SCOTTSDALE, ARIZ. — Shea Scottsdale Plaza, a 12,716-square-foot shopping center in Scottsdale, has sold to SheaScott LLC for $3 million. It is located at 7337 E. Shea. The building was 96.2 percent occupied at the time of closing. Notable tenants include Dickey’s BBQ Pit, Fate Brewing Co., Valencia Salon Studios & Fascinations. SheaScott was represented by Mark Rein of Rein & Grossoehme. The seller, an entity formed by Westwood Financial, was represented by CBRE’s Steve Julius and Jesse Goldsmith.
SAN FRANCISCO – A six-unit apartment building in San Francisco has sold to an unnamed buyer for $2.1 million. It is located at 164 23rd Ave. in the city’s Lake Street District. Sanford G. Skeie and John Antonini of Marcus & Millichap’s San Francisco office represented the seller, a private investor, in this transaction.
SWEETWATER, FLA. — Swedish home furnishings retailer IKEA has purchased a 14.6-acre land parcel fronting Florida’s Turnpike adjacent to the Dolphin Mall in Sweetwater for $31.5 million. The retailer is proposing to build a 417,000-square-foot store that would open as early as fall 2014 atop a two-level parking garage with 1,500 spaces. South Florida’s first IKEA store opened in 2007 in Sunrise, Fla. IKEA stores are also located in Orlando, Fla., and Tampa, Fla. Procacci Development Corp. sold the 14.6-acre Sweetwater land parcel to IKEA.
MIAMI — The 207-unit Park Towers, a multifamily property at 777 N.W. 155th Lane in Miami, has traded for $11.6 million. The 10-story, 198,335-square-foot apartment building sits on 5.86 acres and was built in 1973. Tal Frydman, Daniel Cunningham and Derek Gibbs of Marcus & Millichap’s Fort Lauderdale, Fla., office represented the seller, a Scottsdale, Ariz.-based private firm. A Miami-based private investor purchased the multifamily property.
DURHAM, N.C. — The four-building, 72,944-square-foot Miami North Office Park, located in the Research Triangle Park at the intersection of I-40 and Miami Boulevard in Durham, has sold. The office property was built in 1997 and 1999 on a 6.43-acre site. Ben Kilgore of CBRE/Raleigh represented the unlisted seller. Raleigh, N.C.-based TME Investments purchased Miami North Office Park.
MCLEAN, VA. — Lemont, Ill.-based Englewood Construction’s retail group has completed the nation’s first Spanx store in the Washington, D.C., area. Spanx, a popular women’s undergarment provider, opened its first retail location in the country at Tyson’s Corner Center in McLean, which is the largest shopping mall in Virginia and in the Baltimore and Washington, D.C., area. Spanx founder Sara Blakely was recently named one of the world’s youngest self-made billionaires by Forbes Magazine.
WASHINGTON, D.C. — CBRE has been selected to lease 820 First Street, a 298,533-square-foot Class A office building located across from Union Station in Washington, D.C.’s Union Center Plaza. The 11-story building includes CNN, Accenture, and Center on Budget and Policy Priorities as tenants in D.C.’s Capitol Hill North submarket. Affiliates of Norfolk, Va.-based Harbor Group International LLC purchased 820 First Street in October along with investment partners including affiliates of Capstone Equities and Image Capital. The building was built in 1990 and has approximately 53,552 square feet available for lease.
CHICAGO — Citadel has renewed its long-term lease for 222,416 square feet of office space at Citadel Center, a 1.4 million-square-foot high-rise in Chicago. The financial services company occupies the top six floors of the building. The building also houses J.P. Morgan Chase and three major law firms. Brian Whiting of The Telos Group and Mark Baby of J.F. McKinney & Associates represented the landlord, Dearborn Capital Group, in the transaction. Todd Lippman of CBRE Group represented the tenant.
KANSAS CITY, MO. — Ryan Transportation Group has acquired Glenwood I and Glennwood II, located on Metcalf Avenue in Kansas City. The office buildings, at 119,500 square feet and 151,900 square feet respectively, have been on the market since 2009. The building's major tenant, Embarq Corp. occupied the properties before the company sold and became CenturyLink. According to local reports, Deutsche Bank held a note on the buildings after the previous manager couldn't fill Embarq's vacancy. The seller hired Bob Fagan and Brent Roberts of CBRE Group to market the property. Ryan Transportation plans to occupy most of the space in 2013, following a renovation.
CHICAGO — Walgreens opened its latest flagship store at 1601 N. Milwaukee Ave., in the historic Noel State Bank Building in Chicago. The company preserved much of the building's original architecture and even reused an old bank feature as a “Vitamin Vault.” Leopardo served as the general contractor for the project and Camburas & Theodore Architects provided architectural services. The Noel State Bank Building was constructed in 1919. The original bank fell victim to a run on the bank during the Great Depression. The building has housed several different banks over the decades, the last being Midwest Bank, which closed several years ago. The store will include a cafe and juice bar, a wine selection featuring more than 700 wines and expert eyebrow shaping and grooming services.