HIGH POINT, N.C. — Avison Young has arranged the $6.3 million sale of Eastchester Shopping Center, a 63,306-square-foot shopping center anchored by Office Depot in High Point. The center is located at 274 Eastchester Drive. AJ Belt III and David Duckworth of Avison Young’s Fort Lauderdale, Fla., office represented the seller, MS Eastchester LLC, in the transaction. Verris Capital purchased the property. Tenants of the center include Dollar Tree, Plato’s Closet, Hooters and Dunkin’ Donuts.
SHARON, MASS. — Avison Young has brokered the sale of an industrial/flex property located at 6 Merchant St. in Sharon. Franchi Merchant Street LLP acquired the property for $2.9 million, or $97 per square foot, from Legacy Real Estate Ventures. The 30,300-square-foot property is fully leased to six tenants. Michael Smith, Scott Jamieson, Brandon Dickason and Bill Sullivan of Avison Young represented the seller in the transaction.
NEW YORK CITY — TerraCRG has arranged the sale of a development site located at 29-31 Lexington Ave. in Brooklyn’s Clinton Hill neighborhood. Tomer Erlich, a local developer, purchased the site for $2.7 million, or $315 per buildable square foot. Plans call for a four-story, 10-unit building on the site with 11,308 gross square feet. Ofer Cohen, Melissa Warren, Dan Marks, Peter Matheos, Michael Hernandez and David Algarin of TerraCRG represented the buyer and undisclosed seller in the transaction.
CROSS ROADS, TEXAS — Alex Payne with Axis Realty Group and Everett Newland with Newland Real Estate represented Denton Fireman’s pension fund in the purchase of The Village at Cross Roads, a new 24,000-square-foot, Class A retail center in Cross Roads. Northbridge Management & Consulting, a commercial property management company owned by Axis Realty Group, will manage the asset moving forward.
AUSTIN, TEXAS — Howard Michaels of Carlton Strategic Ventures and Avery Modlin of The Modlin Group have negotiated the sale of Dobie Center to Fowler Property Acquisitions LLC. Located in Austin, Dobie Center is the largest privately owned student dormitory at the University of Texas at Austin. The property consists of a 27-story glass and steel residential tower, a 90,000-square-foot retail mall and a six-story, 250,000-square-foot, above-grade parking garage. Brian Kelly of HFF was the broker on the transaction. The Carlton Group’s general counsel Daniel Bildner closed the transaction along with Larry Haber of Abrams Garfinkel Margolis Bergson LLP. Dobie Center is located next to the University of Texas at Austin campus, opposite the soon-to-be-completed 458,000-square-foot McComb’s Business School.
AUSTIN, TEXAS — Karlin Real Estate has sold a 302,604-square-foot industrial building located at 13201 McCallen Pass in north central Austin to General Motors. GM acquired the building to complement its existing Austin IT Innovation Center at 717 E. Parmer Lane. The facility is located within Sector 6, the first phase of the 400-acre master planned technology and office park being developed by Los Angeles-based Karlin and Dallas-based Trammell Crow Co. Previously occupied by Dell Inc., Sector 6 comprises three existing institutional quality industrial buildings totaling approximately 1 million square feet. All three buildings have been leased or sold. Sector 6’s Other tenants include Allergan, Brown Traffic and Marco Fine Arts. Trammell Crow is completing the first phase of new construction at PARMER, a three-story, 192,000-square-foot office building and has plans to break ground on an identical building later this year. Both buildings are designed for single- or multi-tenant occupancy, and will feature 64,000-square-foot floor plates. PARMER is currently zoned for several million square feet of office, industrial, hotel and retail uses. The development will feature a central amenity area that will include covered outdoor dining and seating areas, extensive hardscape improvements, miles of jogging/walking paths and Wi-Fi enabled social …
FRESNO, CALIF. — Retail California, a division of Pearson Realty, has brokered two retail sales totaling 69,208 square feet in Fresno. In the first transaction, Fresno Coin Gallery Jewelry and Loan Inc. acquired a 9,208-square-foot retail space at 1727 E. Gettysburg Ave. from Dean & Arlene Sigle Trust. Michael Kennedy and John Lee of Retail California negotiated the transaction. In the second deal, Ag Land Joint Venture acquired a 60,000-square-foot retail building at 4550 and 4582 N. Blackstone Ave. from Rich Development/Gryphon Capital. Lewis Smith of Retail California, along with Mark Saito of Saito Company, brokered the transaction. The acquisition prices were not released for either sale.
KNOXVILLE, TENN. — Maddox Property Management & Sales Inc. has brokered the $6.7 million sale of Century Park Building I, a 51,604-square-foot, Class A suburban office building in Knoxville. The property is located at the intersection of Interstate 40/75 and Pellissippi Parkway. Steve Maddox and Brandon Clark of Maddox Property represented the buyer and seller in the off-market transaction. The office building’s tenant roster includes University of Phoenix, New Horizons Learning Center and the Institute for Female Pelvic Medicine. Additionally, Functional Pathways LLC will soon relocate its headquarters to the top floor of Century Park. Maddox Property took over management of Century Park earlier this year and will continue to lease and manage the property moving forward.
GLENDALE, CALIF. — College Plaza, a 5,528-square-foot retail building in the Los Angeles submarket of Glendale, has sold to James Hsu for $6.3 million. The building is located at 1500 Canada Blvd. It was built in 2005. Notable tenants include Coffee Bean and Flame Broiler. The buyer was represented by Peggy Chen of Ko Tai Realty. The seller, Hovik Khatchaturian of Turian Properties, was represented by Alex Vasquez of Stevenson Real Estate Services.
MIAMI — Swire Properties Inc., in partnership with retail co-developers Whitman Family Development and Simon Property Group, has signed two new luxury retailers to join Brickell City Centre’s 500,000-square-foot shopping center. The shopping center, set to open in fall 2016, is part of the $1.05 billion, 5.4 million-square-foot Brickell City Centre master-planned development in downtown Miami. The two new retailers are Valentino, an Italian fashion retailer, and Chopard, a Swiss Watch and jewelry designer. The two new retailers will join announced tenants Saks Fifth Avenue, Quinto La Huella restaurant and rooftop bar, Sugar — located within EAST, Miami Hotel — and luxury theater Cinemex. The condominium, office and hotel components of Brickell City Centre are set to open beginning at the end of 2015.
