VIRGINIA BEACH, VA. — Divaris Real Estate Inc. has arranged a 39,000-square-foot office lease within Town Center of Virginia Beach, a 17-block mixed-use development in Virginia Beach. The tenant, Mythics Inc., an Oracle systems integrator and consulting firm, will occupy the top floor and majority of the eighth floor of a LEED-certified office building located at 4525 Main St. Mythics retained Vivian Turok of Divaris Real Estate to represent the firm in its search for new corporate headquarters. Mythics will relocate 143 full-time employees to the new headquarters, with plans to create an additional 30 full-time positions. Michael Divaris and Krista Costa, also with Divaris Real Estate, represented the landlord, TCA Block 11 Office LLC, in the lease deal. Town Center of Virginia Beach features seven office buildings totaling 900,000 square feet of office space, including 4525 Main, which was 95 percent leased at the time of the lease.
ADDISON, TEXAS — The Connor Group has sold The Villages of Addison, a 264-unit property in Addison, a northern suburb of Dallas. Adveni Inc, a South Florida-based multifamily investment firm, purchased the asset for an undisclosed price. HFF’s Roberto Cassas, Bill Miller, Greg Toro and Rob Key marketed the property, located at 17671 Addison Road, on behalf of The Connor Group, a real estate firm specializing in luxury apartments. Josh Simon, Eric Tupler and Andy Scott of HFF arranged financing on behalf of Advenir.
GARLAND, TEXAS — Marcus & Millichap has brokered the sale of Northstar Crossing Shopping Center, a 67,509-square-foot retail center in Garland. Located at 1120-1332 Belt Line Road near North Garland Avenue, the property was 82 percent leased at the time of sale. Lisa Estrada of Marcus & Millichap represented the seller, an undisclosed limited liability company, in the transaction. The buyer’s name and brokerage representation were not disclosed.
KATY, TEXAS — Thor Equities has signed leases with three new retailers totaling 7,150 square feet at The Shoppes at Cinco Ranch, a 183,700-square-foot retail center under construction within Cinco Cranch, a 8,100-acre master-planned development in the western Houston suburb of Katy. Yao Chen of World Wide Realty represented Super Yummy Mongolian Stir-Fry and Sushi, which has leased 2,610 square feet, while Lasater Miller of The Retail Connection represented salad bar restaurant Salata, which has leased 3,000 square feet. Kristen Barker of Wulfe & Co. represented beverage producer Bambu, which has leased 1,540 square feet. George Stanchfield of Thor Equities represented the landlord internally in all three transactions.
COCONUT GROVE, FLA. — Hersha Hospitality Trust has purchased the 115-room Ritz-Carlton Coconut Grove for $36 million. The hospitality REIT funded the acquisition with proceeds from the recent sale of the Residence Inn in Greenbelt, Md. Situated on 3.4 acres about a half-block from the waterfront, the Ritz-Carlton is part of a two-tower, 22-story residential-hotel condominium complex that opened in 2002. The property features 14,000 square feet of meeting space, a restaurant bar, spa, fitness center, retail space, pool, exterior courtyards and approximately 8,000 square feet of leasable office space. The identity of the seller was undisclosed.
HENDERSONVILLE, N.C. — National Health Investors Inc. (NHI) has purchased an 86-unit, two-property portfolio of assisted living and memory care communities in the Asheville suburb of Hendersonville for $16.1 million. The two communities are located adjacent to each other and are collectively known as Spring Arbor. The first property opened in 1999 and features 26 assisted living units and 13 memory care units. The second facility opened in 2002 and comprises 47 assisted living units. NHI will lease the communities to affiliates of Ravn Senior Solutions. The initial lease term is 15 years at an annual lease rate of 7.35 percent plus fixed annual escalators. NHI funded the acquisitions using its revolving credit facility. As part of the transaction, NHI was also offered a purchase option on a third building in the Raleigh-Durham area.
HOUSTON — HFF has closed the sale of Renaissance Center, a 97,279-square-foot, grocery-anchored retail property in downtown Houston. Located at 6102 Scott St. near the intersection of Old Spanish Trail, the center lies inside Houston’s Interstate 610 loop and is within two miles of the Texas Medical Center. Current tenants include H-E-B, Taco Bell, BB&T Bank, Watermill Express and U.S. Renal Care. Ryan West and Rusty Tamlyn of HFF represented the seller, Lionstone Investments, an analytics-driven real estate firm. The buyer, Williamsburg Enterprises Limited, obtained the property with zero outstanding debt.
COPPERAS COVE, TEXAS — Marcus & Millichap has brokered the sale of Copperas Cove Retail, a 16,400-square-foot retail property located at 301 Constitution Drive in Copperas Cove, a city roughly 65 miles north of Austin. The property was 100 percent occupied at the time of sale to tenants such as Payless Shoe Source, Sally Beauty Co., Bank of America, GameStop and Jackson Hewitt Tax Service. Philip Levy of Marcus & Millichap represented the seller, a developer, and secured the buyer, a private investor. Both parties requested confidentiality.
CARROLLTON, TEXAS — Lee & Associates has arranged a 30,863-square-foot industrial lease located at 1624 W. Crosby Road in Carrollton, a northern suburb of Dallas. Adam Graham, Ken Wesson and Christine Vasily of Lee & Associates represented the landlord, EastGroup Properties in the lease deal. Larry Eubanks of Eubanks Real Estate LLC represented the tenant, Complete Supply Inc., a janitorial supply company based in the Dallas-Fort Worth area.
IRVINE, CALIF. — A partnership between R.D. Olson Construction and DKN Hotels has completed construction of the 161-room Homewood Suites by Hilton Irvine/John Wayne Airport in Irvine. The hotel is situated in the Airport submarket near Newport Beach, Corona del Mar and Laguna Beach. The hotel features more than 1,500 square feet of meeting space equipped with high-speed internet access, audio-visual equipment and natural lighting. Lee & Sakahara Architects designed the project.