KEENE, N.H. — Brady Sullivan Properties has signed leases with five new tenants at its Colony Mill Marketplace and Center at Colony Mill in Keene. Curry Restaurant, Southern NH Services and Bruce Carey Insurance opened a total of 3,600 square feet at Colony Mill Marketplace, while Adecco and Prospect Place joined Center at Colony Mill with a total of 2,500 square feet. Benjamin Kelley and Charles Panasis of Brady Sullivan Properties brokered the transactions.
ITHACA, N.Y. — STREAM Capital Partners has arranged the sale of a 2,480-square-foot two-tenant retail property in Ithaca. A private investor purchased the property for $640,000 at a 6.25 percent cap rate. The property was under a short-term existing ground lease to the current tenants, Tim Hortons and Cold Stone Creamery. Susan Harris of STREAM Capital Partners represented the undisclosed seller in the transaction.
LAS VEGAS — AW Family Trust has acquired Durango Springs Plaza, a 15,800-square-foot retail center in Las Vegas, for $8.3 million. The center is located at 8520, 8530, 8550 W. Warm Springs Road. Chris Emanuel and John Blommer of Virtus Commercial represented the seller, DSP 1 LLC, in this transaction.
PHOENIX — Scooter’s Coffee has announced plans to add new coffee shops to four states, which includes Phoenix, Ariz. Other states receiving outposts include Florida, Oklahoma and Arkansas. Once these locations are open, Scooter’s will have more than 130 stores in 14 states. It plans to open 25 new locations in the first half of 2016.
INDIAN LAND, S.C. — MPV Properties has broken ground on RedStone, a retail development located in Indian Land. Phase I of the property will feature a 14-screen Stone Theatre and 54,900 square feet of retail shop space. Upon completion, the shopping center will total 310,000 square feet. The property will be situated at the intersection of Highway 521 and Highway 160 in northern Lancaster County. MPV’s team for the RedStone project includes developer Mike Bilodeau and leasing agent Keely (Simerville) Hines.
GAINESVILLE, FLA. — The first 365 by Whole Foods Market announced for the state of Florida is set to anchor Butler Town Center, a 350,000-square-foot mixed-use addition to Butler Plaza located in Gainesville. The shopping center is located at the Archer Road (State Road 24) exit of I-75. The 365 by Whole Foods Market is scheduled to open in advance of the Town Center, which is set to open in 2018. Butler Town Center will consist of retail, restaurant, hospitality and multifamily components upon completion. The new 365 by Whole Foods Market concept will offer shoppers low prices on natural and organic products that meet Whole Foods Market’s standards for quality.
DAYTONA BEACH, FLA. — P.F. Chang’s, an Asian-inspired bistro, will open a new restaurant at ONE DAYTONA, the planned 300,000-square-foot mixed-use and entertainment destination set to open in 2017. The project will be located across from Daytona International Speedway in Daytona Beach. P.F. Chang’s will open its new 5,500-square-foot restaurant within the project’s Victory Circle section. Other tenants that have recently signed leases at ONE DAYTONA include Hy’s Toggery and Kilwins Confections. Additionally, Shaner Hotels and Prime Hospitality Group (PHG) announced the name of the new Marriott Autograph Collection hotel — The DAYTONA — and the flag for their select-service hotel — Fairfield Inn & Suites by Marriott. Prime Group also serves as the developer for an approximate 268-unit residential apartment community, originally planned for a later phase and now part of the initial phase of ONE DAYTONA.
MARYSVILLE, OHIO — Marcus & Millichap has arranged the sale of a 13,026-square-foot retail center in Marysville, approximately 33 miles northwest of Columbus, for $1.6 million. Millcreek Center was 84 percent occupied at the time of sale, and tenants include Subway, Anytime Fitness, All Smiles Family Dental Care and TK Nails. A private, out-of-state investor sold the asset, located at 15590 U.S. Route 36, to a local investor. C.J. Jackson, Erin Patton, Scott Wiles and Craig Fuller of Marcus & Millichap listed the property on behalf of the seller.
ARLINGTON, PLANO AND SAN ANTONIO, TEXAS — Canyon Partners Real Estate, a commercial real estate investment firm, has completed three preferred equity investments in the fourth quarter of 2015. The deals totaled $29.4 million and will be used to develop apartment communities in Plano and San Antonio and a mixed-use student housing property in Arlington. The three investments closed included: An equity investment of $11.7 million in a joint venture with affiliates of Catalyst Urban Development and LandPlan to fund the construction of The Huntington, a 320-unit multifamily property in Plano. The site is less than a quarter-mile from Legacy Business Park, a 2,655-acre, Class A office development, which serves as the headquarters for many Fortune 500 companies; An equity investment of $7.6 million in a joint venture with affiliates of Catalyst Urban Development and LandPlan to fund the development of 101 Center, a mixed-use student housing community in Arlington. The project includes 244 units with high-end finishes and Class A amenities, 18,412 square feet of ground-floor retail with 90 parking spaces and a 600-space parking garage; A preferred equity investment of $10.1 million in a joint venture with an affiliate of the NRP Group to fund the development of …
TOMBALL, TEXAS — Northpointe Crossing LLC has purchased 4.3 acres located on Tomball Parkway near Northpointe Boulevard in Tomball. Christopher Winters of Colliers International represented the seller, Eastbourne Northpointe I, and R1 Brokerage represented the purchaser in the transaction. Northpointe Crossing is a local real estate developer specializing in retail and office development.
