BEAUMONT, TEXAS — NAI Wheeler has changed its name to Wheeler Commercial. This change represents a DBA (Doing Business As) change only. KenWheel Inc. remains unchanged. The president of the company, Lee Wheeler, has been serving southeast Texas for more than 16 years and has been in the commercial real estate business for more than 18 years. The structure and personnel of the company has not changed. Wheeler Commercial specializes in commercial real estate and brokerage services including sales, leasing, consulting and property management.
HOUSTON — Miller Road Realty has purchased 80.4 acres on Beaumont Highway in Houston. Trey Erwin of Colliers International represented the buyer in the transaction. Frank Blackwood of Capital Real Estate Commercial represented the seller, Williams Brothers Construction Co.
NEW YORK CITY — New York City-based AIG Global Real Estate Investment Corp. has sold a 12-property apartment portfolio in New Jersey, Pennsylvania and Delaware. An undisclosed buyer purchased the 2,811-unit portfolio for $165 million free and clear of existing debt. The garden-style communities feature a mix of one-, two- and three-bedroom units averaging approximately 800 square feet in size. Amenity packages vary by community but include fitness centers, swimming pools, tennis courts, playgrounds and dog parks. Seven properties are in New Jersey, three in Pennsylvania and two in Delaware. Jose Cruz, Andrew Scandalios, Mark Thomson, Kevin O’Hearn, Michael Oliver and Steve Simonelli of HFF represented the seller in the transaction.
BROOKHAVEN, PA. — Maple Shade, N.J.-based Retail Sites LLC has broken ground on The Shoppes at Brookhaven, a 25-acre shopping center located in Brookhaven. The 155,000-square-foot center will be occupied by a 67,000-square-foot Giant Food, as well as LA Fitness, Starbucks Coffee, Smashburger, Pet Valu, Hair Cuttery, Mavis Tire, Sport Clips and a Pennsylvania Wine and Spirits Store. The $33 million shopping center is slated to open in fall 2016. As part of the development, the Borough of Brookhaven will receive more than 10 acres of new public recreation land and will receive a new baseball field valued at more than $700,000. The project will generate in excess of 235 new full-time jobs and 225 additional jobs during the development and construction of the site.
DALLAS — Steve Jarvie has joined E Smith Realty Partners as president. Jarvie will lead the growth initiative for Dallas tenant representation services and will serve on the company’s executive committee, assisting with strategic direction for the company. Prior to joining E Smith Realty, Jarvie served as executive vice president at Jones Lang LaSalle (JLL) and The Staubach Co., focusing on the development of new business and management of client transactions. Jarvie has accounted for more than 10 million square feet of leases during his career. Jarvie earned his Bachelor of Arts degree from Baylor University in Waco.
CLIFTON HEIGHTS, PA. — New York Life Real Estate Investors has acquired Home Depot Plaza, a shopping center located in Clifton Heights, an infill suburban submarket of Philadelphia. The property sold for an undisclosed price. The 299,634-square-foot grocery-anchored center was 98 percent occupied at the time of sale. Tenants include The Home Depot, Acme Supermarket, Modell’s and Petco.
CLINTON TOWNSHIP, PA. — Bennett Williams Realty Inc. has arranged the sale of a retail property located at 2020 State Route 54 in Clinton Township. SRI Gopal Properties LLC purchased the 9,100-square-foot property from MDC Development LP for $1.4 million. Chad Stine, Brad Rohrbaugh and Adam Hagerman of Bennett Williams Realty represented the seller in the transaction.
BEDFORD, N.H. — Brady Sullivan Properties has arranged the leases for two office tenants at 2 Commerce Drive in Bedford. PeopleNet Communications Group, a subsidiary of Trimble, leased 5,253 square feet of office space, and SnapDragon Associates has leased 2,300 square feet of office in early 2016. Charles Panasis and Benjamin Kelley of Brady Sullivan arranged the transactions. Terms of the leases were not disclosed.
DAVIS, CALIF. — An unnamed buyer has purchased the 31-unit DaVinci Apartments in Davis for $16 million. It is located at 1666 Da Vinci Court. The community was built in 2005. It is situated walking distance from the UC Davis campus. Adam Levin and Robert Johnston of Marcus & Millichap represented both the buyer and seller in this transaction.
SEATTLE — Cabot Properties has purchased Federal Way Corporate Center, a 73,498-square-foot industrial park in the Seattle submarket of Federal Way, for $7.6 million. The park is located at 34210 9th Ave. South. It was built in 2001. The facility is leased to three tenants. Brian Bruininks and Jeff Crane of the Andover Company/CORFAC International represented both the buyer and seller, Fedway Group LLLC, in this transaction.