FORT LEE, N.J. — Marcus & Millichap has brokered the $4.5 million sale of 201 Main St., a 9,500-square-foot retail property located Fort Lee. Greg Babaian, Michael Lombardi and Steven Schiavello of Marcus & Millichap’s New Jersey office marketed the property on behalf of the seller, a private investor. The team also secured and represented the buyer, another private investor.
NEW YORK CITY — Eastern Consolidated has arranged a lease for Viand Cafe at 517 Columbus Ave. in Manhattan. The restaurant has operated a location in the Hotel Beacon at 2130 Broadway for more than 15 years. The restaurant is taking a 1,856-square-foot space at the corner of 85th Street and Columbus Avenue previously occupied by Jackson Hole restaurant, which closed last year. Eastern Consolidated’s Ben Biberaj and Harris Bulow represented Viand Café in negotiating a 15-year lease for the retail space, which includes 70 feet of frontage and a 490-square-foot basement. Rafe Evans and Eric Fisher of Walker Malloy & Co. represented the landlord, Shared Equities LLC.
HOUSTON — Berkadia has secured approximately $130 million in financing for H7, a seven-property multifamily portfolio in Houston. Totaling more than 2,000 units of Class B space, the portfolio had an average occupancy rate of 93 percent at the time of the loan closing. Ed Kim of Berkadia secured the floating-rate loan with a 75 percent loan-to-value ratio through an undisclosed CMBS lender.
DALLAS — AECOM, a global engineering firm, will relocate its regional headquarters to One Galleria Tower, a 25-story office complex located at 13355 Noel Road in Dallas. More than 250 employees will inhabit the 30,050 square feet of office space, which features an open floor plan with updated furnishings as well as more collaborative space. The firm expects to complete the move by the end of the year.
ARLINGTON, TEXAS — NXT Capital has provided a $31.5 million first mortgage loan for the acquisition of a 246-unit, Class A multifamily community in Arlington. The property is located between the junction of State Highways 183 and 360 and the intersection of Interstates 30 and 820. Mark Brandenburg of JLL arranged the financing on behalf of the undisclosed borrower.
CARROLLTON, TEXAS — Lee & Associates has negotiated a 38,282-square-foot industrial lease at 1624 W. Crosby Road in Carrollton. Ken Wesson and Adam Graham of Lee & Associates represented the landlord, EastGroup, in the lease negotiations. Nick Lee of NAI Robert Lynn represented the tenant, Transitions Group, a Kansas-based furniture and housewares supplier.
MOBILE, ALA. — Hutton Co. has sold McGowin Park, an approximately 375,000-square-foot, open-air shopping center located at 3075 Government Blvd. in Mobile. Cole Credit Property Trust IV Inc. purchased the asset for $77.8 million. Completed in 2016, McGowin Park’s tenant roster includes Dick’s Sporting Goods, Field & Stream, HomeGoods, Ross Dress for Less, Hobby Lobby, Best Buy, Old Navy, Petco, Ashley Furniture HomeStore and Dollar Tree. The center is shadow-anchored by Costco and Regal Cinemas and features additional development opportunities with three outparcel pads and two restaurant pads. Richard Reid and Jim Hamilton of HFF represented Hutton Co. in the transaction. Kevin MacKenzie and Mark Sixour of HFF arranged a $42.8 million, seven-year, fixed-rate acquisition loan through a life insurance company on behalf of Cole Credit Property Trust IV.
OLIVE BRANCH, MISS. — IDI Gazeley plans to develop two industrial facilities totaling nearly 2 million square feet within Crossroads Distribution Center in Olive Branch, a Mississippi suburb of Memphis. IDI Gazeley has broken ground on Building I for an expected November delivery. The next facility, Building J, is slated to span nearly 1.1 million square feet and is scheduled to start construction in mid-2018. Crossroads is currently home to 11 buildings totaling more than 6 million square feet of logistics space. Building I will feature a Ductilcrete floor slab and paving, 36-foot clear heights, R-19 roof insulation and a white TPO roof. JLL will be the listing agent for Crossroads I. IDI Gazeley has over 27 million square feet developed in the metro Memphis market.
HOLLY SPRINGS, N.C. — Kite Realty Group Trust has selected Hendrick Construction to expand Holly Springs Towne Center, a Target-anchored shopping center located at the intersection of N.C. 55 and New Hill Road in the Raleigh suburb of Holly Springs. The Charlotte-based general contractor will expand the retail center by 22,250 square feet to make way for retailers such as 02 Fitness. Existing tenants at Holly Springs Towne Center include Marshalls, Pier 1, Ulta Beauty, Dick’s Sporting Goods, Petco, Michaels, Bed Bath & Beyond, DSW and a nine-screen AMC Theatres location. Hendrick Construction expects the additional space to be ready for interior buildout this summer.
ORLANDO, FLA. — Franklin Street has brokered the $22 million sale of 195 units at Grand Reserve at Kirkman Parke, a 390-unit multifamily community located at 3301 S. Kirkman Road in Orlando. The gated property is a “fractured” condominium community, with half of the units for-sale. Built in 2000 on 22 acres, the property features one- to four-bedroom layouts with resort-style amenities including a pool, clubhouse, heated spa, movie room, fitness center and a business center. ESG Equities purchased the units from Miami-based Argenpart LLC. Darron Kattan, Kevin Kelleher, Zachary Ames and Robert Goldfinger of Franklin Street’s Tampa office represented the buyer in the transaction.
