sales_and_leases

Retail Insite Signs Two Tenants to Retail Redevelopment Project Near San Diego

by Nellie Day November 13, 2017

VISTA, CALIF. — Retail Insite has inked deals with two tenants at Vista Terrace Marketplace, a retail redevelopment project in Vista, 40 miles north of San Diego. Brian Pyke and Don Moser of Retail Insite signed a 15-year lease with Sprouts Farmers Market, which will anchor the development, and a 20-year lease with Dunkin’ Donuts. Black Lion Investment Group, the project developer, acquired the existing 48,000-square-foot retail center and an adjacent 2.5-acre parcel of land in 2016 with plans to reposition the property. The redevelopment will reface inline and end-cap shop space, create restaurant-ready suites with patios and build the Sprouts anchor building on the 2.5-acre land parcel. The first phase of Vista Terrace Marketplace is slated for completion in early 2018, and Sprouts is expected to open in the fourth quarter of 2018.

November 13, 2017

Multifamily Texas

Napali Capital Acquires 164-Unit Apartment Community in Dallas

by Taylor Williams November 13, 2017

DALLAS — Southlake, Texas-based investment firm Napali Capital LLC has acquired Adira Apartment Homes, a 164-unit multifamily community located at 1301 W. Wheatland Road in Dallas. The 12-building property features amenities such as a playground, business center and an after-school program. Napali, which now owns six properties in Texas, will invest approximately $600,000 in capital improvements to the property’s landscaping and communal areas.

November 13, 2017

Industrial Lee & Associates Texas

Lee & Associates Negotiates 250,000 SF Industrial Lease in Fort Worth

by Taylor Williams November 13, 2017

FORT WORTH, TEXAS — Lee & Associates has negotiated a 250,000-square-foot industrial lease at 2900 Meacham Blvd. in Fort Worth on behalf of Woods Distribution Solutions, a Fort Worth-based industrial logistics firm. Built in 1991, the cross-dock property offers 24-foot clear heights, an ESFR sprinkler system and 6,000 square feet of office space. Becky Thompson of Lee & Associates represented the tenant and the landlord, 2900 Meacham LLC, in the lease negotiations.

November 13, 2017

Office Texas

Cushman & Wakefield Secures 68,263 SF Office Lease Renewal in Dallas

by Taylor Williams November 13, 2017

DALLAS — Cushman & Wakefield has secured a 68,263-square-foot office lease renewal at One McKinney Plaza, a 263,921-square-foot, Class A office property located at 3232 McKinney Ave. in Uptown Dallas. Craig Wilson, Randy Cooper, Dan Harris, and Wills Bauer of Cushman & Wakefield represented the tenant, ISNetworld, a Dallas-based human resources firm. The landlord, Gaedeke Group, was represented internally by Elliot Prieur.

November 13, 2017

Illinois Midwest Mixed-Use

Marcus & Millichap Brokers $13M Sale of Mixed-Use Property in Des Plaines, Illinois

by Kristin Harlow November 13, 2017

DES PLAINES, ILL. — Marcus & Millichap has brokered the sale of Metropolitan Square in Des Plaines, a northwest suburb of Chicago, for $13 million. The 120,983-square-foot mixed-use property is located at 518 Metropolitan Way. Completed in 2004, the property includes a 40,000-square-foot Shop & Save Market, a freestanding Fifth Third Bank, a 10,500-square-foot multi-tenant strip center and additional street-level retail space. Also included in the sale was a three-story, 22,000-square-foot medical office building. The property was 68 percent occupied at the time of sale. Other tenants include Tap House Grill, Panera Bread, Potbelly Sandwich Works, Giordano’s, Forever Yogurt, LA Tan, Elite Training & Fitness, Chiro One and Allstate Insurance. Sean Sharko and Austin Weisenbeck represented the undisclosed buyer and seller.

November 13, 2017

Alabama Retail Southeast

Katz Properties Acquires Shopping Center Near Birmingham for $60.3M

by Camren Skelton November 13, 2017

VESTAVIA HILLS, ALA. — New York-based Katz Properties has acquired Vestavia Hills City Center, a 392,000-square-foot shopping center in Vestavia Hills, roughly six miles south of Birmingham, for $60.3 million. HFF arranged mortgage financing for the acquisition. The seller was not disclosed. Vestavia Hills City Center is home to anchor tenant Publix, AMC Vestavia Hills 10, Planet Fitness, Starbucks Coffee, Rite Aid, Stein Mart and various restaurant tenants. In addition, the center is home to a variety of office users. Katz Properties has hired Fairway Management Group LLC to manage the property.

November 13, 2017

Florida Multifamily Southeast

Lloyd Jones Capital Purchases 282-Unit Apartment Community in Jacksonville for $40.9M

by Camren Skelton November 13, 2017

JACKSONVILLE, FLA. — Miami-based Lloyd Jones Capital has acquired Deerwood Park, a 282-unit apartment community in Jacksonville. The Florida Times-Union reports the asset sold for $40.9 million. The property is located within Deerwood Office Park on Touchton Road, home to 5.2 million square feet of office space. Constructed in 2002, Deerwood Park offers one-, two- and three-bedroom units. Community amenities include attached garages, a resort-style pool, outdoor kitchen with gas grills and a dog park. Finlay Management, the operations group at Lloyd Jones Capital, will manage the property.

November 13, 2017

Retail Southeast Tennessee

RCG Ventures Sells Retail Center in Clarksville, Tennessee for $17.8M

by Camren Skelton November 13, 2017

CLARKSVILLE, TENN. — Atlanta-based RCG Ventures has sold Hampton Plaza, a 124,260-square-foot shopping center in Clarksville, for $17.8 million. Fain Hicks of Cushman & Wakefield arranged the transaction on behalf of RCG Ventures. An affiliate of White Plains, N.Y.-based Yale Realty Services acquired the asset. Kohl’s anchors Hampton Plaza, which is also home to Michaels, Party City, Ulta Beauty, Kirklands, Books-A-Million, CATO, Mattress Firm, Lane Bryant, It’s Fashion and Sally Beauty Supply.

November 13, 2017

California Multifamily Western

JRK Property Holdings Buys Two-Property Multifamily Portfolio in Fresno for $98.7M

by Nellie Day November 10, 2017

FRESNO, CALIF. — JRK Property Holdings has purchased a 614-unit apartment portfolio in Fresno for $98.7 million. The portfolio includes the 218-unit Crown Point and the 200-unit Cascades. Both properties are situated within the Dominion neighborhood. Each property features a mix of one- and two-bedroom floor plans with wood-burning fireplaces, and units come with either garages or covered parking. Mark Leary and Nate Oleson of ARA Newmark represented the seller, Demmon Partners, in this transaction.

November 10, 2017

Gilbertsville-Shopping-Center-Gilbertsville-PA

Northeast Pennsylvania Retail

Brixmor Property Group Sells 85,576 SF Shopping Center Near Philadelphia

by Amy Works November 10, 2017

GILBERTSVILLE, PA. — Brixmor Property Group has sold Gilbertsville Shopping Center, a grocery-anchored retail center located at 1050 E. Philadelphia Ave. in Gilbertsville, a suburb of Philadelphia. The Westover Cos. bought the property for an undisclosed price. Weis Markets anchors the 85,576-square-foot center, which was constructed in 1976. The 95.6 percent leased center is also home to Anytime Fitness, T-Mobile, Pet Valu, Dairy Queen, National Auto Stores, Great Clips, Quest Diagnostics, KeyBank and Fine Wine & Good Spirits. Chris Munley, Michael DiCosimo and Jose Cruz of HFF represented the seller in the deal.

November 10, 2017

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