FORT WORTH, TEXAS — CHEP USA, a provider of pallets and containers for a variety of industries, has signed a 155,200-square-foot industrial lease renewal at 5301 Alliance Gateway Freeway in North Fort Worth. The site spans 11.4 acres, and the facility, which was built in 1996, features 26-foot clear heights, 122- to 125-foot truck court depths and parking for 102 cars and 93 trailers. Canon Shoults and Maddy Canty of Holt Lunsford Commercial represented the landlord, Brookfield Properties, in the lease negotiations. Greg Lance of Cushman & Wakefield represented the tenant.
BAYTOWN, TEXAS — Partners Real Estate has brokered the sale of Lost River RV Park in the eastern Houston suburb of Baytown. Lost River RV Park spans 11 acres and features 153 sites and 47 self-storage units. Landan Dory and Cole Little of Partners represented the seller, an entity doing business as Lost River RV LLC, in the transaction. John Manion and Tiffany Hastiecurry of California-based NAI Capital represented the undisclosed buyer. The sales price was also not disclosed.
DALLAS — American Girl will open a 14,720-square-foot store next month at The Shops at Park Lane, a 33.5-acre mixed-use development in the University Park area of Dallas. In addition to a full range of dolls and accessories, the two-level store will feature a full-service café, personal shopping assistants, private party rooms, salon services and a floor-to-ceiling dollhouse exhibit. The opening is scheduled for early March. Northwood Retail owns and operates The Shops at Park Lane.
SAND CITY, CALIF. — EKN Development and Garn Development have received $67.1 million in construction financing for the development of a dual-branded, 215-room hotel in Sand City, a tiny beach city on the shores of Monterey Bay in Northern California. JLL Capital Markets represented the borrower and secured at $39 million first mortgage loan from HALL Structured Finance. Nuveen Green Capital provided a $28.1 million C-PACE loan. The 139,660-square-foot development will include a 127-room Courtyard by Marriott and an 88-room Residence Inn by Marriott. The property will also offer 3,133 square feet of flexible meeting space; a courtyard with resort-style pool, cabanas and a fully equipped stage to accommodate live performances and events; and an independently branded restaurant and bar.
PEORIA, ARIZ. — CBRE has arranged a $35.2 million construction loan for Arizona-based Bela Flor Communities to develop Bella Olivia, a build-to-rent property in Peoria, a northwestern suburb of Phoenix. Construction is currently underway, with the property slated to open in summer 2024. Located at 9625 W. Olive Ave., Bella Olivia will feature 112 one-, two- and three-bedroom units across 16 residential buildings. Community amenities will include a resort-style pool and spa, designated walking trail, tot lot and dog park. Bruce Francis, Doug Birrell, Bob Ybarra, Shaun Moothart, Nick Santangelo and Jim Korinek of CBRE Capital Markets Debt & Structured Finance secured the 80 percent loan-to-cost, full-term interest-only, nonrecourse loan with an initial 30-month term.
GRAND JUNCTION, COLO. — DXD Capital has purchased a seven-property self-storage facility portfolio in Grand Junction, located in the western part of the state near the Utah border. DXD acquired the assets through DXD Self Storage Fund II, which launched in 2022. The price and sellers were not disclosed. Totaling 135,588 net rentable square feet, the portfolio offers 923 units. DXD hired StoragePro as third-party manager for the seven facilities. The buyer plans several capital improvements for the properties, including increased security measures and ADA paving projects at some facilities. The properties will continue to operate under the Hill and Home Storage brand. Adam Schlosser and Thomas Parsons of Marcus & Millichap represented DXD Capital in the deal.
PHOENIX — Las Vegas-based Capro Arcadia Views LLC has purchased Arcadia Views, a multifamily property at 2640 N. 52nd St. in Phoenix. Kinella Capital sold the asset for $8.5 million. Built in 2023, Arcadia Views features 16 one- and two-bedroom apartments with chef-inspired kitchens, outdoor areas and smarthome designs throughout. Select units also offer views of Camelback Mountain. David Fogler, Steven Nicoluzakis and Race Carter of Cushman & Wakefield’s Multifamily Advisory Group in Phoenix represented the seller in the deal.
AURORA, COLO. — Marcus & Millichap has arranged the sale of a restaurant property located at 25455 E. Smoky Hill Road in Aurora, a suburb east of Denver. A developer sold the asset to a local all-cash investor in a 1031 exchange for $2.6 million. Starbucks Coffee occupies the 2,155-square-foot property on a net-lease basis. James Rassenfoss and Drew Isaac of Marcus & Millichap’s Denver office represented the seller, while Kyle Malnati at Kentwood Commercial represented the buyer in the deal.
FISHERS, IND. — Developer Thompson Thrift has received approval from the City of Fishers to begin work on the next two phases of the $750 million Fishers District mixed-use development. Located near I-69 and 116th Street, The Union will include 55,000 square feet of retail space, 60,000 square feet of Class A office space, a 150-room boutique hotel, a 250-unit multifamily community and 805 structured parking spaces. Thompson Thrift is currently in negotiations for the hotel and about 40 percent of the retail space. Infrastructure work will begin this year, with vertical construction slated to begin in early 2025. The Crossing at Fishers District will comprise 62 acres, the centerpiece of which will be the city-owned 7,500-seat event center that is currently under construction. The center is the future home of the Indy Fuel, the professional hockey minor league affiliate of the NHL’s Chicago Blackhawks. The surrounding mixed-use development will feature office, retail, restaurant, residential, hotel and entertainment components. The event center is slated for completion later this year. Chicken N Pickle, an indoor-outdoor entertainment concept with a restaurant and pickleball courts, has committed to space at The Crossing. Thompson Thrift first began work on Fishers District in 2015. Once …
WAUKEGAN, ILL. — PREMIER Design + Build Group has completed the redevelopment of an aging, 225-acre business park in the Chicago suburb of Waukegan into a modern campus for high-tech manufacturing, logistics and life sciences users. PREMIER’s work to reinvent the former McGraw Park Campus began 10 years ago. The original development was named for Foster McGraw, who founded the American Hospital Supply Corp. (AHSC). The company occupied the campus before being acquired by Baxter Travenol Laboratories in 1985. The property is located on Waukegan Road near I-94. PREMIER completed the redevelopment project in three phases, ultimately demolishing 1.2 million square feet of obsolete space. The last remaining building on the campus was a 1970s-era concrete warehouse. PREMIER tore down the building and replaced it with a state-of-the-art distribution facility for The Visual Pak Cos., a contract packaging company. The new building features a cross-dock configuration with more than 50 loading docks. Overall, the new business park totals 11 buildings and 3.4 million square feet of Class A space. Tenants include Medline, Amazon, Jelly Belly and Peloton. Throughout the project, PREMIER worked with Cornerstone Architects Ltd., Swift Structural Design, LJB Inc. and Manhard Consulting Ltd.