PORTLAND, ORE. – New Relic has leased 19,482 square feet at the US Bancorp Tower in Portland. The new space will allow the company to expand and relocate from the nearby Commonwealth Building this November. New Relic will initially house a 45-person engineering team at the new facility, but eventually plans to grow its presence to about 200 employees. The tenant was represented by Jake Lancaster of Jones Lang LaSalle’s Portland office. The landlord, Unico Properties, was represented by Joe Vaughn, also of JLL.
THOUSAND OAKS, CALIF. – The Village Trader Market and Deli will open at The Village at Dos Vientos Ranch, a retail and office complex in Thousand Oaks, on Aug. 9. The 6,400 square-foot retailer will be the first grocery store in the Dos Vientos Ranch master-planned community. The complex is owned by Paradise Capital Group.
PEMBROKE PINES, FLA. — The 296-unit Lakes at Pembroke, located at 9900 Sheridan St. in Pembroke Pines, has sold for $42 million. The property is 96 percent leased. Amenities include two swimming pools, sport courts, a playground, covered parking and a fitness center. Marc deBaptiste, Avery Klann and Hampton Beebe represented LaSalle Investment Management, the seller, in the transaction. The buyer was Atlanta-based Stockbridge Capital.
LAKE MARY, FLA. — CBRE Group has arranged the $39.6 million sale of the 600-unit Sun Lake, a multifamily community located at 420 Sun Lake Circle in Lake Mary. Amenities include a private lake, 24-hour fitness center, two swimming pools and a clubhouse with a wide-screen TV and movie viewing area. Shelton Granade and Luke Wickham of CBRE Group represented the seller in the transaction. The buyer assumed an existing loan and will finish stabilizing the property, which was largely vacated during a construction project on site.
CHARLOTTE, N.C. — The 296-unit Lake Point Apartments, a multifamily community located at 7259 Point Lake Drive in Charlotte, has sold for $4.3 million. Atlanta Capital Advisors, the buyer, plans to invest $4.5 million to renovate the community. Mike Fowler and Jim Davis of Brown Investment Properties represented the seller in the transaction.
FRANKLIN, TENN. — Beauty Basics has acquired a 16,900-square-foot former car dealership, located adjacent to Cools Springs Galleria in Franklin, for $2.2 million. The buyer plans to utilize the property as a cosmetology school. Brian Forrester of The Shopping Center Group represented the seller, Nashville, Tenn.-based Richland South, in the transaction. Lynn Barrington of Christian Commercial represented the seller.
FAYETTEVILLE, N.C. — NorthMarq Capital has arranged $12 million in first mortgage refinancing for the 694-unit Cambridge Arms Apartments, a market-rate multifamily community located at 301 Barcelona Drive in Fayetteville. Bill Matone of NorthMarq's Charlotte, N.C., office arranged the 10-year loan with a 30-year amortization schedule on behalf of the borrower, SRC Cambridge Arms, through Freddie Mac.
SIOUX CITY, IOWA — St. Luke's Health System has broken ground on its Sunnybrook area medical campus in Sioux City. Set to open in 2013, the 86,313-square-foot Sunybrook Medical Plaza will serve as a regional hub for healthcare delivery in the tri-state area. Services will include family practice, urgent care, imaging, cardiology and other specialty clinics. The two-story facility will be situated on 16 acres. The project team includes Irgens as development manager; Eppstein Uhen and Cannon Moss Brygger & Associates as architects; and W.A. Klinger as general contractor.
CHICAGO RIDGE, ILL. — Chicago Ridge Mall is set to debut its newly renovated AMC Lowes 6 Theater Aug. 9 and has announced several new tenants that will join the 833,000-square-foot shopping center in Chicago Ridge. Upgrades to the theater include a new lobby, ticket kiosks, concession area and new leather seats. CBL & Associates, which owns and manages the property, has also signed four new tenants to the shopping center: Crazy 8, Old Navy, Kids Foot Locker and Wetzel's Pretzels.
BLOOMINGTON, MINN. — TRIA Orthopaedic Center has signed a lease for 32,400 square feet of space at 3800 American Blvd. West in Bloomington. The building is located next to TRIA's 100,000-square-foot main facility at 8100 Northland Drive. TRIA, the official service provider for professional Minnesota sports teams for more than 25 years, plans to use the new space for the company's administrative, training and physical therapy functions. Gordie Hampson and Jason Butterfield of Cushman & Wakefield/NorthMarq represented the building owner, Metropolitan Life, in the transaction. Dean Williamson of Frauenshuh Commercial Real Estate Group represented TRIA.