Allston Urban Outfitters, Petco site sold

A Newton real estate company has purchased a retail and medical office building in Allston for $11.7 million.

An investment affiliate of National Development bought the three-story building at 226 Harvard Ave. from Chicago's Wrightwood Capital.

The 28,000-square-foot property, built in 2009, is fully leased to four tenants: Urban Outfitters, Unleashed by Petco, Hair Cuttery and Steward Medical Group.

"We like the fact that this is a new property at a prime visible location at the intersection of Harvard Street and Commonwealth Avenue," said Ted Tye, a managing partner at National Development. "It has great MBTA access and strong long-term leases."

The building, which fell into foreclosure in 2010 after the construction loan matured, sits between a Staples store and T.J. Maxx.

Elsewhere in Boston, National Development said in September that it was selling six buildings in the Fort Point neighborhood.

Tye declined comment on a report that the firm has reached a $130 million deal with Clarion Partners, a New York real estate investment manager.

National Development bought the buildings — one of which features the iconic Boston Wharf Co. neon sign on its roof — for about $74 million in 2007.

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