FRISCO, TEXAS — Orlando-based Simply Self Storage has opened a 733-unit facility at 4740 4th Army Drive in the northern Dallas suburb of Frisco. The Class A property, construction of which began in August 2017 and lasted about a year, offers 82,850 square feet of net rentable space. The facility offers a mix of climate-controlled and interior storage units, as well as exterior, drive-up units.
LAKE ELSINORE AND VISTA, CALIF. — Faris Lee Investments has brokered the $5.3 million sale of two quick-serve restaurants in California via two separate transactions. In the first transaction, Loan Oak Ranch acquired a newly constructed restaurant property, located in front of the recently completed Central Plaza in Lake Elsinore. The seller was HFC/PRP Elsinore LLC. The property was pre-sold, as it was still under construction at the time of sale, for $3.8 million. Jeff Conover and Chris DePierro of Faris Lee Investments represented the seller, while Schuil & Associates represented the buyer. In the second deal, Northern California-based Maddvio California purchased a newly constructed quick-serve restaurant property in downtown Vista from 227 Broadway LLC for $1.5 million. DogHaus Restaurant & Brewery, a “craft-casual” gourmet hot dog chain, occupies the 3,593-square-foot property. Conover, Scott DeYoung and Hunter Steffien of Faris Lee Investments represented the seller, while Faris Lee represented the buyer in the transaction.
HARLINGEN, TEXAS — JLL has negotiated the sale of Stoneleigh Harlingen, a 180-unit multifamily community in the Rio Grande Valley city of Harlingen. Built in 2006, the property offers one- and two-bedroom units and amenities such as a pool, fitness center, business center and a resident clubhouse. Zar Haro, Moses Siller and Robert Arzola of JLL represented the seller, Seneca Investments, in the transaction. Leuven Group acquired the asset for an undisclosed price.
SALINAS, CALIF. — Lee & Associates – North San Diego County has arranged the sale of a retail property, located on 0.3 acres in Salinas. BEWS Main Street LLC sold the property to Bei-Scott Co. for $2.2 million. 7-Eleven occupies the 2,251-square-foot retail building, which was built in 1987. Ryan Barr and Ryan Bennett of Lee & Associates – North San Diego County represented the seller, while Shoemaker Commercial Real Estate represented the buyer in the deal.
SAN ANTONIO — HR Construction is nearing completion of upgrades to the 1,002 guest resort suites at the JW Marriott San Antonio Hill Country Resort & Spa. Rooms at the property, which opened in 2010 as the largest JW Marriott resort in the world, feature new furnishings and light fixtures, as well as redesigned bathrooms and 65-inch TVs. Seifert Murphy handled design of the project, which is slated to be fully complete in early March.
FORT LAUDERDALE, FLA. — Cushman & Wakefield has arranged the $29.2 million sale of Lakeshore Business Center, a four-building office park in Fort Lauderdale. The business center is located at 5100 and 5200 NW 33rd Ave. and 3201-3125 W. Commercial Blvd., about seven miles north of downtown Fort Lauderdale. Mike Davis, Scott O’Donnell, Dominic Montazemi, Greg Miller, Rick Brugge and Michael Lerner of Cushman & Wakefield represented the seller, Morning Calm Management, in the transaction. Miami-based YMP Real Estate purchased the asset, which was 79 percent leased at the time of the sale.
ARLINGTON, VA. — Booz Allen Hamilton, a Fortune 500 firm that specializes in providing consulting, analytics, engineering and digital solutions and employs 25,000 people in 80 locations worldwide, will expand its presence in Arlington’s National Landing submarket. In September, Booz Allen Hamilton will occupy 84,000 square feet of office space at 1550 Crystal Drive, a 480,572-square-foot building owned by JBG Smith Properties. The building is now 92 percent leased. The asset is situated about four miles south of downtown Washington, D.C.
CLARKSBURG, MD. — The NRP Group has broken ground on The Axiom at Cabin Branch, a 272-unit apartment complex in Clarksburg. The apartment complex will offer one-, two- and three-bedroom floor plans and community amenities such as a swimming pool, pool deck, fire pits, grills, fitness center, dog park, bike storage and package reception services. The asset is located about 30 miles north of Washington, D.C. The NRP Group is developing Axiom with equity partner Parse Capital. First National Bank of Pennsylvania is providing construction financing. A timeline for completion was not provided.
RALEIGH, N.C. — CBRE | Raleigh has signed Petco, Ulta Beauty and Five Below to leases at Pleasant Valley Promenade in Raleigh. Petco signed a 13,600-square-foot lease, Ulta signed a 10,718-square-foot lease and Five Below signed an 8,474-square-foot lease. The new tenants are expected to open this year and will join Dick’s Sporting Goods, Ross Dress for Less, Marshalls, Bed Bath & Beyond and Fitness Connection. Pleasant Valley Promenade offers more than 362,000 square feet of retail space and is situated about seven miles northwest of downtown Raleigh. Cristi Greene and Reagan Crabtree of CBRE | Raleigh represented the landlord, Kimco Realty, in the transactions.
BOSTON — Skanska and PGIM Real Estate have sold The Harlo, a 17-story multifamily tower in the Fenway neighborhood of Boston. Global real estate investment manager Invesco Real Estate purchased the property for $150 million. The 183,000-square-foot property includes 212 boutique apartments as well as retail space. At the time of sale, the property was 98 percent leased.