PRAIRIE VILLAGE, KAN. — Developer VanTrust Real Estate LLC has opened The Kessler Residences in Prairie Village’s Meadowbrook Park. The 282-unit luxury apartment community features amenities such as a clubhouse, fitness center, private dining room, outdoor kitchen and walking trails. Floor plans range from studios to three-bedroom units. Monthly rents start at $1,281. Pinnacle Property Management Services LLC is managing the property. Meadowbrook Park was formerly a golf and country club.
BUFORD, GA. — Architecture firm Ware Malcomb has completed design on the new 985 Lanier Logistics Center located on Georgia State Road 13 and Lanier Islands Parkway in Buford, roughly 38 miles northeast of Atlanta. McCraney Property Co. is developing the project, and Evans General Contractor is building the facility. Construction has begun on the project, which will include three buildings totaling 615,572 square feet. The project will be able to accommodate tenants ranging in size from 25,000 to 236,000 square feet. The buildings will feature 32-foot clear heights, 38- to 42-foot dock high doors, tilt-up concrete panels, glass and a framed metal canopy at the building entrance. The project also includes 160 tractor-trailer stalls.
COLUMBUS, OHIO — EFL Expo Freight and TwinMed LLC have signed new leases at CreekSide Industrial Center in Columbus. The Pizzuti Companies and USAA Real Estate own the property. EFL Expo Freight has leased an additional 84,916 square feet at CreekSide XVI for a total lease of 155,871 square feet. TwinMed has leased 101,000 square feet at CreekSide XVI and XVIII. With warehouses in nine states throughout the country, TwinMed is a distributor of medical supplies. Mike Spencer of Lee & Associates represented EFL Expo Freight in the lease transaction, while Joel Yakovac of Colliers International represented TwinMed. Phil Rasey of Pizzuti represented ownership in both lease transactions.
TAMPA, FLA. — Cushman & Wakefield has arranged the $27 million sale of Tampa Bay Center, a 142,350-square-foot shopping center in Tampa. Jason Donald, Patrick Berman and Todd Tolbert of Cushman & Wakefield arranged the transaction on behalf of the seller, Five RE Tampa Bay Center LLC. Equity Management Partners LLC acquired the property. The previous ownership invested $5 million to renovate the center, which was formerly anchored by Kmart. Tampa Bay Center was 97 percent leased at the time of sale to tenants such as Ashley HomeStore, Floor & Décor, The Tile Shop, Dollar Tree, Metro PCS and a freestanding WingHouse restaurant.
KNOXVILLE, TENN. — The Shopping Center Group (TSCG) has arranged the sale of South Grove, an 89,021-square-foot retail center located near the entrance to Smokey Mountain National Park in Knoxville. Broad Reach Retail Acquisition Co. LLC acquired the asset. Other terms of the deal were not disclosed. A 44,029-square-foot Food City anchors the center, which is also home to Pet Supplies Plus, Great Clips and Gondolier. Lowe’s Home Improvement shadow-anchors the center. South Grove includes a vacant 15,150-square-foot space formerly occupied by Goody’s, offering a value-add opportunity for the new ownership, as well as a two-tenant outparcel building totaling 5,900 square feet. Broad Reach Retail also acquired three undeveloped parcels totaling seven acres adjacent to the property for future expansion.
MT. JULIET, TENN. — Go Store It has acquired A+ Self Storage, a 685-unit self-storage facility in Mt. Juliet, roughly 20 miles east of Nashville. The property totals more than 90,000 square feet and marks Go Store It’s third acquisition in the Nashville metropolitan area this year. The name of the seller and the sales price were not disclosed. Based in Charlotte, Go Store It specializes in the acquisition, development and management of self-storage assets throughout the country. The company currently has more than 2 million square feet of storage space under management and in the construction pipeline.
LINCOLN, NEB. — NorthMarq Capital has arranged a $3.5 million loan for the refinancing of Lincolnshire Office Park in Lincoln. The four-building property spans 52,620 square feet and is located at 1530 S. 70th St. Steve Ruff of NorthMarq arranged the loan, which is fully amortized over 18 years. A life insurance company provided the loan. The borrower was not disclosed.
OVERLAND PARK, KAN. — Parisi Café and Evolve Juicery & Kitchen have signed leases to occupy a combined 4,135 square feet of ground-level retail space at The Vue in Overland Park. Hunt Midwest is developing the $49 million apartment project. Parisi will occupy 2,293 square feet, including a 400-square-foot outdoor patio. Upon opening in early 2019, the café will serve espresso and coffee drinks, pastries, sandwiches and soups. This is the brand’s second location in metro Kansas City. Evolve will offer a selection of freshly prepared meals, side dishes and organic juices in its 1,842-square-foot space. The Vue will include 219 apartment units above 8,650 square feet. Residents are scheduled to begin moving into the property in December.
SACRAMENTO, CALIF. — Ridge Capital has completed the sale of Creekside Oaks, an office complex located at 1740, 1750 and 1760 Creekside Oaks Drive in Sacramento. An undisclosed buyer acquired the property in a 1031 exchange for $32.2 million. Kevin Partington, Ron Thomas, Bruce Hohenhaus, Chris Schwarze, Seth Siegel, Steven Hermann, Eric Fox, Adam Lasoff and George Eckard of Cushman & Wakefield’s Sacramento and Bay Area offices represented the seller in transaction. Originally built in the late 1980s and early 1990s, the three-building property underwent significant interior and exterior renovations within the past decade to include revamped commons areas, high-end tenant improvements, mechanical upgrades and new rooftops on all buildings. At the time of sale, the 178,694-square-foot asset was 99 percent leased to a variety of tenants in healthcare, technology and financial services sectors.
NOVATO, CALIF. — NKF Capital Markets has arranged the sale of Rowland Plaza, located at 75 and 88 Rowland Way in Novato. Buchanan Street Partners sold the asset to Pinnacle Capital Management Services and Harrison Street for an undisclosed price. The property features 142,856 square feet of office and medical office space spread across two three-story buildings. At the time of sale, the asset was 82 percent leased to 12 tenants representing medical, finance, government and software firms. Grant Lammersen, Steven Golubchik, Edmund Najera and Tyler Meyerdirk of NKF Capital Markets represented the seller in the deal.
