LISLE, ILL. — Baceline Investments LLC has acquired a 15,464-square-foot retail property in Lisle, approximately 20 miles west of Chicago, for an undisclosed price. Century Plaza was built in 2002 and is located at 2801 Ogden Ave. The shopping center consists of 10 stores including Dunkin’ Donuts, Jimmy John’s and Domino’s. The seller in the transaction was undisclosed. Denver-based Baceline Investments is a privately held boutique real estate investment and management company that specializes in the acquisition, management and sale of necessity-based shopping centers in the Midwest.
OAK BROOK, ILL. Mid-America Real Estate Corp. has brokered the sale of a 67,143-square-foot retail property in Oak Brook, approximately 20 miles west of Chicago. Newport Capital Partners acquired The Oaks of Oak Brook on behalf of Newport Fund II for $18.2 million. The retail property is located at the intersection of Kingery Highway and 16th Street and features tenants such as Panera Bread, Atheltico, Wells Fargo and Sleepy’s. Joe Girardi and Ben Wineman of Mid-America represented the seller in the transaction, a joint venture between DLC Management and Hutensky Capital Partners.
CHICAGO — Baum Realty Group LLC has brokered the sale of The Armitage Collection in Chicago for $14.6 million. The Armitage Collection is a 32,604-square-foot retail portfolio that is located at 1123 – 1133 W. Armitage Ave. The portfolio is 100 percent leased to five tenants and consists of four, two-story buildings. Greg Dietz and Danny Spitz of Baum Realty represented the private seller in the transaction. The buyer was undisclosed.
NEWPORT BEACH, CALIF. — Irvine, Calif.-based The Khoshbin Company has acquired three retail properties in Newport Beach from GP’s Landing LLC for $28.9 million. Located at 2751 and 2801 Coast Highway and 2620 Avon St., the properties consist of 29,341 square feet, a marina and include two well-known landmarks — Billy’s at the Beach and The Ritz restaurant, formerly The Chart House. Alton Burgess and Travis Haining of Lee & Associates Newport Beach represented the buyer, while Brian Barson of Lee Newport Beach represented the seller in the transaction.
LA HABRA, CALIF. — Strategic Retail Advisors has negotiated the $8 million acquisition of Northgate González Markets at La Habra Towne Centre in La Habra. Situated on 9.2 acres, the 104,423-square-foot property is occupied by CVS/pharmacy, Petco and Jack in the Box. Nelson Wheeler and Blaine Bush of Strategic Retail Advisors represented the buyer, Northgate González Markets, while Jones Lang LaSalle represented the undisclosed seller.
LONGMONT, COLO. — Village at the Peaks, a national parks-themed shopping center located on the grounds of the former Twin Peaks Mall in Longmont, has added four new tenants. Newly signed retailers include Boulder, Colorado-based Ozo Coffee Co., Mathnasium, The Sleep Number and Brain Balance Achievement Center. The property is currently over 85 percent leased to a total of 29 retailers including Whole Foods Market, Sam’s Club and Regal Cinemas.
BOSTON AND NEW YORK CITY — Rockville, Md.-based Federal Realty Investment Trust has acquired the 70 percent interest owned by affiliates of a discretionary funded advised by ING Clarion Partners in a joint venture that owns six shopping centers. The purchase price was approximately $154 million, consisting of $130 million of cash and assumption of the allocable share of mortgage debt. The properties include Atlantic Plaza and Campus Plaza near Boston; Greenlawn Plaza on Long Island; Free State Shopping Center and Plaza del Marcado in suburban Maryland; and Barcroft Plaza in Northern Virginia. With this acquisition, Federal Realty has successfully concluded the the venture that was formed in 2004 and increased its ownership of the 820,000-square-foot portfolio from 30 percent to 100 percent.
NEW YORK CITY — HFF has secured $13.6 million in acquisition bridge financing for a 17,615-square-foot mixed-use property located at 315 Broadway in Manhattan’s Tribeca neighborhood. The borrower, United American Land, plans to used the loan to reposition the property into a boutique office building with high-quality retail space on the ground floor. The five-story loft property has 13,900 square feet of office space, 3,715 square feet of ground-floor retail space and approximately 23,401 square feet square feet of unused air rights. Steven Klein and Geoff Goldstein of HFF arranged the four-year, floating-rate loan through Peoples United Bank.
LAFAYETTE, LA. — RCG Ventures has purchased Acadiana Square, a 244,768-square-foot power retail center in Lafayette. Located adjacent to Acadiana Mall, the retail center is anchored by T.J. Maxx, Party City, PetSmart and Office Depot. Scott Tarbet represented RCG Ventures internally, and Jim Hamilton and Richard Reid of HFF represented the undisclosed seller.
DALLAS — Trammell Crow Co. and MetLife have begun construction on Park District in the heart of downtown Dallas, the Arts District, Uptown and Klyde Warren Park. The two-tower mixed-use development spans more than 900,000 square feet of Class A office space, restaurants and residences. The 20-story office tower, PwC Tower at Park District, will feature 500,000 square feet of Class A office space with 7,000 square feet of ground-floor retail. PricewaterhouseCoopers (PwC), a global professional services firm providing assurance, tax and advisory services, is the building’s anchor tenant, occupying 200,000 square feet on floors 12-19. The tower features fitness facilities, outdoor common spaces, on-site banking and a valet. The lobby will include a conference center, executive lounge and a “great room” for tenants to use as an alternative workspace. Trammell Crow’s residential subsidiary, High Street Residential, is developing the 33-story Residences at Park District, which will feature 253 units and 13,000 square feet of retail space fronting Klyde Warren Park. Residents will have access to an amenity deck with a pool overlooking the park and the Dallas skyline, a fitness center, valet and concierge services. The retail space will have 20-foot floor-to-floor glass on two levels providing the second …