Property Type

Hunt Midwest Breaks Ground on 203,899 SF Industrial Build-to-Suit Project for Community Wholesale Tire in Kansas City

by Kristin Harlow August 16, 2023

KANSAS CITY, MO. — Hunt Midwest has broken ground on a 203,899-square-foot industrial build-to-suit project for Community Wholesale Tire at Hunt Midwest Business Center in Kansas City. The facility will feature a clear height of 32 feet, 60 trailer parking spaces, 190 vehicle parking spaces and a 190-foot-deep truck court. Completion is slated for the end of the year. The project team includes civil engineer Olsson and Associates, general contractor GPS-KC and H2B Architects. Austin Baier and Mike Mitchelson of CBRE represented Hunt Midwest. Located just east of I-435, Hunt Midwest Business Center totals 2,500 acres. Community Wholesale Tire maintains facilities in nine states across the Midwest, serving more than 4,500 tire dealers.

August 16, 2023

Leasing Activity Midwest Office Wisconsin

St. John Properties Signs Leases With Three Office Tenants at Mt. Pleasant Commerce Center in Wisconsin

by Kristin Harlow August 16, 2023

MT. PLEASANT, WIS. — St. John Properties Inc. has signed leases with three office tenants for more than 30,000 square feet at Mt. Pleasant Commerce Center in Mt. Pleasant, about 30 miles south of Milwaukee. The U.S. General Services Administration will relocate approximately 25 to 30 employees from 4020 Durand Ave. in Racine to 10,150 square feet in Mt. Pleasant by year’s end. Power transmission equipment manufacturer Twin Disc Inc., based in Racine, signed a lease for 15,482 square feet and will relocate its engineering division with roughly 45 employees by year’s end. Wisconsin Early Autism Project and Total Spectrum signed a lease for 5,536 square feet for its fifth location in metro Milwaukee. The group will take occupancy in October. Greg Fax represented St. John Properties on an internal basis.

August 16, 2023

Development Multifamily New Jersey Northeast Seniors Housing

Marquis Begins Renovations at Allendale Senior Living in Northern New Jersey

by Taylor Williams August 16, 2023

ALLENDALE, N.J. — Marquis Health Consulting Services has begun renovations at Allendale Senior Living, an assisted living and healthcare facility in Northern New Jersey. The unit count was not disclosed, but the property spans 146,000 square feet and sits on a 12-acre site. Renovations include a refresh of corridors, expansion of some apartments and the introduction of new amenities, including lounges, a private dining room and a salon. Marquis will also upgrade the movie theater and landscaping, and has already completed the redesign of the lobby and main dining room.

August 16, 2023

Industrial Leasing Activity New Jersey Northeast

Orthofeet Inc. Signs 71,870 SF Industrial Lease Renewal in Norwood, New Jersey

by Taylor Williams August 16, 2023

NORWOOD, N.J. — Orthofeet Inc., a provider of inserts and other custom footwear products, has signed a 71,870-square-foot industrial lease renewal in the Northern New Jersey community of Norwood. Orthofeet has been a tenant at the building at 335 Chestnut St., which spans 111,300 square feet and was constructed in 1969, since 2019. Stephen Jennings represented the landlord, Alfred Sanzari Enterprises, in the lease negotiations on an internal basis. Daniel Whitehead of Resource Realty represented Orthofeet.

August 16, 2023

Acquisitions Arizona Florida Retail Western

SRS Real Estate Negotiates $94M Sale of Seven EoS Fitness-Occupied Properties in Arizona, Florida

by Amy Works August 16, 2023

ARIZONA AND FLORIDA — SRS Real Estate Partners has arranged the sale of seven single-tenant EoS Fitness properties in Arizona and Florida for a combined purchase price of $94 million. Barclay Group sold the properties to a publicly traded REIT. Patrick Nutt and William Wamble of SRS Capital Markets represented the seller. Tyler McRae of SRS, along with Echelon Realty Advisors, were responsible for leasing the assets on behalf of EoS Fitness. The portfolio comprises three new-construction gyms that opened in 2023, as well as four formerly vacant grocery stores that are currently undergoing redevelopment. All of the properties have 15-year, corporate-guaranteed, triple-net leases in place with scheduled rental increases. The properties include:

August 16, 2023

Arizona Industrial Loans Western

Baker Development Receives $39M Refinancing for Yuma143 Industrial Property in Goodyear, Arizona

by Amy Works August 16, 2023

GOODYEAR, ARIZ. — Phoenix-based Baker Development Corp., along with joint venture partner GTIS Partners, has secured a $39 million loan to refinance Yuma|143, a Class A industrial project in Goodyear. Dustin Stolly, Jordan Roeschlaub, Chris Kramer and Tim Polglase of Newmark Debt and Structured Finance arranged the financing, which Arizona Bank and Trust provided. Located at 14160 and 14170 W. Yuma Road, the 490,278-square-foot property features a 300,100-square-foot building, fully leased by HelloFresh subsidiary Factor 75, and a 190,178-square-foot facility occupied by Apex Tool Group and Romac Industries. Yuma|143 features up to 40-foot clear heights, insulated dock-high and grade-level doors, full concrete truck courts, clerestory windows and generous parking. The project’s development team included Butler Design Group as architect and Hunter Engineering as engineer. Anthony Lydon, Marc Hertzberg, Riley Gilbert and John Lydon of JLL are the project’s leasing brokers.

August 16, 2023

Acquisitions Arizona Nevada Retail Western

Marcus & Millichap Arranges $41.4M Sale of Six-Property Car Wash Portfolio in Phoenix, Las Vegas

by Amy Works August 16, 2023

PHOENIX AND LAS VEGAS — Marcus & Millichap has brokered the sale of six Ultra Clean Express Car Wash net-leased properties located across Phoenix and Las Vegas. The portfolio sold for $41.4 million. Chris Lind, Zack House and Mark Ruble of Marcus & Millichap’s Phoenix office represented the seller, a limited liability company. Ryan Sarbinoff served as Marcus & Millichap’s Arizona broker of record and Drank Cameron Glinton served as Marcus & Millichap’s Nevada broker of record. The buyer was not disclosed. Each asset includes a new 20-year, triple-net lease with corporate guarantee and a 10 percent rental increase every five years. Ultra Clean operates under multiple brands, including Ultra Clean, 3 Minute Car Wash, Rinse N Ride, Sparkle and Fast & Friendly.

August 16, 2023

Dove-Valley-Business-Center-Englewood-CO

Acquisitions Colorado Industrial Western

Westcore Sells Dove Valley Business Center in Englewood, Colorado for $29.7M

by Amy Works August 16, 2023

ENGLEWOOD, COLO. — Westcore has completed the disposition of Dove Valley Business Center, a warehouse distribution center located at 14101 E. Otero Ave. in the Denver suburb of Englewood. An undisclosed private investor acquired the asset for $29.7 million. Built in 2018, Dove Valley Busines Center features 149,776 square feet of Class A industrial space with 28-foot clear heights, ESFR sprinklers, dock-high and drive-in loading, a large truck court and outdoor storage. At the time of sale, the facility was fully leased to five tenants. Jeremy Ballenger, Jim Bolt, Tyler Carner and Jessica Ostermick of CBRE National Partners in Denver represented the seller, while MidPacific Asset Advisors represented the buyer in the transaction. Tyler Reed, Dominic DiOrio and Peter Beugg of Stream Realty Partners handled leasing for the property.

August 16, 2023

Acquisitions Industrial Nevada Office Western

Avison Young Brokers $4.7M Sale of Office/Warehouse Building in Henderson, Nevada

by Amy Works August 16, 2023

HENDERSON, NEV. — Avison Young has arranged the sale of an office and warehouse property located at 7440 Commercial Way in Henderson. Diamond Mountain Properties sold the asset to R.E. Michel Co. for $4.7 million. Built in 2001 on 1.2 acres, the 17,776-square-foot property features just under 4,000 square feet of office space, 28-foot clear heights, one dock-level door, one grade-level door and 31 parking stalls. The buyer, a wholesale distributor of HVAC/R equipment, parts and supplies, will occupy the entire building. Joe Leavitt, Chris Lexis and James Griffis of Avison Young represented the seller, while the buyer was self-represented in the deal.

August 16, 2023

Acquisitions Florida Illinois Midwest Retail Southeast Top Stories

Aldi to Acquire Winn-Dixie, Harveys Supermarket from Southeastern Grocers

by Kristin Harlow August 16, 2023

BATAVIA, ILL. AND JACKSONVILLE, FLA. — German discount grocer Aldi has entered into a definitive agreement to acquire Winn-Dixie and Harveys Supermarket as part of a larger divestiture of Jacksonville-based parent company Southeastern Grocers to various entities. Financial terms of the transaction were not disclosed. The Southeast-focused acquisition includes approximately 400 Winn-Dixie and Harveys locations across Alabama, Florida, Georgia, Louisiana and Mississippi. Aldi, which maintains its U.S. headquarters in Batavia, Ill., first established its presence in the Southeast in the mid-1990s and has since invested $2.5 billion in the region. Most recently, Aldi opened its 26th regional headquarters and distribution center in Loxley, Ala., to help support new stores in the region. The retailer plans to open 20 new locations in the area by the end of the year. Jason Hart, CEO of Aldi, says the acquisition supports Aldi’s long-term growth strategy across the country. The grocer plans to open 120 new stores this year to reach a total of more than 2,400 stores by year’s end. Aldi will evaluate which Winn-Dixie and Harveys locations will be converted into Aldi stores. The stores that are not converted will continue to operate under the Winn-Dixie and Harveys brands. Deutsche Bank served …

August 16, 2023

Newer Posts

Older Posts