MCKINNEY, TEXAS — KDC and the McKinney Economic Development Corp. (MEDC) will develop Southgate McKinney, a mixed-use project that will be located at the interchange of U.S. Highway 75 and the Sam Rayburn Tollway in McKinney. The size of the property has yet to be determined, but site proposals include plans for freestanding office space, retail and restaurant space, multifamily residences and two acres of common space with a stage for performances.
BEDFORD, TEXAS — ARA Newmark has brokered the sale of Cottages at Bedford, a 168-unit apartment community located at 2000 Park Place Blvd. in the Dallas-Fort Worth metro of Bedford. Amenities of the property, which was built in 1983 and renovated in 1987, include a pool, business center and resident clubhouse. The buyer and seller were not disclosed.
DALLAS — Mujeres Banderas III, a partnership between Commercial Real Estate Women Dallas and San Francisco, has sold a 16,000-square-foot warehouse property located on Duncanville Road in south Dallas. The property was the last asset owned by the Mujeres Banderas partnerships. The buyer and sales price were not disclosed.
DALLAS — Eko Construction has received $1.9 million in construction financing for Bishop Arts Townhomes, a residential rental community in Dallas. The two-phase project will deliver 24 units averaging approximately 1,500 square feet per unit. Charley Babb and Justin Laub of Metropolitan Capital Advisors placed the loan through an undisclosed lender.
IRVING, TEXAS — Stream Realty Partners has negotiated an office lease expansion at 1320 Greenway in Irving on behalf of The Clay Paul Group, an insurance brokerage firm. The lease expands the company’s footprint to 4,677 square feet, roughly double the size of its previous space. Tyler Maner of Stream represented the tenant in the negotiations. Jeff Wood of Peloton represented the landlord, Arden Group.
UNION CITY, GA. — Newmark Knight Frank (NKF), in collaboration with British counterpart Knight Frank, has negotiated a 1 million-square-foot industrial lease for ASOS, a London-based fashion retailer, in Union City, roughly 18 miles south of Atlanta. The online fashion retailer is investing approximately $40 million in the new fulfillment center at Majestic Airport Center IV along South Fulton Parkway. The facility will create 1,600 jobs upon completion and have a 10 million-unit capacity. Catered toward the millennial shopper, ASOS carries over 850 brands and features 85,000 products online, with 5,000 new items added each week.
WASHINGTON, D.C. — Trammell Crow Co. (TCC), along with Fort Lincoln New Town Corp. and CSG Urban Partners, have signed five new tenants at the Shops at Dakota Crossing, a 430,000-square-foot retail center located at 2438 Market St. N.E. in Washington, D.C. Chick-fil-A, Mecho’s, Dominican Kitchen, Jersey Mike’s and the Transit Employees Federal Credit Union signed long-term leases at the center, bringing total occupancy to 91 percent. The retailers are expected to open later this year. Over the past four months, tenants including Panda Express, Visionworks, T-Mobile, Vitamin Shoppe and Starbucks Coffee have signed leases at the center, which is also home to larger tenants including Costco, Lowe’s Home Improvement, Dick’s Sporting Goods, Marshalls and PetSmart. Lisa Stoddard and Abby Davids of CBRE are responsible for the property’s leasing assignment.
TAMPA AND ST. PETERSBURG, FLA. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $16.1 million sale of a two-property industrial portfolio in the Tampa Bay area — Airport Corporate Center, located at 6702-6712 Benjamin Road in Tampa, and Bay Tec Center, located at 2810-2880 Scherer Drive in St. Petersburg. Douglas Mandel of IPA arranged the transaction on behalf of the seller, Massachusetts-based Calare Properties. The IPA team also procured the buyer, California-based Avistone. The properties include 14 buildings totaling 231,867 square feet.
JACKSON, TENN. — Chase Properties Ltd. has acquired The Columns, a 268,000-square-foot shopping center in Jackson. The shopping center is home to tenants including Ross Dress for Less, Best Buy, Old Navy, Marshalls and Bed Bath & Beyond. Kohl’s, Ulta Beauty, Dick’s Sporting Goods and Hobby Lobby shadow-anchor the property. Retail Properties of America Inc. sold the asset for an undisclosed price. Disney Investment Group brokered the sale. The transaction marks Beachwood, Ohio-based Chase Properties’ third acquisition in the past year.
PEACHTREE CORNERS, GA. — Redline Property Partners has purchased 2 Sun Court, a 98,000-square-foot office building in Peachtree Corners, a city roughly 23 miles north of Atlanta. The sales price was not disclosed. MidCap Financial provided financing for the acquisition. Redline plans to rebrand and renovate the property, including developing additional amenity space on the property’s excess land. Grover Corlew will manage the property, and Matt Davis and Matt Fergus of Lincoln Property Co. will handle the leasing assignment. The acquisition marks Atlanta-based Redline’s first investment in its home market.
