HUNTSVILLE, TEXAS — Marcus & Millichap has arranged the sale of Huntsville Crossing Shopping Center, a 23,760-square-foot retail property located in Huntsville. Glen Kunofsky, Russell Wachtler and Jerry Goldstein of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. A California buyer purchased the shopping center utilizing a 1031 tax-deferred exchange. Tenants include Buffalo Wild Wings, Chipotle Mexican Grill, Mattress One and Spec’s Liquor.
SAN ANTONIO — Oldham Goodwin has opened a new office in San Antonio. This marks the second office expansion in the company’s history. Steve Monroe will be leading the brokerage efforts for Oldham Goodwin Group’s San Antonio office. Steve’s responsibilities include managing the brokerage division of the new office, as well as growing the San Antonio/South Texas office in terms of personnel and property listings for sales, leasing and property management. Steve boasts more than 25 years in the commercial real estate industry. Most of that time was spent with CBRE, where he served as an investment properties specialist and as a managing director responsible for company operations in New Mexico and California. Oldham Goodwin’s new office is located at 1100 N.W. Loop 410, Suite 700. The new office will offer the same services as the corporate headquarters located in Bryan. Services offered will include brokerage, development, management and investment services.
THE WOODLANDS, TEXAS — David Alexander of Newcor Commercial Real Estate has represented Gus Kaiser in the purchase of 5.8 acres at 33127 Lois Lane and FM 1488 in The Woodlands. Scott Furches of RE/Max Hometown represented the seller, DRD Limestone LLC.
LANTANA, FLA. — Bridgewater Lake Osborne LLC, an entity owned by Index Investment Group and Eastwind Development, has sold Bridgewater at Lake Osborne, a 108-unit apartment community in Lantanta. BLO Investors LLC purchased the asset for $24 million. Fronting Lake Osborne on a 9.6-acre lot, the apartment community was delivered in May 2014. The community features two- and three-bedroom units with rents starting at $1,579. The property features a boat ramp, resort-style pool, sunset pavilion and a children’s playground.
LOUISVILLE, KY. — Brown-Forman Corp., a Louisville-based spirits and wine company, has released 11 new renderings that detail its design for the new Old Forester Distillery, a 60,000-square-foot bourbon distilling operation and visitor experience located at 117 and 119 Main St. along Louisville’s historic “Whiskey Row.” Brown-Forman expects to produce 100,000 cases of Old Forester, a 146-year-old bourbon brand, annually at the new operation. Old Forester Distillery is scheduled to be complete by late 2017.
CARTERSVILLE, GA. AND RIVERVIEW, FLA. — Phillips Edison Grocery Center REIT II Inc. has purchased two grocery-anchored shopping centers in Cartersville and Riverview. The properties include the 375,067-square-foot Bartow Marketplace in Cartersville and the 78,442-square-foot Bloomingdale Hills in Riverview. Bartow Marketplace’s tenant roster includes a 204,170-square-foot Walmart Supercenter, and a 130,497-square-foot Lowe’s Home Improvement. Other tenants include Cricket Wireless, CPR Cell Phone Repair, Rue 21, World Finance Loans, Dollar Tree, Metro PCS, Pearle Vision, Gamestop, Peachstate Auto Insurance, Sally Beauty Supply and Payless Shoe Source. Bloomingdale Hills’ tenant roster includes a 57,756-square-foot Walmart Neighborhood Market, Happy’s Home Centers, Great Clips and Great Expressions Dental. As of April 14, 2016, Phillips Edison Grocery Center REIT II owns and manages 66 grocery-anchored centers totaling roughly 7.9 million square feet.
CHARLOTTE, N.C. — Beacon Partners has signed two leases with restaurateur Deedee Mills for two new dining concepts at 500 East Morehead, a seven-story office building in Uptown Charlotte. The 178,000-square-foot property is currently under construction. The two new dining concepts include The Packhouse, a Southern-themed restaurant, and Joe and Nosh, a quick service breakfast and lunch destination and coffee shop. Charles Thrift of Collett & Associates represented Beacon Partners in the lease transaction.
DAYTON, OHIO — The 399-room Marriott at the University of Dayton will undergo a $21 million renovation in May. The hotel will remain open and operational during the nine-month project. The renovation of guest rooms, meeting spaces, lounge areas and a restaurant is slated for completion in early 2017. Thomas Hamilton Associates will serve as the architect for the project. Concord Hospitality Enterprises Co., which manages the hotel, will oversee the renovation. The University of Dayton and Concord Hospitality purchased the hotel, located at 1414 S. Patterson Blvd., in 2014. The property was constructed in 1982 and sits on 9.8 acres. The hotel was last renovated in 2008. The Marriott at the University of Dayton includes 13,600 square feet of meeting space, a full-service restaurant and bar, a fitness center and pool.
OAK BROOK, ILL. — Mid-America Real Estate Corp. has brokered the sale of a 103,836-square-foot retail property in Oak Brook, approximately 20 miles west of Chicago, for $19.9 million. Oak Brook Court is located at the intersection of Kingery Highway and 16th Street. Binny’s Beverage Depot, Office Max and The Great Escape anchor the shopping center. Rick Drogosz and Ben Wineman of Mid-America were the sole brokers in the transaction and represented the seller, an institutional advisor.
OAK PARK, MICH. — Bernard Financial Group has arranged a $12.8 million refinancing loan for a mid-rise apartment tower in Oak Park, approximately 15 miles northwest of Detroit. Lincoln Towers Apartments, built in 1974, includes 480 units and is located at 15075 Lincoln St. Lincoln Towers Apartments LP was the borrower. Dennis Bernard and Kevin Kovachevich of Bernard Financial Group originated the loan through a CMBS lender.
