AUSTIN, TEXAS — Foot Locker, an athletic footwear and apparel retailer, has leased 4,135 square feet of retail space in Capital Plaza, an Austin retail center located at the northeast corner of IH-35 and Cameron Road. Matt Epple and Casey Kopecky of The Weitzman Group were the retail leasing agents for Capital Plaza. Cencor Realty Services manages Capital Plaza.
DALLAS — Inland American Communities Group Inc. (IAC), a development, acquisition and management company operating in university markets across the U.S., has rebranded to become University House Communities (UHC). University House Communities will continue to operate as a wholly owned subsidiary of Inland American Real Estate Investment Trust, a non-traded national REIT that manages a portfolio of commercial real estate assets in multi-tenant and student housing. Currently, University House Communities has five new properties under construction in Atlanta, Austin, Birmingham, Charlotte and Tempe, and continues to identify new development and acquisition opportunities across the country.
HOUSTON — TexWhouse Inc. has purchased two office/warehouse buildings in Houston. The two single-tenant buildings, spanning 6,000 square feet and a 10,000 square feet, are located at 3103 and 3113 Farrell Road, respectively. Mike Spears, Thomas Leger and Robert McGee of TNRG represented the buyer, TexWhouse, and the seller, Farrell Road Park North LLC.
BLAINE, MINN. — Transwestern’s Chicago office has brokered the sale of a 221,239-square-foot shopping center in Blaine. The Village of Blaine Shopping Center is located at 4345 – 4349 Pheasant Ridge Road. Pine Tree Commercial Realty LLC paid an undisclosed amount for the property. A Cub Foods grocery store anchors the shopping center. Other tenants in the 13-year-old center include Michaels, Applebee’s, Pier 1 Imports, DressBarn, Sprint, Maurices, Caribou Coffee, Bath & Body Works, GNC and Great Clips. Janice Sellis and Paul Barile of Transwestern represented the seller, MEPT, and its real estate advisor, Bentall Kennedy. Pine Tree Commercial Realty was represented internally in the transaction.
CLEVELAND HEIGHTS, OHIO — NAI Daus has arranged the $1.3 million sale of a 50-unit apartment complex in Cleveland Heights. The apartment property is located at 2734 Noble Road. Boston, Mass.-based Noble Summit Apartment Properties LLC purchased the property. Alec Pacella of NAI Daus represented the seller, Noble Summit I&II LLC.
FAIRVIEW HEIGHTS, ILL. — L3 Corp. has arranged the lease of a 28,000-square-foot retail space in Fairview Heights. Fresh Thyme Markets will occupy space within the Fairview Heights City Centre located at 6569 N. Illinois St. Fresh Thyme Markets leased the space from Fairview Heights 881 Fee LLC. L3 Corp. represented the tenant in the transaction.
CHICAGO — @properties Commercial has arranged two retail leases at Westport Commons Shopping Center in Chicago’s Ashburn neighborhood. Westport Commons Shopping Center is located at 3302 W. 87th St. Greg Stein of Bialow Real Estate represented fashion retailer VILLA in a 10-year lease for 5,000 square feet of space. Todd Cabanban of Cabanban Rubin and Mayberry Commercial Realty represented Simply Fashions in a five-year lease for 3,500 square feet. The 180,000-square-foot shopping center is 96 percent leased. Mike Rourke of @properties Commercial represented Westport Associates LP in the two retail leases.
MIAMI — RKF has brokered three property sales in Miami’s Design District and Wynwood neighborhoods totaling $86.8 million. Brooklyn-based RedSky Capital purchased the three properties from three separate sellers. Ben Mandell, Drew Schaul and John Ellis of RKF represented RedSky in all three transactions. The assets included a two-story, 19,436-square-foot retail property located at the corner of North Miami Avenue and N.E. 40th Street in the Design District. RedSky purchased the asset from Hardor Corp. for $29.3 million. Hardor Corp. was represented internally in the transaction. The other Design District property was a three-story, 17,391-square-foot retail asset at 35 N.E. 40th St. that RedSky purchased from a limited liability company known as 35 NE 40th Street LLC for $28 million. Oak Tavern, a 140-seat bar and restaurant, currently occupies the space. Fran Clougherty of Douglas Elliman represented the seller in the transaction. Lastly, RedSky purchased Wynwood Block, an enclosed shopping center occupying a full city block at 2621 N.W. 2nd Ave. in Wynwood, for $29.5 million. Gaston Miculitzki of Brightway Properties represented the seller, Wynwood 2621 LLC, in the transaction.
RESTON, VA. — A partnership between Atlantic Realty Cos. and Angelo, Gordon & Co. has purchased four office buildings in Reston totaling roughly 500,000 square feet for $82 million. The portfolio was 50 percent leased to more than 40 tenants at the time of sale, including the Reston Association and Wal-Mart Stores Inc. Eastdil Secured brokered the transaction. The four properties include Reston Corner I at 12001 Sunrise Valley Drive, Reston Corner II at 12005 Sunrise Valley Drive, Reston Corner III at 12007 Sunrise Valley Drive and Parkridge V at 10780-10790 Parkridge Blvd. The new ownership plans to invest roughly $5 million to improve the properties’ interiors and outdoor common areas.
LAWRENCEVILLE, GA. — CBRE has brokered the $58.3 million sale of Madison at River Sound, a 586-unit apartment community located along Highway 316 in Lawrenceville, a suburb of Atlanta. The property is located within walking distance of Georgia Gwinnett College, the fastest growing four-year public college in Georgia. The complex features a two-tier swimming pool and a renovated clubhouse. Shea Campbell and Kevin Geiger of CBRE’s Southeast multifamily group represented the seller, a partnership owned by B&M Management and Madison International Realty LLC, in the transaction.
