DANIEL ISLAND, S.C. — Crossman & Co. has brokered the sale of Daniel Island Town Center, a Publix-anchored, 68,688-square-foot shopping center located on Seven Farms Drive in Daniel Island in metro Charleston. The property was 98 percent occupied at the time of sale. Publix Super Markets Inc. purchased the shopping center from an unnamed institutional group based in the Northeast for nearly $14 million.
LEAGUE CITY, TEXAS — 29th Street Capital (29SC), a privately held real estate investment and advisory firm, has acquired a 314-unit multifamily real estate portfolio in League City. The two apartment communities are located within 1.5 miles of each other in the Clear Lake submarket of Houston. The deal closed Feb. 19 and includes: Crow’s Nest Apartments, a 176-unit complex built in 1984 with mostly one- and two-bedroom units; Harbor Walk Apartments, a 138-unit complex built in 1987 and made exclusively of two- and three-bedroom units. 29SC purchased the assets on an off-market basis from a regional owner. The firm plans $1.6 million worth of renovations, which include a new appliance package, microwaves, better kitchen lights and accent walls. Exterior improvements are planned as well.
BRYAN, TEXAS — Oldham Goodwin Group, in conjunction with Cresa Boston, has represented Wayfair Inc. in the lease of a new 51,185-square-foot customer service center located at 3101 University Drive E. in Bryan. Wayfair has one of the world’s largest online selections of furniture, home furnishings, décor and goods, including more than 7 million products from over 7,000 suppliers. The low-rise office building will serve as the location for Wayfair’s new Bryan/College Station customer service center. The Bryan/College Station customer service center is expected to bring 450 jobs to the Research Valley area and is scheduled to open in Spring 2016. Jody Slaughter of Oldham Goodwin Group, along with David Ross, Matt Harvey and Tim Myllykangas of Cresa Boston, represented Wayfair in lease negotiations.
EULESS, TEXAS — Cinépolis USA has signed a lease for 52,000 square feet in the second phase of Glade Park, a new power retail project located at the southwest corner of SH-121 and Glade Road in Euless. Blake Shipp of The Weitzman Group handled negotiations for Cinépolis USA as the theater chain’s tenant representative in metro Dallas. Neil Baron represented the cinema chain as its in-house representative. Cinépolis USA will develop a multi-screen cinema at Glade Park that will feature automated recliners, a bar and gourmet snacks. The location is set to open in summer 2017.
NEW YORK CITY — Treetop Development has acquired a development site located at 121-129 E. 144th St. in the Mott Haven section of the Bronx for an undisclosed sum. Situated in a special mixed-use district zoning area (MX-13), the property has 68,326 buildable square feet as-of-right, with the option to develop up to 91,000 square feet by utilizing the inclusionary housing bonus. Treetop, a multifamily owner and investor focused on renovating and developing market-rate properties in New York City, is in the process of determining the best use for the site. Jason Gold, Victor Sozio, Scot Hirschfield, Marko Agbaba and Michael Tortorici of Ariel Property Advisors represented the undisclosed seller and procured the buyer in the transaction.
HOLMDEL, N.J. — Vonage, a provider of cloud communications services, has renewed its lease through 2023 for 23 Main St. in Holmdel. The 350,000-square-foot building has been the company’s corporate headquarters and home to more than 700 Vonage employees since 2005. Owned by Mack-Cali Realty Corp., the property offers abundant parking, direct access to Route 34 and convenience to the Garden State Parkway. Christopher DeLorenzo of Mack-Cali handled the renewal for the owner, while Vonage was represented by Cushman & Wakefield.
NEW YORK CITY — Westbridge Realty Group has arranged four sales in New York City totaling $8.5 million. In the first transaction, Baycrest Management acquired a multifamily property with 27 apartments and one retail unit from Emritas Realty LLC for $3.9 million. The building is located at 633 E. 186th St. in the Belmont section of the Bronx. Steven Westreich represented the buyer and seller in the deal. In the second transaction, 2 Stanwix LLC purchased a 3,510-square-foot mixed-use property located at 2 Stanwic St. in Brooklyn’s Bushwick neighborhood for $2 million, or $570 per square foot. Adam Traub of Westbridge represented the buyer, while Hen Vaknim, also of Westbridge, represented the seller, 2S, in the transaction. In the third deal, East Williamsburg Powers LLC acquired a 3,750-square-foot apartment building, located at 280 Powers St. in Brooklyn’s Williamsburg section, for $1.4 million. Westreich represented the buyer, while Traub represented the undisclosed seller. In the final transaction, Westreich represented the buyer and seller in the $1.2 million exchange of 345 Montgomery Street in Brooklyn. The assets, which include eight unsold coop rent-stabilized units, sold for $158 per square foot. The names of the buyer and seller were not released.
PORTLAND, ORE. — Berkshire Group has purchased the 63-unit Lower Burnside Lofts in Portland for $18.5 million. The community is located at 60 SE 10th Ave., within the Lower Burnside neighborhood. Lower Burnside Lofts was built last year and began leasing in July 2015. Robert Black of ARA Newmark represented the seller, Urban Asset Advisors, in this transaction.
SEATTLE — Data storage systems provider Qumulo has expanded to 75,000 square feet of space at Century Square in downtown Seattle. The space is located at 1501 4th Ave., between the South Lake Union and the financial district. Laura Ford and David Abbott of Colliers International represented the landlord.
SLIDELL, LA. — Stirling Properties and CBL & Associates Properties Inc. have added four new retailers to Phase II of Fremaux Town Center, a regional shopping and entertainment destination totaling more than 630,000 square feet in Slidell, a suburb of New Orleans. The project is located on more than 80 acres at the southwest corner of I-10 and Fremaux Avenue. The new tenants joining Fremaux this spring include Books-A-Million (7,500 square feet), Allure Nail Spa (1,944 square feet), LensCrafters (3,830 square feet) and 5 Below (8,024 square feet). Additionally, Springs at Fremaux Town Center, a 296-unit apartment complex, is expected to deliver in March. Other previously announced tenants joining this year include Pier 1 Imports, Capital One, Aveda, Goodyear and Chico’s. Tesla Motors has also completed installing eight charging stations at the development. Existing tenants of Phase II include Red Robin, Zales, Francesca’s, Off Broadway Shoe Warehouse, Victoria’s Secret, Buckle, Charlotte Russe, LOFT, Bath & Body Works, Journeys, Claire’s and Which Wich.
