ARLINGTON — Digg's Taco Shop and Smiling Moose Deli have leased space at the College Park development on The University of Texas at Arlington's campus. The new eateries will be the second location for both restaurants in the Dallas/Fort Worth Metroplex. Other tenants at College Park include MAVS Sports Grill, Pho Xpress, Pie Five Pizza Co., GRIP Mediterranean Grill and Coolberry Frozen Yogurt. Digg's Taco Shop has leased 2,906 square feet and Smiling Moose Deli has leased 2,120 square feet. Frank Bullock and Jack Burgher of SRS Real Estate Partners represented the owner in both lease transactions. Cory McCord of Retail Plazas represented Digg's and Jennifer Frank of Princeton Partners represented Smiling Moose Deli.
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ANAHEIM, CALIF. — Arcturus Group, Avenue Capital and Elliott Management have purchased Anaheim GardenWalk, a 450,000-square-foot, open-air retail center, for an undisclosed sum. The center was built in 2008 and went through a foreclosure in 2010. It has achieved only a 50 percent occupancy rate over the past two years. Notable tenants include UltraLuxe Cinemas, The Cheesecake Factory, P.F. Chang's, California Pizza Kitchen, McCormick & Schmick's, Roy's Hawaiian Fusion and Bubba Gump Shrimp Co. The investor group plans to renovate the center and completely revamp its operations and marketing strategies.
MARINA DEL REY, CALIF. – The 205-unit Bay Club apartments in Marina Del Rey has sold to an Archstone-sponsored partnership for $43.95 million. The community, which is also home to an on-site marina with more than 200 boat slips, will undergo a major renovation and rebranding in 2013. It will be renamed Archstone Marina Bay.
AURORA, COLO. – The 320-unit Vistas at Saddle Rock apartment community in Aurora has sold to Advenir for $45.2 million. This is the highest price per unit ever paid for a multifamily asset in Aurora, according to ARA, which represented the seller, Bascom Group, in this transaction. The community was built in 2002 and updated in 2009 and 2010. It is currently 95 percent leased. Bascom was represented by principals Terrance Hunt, Shane Ozment, Doug Andrews and Jeff Hawks.
LOS ANGELES — Kilroy Realty Corporation (KRC)has purchased Columbia Square, a historic Hollywood media campus, and Tribeca West, a West Los Angeles entertainment-oriented office property, for a total of $138 million. Columbia Square sold for $65 million, while the acquisition of Tribeca West is expected to close early in the fourth quarter for $73 million. Tribeca West is a 151,000-square-foot, three-story office campus that is currently 96 percent leased.The Columbia Square acquisition included a 96,000-square-foot campus that contained three historic office buildings. It was the former home of the CBS network’s Los Angeles radio and television operations. The 4.7-acre site is fully entitled for an office, retail and multifamily mixed-use project under a 15-year development agreement. KRC is planning a multi-phase redevelopment and development that would upgrade its existing office buildings and add 550,000 square feet of office, retail and residential space to the campus. The $300-million project is scheduled to begin in mid-2013. Phase I is expected to be complete in 2015.
PHOENIX, AVONDALE, MESA, ARIZ. — The Bascom Group has purchased three apartment complexes in Arizona for $77.1 million. The acquisition includes 301-unit Coldwater Springs Apartments at 12115 W. Van Buren Ave. in Avondale for $27.2 million; 256-unit Madera Point at 445 S. Dobson Road in Mesa for $14.3 million; and the 528-unit Foothills at 4424 E. Baseline Road in Phoenix for $35.5 million. Bascom was represented in these transactions by Jim Crews, Brett Polachek and Tara Lewis of Cushman & Wakefield of Arizona.
MESA, ARIZ. — Village Square at Dana Park, a 310,979-square-foot community center in Mesa, has sold to Whitestone REIT for $50.5 million. This represents a 45 percent discount to estimated replacement cost. The center contains 292,714 square feet of open-air retail space, as well as 18,265 square feet of office space. It is currently 71 percent leased. Notable retail tenants include AJ’s Fine Foods, Barnes & Noble, Z Gallerie, Anthropologie, Coldwater Creek, Jared Galleria of Jewelers, Chico’s, California Pizza Kitchen, White House Black Market, Bath & Body Works, Talbots, Ann Taylor Loft, Five Guys Burgers and Fries, RA Sushi, Sauce and Pei Wei.
KEARNY MESA, CALIF. – CP Kelco has signed a five-year lease renewal for a 27,605-square-foot office and R&D building in Kearny Mesa. The lease renewal is valued at $2.2 million. The space is located at 8225 Aero Drive. CP Kelco, which has occupied the building for 10 years, uses the space for manufacturing, customer service, sales and technical support. The space is owned by Westcore Properties. Neither party retained broker representation.
RICHMOND, VA. – The 338-unit Bramblewood Estates, an apartment community located in the Southside market of Richmond near Chippenham Parkway and Janke Road, has been sold to BH Equities, LLC, a national real estate investment firm. Mike Marshall, Drew White and Ryan Ogden of ARA Mid-Atlantic as well as Wink Ewing in the company's Richmond office represented the seller, Bramblewood Estates Associates LP, an affiliate of Beacon Communities LLC. BH Equities has acquired four properties in the Richmond market during the past 14 months. Bramblewood Estates was built in 1976.
OAKLAND AND WINTER GARDEN, FLA. – Charlotte, N.C.-based Crescent Resources, LLC has acquired the 258-acre Oakland Park residential community between the Town of Oakland and City of Winter Garden from its original developer, Castle & Cooke. Oakland Park is a certified green development by the Florida Green Building Coalition (FGBC). Castle & Cooke has developed 137 of the planned 900 homesites. Crescent Resources is the developer of a combined 240 acres of office parks as well as The Crescent at Primera and New Century Park in Lake Mary, Fla.