ARLINGTON, TEXAS — Marcus & Millichap has arranged the sale of Gardens Town Center, a 19,451-square-foot retail property located in Arlington. Philip Levy and Chris Gainey of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a developer. Levy also represented the buyer, a partnership. Gardens Town Center is located at 4130 South Bowen Road. The center is 100 percent occupied and all leases are triple-net. Fifty percent of the gross leasable area is leased to Fossil Creek Liquor, which is paying percentage rent in addition to base rent. Other tenants include Papa Murphy’s Take N Bake Pizza, Comet Cleaners, Subway and Town Garden Salon. The building was constructed in 2010 and sits on 2.2 acres.
NORTH RICHLAND HILLS, TEXAS — The Frank Kent Motor Co. has purchased a 125,000-square-foot facility at 6550 Wuliger Way in North Richland Hills. The facility will serve as the company’s new corporate headquarters for the relocation of its General Motors accessory distribution business and the creation of its Texas training facility. A former Sealy bedding plant, the 15-acre property located just north of NE Loop 820 near Iron Horse Boulevard was vacant for 18 months. Southwest ADI is the exclusive automotive accessories distributor for the General Motors brands in the Dallas-Fort Worth, Austin, San Antonio and Houston areas. This new location will employ 50 full-time employees in conjunction with space to train up to 75 people from the dealers the company services.
NEW YORK CITY — Kalmon Dolgin Affiliates Inc. (KDA) has arranged the sale of a 90,000-square-foot flex property located at 1351 and 1339 Jerome Ave./1320 and 1342 Inwood Ave. in the Mount Eden section of the Bronx. Jerome Avenue Storage Associates LLC, operating as American Self-Storage, purchased the property by executing its lease option to buy for $9 million from Boss Realty LLC/Plaza Packaging. The property features high ceilings, multiple loading docks and drive-in entrances. Grant Dolgin and Dmitri Gourianov of KDA represented both parties in the transaction.
NEW YORK CITY — TerraCRG has arranged the sale of a commercial building located at 401 State St. in the Boerum Hill neighborhood of Brooklyn. The 12,000-square-foot building sold for $10 million, or $833 per existing square foot. The property was sold vacant and is ideal for a community facility, office or residential conversion. Ofer Cohen, Melissa Warren, Dan Marks, Peter Matheos and Michael Hernandez of TerraCRG represented seller Joseph Streicher, while Mark Kennedy of Douglass Elliman represented the buyer in the transaction.
RIVER VALE, N.J. — Cushman & Wakefield has brokered the sale of Edgewood Country Club, a 185-acre property located in River Vale. The Witmondt and Schonbraun Families, operating through Edgewood Golf Course Realty Associates, acquired the property for an undisclosed sum from Edgewood Country Club Inc. Located at 449 Rivervale Road, the property operates as a private 27-hole golf course and country club facility, including a 41,500-square-foot clubhouse, swimming pools, tennis courts, driving range, putting greens, snack bar, banquet facilities and other amenities. Gary Gabriel, Andrew Merin, David Bernhaut, Brian Whitmer and Ryan Dowd of Cushman & Wakefield brokered the transaction.
EUREKA, MO. — Gershman Commercial Real Estate has brokered the sale of a 15,859-square-foot retail space located at 98 The Legends Parkway in Eureka. CUNA Mutual Investment Corp. sold the property to The Legends Plaza LLC for an undisclosed sum. Roger Zigler and Stephen Symsack of Gershman Commercial represented both parties in the transaction.
PURCELLVILLE, VA. — ECHO Realty has purchased Purcellville Gateway, a 90,000-square-foot grocery-anchored shopping center located at the intersection of Berlin Turnpike and Main Street in Purcellville, a town in Virginia’s Loudoun County. Jordan Lex and John Owndoff of HFF brokered the transaction. The developers, a partnership between Roadside Development and Harris Teeter, built the shopping center on the original Cole Farm site and preserved three of the original structures. One of the original barns is occupied by The Wine Kitchen and IJ Canns American Grille, and the silo that once held grain for the farm now houses equipment to support the public water feature and fountain. Originally opened in 2012, a second phase of the development opened in 2015, featuring The UPS Store and a new Starbucks drive-thru location, as well as an expanded Pet Valu. Chick-fil-A will also open later this year on the northeastern corner of the property, and ECHO is exploring plans to build additional, light density retail and residential use on a three-acre parcel at the northwest corner of the property. Purcellville Gateway is ECHO Realty’s first center acquired in Virginia and the new ownership has chosen to retain the management and leasing services of Roadside …
ROSENBERG, TEXAS — Paragon Outlet Partners, a retail real estate development firm headquartered in Baltimore, has finalized plans to develop Paragon Outlets Houston. Upon completion of Phase I, the ground-up project, which sits 30 miles southwest of Houston, will include more than 283,000 square feet of gross leasable area. Located in the city of Rosenberg along I-69 and Reading Road in Fort Bend County, which has been ranked by Forbes as the fifth fastest growing county in the United States, Paragon Outlets Houston is slated to open in November 2016. The outlet mall is expected to bring 400 construction jobs along with up to 1,000 permanent jobs to the marketplace.
HOUSTON — Coldwell Banker Commercial United Realtors has arranged the sale of 18,500 square feet of land located at 7415 Roswell St. in Houston. David Hummel of Coldwell Banker Commercial United Realtors represented the seller, and A & V Services Inc. was the buyer. The land will be used for a car dealership.
SAN ANTONIO — Standridge Cos. and Legacy Capital Co. have formed a partnership and acquired multiple tracts totaling 45 acres within the Monterrey Village mixed-use commercial project at the southwest corner of Loop 410 and S.H. 151 in western San Antonio. The tracts are fully entitled and ready for development and sales to end-users and developers. The Monterrey Village acquisition is the second investment partnership between Legacy Capital and Standridge. The two companies recently completed a 33-acre project on the north side of SH 121 between Paige Road and Blair Oaks Drive, just northwest of Nebraska Furniture Mart in The Colony.