REAL ESTATE

JLL adds tenant rep in Chicago

BY Michael Fickes

Chicago — Jones Lang LaSalle has brought on Adam Cody as a VP in its Chicago office. He will work with executive VPs Lew Kornberg and Walter Wahlfeldt to expand the firm’s retail tenant representation capabilities.

Cody joins JLL from SRS Real Estate Partners with more than 10 years of experience supporting national retailers in expansions and dispositions, go-to-market site selection and relocations and new and existing lease transactions for retailers such as Discount Tire, J.C. Penney, Toys “R” Us, Verizon Wireless, 7-Eleven, Corner Bakery and AutoNation.

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REAL ESTATE

SRS Real Estate Partners July transactions

BY Michael Fickes

Dallas — SRS Real Estate Partners (SRS) announces highlights of August transactions and new assignments.

Atlanta:
Shoe Carnival has executed a new lease for an 11,542-sq.-ft. space at Heritage Pavilion in Smyrna, Ga. The new location is expected to open in October 2013. SRS represented the tenant in this transaction. Developers Diversified Realty represented the landlord.

Fort Valley Partners, LLC has sold Fort Valley Shopping Center, a 71,887-sq.-ft. neighborhood center in Fort Valley, Ga., to PDQ Fort Valley. The SRS Atlanta office represented the seller, Fort Valley Partners, LLC, in the transaction.

Dallas:
Versona Accessories has leased a 6,500-sq.-ft. space in the MacArthur Park shopping center in Irving, TX. SRS represented the tenant, Versona Accessories in the transaction. AmREIT represented the landlord.

SRS represented Masala Wok in the leasing of a 2,465-sq.-ft. space at Preston Center in Dallas. Crestview Real Estate represented the landlord.

Firecrust Neapolitan Pizzeria has signed leases for two locations in North Dallas. Firecrust has leased a 3,000-sq.-ft. space in Dallas at Knox Promenade shopping center and a 2,935-sq.-ft. space at Prestonwood Park in Plano, Texas.

SRS represented Firecrust Neapolitan Pizzeria in both transactions. SRS also represented Hartman Prestonwood Properties. Stockdale Investment Group represented the landlord, Knox Promenade LLC.

SRS represented Bon Chon Chicken in the leasing of a 4,500-sq.-ft. space at the northeast corner of Greenville Avenue and Lovers Lane in Dallas. SRS represented the tenant, Bon Chon Chicken in the transaction. Westwood Financial represented the landlord.

Denver:
Red Robin Express LLC has leased a 2,274-sq.-ft. space at The Summit on College in Fort Collins, Colo., with an expected opening in October as a Red Robin’s Burger Works location. SRS represented the tenant. Jim Palmer with Cassidy Turley Colorado represented the landlord.

Target has sold two vacant buildings in Colorado Springs, Colo., to Garden Ridge. SRS represented Target.

New York:
SRS announced the sale of a retail condominium at the base of the Tempo Residential Tower at the southeast corner of Second Avenue & 23rd Street in the Gramercy Park neighborhood of New York. The condominium is a two level, 11,145-sq.-ft. space occupied on a long-term lease by Duane Reade, which is wholly owned by Walgreen Co.

SRS’ New York office represented the ownership, MUS 23, LLC, in both the sale of the retail condominium and the lease of the premises to Duane Reade. The property was sold to an affiliate of The Feil Organization and the purchase price was $16.1 million.

Orlando:
Subway recently signed a 1,673-sq.-ft. lease at SkyHouse Orlando, the luxury high rise in downtown Orlando. SRS represented the landlord.

Phoenix:
SRS has leased three new spaces for Jimmy John’s Gourmet Sandwiches.

The first location is a 1,896-sq.-ft. space at Fountain Square Plaza. The second location is a 1,762-sq.-ft. space at Lake Pleasant Crossing. The third location is a 1,292-sq.-ft. space at Cave Creek Marketplace.

SRS represented Jimmy John’s in the transactions. The company also represented the landlord Carlyle/Cypress Lake Pleasant at Lake Pleasant Crossing.

SRS has facilitated the sale of a 5,000-sq.-ft., single-tenant, former bank building located at the southeast corner of Broadway Road and Greenfield Road in Mesa, Ariz. SRS represented the seller in the transaction, Antelope Ranch Holdings LLC.

San Francisco:
The San Francisco 49ers Team Store will open a 2,391-sq.-ft. retail shop at Westfield Valley Fair Shopping Center in San Jose, Calif. SRS represented the tenant, San Francisco 49ers, in the transaction.

San Jose:
Summerhill Homes sold a two-acre vacant parcel in downtown Sunnyvale, Calif. to T2 Development, which has secured approval to develop a Courtyard by Marriott Hotel at the site. SRS represented the seller, Summerhill Homes, as well as the buyer, T2 Development LLC, in the transaction.

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REAL ESTATE

GBT Realty adds to shopping center and net lease teams

BY Michael Fickes

Brentwood — GBT Realty Corp. has added four new members to its team.

Ivan Lozina, a 20-year industry veteran has been appointed senior construction manager. Lozina will oversee construction management for new developments in the Shopping Center Division. Prior to joining GBT, Lozina spent 17 years at Benderson Development Company, managing the construction of more than 20 million square feet of commercial real estate.

Chad Brubaker joins the company as acquisitions manager for the company’s Net Lease Division. Prior to GBT, he served as real estate manager for Janney Montgomery Scott LLC, a financial advisory firm. He handled site selection, budgeting, construction and project management of 100+ office and retail locations throughout the U.S.

Ben Owenell has more than a decade of experience in property management, marketing and finance for multi-family and mixed-use developments. He joins the company as development finance manager. Previously, Owenell served as sales and marketing manager for Birchwood Consolidated.

Lauren Tangard joins the company as market research analyst. She comes to GBT from Dale Smith Thomas, where she served as marketing director.

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