AUSTIN, TEXAS — Equitable Commercial Realty (ECR) has negotiated a 16,444-square-foot lease on behalf of engineering firm Cobb, Fendley & Associates Inc. at Centennial Towers, an office property located at 505 E. Huntland Drive in Austin. Matt Levin and Jason Steinberg of ECR represented the landlord in the transaction. Jason Whittington of NAI Partners represented the tenant.
BLOOMINGTON, ILL. — Stage Equity Partners has acquired The Center for Outpatient Medicine (TCOM) in Bloomington for $14.5 million. The 45,150-square-foot multi-specialty outpatient surgical center is located at 2502 East Empire St. The property is 100 percent leased to TCOM, which is majority owned by Advocate Health Care and Carle Clinic as well as 18 physicians. Stage purchased the asset from the physician owners of TCOM in a sale-leaseback transaction. MB Financial provided the financing.
RAPID CITY, S.D. — Home2 Suites by Hilton Rapid City has opened near Interstate 90 at 621 WaTiki Way. The hotel features 107 suites with fully equipped kitchens. Amenities include complimentary Internet, laundry, fitness area and daily breakfast. Liv Hospitality LLC owns and manages the hotel.
JOLIET, ILL. — Peak Construction has broken ground on Building 14 in IDI Gazeley’s Rock Run Business Park in Joliet. The 291,728-square-foot speculative building will feature 36-foot clear heights, 38 dock doors, 234 parking spots and 88 trailer stalls. Completion is slated for this November. Peak teamed up with Sparks Architects Inc. and Jacob & Hefner Associates for civil engineering services on the project.
PERRYSBURG, OHIO — Reichle Klein Group has brokered the sale of a medical office building in Perrysburg, 11 miles south of Toledo, for $3.9 million. The 27,672-square-foot building is located at 1103 Village Square Drive. Marty Gallagher of Reichle Klein Group represented the seller, Walbridge Investors LLC. Silvana Graff of Sperry Van Ness represented the buyer, CHCT Ohio LLC.
FAIRFIELD, OHIO — Cooper Commercial Investment Group has arranged the sale of a net leased Starbucks property in Fairfield, a suburb of Cincinnati, for $1.7 million. The property was newly constructed in 2017 and includes an initial lease term of 10 years. Dan Cooper of Cooper Commercial represented the undisclosed seller. The buyer was based in Michigan.
ARLINGTON, VA. — Jefferson Apartment Group has acquired a 0.6-acre site at 40000 Fairfax Drive in Arlington’s Rosslyn-Ballston area for the development of a new high-rise apartment tower. The 22-story property will be situated at the corner of Fairfax Drive and North Quincy Street and feature 264 below-grade parking spaces and 8,260 square feet of ground-level retail space. The site is approved for up to 330 residential units. Planned amenities at the yet-to-be-named property include a rooftop swimming pool, fitness center, clubroom, rooftop outdoor lounge and 24/7 concierge services. Jefferson Apartment Group plans to break ground in the fourth quarter and pursue LEED Gold certification. The McLean, Va.-based developer is building the high-rise in a joint venture with Mitsui Fudosan America Inc. (MFA), a U.S. subsidiary of a publicly traded Japanese real estate company. MFA is providing equity to the project.
MAITLAND, FLA. — Pollack Shores plans to build a 237-unit lakefront apartment community in Maitland, a suburb of Orlando. The Atlanta-based developer will demolish the existing Maitland Shores, a vacant 1960s-era complex situated on Lake Avenue fronting Lake Gem. The new apartment community will feature a resort-style pool with an outdoor kitchen and a bar area, as well as a lighted biking and pedestrian trail that will connect to the City of Maitland’s trail east of the property. The development will also feature 20 private garages and a newly rebuilt fishing dock and gathering areas with fire pits. The project team includes architect Poole & Poole Architecture and general contractor Oxford Construction. Pollack Shores’ subsidiary, Matrix Residential, will manage the apartment community upon completion, which is expected to be 15 months after construction begins.
OCALA, FLA. — Earth Fare has opened its newest store today at Shady Oaks Shopping Center, a 260,419-square-foot retail center located at 2401-2499 S.W. 27th Ave. in Ocala. The Fletcher, N.C.-based organic grocer operates the 29,618-square-foot store, which features more than 4,000 non-GMO items and the Heirloom Organic Café, an organic salad bar, hot food bar and ready-to-go packaged meals. The Ocala store is the fifth Earth Fare in Florida and its 40th nationwide. RD Management recently wrapped up a $2.2 million renovation of the shopping center, which is situated on 25.5 acres.
SANDY SPRINGS, GA. — CBRE has arranged an 11,000-square-foot lease for Pontoon, a new brewery coming to Northridge Business Center in Sandy Springs, a northern suburb of Atlanta. The brewery will be located across the street from a Coca-Cola bottling plant on Dunwoody Place, situated directly between Ga. 400 and Roswell Road. Set to open in September, the first location for Pontoon will feature a large taproom and dockside décor, as well as tours, tastings, growler and crowler sales, events, live music and tailgates. Wesley Budd and Chris Irby of CBRE represented Pontoon in the lease transaction.
