HICKORY, N.C. — Beachwood, Ohio-based Chase Properties Ltd., an owner and operator of community shopping centers, has acquired the 144,000-square-foot Valley Corners from Collett & Associates. The shopping center is located directly on Highway 70 in Hickory and is anchored by Michaels, Ross Dress For Less, Ashley Furniture and PETCO. Other tenants include Rack Room Shoes, Dressbarn, Cato, McDonald’s, Olive Garden and Chili’s. David Webb of Berkeley Capital Advisors brokered the transaction.
WASHINGTON, D.C. — Chevy Chase, Md.-based Federal Capital Partners (FCP) has sold the 297-unit Allegro Apartments, located in Washington, D.C.’s Columbia Heights neighborhood, to an institutional buyer. The mixed-use property includes a 247-space underground parking garage and more than 6,000 square feet of retail space. Dave Nachison and Alan Davis of HFF represented FCP.
WAUKESHA, WIS. — Four retailers, T.J. Maxx, Ulta Salon and Cosmetics, Rue 21 and Charming Charlie's, will open new locations at the Shoppes at Fox River development in Waukesha by Oct. 28. Opus broke ground on the first development of Phase II of the Shoppes at Fox River in April. The development, which will house the new retailers, includes 47,000 square feet of retail space on six acres. The first phase of the shopping center opened in 2009 and is fully occupied. Tenants include a 132,000-square-foot Target and a 60,000-square-foot Pick 'n Save.
OVERLAND PARK, KAN. — Block & Co. has been selected as the leasing agent for the 1.1 million-square-foot Corbin Park retail center at the intersection of 135th Street and Metcalf Avenue in Overland Park. The center is anchored by Von Maur, JC Penney and Lifetime Fitness. Big box, junior box and small shop space is available for lease, as well as pad sites surrounding the center. David Block, Greg Roberts, Max Kosoglad and Phil Peck of Block & Co. make up the leasing team assigned to Corbin Park.
NAPERVILLE, ILL. — Peace Hospice has signed a lease for 4,391 square feet of office space in Naperville. The office is part of a 59,898-square-foot building at 1717 N. Naper Blvd. The property is now 86 percent leased. The building features conference rooms, a tenant lounge, vending area, adjacent hotel and direct access to I-88. Brian Edgerton of NAI Hiffman represented the landlord, Butterfield Properties, in the transaction.
FORT WAYNE, IND. — Hays & Sons Construction has signed a lease for 3,116 square feet of industrial space at 3819 Superior Ridge Drive in Fort Wayne. John Caffray of NAI Harding Dahm represented the landlord, F&J Enterprises, in the transaction.
FORT LEE, N.Y. — SJP Properties has broken ground on two 47-story apartment towers in Fort Lee, decades after the site near George Washington Bridge was first cleared for development. SJP is working in partnership with Prudential Real Estate Investors and Northwestern Mutual Life Insurance Co. on the $500 million project. The redevelopment, known as The Modern, will feature 900 luxury apartments and a public park with a 7,000-square-foot restaurant. SJP will also develop a 13,000-square-foot building to be donated to the Borough of Fort Lee, which will house a theater and museum. The buildings will be located at 100 and 800 Park Ave. and residents should be able to move in during the summer of 2014. PNC Bank and Wells Fargo are providing the construction financing.
MANHASSET, N.Y. — Nordstrom plans to open a new 32,000-square-foot Nordstorm Rack at Manhasset Center, which is owned and operated by Kimco Realty Corp. The store will be the retailer's third Nordstrom Rack location in Long Island and is scheduled to open in fall 2013. Nordstrom Rack is the off-price retail division of Nordstrom Inc. and carries merchandise from Nordstrom stores at 50 to 60 percent off original Nordstrom prices. The new two-level store will be located in the former Filene's Basement at Manhasset Center.
EAST RUTHERFORD, N.J. — Meridian Capital Group has arranged a $9 million mortgage loan for Station Square Apartments, an 84-unit apartment complex on Van Winkle Street in East Rutherford. Steven Tessler of Meridian arranged the five-year loan at an interest rate of 3.5 percent.
NEW YORK CITY — Ariel Property Advisors has arranged the $2.9 million sale of an apartment building at 505 W. 161st St. in Washington Heights. The 21,732-square-foot property features 30 units. Michael Tortorici, Victor Sozio, Jesse Deutch and Daniel Tropp of Ariel Property Advisors represented the the seller, an institutional investor, in the transaction. They also represented the buyer, a private investment group.