ABILENE, TEXAS — Bright Realty has negotiated a 10,020-square-foot retail lease at a former Big 5 Sporting Goods store at 2365 S. Danville Drive in the west Texas city of Abilene. Tim McNutt and Britton Lankford of Bright Realty represented the landlord in the lease negotiations. Jennifer Frank and Brian Frank of Segovia Retail Group represented the tenant, Skechers.
ATLANTA — Duke Realty Corp. has expanded its metro Atlanta industrial portfolio by nearly 600,000 square feet. The Indianapolis-based REIT broke ground on Camp Creek 4505, a 336,960-square-foot warehouse within Camp Creek Business Center in East Point near Hartsfield-Jackson Atlanta International Airport. Camp Creek 4505 will be the 10th warehouse Duke Realty has developed in its 400-acre industrial park. Duke Realty also purchased a 250,000-square-foot industrial facility at 2601 Skyview Drive in Lithia Springs for an undisclosed price. With these transactions, Duke Realty now owns and manages more than 11.3 million square feet of industrial properties in the Atlanta metro area.
DECATUR, GA. — Colliers International has arranged the $30 million sale of Perimeter East Industrial Park, an eight-building, 775,339-square-foot development situated near Interstate 285 in Decatur. Shreveport, La.-based Sealy & Co. purchased the property from Boston-based High Street Realty Co. Dennis Mitchell and Matt Wirth of Colliers represented High Street Realty in the transaction.
WINTER HAVEN, FLA. — Marcus & Millichap has brokered the $24 million sale of Cypress Gardens Apartments, a 278-unit multifamily community located at 4200 Mahogany Run in Winter Haven, about two miles from the Legoland Florida Resort. Community amenities include two swimming pools with sundecks, a dedicated parking lot for boats and trailers and a paved picnic area with a pergola. All of the apartment interiors have received upgrades, including new or resurfaced countertops, stainless steel appliances and new bedroom carpeting. Frank Carriera and Michael Regan of Marcus & Millichap’s Tampa office represented the seller and procured the buyer. Cypress Gardens was 93 percent occupied when the seller listed the property for sale.
SANTA MONICA, CALIF. — A joint venture between Douglas Emmett and Qatar Investment Authority (QIA) has purchased two office buildings in Santa Monica for $352.8 million. The assets include a 206,000-square-foot building at 1299 Ocean Ave. and an 87,000-square-foot office building at 429 Santa Monica Blvd. The same consolidated joint venture also acquired 12100 and 233 Wilshire Blvd. in 2016. A portion of the purchase price was provided by a $142 million secured, non-recourse, interest-only loan to the joint venture that matures in July 2019 and bears interest at LIBOR plus 1.55 percent. Douglas Emmett provided 20 percent of the equity capital and manages the joint venture.
BRIDGEWATER, N.J. — HFF has brokered the sale of 1125 Route 22, a 95,620-square-foot office building in Bridgewater. HFF marketed the property on behalf of the seller, KBS Realty Advisors, and procured the buyer, a partnership of Atkins Cos. and Capital Solutions. 1125 Route 22 is located along Route 22 West just off of Interstate 287. The property consists of two separate wings and is occupied by Bank of America and MidJersey Health Corp. The HFF investment sales team representing the seller included Jose Cruz, Kevin O’Hearn, Stephen Simonelli, Michael Oliver and Marc Duval.
MENIFEE, CALIF. — MJW Property Group has acquired the 230-unit Cantabria Apartment Homes in Menifee for $43.6 million. The community is located at 30951 Hanover Lane. It sits adjacent to San Jacinto College off the 215 Freeway. Community amenities include a resort-style pool with cabanas, courtyard fireside lounge and fitness center. Kyle Pinkalla, John Chu and Ed Rosen of Berkadia executed the transaction. The seller was Strata Cantabria LLC.
INDIANA, MICHIGAN AND OHIO — Four Corners Property Trust (NYSE: FCPT) has acquired 16 properties occupied by Bob Evans Restaurants as part of a $35.1 million sale-leaseback transaction. The transaction was completed simultaneously with Golden Gate Capital’s acquisition of Bob Evans Restaurants from Bob Evans Farms Inc. In the Midwest, the properties are located in Indiana, Michigan and Ohio. The other properties within the portfolio are located in Delaware, Maryland, New York, Pennsylvania, Virginia and West Virginia. The properties are occupied under a single triple-net master lease with a 20-year initial term.
BRIGHTON, MASS. — Northeast Private Client Group has arranged the $3 million sale of a 6,000-square-foot mixed-use property located at 270 Parsons St. in Brighton. Drew Kirkland and Francis Saenz of Northeast Private Client Group represented the seller and procured the buyer in the transaction. The property is a 100 percent-leased, multi-tenant industrial building near the Massachusetts Turnpike. Eastern Equity Partners was the seller and City Realty Group was the buyer.
LAFAYETTE, IND. — Marshalls and Ulta have signed retail leases at Lafayette Pavilions in Lafayette, northwest of Indianapolis. Marshalls will occupy 22,000 square feet and Ulta will occupy 10,000 square feet. Seth Biggerstaff, Jamison Downs and Kyle Hughes of Veritas Realty represented the landlord, ARCP MT Lafayette LLC.