BELTON, MO. — Marshalls, Party City, Petco and Five Below have opened as part of Belton Gateway’s second phase of construction. The $136 million, 47-acre mixed-use development is located west of Interstate 49 in Belton, about 20 miles south of Kansas City. Ross Dress for Less is scheduled to open later this spring. Developed by Christie Development, the property includes an Academy Sports + Outdoors and a Hobby Lobby as part of Phase I.
COLUMBUS, OHIO — Stonecrop Technologies has signed a 527,127-square-foot industrial lease to fully occupy a building located at 3500 Southwest Blvd. in Grove City, about 10 miles south of Columbus. The wireless systems deployment company will occupy the space for three years. Michael Linder of Colliers International brokered the lease transaction, according to Columbus Business First. Plymouth Industrial REIT Inc. owns the property and recently announced a new regional office in Columbus to serve its properties in Ohio and Indiana.
BROOKFIELD, WIS. — Founders 3 has negotiated a 51,700-square-foot industrial lease for The Community Warehouse Inc. in Brookfield, a suburb of Milwaukee. The property is located at 4837 W. Woolworth Ave. Joe Carollo of Founders 3 represented the landlord, Woolworth Development Group LLC, in the lease transaction. The tenant is a nonprofit, faith-based organization that offers home and facility improvement materials to individuals, businesses and organizations in Milwaukee’s Community Block Grant Development Zone.
ST. JOSEPH, MO. — FFO Home has opened a new 35,000-square-foot store in St. Joseph, which is located in northwestern Missouri. The Arkansas-based company will occupy the space in the former Big Bob’s Outlet store at 3715 N. Belt Highway. Tony DeTommaso and Mark McConahay of Block & Co. Inc. Realtors represented the landlord, BB St. Joe LLC, in the lease transaction. FFO Home, originally known as Furniture Factory Outlet, has nearly 50 stores in seven states.
DENVER, COLO. — Besyata Investment Group and The Scharf Group have acquired One Dartmouth Place, an apartment community located in Southeast Denver, for $65.5 million. The seller was not disclosed. BH Management will handle the day-to-day property management and leasing of the 418-unit property.
KIRKLAND, WASH. — The Wolff Company, an Arizona-based developer, has announced plans for Revel Kirkland, a 152-unit independent living community for seniors in the Seattle suburb of Kirkland. The five-story property will be located on the 12-acre site that formerly was home to LifeBridge Church. The project is scheduled for completion in 2019. Revel Kirkland is the 10th senior living community that The Wolff Company has developed since 2016. In 2018, the company plans to invest $300 million to $400 million annually in the development of new independent and assisted living communities, in addition to acquisitions.
GLENDALE, ARIZ., AND LITTLETON, COLO. — A joint venture between Advantage Storage and Harrison Street Real Estate Capital has acquired a two-property self-storage portfolio from a partnership between Wasatch Storage Partners and a private real estate fund advised by Crow Holdings Capital – Real Estate. The price was not disclosed. Together the properties total 147,521 square feet and 1,425 storage units. Both assets feature drive-up units, climate-controlled units, secure fencing with electric access control, 24-hour video surveillance and retail-oriented customer service offices. The portfolio includes the 96,950-square-foot, 955-unit self-storage facility located at 7910 E. Beardsley Road in Glendale, a Phoenix suburb; and the 50,571-square-foot, 470-unit facility located at 11645 W. Belleview Ave. in Littleton, a suburb of Denver. Brian Somoza and Steve Mellon of JLL brokered the sale.
VISALIA, CALIF. — NorthMarq Capital has arranged $29.3 million in financing for the construction of Quail Park at Shannon Ranch, a 120-unit seniors housing property in Visalia, located between Los Angeles and the Bay Area. Living Care Lifestyles, the Kaweah Delta Hospital and several local investors own the property. Living Care Lifestyles will operate the community upon completion in early 2019. Stuart Oswald of NorthMarq secured the five-year loan through a regional bank.
SUMNER, WASH. — Newport Beach, Calif.-based Bixby Land Co. has purchased an industrial building located at 1800 Fryar Ave. in Sumner. Panattoni Development sold the property, which is included within Seattle’s Kent Valley industrial submarket, for $18.7 million. Built in 2017, the 55,660-square-foot property is leased to Cummins Inc., a company that designs, manufactures and distributes engines and power generation products. The transaction represents part of a strategic investment initiative by Bixby to acquire $400 million in leased warehouse and distribution buildings in the Western United States over the next two to three years. Brett Hartzell of CBRE represented the seller, while Bixby was self-represented in the deal.
OXNARD, CALIF. — The Bascom Group LLC has acquired Tempo at RiverPark Apartments, a 235-unit multifamily property in the Southern California community of Oxnard, for $75.3 million. Constructed in 2016, the community is located within RiverPark, a 704-acre master-planned development that is home to residential units, elementary and middle schools, retail and entertainment options, community parks, jogging trails pedestrian paths, and playgrounds. In addition, Tempo at RiverPark is situated within walking distance of The Collection, a retail destination that houses tenants such as Whole Foods Market, Target, REI, H&M and Century Cinemas. “Tempo was a rare opportunity to acquire a core asset in a very desirable coastal market in Ventura County at a discount to today’s replacement cost,” says Scott McClave, senior principal of Bascom. “The quality of the asset, proximity to employment and market fundamentals were extremely attractive to us.” Tempo at RiverPark includes a mix of one-, two- and three-bedroom floor plans that feature stainless steel appliances, quartz countertops and custom tile backsplashes. Community amenities include a 24/7 fitness center, yoga and spinning rooms, coffee bar, swimming pool, poolside cabanas and outdoor grilling stations. “The community was built by a very reputable national developer and is well designed and …
