GILBERT, ARIZ. — Gilbert Town Center, a 159,000-square-foot retail shopping center, has sold to BH Properties for $13.4 million. The Class A center is located at 1040 S. Gilbert Road in Gilbert. The seller was a TIC ownership. The transaction was executed by Greg Valladao of Cushman & Wakefield.
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FONTANA, CALIF. — American Bolt & Screw has leased 72,650 square feet of industrial space at a Fontana industrial building. The 186,118-square-foot building is located at 14650 Miller Ave. within the Fontana Commerce Center business park. The five-year lease will commence in April. Walt Chenoweth and Bob Woods represented both the tenant and the landlord, Dolphin Partners, in this transaction.
SAN FRANCISCO — A 12-unit apartment building in San Francisco has sold to a family limited liability investor for $6.4 million. The community is located at 1355 Bay Street in the Marina District. Clinton Textor and Sanford G. Skeie of Marcus & Millichap’s San Francisco office represented both the buyer and the seller, a private investor, in this transaction.
PHOENIX — North Park Plaza, a 101,361-square-foot shopping center in Phoenix, has completed its remodel. The three-building center is located at 5020 W. Osborn Road. It is anchored by Safeway. Notable tenants include Frazee Paint, Peter Piper Pizza, Subway and Great Clips. The property received a new façade, columns wrapped in stone, refreshed landscaping and a two-tone paint scheme. It is owned and operated by Westwood Financial Corp.
CORONA, CALIF. — CHOC (Children’s Hospital of Orange County) Children’s Health Center has opened in Corona. The 5,735-square-foot center is located at 854 Magnolia Ave. Though it is one of several community health centers that CHOC is opening, this is the first facility to service Corona. CHOC signed a lease in late 2013 for the space. It was represented by NAI Capital’s Sonya Dopp-Grech, Steve Lewallen and Ryan Dopp. Bob Bush and John Bosko of the same firm represented the landlord, Magnolia Medical Plaza, in this transaction.
WEST PALM BEACH, FLA. — McCraney Property Co. has plans to develop a new speculative warehouse/distribution center in its Vista Business Park, a 500-acre, Class A business park in West Palm Beach. The two-building, 100,000-square-foot project is the first new construction at the park in five years. City National Bank provided construction financing, Jose Jaramillo of JJ Architectural Group designed the facility and Michael Falk of Michael Falk & Co. LLC is handling leasing responsibilities. McCraney Property Co. expects to break ground in the first quarter of this year.
MIAMI — FA Commercial has arranged the sale of Plaza 8 St. Neighborhood Shopping Center, located at 9600 S.W. 8th St. in Miami. The 55,814-square-foot shopping center was 96 percent leased at the time of sale to tenants including New Era Health Center and Pizza Hut. The property sold for approximately $8.5 million. Fabio Faerman of FA Commercial represented the undisclosed seller in the transaction.
TYSONS CORNER, VA. — A joint venture between Kettler and PS Business Parks LP has filed an application with Fairfax County to develop a luxury mixed-use apartment community in Tysons Corner, about 16 miles west of Washington, D.C. The joint venture plans to develop the property at 7915 Jones Branch Drive beginning in late 2015, according to Kettler. The property will span between 275 and 400 residential units and include a small public park, a dog park and play area for children. The joint venture has selected Design Collective Inc. to design the new community. The design team also includes landscape architect Parker Rodriguez Inc. and civil engineer VIKA.
BROOKLYN PARK, MD. — The Greysteel Co. has arranged the $6.5 million sale of Arundel Village Plaza shopping center, a 54,480-square-foot shopping center located at 5501-5517 Ritchie Highway in Brooklyn Park, about five miles south of Baltimore. The property was 88 percent occupied at the time of sale to eleven tenants including a Taco Bell/Long John Silver’s combination restaurant, Domino’s Pizza, Valvoline Instant Oil Change and the state of Maryland Department of Health & Mental Hygiene. Gil Neuman led Greysteel’s retail division to represent the seller, BTR Capital Group, and procure the buyer, Oak Tree Management.
CHICAGO — Arthur J. Rogers & Co. has completed a lease on behalf of DHL Global Forwarding for a 491,120-square-foot, build-to-suit near O’Hare International Airport in Chicago. The $35 million project, located on a 24-acre parcel north of the airport, recently broke ground. The new Global Forwarding Center for DHL, the largest facility for the firm in the nation, will include 53,000 square feet of office space and a 423,030-square-foot warehouse. Jeanne Rogers of Arthur J. Rogers & Co. represented DHL Global Forwarding in the transaction. Ken Franzese and John Cassidy of Lee & Associates represented the ownership. Aeroterm is developing and constructing the facility, which is slated for a fall completion.