CHARLOTTE, N.C. — Unison Realty Partners has purchased Johnston Road Plaza, a 79,508-square-foot grocery-anchored shopping center in Charlotte, for $15.3 million. The Boston-based firm purchased the asset from Westwood Financial. Berkeley Capital Advisors brokered the transaction. The 16-store shopping center was 98 percent leased at the time of sale to tenants such as Food Lion and Goodwill.
PHOENIX — AFS Technologies has renewed its lease for office space at Park One in Phoenix. The Class A space is located at 2141 E. Highland Ave., within the Camelback Corridor. It was built in 1982 and renovated in 2014. The retail and supply chain solutions company uses this space as its corporate headquarters. It has occupied the building since 2007. Craig Coppola and Bill Blake of Lee & Associates represented AFS. Matthew Kaufold of the same firm represented the landlord, McCarthy Cook & Co., in this transaction.
KERMAN AND CLOVIS, CALIF. — Retail California, a division of Pearson Realty, has arranged two retail leases totaling 5,300 square feet. In Kerman, Sally Beauty Supply inked a lease for 1,300 square feet of retail space at 14051 W. Whitesbridge Ave. from CFTNV Developments LLC. Lewis Smith of Retail California represented the landlord, while Doug Cords of Commercial Retail Associates represented the tenant in the transaction. In Clovis, AAA Insurance leased 4,000 square feet of retail space with Trading Post Shopping Center from DN Clovis LLC. Lewis Smith and Peter Orlando of Retail California represented the landlord, while Nick Rendino of Colliers International represented the tenant in the deal.
GREENSBORO, N.C. — Joubran Commercial Properties (JCP) has brokered the $2.6 million sale of a 2.4-acre parking lot and 5,500-square-foot restaurant building in downtown Greensboro. JJ Joubran of JCP represented the Atlanta-based buyer, Buckhead Investments LLC, in the transaction. Rich Mossman of CBRE | Triad represented the seller.
VALRICO, FLA. — Marcus & Millichap has arranged the $5 million sale of River Hills Plaza, a 34,500-square-foot shopping center located at 4325 Lynx Paw Trail in Valrico, a suburb of Tampa. Built in 2004, the property was 93 percent leased at the time of sale. James Medefind and Armando Rodriguez of Marcus & Millichap’s Tampa office represented the seller, a private investor, in the transaction. The buyer was a private investor from Canada.
VACAVILLE, LINCOLN, IRVINE AND WEST ROSEVILLE, CALIF. — Citivest Realty Services Newport Beach has arranged four leases for retail spaces totaling 7,546 square feet in California. Beach Hut Deli, a gourmet sandwich deli has signed a 10-year lease for 2,147 square feet within Vacaville Commons in Vacaville from R/M Vacaville Ltd.; a 10-year lease for 1,999 square feet at Lincoln Gateway in Lincoln from Lincoln Gateway Ventures; and a five-year lease for 1,600 square feet at Woodcreek Plaza in West Roseville from Woodcreek Plaza. Jim Donnell of Citivest Realty Services Newport Beach represented the tenant in each transaction, while Rick Martinez of CBRE Sacramento represented R/M Vacaville. Robb Osborne of TRI Commercial represented Lincoln Gateway Ventures and Scott Carruth of CBRE Sacramento represented Woodcreek Plaza in the transactions. Additionally, Images Luxury Nail Lounge inked a five-year lease for 1,800 square feet of retail space within Woodbury Town Center in Irvine. Donnell of Citivest represented the tenant, while Erin Drapkowski provided in-house representation for the landlord, The Irvine Company.
GRAND RAPIDS, MICH. — Lancaster Pollard has provided an $11 million, HUD-insured refinancing for Vista Springs Northview, an 88-unit assisted living community in Grand Rapids. The loan refinanced the first mortgage, which was a variable-rate loan, as well as other subordinate debt used to expand the facility in 2014. In addition to the refinancing, the loan will provide approximately $730,000 for facility repairs. Brendan Healy led the transaction for Lancaster Pollard.
OTSEGO, MINN. — Duke Realty Corp. will construct a 220,000-square-foot industrial facility for Wagner SprayTech Corp. in Otsego, approximately 33 miles northwest of Minneapolis. The building will be situated on 12.3 acres within the Gateway North Business Center. Wagner SprayTech, a company that develops and markets paint sprayers, applicators and decorating products, will use the facility as a warehouse and distribution center. Construction on the building will begin in the second quarter and delivery is slated for the fourth quarter of this year. The build-to-suit asset will feature 5,000 square feet of office space, 36-foot clear heights and has the capability to expand by 50,000 square feet. Wagner will relocate from its existing facility in Brooklyn Center once the new project is complete. Paul Bickford with Colliers International and Fred Hedberg with Paramount Real Estate represented Wagner in the transaction. Dan Swartz with CBRE represented Duke Realty.
BELOIT, WIS. — Hendricks Commercial Properties will develop a 105,000-square-foot speculative industrial building in Beloit, approximately 75 miles southwest of Milwaukee. Situated on 30 acres at the intersection of Willowbrook and State Line roads, the facility will be able to accommodate users 52,000 square feet and larger. The City of Beloit currently owns the land. The facility will feature 32-foot clear heights, 10 dock doors, two drive-in doors and 140-foot truck courts. The property will also have an expansion capacity of 420,000 square feet. The construction is slated to start this spring and be completed by this fall. Angus Young Associates is designing the building. Corporate Contractors Inc. will be the general contractor, and Chase Brieman of CBRE is marketing the development for lease.
WATERLOO, IOWA — HREC Investment Advisors has brokered the sale of a 79-room Holiday Inn Express in Waterloo, approximately 60 miles northwest of Cedar Rapids, for an undisclosed price. The hotel, located at 2127 La Porte Road, features a business center, fitness center, complimentary breakfast and indoor pool. The buyer and the seller were undisclosed. Ted Anka of HREC represented the seller in the transaction.
