LOS ANGELES – A 4,020-square-foot retail property near Los Angeles’ Melrose District has sold to an unnamed buyer for $6.8 million. The two-level, street-front property is located at 8455-8459 Melrose Place in West Hollywood. It is fully leased to Frederic Fekkaiand Equipment. Fekkaihas seven years remaining on its 10-year, NNN lease, while the clothing company just signed a new seven-year lease. The special servicer seller was represented by CBRE’s National Retail Investment Group-West in this REO sale.
ALAMEDA, CALIF. — The Girl Scouts of Northern Californiahas leased 20,688 square feet at the Harbor Bay Business Park in Alameda. The Class A building is located at 1650 Harbor Bay Parkway. The organization will be relocating from 7700 Edgewater Drive in Oakland to its new space in May. The Girl Scouts were represented by Barry Cohn, David Englert and Mel Harrison of Cassidy Turley. The landlord, Worthington California Investments, was represented by John Dolby and Michael Raffetto, also of Cassidy Turley.
REDWOOD CITY, CALIF. — Storm8 has leased a 50,305-square-foot building inside Redwood City’s Bayshore Technology Park. The Class A building is located at 1000 Bridge Parkway. The social games developer was represented by Erich SollmanofCassidy Turley. The park’s owner, Harvest Properties, was represented by MikeMoran, Ben Paul, RandyArrillaga, andRandy Keller, also of Cassidy Turley.
ATLANTA — The Development Authority of Clayton County and the Clayton County office of Economic Development will move forward with plans to develop the $100 million University Station Town Center, a live-work-play community four miles south of Hartsfield-Jackson Atlanta International airport. The 165,000-square-foot development will be located near the National and State Archives facilities. The project will include 100,000 square feet of retail, a hotel with up to 100 beds, a maximum of 50,000 square feet of office space, and up to 20,000 square feet of senior living space. The project is already home to a soundstage where several recent projects have been filmed, including the upcoming Scary Movie 5.
JACKSONVILLE, FLA. — A joint venture between Behringer Harvard Opportunity REIT II and ApexOne Investment Partners has acquired Wimberly at Deerwood, a 312-unit apartment community located at 9727 Touchton Road in Jacksonville. The apartments include one, two or three bedrooms, nine-foot ceilings, wood flooring in the kitchens and entryways and full-size washers and dryers. The units average 914 square feet. Community amenities include a swimming pool, fitness center, business center and 60-person theater room. Behringer Harvard Opportunity REIT II is the controlling partner.
TALLAHASSEE, FLA. — Cousins Properties Inc., with Watkins Retail Group and New Horizon Retail, has completed the development of the 147,000-square-foot Mahan Village in Tallahassee. The $26 million project is located at Capital Circle and Mahan Drive. A 67,664-square-foot Academy Sports + Outdoors, along with a 45,600-square-foot Publix anchor the property. The Publix relocated to Mahan Village from a smaller store across the street from the project. The Academy Sports + Outdoors is the only location for the company in Tallahassee. Other tenants include Uncle Maddio's Pizza Joint, Bruegger's Bagels, Moe's Southwest Grill and H&R Block.
ATLANTA — Hines has started construction of @1377, a 215-unit multifamily complex on Dresden Drive in Atlanta. The development represents the company's first for-rent residential project in the region. The four-story building will have an attached multi-level parking garage. Amenities will include a swimming pool, fitness center, Internet cafe and sports lounge. The project will also feature studios, and one- and two-bedroom units ranging in size from 468 to 1,537 square feet. General Contractor Urban Oaks Builders expects occupancy of the first units this October with final completion in December 2013. The Preston Partnership of Atlanta designed the project.
BLYTHEWOOD, S.C. — Pinchal & Co. LLC has named Binswanger the exclusive agent for the sale of a 350,000-square-foot industrial building on 23.5 acres at 1091 Carolina Pines Drive in Blythewood. Constructed in 1999, the building includes reinforced concrete floors, 31- to 35-foot clear ceiling heights, 70 dock doors and 8,280 square feet of office space. The property overlooks I-77 and is located eight miles from I-20.
CHICAGO — Welsh Property Trust has purchased the Core Midwest Distribution Portfolio, which consists of five buildings totaling 2,711,183 square feet, for $99.5 million. The industrial buildings are 94-percent leased to six tenants. Properties in the portfolio include: 535 Shingle Oak Drive in Chicago, a 150,000-square-foot, fully leased property; 1105 E. Northfield Drive in Brownsburg, Ind., a 526,200-square-foot, fully leased property; 40 Logistics Blvd. in Walton, Ky., a 543,512-square-foot, fully leased property; 6766 Pontius Road in Groveport, Ohio, a 754,000-square-foot, 78.8 percent leased property; and 3051 Creekside Parkway. in Obetz, Ohio, a 737,471-square-foot fully leased property. Jones Lang LaSalle represented the seller, New York City-based KTR Capital Partners, in the deal.
BLAINE, MINN. — A 5,005-square-foot, net-leased restaurant property has sold for $1.8 million in Blaine, located about 20 miles north of Minneapolis. The building, which is occupied by Culver’s restaurant, is located at 10550 Baltimore St. Marcus & Millichap represented the seller, a limited liability company, in the deal.