NEW YORK CITY — Target has signed a lease for 27,354 square feet of retail space at 500 E. 14th St. in the East Village. The retailer plans to open a flexible format store at the location within Extell Development Co.’s new mixed-use building. Target will occupy 9,649 square feet on the ground floor and 17,705 square feet on the lower level at the two-story, 56,610-square-foot building. The new Target location is slated to open in 2018. Robert Futterman, Ariel Schuster, Brandon Eisenman and Ike Bibi of RKF represented Extell, while Richard Skulnik and Peter Ripka of Ripco Real Estate Corp. represented the tenant in the deal.
WEBSTER, TEXAS — Allied Orion Group has been selected to manage The Falls at Clear Lake, a 400-unit apartment community located in Webster, roughly 25 miles southeast of Houston. The property, located at 801 E. Nasa Road 1, is owned by a joint venture between Oak Coast Properties LLC and Becker Properties. The complex offers newly renovated one- and two-bedroom apartments and townhomes with walk-in closets and alarm systems. Community amenities include two swimming pools, a playground, dog park, picnic area with grills and optional covered parking. A state-of-the-art fitness center, bocce ball court and a gazebo with an outdoor kitchen are all currently under construction.
COLLEGE STATION, TEXAS — BMC Capital has arranged a $5.3 million loan for the acquisition of Broadstone Ranch at Wolf Pen Creek, a student housing community located minutes away from Texas A&M University in College Station. The property offers one- and two-bedroom units with washers and dryers and bed-to-bath parity. The FHA/HUD 223(f) loan features an 85 percent loan-to-value ratio and a 3.9 percent interest rate fixed over 35 years. Hank Crane of BMC Capital’s Austin office secured the loan on behalf of an undisclosed borrower through correspondent agency lenders.
HOUSTON — Lee & Associates’ Houston office has arranged a 16,800-square-foot lease for distribution/warehouse space at 8811 Wallisville Road, Suite D in Houston. Justin Tunnell of Lee & Associates represented the tenant, Flamingos Vintage Kilo, a vintage clothing manufacturer. John Kruse of Holt Lunsford Commercial represented the landlord, Buckhead Houston Industrial Portfolio, in the lease deal.
MANSFIELD, TEXAS — Marcus & Millichap has arranged the sale of 1751 Broad Park Circle, an office property located in Mansfield between Dallas and Fort Worth. The 5,776-square-foot medical office building is situated on one-half acre at the corner of Broad Park Circle South and Regency Parkway in a medical office park. Philip Levy of Marcus & Millichap represented the seller, an unnamed developer, and secured the buyer, a private investor.
MCKINNEY, TEXAS — Wingstop is set to open a new 1,745-square-foot restaurant at The Shops at Eagle Point in McKinney. Britton Lankford of Bright Realty represented the tenant in the transaction, and Vy Le of Quine & Associates represented the undisclosed landlord. Walmart shadow anchors the shopping center, which is also home to tenants including Subway, Mooyah, SportClips Haircuts and Kelly-Moore Paints. An opening for the restaurant has yet to be announced.
DOWNERS GROVE, ILL. — Adelphia Properties has brokered the sale of a newly constructed retail building located at 1201 Ogden Ave. in Downers Grove. A private investor acquired the property from the undisclosed developer for $4.1 million. BMO Harris Bank and Chipotle Mexican Grill occupy the 5,305-square-foot building. Simeon Spirrison and George Spirrison of Adelphia Properties represented the buyer in the deal.
CHICAGO — Shopoff Realty Investments has acquired two creative loft office commercial buildings in Chicago for an undisclosed price. At the time of acquisition, the 87,270-square-foot property at 900 N. Franklin St. was 89 percent occupied. The 76,729-square-foot building at 224 N. Desplaines St. was 92 percent occupied. The name of the seller was not released.
DOWNERS GROVE, ILL. — Metro Commercial Real Estate has arranged the lease of retail space at Butterfield Plaza in Downers Grove. Skechers has leased 8,000 square feet at the retail property. Other tenants at the center include Ross Dress for Less, Catherines, Tuesday Morning and Half Price Books. This location will be Skechers’ 16th store in the Chicagoland market. Steven Baer of Metro Commercial Real Estate represented Skechers in the transaction. The name of the landlord was not released.
INDIANAPOLIS — Lee & Associates has brokered the lease of retail space at 6280 N. College Ave. in Indianapolis. An undisclosed lessee plans to open a 1,860-square-foot Pure Barre location at the site within The Broad Ripple Garage. Crystal Kennard and Scot Courtney of Lee & Associates represented the undisclosed landlord in the transaction.