CHICAGO — Baum Realty Group LLC has arranged a 3,000-square-foot lease for DryHop Brewers in Chicago. The property is located at 3446 N. Southport Ave., between Newport Ave. and Cornelia Ave. The new brewery will be called Corridor Brewery & Provisions and is scheduled to open summer 2015. Will Crowden and Allen Joffe of Baum Realty Group arranged the lease on behalf of DryHop.
DAYTONA BEACH, FLA. — P&S Paving has commenced construction on the early site work for ONE DAYTONA, a premier mixed-use and entertainment development across from Daytona International Speedway in Daytona Beach. P&S Paving was awarded the contract for infrastructure improvements for Phase I, which includes site development, drainage and underground utility work. ONE DAYTONA is a joint venture between Jacoby Development and International Speedway Corp. (ISC). P&S Paving is also the subcontractor for ISC’s $400 million DAYTONA Rising project underway at Daytona International Speedway.
KENNESAW, GA. — Passco Cos. LLC has acquired the recently completed Twenty25 Barrett, a 238-unit apartment community, for $38.8 million. The LEED Gold-certified property is located at 2025 Barrett Lakes Blvd. in Kennesaw, a northern suburb of Atlanta. The property includes a clubhouse/business center, fitness center, executive club lounge, swimming pool with sunning shelf, dog park and lakefront trail. Developed by AMLI, the property’s units average 990 square feet.
ORLANDO, FLA. — Chambers Street Properties, an industrial and office REIT, has sold a 124,500-square-foot office building in Orlando for $26.5 million. The property is located at 12650 Ingenuity Drive. The disposition is part of the REIT’s strategy to sell its non-core office assets and purchase industrial assets in the United States, according to Martin Reid, executive vice president and CFO of Chambers Street.
HUNTSVILLE, ALA. — GBT Realty Corp. has signed Sprouts Farmers Market as part of the $16 million Phase II of Strong Station, a neighborhood retail center in Huntsville. The property is located at the intersection of US Highway 72 and Nance Road. Phase II, which spans 95,000 square feet, is nearly 96 percent leased to Sprouts, Hobby Lobby and Another Broken Egg. Phase I, which opened in 2012, includes Academy Sports + Outdoors. Phase II is currently under construction.
HOUSTON — The third Verizon Destination Store in the United States has opened at BLVD Place in Houston. The store is four times the size of a typical Verizon store and is designed to showcase Verizon’s newest devices. The two-story Houston store spans 12,224 square feet, with consumer products on the first floor and business products located on the second floor. BLVD Place is a mixed-use project under development in Houston’s uptown district. The project includes a Whole Foods Market, Frost Bank’s Houston headquarters, shops and restaurants, office space and high-rise residences.
RICHARDSON, TEXAS — CBRE Capital Markets has arranged the sale of Collins Square, a 213,864-square-foot office building in Richardson. Pillar Commercial, a Dallas-based real estate investor and operator, teamed with Origin Capital Partners to purchase the asset from StreamCo for an unnamed price. The newly formed joint venture is seeking additional investment. The four-story office building is 87 percent leased to The Travelers Indemnity Co., a wholly owned subsidiary of The Travelers Cos. Inc. Eric Mackey, Gary Carr, John Alvarado and Robert Hill with CBRE Capital Markets’ Dallas office represented the seller.
NORTHLAKE, TEXAS — Stream Realty Partners, a real estate services, development and investment firm, has closed on a 61-acre site in Northlake. Stream will develop three Class A industrial buildings totaling 945,035 square feet. The project, Northport 35 Business Center, will be located near the Union Pacific and BNSF rail lines, Alliance Airport and many logistics and industrial companies. Albert Jarrell of Stream’s construction division will oversee the project. Cannon Green and Bob Hagewood of Stream Realty will oversee leasing.
CLEVELAND — Cooper Commercial Investment Group has arranged the $5.3 million sale of a Walgreens located at 4071 Lee Road in Cleveland. Bob Havasi and Dan Cooper of Cooper Commercial Investment Group in Cleveland represented the seller, a privately owned investment group out of New York. A Florida-based private investor purchased the property. The building was sold at 94 percent of its original list price, representing a 6.9 percent capitalization rate. Walgreens is on a 20-year, corporately guaranteed, triple-net-lease with approximately seven years of original term remaining. The freestanding building was built in 2002.
LIVONIA, MICH. — Friedman Integrated Real Estate Solutions has arranged the lease of a 17,925-square-foot industrial space at 12752 Stark Road in Livonia. The landlord, 12752 Stark LLC, leased the space to Elsie Inc. Phil Konopitski of Friedman represented both the tenant and the landlord in the transaction.