OVERLAND PARK, KAN. — Technology solutions company SnapIT Solutions has signed a 5,894-square-foot office lease at Financial Plaza III in Overland Park. Owned by Group RMC and located at 6900 College Blvd., Financial Plaza III features amenities such as onsite food service, conferencing facilities, covered parking and more. Anné Erickson of JLL represented SnapIT.
BELLEVUE, WASH. — A Intracorp and equity partner HAL Real Estate have purchased a site that houses a vacant, 60,423-square-foot office building in Bellevue for $18 million. The site is located at 3190 160th Ave. SE in the Eastgate neighborhood. The building was constructed in 1982 and was previously leased to Washington Department of Ecology for several decades. Official plans for the site have not yet been announced, but the buyer may execute shorter-term leases at the existing office building until a redevelopment strategy is finalized. Pat Mutzel of Cushman & Wakefield’s Private Capital Group, in collaboration with Jeffrey Cole, Jeff Chiate, Bryce Aberg, Mike Adey, Nico Napolitano and Zach Harman of the firm’s West Coast Capital Markets Group, represented the seller, a private, high-net-worth investment group. Mutzel also advised the sale of the property in December 2019 for a price of $16.3 million.
LOS ANGELES — Byline Bank’s commercial real estate team has provided a $13.6 million construction loan to Madison Capital Group for a new self-storage property in the Los Angeles submarket of Paramount. The infill project will total 845 units, including 841 temperature-controlled units and four non-temperature-controlled units. Madison Capital Partners’ self-storage brand Go Store It will manage the property. Madison will demolish an existing and obsolete industrial property on the site to make way for the self-storage facility. Joanne Campanile, Sam Duros and Ana Garcia of Byline Bank managed the loan transaction on behalf of the borrower, working directly with Eric Lentz of Madison Capital Group Holdings. The Talonvest Capital Team of Eric Snyder, Kim Bishop and Ivan Viramontes brokered the deal.
SAN DIEGO — Cabrillo Credit Union has acquired a 20,060-square-foot office building in the Kearny Mesa submarket of San Diego for $7.9 million. The building is located at 3710 Ruffin Road. It features solar panels, open ceilings, creative office space, private offices, conference rooms, and employee breakrooms and restrooms on each floor. The property was renovated in 2019. CBRE’s Phil Linton and Nick Bonner represented the seller, the Council of Community Clinics, which will lease back a quarter of the building.
GLENDALE, ARIZ. — Axle on Demand has signed a 126,075-square-foot pre-lease at Echo Park 303, a 676,336-square-foot industrial development in Glendale. The renter is the property’s first tenant. The transaction represents Axle on Demand’s sixth metro Phoenix location. It will fill more than half of Echo Park 303’s Building A almost four months before the Class A industrial project is scheduled for completion. Axle on Demand will use the space for third-party logistics services spanning warehousing, fulfilment and IT operations. Echo Real Estate Capital is developing the project. Anthony Lydon, John Lydon and Kelly Royle of JLL represented Echo Real Estate Capital in the pre-lease transaction. John Grady with CBRE represented Axle on Demand.
ALAMEDA, CALIF. — Rubi Laboratories, a California-based biotechnology company, has signed a 16,884-square-foot lease at the Radius @ Harbor Bay campus in Alameda. Radius is a nearly 700,000-square-foot life sciences and innovation campus located at 1501 Harbor Bay Parkway. The property features a new backup power generator, HVAC service with 100 percent outdoor air, 13-foot clear heights and an outdoor screened equipment pad. Newmark’s Conor Ranahan represented the landlord and ownership group, Paceline Investors and True North Management Group, while the firm’s Daniel Pivnick and Ari Rokeach represented Rubi Laboratories. Newmark previously represented the landlord and ownership group in the 43,645-square-foot, full-building lease to Vivani in December 2022 at the same campus.
FARMERS BRANCH, TEXAS — Fort Worth-based investment firm Fort Capital has acquired Spring Valley Tech Center, an industrial property that comprises nine buildings totaling 178,835 square feet in the northern Dallas metro of Farmers Branch. At the time of sale, the portfolio was 92 percent leased to 40 tenants in sectors such as retail, healthcare, technology, distribution and home services. The seller and sales price were not disclosed.
OKLAHOMA CITY — LSC Development has acquired a 161,190-square-foot retail building formerly occupied by Sears in Oklahoma City with plans to redevelop the property into a mixed-use facility with retail self-storage uses. The site is adjacent to a Walmart Neighborhood Market and across the street from the 31-acre INTEGRIS Southwest Medical Center. Michael Brewster, Drew Quinn, Brad Peterson, El Warner and Charley Simpson of Colliers represented the undisclosed seller in the transaction.
HOUSTON — Baker Katz has arranged three retail leases totaling 19,050 square feet for Pet Supplies Plus in metro Houston. The pet care brand will occupy 6,000 square feet in the northern suburb of Conroe beginning in the fourth quarter. Additionally, Pet Supplies Plus will open a 5,550-square-foot store in Cypress and a 7,500-square-foot space in north Katy in the second quarter of 2024. Brett Levinson of Main Street Commercial Partners represented the landlords in the Conroe and Katy deals. Brad Kilbride of Retail Leasing represented the landlord in the Cypress deal.
DALLAS — Law firm Simon Greenstone Panatier has signed a 28,366-square-foot office lease at Bank of America Plaza in downtown Dallas. The 72-story, 1.8 million-square-foot complex offers a fitness center, conference facilities, tenant lounge, car wash services and multiple onsite dining options. Ryan Hoopes, Tom Sutherland and Dean Dahlsten of Cushman & Wakefield represented the tenant in the lease negotiations. Russ Johnson and Joel Pustmueller of JLL represented the landlord, Metropolis Investment Holdings Inc.