GRAPEVINE, TEXAS —ML Realty Partners has acquired a 58,775-square-foot industrial building in Grapevine. The single-tenant warehouse facility is 100 percent leased and located at 600 Westport Parkway. The property’s location offers access to both Dallas and Fort Worth, with the eastern property line bordering Dallas-Fort Worth International Airport. The building’s design includes 3.5 acres of secure, paved outside storage. Tyson Erwin of NAI Robert Lynn represented the seller in the transaction.
RICHARDSON, TEXAS — Lee & Associates has completed a lease renewal transaction for 25,600 square feet of flex/office space located at 1350 N. Glenville Drive in Richardson. Brett Lewis and George Tanghongs of Lee & Associates’ Dallas/Fort Worth office represented the landlord, TPG. Mike Kay of CBRE represented the tenant, Extend Health Inc.
SPRING, TEXAS — HFF has arranged joint venture equity for the development of a Class A, 851-unit self-storage facility in The Vintage master-planned community in Spring. HFF worked on behalf of the development manager, Vintage Hannah One, to arrange a joint venture equity partnership with an unnamed partner. Scheduled for completion in late 2016, the project will consist of four buildings totaling 82,675 square feet situated on 5.8 acres. Barbara Guffey led the HFF self-storage team representing the development manager.
PRINCETON, TEXAS — NOVUS Realty Advisors’ Tom Grunnah has completed the sale 11 acres for client and former property owner Wells Fargo Bank NA. The land is located at the southwest corner of the US Highway 380 and Cypress Bend intersection, just east of downtown McKinney in Princeton. The buyer, F&L LLP, plans to divide the property and sell commercial pad sites to end users.
EUGENE, ORE. — Avago Technologies has purchased the Eugene Technology Center, a 1.1-million-square-foot industrial and manufacturing campus, for an undisclosed sum. The Class A campus is located at 1830 Willow Creek Circle in Eugene. Avago plans to manufacture semiconductor chips at the facility, which was built in 1997. The three-story property represents the largest advanced manufacturing space available in the Western U.S., according to Binswanger, which represented the buyer. The seller was Hynix Semiconductor America. Chuck Pawlak and Eric Dienstbach of Binswanger represented Avago.
NEW YORK CITY — Heritage Equity Partners and Rubenstein Partners are co-developing 25 Kent Avenue, a 480,000-square-foot project in Brooklyn. The ground-up property will be Brooklyn’s first speculative commercial building in 40 years. Designed by Gensler and HWKN, the building will feature office and light industrial space for creative arts, makers and technology firms. While site preparation is underway, the project has entered the official land use review process known as Uniform Land Use Review Procedure (ULURP) with construction slated to begin later this year.
LIBERTYVILLE, ILL. — Avison Young has arranged a 51,624-square-foot long-term lease for an office and warehouse space in Libertyville, approximately 40 miles northwest of Chicago. All American Containers, a global packaging solutions company, will begin occupying space in the north portion of the building this spring. Bridge Development Partners developed the facility, located at 851 E. Park Ave. The two-building project, which totals 406,000 square feet, features 32-foot clear heights, flexible dock space and ample truck and car parking. Each building is divisible by 20,000 square feet and All American Containers’ lease includes 4,500 square feet of office space. Keith Puritz, Brett Kroner and Eric Fischer of Avison Young represented the tenant. Michael Fonda and John Hauser of Avison Young represented Bridge Development Partners.
BEAUMONT, TEXAS — NAI Wheeler has changed its name to Wheeler Commercial. This change represents a DBA (Doing Business As) change only. KenWheel Inc. remains unchanged. The president of the company, Lee Wheeler, has been serving southeast Texas for more than 16 years and has been in the commercial real estate business for more than 18 years. The structure and personnel of the company has not changed. Wheeler Commercial specializes in commercial real estate and brokerage services including sales, leasing, consulting and property management.
HOUSTON — Miller Road Realty has purchased 80.4 acres on Beaumont Highway in Houston. Trey Erwin of Colliers International represented the buyer in the transaction. Frank Blackwood of Capital Real Estate Commercial represented the seller, Williams Brothers Construction Co.
DALLAS — Steve Jarvie has joined E Smith Realty Partners as president. Jarvie will lead the growth initiative for Dallas tenant representation services and will serve on the company’s executive committee, assisting with strategic direction for the company. Prior to joining E Smith Realty, Jarvie served as executive vice president at Jones Lang LaSalle (JLL) and The Staubach Co., focusing on the development of new business and management of client transactions. Jarvie has accounted for more than 10 million square feet of leases during his career. Jarvie earned his Bachelor of Arts degree from Baylor University in Waco.