JACKSONVILLE, FLA. — Newmark Grubb Phoenix Realty Group (NGPRG) has arranged a new 400,928-square-foot industrial lease at Northport Logistics Center, a nearly 900,000-square-foot facility located at 11530 New Berlin Road in Jacksonville. Dan Stover, Bryan Bartlett and John Richardson of NGPRG represented the landlord, Real Capital Solutions, in the lease deal. The tenant, Jacksonville-based Grimes Logistics Services Inc., will use the space for warehouse storage and distribution. Grimes Logistics is a third-party logistics company founded in 1972. NGPRG is actively marketing the remaining 471,699 square feet of space at Northport Logistics Center for lease.
MCDONOUGH, GA. — GBT Realty Corp. has purchased a 7.6-acre site along State Route 20 in the south Atlanta suburb of McDonough from OTS Capital and Masters Living Trust. The site will house a new 71,000-square-foot shopping center anchored by Burlington. The $14 million center will also feature Pet Supermarket, Tuesday Morning, an additional junior anchor and 6,400 square feet of shop space. Brentwood, Tenn.-based GBT Realty expects to break ground in the near future and deliver the shopping center later this year.
ATHENS, GA. — CBRE has brokered the sale of Archer on North Apartments, a 140-unit multifamily community located at 210 Spring Court in Athens, a little more than a mile from the University of Georgia. Atlanta-based QR Capital purchased the asset for an undisclosed price. Built in 1984 and renovated in 2012, Archer on North features a new clubhouse, outdoor pool and fitness center. The community was 98 percent occupied at the time of sale. Brad Simmel of CBRE represented the seller, Archer On North LLC, in the transaction.
MIAMI — MetLife Real Estate has secured LEED certification for three of its office buildings within Waterford at Blue Lagoon, a Class A office park in Miami. The assets include 6505 Waterford, a 166,996-square-foot property built in 1996; 6100 Waterford, a 162,878-square-foot building developed in 1991; and 6303 Waterford, a 165,996-square-foot building developed in 1993. The buildings earned the designations following MetLife Real Estate’s five-year, $3.5 million capital improvement campaign, which included restroom renovations, new marble lobby floors, Energy Star-rated roof replacements, new LED light fixtures in the atriums and the parking garage, resurfacing of the parking garage deck and a new fitness center. The U.S. Green Building Council awarded 6505 Waterford LEED Gold v4 Operations and Maintenance: Existing Buildings and LEED Silver v4 Operations and Maintenance: Existing Buildings for both 6100 Waterford and 6303 Waterford. Cushman & Wakefield’s asset services team of Peter Romero, Danny Wong, Jacky Hernandez and Maria Meyer, as well as engineers Rafael Lopez, Carlos Padilla and Javier Castro, collaborated with MetLife Real Estate in procuring the LEED designations.
ARCADIA, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the sale of Arcadia Gateway Center, a retail, medical and office property located at 300-450 E. Huntington Drive in Arcadia. JLJ (USA) Investment acquired the property for $62 million. Situated on 7.9 acres, the five-building complex features 156,046 square feet of retail, office and medical space. At the time of sale, the 43,587-square-foot retail portion was 91 percent leased, the 48,455-square-foot medical office building and the 64,013-square-foot office building were 100 percent. The complex also features two freestanding restaurant pads leased to BJ’S Restaurant and Brewhouse and Olive Garden. Ed Hanley, Pat Kent and Corey Olson of Hanley represented the sellers, Arcadia Gateway Centre Delaware Partners and Post Exchange, while Henry Hong of Lee & Associates represented the buyer in the deal.
CHULA VISTA, CALIF. — NorthMarq Capital has arranged a $38 million refinancing for a 374,645-square-foot retail property in Chula Vista. Mike Dobbins of NorthMarq secured the 15-year loan, which features a 25-year amortization schedule, for the undisclosed borrower.
CONCORD, CALIF. — Marcus & Millichap has arranged the sale of a formerly net-leased Sizzler restaurant property located at 1353 Willow Pass Road in Concord. A private investor sold the property to an undisclosed buyer for $3.3 million. Constructed in 1977, the 5,901-square-foot building was vacant at the close of escrow. The site’s corner lot also features 70 parking space. David Ching of Marcus & Millichap represented the seller in the transaction.
SAN DIEGO — Location Matters has arranged the acquisition of an urban retail building located at 4081-4087 30th St. in San Diego’s North Park neighborhood. George McKeever purchased the property from Cheryl Keller, for $1.3 million. The 2,516-square-foot building features four retail units. Limor Spilky and Marc Karren of Location Matters represented the buyer, while Jac Sachs of Ascent Commercial represented the seller in the deal.
SACRAMENTO, CALIF. — Armstrong Development Properties has announced the opening of Raley’s Supermarket at Fair Oaks Plaza, located at the northwest corner of Fair Oaks Boulevard and Howe Avenue in Sacramento. Slated to open in April, Raley’s Supermarket and Starbucks will join the retailers at the new center, which commenced construction in 2015. Upon completion, the property will be home to a variety of tenants, including Grub Burger Bar, KB Nails and CVS/pharmacy.
OMAHA, NEB. — Jasper Stone Partners has received preliminary governmental approval for Avenue One, a $1.2 billion mixed-use development in west Omaha. The Omaha Planning Board unanimously approved the nearly 200-acre project this week, according to the Omaha World-Herald, the local daily newspaper. Avenue One will be located south of 192nd and Dodge streets. The development will feature office, retail, residential, hotel and civic spaces, as well as public green spaces and walking trails. Jasper Stone plans to break ground later this year on the project, which will consist of 1.3 million square feet of office and retail space, and more than 2,000 residential units. Phase I of construction is slated for completion in late 2018. Avenue One will be one of the largest projects of its kind in Omaha and is expected to have an annual economic impact of more than $1 billion, according to a news release from the developers. Jasper Stone is working with Block Real Estate Services LLC during the master planning phase. Other participants in the project include HOK for architecture and land planning, Omaha-based Olsson and Associates for engineering and design, Pansing Hogan Ernst & Bachman and Husch Blackwell for legal services and Pinnacle …