NORTH BERGEN, N.J. — Aaron's, a computer furniture, computer and electronics retailer, has signed a 5,000-square-foot lease at a former car dealership in North Bergen, which was converted to retail use. The property is located at 2229 Kennedy Blvd. Gary Sauerborn of NAI Hanson represented the landlords, JGP Properties and NGB Properties, in the transaction.
RIO GRANDE CITY — The Rio Grande City Consolidated School District has signed Skanska USA to a $52 million construction contract for a 351,979-square-foot replacement high school on the northeast side of Rio Grande City. The new school will include administrative offices, a cafeteria, fine arts facilities, classrooms, career/technology center and a gymnasium. Skanska USA will break ground this month on the school, which is slated for a May 2014 completion.
AUSTIN — Charlotte, N.C.-based Crescent Resources has sold the 476-bed, fully occupied Circle West Campus in Austin for $46.8 million. The student housing community is located at the intersection of West 25th and Longview streets near the University of Texas. The community features a resort-style pool, tanning beds, covered parking, a community grilling area and a lounge.
SAN ANTONIO — Dallas-based MedProperties Capital Partners will expand its 45,733-square-foot South Texas Spine & Surgical Hospital, located at 18600 Hardy Oak Blvd. in San Antonio, by 8,690 square feet, a nearly 20 percent gain. The expansion includes nine new private patient rooms, a storage room, two critical care rooms and two observation rooms. Also, a new general storage room and an expanded nurses station will be added. Chicago-based National Surgical Hospitals handles operations for the property. Siemens Financial Services is providing construction financing for the project.
DALLAS — Harvey Energy has purchased a 10,000-square-foot office building, located at 1875 Laws St. in downtown Dallas. The property will serve as Harvey Energy's new corporate headquarters. Jayson Montoya of NAI Robert Lynn arranged the off-market transaction.
HOUSTON — Marcus & Millichap has brokered the sale of the 25-unit Westmoreland Apartments, located at 3619 Garrott St. in Houston. Sheri Carey of Marcus & Millichap's Houston office represented the seller, a partnership, and the buyer, a limited liability company, in the transaction. The apartment complex's list price was $1.2 million.
TORRANCE, CALIF. – A 9,546-square-foot building in Torrance that is triple-net leased to AutoZone has sold to a private investor for $2.4 million. It is located at 1433 W. Carson Street. AutoZone recently renewed its lease at the property for an additional 10 years. Phil Voorhees, John Read, Patrick Toomey and Megan Read of CBRE’s National Retail Investment Group-West represented the seller in this transaction.
DENVER – A 7,500-square-foot office space located at 1390 Lawrence Street in Denver has sold to Gates Family Foundation for $2.3 million. The space is situated within a 31,912-square-foot building. The seller, Hover Building Partners, LLC, was represented by Tim Finholm and Sam Leger of Unique Properties, LLC – TCN Worldwide.
PHOENIX – O’Reilly Auto Parts has signed a 10-year lease for 12,327-square-feet at Madison Square in Phoenix. The square is located at 5343 N. 16th Street. O’Reilly was represented by Bill Blake and Colton Trauter of Lee & Associates. The landlord, Orsett Properties, was represented by Sean Spellman of Cassidy Turley.
HOLLYWOOD, CALIF. — Millennium Hollywood, a 4.47-acre, mixed-use development, will soon occupy premier space near the intersection of Hollywood and Vine in downtown Hollywood. The transit-oriented, pedestrian-friendly development will include 492 residential units; 200 luxury hotel rooms; 34,000 square feet of restaurant space; 35,100 square feet of sports club use; 15,000 square feet of commercial retail space; and 215,000 square feet of Class A office space that includes the existing Capitol Records Building and the Gogerty Building. The new development, which is estimated to contain 1 million square feet of new uses, will also feature an abundance of open space, as well as street-level plazas. The project is being developed by Millennium Partners and Argent Ventures.The two new buildings will be designed by Handel Architects. Roschen Van Cleve Architects will oversee the preservation efforts of the Capitol Records Building and the Gogerty Building.