AKRON, OHIO — Off-price department store Ross Dress for Less has signed a 25,200-square-foot lease to open its first store in Ohio. The retailer will occupy space within The Plaza at Chapel Hill shopping center. The company expects the store to open in summer 2019. The Plaza at Chapel Hill is a 456,055-square-foot shopping center anchored by Giant Eagle. Other tenants include Dick’s Sporting Goods, Shoe Carnival, Great Clips, Ideal Image and El Papas Mexican Restaurant. ShopOne Centers REIT Inc. is the property landlord. California-based Ross operates more than 1,600 stores in 37 states. The retailer sells women’s, men’s and kid’s apparel, as well as shoes and home décor.
LOCKPORT, ILL. — Gruma Corp. has signed a 61,163-square-foot industrial lease at 14407 S. Gougar Road in Lockport, 30 miles southwest of Chicago. Dan Leahy, Mark Moran and John Whitehead of NAI Hiffman represented the landlord, ML Realty Partners, in the lease transaction. Britt Casey and Al Caruana of Cushman & Wakefield represented the tenant. Gruma is a food company most known for the production of Mission tortillas.
WEST BRIDGEWATER, MASS. — KeyPoint Partners has negotiated the $3.4 million sale of West Bridgewater Plaza, a retail property in West Bridgewater. The 133,000-square-foot retail center is located off Route 28. Don Mace of KeyPoint represented the buyer, the owner and operator of indoor entertainment concept FunZ. The buyer plans to open a FunZ location in the former Shaw’s space at the center.
FORKED RIVER, N.J. — HFF has negotiated the sale of Sunrise Plaza, a 255,940-square-foot retail center in Forked River. Located on more than 27 acres, the center is fully occupied by a tenant roster that includes Aldi, Kohl’s and The Home Depot. The center was built in 2007. Jose Cruz, Stephen Simonelli, Kevin O’Hearn and Michael Oliver of HFF represented the undisclosed seller in the transaction. The buyer was a public entity.
IRVING, TEXAS — New York City-based Extell Development Co. has acquired Four Seasons Resort & Club Dallas, a 405-room hotel located within Irving’s Las Colinas district, for $235 million. The sale price equates to about $580,000 per unit. The property offers access to a golf course and has several onsite bars and restaurants. According to hotel-online.com, the seller was Blackstone, which acquired the property from CW Capital Asset Management in 2014 for $150 million.
AUSTIN, TEXAS — Zydeco Development Corp. has broken ground on Phase II of MetCenter, an office project in central Austin that will feature 410,000 square feet of office space. The property offers proximity to both the downtown area and Austin-Bergstrom International Airport. Onsite amenities will include hiking and biking trails, as well as basketball and tennis courts. Completion of Phase II is slated for April 2019. JLL is leasing the project.
AUSTIN, TEXAS — HFF has negotiated the sale of Las Cimas II and III, a 313,716-square-foot office property in Austin. Completed in 2000 and 2001, the two buildings are located at the intersection of Loop 360 and Bee Cave Road on the city’s southwestern side. Amenities include a Whole Foods Market deli, fitness center and a conference room. HFF represented the seller, international investment firm GLL Real Estate Partners, and procured the buyer, Boston-based Rockpoint Group LLC.
SAN ANTONIO — CBRE has arranged a refinancing for Franklin Park Alamo Heights, a 221-unit independent living, assisted living and memory care community in San Antonio. The borrower is a joint venture between Harrison Street Real Estate Capital and Franklin Development Properties. The amount of the loan was not disclosed. Aron Will and Tim Root of CBRE secured a three-year, floating-rate loan with 24 months of interest-only payments through an undisclosed debt fund.
MCLEAN, VA. — Freddie Mac has announced that Deborah Jenkins will be named executive vice president and head of its Multifamily division, effective immediately. Additionally, Jenkins has assumed a role as member of the company’s Senior Operating Committee. “Debby’s transition into her role as head of the Multifamily business has progressed very well,” said Donald Layton, CEO of Freddie Mac. “Debby is dedicated to ensuring this growing segment of our company continues to be an industry leader, innovator and a critical financier of rental housing that is affordable to low- and moderate-income families.” In September, Freddie Mac announced the retirement of CEO Donald Layton taking place in the second half of 2019, as well as the commencement of the CEO Succession Plan and the elevation of former head of Freddie Mac Multifamily, David Brickman, to president of the company. Since 2010, Jenkins has led Multifamily Underwriting and Credit, overseeing all credit approvals and due diligence processes, asset level securitization activities, as well as credit policies and governance for all Multifamily’s products.
BEAUMONT, TEXAS — CBL Properties (NYSE: CBL) has begun work on a 110,000-square-foot retail redevelopment project in Beaumont. The company will backfill a former Macy’s store located at Parkdale Mall with a Dick’s Sporting Goods, Five Below and a national home furnishing store. The openings are slated for spring 2019. Parkdale Mall’s tenant roster includes Dillard’s, JC Penney, Sears, H&M, 2nd & Charles and Tilt Studio.