MARGATE, FLA. — SAVEOLOGY has signed an 85,000-square-foot lease to become an anchor tenant at the 182,000-square-foot SAVEOLOGY Plaza, located at 5235 Coconut Creek Pkwy. in Margate. Prior to the lease signing, the property was named Coco Center. Margate-based Coconut Creek Properties owns the center, which is currently 90 percent leased. No brokers were used in the lease transaction.
RESTON, VA. – Odin, Feldman & Pittleman law firm has signed a 53,918-square-foot lease for office space, located at 1775 Wiehle Ave. in Reston. The firm will relocate from its current office, located at 9302 Lee Hwy. in Fairfax, Va., in the fall of 2012. Wendy Feldman Block and Julie Schuelke of Washington, D.C.-based Studley represented the tenant in the lease transaction. Jeff Roman and Mike Pepper of CBRE's McLean, Va., office represented the landlord.
LAKE ZURICH, ILL. — CB Richard Ellis has arranged the $1.89 million sale of a 57,541-square-foot warehouse, located at 340 E. Route 22 in Lake Zurich. Keith Puritz, Brett Kroner, Ryan Bain and Zach Graham of CBRE's Bannockburn, Ill. office represented the seller, Kavo Dental Technologies, in the transaction. The buyer was Morgan Bronze Products.
LIBERTYVILLE, ILL. — Laser Precision, a company that uses laser technology for fabrication, has leased 30,345 square feet of warehouse space at 1400 Harris Rd. in Libertyville. Keith Puritz, Brett Kroner, Ryan Bain and Zach Graham of CB Richard Ellis represented both the landlord, McShane Liberty Point, and the tenant in the transaction.
KANSAS CITY, KAN. — Logan's Roadhouse has broken ground on 1.4 acres of land at Plaza at the Speedway in Kansas City. The new restaurant will be located just west of Chick-fil-A and is scheduled to open in the summer of 2012. David Block and Becky Goodman of Block & Co. Inc.'s Kansas City office, along with Christian Ablah of Classic Real Estate, represented the seller, Plaza Speedway. Jeff Berg of Lane 4 Group represented the buyer, Speedway LR.
WEST NEW YORK, N.J. — Roseland Property Co. has broken ground on the $120 million River Trace, a 316-unit rental building in West New York. The project, which is a new addition to the 200-acre master-planned community along Port Imperial Boulevard, will include one-, two- and three-bedroom units. Amenities will include a theater room and fitness center. Occupancy is slated for the fall of 2013.
NEW YORK CITY — American Realty Capital New York Recovery REIT has closed on its $22.5 million acquisition of a fee-simple interest in a portfolio of 10 retail condominiums located at 122 Greenwich Ave. in Manhattan. The One Jackson Square portfolio consists of 8,392 square feet, including four rental units. Three of the four rental units are leased to two tenants — a Starbucks coffeehouse and a TD Bank branch.
PITTSBURGH — DoubleTree by Hilton is planning a $16 million renovation of its 465-room hotel in Pittsburgh. The hotel is Hilton's largest in the market, and the project is scheduled for completion by the end of 2012. RIDA Development Corp. will direct the redesign of the Doubletree by Hilton Pittsburgh-Green Tree. The team includes interior design company, Looney & Associates. Renovations are planned for the lobby, guest rooms and the business and fitness centers.
AYER, MASS. — Verizon Communications has renewed its long-term lease for 17,430 square feet at 5 Sandy Pond Rd. in Ayer. Amy Perlman of CB Richard Ellis represented the tenant in the transaction. Richard McKinnon of the Quincy, Ill. office of Grossman Co. Inc. represented the landlord, 5 Sandy Pond Rd. Ayer LLC.
DALLAS — Rick's Cabaret International has signed an agreement to acquire a 54,000-square-foot retail property partially leased to Silvery City Cabaret, an adult nightclub located at 7501 N. Stemmons Freeway in Dallas, for $12 million. Rick's Cabaret is planning on rebranding the Silver City Cabaret and adding a Tootsie's style Knockers Sports Bar to the facility, which is only using 14,000 square feet currently.