more_sales_and_leases

NAI Miami Negotiates NightLife Brewing’s Lease at Shops of Marlins Park in Miami

by John Nelson July 21, 2016

MIAMI — NAI Miami has arranged a 10-year, 11,300-square-foot retail lease at Shops of Marlins Park in Miami for a new brewery. NightLife Brewing Co. will open its new microbrewery facing the main pavilion of Marlins Park in the Home Plate parking garage known as P1 at Marlin’s Park, located at 1588 N.W. 7th St. The Shops of Marlins Park spans 57,501 square feet of office and retail space situated in three of the four parking garages of Marlins Park, home of the Miami Marlins baseball team. With the NightLife Brewing lease, occupancy at the Shops of Marlins Park is at 61 percent. Jeremy Larkin and Joseph Gallaher of NAI Miami represented the landlord, the city of Miami, in the lease transaction, which was valued at $2.6 million. The lease marks the first brewery approved in a retail zoning for the city of Miami.

July 21, 2016

California Retail Western

Regency Acquires Klahanie Shopping Center in Metro Seattle for $36M

by Nellie Day July 20, 2016

ISSAQUAH, WASH. — Regency Centers Corp. has acquired Klahanie Shopping Center, a grocery-anchored shopping center located in the Seattle suburb of Issaquah, for $36 million. A 40,000-square-foot Quality Food Centers (QFC) anchors the property. Tenants at the center include Starbucks Coffee, Great Clips, Wells Fargo and Subway.

July 20, 2016

California Retail Western

Irvine Co. Adds Seven Tenants to Santa Clara Square Marketplace in Silicon Valley

by Nellie Day July 20, 2016

SANTA CLARA, CALIF. — Irvine Co. Retail Properties has added seven new tenants to Santa Clara Square Marketplace, a 125,000-square-foot shopping center located in Silicon Valley. New additions include Sur La Table, Lula’s Chocolates, Specialty’s Café & Bakery, Opa!, CorePower Yoga, Books Inc. and COMEBUY Drinks. Sur La Table and Lula’s Chocolates are set to open this summer, with the rest of the new retailers opening later this year. The shopping center is located within the 100-acre, master-planned community of Santa Clara Square.

July 20, 2016

Hospitality Texas

Intergroup Realty, MJ Rome Broker Sale of Las Colinas Hyatt Place

by Haisten Willis July 20, 2016

IRVING, TEXAS — Tandy Lofland of Intergroup Realty and Mark Rome of MJ Rome represented the seller in the recent sale of the Hyatt Place Dallas/Las Colinas in Irving. The 122-room hotel is located in the 12,000-acre Las Colinas mixed-use development, one of the largest master-planned communities in the country. An affiliate of Summit Hotel Properties sold the hotel to a private investment group from the Dallas area. The hotel will undergo upgrades and improvements and will continue to operate as a Hyatt Place franchise.

July 20, 2016

Multifamily Texas

ARA Newmark Secures Sale of Apartment Community in Austin

by Haisten Willis July 20, 2016

AUSTIN, TEXAS — ARA Newmark has secured the sale of Broadstone 8 One Hundred, a 376-unit multifamily community in northwest Austin. The complex is located near Apple’s planned expansion of its 39-acre corporate campus, as well as local hubs for eBay, PayPal, Google, Visa and 3M. San Francisco-based Jackson Square Properties was the buyer. Pat Jones of ARA Newmark represented the seller, Alliance Residential. Constructed in 2015, Broadstone 8 One Hundred is a Class A community situated on 17 acres. The property offers a pool with lounge seating and a tanning ledge, outdoor kitchen with gas grills, bocce ball court and a hammock green. The clubhouse includes viewing/entertainment spaces, a social lounge with a beverage bar and an athletic center. Unit interiors feature 10-foot ceilings and hardwood floors.

July 20, 2016

Multifamily Texas

M&M Arranges Sale of 175-Unit Apartment Building in Metro Dallas

by Haisten Willis July 20, 2016

HURST, TEXAS — Marcus & Millichap has arranged the sale of The Gables of Notting Hill, a 175-unit apartment property located in Hurst. Al Silva and Ford Braly of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a Houston-based private investment firm. Silva and Braly also secured the buyer, a Dallas-based investment group. The property was built in 1968 and consists of 27 buildings with one-, two- and three-bedroom floor plans.

July 20, 2016

Retail Texas

NAI Robert Lynn Brokers Sale of Auto Dealership in Plano

by Haisten Willis July 20, 2016

PLANO, TEXAS — The NAI Robert Lynn industrial division has represented Autos of Dallas in the purchase of the 55,000-square-foot Ex-Ewing Buick GMC Dealership in Plano, which will allow the auto dealer to nearly double its inventory to 1,000 vehicles. The new dealership will make Autos of Dallas the largest independent auto dealer in metro Dallas. NAI Robert Lynn’s Chad Albert represented Autos of Dallas in the transaction. Autos of Dallas will move from its current location in Addison, previously known as the Addison Square Garden Ice Rink, to its new headquarters on eight acres at 4472 Plano Parkway.

July 20, 2016

Restaurant Retail Texas

Flaming Grill & Supreme Buffet to Open in Metro Houston

by Haisten Willis July 20, 2016

JACINTO CITY, TEXAS — Flaming Grill & Supreme Buffet has leased the remaining space in the 217,004-square-foot Market at Hunting Bayou as its first location in metro Houston. The restaurant chain is planning to invest $2 million into the interior of a 21,164-square-foot space in the retail center, located at 11900 E. Freeway in Jacinto City. Construction on the junior anchor space is expected to take five months. The chain has restaurants in New Jersey, New York, Pennsylvania and South Carolina. The daily menu features more than 250 items of American, Italian, Japanese and Mexican dishes alongside traditional Chinese cuisine. Flaming Grill’s lease will bring Market at Hunting Bayou to 100 percent occupancy. Brad Elmore of Houston-based NewQuest Properties represented the landlord, JBL Asset Management of Miami, in the transaction. Drew Huggins of Huggins Realty Group represented the restaurateur, which also has a location in Dallas.

July 20, 2016

Midwest Mixed-Use Wisconsin

Siegel-Gallagher Brokers Sale of 2,382 SF Mixed-Use Building in Waukesha, Wisconsin

by Christina Cannon July 20, 2016

WAUKESHA, WIS. — Siegel-Gallagher has brokered the sale of a 2,382-square-foot mixed-use property for an undisclosed price. Sania Investments LLC purchased the property from Sunset Bank & Savings. The building, located at 1710 Paramount Drive in Waukesha, approximately 20 miles west of Milwaukee, includes office and retail space. Shaun Dempsey and Devin Tessmer of Siegel-Gallagher brokered the transaction.

July 20, 2016

Michigan Midwest Office

L. Mason Capitani Negotiates Office Lease at Liberty Professional Center in Metro Detroit

by Christina Cannon July 20, 2016

STERLING HEIGHTS, MICH. — L. Mason Capitani CORFAC International has arranged a seven-year office lease in Sterling Heights, approximately 25 miles north of Detroit, for CoreSource, a third-party administrator of employee benefits programs. CoreSource will occupy space at the 24,700-square-foot Liberty Professional Center, located at 35601 Mound Road. Al Iafrate of L. Mason Capitani represented the landlord in the transaction.

July 20, 2016

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