Property Type

PETER PIPER PIZZA EXPANDS INTO HOUSTON AREA

by admin February 29, 2012

WALLISVILLE — Peter Piper Pizza has broken ground on a 12,000-square-foot restaurant, located at 6223 E. Sam Houston Parkway N. on Beltway 8 at Wallisville Road in Wallisville. The property is the first of 25 Peter Piper Pizza locations to be built in the Houston market during the next 8 years. The new restaurant is slated to open this summer, and there are properties under contract in Del Rio, Victoria, Corpus Christi, New Braunfels and Waco. Each new restaurant represents an investment of more than $3.5 million.

February 29, 2012

INDUSTRIAL FACILITY'S $1.2M CONSTRUCTION UNDER WAY

by admin February 29, 2012

GAINESVILLE — The $1.2 million construction of a 21,200-square-foot manufacturing facility, located at 3601 N. Interstate 35 in Gainesville, has started. Gainesville-based IFS Coatings will occupy the property upon completion. The facility broke ground in December 2011 and is slated for a May 2012 completion. Fort Worth-based Speed Fab-Crete is the general contractor and Fort Worth-based Callahan & Freeman Architects is serving as the project architect.

February 29, 2012

Industrial Texas

JV SIGNS TENANT TO 247,240 SF LEASE

by admin February 29, 2012

LAPORTE — Port Crossing Commerce Center, a joint venture between National Property Holdings and ML Realty Partners, has signed Gulf Winds International to a 247,240-square-foot lease, located at 1842 S. 16th St. in LaPorte. The 300-acre logistics industrial park is rail-served and located between the Barbours Cut and Bayport terminals. Michael Taetz, Gary Mabray and Jason Dillee of Colliers International's Houston office represented the landlord in the lease transaction. Aron Grenader of Houston-based First Houston Properties represented the tenant.

February 29, 2012

Multifamily Southeast

ARA ARRANGES $45M MULTIFAMILY SALE

by admin February 28, 2012

RALEIGH, N.C. — ARA has brokered the $45 million sale of the 350-unit Highlands at Brier Creek, located at 10200 Crichton St. in Raleigh. The property is 94 percent leased. Blake Oakland, Dean Smith and Sean Wood of ARA's Charlotte, N.C., office represented Boca Raton, Fla.-based The Altman Cos., the seller, in the transaction. The buyer was Birmingham, Ala.-based Colonial Properties Trust, which has renamed the property Colonial Grand at Brier Falls.

February 28, 2012

Retail Southeast

HALPERN STARTS $15M EXPANSION

by admin February 28, 2012

CARROLLTON, GA. — Atlanta-based Halpern Enterprises has commenced a $15 million expansion at the 297,300-square-foot Carrollton Crossroads, located at the intersections of South Park Street and Highway 166 in Carrollton. The 65,000-square-foot renovation and expansion of Kroger will include areas selling jewelry and home goods, along with a Starbucks location. In addition, the company will break ground in March on an Olive Garden on one of the center's outparcels. The center is 98 percent leased. Kroger is slated for completion in June 2013, and Olive Garden is scheduled to open in July.

February 28, 2012

Retail Southeast

JV BUYS TWO N.C. SHOPPING CENTERS FOR $11.6M

by admin February 28, 2012

FAYETTEVILLE AND SANFORD, N.C. — ARC Shopping Center REIT, through its PECO-ARC Institutional Joint Venture I, has acquired two North Carolina shopping centers for $11.6 million. In Fayetteville, the joint venture purchased the 66,890-square-foot Westin Center, located at 9545 Cliffdale Rd. in Fayetteville. A 29,000-square-foot, recently renovated Food Lion anchors the center, which is fully leased to tenants including CVS/pharmacy, Family Dollar, Subway and Rent-A-Center. In Sanford, the buyer purchased the 62,382-square-foot Tramway Crossing, located at 2244 U.S. 1. A 29,000-square-foot Food Lion anchors the center, which is 95.5 percent leased to tenants including CVS/pharmacy, Family Dollar and H&R Block.

February 28, 2012

Midwest Mixed-Use

MCSHANE REDEVELOPS 1930s LANDMARK BUILDING

by admin February 28, 2012

CHICAGO — McShane Construction has completed the conversion of a former office building to 28 loft apartments at 2800 N. Milwaukee Ave. in Chicago. The 50,560-square-foot Hairpin Lofts includes apartment units on the top four floors, plus a 7,000-square-foot community center on the second floor. The ground floor features 9,000 square feet of retail space. McShane began reconfiguring the former Morris B. Sachs building in mid-2010. Crews restored the existing facade that dates back to 1930 and refinished the aging marble flooring. The building also includes sustainable features such as a green roof and Energy Star appliances. The project was co-developed by Brinshore Development and Anixer Center.

February 28, 2012

Midwest Retail

ADVANCE AUTO PARTS SELLS FOR $1.5M

by admin February 28, 2012

MACHESNEY PARK, ILL. —Orput Cos. has sold its single-tenant, net leased Advance Auto Parks property, located at 1535 W. Lane Rd. in Machesney Park, for $1.5 million. Orput developed the 6,124-square-foot building in 2011. Advance Auto Parts has 14 years remaining on its lease. The Boulder Group represented Orput in the transaction. SAR Enterprises represented the buyer, a California-based investor.

February 28, 2012

Midwest Retail

MAX FITNESS SIGNS NEW LEASE IN FORT WAYNE

by admin February 28, 2012

FORT WAYNE, IND. — Max Fitness has signed a lease for 19,200 square feet at Northbridge Village, located at 1415 W. Dupont Rd. in Fort Wayne. Stanley Phillips of NAI Harding Dahm represented the landlord, Northbrook Development, in the transaction.

February 28, 2012

Civic Northeast

SCIENCE AND TECHNOLOGY MUSEUM SELECTS SKANSKA FOR RENOVATION

by admin February 28, 2012

PHILADELPHIA — The Franklin Institute of Philadelphia has selected Skanska USA to construct its new building addition — the 53,000-square-foot Nicholas and Athena Karabots Pavilion. The project is part of a four-year renovation of the facility and the museum has raised $60 million toward its total goal of $64.7 million. The pavilion addition will include an education and conference center and a permanent exhibition. Skanska plans to break ground this spring and the addition is slated to open in the summer of 2014.

February 28, 2012

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