DALLAS — Wells Fargo Capital Finance has signed a lease expansion/renewal for a total of 51,836 square feet of office space at the International Plaza III building, located at 14241 Dallas Pkwy. in Dallas. Tim Terrell of Dallas-based Stream Realty Partners and Jim Fish of Travers Realty's west Los Angeles office represented the tenant. The landlord is Newport Beach, Calif.-based KBS Realty Advisors.
LOS ANGELES — Colliers International has sold a 15,978-square-foot property along Los Angeles’ famed Melrose Avenue to Fresh & Easy for an undisclosed sum. The space was built in 1997 and resides along the Hollywood/Melrose retail corridor. Fresh & Easy was represented by Mike Grannis and Brent Cunningham of Highland Partners. The seller was represented by Fred Córdova, Tom Lagos, Morgan McEvoy, Frank Magana and Ryan Eddy of Colliers’ Downtown Los Angeles office, along with Mike Fay, who is the president of Colliers’ Miami office.
COLORADO SPRINGS, COLO. – The 112-unit South Circle Apartments in Colorado Springs has sold to Sequoia Property Partners for $5.4 million. The community has undergone extensive renovations over the past five years. ARA Colorado’s Kevin McKenna and Ken Greene represented the seller, Xebec Realty Partners, in this transaction.
SAN DIEGO — Jones Lang LaSalle’s landlord leasing group has executed two office leases in San Diego totaling 38,307 square feet. The first was for VantagePoint Laboratory Partners, which leased 13,766 square feet of laboratory space at Sorrento Canyon Tech Center in the Sorrento Mesa submarket. The 60–month lease is valued at $1.34 million. VantagePoint was represented by David Marino and Shane Poppen of Hughes Marino. Sorrento Canyon’s landlord, Embarcadero Capital, was represented by JLL’s Chad Urie, Ryan Grove and Grant Schoneman. The second lease was for Chart Sequal Technologies, which leased 24,541 square feet of office space at the Pulse Building in the Carmel Mountain Ranch submarket. The 88-month lease is valued at $2,219,000 million. Chart Sequel was represented by Studley’s Ron Magnaghi and Bryan Geisbauer. Pulse’s landlord, World Trade Partners, LLC, was represented by JLL’s Jay Alexander and Ryan Grove.
RICHMOND, VA. — A joint venture between Charlotte, N.C.-based Crosland Southeast and Hartford, Conn.-based Hutensky Capital Partners has broken ground on the first phase of the $54 million, 83-acre Stonebridge, a mixed-use development located on the site of the former Cloverleaf Mall in Richmond. The first phase includes a 123,600-square-foot Kroger, a Kroger fuel station, 20,400 square feet of additional retail space and four out parcels. Phase II is anticipated to break ground in mid-2012, with 175,000 square feet of retail space and approximately 350 multifamily units. McMillan Pazdan Smith designed the development, which will be engineered by the Timmons Group and constructed by HOAR Construction. Additionally, S.B. Cox is demolishing the existing mall.
MARGATE, FLA. — Behringer Harvard has acquired a 280-unit multifamily community, located at 5750 Lakeside Dr. in Margate, for $24.4 million. The property will be rebranded as Lakes of Margate and will receive $2.3 million in capital improvements, including upgrades to apartment units. Behringer Harvard has a 92.5 percent ownership interest in Lakes at Margate. Denver-based Grand Peaks Properties acquired a 7.5 percent ownership interest and will assume management of the property.
RICHMOND, VA. — The 250,000-square-foot 3600 Centre, an office building located at 3600 W. Broad St. in Richmond, has been sold for $4.8 million. Eric Robison, Dean Meyer, Suzanne White and Catharine Spangler of Cushman & Wakefield/Thalhimer's Richmond office, along with Cris Abramson of Cushman & Wakefield's Washington, D.C., office represented Penn Market Properties, the seller, in the transaction. PMC Realty Group was the buyer.
DORAVILLE, GA. — Burlington Coat Factory has opened a 70,000-square-foot store at Doraville Plaza, located at 5766 Buford Hwy. in Doraville. This is Burlington's 14th location for the state of Georgia.
BELLEVILLE, ILL. — In a joint venture, Cerulean Partners LLC and an entity associated with The Inland Real Estate Group of Companies, has purchased the Atrium of Belleville, a 76-unit senior living community in Belleville, Ill. for $2 million. The Atrium, formerly known as Grand Court, was previously owned by Brookdale Senior Living Inc. Cerulean, based in Chicago, plans to invest $1.5 million in property improvements.
ST. LOUIS — Trane USA Inc. has leased 67,848 square feet of industrial space at Trade Center V, located at 13899 Corporate Woods Trail in St. Louis. Vince Bajardi and Jake Corrigan of the Sansone Group's St. Louis office represented the owner in the transaction. Trane USA was self-represented.