LOUISVILLE, KY. — Herschend Enterprises has become the majority owner and main operator of Kentucky Kingdom and Hurricane Bay, an amusement and water park located at 937 Phillips Lane in Louisville. Georgia-based Herschend is a family-owned theme attractions and entertainment company whose operations include Dollywood, Silver Dollar City and Newport Aquarium. Craig Ross, Dollywood’s president for the past 10 years, will serve as Kentucky Kingdom’s interim general manager. The acquisition was a collaborative effort between Kentucky Kingdom LLLP, the Kentucky State Fair Board, the Tourism, Arts and Heritage Cabinet and the Finance & Administration Cabinet. The price of the transaction was not disclosed. Kentucky Kingdom and Hurricane Bay opened in 1987 and cover a 65-acre entertainment complex. According to the Louisville Business First, entrepreneur Ed Hart and an investor group with Ed Glasscock, Bruce Lunsford and the Al J. Schneider Cos. reached a deal with the State of Kentucky to acquire and reopen the park, which closed in 2009 following a decade operating as Six Flags Kentucky Kingdom. In 2014, Kentucky Kingdom reopened after a $44 million redevelopment effort that doubled the size of the Hurricane Bay water park. Future plans for the Louisville amusement and water park include hosting …
OCOEE, FLA. — McCraney Property Co., a private industrial real estate development and investment firm, has acquired 40 acres in an off-market assemblage of three parcels just south of East Fullers Cross Road in Ocoee. The purchase price was not disclosed. The company plans to develop Progress Commerce Park, a six-building, Class A speculative industrial park totaling 480,560 square feet. Currently, the proposed site plan is under review with the City of Ocoee, as well as a zoning change request. If approved, Progress Commerce Park will be developed in three phases. The sellers are Lawrence Levin, Patricia Donahue, Thomas West and West & West LLC, according to Orlando Business Journal. Neither the seller’s nor McCraney Property had brokers in the acquisition.
FORT WORTH, TEXAS — JLL has arranged the sale of the 20-story, 409,997-square-foot Pier 1 Imports office tower to the City of Fort Worth. The city plans to occupy about 260,000 square feet of space by 2022 at the building, which is located at 100 Energy Way in the downtown area, including the relocation of Fort Worth City Hall. Amenities include a fitness center and a cafeteria. Todd Burnette, Pat McDowell, David Berzina and John Davidson of JLL brokered the deal. According to the Fort Worth Business Press, Pier 1 sold the building in 2008 to Chesapeake. Hines acquired the property in 2014 and sold it to Hertz Investment Group in 2018. Pier 1 Imports filed for Chapter 11 bankruptcy in February 2020 and subsequently announced a full liquidation plan in May.
SAN ANTONIO — An affiliate of Chicago-based investment firm Morningside Group has acquired Urban Crest, a 232-unit apartment community in north San Antonio. Built in 2015, the property features studio, one-, two- and three-bedroom floor plans and amenities such as a pool, fitness center, social lounge, conference center, game room, outdoor grilling areas and a pet park. Patton Jones and Matt Michelson of Newmark represented the seller, Austin-based CFH Investment Partners, in the transaction. Urban Crest was 88 percent occupied at the time of sale.
ARLINGTON, TEXAS — Newmark has brokered the sale of AmeriCredit Center I, a 246,060-square-foot office building in Arlington that is fully leased to automotive finance firm AmeriCredit. According to LoopNet Inc., the three-story property was built on 25.4 acres in 1998. Gary Carr, Ken Hedrick, Jerry Hopkins and Andrew Ragsdale of Newmark represented the undisclosed seller in the transaction. The buyer was CFT Developments LLC.
KILLINGLY, CONN. — Marcus & Millichap has brokered the sale of a 103,084-square-foot industrial building in Killingly, located in the north part of the state along the Rhode Island border. The property was net-leased to steel fabricator Siri Wire, which has occupied the building since 1994, at the time of sale. Harrison Klein, Laurie Ann Drinkwater and Seth Richard of Marcus & Millichap represented the seller, a limited liability company, and procured the buyer, a private investor.
WHEELING, ILL. — Marcus & Millichap has negotiated the sale of Creekside Plaza in Wheeling for $2 million. The 31,460-square-foot retail center is located at 200-300 McHenry Road. Some of the tenants include a beauty salon, dry cleaners and dentist office. Adrian Mendoza, Austin Weisenbeck and Sean Sharko of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. The team also secured and represented the buyer, a Chicago-based 1031 exchange investor.
EAST HAVEN, CONN. — Connecticut-based brokerage firm O,R&L Commercial has arranged the sale of a 24,272-square-foot medical office building in East Haven, located in the southern coastal part of the state. The property was fully leased at the time of sale. Frank Hird of O,R&L Commercial represented the seller and the buyer in the $2.5 million transaction. Both parties were limited liability companies.
PHOENIX — Miami-based Starwood Property Trust has completed the sale of Moon Valley Towne Center in Phoenix. An entity formed by Moore, Oklahoma-based BP National City LLC acquired the neighborhood shopping center for an undisclosed price. Situated on 11.4 acres at the southeast corner of 7th Street and Bell Road, Moon Valley Towne Center features 106,571 square feet of retail space. Hobby Lobby is an anchor tenant at the center, which is home to more than 92 percent national tenants. Michael Hackett and Ryan Schubert of Cushman & Wakefield Phoenix represented the seller in the deal.
FORT COLLINS, COLO. — An affiliate of Cress Capital has completed the disposition of two single-story R&D buildings in Fort Collins. An undisclosed buyer acquired the properties for $30.6 million. Located at 1625 Sharp Point Drive and 24224 Midpoint Drive, the assets offer a total of 115,627 square feet of industrial space. At the time of sale, Advanced Energy Industries fully occupied both facilities on a long-term basis. Cress originally acquired the properties in May 2017 as part of a 23-buliding portfolio in the Prospect East Business Park. Jeremy Ballenger, Jim Bolt, Tyler Carner, Will Pike and Pete Kelly of CBRE represented Cress Capital in the transaction.