sales_and_leases

The Shopping Center Group Unveils Retail Tenants for $53M Adaptive Reuse Project in Charlotte

by Camren Skelton September 28, 2017

CHARLOTTE, N.C. — The Shopping Center Group has unveiled the tenant lineup for the retail portion of One305 Central, a $53 million adaptive reuse development located approximately one mile northeast of Charlotte’s Uptown district. The developer, TriBridge Residential, has selected The Shopping Center Group to be the exclusive leasing representative for the retail portion of the project. The new tenants include: Yafo Kitchen, a fast-casual Mediterranean restaurant that will occupy 3,500 square feet; TRUE Crafted Hospitality Group, a fast-casual concept that will occupy 4,200 square feet and feature traditional diner fare; and Pilot Brewing Co., a local nano-brewery specializing in small-batch, experimental beer. Pilot Brewing’s nearly 1,900-square-foot space will include a tasting room. The retailers are expected to open next spring. In addition to retail, One305 Central includes 281 residential units. The first phase of the residential portion is 95 percent preleased and 85 percent occupied, and the second phase is slated for completion in October. The commercial building was originally built in the 1960s and 70s. Hood Architecture designed the updated commercial space, and Roper Construction served as the general contractor. TriBridge originally acquired the five-acre site in 2014 for $7.8 million.

September 28, 2017

Florida Industrial Southeast

JLL Brokers $22.5M Sale of Industrial Portfolio in Tampa

by Camren Skelton September 28, 2017

TAMPA, FLA. — JLL has brokered the $22.5 million sale of a 334,279-square-foot industrial portfolio located at 5802-5912 Breckenridge Parkway within Breckenridge Park in Tampa. John Dunphy, Ryan Vaught and Robyn Hurrell of JLL represented the seller, Triangle Capital Group, in the transaction. MLG Capital acquired the asset. The 51-acre Breckenridge Park is located at the intersection of Highway 301 and Interstate 4 and is home to tenants including Swagelok, Rosetta Technologies and Audio Fidelity Holdings. The property features a garden, ample parking, on-site property management and grade-level and dock-high loading options.

September 28, 2017

California Retail Top Stories Western

Westfield to Open $1B Westfield Century City Redevelopment in Los Angeles on Tuesday

by John Nelson September 28, 2017

LOS ANGELES — Westfield Corp., a mixed-use developer based in Sydney, Australia, is opening its $1 billion redevelopment of Westfield Century City mall in the Century City district of Los Angeles on Tuesday, Oct. 3. Westfield expects the open-air development to have the majority of its more than 200 shops and restaurants open for the event, including a new three-level Nordstrom. The 1.3 million-square-foot development will also feature a remodeled, three-level Bloomingdale’s, a new two-level Macy’s and an Equinox fitness club and spa. The center’s new and existing dining options include Bibigo, California Pizza Kitchen, Chick-fil-A, Chipotle, Everytable, Lifehouse Tonics + Elixirs, Panda Express, Randy’s Donuts, See’s Candies, Shake Shack, Wexler’s Deli and the West Coast’s first Eataly, an Italian market concept that will open later in the month. Eataly will feature multiple restaurants, food and beverage counters, retail items and cooking classes. In addition to the department store anchors and existing AMC movie theater, new and existing retailers include Apple Store, Banana Republic, Disney Store, J. Crew, Kate Spade New York, Madewell, Microsoft, SUITSUPPLY, Tory Burch and Warby Parker. Westfield’s in-house design studio worked with Los Angeles-based designer Kelly Wearstler to redesign the project’s outdoor plazas, landscaped terraces and …

September 28, 2017

California Industrial Western

National Distribution Centers Leases 864,000 SF at Perris Distribution Center

by Nellie Day September 27, 2017

PERRIS, CALIF. — National Distribution Centers has leased an 864,000-square-foot industrial facility within the Perris Distribution Center. The cross-dock distribution facility is situated on 43.2 acres within the Perris Valley Commerce Center in Perris. The center is bordered by Nance and Markham streets, as well as by Webster and Indian avenues. It is slated for completion in early October. Perris Distribution Center will feature energy-efficient LED lighting, solar panels and electric vehicle charging stations. Cushman & Wakefield represented National Distribution Centers, while NKF’s Mark Kegans and Ron and Dean Washle represented the owner and developer, Industrial Property Trust, in this transaction.

September 27, 2017

Multifamily Texas

Marcus & Millichap Brokers Sale of 980-Unit Multifamily Portfolio in Metro Houston

by Taylor Williams September 27, 2017

PASADENA, TEXAS — Marcus & Millichap has brokered the sale of two multifamily properties totaling 980 units in the Houston metro of Pasadena. The 514-unit Alta Vista and the 468-unit Las Villas are both located near Port Houston, with access to State Highway 225, the Sam Houston Tollway and Interstate 45. Both properties were built in 1970 and renovated between 2012 and 2015. Jeffrey Fript and Christian Mazzini of Marcus & Millichap represented the seller, Empire Square Group, a New York-based private equity firm, in the transaction. Fript procured the buyer, an undisclosed multifamily operator based in Houston.

September 27, 2017

Multifamily Texas

ArborCrowd Offers Investors Shares in $40.8M Multifamily Deal in San Antonio

by Taylor Williams September 27, 2017

SAN ANTONIO — Online commercial real estate firm ArborCrowd has offered investors an opportunity to own equity interests in Quarry Station Apartments, a 306-unit multifamily community in San Antonio’s Alamo Heights neighborhood. The total capitalization of the deal is $40.8 million, with ArborCrowd raising $3.2 million in equity and projecting a return of 16 to 19 percent across a two- to four-year hold period. As part of the deal, the current owner will invest in upgrades to the property’s interiors and exteriors. ArborCrowd is a crowdfunding real estate investment organization that is part of the Arbor family of companies, including Arbor Realty Trust, Arbor Commercial Mortgage and AMAC.

September 27, 2017

Retail Texas

Results Physiotherapy to Open Four Locations in Greater Houston

by Taylor Williams September 27, 2017

HOUSTON — Results Physiotherapy, a Tennessee-based physical therapy operator with more than 130 clinics across nine states, will soon open four new locations in the Houston area. The new clinics will be located at 2900 Weslayan St. in River Oaks; at Market Town Center in Sugar Land; at Town Square Shopping Center on the city’s west side; and at 4660 Beechnut St. in Meyerland. Jamie Weaver of EDGE Realty Partners represented Results Physiotherapy, which will now operate eight locations in the Houston area, in all lease negotiations. .

September 27, 2017

Hospitality Southeast Virginia

Noble Investment Group Acquires 142-Room Hotel in Metro D.C.

by Camren Skelton September 27, 2017

MCLEAN, VA. — Noble Investment Group has purchased Staybridge Suites Tysons-McLean, a 142-room hotel in downtown McLean, part of the greater Tysons Corner market of Washington, D.C. The seller and sales price were not disclosed. The extended-stay hotel features suites equipped with a full kitchen and flexible work space. In addition, Staybridge Suites features a 24-hour business and fitness center, complimentary breakfast buffet, pool, fire pit and a patio with barbeque grills.

September 27, 2017

Florida Industrial Southeast

Cushman & Wakefield Arranges $14.9M Sale of Manufacturing Facility in Broward County

by Camren Skelton September 27, 2017

CORAL SPRINGS, FLA. — Cushman & Wakefield has brokered the $14.9 million sale of 4520 Coral Ridge Drive, a 245,000-square-foot manufacturing facility in Coral Springs. Richard Etner Jr., Christopher Metzger, Christopher Thomson and Matthew McAllister of Cushman & Wakefield represented the buyer, Philadelphia-based Exeter Property Group. Hoerbiger Corp. of America sold the asset. Formerly known as the Alliance Building, 4520 Coral Ridge Drive is situated on 38.4 acres within Corporate Park of Coral Springs. Of that land, 17.6 acres is developable. Constructed in 1981 and fully renovated in 1995 to meet Category 5 hurricane safety standards, the building features 196,000 square feet of warehouse and manufacturing space, 63,000 square feet of office space, a data room, auditorium-style theater and 537 parking spaces. In addition, 4520 Coral Ridge Drive offers ceilings heights ranging from 24 to 35 feet, nine dock-high doors and one drive-in door.

September 27, 2017

Midwest Minnesota Multifamily

CBRE Arranges $87M Sale of Luxury Multifamily Property in St. Paul

by Kristin Harlow September 27, 2017

ST. PAUL, MINN. — CBRE has arranged the sale of the Vintage on Selby in St. Paul for $87 million. The 210-unit multifamily property features a 39,506-square-foot Whole Foods Market on the first floor. Completed in 2015, the property is located at the intersection of Snelling and Selby avenues. The building features a mix of units ranging from studios to three-bedroom units. Amenities include a rooftop terrace with swimming pool, fitness center and yoga room, club room, electric car charging stations and bike storage. Abe Appert, Keith Collins, Ted Abramson and Laura Hanneman of CBRE represented the seller, The Vintage on Selby LLC. The entity is related to Ryan Cos. and The Excelsior Group, which developed the property. An affiliate of Zurich North America purchased the property.

September 27, 2017

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