TUALATIN, ORE. — Timberland Town Center, a 90,000-square-foot center, is set to break ground soon in Tualatin. The $30-million development will be located at N.W. 118thAve. It is scheduled to open in fall 2014. Oregon-based grocer Market of Choice will anchor the center. The new development is part of the Timberland Master Plan, which will eventually include additional housing, a middle school and a community garden. The center is being developed by Gramor Development and designed by LRS Architects. Leasing will be handled by New & Neville Real Estate Services.
HONOLULU — Bloomingdale's has announced its plans to enter the Hawaiian market. It will open a 167,000-square-foot, three-level store at the Ala Moana Center in Honolulu in fall 2015. The new store will be located in a portion of Ala Moana that is set to undergo a significant redevelopment, which will commence in 2014. Macy’s, Bloomingdale's parent company, already has an outpost at the center. Ala Moana is owned by General Growth Properties.
VALLEJO, CALIF. – The 156-unit Austin Creek Apartments in Vallejo has sold to DE Village Austin Creek, LLC for $15.3 million. The community is located at 55 Valle Vista Ave. just north of Berkeley. The acquisition allowed the buyer to complete a 1031 Exchange. John Gallagher of TRI Commercial/CORFAC International represented both the buyer and the seller, Austin Creek Apartments, L.P., in this transaction.
MCLEAN, VA. — LCOR has received county approval for the development of The Commons, a transit-oriented community to be constructed in McLean. Phase I will include the property’s north parcel, which comprises 21 acres located at the corner of Anderson Road and Chain Bridge Road. LCOR received approval to develop up to 2,500 residential units, approximately 50,000 square feet of street-level retail space and green space. LCOR anticipates beginning construction for Phase I in the second half of 2014.
GREENVILLE, S.C. — A joint venture between Charleston, S.C.-based Hudson Capital Investments and Phoenix-based RW Partners has purchased a Class A apartment community in Greenville from Carroll Companies. Candleton Village is located at 741 Woodruff Road near the intersection of Interstates 85 and 385. Constructed in 2006, the property contains one- through three-bedroom units averaging 986 square feet in size. Jason Nettles and Megan Thompson of Holliday Fenoglio Fowler represented Carroll Companies in the transaction.
TIFTON, GA. — Jones Lang LaSalle (JLL) has brokered the sale of Tifton Corners, a 186,629-square-foot shopping center located at 21 Virginia Ave. South in Tifton. Tenants of the center include Big Lots, Save A Lot, Tractor Supply Co., Dollar Tree, Citi Trends and Hibbett Sports. Occupancy was 84 percent at the time of closing. JLL’s Margaret Caldwell and Kris Cooper represented the seller, Atlanta-based RCG Ventures. The buyer was a Georgia-based limited liability company. The acquisition price was not released.
NORTH EAST, MD. — Cushman & Wakefield has completed the sale of a 345,600-square-foot industrial property in North East. The building is located on 36 acres near Interstate 95 at 4 Center Drive. It is fully leased to the General Services Administration and Herr Foods. Cushman & Wakefield’s Christopher Abramson, Brian Kruger, Nicholas Signor and Jonathon Chalkey represented the undisclosed seller. The buyer is SK Realty Management.
SHEPHERDSVILLE, KY. — Dermody Properties has acquired approximately 36 acres in Shepherdsville for a new speculative industrial project. Dermody is partnering with Granite REIT to construct a 624,000-square-foot industrial building within Settlers Point Business Park at the interchange of Interstate 65 and Highway 44. The building will feature 36-foot clear ceiling heights and 60 docks doors with cross docking capability and expansion capability up to 117 docks. Dermody expects to break ground for the project in June and complete it by the fourth quarter of 2014. Summit Construction is serving as general contractor, and Kovert Hawkins Architects is the designing the building. Tom Sims of CB Richard Ellis’s Louisville office is marketing the project for lease.
CLEVELAND, OHIO — Cleveland Mayor Frank Jackson and Cuyahoga County executive Ed FitzGerald are partnering for a $350 million downtown development. The project includes a $260 million convention center hotel with 600 to 700 rooms; a $95 million endeavor that includes a pedestrian bridge to the lakefront; 740-space parking garage; overhaul of Public Square; and improvements to the grassy downtown malls, East 3rd Street and existing bridges over railroad tracks at West 3rd and East 9th streets. “This development will make downtown more attractive to residents and visitors and ensure better public pathways through the city,” Jackson said in a statement.
IOWA CITY, IOWA — Balfour Beatty Campus Solutions LLC has agreed to design, build, finance, own and operate a $31 million housing property for graduate students at the University of Iowa in Iowa City. The new student housing will replace the current Hawkeye Court complex, which was built in the 1960s. Located on west campus, the development will include 270 one- and two-bedroom units targeted at Iowa’s more than 9,500 graduate students, as well as faculty. The new facilities will consist of five, three-story buildings totaling 265,600 square feet. Additionally, a separate one-story community center totaling 5,400 square feet will be built to house the property management offices and common spaces for resident use, including a fitness center, laundry facility, multipurpose space and access to the campus shuttle service. The project is expected to break ground later this month and open in August 2014. Structured as a public-private partnership, Balfour will manage the financing and ongoing operations of the project through a 40-year ground lease.