SOUTH LYON, MICH. — Orangetheory Fitness has signed a 2,800-square-foot retail lease at Brookdale Square in South Lyon, about 40 miles northwest of Detroit. The shopping center is located near the intersection of 9 Mile Road and Pontiac Trail. Michael Murphy and Tjader Gerdom of Gerdom Realty & Investment represented the landlord, Beztak Properties. There are still a few vacancies left at the center.
WRENTHAM, MASS. — Simon Property Group has welcomed five new tenants to Wrentham Village Premium Outlets on the southwestern outskirts of Boston. Pottery Barn opened earlier this month at the property, which is also home to sister brand West Elm Outlet. Apparel retailers OFFLINE by Aerie, Hollister Co. and Gilly Hicks have also signed leases at the development. OFFLINE by Aerie will open this summer, and Hollister Co. and Gilly Hicks are scheduled to open this fall. Additionally, Shake Shack will debut a new restaurant before the end of the year.
KIRKWOOD, MO. — Brinkmann Constructors has completed a 35,000-square-foot Audi dealership for Semersky Enterprises, a Chicago-based automobile retailer. The two-story property is located in Kirkwood, a western suburb of St. Louis. The project features a lower-level service drive, 18-bay service shop and second-story showroom. Brinkmann’s scope of work included the civil, landscaping and mechanical, engineering and plumbing design-build services in addition to the furniture, fixtures, signage and automotive equipment. Charles Vincent George Architects served as the project architect.
CHICAGO — SVN Chicago Commercial has brokered the $2.3 million sale of a 6,800-square-foot commercial building located at 5212 N. Clark St. in Chicago’s Andersonville neighborhood. Tim Rasmussen of SVN procured a local buyer who plans to convert the ground-floor commercial space into medical use. SVN also represented the undisclosed seller.
SEATTLE — Los Angeles-based BH Properties has purchased Pacific Place, a 2.1-acre upscale entertainment and shopping center in downtown Seattle, for an undisclosed price. Situated between Seattle Convention Center and Pike Place Market, the 335,000-square-foot Pacific Place offers five floors of retail space, including an 11-screen AMC Theatre and various restaurants. Developed in 1998, the regional indoor shopping mall underwent a renovation in 2019. Current tenants include Tiffany & Co., AMC Theaters, Din Tai Fung and Haidilao at the 45 percent-occupied asset. The property also offers a 1,164-stall, below-grade parking garage.
SEATTLE — Cushman & Wakefield has arranged the sale of Villa Luisa, a vintage mixed-use apartment and retail community in Seattle’s Ballard neighborhood. The asset traded for $4.5 million. The names of the seller and buyer were not released. Situated on the corner of NW 60th St. and 15th Ave. NW, Villa Luisa features 16 apartments and four ground-floor retail spaces. Originally built in 1927, the two-story building offers a mix of studios, one- and two-bedroom apartments and on-site parking. Current retail tenants are Nolita Italian bistro, The Wax Bar, a mini-mart and an art studio. Tim McKay, Dan Chhan, Matt Kemper, Jacob Odegard, Dylan Roeter and Byron Rosen of Cushman & Wakefield represented the seller in the deal.
LAREDO, TEXAS — SE Legacy Development LLC, a development firm founded by the Walker Family, has broken ground on a $7.4 billion master-planned project in South Texas. The development, named Talise, will be situated on 13,000 acres north of Laredo in an unincorporated portion of Webb County. Situated at the intersection of I-35, U.S. Highway 83 and Texas Highway 255, Talise will feature thousands of single-family and multifamily residences, an industrial and manufacturing park, town center retail space, regional airport and a newly discovered water source. The name Talise is a term with Native American-Iroquoian roots meaning “lovely water.” The Walker Family, a multi-generational entity that has owned ranch land spanning more than 250,000 acres over the course of its history, owns the land for Talise and is investing $1.6 billion in the development. The Walker Family discovered the water source on the land and is proposing a way to use the resource as an alternative solution to current water shortages in Laredo and Webb County. The newly established Legacy Water Supply Corp. is proposing a method to treat 50 million gallons of water within the Talise land holdings daily. SE Legacy Development is drilling 40 water wells to access …
WOODSTOCK, GA. — SRS Real Estate Partners has brokered the $3 million ground lease sale of a newly built restaurant property located at 9893 Highway 92 in Woodstock, about 30 miles northwest of Atlanta. Raising Cane’s occupies the property on a 15-year, corporate guaranteed lease. Michael Berk, Patrick Nutt and William Wamble of SRS represented the seller, Brentwood, Tenn.-based Warren Commercial Real Estate, in the transaction. The buyer was a private investor based in California.
CHARLOTTE, N.C. — Gantry has arranged a $2.1 million permanent loan for the refinancing of Shoppes at Toringdon, an inline retail building located at 12194 Johnston Road in Charlotte. Situated on 1.6 acres within the larger Toringdon Circle retail community, the 8,000-square-foot property was leased to three tenants at the time of financing, including a specialty bicycle shop, eye doctor and a cell phone storefront for a major wireless carrier. Tim Storey, Casey Kupferberg and Chad Metzger of Gantry’s Phoenix office arranged the loan through one of the firm’s correspondent life insurance companies. The five-year, fixed-rate loan features a 30-year amortization schedule.
MESA, ARIZ. — Tempe-based Sun State Builders, on behalf of Greenwood and McKenzie Real Estate Investments, has completed Gateway Quads, a $17 million, 122,780-square-foot industrial center in Mesa. Situated on 10 acres on East Germann Road and South 18th Street, Gateway Quads features four 30,6800-square-foot industrial and retail buildings, which are divisible to 7,600 square feet. The buildings offer 24-foot ceilings and multiple truck loading areas. Winston Architects worked on the project, with construction beginning in August 2023.