DALLAS — Mexican restaurant Mesero and gym chain Orangetheory Fitness will both open locations within the next 12 months in Victory Park, a 75-acre, mixed-use development in downtown Dallas. Both locations will be housed within a new building at Victory Park Lane and High Market Street, construction of which is near completion. The building will also house a Cinepolis Luxury Cinemas, 20,000 square feet of new retail space and The23, a 285-unit apartment community
OKLAHOMA CITY — CBRE has negotiated an 11,700-square-foot industrial lease at 3201 Cooke Way in Oklahoma City. Jason Hammock, Caitlin Mazaheri and John Lenochan of CBRE represented the landlord, Admiral Square Inc., in the transaction. Allan Meadors of Cushman & Wakefield represented the tenant, Atlas Brands LLC, a New York-based marketing firm.
NEW ALBANY, OHIO — RED Capital Partners has provided a $37.7 million loan for the construction of HQ Flats in New Albany, a northeast suburb of Columbus. CASTO is developing the 336-unit multifamily property, which will be located near the Hamilton Road and State Route 161 interchange. Terms of the non-recourse loan were not disclosed.
NAPERVILLE, ILL. — SVN | Chicago Commercial has arranged the sale of four retail buildings in downtown Naperville for $10.5 million. The buildings total 15,412 square feet and are located at 19-27 W. Jefferson Ave. Tenants at the buildings include Lululemon, Jimmy John’s, Adagio Teas, Francesca’s Collection and Cold Stone Creamery. Tim Franz of SVN represented the buyer, Jefferson Naperville LLC. The seller was not disclosed.
KIMBERLY, WIS. — Heritage Senior Living will open its 15th senior living community in Wisconsin at 825 Cobblestone Lane in Kimberly, east of Appleton. Aspire Senior Living will consist of 136 units and 140,000 square feet. The property will feature 45 independent living apartments, 48 assisted living apartments and 43 memory care suites. Independent living residents are expected to move in this June, followed by assisted living and memory care residents in July. Community amenities include two private dining rooms, a movie theater, a rehabilitation gym and pool, barber salon, pub, game room, bistro and convenience store. Rents for one-bedroom independent living units start at $1,990 a month, which includes parking, housekeeping and one meal a day.
DETROIT — Founders Brewing Co. has unveiled plans to open a taproom in the lower Cass Corridor neighborhood of Detroit. The 14,000-square-foot property will be located at 456 Charlotte St., directly behind the Detroit Masonic Temple. Construction is slated to begin this summer with a grand opening set to take place in winter 2017. The company will brew beers at this location, as well as serve year-round, seasonal and specialty beers on tap. Founders Brewing currently operates a taproom in Grand Rapids.
CHICAGO — Chase Bank will open a retail branch at the new Sienna apartment community located at 423 Ohio St. in Chicago’s Streeterville neighborhood. The branch will occupy 3,600 square feet on the ground floor and is slated to open this spring. Chase Bank will relocate from a branch approximately two blocks south. Sienna, which opened to residents in September 2016, consists of 50 apartment units. Golub & Co. and Diversified Real Estate Capital own the property.
GILBERT, ARIZ. — Abington Emerson Investments has purchased a 73,283-square-foot industrial property in Gilbert for $5.5 million. The property is located at 1405 N. Fiesta Blvd. It was built in 1998. CBRE will act as the leasing agent. The firm’s Barry Gabel, Chris Marchildon, Brian Raczynski, Tim Watters, Evan Koplan and Mike Parker represented the seller in this transaction.
INDIANAPOLIS — Duke Realty Corp. (NYSE: DRE) has agreed to sell its entire portfolio of medical office properties to Healthcare Trust of America (NYSE: HTA) for roughly $2.8 billion. The transaction is expected to close in stages by year’s end. The portfolio totals approximately 6.6 million square feet of gross leasable space across 78 properties. Of those, 71 are in-service buildings, five are under construction and two are holdings of unconsolidated joint ventures in which Duke has interests. The sale also includes two parcels of land totaling 16.5 acres. Collectively, the assets were 94 percent leased at the time of sale. According to Duke CEO Jim Connor, the transaction signifies the company’s effort to focus exclusively on industrial properties. “Monetizing our medical office business is accretive to our net asset value per share and creates a more simplified business model with improved transparency,” says Connor. “This represents a long-term benefit to our stakeholders while we position the company as a leading, pure-play industrial REIT.” Proceeds of the sale will be used to pay off $1.2 billion in existing debt, fund new industrial projects and to pay dividends to shareholders. The terms of sale call for Duke to provide $50 million …
ATLANTA — Atlanta-based Coro Realty Advisors has purchased The Shops at Spire, the final component of a portfolio in Midtown Atlanta comprising 87,905 square feet of ground-floor retail and over 600 parking spaces in five residential condominium buildings. Coro purchased the portfolio from The Loudermilk Cos., an Atlanta-based commercial real estate developer and owner. The purchase price was not disclosed, but the Atlanta Business Chronicle reports the portfolio traded for $47 million. The properties include retail space at 800 Peachtree, 805 Peachtree, Shops at Seventh, Shops at Spire and Shops at Viewpoint, as well as a nearby parking lot on Juniper Street. Tenants at these properties include Starbucks, BB&T, Einstein Brothers Bagels, Fresh 2 Order, World of Beer, Sprint and Atlanta’s first urban QuikTrip. When added to Coro Realty’s Gordon Biersch at 848 Peachtree St., the portfolio gives Coro Realty control over almost all of the public parking and retail on Peachtree Street between 5th and 7th streets. Kenny Holzer and Elliot Kyle of Skyline Seven brokered the sale of The Shops at Spire.
