ARLINGTON — Southwire Co. has leased 242,370 square feet of industrial space at Arlington Commerce Center, located at 4925 New York Ave. in Arlington. Allen Gump and Noel Hutcheson of Colliers International's Dallas office represented the tenant in the lease transaction. John Leinbaugh of Industrial Developments International's Dallas office represented the landlord.
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THE WOODLANDS — An unnamed oil and gas company and Fleetpride have leased 47,152 square feet and 22,579 square feet, respectively, at 8401 New Trails Office Building in The Woodlands. The two new leases combine for 69,731 square feet and bring the building to full occupancy. Joe Dalak of TIG Real Estate Services represented the landlord, Creekstone 8401 New Trails, in the lease transactions. Jim Landsaw of Fisher & Co. represented Fleetpride in one transaction, and Damon Palermo of Palermo REI represented the oil and gas company.
LAKE ELSINORE, CALIF. — A single-tenant Walgreens location in Lake Elsinore has sold to a private investor from Palm Desert, Calif., for $8,086,409. It sold at a 6.48 percent cap rate. The 13,678-square-foot building was constructed in 2011 on a 1.57-acre parcel at 31781 Mission Trail Road. It is leased to Walgreens for 75 years. Hanley Investment Group Real Estate Advisors’ William B. Asher and Jeremy S. McChesney represented both the buyer and the seller, a private investor from Seal Beach, Calif., in this transaction.
AURORA, COLO. — Arapahoe Crossings is adding two more retailers to its roster. Gordmans is set to open a 55,000-square-foot store at the Aurora shopping center in fall 2012, while Chuck and Don’s Pet Food Outlet will debut a 7,000-square-foot location in early 2012. The center will boast an occupancy rate of more than 90 percent with the addition of these two tenants. Gordmans was represented by Allan Murow of Noddle Companies. Chuck and Don’s was represented by Carl Luppens of Nordic Land Company. Brixmor’s Paul Sheppard represented Arapahoe Crossings in these transactions.
PASADENA, CALIF. — Saiful/Bouquet Inc. (SBI) has leased 19,263 square feet at 155 N. Lake Ave., a Class A office building in Pasadena. The structural engineering company will be relocating from nearby Western Asset Plaza. SBI was represented by Josef Farrar and Matt Sasaki of UGL Services’ Downtown Los Angeles office. The owner, Equity Office Properties, was represented by Patrick Church of CB Richard Ellis.
ATLANTA — Carter, with offices in Atlanta, Tampa, Fla., and New York City, has plans to pursue $500 million in development and investments. Following the completion of the sale of the company's brokerage and property management groups, the firm is focusing on four key areas: development of mixed-use and for-rent multifamily properties in urban infill locations, equity development of student housing, acquisition of opportunistic and value-add investments in the office sector and growing its project management and strategic consulting business.
DELRAY BEACH, FLA. — RexxHall Realty has purchased the three-building Arbors Office Park, located at 1615, 1625 & 1690 S. Congress Ave. in Delray Beach. The buildings total 244,247 square feet and are 45 percent leased to tenants including Alfred Angelo, Sperry & Hutchinson, Twin-Star International and Escalate. Charles Foschini, Christoper Aphone and Christian Lee of CBRE's Miami office, along with Scott O'Donnell of the firm's Boca Raton, Fla., office and Dominic Montazemi of the firm's Palm Beach County, Fla., office, represented the seller in the transaction.
GOLDSBORO, N.C. — The 57,000-square-foot Five Points Plaza, located at 102-118 Five Points Rd. in Goldsboro, has been sold for $6 million. Food Lion anchors the center, which is 97 percent leased. Drew Fleming and Mark Joines of Cassidy Turley's Atlanta office represented the buyer, a North Carolina-based private equity group, in the transaction. Marlene Spritzer of CresaPartners' Cary, N.C., office represented the seller, a North Carolina-based developer.
WASHINGTON, D.C. — Urban Investment Partners (UIP) has purchased a 21-unit apartment building, located at 1346 Park Rd. NW in Washington, D.C.'s Columbia Heights neighborhood, from Someck Development and Northridge Capital for $3.7 million. UIP has plans to invest $2.7 million in a full renovation of the property, including new plumbing, electrical, heating and cooling systems, as well as a new roof, windows and condo-level finishes. Additionally, seven units will be added on the cellar level. Andrew McAllister of Washington, D.C.-based MAC Realty Advisors represented the sellers in the transaction.
NORTH EAST, MD. — Restoration Hardware has signed a 1.2 million-square-foot industrial lease for a facility at Trade Center 95, located off Interstate 95 and Highway 40 in North East. The company will move into an existing 600,000-square-foot building in January 2012. Adjacent to the structure, Atlanta-based Weeks Robinson will build an additional 600,000-square-foot facility, which is slated for completion in the fall of 2012. Carl Mullis of CBRE's Atlanta office represented the tenant in the lease transaction and Weeks Robinson, the landlord was self-represented by Forrest Robinson.