WEST PALM BEACH, FLA. — Calkain Cos. has arranged the $6.1 million sale of a retail property located at 1771 S. Congress Ave. in West Palm Beach that is currently leased to Wawa. Patrick Nutt and Scott Campbell of Calkain represented the undisclosed seller in the transaction. The newly constructed convenience store features a 20-year ground lease. The deal marks Nutt’s 23rd Wawa transaction. The buyer was not disclosed.
CARROLLTON AND PLANO, TEXAS — Inland Private Capital Corp (IPC). has arranged the $86 million sale of two multifamily properties totaling 559 units in metro Dallas. The properties include the 289-unit Mustang Park Apartments, located at 4645 Plano Parkway in Carrollton, and the 270-unit Domaine Apartments, located at 6400 Windcrest Drive in Plano. Both properties offer fitness centers, business centers and pools. IPC facilitated the sale though its subsidiary that serves as asset manager on behalf of one of its 1031 investment programs.
ELMHURST, ILL. — Euroview Enterprises LLC has entered into a 47,861-square-foot industrial lease in Elmhurst, about 18 miles west of Chicago. The manufacturer and distributor of glass shower doors will occupy the space at 342 Carol Lane. The company is moving from a nearby location at 420 W. Wrightwood Ave. Adam Haefner and Zeke Rowan of Darwin Realty represented the landlord, an institutional investor. Justin Lerner of Transwestern represented the tenant.
BEDFORD, TEXAS — ARA Newmark has brokered the sale of Cottages at Bedford, a 168-unit apartment community located at 2000 Park Place Blvd. in the Dallas-Fort Worth metro of Bedford. Amenities of the property, which was built in 1983 and renovated in 1987, include a pool, business center and resident clubhouse. The buyer and seller were not disclosed.
UNION CITY, GA. — Newmark Knight Frank (NKF), in collaboration with British counterpart Knight Frank, has negotiated a 1 million-square-foot industrial lease for ASOS, a London-based fashion retailer, in Union City, roughly 18 miles south of Atlanta. The online fashion retailer is investing approximately $40 million in the new fulfillment center at Majestic Airport Center IV along South Fulton Parkway. The facility will create 1,600 jobs upon completion and have a 10 million-unit capacity. Catered toward the millennial shopper, ASOS carries over 850 brands and features 85,000 products online, with 5,000 new items added each week.
WASHINGTON, D.C. — Trammell Crow Co. (TCC), along with Fort Lincoln New Town Corp. and CSG Urban Partners, have signed five new tenants at the Shops at Dakota Crossing, a 430,000-square-foot retail center located at 2438 Market St. N.E. in Washington, D.C. Chick-fil-A, Mecho’s, Dominican Kitchen, Jersey Mike’s and the Transit Employees Federal Credit Union signed long-term leases at the center, bringing total occupancy to 91 percent. The retailers are expected to open later this year. Over the past four months, tenants including Panda Express, Visionworks, T-Mobile, Vitamin Shoppe and Starbucks Coffee have signed leases at the center, which is also home to larger tenants including Costco, Lowe’s Home Improvement, Dick’s Sporting Goods, Marshalls and PetSmart. Lisa Stoddard and Abby Davids of CBRE are responsible for the property’s leasing assignment.
TAMPA AND ST. PETERSBURG, FLA. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $16.1 million sale of a two-property industrial portfolio in the Tampa Bay area — Airport Corporate Center, located at 6702-6712 Benjamin Road in Tampa, and Bay Tec Center, located at 2810-2880 Scherer Drive in St. Petersburg. Douglas Mandel of IPA arranged the transaction on behalf of the seller, Massachusetts-based Calare Properties. The IPA team also procured the buyer, California-based Avistone. The properties include 14 buildings totaling 231,867 square feet.
JACKSON, TENN. — Chase Properties Ltd. has acquired The Columns, a 268,000-square-foot shopping center in Jackson. The shopping center is home to tenants including Ross Dress for Less, Best Buy, Old Navy, Marshalls and Bed Bath & Beyond. Kohl’s, Ulta Beauty, Dick’s Sporting Goods and Hobby Lobby shadow-anchor the property. Retail Properties of America Inc. sold the asset for an undisclosed price. Disney Investment Group brokered the sale. The transaction marks Beachwood, Ohio-based Chase Properties’ third acquisition in the past year.
PEACHTREE CORNERS, GA. — Redline Property Partners has purchased 2 Sun Court, a 98,000-square-foot office building in Peachtree Corners, a city roughly 23 miles north of Atlanta. The sales price was not disclosed. MidCap Financial provided financing for the acquisition. Redline plans to rebrand and renovate the property, including developing additional amenity space on the property’s excess land. Grover Corlew will manage the property, and Matt Davis and Matt Fergus of Lincoln Property Co. will handle the leasing assignment. The acquisition marks Atlanta-based Redline’s first investment in its home market.
VALPARAISO, IND. — Berengaria Development LLC has acquired Porter’s Vale Shopping Center in Valparaiso in northwestern Indiana for an undisclosed price. The 277,059-square-foot shopping center is located along Highway 49. The property was 96 percent leased at time of purchase to tenants including Dick’s Sporting Goods, Five Below, Home Goods, Hobby Lobby, Party City, Cinemark, Kirkland’s, Gordman’s, McAllister’s Deli, Massage Envy and Mattress Firm. A 103,000-square-foot J.C. Penney shadow anchors the property. A 190,000-square-foot Meijer store will be completed in summer 2018. Paul Barile of Transwestern represented the undisclosed seller in the transaction.
