DARIEN, ILL. — A Walmart store at the Darien Town Centre in Darien will be converted into a Walmart Supercenter store, which will include a full grocery and general merchandise selection. The 43,000-square-foot expansion will begin this fall and include the relocation of some of the existing tenants and the center. The project will also include the demolition of a portion of the center, including the former Circuit City space, to accommodate the expansion. Retail Properties of America owns the 223,694-square-foot Darien Towne Center.
CHICAGO — Summit Design + Build has completed work on City Winery Chicago, a winery, tasting room, restaurant and concert hall at 1200 W. Randolph St. in the West Loop. The 1200 W. Randolph building is a former food distribution warehouse built in the early part of the 20th centruy. The 33,000-square-foot property features three full-service bars, two kitchens, two private meeting rooms and an enclosed paved courtyard for outdoor dining or private parties. The project team also included Christopher Warnick Architecture and Phillip Katz Project Development.
NEW YORK CITY — Rothschild North America, a financial services firm, has renewed its 70,000-square-foot lease at 1251 Avenue of Americas in New York City. Rothschild has been a tenant of the building since 1993 and will remain in the property through 2028. Michael Goldman of Studley represented the tenant. David Falk, Peter Shimkin and Nick Berger of Newmark Grubb Knight Frank represented the landlord, Mitsui Fudosan America Inc.
MOUNT OLIVE, N.J. — Colliers International has arranged the $11.2 million real estate owned (REO) sale of ITC Crossing, a 179,775-square-foot shopping center in Mount Olive. Colliers represented the undisclosed seller and the buyer, Lamar Cos. The center is anchored by a 132,023-square-foot Sam's Club. Additional tenants include Staples and Subway. The property is located approximately 35 miles from Newark, N.J.
DEWEY BEACH, DEL. — Dewey Beach Enterprises (DBE) has resumed construction on phase one of its Ruddertowne redevelopment project, following years of legal battles. According to local reports, several property owners took issue with the height of some of the proposed buildings and the approval process Dewey Beach undertook in granting permits for the project. A Chancery Court ruled in favor of the developer in August. DBE is constructing a Hyatt Place Hotel and luxury condominiums, known as The Residences of Ruddertowne. The first phase of the project is expected to be complete prior to the 2013 summer season.
BARRINGTON, R.I. — New England Construction has started renovation on the Bayside YMCA in Barrington, as well as the addition of a new 24,430-square-foot Aquatics Center. New England will renovate 36,000 square feet of existing space for the Greater Providence YMCA. The Aquatics Center will feature a six-lane, in-ground pool, as well as a shallow swimming pool for families. The project will also include a new front desk area, locker rooms and upgrades to the gym. Vision 3 Architects designed the project.
AUSTIN — American Campus Communities (ACC) has acquired The Block, a six-community off-campus student housing property consisting of 1,555 beds, located in the West Campus submarket. The property serves students attending The University of Texas at Austin. The Block was built in 2007-2008 and is currently 97 percent occupied. Each of the six communities that comprise The Block offers a parking garage, rooftop lounge, fitness center and a variety of floor plans. There is also a centralized community center featuring a game room, business center and pool with sun deck.
HOUSTON — The McShane Development Co./MetLife Real Estate Investments industrial development alliance has sold the 253,838-square-foot Guhn Road Distribution Center, located at 6535 Guhn Road in Houston. The facility is fully leased to Forum Energy Technologies. Rusty Tamlyn and Trent Agnew of HFF, along with Justin Robinson and Kyle Valentine of Stream Realty Partners, represented the seller in the transaction. The buyer is a commingled fund advised by Clarion Partners.
IRVING — Walker & Dunlop has arranged $9 million in acquisition financing for the 320-unit Glen Arbor Apartments, located in Irving. The garden-style apartment community is currently 95 percent occupied and features a clubhouse, fitness center, two swimming pools and three laundry facilities. Alex Inman of Walker & Dunlop arranged the 10-year loan with a 30-year amortization schedule through Fannie Mae's Early Rate Lock Program.
FORT WORTH — Marcus & Millichap Capital Corp. (MMCC) has arranged a $7.8 million loan for a 316-unit multifamily property in Fort Worth. The community is currently 94 percent occupied. Brian Adams of MMCC's Dallas office arranged the acquisition financing on a 10-year term with a 30-year amortization schedule.