AURORA, COLO. — Matthews Retail Advisors has arranged the $4 million sale of Quincy Corners, a 15,765-square-foot shopping center located in the Denver suburb of Aurora. Patrick Toomey of Matthews represented the seller, Spirit Realty Capital, in the sale of the property to a private local investor. The Big 5 Sporting Goods-anchored center is fully occupied.
LOS ANGELES — Kennedy Wilson has arranged three leases for three fast casual poke restaurants: Hoke Poke, OkoPoki and Honeyfish Poke. Poke is a type of fish salad popular in Hawaiian cuisine. Hoke Poke signed a 10-year lease from Essex Portfolio for 1,200 square feet of space at 801 Hope St. in downtown Los Angeles. Hoke Poke plans to open in July with three more locations slated to open within the next year. OkiPoki inked a five-year lease from DTLA Development Group for 1,000 square feet of space at The Alexandria, located at 507 S. Spring St. in Los Angeles’ historic core. Honeyfish Poke opened a 1,100-square-foot location at 8850 Tampa Ave. in Northridge. The restaurant signed a five-year lease with 8850 Tampa Associates for the space. Honeyfish Poke is scheduled to open its second location in Westlake Village in May. Kennedy Wilson represented the landlords in each transaction.
PLEASANT PRAIRIE, WIS. — Majestic Realty Co. will develop a new 424,164-square-foot industrial facility at its Majestic Badger Logistics Center in Pleasant Prairie, approximately 40 miles south of Milwaukee near the Illinois border. The speculative building is the first of two new facilities that will add over 1.2 million square feet of space to the 88-acre site. The property will feature 36-foot clear heights, 50-by-52 foot bays, an ESFR sprinkler system, 111 trailer parking stalls, 292 car parking spaces and a 370-foot combined truck courtyard. The Class A building can accommodate four tenants and will be delivered by the end of this year.
WICHITA AND OVERLAND PARK, KAN. — Anthem Memory Care has acquired Morningside Place in Overland Park and Chisholm Place in Wichita, both 66-bed memory care communities, for an undisclosed price. JEA Senior Living previously operated the properties, which were both rebranded as Cypress Springs Alzheimer’s and Memory Support Residences. The acquisitions bring Anthem’s portfolio up to eight properties and mark the Oregon-based operator’s entry into Kansas. LTC Properties Inc., a healthcare REIT, financed the acquisitions. Anthem plans to invest $1 million in upgrades to the communities.
CRYSTAL, MINN. — Paster Properties has acquired a 5,000-square-foot outparcel for the development of a retail building with a drive-thru located in Crystal, approximately ten miles outside of Minneapolis. The property is currently part of a Target parking lot. Paster Properties is pre-leasing the space to multiple retail users. Construction is set to begin upon lease signing.
LIBERTYVILLE, ILL. — All American Containers of the Midwest has signed a long-term industrial lease for a 51,624-square-foot space at Bridge Point 94 Building 1 in Libertyville, approximately 40 miles northwest of Chicago. The lease brings the facility, located at 851-899 E. Park Ave., to 49 percent occupancy. Bridge Development Partners LLC, which delivered the building in the summer of 2015, is the landlord. All American Containers of the Midwest is expanding from a current location in Lake Forest, Ill. Keith Puritz of Avison Young, as well as Rob Wheeler, Juan Rodriguez and Sky Groden of Cresa, represented the tenant in the transaction. John Hauser, Michael Fonda and Hugh Williams of Avison Young represented Bridge Development.
CREVE COEUR, MO. — CBRE Group Inc. has arranged three new office leases at the former SSM building in Creve Coeur, a western suburb of St. Louis. The 42,000-square-foot building had been vacant for the previous two years, but is now 95 percent leased. All but 2,100 square feet is occupied. Midwest Geriatric Management leased 15,064 square feet, Argos Family Office LLC inked a deal for 14,854 square feet and Koven Technology will occupy 9,774 square feet. Argos Family Office will be the first tenant to move into its space in May, followed by Koven Technology in June and Midwest Geriatric Management in July. DCM Management Company LLC manages the property, located at 477 N. Lindbergh Blvd. The undisclosed owner plans to upgrade the common areas, lobby and restrooms, as well as, add a fitness center and coffee bar. The building was initially constructed as the headquarters for SSM Healthcare in 1991. SSM occupied the entire building until 2013. Artie Kerckhoff of CBRE represented the landlord in the transaction.
DURHAM, N.C. — Duke University plans to develop a $62 million hotel on its west campus in Durham. Located at 230 Science Drive, the 198-room JB Duke Hotel will feature two bars, a restaurant, landscaped courtyards and terraces, local décor and furnishings and a grand hall with a two-story glass wall. The hotel will also feature the 20,850-square-foot Thomas Executive Conference Center, which will comprise a 5,450-square-foot ballroom, multi-purpose spaces, two boardrooms, two 65-seat classrooms, pre-function spaces and a business center. Duke University’s MBA programs will use the hotel and conference facilities for working professionals and non-degree executive education courses hosted by the school’s Fuqua School of Business. The hotel will be within walking distance of Cameron Indoor Stadium, Wallace Wade Stadium, Koskinen Stadium, the Duke medical center, Duke Chapel, Sarah P. Duke Gardens and a 2,200-space parking garage that is currently under construction. Duke University has selected Durham-based WDI Hospitality LLC to manage JB Duke Hotel, which is a “father-and-son property” with Washington Duke Inn & Golf Club, which is also owned by Duke University and managed by WDI Hospitality. Duke University expects to start taking reservations at JB Duke Hotel in January 2017.
NASHVILLE, TENN. — GBT Realty Corp. plans to develop Belcourt Park, a $20 million, 76-unit multifamily development located in Nashville’s Hillsboro Village. The new property is designed for Nashville’s workforce population in need of affordable housing. Situated on a 0.7-acre site on Belcourt Avenue, the new apartment community will replace a building that most recently housed the Belmont Nursing Home, which closed in 2015. GBT Realty will develop the four-story property consistent with Nashville’s T4 Neighborhood Plan that outlines the need for more live/work/play developments in the city. The property will feature an onsite leasing and management office, concealed 84-space parking structure, limited street parking, bike racks and common amenities including a Wi-Fi workspace, espresso bar, fitness facility and a landscaped patio area with cabanas and fire pits. Floor plans will include studio, one- and two-bedroom residences, each equipped with complimentary Google Fiber and NEST Learning Thermostats. GBT Realty is not seeking public funding or concessions for the project. The Brentwood, Tenn.-based developer purchased the site for Belcourt Park in 2015 for $3.4 million. GBT Realty is also developing the $45 million Village 21 at Regions Park, which will be located roughly two blocks west of Belcourt Park. The development …
MORGANTOWN, W.VA. — Core Spaces has acquired a three-year-old, 420-bed student housing community located less than half a mile away from the West Virginia University campus in Morgantown. Originally called Beech View Place Apartments, the facility will be rebranded State On Campus Morgantown. Core Spaces will implement a capital improvement program to include the addition of a fitness center replete with a steam room and sauna, and a full overhaul of the interior courtyard to include a hot tub and areas for grilling and socializing. Core Spaces will add a new computer lab that will feature new computers, printers, multiple group study areas and individual study spaces. The leasing offices, lobby and reception area will also be redesigned and repositioned. Renovations are expected to begin this summer and be complete by late fall.
