AUSTIN, TEXAS — ATCO Properties & Management has acquired 1300 Guadalupe St. in downtown Austin, and has sold the Crossroads Center for an undisclosed amount. The property at 1300 Guadalupe is a fully occupied, 45,000-square-foot commercial office building located two blocks west of the Texas State Capitol. The property includes tenants such as projekt 202, Snow Software, Noack Little Architecture and Honeywell International Inc. ATCO has also closed on the sale of the 100,000-square-foot Crossroads Center. Steve Durhman of Durhman and Bassett represented the buyer, Jay Kaplan. The property is 96 percent occupied by tenants including Chili’s, West Marine, Pluckers Wing Bar, Make It Sweet, Subway and Cycle Gear.
ALLEN, TEXAS — Cassidy Turley has arranged a lease renewal for State Farm Mutual Automobile Insurance Co.’s 62,791-square-foot office space at Allen Station in Allen. Randy Cooper and Craig Wilson of Cassidy Turley represented State Farm in the transaction. John Hendricks and Wilson Brown of CBRE represented the landlord, LIT Finance LP. Allen Station is located at 381 E. Exchange Parkway and spans 220,326 square feet. State Farm has occupied the building since 2004. Allen Station was built in 2001 and is located just east of U.S. Highway 75 on the north side of Exchange Parkway.
BOLINGBROOK, ILL. — Renovations are underway on a freezer/cooler project for Eastland Foods in Bolingbrook. Peak Construction Corp. is making improvements to a 4,282-square-foot freezer/cooler space at the company’s Illinois facility located at the Panattoni building. Construction began on Oct. 1. Project enhancements include a new 3,522-square-foot freezer/food storage area and a 760-square-foot cooler storage space. The project is scheduled for completion by the end of the year. Harris Architects and Climate Pros Refrigeration are assisting with the project. Eastland Food imports and distributes food products from Southeast Asia. The company is headquartered in Maryland, but operates other locations in Illinois, Florida and California.
GRANGER, IND. — Marcus & Millichap has arranged the $5.2 million sale of a 14,490-square-foot retail property in Granger, approximately nine miles northeast of South Bend. The property is located at 15005-45 State Road 23. Mark Lewenauer of Marcus & Millichap’s Chicago downtown office secured and represented the buyer, a private investor. Josh Caruana, the firm’s Indiana broker of record, assisted in closing the transaction.
EDGERTON, KAN. — Kubota Tractor Corp. will open a 450,000-square-foot parts distribution center in Edgerton, 37 miles southwest of Kansas City. The company has entered into a five-year lease agreement with ELHC XI LLC., a Kansas limited liability company. Kubota plans to have the facility operational during the third quarter of 2015. The center will primarily service the Midwest and will employ approximately 75 people after the first year. Kubota’s current divisional parts operations in Suwanee, Ga., Fort Worth, Texas, Columbus, Ohio and Lodi, Calif., will continue to provide regional support to local Kubota dealers.
MADISON HEIGHTS, MICH. – Biggby Coffee has signed a 2,071-square-foot retail lease for a second Madison Heights location. The property is located at 11 Mile Road between I-75 and John R Road. Tjader Gerdom and Mike Vaughn of Gerdom Realty & Investment arranged the transaction. The new Biggby location will have a drive-thru and is expected to open in spring 2015.
SMYRNA, GA. — Berkadia Real Estate Advisors has brokered the $27 million sale of the 416-unit Mission Galleria Apartments in Smyrna, a suburb of Atlanta located in Cobb County. The property is located at 5000 S. Lincoln Trace Ave. N.E., near the site of SunTrust Park, the Atlanta Braves’ new ballpark that will open in 2017. Andrew Mays and Paul Vetter of Berkadia’s Atlanta office represented the buyer, RADCO Cos., in the transaction. David Oakley of Berkadia’s Birmingham office represented the seller, Mission Galleria LLC. Built in 1975 on more than 25 acres, Mission Galleria was 85 percent occupied at the time of sale.
BOWLING GREEN, KY. — Landmark Commercial Real Estate Services Inc. has brokered the $18.6 million sale of the Shoppes at Gary Farms, a 99,777-square-foot power shopping center in Bowling Green. Built in 2014, the property’s tenant roster includes Dick’s Sporting Goods, Bed Bath & Beyond, PetSmart, Kirkland’s and Lane Bryant. An unnamed, non-traded REIT purchased the property from an unnamed regional developer. Kevin Baker and Daniel Kukes of Landmark represented both the buyer and seller in the transaction.
PAWLEYS ISLAND, S.C. — Phillips Edison-ARC Shopping Center REIT Inc. has acquired The Fresh Market Commons in Pawleys Island, located roughly 23 miles south of Myrtle Beach. The 32,594-square-foot shopping center is located at 11045 Ocean Highway. The property’s tenant roster includes The Fresh Market, Chico’s, Litchfield Books and Pawleys Island Swimwear.
ATLANTA — Cousins Properties Inc. has signed Veritiv Corp. (NYSE: VRTV), a $9.5 billion Fortune 500 company, to a 68,315-square-foot office lease at Northpark Town Center in Atlanta. The business-to-business distribution firm plans to take occupancy at Northpark in the spring of 2015. With the addition of Veritiv, the office building in Atlanta’s Central Perimeter submarket is 91 percent leased. Sam Holmes, John Shlesinger and Ellen Stern of CBRE represented Veritiv in the lease transaction. Atlanta-based Cousins purchased Northpark in October 2014 from AEW Capital Management and the Bank of Ireland for $348 million.