NEW YORK CITY & ATLANTA — Colliers International Group has acquired Colliers International Atlanta. The current shareholders of Colliers Atlanta will continue to retain equity in the business under Colliers’ unique partnership model. Terms of the transaction were not disclosed. Founded in 1967, Colliers International Atlanta offers a full range of services for commercial real estate owners and occupiers. Comprising more than 250 professionals, Colliers International Atlanta provides investment sales, lease brokerage, capital markets, property management and project management to local, regional, national and international clients.
CLEVELAND, OHIO — Friedman Integrated Real Estate Solutions has brokered the sale of a 41,780-square-foot retail property in Cleveland. Brooklyn Centre is located at 3712-3762 W. 125th St. and is situated on 2.9 acres. The retail center was built in 1993 and is comprised of three buildings. The largest building is 29,780 square feet and is configured for a single tenant. The other two buildings are 6,000 square feet each. One facility is for a single tenant, and the other is a multi-tenant building. Tenants in Brooklyn Centre include Rent-A-Center and CVS Pharmacy. Rich Deptula of Friedman represented both undisclosed parties in the transaction.
SHAKOPEE, MINN. — Marcus & Millichap has brokered the sale of Dean Lakes in Shakopee, a southwest suburb of Minneapolis. The 7,826-square-foot retail center, located at 4041-4061 Dean Lake Blvd., sold for $2 million. The property is 100 percent occupied. Tenants include Qdoba, Shakopee Wine and Siriouthay. Matthew Hazelton, Adam Prins, Cory Villaume and Sean Doyle of Marcus & Millichap represented both undisclosed parties in the transaction. Brian Klancke also assisted in procuring and representing the buyer.
FORT WORTH, TEXAS — Marcus & Millichap has arranged the sale of Woodmont Plaza North, a 42,004-square-foot retail property located in Fort Worth. Philip Levy of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a private investor. Levy also secured the buyer, a private investor. Woodmont Plaza North is located at 6200 McCart Ave. The property is a multi-tenant retail center that is 91 percent occupied. Tenants include EZ Money Payday Loans, Schlotzsky’s Deli, Krispy Catfish, Evolution Games, Agape Church, Maya’s Furniture & More, Century 21, Supercuts, H & R Block, Little Caesar’s, Eddie Bermea State Farm and Cousin’s Barbecue. The center was built in 1982 and sits on 4.1 acres. Woodmont Plaza North is located on McCart Avenue about two miles south of Interstate 20.
FLOWER MOUND, TEXAS — HFF has arranged the sale of Robertson’s Creek, a 336,402-square-foot power center in the Dallas suburb of Flower Mound. HFF arranged the sale of the property on behalf of the seller, a partnership between TFG Crown Partners and Ball Ventures. Dunhill Partners purchased the asset for an undisclosed amount. Completed in 2007, the 97 percent leased property includes tenants such as Belk, Hobby Lobby, Dick’s Sporting Goods, Old Navy and ULTA Beauty. Situated on 39 acres at 5801-5861 Long Prairie Road, Robertson’s Creek is located less than 30 miles northwest of downtown Dallas and less than 33 miles northeast of downtown Fort Worth. Doug Hazelbaker and Ryan Shore led the HFF investment sales team representing the seller.
PORTER, TEXAS — The Signorelli Co., has broken ground on a 120,000-square-foot Kroger in Valley Ranch Town Center, a new retail district inside the master-planned community of Valley Ranch. The 1,400-acre community is situated at the intersection of U.S. 59 and the Grand Parkway, just north of Kingwood. Sam’s Club, Academy Sports + Outdoors and several restaurants including Chili’s, Chick-fil-A and El Pollo Loco were the first to be announced in Valley Ranch Town Center. A cinema, which will be one of the anchors of the planned entertainment district along with a 10,000-seat amphitheater, will soon be announced along with other stores and restaurants. A 135-acre park called The Grove will border Valley Ranch. Also part of Town Center is Texan Drive Stadium at Valley Ranch, a football stadium for the New Caney ISD. At final completion, Valley Ranch is planned to include approximately 2,500 homes and townhomes and 1,000 multifamily residences.
QUINCY, MASS. — Related Beal has completed the interior renovation of Presidents Place, a mixed-use property located at 1250 Hancock St. in Quincy. The renovation program included the modernization of the elevators, common corridors and restrooms; a new lobby and signage; and improvements to the building’s façade and parking garage. In addition to the renovations, Related Beal signed six new tenants to the 350,000-square-foot building: Barnes & Noble Bookstore, Mass Bay Credit Union, The Townshend, Best of Care, Beacon Clinical Research and Jimmy John’s Gourmet Sandwiches. Additional tenants at the property include Quincy College, Harvard Vanguard and Best Doctors. The property is owned and managed by Related Beal in partnership with Boston Andes Capital.
MANCHESTER, N.H. — Brady Sullivan Properties and Anagnost Cos. have purchased the former Osram Sylvania Plant on South Willow Street in Manchester. The two Manchester-based companies will redevelop the location from an industrial building to Class A retail space. This multi-retailer space will total approximately 300,000 square feet, with an anchor space of 50,000 square feet, and will include ample parking. This project will bring both jobs and approximately $1.5 million in tax revenue to the city after its completion in late 2016.
SUSQUEHANNA, PA. — Bayer Properties and Clarion Partners have acquired The Shoppes at Susquehanna Marketplace, a 110,384-square-foot outdoor fashion center located in Susquehanna. Developed in 2004 and located at the intersection of Interstates 81 and 83 in Susquehanna, an affluent suburb of Harrisburg, Pennsylvania, The Shoppes at Susquehanna Marketplace features a variety of national and regional tenants, including Athleta, Banana Republic, Williams-Sonoma, J. Crew Factory, LOFT, White House | Black Market, Harvest Seasonal Grill & Wine Bar, Romano’s Macaroni Grill and Starbucks. Bayer Properties will lead leasing, property management and marketing efforts. This represents the first joint venture between Bayer Properties and Clarion.
ALTOONA, PA. — Sands Investment Group (SIG) has arranged the $12.2 million sale of a single-tenant Carmike Cinemas in Altoona to Agree Realty Corp., a REIT primarily engaged in the acquisition and development of net-leased retail properties. Max Freedman and Chris Sands of SIG represented the developer, who worked strategically with the firm to sell the building prior to completion of development. The property was in escrow for nine months prior to closing with the sale set to close upon the cinema’s opening. The 120,000-square-foot, 12-screen Carmike theatre was a build-to-suit planned as part of the Convention Center Commons shopping center that will include a 99-room Holiday Inn Express, offices, restaurants and shops. The cinema, located at 234 Convention Center, will open in late 2015.