GREENSBORO, N.C. — Joubran Commercial Properties (JCP) has brokered the $2.6 million sale of a 2.4-acre parking lot and 5,500-square-foot restaurant building in downtown Greensboro. JJ Joubran of JCP represented the Atlanta-based buyer, Buckhead Investments LLC, in the transaction. Rich Mossman of CBRE | Triad represented the seller.
VALRICO, FLA. — Marcus & Millichap has arranged the $5 million sale of River Hills Plaza, a 34,500-square-foot shopping center located at 4325 Lynx Paw Trail in Valrico, a suburb of Tampa. Built in 2004, the property was 93 percent leased at the time of sale. James Medefind and Armando Rodriguez of Marcus & Millichap’s Tampa office represented the seller, a private investor, in the transaction. The buyer was a private investor from Canada.
VACAVILLE, LINCOLN, IRVINE AND WEST ROSEVILLE, CALIF. — Citivest Realty Services Newport Beach has arranged four leases for retail spaces totaling 7,546 square feet in California. Beach Hut Deli, a gourmet sandwich deli has signed a 10-year lease for 2,147 square feet within Vacaville Commons in Vacaville from R/M Vacaville Ltd.; a 10-year lease for 1,999 square feet at Lincoln Gateway in Lincoln from Lincoln Gateway Ventures; and a five-year lease for 1,600 square feet at Woodcreek Plaza in West Roseville from Woodcreek Plaza. Jim Donnell of Citivest Realty Services Newport Beach represented the tenant in each transaction, while Rick Martinez of CBRE Sacramento represented R/M Vacaville. Robb Osborne of TRI Commercial represented Lincoln Gateway Ventures and Scott Carruth of CBRE Sacramento represented Woodcreek Plaza in the transactions. Additionally, Images Luxury Nail Lounge inked a five-year lease for 1,800 square feet of retail space within Woodbury Town Center in Irvine. Donnell of Citivest represented the tenant, while Erin Drapkowski provided in-house representation for the landlord, The Irvine Company.
LAKEWOOD, OHIO — Phillips Edison Grocery Center REIT II Inc. has acquired Lakewood City Center, a 67,280-square-foot shopping center located in the Cleveland suburb of Lakewood, for an undisclosed price. A 39,400-square-foot Marc’s grocery store anchors the center, which is also home to tenants such as Gamestop, Best Cuts, Pet Supplies Plus, the UPS Store, Boston Market, Marco’s Pizza, Ace Cash Express, T-Mobile, Palm Beach Tan and Chipotle Mexican Grill.
CORONA, CALIF. — The Shops at Dos Lagos are welcoming two new retailers to the retail center located at 2780 Cabot Drive in Corona. Creative Souls Art Lounge is opening a 2,800-square-foot location at the property. The art lounge will bring its paint-and-sip concept to the area, as well as space for private parties. Additionally, Stone Church Brewery is joining the tenant roster at The Shops at Dos Lagos with a 2,483-square-foot location with up to 12 beers on tap. Creative Souls Art Lounge is hosting its grand opening on April 7, and Stone Church Brewery is celebrating its grand opening on April 23.
NATICK, MASS. — New Dover Associates has arranged the sale of an office/research and development building located at 2-4 Mercer Road in Natick. Nivek Investments I LLC sold the property to 2-4 Mercer Road LLC for $3.9 million. Situated on 1.4 acres with Natick Business Park, the fully air-conditioned building comprises 17,875 square feet. Scott Hughes of New Dover Associates represented the seller and procured the buyer in the transaction.
NEWTOWN, CONN. — Goodfellow Real Estate has brokered the sale of Highland Plaza, a retail center located at 123 S. Main St. in Newtown. Newtown Highland LLC acquired the property from Highland HC LLC for $3.7 million. The property features three retail buildings. Bob Cascella of Goodfellow Real Estate represented both parties in the transaction.
HOUSTON — GSL Capital Management LLC has signed a new lease at 2200 Lauder Road in Houston. The 100,000-square-foot lease is for a crane-served manufacturing facility on 14.7 acres. Clay Pritchett of NAI Partners represented the landlord, GSL Capital Management LLC. Carlton Anderson of CBRE represented the tenant.
STERLING, VA. — Gramercy Property Trust, an office and industrial REIT, has closed on the $145.5 million sale of Pacific Corporate Park, a four-building office campus in Sterling. The New York-based REIT’s disposition strategy has led to the firm selling approximately $646.3 million of single- and multi-tenant office assets since the plan was announced in 2015. In December 2015, Gramercy finalized its merger with Chambers Street Properties, creating an office and industrial REIT with an enterprise value of $6 billion.
MAUMELLE, ARK. — Dominium, an apartment development and management firm based in Minneapolis, has purchased The Gables of Maumelle, a 120-unit apartment community located in the Little Rock metro area. Built in 2001, The Gables is Dominium’s first acquisition in Arkansas. Dominium will upgrade the property’s clubhouse and pool with new furniture, artwork, painting and a new fully equipped fitness room. All units will receive washers and dryers, and select units will receive new flooring, appliances and other improvements. The property will also receive updated signage, major landscaping and new lighting. The sales price and seller were not disclosed.