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.
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.
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.
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.
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.
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.
PHOENIX – J&K Cabinetry has leased 37,522 square feet at the Hohokam 10 Business Center in Phoenix. The 405,000-square-foot complex is located at 4445 E. Ellwood Street. The affordable cabinetmaker will use the space to store merchandise, and to sell to local homebuilders. J&K Cabinetry was represented by Thomas Knaub of Colliers International. The landlord, Arizona Department of Transportation Right of Way Group, represented itself in this transaction.
REDMOND, WASH. – Berkshire Income Realty has acquired the 134-unit Elan Redmond Town Center apartment complex for an undisclosed sum. The community is located at 16325 Cleveland Street in Redmond. It was built in 2013. Berkshire Communities, the property management division of Berkshire Group, will manage the apartment community. The seller was Greystar and equity partner Resmark Apartment Living.
DOWNEY, CALIF. – A 26,877-square-foot industrial building in Downey has sold to MT Real Estate LLC for $3.7 million. The building is located at 11899 Woodruff Ave. The building will serve as an automotive storage warehouse. MT Real Estate was represented by Voit’s Joe Winklemann. The seller, the Prichard Family Trust, was represented by John M. Bowman of Heger Industrial and Dennis Slattery of Charles Dunn.
NEW YORK CITY — Avison Young has arranged the sale of United Cerebral Palsy of New York City’s (UCP of NYC) former program center at 122 East 23rd St in Manhattan. Toll Brothers purchased the property for $135 million, or $750 per square foot. The asset includes a land parcel and an existing four-story, 60,000-square-foot building. The property offers a total of 180,000 square feet of development rights with zoning that allows for residential, retail and community uses. Jon Epstein, Vincent Carrega, Neil Helman and Charles Kingsley of Avison Young’s New York City-based capital markets team represented UCP of NYC and identified the buyer in the transaction.
