TAUNTON, MASS. — Dallas-based MGHerring Group and Tricom Real Estate Group have acquired Silver City Galleria in Taunton, located about 30 miles south of Boston. Silver City Galleria is a 1 million-square-foot, two-level enclosed shopping center anchored by Macy’s, JC Penney, Best Buy, Sears and Dick’s Sporting Goods. In addition, the mall features numerous specialty stores including H&M, Forever 21, Aeropostale, American Eagle Outfitters, Bath & Body Works, Express, Gymboree, Hollister, The Children’s Place, Victoria’s Secret, Wet Seal and Zumiez. Tricom will oversee leasing at Silver City Galleria. The MGHerring Group will oversee the property management and redevelopment of the center.
CORPUS CHRISTI, TEXAS — McShane Construction Co. has received a construction award from developer Continental Properties Co. Inc. for the Springs at Corpus Christi, a 284-unit multifamily complex. The community is located at 5702 Timbergate Drive and consists of 13 two-story apartment buildings. The development will feature units with attached garages together with four detached garages and five carport areas. The complex will offer studio, two- and three-bedroom units with ground level private entries. Amenities include a gated entry, community clubhouse with on-site property management, a resort-style swimming pool and outdoor entertainment areas. The clubhouse will include a complementary coffee bar, 24-hour fitness center with yoga and Pilates areas and a fenced, leash-free dog park. BSB Designs is providing comprehensive architectural services for the development. The Springs is scheduled for completion in September 2014.
DALLAS — CBRE has brokered the sale of Thanksgiving Tower, a 50-story office building comprising 1.4 million square feet in Dallas, to a partnership led by Woods Capital Management LLC. John Alvarado, Gary Carr and Eric Mackey of CBRE arranged the transaction on behalf of the seller, Berkadia. The tower is located at Elm and North Ervay streets in Dallas’ revitalized central business district. The building held a 55 percent occupancy rate at the time of sale. The property is anchored by Gardere Wynne Sewell LLP and serves as the headquarters of Petro-Hunt. It is also home to the Tower Club Dallas and XTO Energy, Inc.
IRVING, TEXAS — Lee & Associates has secured the sale of a 43,400-square-foot industrial building at 1420 W. Walnut Hill Lane in Irving. Nathan Denton of Lee & Associates represented the seller, Felder Property Group, in the transaction with the buyer, Glasswerks.
DALLAS — HFF has arranged a $7.75 million refinancing for Park Creek Manor, a 322-unit multifamily community located near the northwest corner of West Illinois Avenue and South Westmoreland Avenue in Dallas. HFF worked on behalf of AmeriSouth Realty to secure a seven-year, fixed-rate loan through Southwest Securities FSB. The property is 99 percent leased and offers a mix of one-, two- and three-bedroom units as well as a swimming pool. John Brownlee led the HFF team representing the borrower.
FORT WORTH, TEXAS — Tandy Leather has opened a new 23,000-square-foot flagship retail store located along the I-20 Freeway in Fort Worth. The new store is the first stand alone retail property for Tandy. Bob Moore Construction acted as contractor, and Alliance Architects served as architect for the property. The retail facility features a fully glass front and tilt-up construction. This building will act as the prototype for future Tandy properties.
CHANDLER, ARIZ. – The 290-unit Villa Pallavicini in Chandler has sold to a company formed by Alliance Residential Co. for $37.5 million. The community is located at 635 South Ellis Street near the Price Corridor, which is known as one of the Southwest’s leading tech hubs. This corridor is home to Intel, eBay, PayPal, Orbital Sciences, Amkor Technology, Isagenix, Freescale Semiconductor, Microchip Technology and Motorola.
SAN BERNARDINO, CALIF. – HauteLook has signed a 10-year lease to occupy the Glen Helen Distribution Center, a 604,000-square-foot building in San Bernardino. The center is located at 17335 Glen Helen Parkway. The Nordstrom-owned shopping website will be expanding and relocating from its 300,000-square-foot facility in nearby Fontana. The Glen Helen Distribution Center was developed by Alere Property Group. It will be used for HauteLook’s inventory storage, fulfillment and returns processing. HauteLook plans to occupy the distribution center this September.
ANAHEIM, CALIF. — Ball Road Business Park in Anaheim has sold to Providence Capital Speed Fund for $9.7 million. The 114,984-square-foot park is located at 701-741 East Ball Road. Providence was represented by CBRE’s Stan Tomer. The seller, The Realty Associates Fund VI, L.P., was represented by Dan Vittone and Alan Pekarcik of Avison Young’s Irvine office.
LOS ANGELES – A mixed-use property located in the Koreatown submarket of Los Angeles has sold to a private Seattle investor for $4.7 million. It is located at 800 S. Normandie. The property contains 44 residential units and 3,600 square feet of retail space. The retail component is leased to a single tenant that operates a small neighborhood market. Janet Neman and Bryan Glenn represented both the buyer and the seller, Executive Commercial Properties, in this transaction.