LOS ANGELES – Groceries Apparelhas moved and expanded its corporate headquarters and manufacturing facilities to Alameda Square in Downtown Los Angeles. The men’s and women’s apparel manufacturer, distributor and wholesaler has signed a five-year lease with EVOQ Properties. It plansto occupy 33,000 square feet of Building 2 at Alameda Square. The new space will allow the retailer to nearly double its operations.
ARLINGTON, VA. — KBR Building Group’s Vienna, Va., office will construct The Acadia at Metropolitan Park, a mixed-use building in the multi-phase Metropolitan Park development in Arlington. The 19-story, 677,154-square-foot Acadia will include411 residential units, three levels of underground parking with 16,350 square feet of ground-floor retail space. The Acadia will be located adjacent to The Millennium at Metropolitan Park and The Gramercy at Metropolitan, which were both constructed by KBR Building Group. McLean, Va.-based Kettler is developing the project and Dorsky Yue International is the project architect.
WASHINGTON, D.C. — Federal Capital Partners (FCP) has sold the 297-unit Allegro, a high-rise community at 3460 14th St. in Washington, D.C., to Prudential Real Estate Investors on behalf of one of its client funds. The multifamily property was built in 2009 and features studio, one- and two-bedroom units averaging 740 square feet. David Nachison, Alan Davis and Brenden Flood of HFF represented Washington, D.C.-based Federal Capital Partners.
LINTHICUM HEIGHTS, MD. — RockBridge, an integrated hotel investment firm, has closed an $8.6 million first mortgage investment to finance the acquisition of the 137-room Comfort Suites Hotel at Baltimore-Washington International (BWI) Airport in Linthicum Heights. The hospitality property will undergo a $3.4 million renovation and be reintroduced as a Holiday Inn in mid-2013. Renovations will include a reconfigured lobby, refreshed exterior and upgraded guest rooms. The hotel is located two miles from BWI Airport with access to I-195 and Route 295.
DURHAM, N.C. — The Flintkote Corp. has acquired a new McDonald’s ground lease at South Roxboro Street and Martin Luther King Boulevard in Durham for $1.3 million. The 1.69-acre site is subject to a new 20-year lease to McDonald’s USA LLC. A group of private investors sold the site to The Flintkote Corp. Steve Horvath and Jay Levell of Berkeley Capital Advisors represented the seller, and Joe Graham of CBRE/Raleigh represented the buyer.
LEXINGTON AND LOUISVILLE, KY. — NAI Isaac Commercial Properties has been appointed the receiver for the 350,000-square-foot Turfland Mall in Lexington and the 30,000-square-foot Shops at Bashford in Louisville. NAI Isaac will provide management services and stabilize the properties’ operations. The brokerage firm has been a court-appointed receiver on various troubled projects involving assets with a total loan value more than $100 million.
CARMEL, IND. — Kite Realty Group Trust has secured an $18.4 million construction loan for its Rangeline Crossing redevelopment in Carmel. Construction is currently under way on the project, which is approximately 90 percent pre-leased. Earth Fare will anchor the 84,000-square-foot project. Additional tenants will include Walgreens, Old National Bank and Panera Bread. Association Bank financed the two-year loan, which features an option to extend for an additional three years.
CINCINNATI — Net Lease Realty has acquired six acres in Cincinnati for the development of a 14-screen Cinemark — the first of its kind in southern Ohio. The site is situated at the corner of Disney Street and West Lane within Oakley Station, a new mixed-use development that includes office, retail and apartments. Construction is already under way and the theater will open in the fall of 2013. Cinemark Theaters will lease the building. Melissa Ruther and Mike Halonen of Edge Real Estate Group represented the seller, USS Realty LLC, in the transaction. The buyer was self-represented.
MILWAUKEE — First Hospitality Group has opened the new 127-room Hilton Garden Inn Milwaukee Downtown hotel. The hotel is located in the former Loyalty Building, an original headquarters for Northwestern Mutual Life circa 1886. First Hospitality began converting the property in late 2011. The hotel features a fitness and business center and 4,500 square feet of meeting and event space. First Hospitality owns and manages the property. Milwaukee-based Kahler Slater served as the project architect.
LINCOLNWOOD, ILL. — Quantum Real Estate Advisors has arranged the $5.9 million sale of two multi-tenant shopping centers at the corner of Touhy Avenue and McCormick Boulevard in Lincolnwood. Tenants include Verizon Wireless, Five Guys Burgers and Chipotle. Both retail centers are outlots to Lincolnwood Town Center, a shopping mall owned and managed by Simon Property Group. Chad Firsel of Quantum represented the seller, a joint venture between Smith Capital Management and Middleton Partners. He also represented the buyer, an investment group from Chicago.