SAN DIEGO — CBRE has negotiated the sale of a freestanding restaurant property located at 16785 Bernardo Center in San Diego. Kim Family Trust sold the asset to a private buyer for $3.9 million. The new owners plan to open a restaurant, Sapphire Indian, in the 8,915-square-foot building. Built in 1987, the asset is within Rancho Bernardo Town Center. Reg Kobzi, Michael Peterson and Joel Wilson of CBRE represented the seller, while AGAS Real Estate represented the buyer in the transaction.
CONROE, TEXAS — Colliers has brokered the sale of a 43,200-square-foot, single-tenant industrial building in Conroe, about 40 miles north of Houston. The site spans 9.9 acres and offers immediate access to I-45. Michelle Soderberg of Colliers represented the seller, an entity doing business as JMBG Inc., in the transaction. Wade Nelson of Nelson Properties represented the buyer, Spring Glass & Mirror Ltd., which will also use the building as its new headquarters. The sales price was not disclosed.
LEWISVILLE, TEXAS — Planet Fitness will open a 20,105-square-foot gym at Vista Ridge Plaza in Lewisville, a northern suburb of Dallas. The opening is slated for January. Oliver Willman, Baylor Worman, Grayson Duyck and William Carr of Matthews Real Estate Investment Services represented the undisclosed landlord in the lease negotiations. The tenant representative was also not disclosed. Other tenants at Vista Ridge Plaza include Harbor Freight Tools, McAllister’s Deli and Smoothie King.
FARMERS BRANCH, TEXAS — Multinational conglomerate Honeywell International has signed a 17,755-square-foot industrial lease in the northern Dallas metro of Farmers Branch. According to LoopNet Inc., the building at 12880 Valley Branch Lane was built in 1997, totals 75,502 square feet and features 24-foot clear heights. Nathan Denton and Adam Graham of Lee & Associates represented the landlord, GID Industrial, in the lease negotiations. Neil Schorr of Realty Insight Group represented Honeywell.
TRENTON, N.J. — Garden State Commercial Properties has sold a 240,000-square-foot office building located at 240 W. State St. in downtown Trenton to an undisclosed buyer that plans to redevelop the 16-story building for residential usage. The new complex will offer studio, one- and two-bedroom apartments and amenities such as a fitness center, pool and ground-floor café. In addition, the company will renovate the building’s enclosed parking garage. Completion of the conversion is slated for 2026. Jerry Fennelly of Fennelly Associates represented both parties in the sale.
OAK BROOK, ILL. — Skender has completed the transformation of the former McDonald’s corporate campus in the Chicago suburb of Oak Brook into the new headquarters for Ace Hardware. The 250,000-square-foot development is located at 2915 Jorie Blvd. Ace’s new headquarters consists of open workstations, 150 conference rooms, 12 café/pantry spaces and a variety of collaboration areas and amenities. Originally built in the 1970s and designed by Dirk Lohan, grandson of famed architect Mies van der Rohe, the former McDonald’s campus consists of three buildings across more than 80 acres. The campus has sat empty since 2019 when the fast food giant moved its headquarters to downtown Chicago. The renovation repurposed many of the main building’s original architectural elements, including a large atrium in the center. The first floor of the parking garage is now an amenity suite that includes a fitness center, conference center, multipurpose room and large cafeteria with commercial kitchen. The project team included CBRE Design Collective as architect and ESD, now named Stantec Consulting Services, as engineer.
OAKBROOK TERRACE, ILL. — JLL Capital Markets has arranged the sale of The Overlook at Oakbrook, a 54,120-square-foot retail center in the Chicago suburb of Oakbrook Terrace. Built from 2022 to 2023, the fully leased property consists of seven single-tenant and multi-tenant buildings. Some of the tenants include Guidepost, Lazy Dog, Panera and Vet Emergency Group. Alex Sharrin, Michael Nieder, John Detlaff and Noel O’Donnel of JLL represented the seller, GW Properties, and procured the buyer, MetLife Investment Management.
OMAHA, NEB. — Investors Realty Inc. has brokered the sale of a 66,011-square-foot office building in Omaha for $6.2 million. The property at 8420 W. Dodge Road is 76 percent leased to Senior Market Sales. Ember Grummons and JP Raynor of Investors Realty represented the seller, an entity doing business as 8420 LLC. Joseph Failla of Atrium Properties represented the buyer, an entity doing business as 5332 So. 138th St. LLC.
HAZELWOOD, MO. — IDI Distributors, an insulation distribution company, has signed a roughly 30,000-square-foot industrial lease at Hazelwood Business Park in suburban St. Louis. Industrial Commercial Properties owns the new business park, which is a redevelopment of the former St. Louis Mills Mall. Dan Lesinski and Billy Spence of Newmark Zimmer are the leasing agents for Hazelwood Business Park. The development can accommodate tenants ranging in size from 30,000 to 700,000 square feet.
INDIANAPOLIS — The Life Properties, the property management and construction management affiliate of Olive Tree Holdings, is underway on a $6.1 million capital improvement program at The Life at Harrison Trails in Indianapolis. The project is currently 75 percent leased. Completion is slated for the fourth quarter of 2024. Upgrades include select interior renovations to 302 of the community’s 378 residences as well as upgrades to the office clubhouse and fitness center. Exterior improvements include new paint, repairs to the community’s sidewalk concrete, parking lot, dog park, resident pool, roofing, playground and signage. The project also includes the implementation of a new security system and significant landscaping improvements and cleanup. There are also sustainable upgrades, such as the installation of low-flow plumbing retrofits and LED lighting. The Life at Harrison Trails was built in 1973.
