Property Type

EVANSTON, ILL. — Walgreens has plans to build what the company believes will be the nation’s first net-zero energy retail store, which engineers predict will produce energy equal to or greater than it consumes. Walgreens plans to achieve a net-zero energy building by utilizing solar panels, wind turbines, geothermal technology, energy-efficient building materials, LED lighting and ultra-high-efficiency refrigeration. The store will be located in Evanston, at the intersection of Chicago Avenue and Keeney Street, where demolition of an existing Walgreens store now is under way. The Chicago-area location allows easy access for Walgreens engineers based at the company’s headquarters in Deerfield, to measure the store’s performance for an entire year to determine if the store reaches its goal of net-zero energy use.

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ASTON AND BENSALEM, PA. — Miller Investment Management and Hayden Real Estate Investments, partners in MIM-Hayden Real Estate Funds, have acquired five industrial properties, located along the Interstate 95 corridor in Aston and Bensalem, for $35 million. The acquired assets include 105 Commerce Drive, along with 20 and 30 McDonald Blvd. and an 18-acre development parcel, which are located in the I-95 Campus Industrial Park in Aston, about 25 miles southwest of Philadelphia. MIM-Hayden also acquired 3600 Progress Drive, located in the Expressway 95 Business Park in Bensalem, about 20 miles northwest of Philadelphia. The existing buildings total 961,347 square feet of industrial space.

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NEW YORK CITY — Massey Knakal has arranged the sale of 52 W. 21st St., a renovated mixed-use building, for $4.3 million. The five-story building, located on the south side of 21st Street between Fifth Avenue and Avenue of the Americas, includes ground-floor retail and four apartments above. Originally built in 1862, the building underwent a complete transformation that included façade work, gut rehabilitation of each floor and new mechanical systems. All units have individual gas boilers and hot water heaters with separate metering.

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LYNDHURST, N.J. — ARGO Turboserve Corp. has expanded its office at Cityview Corporate Center in Lyndhurst by 15,000 square feet to a total of 35,000 square feet. The 138,000-square-foot, three-story Cityview Corporate Center is situated on 8.4 acres at 160 Chubb Ave. in Lyndhurst. Curtis Foster of Cushman & Wakefield represented the building’s owner, a Boston-based pension fund advisor, in the deal. John Friedland of United Realty Advisors LLC represented ARGO Turboserve Corp.

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CARROLLTON, TEXAS — High Street Residential, the residential subsidiary of Trammell Crow Co., has broken ground on Phase II of Union at Carrollton Square in Carrollton. Union at Carrollton Square is a transit-oriented, mixed-use community spanning 100,617 square feet and consisting of 132 Class A residential units and ground-floor retail space. Additionally, Twisted Root Burger Co. has signed a 4,658-square-foot, long-term lease to occupy ground-floor space. The restaurant is scheduled to open this spring. Carter Wilson of Cambridge Cos. represented Twisted Root in the lease transaction. John T. Evans of John T. Evans Co. represented High Street. Phase II of the community will offer one- and two-bedroom units, a grilling area for entertaining, an outdoor fireplace and lounging area, bocce ball court, resort-style pool, fitness center, cyber cafe and a 155,330-square-foot parking garage with 337 private and 125 public spaces. Construction is slated for an early 2014 completion.

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HOUSTON — Stream Realty Partners has commenced renovations of Thirty One Twenty, a 93,000-square-foot boutique office building in Houston's Greenway submarket. The office building is located at 3120 S.W. Freeway. Stream acquired the property in August 2012 in a joint venture partnership with American National Insurance Co. The renovations will include the replacement of the building's arched windows, modernization of elevator systems, expansion of the lobby area, installation of modern lighting and furniture in the lobby,addition of greenery and landscaping between the parking garage and main entrance, and installation of a new HVAC system. Clif Kennedy of Stream will manage construction for the project and Ziegler Cooper Architects is providing architectural and design services. Craig McKenna and Adam Jackson of Stream Realty provide leasing services for the property, which is 82 percent leased. Renovations are expected to wrap up in the fall.

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HOUSTON — CBRE has arranged the sale of three shopping centers in the Greater Houston area totaling 313,344 square feet. The properties include Northwest Village in Houston, Fairway Centre III in Pasadena and The Plazas at Grand Parkway in Katy. Northwest Village is a 189,968-square-foot community center that is 90 percent leased. Houston-based Gordon Partners purchased the center from Denver-based Baceline Investments. Fairway Centre III is a 103,876-square-foot power center fully leased by Sports Authority, Conn's and Office Depot. Fidelis Realty Partners purchased the center from Trammell Crow Co. David Aaronson and Jeff Stein of CBRE secured the equity and debt for the transaction through a life insurance company lender. The Plazas at Grand Parkway totals 19,5000 square feet and is 83 percent leased. Houston-based Vista Equities Group purchased the center from Wellesley Hills, Mass.-based Sun Life Assurance Co. Kevin Holland, Chris Cozby and Chris Gerard of CBRE's National Retail Investment Group represented the sellers in the three transactions.

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THE WOODLANDS, TEXAS — Marcus & Millichap has arranged the sale of the 85-room Fairfield Inn & Suites by Marriott, located at 24485 Interstate 45 in The Woodlands. Fairfield Inn is the closest hotel to the new ExxonMobil campus under construction. Michael Yu, Rahul Bijlani and Eric Guerrero of Marcus & Millichap's National Hospitality Group in Houston represented the seller, a Houston-based hotel developer. The buyer was an out-of-state hotel investor who owns multiple hotels across several states.

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ARLINGTON, TEXAS — Venture Commercial has secured a second location for antique mall owners Chris Sheidler and Betsy Sheidler. The 53,000-square-foot Cooper Street Antique Mall has opened for business at 4905 S. Cooper St. in Arlington. Christopher Gibbons, Ken Reimer and Katie Vance of Venture Commercial represented the Sheidlers in the lease transaction. John Zikos and Chris Booras, also of Venture, represented the landlord, Sams Dice Arlington LP.

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SAN JOSE, CALIF. – A pair of Class A office buildings in San Jose that are fully occupied by the Echelon Corporation has received $14 million in refinancing. The buildings are located at 550 Meridian Ave. and serve as the firm’s headquarters. Financing was secured by Paul Schroeder of Cohen Financial’s San Francisco office on behalf of a local commercial real estate developer. The fixed-rate, long-term, non-recourse financing was provided by Sun Life Financial.

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