SPRING, TEXAS — Hunington Properties Inc. (HPI) has brokered the sale of Postwood Shopping Center, a 42,232-square-foot retail center located at 5639 Treaschwig Road in the northern Houston metro of Spring. The property, which is shadow-anchored by Kroger, was built in 1985 and renovated in 2009. Current tenants include Chase Bank, State Farm Insurance, Boost Mobile and Anytime Fitness. Rafael Melara of HPI represented the seller in the transaction. Gary Smith of RCR Realty represented the buyer, a local investor.
WILKES-BARRE, PA. — HREC Investment Advisors has arranged the sale of the Courtyard by Marriott located at 879 Schechter Drive in Wilkes-Barre. Kingston Hotel Partners sold the 106-room hotel for an undisclosed price. Ketan Patel, Mark von Dwingelo and Mark Rousseau of HREC represented the seller in the deal. The name of the buyer was not released.
BRIDGEWATER, N.J. — Avison Young has arranged the sale of an industrial property located at 460 Milltown Road in Bridgewater. FCI Properties sold the 46,000-square-foot building for an undisclosed price. The column-free facility was originally built for and used as an indoor tennis club. The undisclosed buyer intends to repurpose the space into a new and strategic high-level training center that will include soccer fields and other training facilities for its existing base and new young athletes. Matthew Turse, Timothy Cadigan and John Recchia of Avison Young represented the seller in the deal. The name of the buyer was not released.
NEW YORK CITY — Omnicom Group has signed a 10-year lease extension for its 200,000-square-foot space at 200 Varick St. in the Hudson Square neighborhood of New York City. Constructed in 1926, the 12-story building features 410,000 square feet of space, with Omnicom occupying seven floors of the property. Jeffrey Gural, Eric Gural and Donna Vogel provided in-house representation for the landlord, GFP Real Estate, while Lee Feld of Feld Real Estate LLC represented the tenant in the lease transaction.
SHELBURNE, VT. — Nedde Real Estate has arranged the sale of a commercial building located at 2613 Shelburne Road in Shelburne. Premier Strength & Performance, a personal fitness and conditioning gym, purchased the building from LWV Properties for an undisclosed price. The buyer has opened a fitness center at the 3,564-square-foot building. Fernando Cresta of Nedde Real Estate brokered the deal.
TEMPE, ARIZ. — A joint venture between Transwestern Investment Group (TIG) and JDM Partners has acquired a 2 million-square-foot office property in Tempe in a sale-leaseback with State Farm Automobile Insurance. The Class A campus, called Marina Heights, is located at 300-600 Rio Salado Parkway. The price was not disclosed. The five-building campus includes ground-floor retail, restaurants and other amenities. It is situated between Arizona State University and Tempe Town Lake. Marina Heights will be a future stop for the Tempe Streetcar, directly connecting the campus to the airport, downtown and central Phoenix, as well as west Mesa via the Valley Metro Light Rail. A wholly owned subsidiary of TIG will manage the investments. Transwestern will also provide management services. The firm’s legal adviser was King & Spalding, while Eastdil Secured was the debt capital adviser.
BOLINGBROOK, ELK GROVE VILLAGE AND MCHENRY, ILL. — CBRE has arranged three industrial leases totaling 1.3 million square feet for separate tenants in the Chicago area. Brake Parts Inc. signed an eight-year extension for 378,350 square feet at 1100 Corporate Drive and 228,000 square feet at 4400 Prime Parkway in McHenry. The company is a manufacturer and supplier of brake parts. Greencore, a London-based international producer of convenience foods, inked a five-year extension for 443,010 square feet at 1100 Remington Blvd. in Bolingbrook. In the final lease transaction, St. George Logistics signed a five-year renewal for 268,645 square feet at 875 Devon Ave. in Elk Grove Village. The company is a provider of ocean and air container freight stations, distribution, transportation and value-added services in North America. Matt Mulvihill, Kevin Segerson, Cal Payne and Philip DeBoer of CBRE represented the tenants in each lease transaction.
DACULA, GA. — Phillips Edison & Co. has acquired Mountain Crossing, a 96,606-square-foot shopping center in Dacula, 38 miles northeast of Atlanta in Gwinnett County, for $13.9 million. The name of the seller was not disclosed. Kroger anchors the center, which is also home to a UPS Store, Great Clips, Allstate Insurance and Chevron. Cincinnati-based Phillips Edison manages a portfolio of more than 345 shopping centers — 236 of which it owns directly — located in 32 states.
BRIDGEVIEW, ILL. — NAI Hiffman has brokered the sale of a 161,740-square-foot industrial building in Bridgeview, about 13 miles southwest of Chicago. The sales price was not disclosed. The property is situated along I-294 at 7400-7420 Richards Road. The building features 18 exterior docks, one drive-in door, 24-foot clear heights and parking for 60 cars. Chris Gary and Jay Maher of NAI Hiffman represented the seller, Transwestern Investment Group. Adam Haefner of Darwin Realty & Development Corp. represented the buyer, Rex Carton Co., a manufacturer of corrugated boxes and custom shipping containers.
HOUSTON — NAI Partners has brokered the sale of a three-building, 48,300-square-foot industrial portfolio located at 18155 Chisholm Trail in north Houston. The three buildings, which total 21,000, 14,500 and 12,800 square feet, are located on the former campus of oil and gas firm Weatherford International. John Ferruzzo and Nick Peterson of NAI Partners represented the buyer, Marston Acquisition Co. LLC, in the transaction.