SCOTTSDALE, ARIZ. — GPS Insight has signed a seven-year lease for 49,571 square feet of space at Henkel Corporate Center in Scottsdale. The center is located at 19001 N. Scottsdale Road. The GPS fleet tracking company will relocate its corporate headquarters from nearby 21803 N. Scottsdale Road. The center is now 95 percent occupied. GPS was represented by Matt Coxhead and Ryan Bartos of Cushman & Wakefield of Arizona. The landlord, Henkel/The Dial Corporation, was represented by Steve Corney and Andrew Medley of Jones Lang LaSalle.
CORONA, CALIF. – A 42,000-square-foot retail center in Corona has sold to Corona Capital, LTD for $4.6 million. The center is located at 4300 Green River Promenade. It is a multi-tenant investment property zoned for retail, medical and office use. Roger Niez, David Knowlton and Steve Liu of NAI Capital’s Orange County office represented both the buyer and the seller, Wayman Promenade LLC, in this transaction.
SANTA MONICA, CALIF. — Cross Campus has signed a seven-year lease for 13,337 square feet in Santa Monica. The space is located at 1558 10th Street. Cross Campus will be relocating and expanding from its current operations just two blocks away at 820 Broadway. Randy Starr and Tim Dornan of Avison Youngrepresented both Cross Campus and the landlord, Tenth & Colorado Associates Ltd., in this transaction.
ATLANTA — HFF has arranged the sale of Virginia Highlands, a 270-unit apartment community located at 609 Virginia Ave. in Atlanta’s Virginia Highland district. TA Associates Realty purchased the apartment community for $41 million free and clear of debt. The apartment community has frontage along Atlanta’s Beltline and is close proximity to Piedmont Park and the upcoming Ponce City Market retail development. Jason Nettles and Megan Thompson of HFF represented the seller, Fairfield Residential, in the transaction.
ATLANTA — Atlanta-based RCG Ventures has purchased three shopping centers in North Carolina and Mississippi. The properties include Willowdaile Shopping Center in Durham, N.C., Forest Hills Centre in Wilson, N.C., and Greenville South in Greenville, Miss. Willowdaile Shopping Center is a 93,217-square-foot center located at the corner of Guess and Horton roads. Its tenants include Ollie’s Bargain Outlet, Dollar Tree and Starbucks Coffee. CBRE’s Charlotte office represented the seller, a public REIT, in the transaction. Forest Hills Centre is a 73,102-square-foot center anchored by Big Lots and Rent-A-Center. CBRE’s Charlotte office also represented the seller, a public REIT, in this transaction. Greenville South is a 125,211-square-foot shopping center just south of Highway 82. Kroger anchors the center. RCG Ventures purchased the center directly from the lender, which had previously foreclosed on the asset.
CHAPEL HILL, N.C. — NorthMarq Capital has arranged $28.9 million in acquisition financing for Foxcroft Apartments, a 248-unit community located at 545 Ashley Court in Chapel Hill. Brett Mason of NorthMarq Capital’s Raleigh, N.C., office arranged the three-year, interest-only loan through Latitude Management Real Estate Investors on behalf of the borrower, Eller Capital Partners.
JACKSON, MISS. — Meridian Capital Group LLC has arranged $13.5 million in acquisition financing for The Park at Moss Creek Apartments, located at 5000 Ridgewood Road in Jackson. Noam Kaminetzky of Meridian Capital Group’s Boca Raton, Fla., office arranged the seven-year loan fixed at a 4.55 percent interest rate. An agency lender provided the loan.
WASHINGTON, D.C. — Marcus & Millichap has arranged the sale of The Gibson building, a 2,780-square-foot retail property located at 2009 14th St. N.W. in Washington, D.C. The property sold for nearly $2 million. The Gibson, a speakeasy style bar, is the sole tenant of the property. Josh Feldman and Nathan Pealer of Marcus & Millichap’s Washington, D.C., office represented the seller, a private investor, in the transaction. Feldman and Pealer also secured and represented the buyer, 2009 Bond St Equities LLC.
MILWAUKEE, PEWAUKEE, FRANKLIN, WIS. — Clarion Partners has sold its five-building industrial portfolio in southeast Wisconsin totaling 422,950 square feet for $20.5 million. Minneapolis-based Biynah Industrial Partners LLC was the buyer. The buildings are located in Pewaukee, Franklin and Milwaukee. Tom Shepherd, Mike Fardy and Jim Larkin of Colliers International represented the seller in the transaction and Colliers was the sole broker in the transaction. In April 2012, Clarion sold four industrial buildings totaling 607,000 square feet in Wisconsin. With both portfolio sales, Clarion has sold all of its holdings and has officially exited the Wisconsin industrial market.
EVANSTON, ILL. — Co-developers Fifield Cos. and Carroll Properties have broken ground on E2, a 356-unit luxury apartment project in downtown Evanston. The development will include two buildings located at 1881 Oak Ave. and 1890 Maple Ave., about 19 miles north of Chicago. The property at 1881 Oak will span 16 stories and 1890 Maple will include 14 stories. The buildings will be connected by a four-story structure that will feature three floors of parking and a fourth-floor amenity deck. The majority of the development will be luxury rentals, but the property will also offer 4,000 square feet of ground-floor retail space and 12 street-level, three-bedroom townhomes along Emerson Street. The three-story E2 townhomes range in size from 1,600 square feet to 1,750 square feet and have three bedrooms, two-and-a-half baths and a third-floor outdoor deck. Apartment tower units at E2 will range from 500 to 1,300 square feet and offer studio, one-, two- and three-bedroom layouts. FitzGerald Associates Architects will serve as the principal architect for the project, while Evanston-based Morgante Wilson Architects will be the interiors architect and will design three models for E2.