SCOTTSDALE, ARIZ. – East Thunderbird Square South, a 161,997-square-foot, grocery-anchored shopping center in Scottsdale, has sold to Holualoa Companies for $20.55 million. The square was 64 percent leased at the time of sale. Notable tenants include Smart & Final, AZ Air Time, Bridgestone Tires, Leslie’s Poolmart and Steinway Piano Showroom. The three outparcels that house M&I Bank, Burger King and Taco Bell were not part of the sale. Glenn Smigiel, Bob Young, Steven Brabant, Rick Abraham, Nancy Romanovsky, Kevin Schuck and Max Bippus of CBRE’s Phoenix office represented the seller, Gregg Williams of Trident Pacific Real Estate, the court-appointed receiver for the asset, in this transaction.
PHOENIX – TeleTech Holdings has leased 25,678 square feet in the Black Canyon Corporate Center in Phoenix. The five-year lease will allow TeleTech to double in size. It operates a call center for its subsidiary company, Revana, out of the space. John Bonnelland Don Muddof Jones Lang LaSalle’s Phoenix office represented the owner, Parallel Capital Partners, in this transaction.
NASHVILLE, TENN. — Pollack Shores Real Estate Group has sold the 220-unit Velocity in the Gulch, a multifamily property located at 320 11th Ave. S. in Nashville, for $37.5 million. Amenities include a sky lounge with outdoor cabanas, gym and controlled access parking garage. Walton Street Capital was the buyer. The seller had previously converted the property from condominium units to for-rent apartments. The sale did not include the 43 condo units or the ground-level retail.
ASHLAND, VA. — CapLease has entered into a build-to-suit agreement to construct a $20 million, 311,730-square-foot distribution warehouse, located in Ashland, on behalf of Vitamin Shoppe Industries. The company has entered into a 15-year net lease that will commence upon completion of construction, which is slated for the second quarter of 2013.
SHOALS, ALA. — Firestone Building Products plans to add 150,000 square feet to its manufacturing plant, located at 393 Denton Circle in Shoals. The facility manufactures thermoplastic polyolefin (TPO) single-ply roofing membranes. Groundbreaking is scheduled for the second week in September, with completion slated for the second quarter of 2013. The investment will create approximately 40 permanent jobs once the plant is fully functional in July 2015.
PARKLAND, FLA. — Bell Partners has acquired the 396-unit Winners Circle Apartments, a multifamily property located at 5851 Holmberg Road in Parkland. Amenities include two swimming pools, a clubhouse with a fitness center and tennis courts. The buyer plans to rename the property Bell Parkland.
ROCKVILLE, MD. — Washington Real Estate Investment Trust has sold a 101,000-square-foot office building, located at 1700 Research Blvd. in Rockville, for $14.25 million. The buyer was a partnership that includes a long-time tenant of the property. The four-story building is Energy Star Certified.
COLUMBUS, IND. — Browning plans to construct a 468,000-square-foot manufacturing and assembly facility for The Phoenix Group in the Woodside Northwest Park in Columbus. The Phoenix Group is a supply chain management company with a client base that includes NTN Driveshaft and Alpine Electronics of America. The $15 million will be located on International Drive with direct access to I-65. The project is expected to break ground in October with completion scheduled for August 2013.
CHICAGO — Marcus & Millichap has arranged the $4 million sale of three apartment buildings in Chicago. The assets were located at 4709 W. Belmont Ave., 4844 West Henderson St. and 4539 W. Wellington Ave. The buildings feature 62 units and four street-level retail spaces. Joe Smazal and James Clough of Marcus & Millichap represented the seller, a local private investor. James Ziegler of Marcus & Millichap represented the buyer, a limited liability company.
CHICAGO — Retailers Salvatore Ferragamo and Ermenegildo Zegna have expanded and renewed leases at 645 N. Michigan Ave. in Chicago. Salvatore Ferragamo, which sells luxury handbags, shoes and small leather goods, renewed its ground-level lease for 2,700 square feet and expanded to the second floor, taking 3,300 square feet. Italian men's wear giant Ermenegildo Zegna renewed its ground-level lease for 2,400 square feet and also expanded to the second floor, taking 2,900 square feet. 645 North Michigan LLC and Nakash 645 North Michigan LLC own the property, which is managed by The Feil Organization. Robert Gibson of Cushman & Wakefield represented Salvatore Ferragamo in the transaction. Joan Siegel of Siegel Consultants represented Ermenegildo Zegna. The Feil Organization was represented in-house by Brian Feil and Ken Hanson.