ONTARIO, CALIF. – Cardenas Markets has signed a 10-year lease for 263,000 square feet in Ontario. The space is located at 2501 East Guasti Road. It is within a 420,000-square-foot, multi-tenant industrial building. The new lease will allow Cardenas to expand its headquarters and distribution operations, which currently resides in a 420,000-square-foot space in Ontario. The landlord, MK Associates LTD, was represented by Joe Miller of Voit Real Estate Services. Miller worked with Mike Leifer of Palmieri, Tyler, Wiener, Wilhelm & Waldron on land-use issues, as well as with Ruben Goodsell, Peter McWilliams and Michael McCrary of Jones Lang LaSalle on the marketing assignment.
Property Type
LAS VEGAS – Robert Graham has signed a lease to open a branded retail store at the Fashion Show Mall in Las Vegas. The store will offer the full Robert Graham collection. The Robert Graham store is set to open in spring 2013.
WASHINGTON, D.C. — Greenebaum & Rose Associates has sold an 11-story, 298,533-square-foot building at 820 First St. in Washington, D.C., to an affiliate of Harbor Group International for $107 million. The Class A office property is 100 percent leased and is situated within Union Center Plaza adjacent to Union Station. It is leased to a variety of tenants, including CNN, Accenture and the U.S. General Services Administration (GSA). Bill Collins, Paul Collins, Drew Flood, Jud Ryan and James Cassidy of Cassidy Turley represented Greenebaum & Rose Associates in the transaction.
SAVANNAH, GA. — The 185,244-square-foot Abercorn Common, a community shopping center located adjacent to Oglethorpe Mall in Savannah, has traded through Auction.com. It is 96 percent leased to tenants including HomeGoods, Michaels, Office Depot, Party City, ULTA, Ashley Furniture, McDonald’s, Firehouse Subs and Panera Bread. A special purpose entity controlled by LNR Partners LLC served as special servicer and the buyer was a private investor from Savannah. Mark Gilbert, Adam Feinstein and Gary Saykaly of Cushman & Wakefield Retail Investment Advisors acted on behalf of the seller.
LOUISVILLE, KY. — Berkeley Point Capital LLC has facilitated a $28.1 million loan insured by the Federal Housing Administration (FHA) for the construction of Claibourne Crossing, a 242-unit garden-style apartment community that will be located near the Lake Forest residential development and golf course in Louisville. The multifamily property will feature one-, two- and three-bedroom units in 19 two- and three-story buildings. Amenities will include a clubhouse, fitness center, business center, conference room, game room, playground and pool. TDK Construction is designing and developing Claibourne Crossing.
ATLANTA — Mailing Avenue Stageworks, an 85,000-square-foot film and television production facility, has opened on a five-acre site close to historic Grant Park in Atlanta. An investment group led by Paul Raulet, John Raulet and Tyler Edgarton acquired a former industrial building at 1144 Mailing Ave. for the film and television production facility. The stage features 31-foot ceiling heights and an 80-by-120-foot filming area. “Georgia’s attractive incentive program, as well as talented workforce, a variety of locations and accessibility give it a competitive edge over other states,” says Lee Thomas, director of the Georgia Film, Music & Digital Entertainment Office. “As a result, we continue to experience a wealth of productions choosing Georgia for their projects.” Mailing Avenue Stageworks will be available for lease in January 2013.
CHARLOTTE, N.C. — Consumer Programs Inc., a wholly owned subsidiary of portrait studio operator CPI Corp., has sold a 59,492-square-foot warehouse and office building and two land parcels in Charlotte to Worldwide Ventures Inc. for $1.6 million. The property is located at 11001 Park Charlotte Blvd. Warren Snowdon and David Hanna of Cushman & Wakefield/Thalhimer represented Consumer Programs, and Lawrence Shaw of Colliers International represented Worldwide Ventures.
BROOK PARK, OHIO — Philips Edison — ARC Shopping Center REIT has acquired Brook Park Plaza, a 157,459-square-foot shopping center in Brook Park, a suburb of Cleveland, for $10 million. The center is 87 percent occupied and anchored by an 82,000-square-foot Giant Eagle grocery store, which has a fuel station.
REYNOLDSBURG, OHIO — National Net Lease Realty has arranged the $4.8 million sale of a net-leased Walgreens property in Reynoldsburg. The 15,120-square-foot store was built in 2000 and is situated on 1.9 acres. Walgreens has eight years remaining on its lease, with an additional eight, five-year options to renew at the same rental rate. Terry Marks of National Net Lease Realty represented the buyer, Reynoldsburg WAG LLC, in the transaction. Transwestern Real Estate represented the seller, Reynoldsburg-W Investment LLC.
KANSAS CITY, MO. — Love Funding has arranged a $20 million loan to rehabilitate a historic building in downtown Kansas City, which will be converted into a 130-unit apartment building. Holly Bray of Love Funding secured the financing through the U.S. Department of Housing and Urban Development's 221(d)(4) loan insurance program. The borrower is Landwhite Developers LLC. The property is located at 323 W. 8th St. and was built in 1910 by the Burnham Munger-Root Dry Goods Co. The eight-story building was used to make a range of rubber products for decades, before it was renovated into office space in 1980.