HOFFMAN ESTATES, ILL. — DeBartolo Development LLC has sold two adjacent Chicago area retail centers — Poplar Creek Crossing and Prairie Stone Crossing — to Pine Tree Commercial Realty LLC. DeBartolo acquired a defaulted note on the 60,000-square-foot Prairie Stone center in 2011 and purchased the neighboring 257,000-square-foot Poplar Creek shopping center in 2013. Located at state routes 59 and 72, just north of Interstate 90 in Hoffman Estates, both properties are approximately 90 percent leased. Anchor tenants at Poplar Creek include T.J. Maxx, OfficeMax, Michael’s, PetSmart, World Cost Plus Market and Ross Dress for Less. Anchor tenants at Prairie Stone include Sports Authority and Stone Eagle Tavern.
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OAK CREEK, WIS. — The Dickman Co. Inc./CORFAC International has arranged the lease of a 45,000-square-foot industrial building in Oak Creek, a suburb approximately 12 miles south of Milwaukee. Amiran Technologies will occupy space at 7221 S. 10th St. Samuel M. Dickman Jr. and Samuel D. Dickman of the Dickman Co. represented the landlord, Murphy Real Estate LLC. Travis Tiede and Adam Matson of NAI MLG Commercial represented the tenant.
AURORA, COLO. – An unnamed buyer has acquired the 600-unit Fitzsimons apartment community in Aurora for a reported $120 million. The community, referred to as “21 Fitzsimons,” is located at 2100 Ursula Streetwithin the Fitzsimons Life Science District. Fitzsimons’ first phase included 240 apartment homes and six ground-floor retail suites totaling 16,098 square feet. It was completed in 2008. Phase II contained 187 apartment homes that were built in 2012. Recently completed Phase III contains 173 apartment homes and a 1,364-square-foot retail space. The seller, the Pauls Corporation, was represented by ARA Colorado’s Doug Andrews, Jeff Hawks, Terrance Hunt and Shane Ozment.
SANTA ANA, CALIF. — Westfield MainPlace Shopping Center in Santa Ana is set to undergo a $50-million revitalization and enhancement. The center is located at 2800 N. Main Street. The revitalization will include the addition of three new tenants to the currently vacant Macy’s Men’s and Home Furnishings store. Ashley Furniture, Round 1 Entertainment and 24 Hour Fitness will soon occupy this 142,500-square-foot space. Ashley Furniture will open later this year, while Round 1 Entertainment and 24 Hour Fitness will open in the first half of 2015. The center is also set to receive four new casual dining restaurants, including Panini Café, before the end of the year. Westfield MainPlace is developing two additional dining areas, including “Restaurant Row” on the north end near JCPenney and “Westside Dining” on the its west side. Recent additions to Restaurant Row include Boudin | SF and Johnny Rockets. New dining options under construction at Westside Dining, located below the Dining Court, include Blaze Pizza, Starbucks and Dog Haus. The new tenants will join the nearly 200 already-existing stores and restaurants. The new retail and dining openings will roll out from November 2014 through June 2015. The center will also add a second family …
WEST HOLLYWOOD, CALIF. – Celebrity chef and restaurateur Wolfgang Puck is relocating his corporate headquarters to the Pacific Design Center (PDC) in West Hollywood. The headquarters will be located in the center’s Blue Buildingat 8687 Melrose Ave. Once the move is complete, Puck’s entire operations at PDC will include the corporate offices of Wolfgang Puck Worldwide, a test kitchen, and a filming kitchen and studio. This is in addition to Puck’s already existing catering operation and Red Seven Restaurant inside the Green Building. The corporate headquarters will be relocating from nearby Beverly Hills. The Blue Building was originally built in 1975. It was the first of the three buildings to be constructed at the 1.2-million-square-foot PDC, which is owned by Charles S. Cohen.
BURBANK, CALIF. — Tourmaline Capital has acquired Plaza Del Sol, a 166,216-square-foot retail center in Burbank, for $26 million. The plaza is located at 10950 Sherman Way. Plaza Del Sol is situated near the 170, 5 and 134 freeways. It is adjacent to Bob Hope Airport. The plaza is fully occupied by tenants like Vallarta Supermarkets, Powerhouse Gym, Oakwood Corporate Housing and Freshology. Tourmaline was represented by Geoff Tranchina and Jason Gribin of Wilson Commercial Real Estate. The seller, HRB Plaza Del Sol LLC, was also represented by Tranchina and Gribin, in addition to Deborah Collins of the Collins Company. HRB is an entity of Barco Real Estate Management.
AURORA, COLO. – A private local investment group has purchased the 283-unit Vista Park Apartments in Aurora for $17.2 million. The community is located at 12707 E. Mississippi Ave. Vista Park is situated near Lowry Air Force Base, Fitzsimons Medical Center and Stapleton. It is also near the future home of RTD FasTracks I-225 light-rail line, which will provide access to much of the metro area via Mississippi Avenue and I-225. The community underwent a $3-million renovation between 2011 and 2012. The unnamed seller was represented by Unique Apartment Group of Unique Properties.
LUBBOCK, TEXAS — A 103-room, four-story Courtyard by Marriott has opened in Lubbock, home of Texas Tech University. The 76,118-square-foot hotel is located at Marsha Sharp Freeway and Avenue V, near the Texas Tech Campus. Dallas-based Mayse & Associates Inc. was the project’s architect. The hotel’s main tower is painted “Raider Red,” the same color worn by the school’s Red Raider athletic teams. Lubbock-based Greenstreet Inc. built the hotel, which is owned and managed by Midland-based Insignia Hospitality Group.
THE WOODLANDS, TEXAS — Marcus & Millichap has arranged the sale of 242 Crossing, a 41,721-square-foot retail center in The Woodlands. Terms of the sale were not released but the asking price for the property was higher than $11.5 million. Nate Newman with Marcus & Millichap’s Woodlands office represented the seller, a local developer. The center is located at 8000 Highway 242.
SUGAR LAND, TEXAS — HFF has arranged acquisition financing for the Hyatt Place Houston/Sugar Land, a 214-room hotel in Sugar Land, just south of Houston Proper. HFF worked on behalf of the borrower, Noble Investment Group, placing a five-year, floating-rate loan with Texas Capital Bank. The hotel is located on 3.7 acres at 16730 Creek Bend Drive at the intersection of Highway 6 and U.S. 59. The hotel opened in 2010 with 6,000 square feet of meeting space, a pool, gym and business center. John Bourret and Colby Mueck led HFF’s team representing Noble.