VIRGINIA BEACH, VA. — Divaris Real Estate Inc. has arranged a 39,000-square-foot office lease within Town Center of Virginia Beach, a 17-block mixed-use development in Virginia Beach. The tenant, Mythics Inc., an Oracle systems integrator and consulting firm, will occupy the top floor and majority of the eighth floor of a LEED-certified office building located at 4525 Main St. Mythics retained Vivian Turok of Divaris Real Estate to represent the firm in its search for new corporate headquarters. Mythics will relocate 143 full-time employees to the new headquarters, with plans to create an additional 30 full-time positions. Michael Divaris and Krista Costa, also with Divaris Real Estate, represented the landlord, TCA Block 11 Office LLC, in the lease deal. Town Center of Virginia Beach features seven office buildings totaling 900,000 square feet of office space, including 4525 Main, which was 95 percent leased at the time of the lease.
ADDISON, TEXAS — The Connor Group has sold The Villages of Addison, a 264-unit property in Addison, a northern suburb of Dallas. Adveni Inc, a South Florida-based multifamily investment firm, purchased the asset for an undisclosed price. HFF’s Roberto Cassas, Bill Miller, Greg Toro and Rob Key marketed the property, located at 17671 Addison Road, on behalf of The Connor Group, a real estate firm specializing in luxury apartments. Josh Simon, Eric Tupler and Andy Scott of HFF arranged financing on behalf of Advenir.
GARLAND, TEXAS — Marcus & Millichap has brokered the sale of Northstar Crossing Shopping Center, a 67,509-square-foot retail center in Garland. Located at 1120-1332 Belt Line Road near North Garland Avenue, the property was 82 percent leased at the time of sale. Lisa Estrada of Marcus & Millichap represented the seller, an undisclosed limited liability company, in the transaction. The buyer’s name and brokerage representation were not disclosed.
KATY, TEXAS — Thor Equities has signed leases with three new retailers totaling 7,150 square feet at The Shoppes at Cinco Ranch, a 183,700-square-foot retail center under construction within Cinco Cranch, a 8,100-acre master-planned development in the western Houston suburb of Katy. Yao Chen of World Wide Realty represented Super Yummy Mongolian Stir-Fry and Sushi, which has leased 2,610 square feet, while Lasater Miller of The Retail Connection represented salad bar restaurant Salata, which has leased 3,000 square feet. Kristen Barker of Wulfe & Co. represented beverage producer Bambu, which has leased 1,540 square feet. George Stanchfield of Thor Equities represented the landlord internally in all three transactions.
FORT WORTH, TEXAS — Trademark Property Co. has announced the addition of Bartaco to WestBend, its mixed-use development in Fort Worth’s university district. Of WestBend’s 670,000 square feet of retail, multifamily and office space, the Latin-themed eatery, operated by Barteca Restaurant Group, will occupy 4,853 square feet overlooking the Trinity River. The deal is part of WestBend’s Phase II expansion of WestBend onto a 3.5-acre tract south of the property.
MCLEAN, VA. — The Meridian Group has purchased Tysons Metro Center, a 763,965-square-foot development of Class A office space in McLean’s Tysons district, roughly 17 miles west of Washington, D.C., from an affiliate of Beacon Capital Partners for $227 million. The portfolio consists of four buildings: Tysons Metro Center I, a 168,006-sqaure-foot, 12-story building constructed in 1984 and renovated in 2012, features a rooftop terrace with outdoor seating, a fitness center and an on-site deli; Tysons Metro Center II, A 129,926-square-foot, six-story property built in 2002 and revamped in 2015, offers an exterior patio and a lounge and gaming center for workplace collaboration; Tysons Metro Center III, a 257,824-square-foot, 12-story site that was erected in 1980 and underwent $18.1 million in improvements in 2014, boasts a 2,800-square-foot café and locker rooms with showers; Tysons Metro Center IV, a 208,219-square-foot, 13-story building, was built in 1999 and later renovated. The four buildings share several amenities, most notably a tenants-only sports court equipped for basketball, short-court tennis and volleyball. The properties span the 8251-8285 stretch of Greensboro Drive, close to the Greensboro Metro station and two malls, Tysons Galleria and Tysons Corner Center. The complex is adjacent to two properties already owned …
While Florida as a whole was able to bounce back from the Great Recession relatively quickly, one market that had been lagging behind in that recovery was Jacksonville. However, a surge of new development and strong population growth has kicked Jacksonville’s retail market back into high gear. Occupancy rates have gone up year-over-year to 91.1 percent and the retail sector currently has 748,000 square feet of new space under construction, according to JLL’s 2016 Florida Retail Report. While this infusion of new space may have a small squeeze on asking rates — currently at $13.24 per square foot — the outlook for Jacksonville’s retail market remains strong. The St. John’s Town Center has had a transformative effect on the Northeast Florida market over the past decade. The shopping center saw huge success when it first opened its doors in 2005 and was relatively immune to the effects of the downturn. As the economy started to trend upward, the St. Johns area saw even greater shopper traffic and with that came expansion; in fact most of the 748,000 square feet of retail space currently under construction is in the St. Johns area. As St. John’s continues to fuel Jacksonville’s retail market, …
DALLAS — Stoneleigh Cos. has opened One Uptown, a 20-story, 196-unit high-rise apartment building on McKinney Avenue in Uptown Dallas. With more than 18,835 square feet of retail space, the complex currently houses Brazilian steakhouse Fogo de Chao and will lease space to Circo, a five-star European restaurant, this summer. OneUptown’s amenities include a rooftop pool, private fitness studio, entertainment room, lounge, and a demonstration kitchen. Move-ins began on February 18.
ADAIRSVILLE, GA. — Shaw Industries Group Inc., a carpet manufacturer, has opened its new $85 million carpet tile manufacturing facility located in Adairsville. Known as Shaw Plant T1, the property employs 170 associates and will create 500 new jobs once it reaches full capacity. The facility provides production capabilities for Shaw’s Patcraft, Philadelphia Commercial and Shaw Contract brands of carpet. The company also operates facilities in Cartersville, Ga., and Nantong, China.
BELMONT, N.C. — Ramey Miller Properties plans to deliver Belmont Town Center, a 105,000-square-foot, grocery-anchored shopping center in the Charlotte suburb of Belmont this fall. Harris Teeter will anchor the center, which will also include a Harris Teeter Fuel Station. Coldwell Banker Commercial MECA is handling the leasing assignment of Belmont Town Center on behalf of Ramey Miller and has arranged leases with Collins Cleaners, Great Clips, Vitamins 4 Less, Jersey Mikes, Marcos Pizza and I Color Nail Bar. Ramey Miller is also building single-family and multifamily residences adjacent to Belmont Town Center.