MURPHY, TEXAS — Phillips Edison Grocery Center REIT I Inc., a non-traded retail REIT, has acquired Murphy Marketplace, a 218,598-square-foot, Sprouts-anchored shopping center located in Murphy, a suburb 25 miles northeast of Dallas. The center is home to tenants including Michaels, 24 Hour Fitness, Tuesday Morning, T-Mobile, Chick-fil-A, Einstein Bros. Bagels, Chipotle Mexican Grill, Firehouse Subs and Dunkin’ Donuts. As of June 29, Phillips Edison Grocery Center REIT I owns and manages a retail portfolio consisting of 149 shopping centers totaling approximately 15.9 million square feet.
TEXARKANA, TEXAS — Cushman & Wakefield’s Self Storage Practice Group in San Diego has brokered the sale of New Boston Storage, a newly constructed, 50,100-square-foot self storage facility in Texarkana. Greg Wells and Jim Lewis of Cushman & Wakefield represented the seller, the original developer of the property. A regional operator that owns several stores in the Texarkana area purchased the property for an undisclosed price.
WALLINGFORD, CONN. — O,R&L Commercial has arranged the sale of Tower Square Plaza, located at 600 N. Colony Road in Wallingford. JMM Associates acquired the 22,160-square-foot retail center from 600 North Colony Road Associates for $2.1 million. The property is occupied by Enterprise Rent-a-car, Panda Garden, Domino’s, Brew and Steak Kings, and other retail tenants. Phil Marshall and Frank Hird of O,R&L Commercial represented the seller and buyer in the transaction.
HAMILTON TOWNSHIP AND FAIRVIEW TOWNSHIP, PA. — Bennett Williams Commercial has brokered two retail transactions in Pennsylvania totaling $2.88 million. In the first deal, Bhamidi Holdings has acquired a retail building located at 3170 Carlisle Pike in Hamilton Township. New Oxford DPP IX sold the 10,542-square-foot property for $1.58 million. Adam Hagerman, Brad Rohrbaugh and Chad Stine of Bennett Williams Commercial represented the buyer in the deal. In the second transaction, Goldstone I purchased an 8,446-square-foot retail building located at 99 Lewisberry Road in Fairview Township. Pavilion Development Group sold the property for $1.3 million. Hagerman, Rohrbaugh and Stine represented the seller in the transaction.
TAMPA, FLA. — The RADCO Cos. has purchased The Newport Villas Apartments, a 372-unit, Class B apartment community in Tampa, for $20.1 million. RADCO Residential will manage the property, which was built in 1984 and will be rebranded as Mabry Manor. The Atlanta-based multifamily investment firm plans to invest $5.2 million in capital improvements to the property, including repairing and replacing the fascia and siding, renovating the leasing and fitness centers, rebuilding the floating dock and wooden boardwalk surrounding the lake and building a new playground. RADCO financed the acquisition and renovations using private capital and financing from Prudential Financial.
ORLANDO, FLA. — Lincoln Property Co. has signed FAIRWINDS Credit Union to a 40,000-square-foot anchor lease at Tremont Plaza in downtown Orlando. Currently under construction, the 28-story tower will be situated at the corner of Garland Avenue and South Street and feature retail, restaurant and banking space in the lobby. The project will also feature a 10-level parking deck, seven levels of office space and an eight-story, 180-room AC Hotel by Marriott. Tremont Plaza will also include a new Sunrail platform for Church Street Station inside the building. The station will offer future access to Orlando International Airport and connectivity to Miami via All-Aboard Florida’s high-speed train. FAIRWINDS is an Orlando-based financial institution with $2 billion in assets. Nan McCormick of CBRE represented FAIRWINDS in the lease transaction.
ENFIELD, CONN. — CBRE has arranged the sale of an industrial facility located at 25 Bacon Road in Enfield. WE 25 Bacon Road LLC acquired the 1 million-square-foot facility for $12.5 million. Situated on 348 acres, the property was formerly a Hallmark distribution center. Christopher Metcalfe and John Reed of CBRE represented the undisclosed seller in the transaction. An earlier version of this story incorrectly reported that Sentry Commercial brokered the transaction.
HOUSTON — NewQuest Properties has arranged more than 23,000 square feet of retail leases in greater Houston. In the first transaction, Daiso has leased 9,675 square feet of retail space in the Market at Westchase, located at Westheimer at Wilcrest in Houston, from Weingarten Realty Investors. Heather Nguyen and John Nguyen of NewQuest Properties represented the tenant. John Wise of Weingarten Realty Investors represented the landlord. In the second transaction, King’s Biergarten LLC has leased 6,090 square feet of retail space at 2036 E. TC Jester in Houston from 2036 TC Jester LLC. Ashley Williams and Chris Dray of NewQuest Properties represented the landlord. Hugh Ruggles and Mac Ruggles of NewQuest Properties represented the tenant. In the third deal, Sherwin Williams has leased 4,072 square feet of retail space at 14106 Mueschke Road in Cypress from Arbed Mueschke LP. Ashley Williams and David Meyers of NewQuest Properties represented the landlord. Tami Pearson of Waterman Steele Group represented the tenant. In the fourth transaction, Shogun Japanese Grill & Sushi Bar has leased 4,002 square feet of retail space at the intersection of Texas 146 and Interstate 10 in Baytown from NewQuest Properties. Brad Elmore of NewQuest Properties represented the landlord. Bob Conwell …
NEW YORK CITY — Fox Hill Partners LLC has completed the disposition of apartment buildings located at 141 Park Hill Ave. and 320 and 350 Vanderbilt Ave. in Staten Island. Fox Hill Housing LLC acquired the properties for $52 million. Janice Mac Avoy, Stephanie Spell, Michael Hofer and Benjamin Cohen of Fried Frank served as counsel to the seller in the deal.
AVON, MASS. — Newmark Grubb Knight Frank (NGKF) has arranged the sale of an office and distribution warehouse facility located at 80 Stockwell Drive in Avon. Hilco Real Estate, a unit of Hilco Global, sold the 241,454-square-foot property for $9.55 million. Situated on 12.7 acres, the property features 35,840 square feet of office space and 205,614 square feet of warehouse space. Additionally, the property features two presentation rooms, private offices, 22-foot ceilings, 17 dock doors and an open floor plate. Peter Whoriskey and Michael Frisoli of NGKF represented the seller, while Joel Miller of Permanser represented the undisclosed buyer in the transaction.