Bourn Cos. for $21.2 million. Robert Glaser, Richard Kleiner, Greg Furrier, Alexis Corona and Natalie Furrier of Cushman & Wakefield | PICOR represented the seller in the transaction. Kate Zimmerman, also with Cushman & Wakefield | PICOR, supported the transaction. Located at the northwest corner of Oracle and Tangerine roads, the business park is home to a variety of tenants, including Roche Tissue Diagnostics, the University of Arizona Center for Innovation at Oro Valley and Oro Valley Hospital.

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4340-N-Nellis-Blvd-NLV-NV
IndustrialLeasing ActivityNevadaWestern

Packaging Manufacturer, Recycler Signs 141,540 SF Industrial Lease in North Las Vegas

by Amy Works

NORTH LAS VEGAS, NEV. — ALPLA, a global plastics manufacturer and recycler, has signed a 141,540-square-foot industrial lease at Building A within Craig Road Logistics Center in North Las Vegas. The Class A industrial facility is located at 4340 N. Nellis Blvd., a former Walmart Supercenter, and will support ALPLA’s continued growth in the Las Vegas market. Building A features 32-foot clear heights, ESFR sprinkler systems, LED warehouse lighting, 52-foot by 60-foot column spacing, 18 dock-high doors, two grade-level doors, 151 auto parking spaces and 2,535 square feet of office space with separate office and shop restrooms. Jason Simon and Rob Lujan of JLL’s Las Vegas office represented the landlord, Rockefeller Group, in the lease negotiations, while Daniel Wilkins, Lou Hall and Donna Alderson of Cushman & Wakefield represented ALPLA. Lee & Sakahara Architects designed the project. TWC Construction served as general contractor, and Taney Engineering served as civil engineer.

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Vail-Ranch-Plaza-Temecula-CA
CaliforniaRetailWestern

Progressive Real Estate Brokers $6.5M Sale of Multi-Tenant Retail Building in Temecula, California

by Amy Works

TEMECULA, CALIF. — Progressive Real Estate Partners has brokered the $6.5 million sale of a multi-tenant retail building located within Vail Ranch Plaza in the Southern California city of Temecula. Greg Bedell of Progressive represented the buyer, a Los Angeles-based private investor, in the transaction. Brian Bielatowicz, Ryan Bennett and Drew Olson of Lee & Associates represented the seller, another private investor. The 8,781-square-foot retail building was fully leased at the time of sale to tenants including Better Buzz Coffee, Orangetheory Fitness, Krak Boba and D’Or Nail Lounge. Vail Ranch Plaza is an open-air shopping center that is anchored by Sprouts Farmers Market, PetSmart and EOS Fitness.

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High-Mountain-Promenade-North-Haledon-New-Jersey
DevelopmentMixed-UseNew JerseyNortheast

Partnership Breaks Ground on Mixed-Use Project in North Haledon, New Jersey

by Taylor Williams

NORTH HALEDON, N.J. — A partnership between two New Jersey-based groups, Tulfra Real Estate and The Hampshire Cos. has broken ground on High Mountain Promenade, a mixed-use project in the Northern New Jersey community of North Haledon. The development will comprise a 596-unit, 74,715-square-foot (gross) self-storage facility, as well as 90 apartments and 4,400 square feet of retail space. First Bank provided construction financing for the project, which was arranged by JLL. A tentative completion date was not disclosed.

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DevelopmentIndustrialNortheastPennsylvania

Boyle Construction Underway on Adaptive Reuse Project in Bethlehem, Pennsylvania

by Taylor Williams

BETHLEHEM, PA. — Developer Boyle Construction is underway on an adaptive reuse project in the Lehigh Valley city of Bethlehem. Designed by MKSD Architects, the project will convert the historic former Bethlehem Steel Turn & Grind Shop, a 26,000-square-foot structure that was built in the 1860s, into a mixed-use facility for festivals, private events and community gatherings. The Lehigh Valley Health Network is sponsoring the conversion, and Pennsylvania-based nonprofit organization ArtsQuest will operate the new facility. Completion is slated for next year.

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