FRESNO, TEXAS — Hunington Properties has arranged the sale of the Teal Run Plaza, a 14,920-square-foot shopping center. The property is situated on nearly two acres located at 12125 Highway 6 South in Fresno. Rafael Melara with Hunington Properties represented the unnamed seller. Stanley Madumere with Champions Real Estate represented the buyer.
PORTSMOUTH, VA. — Growth Equity Group has acquired the Charlestowne Townhomes, a 50-unit townhome rental community located at 1590 Darren Circle in Portsmouth, part of the Hampton Roads region. The property features two- to four-bedroom units ranging from 940 to 1,254 square feet. Charlestowne Townhomes is located near Norfolk Naval Shipyard, Bon Secour’s Medical Center and the Portsmouth Marine Terminals. Growth Equity Group has also recently acquired the 32-unit Midlands Townhomes in Williamsburg, Va., and the 178-unit Timberwoods in Newport News, Va. Terms of the transaction were not disclosed.
DALLAS — Venture Commercial Real Estate has arranged four leases on behalf of DestinationXL, a big and tall men’s clothing store. The 9,059-square-foot Dallas store is located at the southeast corner of North Central Expressway and Park Lane in the Shops at Park Lane, and will represent the first urban Dallas location for the retailer. The Arlington location spans 5,970 square feet and is located at 4245 S. Cooper St. The 6,800-square-foot Midland location is located at 2810 W. Loop 250 North in The Commons at Northpark II shopping center. The Tulsa, Okla. store, also 6,800 square feet, is located at 7020 S. Memorial Drive. Venture’s John Zikos and Jonathan Cooper represented the tenant in the four transactions. Ashley O’Malley and Jack Beard of United Commercial Realty, Mihir Mody of Mody Capital LLC, Gary Andrews of GRACO Real Estate Development and Matt Mardis of Paine & Associates represented the landlords in the transactions. The Tulsa store opened in October. The Arlington location is scheduled for a February opening, Midland is scheduled to open in March and the Dallas store is slated to open in May.
OAKLAND, CALIF. — A new food market known as Water Street Market will soon debut at Jack London Square, a mixed-use waterfront development in Oakland. The new market will be developed by Steve Carlin and the Carlin Company, in partnership with Jack London Square Ventures, a joint venture between Ellis Partners and DivcoWest. The market will be located at 55 Harrison Street. Carlin has developed similar projects in the area, including Oxbow Public Market in Napa and the Ferry Building Marketplace in San Francisco. Carlin will serve as master lessor for the 32,000 square feet on the first floor. The second floor will be renovated for additional market-related uses at a later date. The building also contains 110,000 square feet of office space spread among four upper levels. Plank, a food and entertainment venue, opened this past October at Jack London Square, while Steel Rail, a locally owned café, will open this spring. The City of Oakland also recently approved plans for 665 residential units on two parcels near the Market that will help meet the city’s growing demand for urban housing. Jack London Square is Oakland’s only publicly accessible mixed-use waterfront area. It has been a landmark along a …
NEW YORK CITY — Ariel Property Advisors has brokered two sales in Queens totaling $4.8 million. In the first transaction, the firm negotiated the sale of a development site with approved plans, located at 14-23 Broadway in Astoria, for $1.95 million. The 25-foot by 136-foot vacant lot is zoned for 13,620 buildable square feet of mixed-use or residential development. Daniel Wechsler, Michael Tortorici, Howard Raber, Marko Agbaba and Victor Sozio of Ariel Properties represented the seller and procured the buyer, both real estate investment groups, in the transaction. In the second deal, a retail site at 175-42 Hillside Ave in Jamaica sold for $2.85 million. The 100-foot by 100-foot lot includes a 2,054-square-foot building that is leased to KFC Corp. on a triple-net lease basis. Additionally, the site offers a total of 40,000 buildable square feet for future development. Tortorici, Wechsler, Agbaba and Sozio represented the seller, a real estate investment firm, and procured the buyer, a private investor, in the transaction.
PHILADELPHIA — NAI Mertz has arranged the sale of an industrial facility, located at 2729 E. Butler St. in Philadelphia. Crown Poultry purchased the 11,800-square-foot facility from KTKS LLC for an undisclosed price. The property is outfitted for food manufacturing and distribution, complete with refrigerated cooler and freezer spaces. The property features 12- to 24-foot clear ceiling heights, a small office area, three tailgate truck doors with dock levelers and one drive-in door. The buyer plans to use the facility for food manufacturing and distribution. Jeffery Licht and Adam Lashner of NAI Mertz represented the seller in the transaction.
QUINCY, MASS. — Massachusetts Teachers Association (MTA) has signed a long-term lease for office space at Heritage Landing in Quincy. MTA will utilize the top two floors, totaling 46,000 square feet, as its new headquarters. The space is being designed to meet the needs of MTA. Project partners include Spagnolo Gisness & Associates Inc. and WB Engineers Consultants. MTA is slated to take occupancy of the space in November. Sean Lynch of JLL represented the tenant in the deal. Peter Brown of Campanelli along with Mike Frisoli, Matthew Morgan, Dave Martel and Molly Davis of Cushman & Wakefield represented the owner, Campanelli, in the transaction. Additional terms of the transaction were not released.
COLUMBIA AND GREENVILLE, S.C. — Berkadia has brokered the sale of two multifamily communities in Columbia and Greenville totaling $7.3 million. The transactions include the $5.5 million sale of the 152-unit Shandon Crossing in Columbia and the $1.8 million sale of the 37-unit Hampton Harbor in Greenville. Warrendale, Pa.-based DBC Shandon Crossing LP purchased Shandon Crossing from Atlanta-based Varden Capital Properties LLC. Mark Boyce, Andrew Mays and Paul Vetter of Berkadia brokered both transactions.
LINTHICUM, MD. — DTZ has brokered the $6.5 million sale of a Class A office building located at 999 Corporate Blvd. within the Airport Square Business Park in Linthicum, a city in the Baltimore-Washington Corridor. Heritage Properties purchased the 67,384-square-foot property from LNR Partners LLC. Jonathan Carpenter, Nicole Keelty and Graham Savage of DTZ’s capital markets team in Baltimore represented LNR in the transaction.
LOS ANGELES – A 40,738-square-foot building in the Los Angeles submarket of La Mirada that is leased to 24 Hour Fitness has sold to a local private investor for $13.9 million. The building is located at 13395 Beach Blvd. It is occupied by a 24 Hour Fitness Sport facility. The space was built in 2002. It is the anchor tenant in a shopping center that also contains CVS, Jack in the Box, Max Muscle and Electric Tan. The gym has eight years remaining on its double-net lease. The buyer is expected to hold the asset long term for passive income. It also assumed existing CMBS debt that was in place at the property. The unnamed seller was represented by Ryan Barr and Ryan Bennett of Lee & Associates – North San Diego County.
