CHICAGO — Resource Innovation Office REIT Inc., a non-traded real estate investment trust, has purchased 1025 W. Sunnyside, an office building in Chicago, for $7.2 million. The building offers 27,852 square feet of office and retail space with exposed wood beams, high ceilings, open floor plans and café-style workspaces. The property is 100 percent occupied by tenants such as Fansided, an independent sports and entertainment network. Cedar Street Cos. was the seller.
DEARBORN, MICH. — Signature Associates has negotiated the lease of 109,000 square feet of industrial space for The Henry Ford. The building is located at 8747 Brandt Street. Jack Townsend of Signature Associates represented both the landlord, Brandt Street Properties LLC, and The Henry Ford.
DURHAM, N.C. — NAI Carolantic has arranged a 70,000-square-foot lease with Nutanix, a San Jose-based software firm that is expanding its East Coast presence. The company will occupy space at the Chesterfield, an adaptive reuse of a former tobacco building in downtown Durham that Wexford Science + Technology is currently redeveloping. Upon completion the property will include lab and office space, a six-story atrium, 11,500 square feet of ground-level retail space and 42,000 square feet of shared lab innovation space. Robin Roseberry Anders of NAI Carolantic is the leasing agent for the Chesterfield building. Other committed Chesterfield tenants include Duke University for 100,000 square feet and BioLabs NC for 42,000 square feet. Marlene Spritzer, Edwin Yarbrough and Whitney Rodgers of Savills Studley’s Durham office advised Nutanix in the lease negotiations. Joe Brady and Mike Mordaunt of Savills Studley’s San Jose office, who have worked with Nutanix’s headquarters office since the tech firm’s founding, collaborated with Savills Studley’s Durham team on the transaction. Wexford plans to deliver the property in January 2017.
CHESTERFIELD, VA. — S2 Capital Partners LLC has purchased Stonebridge Shopping Center, an 8.1-acre retail property located at 7000 Tim Price Way in Chesterfield, a suburb of Richmond. S2 Capital Partners purchased the center from an affiliate of Crosland Southeast, Stonebridge’s original developer, for $12 million. Berkeley Capital Advisors represented the seller in the transaction. Stonebridge was 95 percent leased at the time of sale to tenants such as Firestone, Krispy Kreme, Mattress Firm, Virginia ABC, Subway and Qdoba. The center is shadow-anchored by a 123,600-square-foot Kroger Marketplace and a Kroger Fuel Center. S2 Capital Partners plans to construct an additional 15,600 square feet of multi-tenant retail space on the site’s two pad sites, bringing the total footprint of the shopping center to 67,416 square feet.
MATTHEWS, N.C. — Romans Properties has arranged the $10.4 million sale of Matthews Lofts, an 88-unit apartment community located at 921 Park Center Drive in downtown Matthews, about 11 miles south of Charlotte. Ginkgo Residential purchased Matthews Lofts from Matthews Loft LLC. Chris Orr of Romans Properties represented the seller, and Robert Podewils of The Berrry Cos. represented Ginkgo in the transaction.
SAN ANTONIO — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Meridian, an apartment community located near Alamo Heights in San Antonio. Located at 680 E. Basse Road, the property features 146 luxury apartment units. An undisclosed buyer acquired the property for an unreleased sum. Will Balthrope, Drew Kile and Jordan Featherston of IPA represented the undisclosed seller and procured the buyer in the deal.
FORT WORTH, TEXAS — Vitorino Group has arranged the sale of a retail property located in Fort Worth. The newly constructed Presidio Retail Center sold for an undisclosed price. The three-tenant property is an outparcel to Presidio Junction, a 1 million-square-foot mixed-use development in north Fort Worth. A local Texas partnership acquired the property, which was listed for more than $600 per square foot.
BROWNSVILLE, TEXAS — Marcus & Millichap has arranged the sale of Casa Grande, a multifamily property located at 2425 Barnard Road in Brownsville. A partnership sold the 116-unit property for an undisclosed price. The buyer, a regional operator, plans to implement interior and exterior improvements at the property. Mike Moffitt Jr. of Marcus & Millichap represented the seller and secured the buyer in the deal.
ORANGE, CALIF. — HFF has arranged the sale of a 468,000-square-foot retail portion of The Village at Orange, an 850,000-square-foot retail center located at 1500 E. Village Way in Orange. An undisclosed institutional investor acquired the property, excluding Sears and JCPenney, from an institutional seller for $84.5 million. The property was 92 percent occupied at the time to sale to a variety of tenants, including Walmart, Trader Joe’s, Sprouts Farmers Market, Ross Dress for Less, Ulta, Home Goods, Party City and PetSmart. The property is currently undergoing renovations that will convert portions of the indoor regional mall into an open-air retail space. Bryan Ley, Gleb Lvovich and CJ Osbrink of HFF represented the seller in the transaction.
NEW YORK CITY — Nike Inc. has signed a 15-year lease for retail space at 650 Fifth Ave. in New York City’s Plaza District from landlord SL Green Realty Corp. and partner Jeff Sutton. The retailer will occupy 69,214 square feet, covering seven floors, which is the entire retail component of the 36-story office building. According to the New York Post, the transaction is valued at more than $700 million across the lease’s 15-year term.