LAKEWOOD, COLO. — Pinnacle Real Estate Advisors has arranged the sale of Colfax & Kipling Center, a 6,518-square-foot retail center located in Lakewood for an undisclosed price. The property is fully leased to Starbucks Coffee, Kolache Factory and Cricket Mobile. Rob Edwards and Tom Ethington of Pinnacle brokered both sides of the off-market transaction.
SEATTLE — Data storage systems provider Qumulo has expanded to 75,000 square feet of space at Century Square in downtown Seattle. The space is located at 1501 4th Ave., between the South Lake Union and the financial district. Laura Ford and David Abbott of Colliers International represented the landlord.
SLIDELL, LA. — Stirling Properties and CBL & Associates Properties Inc. have added four new retailers to Phase II of Fremaux Town Center, a regional shopping and entertainment destination totaling more than 630,000 square feet in Slidell, a suburb of New Orleans. The project is located on more than 80 acres at the southwest corner of I-10 and Fremaux Avenue. The new tenants joining Fremaux this spring include Books-A-Million (7,500 square feet), Allure Nail Spa (1,944 square feet), LensCrafters (3,830 square feet) and 5 Below (8,024 square feet). Additionally, Springs at Fremaux Town Center, a 296-unit apartment complex, is expected to deliver in March. Other previously announced tenants joining this year include Pier 1 Imports, Capital One, Aveda, Goodyear and Chico’s. Tesla Motors has also completed installing eight charging stations at the development. Existing tenants of Phase II include Red Robin, Zales, Francesca’s, Off Broadway Shoe Warehouse, Victoria’s Secret, Buckle, Charlotte Russe, LOFT, Bath & Body Works, Journeys, Claire’s and Which Wich.
DENVER — Massage Heights, a leader of therapeutic massage and facial services, opened nearly two dozen locations in 2015. Ramping up franchise expansion, Massage Heights plans to open 40 locations this year and have 300 open by the end of 2018. As part of its growth strategy, the brand plans to develop franchised locations in cities like Denver, San Diego and Las Vegas in 2016. Additionally, Massage Heights is seeking area developers to grow the brand in Sacramento, Calif., Los Angeles and Salt Lake City.
JACKSON, MISS. — Capital One has provided an $11.8 million, fixed-rate Freddie Mac loan for the acquisition of Tracewood Apartments, a 280-unit apartment community in Jackson. Chad Thomas Hagwood of Capital One Multifamily’s Southeast office arranged the 10-year, fixed-rate loan on behalf of the borrower, StoneRiver Co. Brandon Pate of Capital One’s Birmingham office managed the deal on behalf of Capital One. The loan structure includes two years of interest-only payments followed by a 30-year amortization schedule.
GROVELAND, FLA. — CBRE has arranged a 144,000-square-foot industrial lease at 19925 Independence Blvd. in Groveland. The space is located within the former Circuit City distribution building that totals 706,500 square feet. David Murphy and Monica Perez Wonus of CBRE represented the landlord, Real Capital Solutions, in the lease transaction. Cameron Maness of Transwestern represented the tenant, Pathmark Transportation.
FORT MYERS, FLA. — Colliers International has brokered the sale of the 20,632-square-foot Shops at Jamaica Bay in Fort Myers. Central Line Properties purchased the center from New York-based Orbis Properties for $4.2 million. The property’s tenant roster includes AT&T, Allstate, Provident Jewelry, Zoom Tan, Rosati’s Pizza and Sports Bar, Merle Norman Cosmetics and Touch Salon. Built in 2007, the shopping center is located at the intersection of Tamiami Trail and Jamaica Bay Boulevard at 15245 Tamiami Trail.
KANSAS CITY, MO. — Schottenstein Property Group Inc. has acquired a 142,600-square-foot retail center in Kansas City for $17.5 million. Retail Properties of America Inc. sold the asset, Stateline Station, which is 85 percent leased. The property, constructed in 2004, is anchored by Marshalls, Cost Plus World Market and a separately owned Super Target. Other retailers include Petco, Tuesday Morning, Mattress Firm, Pier 1 Imports and Dollar Tree. The shopping center is located at the intersection of Highway 150 and West 135th Street in an affluent area of Kansas City where the average household income in a three-mile radius of the center is $130,141. Amy Sands, Barry Brown and Clinton Mitchell of HFF represented the seller in the transaction.
OVERLAND PARK AND SHAWNEE, KAN. — NorthMarq Capital has arranged a total of $13.3 million in refinancing loans for two multifamily properties in Kansas. Fiesta Square Apartments is located at 9551 W. 85th St. in Overland Park, and Haverford West Apartments is located at 11309 W. 75th St. in Shawnee. The two properties contain a total of 231 units and were built in 1972 and 1984 respectively. NorthMarq arranged financing for the undisclosed borrower through its relationship with Freddie Mac. The transactions were both structured with a 10-year term and 30-year amortization schedule. Greg Duvall of NorthMarq arranged the financing.
MILWAUKEE — Brennan Investment Group LLC has acquired a 119,040-square-foot, multi-tenant industrial property in Milwaukee for an undisclosed price. The warehouse and distribution facility is located within the Bradley Industrial Park at 8301 W. Parkland Court. The property was 95 percent occupied at the time of sale. The seller in the transaction was undisclosed.
