SAN DIEGO — All In The Family II, L.P. has leased 6,598 square feet in Carmel Mountain Plaza in San Diego where it plans to open a Broken Yolk Café. It will occupy a former Chevy’s Mexican restaurant space. The 10-year lease is valued at $2,744,868. The center is located at 11630 Carmel Mountain Road. All In The Family was represented by Mike Spilky of Location Matters. The landlord, the Mashburn Family Limited Partnership, was represented by Steve Avoyer and Matt Peckham of Flocke & Avoyer Commercial Real Estate.
Property Type
ARLINGTON, VA. — New York-based Savanna has completed the sale of a senior interest in a $157.7 million note secured by three office buildings, located in the Rosslyn section of Arlington. The first two buildings, located at 1000-1100 Wilson Blvd., are interconnected high-rise office towers totaling 1.1 million square feet. The third building, located at 1101 Wilson Blvd., is a 326,000-square-foot high-rise office property. The senior note was sold to Apollo Global Real Estate in the transaction, with Savanna retaining the $76.7 million junior note. The three buildings are part of a 10-building portfolio owned by a joint venture between Monday Properties and Goldman Sachs.
BOSSIER CITY, LA. — Rouse Properties has commenced a multi-million dollar renovation of the more than 600,000-square-foot Pierre Bossier Mall, located at 2950 E. Texas St. in Bossier. The renovation will include a new porcelain tile floor throughout the common areas and food court, as well as new paint for all walls, columns and ceilings. Rouse will also add soft seating areas with new furniture and carpeting in key gathering areas, upgraded mall entrances and upgrading of the center’s pylon and exterior directional signage. Dillard’s, JC Penney and Sears anchor the center, which is home to more than 70 specialty stores including American Eagle Outfitters, Bath & Body Works, Victoria’s Secret and Buckle. Rouse expects to complete renovations in time for the 2012 holiday season.
ROANOKE, VA. — The 78,000-square-foot Crystal Tower, located on the corner of Campbell Avenue and Second Street in Roanoke, has been sold to Crystal Tower LLC for $1.3 million. Built in 1931, Crystal Tower was originally opened as the 183-room Ponce de Leon Hotel and was converted into offices in 1970. The buyer plans to spend $10 million to convert the building to a 70-unit apartment complex with retail space on the first floor. Michael Waldgovel and Krista Vannoy of Waldgovel Commericial Properties represented the seller, Crystal Tower Building Corp., in the transaction.
GREENBELT, MD. — Diversified Realty Ventures has purchased the 120,000-square-foot Greentec IV office building, located at 7700 Hubble Drive in Greenbelt, for $6.35 million. The property is fully leased to government contractors and employees working on the Joint Polar Satellite System. Robert Finney of Transwestern represented the seller, C-III Asset Management, in the transaction.
ST. PETERSBURG, FLA. — Franklin Street Real Estate Services has arranged the $2.77 million sale of the 176-unit Woodlawn Park, a distressed apartment complex located at 1626 18th Ave. N. in St. Petersburg. The buyer, a local private investor, is planning a major renovation to the property. Darron Kattan, Robert Goldfinger and Kevin Kelleher of Franklin Street represented both parties in the bankruptcy auction sale.
MINNEAPOLIS — Hyatt Regency Minneapolis has completed a $25 million renovation of the hotel's guest rooms, public areas and restaurants. A joint venture between affiliates Starwood Capital Group, Haberhill and Hyatt Hotels funded and conducted the renovations. Construction included the new Prairie Kitchen & Bar, a 5,500-square-foot restaurant specializing in locally grown and seasonal food. The project also included adding new furniture to the guest rooms, including leather chairs and walnut desks, and remodeling the bathrooms. New York-based Stonehill & Taylor was responsible for the architecture and interior design.
MARION, OHIO – The 426,905-square-foot Marion Towne Centre was sold to a private investment group for an undisclosed amount. Ben Wineman of Mid-America Real Estate and Select Strategies Realty’s Mike Paolucci and Hunter Whitten represented the seller, a lender, in the transaction. The buyer was self-represented. The single-story, enclosed regional mall is located 50 miles north of Columbus.
ELMHURST, ILL. – Nth Degree has inked a lease renewal for 3,696 square feet of flex space at the Elmhurst Metro Court in Elmhurst. Elmhurst Metro Court is a seven-building office/industrial campus. Carrie Wagener represented the landlord, Denholtz Associates, in the transaction. Nth Degree, a global marketing company, has 21 North American offices.
COLUMBUS, OHIO — NuGrowth Solutions has signed a lease for 16,930 square feet of office space at Arlingate Plaza, located at 4181 Arlingate Plaza in Columbus. Doug Falor of Cassidy Turley represented the landlord, Time Equities, in the transaction.