Property Type

Greysteel Brokers $28.6M Sale of Grocery-Anchored Shopping Center in Baltimore

by John Nelson August 9, 2016

BALTIMORE — Greysteel has arranged the $28.6 million sale of Catonsville Plaza, a nearly 280,000-square-foot grocery-anchored shopping center located at 5457 Baltimore National Pike in Baltimore. The property was 99 percent leased at the time of sale to tenants such as Shoppers Food Warehouse, Dollar General, Planet Fitness, Planet Aid, Merchant’s Tire & Auto Centers, Forman Mills, Salontra Suites, DaVita Dialysis, Dunkin’ Donuts, Subway and Metro PCS. Gil Neuman led Greysteel’s retail team in representing the seller, an affiliate of Hutensky Capital Partners, and procuring the buyer, Mosaic Realty Partners.

August 9, 2016

Georgia Mixed-Use Southeast

Coro Realty Advisors Sells Village Place Brookhaven

by John Nelson August 9, 2016

BROOKHAVEN, GA. — Atlanta-based Coro Realty Advisors LLC has sold Village Place Brookhaven, a mixed-use development located on Dresden Drive in Brookhaven. The fully occupied property features nearly 35,000 square feet of ground-level retail space with luxury residential and office condominiums above. Tenants include restaurants Kaleidoscope and Verde. Chris Decoufle and Kevin Reavey of CBRE represented Coro Realty in the sale. Westwood Financial purchased Village Place Brookhaven from Coro Realty for an undisclosed price.

August 9, 2016

California Hospitality Mixed-Use Top Stories Western

Waldorf Astoria to Anchor 2 MSF Mixed-Use Complex in San Francisco

by Katie Sloan August 9, 2016

SAN FRANCISCO — Waldorf Astoria Hotels & Resorts — Hilton’s (NYSE: HLT) luxury hotel arm — has unveiled plans for the new Waldorf Astoria San Francisco, which will anchor a 2 million-square-foot, mixed-use complex located on Mission Street in San Francisco’s SoMa neighborhood. The hotel will occupy the first 21 stories of a mixed-use tower designed by architecture firm Foster + Partners. Hirsch Bedner Associates will be in charge of designing the interior. Amenities at the Waldorf Astoria San Francisco will include a spa and “Peacock Alley” restaurant offering San Francisco-inspired cuisine and libations. Development costs and a completion date for the project have yet to be announced. The new development will be located at the center of a vast redevelopment project surrounding the Transbay Transit Center. The Transbay Center District and Redevelopment Plans include more than 6 million square feet of new downtown office space; 4,400 units of new housing, 1,200 of which will be affordable; approximately 100,000 square feet of new retail space; and nearly 1,000 new hotel rooms. The redevelopment of the Transbay area will also incorporate more than 11 acres of new public parks and open space, including a 5.4-acre rooftop park at the Transit Center …

August 9, 2016

Mixed-Use Office Restaurant Retail Texas

SHOP Cos. Brokers $23.7M Sale of Mixed-Use Development in Richardson

by Haisten Willis August 8, 2016

RICHARDSON, TEXAS — SHOP Cos. has brokered the $23.7 million sale of Eastside, a 67,071-square-foot mixed-use retail and office property in Richardson. Eastside is located at the intersection of Campbell Road and U.S. 75. The property was 93.9 percent leased at the time of sale to tenants including 7-Eleven, Panera Bread, Scottrade, T-Mobile, Jersey Mike’s, Frost National Bank and Sport Clips. Tommy Tucker and Tim Axilrod of SHOP Cos. represented the seller, SG Retail Development Partners, a Dallas-based limited partnership, and procured the buyer, Retail Properties of America Inc., an Illinois-based corporation.

August 8, 2016

Office Texas

MYCON Begins Construction on $5.8M Spring Creek Medical Office Building in Plano

by Haisten Willis August 8, 2016

PLANO, TEXAS — MYCON General Contractors has broken ground on the Spring Creek Center Medical Office Building (MOB), located near the southwest corner of Spring Creek Parkway and the Dallas North Tollway in Plano. The $5.8 million project consists of site work and shell construction of the two-story, 48,000-square-foot facility. The project team includes owner/developer Haggard Property Group, owner’s representative Bjerke Management Solutions and project architect O’Brien Architects. The Spring Creek Center MOB is scheduled for completion in October.

August 8, 2016

Office Texas

M&M Arranges Sale of 35,061 SF Office Building in Rio Grande Valley

by Haisten Willis August 8, 2016

HARLINGEN, TEXAS — Marcus & Millichap has arranged the sale of West Jefferson Avenue Office, a 35,061-square-foot office property located in Harlingen. Kenneth Hartmann and Joshua Murphy of Marcus & Millichap’s San Antonio office marketed the property on behalf of the seller, a private investor. Murphy and Hartmann also secured and represented the buyer, an individual/personal trust. West Jefferson Avenue Office is located at 1820 W. Jefferson Ave. and consists of two separate buildings built in 1996 and 1998. Government tenants have been in place since construction.

August 8, 2016

Industrial Texas

Lee & Associates Negotiates 38,400 SF Industrial Lease in Grand Prairie

by Haisten Willis August 8, 2016

GRAND PRAIRIE, TEXAS — Lee & Associates has completed a new lease transaction for a 38,400-square-foot industrial space located at 1205 Post & Paddock in Grand Prairie. Reed Parker and Tom Walrich of Lee & Associates’ Dallas/Fort Worth office represented the landlord, Prologis. Canon Shoults and Matt McWilliams of Holt Lunsford Commercial represented the tenant, Omnilife USA Inc.

August 8, 2016

Retail Texas

The Woodmont Co. Arranges 23,798 SF Retail Lease in Beaumont

by Haisten Willis August 8, 2016

BEAUMONT, TEXAS — The Woodmont Co. has completed a 23,798-square-foot lease with Tuesday Morning at Parkdale Place, a 225,000-square-foot retail center located at 4150 Dowlen Road in Beaumont. Karen Mitchell of The Woodmont Co. represented the landlord, and Jonathan Hicks of SRS Real Estate Houston represented Tuesday Morning. Lowes Home Improvement anchors Parkdale Place, which includes four separately owned mid-size retail boxes and outparcels. The property is located on Dowlen Road across from Parkdale Mall.

August 8, 2016

Florida Retail Southeast

Walmart Supercenter Opens at Butler North Shopping Center in Gainesville

by John Nelson August 8, 2016

GAINESVILLE, FLA. — Wal-Mart Stores Inc. has relocated its Walmart Supercenter store from Butler Plaza to Butler North, a power shopping center that Butler Enterprises is developing along Clark Butler Boulevard in Gainesville. The new Walmart Supercenter is one of several retailers opening at Butler North this month. Butler North is currently 92 percent leased to tenants such as Sam’s Club, Dick’s Sporting Goods, Five Below, Lowes Home Improvement, Marshalls, Orangetheory Fitness and Longhorn Steakhouse. Butler Enterprises is also underway on Butler Town Center, an adjacent 350,000-square-foot pedestrian-oriented mixed-use project along Archer Road and I-75. Upon completion in 2018, the entire Butler development will span nearly 2 million square feet on 267 acres.

August 8, 2016

Florida Multifamily Southeast

Melo Real Estate Arranges $22M Sale of Apartment Complex in Broward County

by John Nelson August 8, 2016

TAMARAC, FLA. — Miami-based Melo Real Estate has brokered the $22 million sale of Jasmine at Tamarac, a residential community comprising 222 apartment residences and 69 privately owned condominiums in Tamarac, a city in South Florida’s Broward County. Only the rental apartments were included in the transaction. JAT Owner LLC purchased the rental residences from Elandis for $99,099 per unit. Elandis previously purchased the rental units in December 2012 for $15 million. Built in 1987, Jasmine at Tamarac underwent a condominium conversion program in 2006. Ronald Meyerson of Melo Real Estate and Tyler Minix of Avison Young brokered the transaction.

August 8, 2016

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