DALLAS — Texas Health Surgery Center has renewed its lease of 8,285 square feet and expanded to another 5,546 square feet at Preston Plaza in Dallas. An affiliate of Caddo Holdings LLC owns Preston Plaza, a retail center. Kyle Jacobs of Rubicon Representation LLC represented the tenant. Heather Shover and Sean Dalton at Younger Partners represented the landlord.
FRANKLIN, MASS. — Faris Lee Investments has brokered the sale of Franklin Shops, a newly developed retail property located at 648 Old W. Central St. in Franklin. A private investor acquired the property from a private developer for $6.6 million. Starbucks Coffee, Noodles Co. and MedPost Urgent Care occupy the 8,911-square-foot property, which was completed in 2015. All three tenants have new, 10-year net leases in place. Matthew Mousavi and Patrick Luthre of Faris Lee Investments represented the seller in the transaction.
NEW YORK CITY — Marcus & Millichap has negotiated the sale of an apartment building located at 231 N. Henry St. in Brooklyn’s Greenpoint neighborhood. The six-unit property sold for $3 million. The buyer, a limited liability company, plans to reposition the property, which is one of the largest brick six-family buildings in the neighborhood. Shaun Riney, James Saros and Michael Salvatico of Marcus & Millichap’s Brooklyn office represented the seller, a limited liability company, and secured and represented the buyer, a limited liability company, in the transaction.
STOCKBRIDGE, GA. — RCP Cos., a Huntsville, Ala.-based real estate investor and developer, plans to develop a $300 million mixed-use project, known as Jodeco|Atlanta South, in Henry County. Preliminary plans for the mixed-use development in the southern Atlanta suburb of Stockbridge include retail and restaurants, an entertainment hub, amphitheater, outdoor fitness and recreation areas and apartment residences within an urban setting. “Our intention is to craft a new, vibrant community that brings the energy of a high-density, urban design — as well as the options that a larger city might provide — to South Atlanta,” says Max Grelier, chief development officer of RCP Cos. Jodeco will sit adjacent to I-75 at exit 222, one of the first exits south of the I-675 interchange. Situated in the southwest quadrant of the I-75 and Jodeco Road intersection and bordered by Chambers and Mt. Olive roads, the development will include more than 500,000 square feet of local, regional and national retailers, including an organic grocer. A 12,000-square-foot food hall, known as Mt. Olive Market, will be a dining venue within Jodeco where local and regional chefs will serve guests at counters and communal tables. Plans also call for two upscale hotels and an …
CHICAGO — Transwestern has arranged a 47,038-square-foot lease for Coyne College in Chicago’s Loop. The college will occupy the entire fourth floor at One North State, a 680,000-square-foot office tower, starting this June. Coyne College, which provides career training in allied health and construction trades, will move to the new location from its current campus at 330 N. Green St. John Marquardt, Cece Conway, Phil Utigard and William Briggs of Transwestern represented Coyne College in the lease transaction. Michael Lirtzman, Jeff Dowdell and Katie Steele of Transwestern represented the building’s owner, FD Stonewater LLC.
GLEN ELLYN, ILL. — Paine Wetzel TCN Worldwide has brokered the sale of a 106,892-square-foot industrial property in Glen Ellyn, approximately 28 miles west of Chicago. M&R Printing Equipment sold the asset, located at 1N372 Main St., to LifeStorage. The asking price for the property was $3.7 million, but the final purchase price was undisclosed. LifeStorage plans to convert the manufacturing building into self-storage units. Jeff Blake of Paine Wetzel TCN Worldwide represented the seller in the transaction. Sean Henrick of Cushman & Wakefield represented the buyer.
NOVI, MICH. — Friedman Integrated Real Estate Solutions has negotiated the sale of a 24,898-square-foot industrial property for $1.6 million. Sigma Phi Properties Inc. acquired the asset, located at 46555 Humboldt Drive Road in Novi, approximately 30 miles northwest of Detroit, from BACM 2006-2 Novi industrial LLC. The property was 100 percent occupied by three tenants at the time of sale. Rich Deptula of Friedman Integrated Real Estate Solutions represented both parties in the transaction.
ELM GROVE, WIS. — Siegel-Gallagher has arranged a 1,400-square-foot office lease in Elm Grove, approximately 10 miles west of Milwaukee. ABR Employment Services will occupy space at The Tradesman Building. Building Trades United Pension Trust Fund owns the property located at 500 Elm Grove Road. John Dulmes and Dan Walsh of Siegel-Gallagher brokered the transaction.
HOUSTON — Sealy & Co. has acquired Northwest Point Business Park, a 232,307-square-foot light industrial portfolio located on Brittmoore Road in northwest Houston. The acquisition was made through the company’s investment offering Sealy Strategic Equity Partners (SSEP). The park consists of four industrial buildings located at the intersection of Highway 290 and Beltway 8. Northwest Point is 100 percent leased to 10 tenants including manufacturing, distribution and food processing companies. The average tenant has occupied the space for more than three years. The suites range from 4,695 to 76,880 square feet.
HOUSTON — Peter Wall and Bill McGrath of LandPark Advisors have represented Stone Mountain Properties in the acquisition of two multi-tenant office buildings in Houston. The two buildings are located in the Westchase District and total 154,704 square feet of rentable area. The new buildings, located at 2424 and 2500 Wilcrest Drive, are situated near the northwest corner of Wilcrest Drive and Westheimer Road. LandPark Advisors is the parent company to LandPark Commercial, which was hired to provide both property management and leasing services on behalf of Stone Mountain Properties.