CINCINNATI — Quantum Real Estate Advisors Inc. has brokered the sale of a 14,490-square-foot retail property in Cincinnati for $5.2 million. The property was originally leased to Walgreens, which closed four years ago. Walgreens sub-let the building to Dollar General, which maintains about seven years on its lease. Daniel Waszak of Quantum represented the seller, a New York City-based private investor. A Texas-based real estate investment fund was the buyer.
CINCINNATI — Quantum Real Estate Advisors Inc. has brokered the sale of a 14,490-square-foot retail property in Cincinnati for $5.2 million. The property was originally leased to Walgreens, which closed four years ago. Walgreens sub-let the building to Dollar General, which maintains about seven years on its lease. Daniel Waszak of Quantum represented the seller, a New York City-based private investor. A Texas-based real estate investment fund was the buyer.
MADISON HEIGHTS, MICH. — Meal kit company Hello Fresh has signed a 28,800-square-foot industrial lease at 32701 Edward Ave. in Madison Heights, a northern suburb of Detroit. Sean Jamian of Dominion Real Estate Advisors LLC represented the undisclosed landlord. Colin McCausland of JLL represented the tenant in the five-year lease.
MADISON HEIGHTS, MICH. — Meal kit company Hello Fresh has signed a 28,800-square-foot industrial lease at 32701 Edward Ave. in Madison Heights, a northern suburb of Detroit. Sean Jamian of Dominion Real Estate Advisors LLC represented the undisclosed landlord. Colin McCausland of JLL represented the tenant in the five-year lease.
SAN ANTONIO — Kansas City-based NorthPoint Development will build Foster Commerce Center, a 2.2 million-square-foot industrial park that will be located about 10 miles east of downtown San Antonio. The six-building development will be constructed in phases, with the initial phase comprising two buildings totaling 650,000 square feet. NorthPoint Development expects the project to entail a total capital investment of $230 million and to create more than 1,000 new permanent jobs in addition to about 950 construction jobs. Construction is scheduled to begin before the end of the summer. Stream Realty Partners has been tapped to lease the development.
AUSTIN, TEXAS — JLL has negotiated the sale of Woodland Self Storage, a 952-unit facility located south of downtown Austin along I-35. The 92,288-square-foot, climate-controlled facility was built in 2019 and was 70 percent occupied at the time of sale. Steve Mellon, Brian Somoza, Adam Roossien and Matthew Wheeler of JLL represented the seller, Austin-based Endeavor Real Estate Group, in the transaction. Utah-based REIT Extra Space Storage purchased the asset for an undisclosed price.
AUSTIN, TEXAS — Global Student Accommodation (GSA) has acquired Waterloo Tower, a 796-bed student housing community located near the University of Texas at Austin. The community offers fully furnished units with bed-to-bath parity and private patios overlooking the university’s West Campus area. Shared amenities include a fitness center with a spin studio, onsite coffee shop, pool with a hot tub and sauna and private study rooms. Austin-based LV Collective sold the property for an undisclosed price. GSA will turn management of the community over to its operating partner, Yugo, and rebrand the asset as Yugo Austin Waterloo.
KINGWOOD, TEXAS — High Street Residential has broken ground on Residences at Kingwood, a 289-unit multifamily project that will be located on the northern outskirts of Houston. High Street Residential is developing the project, which will consist of 240 apartments and 49 townhomes, in partnership with Japanese homebuilder Daiwa House Group. Residences will come in one-, two- and three-bedroom formats and will be furnished with stainless steel appliances, custom cabinetry and individual washers and dryers. Select units will also feature private balconies/patios and garages. Amenities will include a pool, grilling areas, fitness center with a yoga/Pilates studio, an outdoor workout area, resident lounge with an art gallery and an entertaining kitchen and a conferencing and remote-work suite. Residents will also have access to a putting green, bocce ball courts, pickleball court, multiple outdoor dining areas and the Kingwood Greenbelt trail system. W Partnership is the development’s architect, and Robinson & Co. will lead the landscape design. Cadence McShane is the general contractor. Completion is slated for late 2023.
LIVERPOOL, N.Y. — A joint venture between New York-based Taconic Capital Advisors and Friedman Real Estate has purchased three industrial buildings totaling 831,000 square feet in Liverpool, a suburb of Syracuse. The properties were acquired as part of a $46 million portfolio sale that included a 407,000-square-foot distribution center in Waterford, Mich. Rite Aid Corp. sold the buildings and will continue to lease back the space at two of the three buildings as distribution centers for its e-commerce platform. The third building, which is the smallest of the trio at 87,000 square feet, remains vacant. As part of the transaction, the joint venture also purchased more than 50 acres for possible future expansion.
HOUSTON — Lee & Associates has arranged the sale of an 80,000-square-foot retail property in West Houston that houses a car dealership. The 7.7-acre site at 6737 Southwest Freeway was originally built in 1965, according to LoopNet Inc. Nathan Denton, Justin Tunnel and Chase Cribbs of Lee & Associates represented the buyer, HGreg Investment of California, in the transaction. The seller and sales price were not disclosed, although LoopNet identified a listing price of roughly $19 million.