Property Type

Mid-America Arranges $14.5M Sale of Quivira Crossings in Overland Park, Kan.

by Danielle Everson December 18, 2014

OVERLAND PARK, KAN. — Mid-America Real Estate Corp. has brokered the sale of Quivira Crossings located in Overland Park. Cincinnati-based Phillips Edison purchased the 111,304-square-foot grocery-anchored center for $14.5 million. Quivira Crossings is located at 135th Street and Quivira Road and features a long-term lease with grocery store Price Chopper. Joe Girardi of Mid-America listed the property on behalf of an investment group advised by Overland Park, Kan.-based Rubenstein Real Estate Co.

December 18, 2014

Illinois Industrial Midwest Office

NelsonHill Arranges $2.8M Sale of 100,000 SF Building in Chicago

by Danielle Everson December 18, 2014

CHICAGO — NelsonHill has arranged the $2.8 million sale of a 100,000-square-foot building in Chicago’s Jefferson Park neighborhood. The Chicago Transit Authority (CTA) purchased the property located at 5353 W. Armstrong Ave. CTA will use the site to expand its area bus depot. The property features three interior docks, one exterior dock and one drive-in door. The building is situated on nearly four acres, is located in the Elston/Armstrong TIF Corridor, and is in close proximity to the I-90 and I-94 expressways. Mark Nelson and Michael Nelson of NelsonHill represented the seller, a New York-based cab company. Hugh Murphy of JLL represented the CTA.

December 18, 2014

Midwest Ohio Retail

M&M Brokers $1.6M Sale of Ground-Lease in Cuyahoga Falls, Ohio

by Danielle Everson December 18, 2014

CUYAHOGA FALLS, OHIO — Marcus & Millichap has brokered the $1.6 million sale of a Huntington Bank triple-net ground-lease in Cuyahoga Falls, located approximately 39 miles south of Cleveland. The property is an out-parcel to the recently constructed Portage Crossing development, which is anchored by Giant Eagle Market District, LA Fitness and Cinemark. Scott Wiles, Craig Fuller and Erin Patton of Marcus & Millichap’s Cleveland and Columbus offices represented the seller, an Ohio-based limited liability company. Colliers Phoenix represented the California-based buyer who purchased the property in a 1031 tax-deferred exchange.

December 18, 2014

Industrial Midwest Minnesota

Upland Real Estate Group Arranges 48,000 SF Industrial Lease in Plymouth, Minn.

by Danielle Everson December 18, 2014

PLYMOUTH, MINN. — Upland Real Estate Group Inc. has arranged a 48,000-square-foot industrial lease for MVP Logistics LLC at the Medicine Lake Industrial Center (MLIC) located in Plymouth. Duke Realty owns and operates the 221,579-square-foot distribution center, which is located a half mile west of U.S. Highway 169. MVP is expanding from 12,000 square feet at its current facility in Golden Valley located one mile east of MLIC. Joshua Huempfner of Upland Real Estate Group represented MVP in the transaction.

December 18, 2014

Restaurant Retail Texas

Tom+Chee Restaurant to Join CityLine Mixed-Use Development in Metro Dallas

by Haisten Willis December 18, 2014

RICHARDSON, TEXAS — Tom+Chee will join KDC’s 186-acre CityLine mixed-use development in Richardson. The restaurant is famous for its grilled cheese donut and is expected to open in May 2015. CityLine will be the first Texas location of Tom+Chee. Corey Ward and Trew Quackenbush founded the restaurant with the aim of becoming the quintessential grilled cheese and tomato soup shop. The 2,400-square-foot location will be located across from Aloft Hotel and will open in May 2015.

December 18, 2014

Industrial Texas

Parkway Properties Signs Leases in Houston

by Haisten Willis December 18, 2014

HOUSTON — Parkway Properties Inc. has signed two leases totaling 213,000 square feet in Houston with Nabors Industries and Bristow Group Inc. Nabors Industries signed a 98,000-square-foot expansion lease at One Commerce Green, located in the Greenspoint submarket of Houston, which expires on Sept. 30, 2025. The Nabors expansion will back-fill space Southwestern Energy Co. will vacate during the first quarter of 2015. Bristow Group Inc. signed a 115,000-square-foot lease at CityWestPlace, located in the Westchase submarket of Houston, which expires Jan. 31, 2025.

December 18, 2014

Retail Texas

Oliver McMillan Signs 23 Retailers for River Oaks District in Houston

by Haisten Willis December 18, 2014

HOUSTON — Oliver McMillan has announced 23 new retailers will join Houston’s River Oak’s District mixed-use development. The retailers are Akris, American Food and Beverage, Anne Fontaine, BONOBOS, Brioni, Brunello Cucinelli, Canali, Chopard, De Bouelle Diamond & Jewelry, Diptyque, Dolce & Gabbana, Etro, Giuseppe Zanotti, INTERMIX, John Lobb’s, Kiton, Le Colonial, L’Occitane’s, Moncler, Roberto Cavalli, Taverna, Thirteen Pies and Toulouse Café and Bar. River Oaks District is a mixed-use development on 14 acres located inside Loop 610 in Houston. The development is set to open in 2015.

December 18, 2014

Multifamily Texas

ARA Arranges Sale of Archstone Memorial Heights in Houston

by Haisten Willis December 18, 2014

HOUSTON — ARA represented AvalonBay Communities Inc. in the sale of Archstone Memorial Heights to the Midway Cos. and The Lionstone Group. Archstone Memorial Heights occupies 23.4 acres with frontage along Washington Ave. The apartment complex consists of 556 units, which were recently upgraded. The complex was 93 percent occupied at the time of sale.

December 18, 2014

Arizona Retail Western

TriGate Capital Buys Gateway Village in Glendale

by Nellie Day December 18, 2014

GLENDALE, ARIZ. – TriGate Capital has purchased Gateway Village, a 126,286-square-foot shopping center in Glendale. The acquisition was part of a national retail property portfolio buy, valued at $53 million. The center is located at 5932-6070 W. Bell Road. It is 80 percent leased to tenants like Stein Mart, All America Pool & Patio, Cox Communications and Fast Signs. Gateway Village is the largest property in the retail portfolio, which also includes shopping centers in Pennsylvania, Georgia, South Carolina and Missouri. The seller, PDSI, was represented by Michael Hackett and Ryan Schubert of Cassidy Turley.

December 18, 2014

California Hospitality Western

Hotel Site in San Diego’s Imperial Beach Sells for $5.5M

by Nellie Day December 18, 2014

SAN DIEGO – A 37,800-square-foot parcel in the San Diego submarket of Imperial Beach has sold to Imperial Beach Resort LLC for $5.5 million. The parcel is located at 1046 Seacoast Drive. The lot is bound by Imperial Beach Boulevard, Ebony Avenue and the Pacific Ocean. The site has been approved for a 79-room boutique hotel, 115 underground parking spaces, and 10,000 square feet of meeting, convention and restaurant space. It has unobstructed ocean views and direct beach access. The site is currently occupied by an apartment complex. Richard Murdock of Lee & Associates’ San Diego office represented both the buyer and seller, William R. Mundt Trust, in this transaction.

December 18, 2014

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