INDIANAPOLIS — StorageMart has opened a new self-storage facility on East Washington Street in Indianapolis. The property offers 785 units with 82,159 rentable square feet of climate-controlled space in assorted sizes. Security features include 24/7 video surveillance, PIN entry access and motion sensor lighting. Founded in 1999 in Missouri, StorageMart operates more than 250 locations across the United States, Canada and the United Kingdom.
PLYMOUTH, MINN. — Colliers has arranged the sale of a 31,780-square-foot office building in the Minneapolis suburb of Plymouth for an undisclosed price. The property at 13305 12th Ave. North includes 2,500 square feet of warehouse space. Nick Leviton and Laura Moore of Colliers represented the seller, a local partnership. Jason Sell of Cushman & Wakefield represented the undisclosed buyer. The property was occupied until the onset of the COVID-19 pandemic.
DUBUQUE, IOWA — Quantum Real Estate Advisors Inc. has negotiated the $2.6 million sale of a newly completed property occupied by Starbucks in Dubuque, a city in eastern Iowa. The building, which is located across the street from a Hy-Vee grocery store, traded at a cap rate of 6.1 percent. Zack Hilgendorf and Nick Hilgendorf of Quantum represented the seller, a Midwest-based developer. Steve Moore of Quantum represented the buyer, a Midwest-based investor.
SAN ANTONIO — Colliers Mortgage has provided $16.8 million in HUD-insured, construction-to-permanent financing for Culebra Road Apartments, a 199-unit affordable housing project in San Antonio. The property will offer one-, two- and three-bedroom units, all of which will be subject to income restrictions, and amenities such as a pool, fitness center, playground, business center, clubhouse, activities room and outdoor grilling and dining stations. Jeff Rogers of Colliers Mortgage originated the financing, which was structured with a 40-year term. The borrower was an entity doing business as Culebra Road Apartments LP.
IRVING, TEXAS — Orlando-based real estate investment and brokerage services firm Foundry Commercial has purchased a 287,000-square-foot office building located at 4000 Horizon Way in Irving with plans to convert the property into an industrial facility. Foundry Commercial plans to reposition the property, which was built on 24.2 acres in 1999, into a three-building complex that totals roughly 337,000 square feet. The industrial buildings will feature rear-load configurations and roughly 70 combined trailer parking spaces. Construction is set to begin in the first quarter. Holt Lunsford Commercial will market the property for lease.
ADDISON, TEXAS — A partnership between two developers, Houston-based Lovett Industrial and Dallas-based Rosewood Property Co., will develop Addison Innovation Center, a 242,062-square-foot industrial project that will be located on the northern outskirts of Dallas. The project will comprise two buildings on a 12.2-acre site. Building 1 will be a redevelopment of an existing, 140,698-square-foot flex office building, and Building 2 will be a newly constructed warehouse spanning 101,364 square feet. Colliers is the leasing agent for Addison Innovation Center. JLL arranged construction financing. LGE Design Group is designing the project.
HOUSTON — Lee & Associates has brokered the sale of a 27,800-square-foot industrial building located at 15550 Export Plaza Drive in North Houston. The building is located on a 7.6-acre site within World Houston Business Park. According to LoopNet Inc., the building features 15- to 20-foot clear heights and 9,000 square feet of office space. Jason English and Stuart Peterson of Lee & Associates represented the seller, White Hall Real Estate, in the transaction. Trey Erwin III and Josh Carl, also with Lee & Associates, represented the buyer, Equity Resource Partners.
GREENSBORO, N.C. — Topgolf has broken ground on a new, two-level venue in Greensboro. Situated along I-40 at Guilford College Road, the venue will comprise 72 outdoor climate-controlled hitting bays, with each bay featuring lounge furniture or high-top tables. Additionally, the new Topgolf will include a full-service restaurant, private event rooms and an outdoor area with yard games. The opening is scheduled for late 2024 and is expected to create 300 jobs. Dallas-based Topgolf operates more than 90 venues worldwide.
PFLUGERVILLE, TEXAS — Peinado Construction, a Texas-based general contractor that specializes in industrial projects, has opened a new office in the northern Austin suburb of Pflugerville. Peinado first established its presence in the region with industrial projects for major end users like Caterpillar and Carrier Corp. and most recently completed a 141,282-square-foot data center project in Pflugerville for Skybox and Prologis. Ed Motley will lead the new office as executive vice president.
JACKSONVILLE, FLA. — CBRE has brokered the sale of a 300,240-square-foot industrial building located at 9909 Pritchard Blvd. in Jacksonville. Newly constructed and dubbed Building 200, the property is situated within the master-planned Florida Gateway Logistic Park. The building features 36-foot clear heights, cross-dock loading, 86 dock doors, four drive-in doors, ESFR sprinkler systems, 168 car parking spaces and 138 trailer parking spaces. IPEX USA, a PVC and thermoplastic piping system supplier, fully occupies the property. Clarion Partners acquired the building in a joint venture with Diamond Realty Investments on behalf of a separate account. CT Realty sold the property for an undisclosed price. Jose Lobón, Trey Barry, Frank Fallon, Chris Riley, Royce Rose, Alain Bonvecchio and Gabriel Braun of CBRE represented the seller in the transaction.