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.
SAN DIEGO – An 11,893-square-foot retail building in the San Diego submarket of Hillcrest has sold to Ohio Street Villas Group LLC for $2.3 million. The building is located at 3580 5th Ave. Ohio Street plans to completely renovate the property for retail, office and restaurant use. The LLC was represented by Marc Posthumus of Colliers International. The seller, Cha-Cha Properties LLC, was represented by DTZ’s Danny Fitzgerald and Pascale Loele.
TIGARD, ORE. – A 2,000-square-foot property in Tigard that is net leased to Starbucks has sold to a limited liability company for $1.8 million. The space is located at 9785 SW Shady Lane, near Washington Square Mall. It is situated just off Highway 217. Construction on the building was completed in late April. Starbucks opened in early May. Justin Poor represented both the buyer and seller, another LLC, in this transaction.
AMES, IOWA — The Opus Group has added two tenants to The Foundry in Ames. Starbucks Coffee and Barefoot Campus Outfitter both signed leases for ground-floor space at the 53-unit student housing complex. Slated to open in fall 2015, Starbucks will occupy 2,000 square feet and Barefoot Campus Outfitter will occupy 3,500 square feet. The developer broke ground on The Foundry last fall. Slated to open this August, the project’s residential space is 100 percent pre-leased with 1,900 square feet of retail space still available. Chris Thomason and Steve Scott of NAI Optimum represented Opus in both transactions. Boh Kurylo of The Lerner Company represented Starbucks and Ryan Davenport of Scott Brown Commercial represented Barefoot Campus Outfitter in the deal.
MILWAUKEE, WIS. — Siegel-Gallagher has brokered a 17,000-square-foot lease of retail space at 2220 N. Commerce St. in Milwaukee. Adventure Rock Inc. leased the space for a build-to-suit gymnasium from RiverCrest Equity II LLC, an affiliated entity of Mandel Group Inc. The mixed-use project will also include 46 apartment units on the final parcel in the Humboldt Yards development, which includes Pick-N-Save, Columbia St. Mary’s and RiverCrest Condominiums. John Kuhn of Siegel Gallagher represented the tenant in the transaction.
ST. SIMONS ISLAND, GA. — Westwood Financial Corp. (WFC) has acquired Retreat Village, a 108,600-square-foot grocery-anchored shopping center located at 220 Retreat Village in St. Simons Island. WFC purchased the Winn Dixie-anchored center from Pace Properties LLC and Somera Capital Management LLC for an undisclosed price. The property is currently 97 percent occupied by tenants including H&H Lifestyles, Bonefish Grill, Edwin Watts Golf, AT&T, Great Clips, Subway, Burger King and Verizon Wireless. Richard Reed of HFF represented the sellers in the transaction.
MAUI, HAWAII — Burnham USA has purchased Shops on the Green, a 6.3-acre shopping center on Maui, for an undisclosed sum. The center is located at 100 Wailea Ike Drive in Wailea. Shops on the Green will soon undergo a renovation and a rebranding. It will be renamed Wailea Village Center. The transaction also includes about 22,000 square feet of retail and office buildings, as well as golf-related facilities. Burnham has also secured entitlements to expand the center for an additional 23,000 square feet of retail, which the firm plans to develop immediately. The project is situated directly across from Grand Wailea Resort, the Four Seasons Resort Maui at Wailea and the new Andaz Maui at Wailea Resort. It sits adjacent to the Marriott Residence Inn. The center includes the main facilities for Wailea’s flagship golf course and club, called Old Blue. The seller, Ronald Allred, is best known as the founder and developer of Telluride Ski Mountain Village in Colorado.
DRAPER, UTAH – Wadsworth Development Group has completed a 1,920-square-foot Starbucks in the Salt Lake City submarket of American Fork. The new outpost is located at 496 E. State Road, just north of Orem. Starbucks fully occupies the new space. It was developed by Starbucks Coffee Company.
DORAL, FLA. — Marcus & Millichap has brokered the $9.1 million sale of Doral Signature Shops, an 11,110-square-foot retail property located at 11401 N.W. 41st St. in Doral. The property’s tenant roster includes Starbuck’s Coffee, Mercantile Commerce Bank and Graziano’s. Scott Sandelin and Edward Romo of Marcus & Millichap’s Miami office represented the seller, a partnership between local developers Gadinsky Real Estate and Armando Codina. The buyer was a limited liability company based in Miami.
BOSTON — ELV Associates has sold the Long Wharf, a two-building office and retail property in Boston, to Capital Properties for $34 million. Totaling 77,600 square feet, Long Wharf comprises the five-story Custom House Block and the adjacent four-story Gardiner Building. At the time of sale, the property was 98 percent occupied by a variety of tenants, including AECOM and Chart House restaurant. Robert Griffin, Edward Maher, Matt Pullen, Geoffrey Millerd and Justin Smith of Cushman & Wakefield represented the seller in the transaction.