Property Type

JLL Capital Markets Negotiates $3.3M Sale of El Pollo Loco-Occupied Restaurant Property in San Rafael, California

by Amy Works November 16, 2023

SAN RAFAEL, CALIF. — JLL Capital Markets has brokered the $3.3 million sale of a single-tenant retail building located at 910 Anderson Drive in the Bay Area city of San Rafael. El Pollo Loco, a fast-casual restaurant chain, occupies the 2,626-square-foot building on a triple-net lease that is corporate guaranteed and has 13 years remaining on its term with options for extension. Eric Kathrein and Warren McClean of JLL Retail Capital Markets handled the transaction. The names of the seller and buyer were not released.

November 16, 2023

California Industrial Loans Western

PSRS Arranges $11.7M Refinancing for Industrial Property in El Segundo, California

by Amy Works November 16, 2023

EL SEGUNDO, CALIF. — PSRS has arranged $11.7 million in refinancing for an industrial building on Allied Way in the Los Angeles suburb of El Segundo. The freestanding, single-tenant building features 35,890 square feet of industrial space on 1.7 acres of land. The property includes 11,000 square feet of office space on the first and second floors, equating to one third of the overall net rentable area. Michael Thorp and Ari Zeen of PSRS secured the loan, which features a 10-year term and 25-year amortization with a “significant amount” of cash-out proceeds for the undisclosed borrower. A life insurance company provided the financing.

November 16, 2023

Acquisitions Colorado Industrial Self-Storage Western

Marcus & Millichap Brokers Sale of 79,605 SF Self-Storage Facility in Aurora, Colorado

by Amy Works November 16, 2023

AURORA, COLO. — Marcus & Millichap has arranged the sale of a StorQuest-managed self-storage facility situated on the southeast side of the E-470 loop in Aurora. A local private equity group sold the asset to an out-of-state firm for an undisclosed price. The 79,605-square-foot asset features a multi-story, climate-controlled building and 11 single-story buildings offering a total of 261 climate-controlled units and 353 non-climate-controlled units. The facility offers 24-hour video surveillance, interior and exterior lighting, secure digital keypad ingress/egress, a leasing office with conference room, prominent storage and wide drive aisles. Adam Schlosser and Charles LeClaire of Marcus & Millichap’s Denver office represented the seller and procured the buyer in the deal.

November 16, 2023

Development Industrial Texas

Jackson-Shaw Nears Completion of 488,000 SF Industrial Project in Metro Austin

by Taylor Williams November 16, 2023

GEORGETOWN, TEXAS — North Texas-based developer Jackson-Shaw is nearing completion of Phase I of Crosspoint Business District, a project in the northern Austin suburb of Georgetown that will add 488,000 square feet of industrial space to the local supply. Phase I comprises three buildings across 61.7 acres. Onx Homes preleased the entire 204,000 square feet of Building 1 and plans to take occupancy in December, and Grander Distributing recently signed a lease for 41,950 square feet at Building 3. Powers Brown designed Crosspoint Business District, and Joeris is serving as the general contractor. Construction began in summer 2022, and Buildings 2 and 3 are now fully complete.

November 16, 2023

Development Multifamily Texas

High Street Residential Completes 363-Unit Legacy Square Apartments in Plano

by Taylor Williams November 16, 2023

PLANO, TEXAS — Developer High Street Residential has completed Legacy Square, a 363-unit apartment community located north of Dallas in Plano. Designed by GFF with interiors by Britt Design Group, Legacy Square features one-, two- and three-bedroom units that are furnished with stainless steel appliances, granite countertops, island kitchens, custom cabinetry and tile backsplashes. Private balconies/yards are also available in select units. Amenities include a pool, fitness center, outdoor grilling and dining areas, a playground, cyberlounge, business center, clubroom and a package room. Rental rates start at $1,665 per month for a one-bedroom apartment.

November 16, 2023

Development Restaurant Retail Texas

Younger Partners to Renovate, Rebrand Crockett Row Shopping Plaza in Fort Worth

by Taylor Williams November 16, 2023

FORT WORTH, TEXAS — Dallas-based Younger Partners will renovate Crockett Row, a shopping, dining and entertainment district that spans five city blocks in Fort Worth’s Cultural District. Upgrades will include the addition of new gathering spaces, enhanced wayfinding and improved signage and lighting, as well as the installation of new elevators in parking garages. Younger Partners will also rebrand the property as Artisan Circle. Construction is scheduled to begin in January and to last 12 to 18 months. Crockett Row currently features a roster of 25 tenants and will welcome several new users— restaurants Terra Mediterranean, La Cabrona and Si Tapas and Rose Couture Nail Bar — next spring.

November 16, 2023

Industrial Leasing Activity Lee & Associates Texas

Lee & Associates Negotiates 49,542 SF Industrial Lease in Northwest Dallas

by Taylor Williams November 16, 2023

DALLAS — Lee & Associates has negotiated a 49,542-square-foot industrial lease in northwest Dallas. According to LoopNet Inc., the property at 119 Regal Row was built in 1978 and totals 230,710 square feet. Stephen Williamson of Lee & Associates represented the landlord, Dogwood Industrial Properties, in the lease negotiations. Jeremy Mercer of Mercer Co. represented the tenant, Kit Composites, which serves the wind energy and marine industries.

November 16, 2023

Industrial Leasing Activity Texas

MIINC Mechanical Contractors Signs 36,800 SF Industrial Lease Renewal in Northwest Dallas

by Taylor Williams November 16, 2023

DALLAS — MIINC Mechanical Contractors has signed a 36,800-square-foot industrial lease renewal at 1960 W. Northwest Highway in northwest Dallas. The single-tenant building was originally constructed in 1983. Scott Voelkel and Cullen Dickey of Dickey Property Co. represented the landlord, an unnamed Dallas-based family partnership, in the lease negotiations. The tenant was self-represented.

November 16, 2023

Development Industrial Southeast Virginia

Rockefeller Group, Matan to Develop 5 MSF Logistics Park Near Port of Virginia

by John Nelson November 16, 2023

SUFFOLK, VA. — Rockefeller Group and Matan Cos. have partnered to develop Port 460 Logistics Center, a 5 million-square-foot industrial park in Suffolk. The 500-acre property, which will provide direct access to the Port of Virginia via U.S. Route 58, is zoned for heavy industrial, logistics, advanced manufacturing, life sciences and warehouse uses. Rockefeller and Matan plan to break ground on Phase I, which will comprise five buildings totaling 2.4 million square feet, in 2025. Matan led the two-year process of rezoning the Port 460 site and will continue to manage further entitlements. The company identified Rockefeller Group as a potential development partner through a process led by JLL’s D.C. Capital Markets team. The joint venture partnership selected JLL as the exclusive leasing agent of Port 460. The Port of Virginia is expected to be the deepest seaport on the East Coast following completion of its multibillion-dollar infrastructural improvements in 2024.

November 16, 2023

Florida Industrial Loans Southeast

BWE Secures Financing for 362,710 SF Adaptive Reuse Industrial Facility in Fort Pierce, Florida

by John Nelson November 16, 2023

FORT PIERCE, FLA. — BWE has secured an undisclosed amount of permanent financing for a converted industrial facility in Fort Pierce, a city midway between Orlando and Miami. Situated near I-95 and the Florida Turnpike, the 362,710-square-foot flex property was formerly Orange Blossom Mall. Now known as Renaissance Business Park, the property features loading docks, drive-in loading, private restrooms, HVAC, 18-foot clear ceilings, a fiber optic cable feed and a suite of interior and exterior security cameras and fire safety measures. The borrower and owner, Fort Lauderdale-based Prime Rock Real Estate Capital, recently made exterior improvements to the property, including a new roof, façade, irrigation system, sewer line, signage, overhead doors for tenant spaces, driveways for tenant entrances, outdoor lighting, overhauled landscaping and modern flood protection. Kevin Hicks and Michael Powell of BWE originated the loan through an unnamed life insurance company on behalf of Prime Rock.

November 16, 2023

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