Property Type

NAI Columbia Sells 40,883 SF Retail Center in Columbia, South Carolina

by John Nelson February 10, 2023

COLUMBIA, S.C. — NAI Columbia has sold a 40,883-square-foot retail center located at 3900 N. Main St. in Columbia’s NOMA District for an undisclosed price. Dubbed the “Ultra Hub,” a 30,000-square-foot O’Reilly Auto Parts store, warehouse and distribution center anchors the property. North Main Kidney Center and TitleMax are also tenants at the shopping center. NAI Columbia’s development team purchased the property, formerly home to a BI-LO grocery store, in December 2021 before making extensive renovations. Ben Kelly and Patrick Chambers of NAI Columbia brokered the sale to the undisclosed buyer.

February 10, 2023

California Development Multifamily Seniors Housing Western

Clearwater Living Opens 117-Unit Seniors Housing Community in Glendora, California

by Jeff Shaw February 10, 2023

GLENDORA, CALIF. — Clearwater Living has opened Clearwater at Glendora, a 117-unit assisted living and memory care community in Glendora. The property is a two-story, 117,000-square-foot property offering 88 assisted living and 29 memory support apartments with studio, companion, one- and two-bedroom layouts. It is the only assisted living and memory care community in Glendora, according to the developer. Clearwater at Glendora is the company’s 10th seniors housing community in California, Arizona and Nevada, with plans for additional developments in the pipeline.

February 10, 2023

Acquisitions Illinois Midwest Retail

Mid-America Brokers Sale of 116,992 SF Shopping Center in Countryside, Illinois

by Kristin Harlow February 10, 2023

COUNTRYSIDE, ILL. — Mid-America Real Estate Corp. has brokered the sale of Salem Square in Countryside, a southwest suburb of Chicago. The sales price was undisclosed. The 116,992-square-foot shopping center is fully leased to tenants such as TJ Maxx, HomeGoods, Marshalls, ATI Physical Therapy, Famous Footwear, Mangia Mangia, Great Clips, Card Frenzy and Magic Nails. Rick Drogosz and Joe Girardi of Mid-America represented the seller, IRC Retail Centers/DRA Advisors. A private real estate investment firm was the buyer.

February 10, 2023

Illinois Leasing Activity Midwest Office

Network Services Co. Signs 40,000 SF Office Lease at Schaumburg Towers in Suburban Chicago

by Kristin Harlow February 10, 2023

SCHAUMBURG, ILL. — Distribution company Network Services Co. has signed a 40,000-square-foot office lease at Schaumburg Towers in the Chicago suburb of Schaumburg. The two-building, 882,000-square-foot office property is now 78 percent leased. Since 2017, American Landmark Properties has invested more than $20 million to renovate the asset. Steve Kling and David Florent of Colliers represented the landlord in the lease. James Otto and Hank Cox of CBRE represented the tenant.

February 10, 2023

Acquisitions Midwest Missouri Retail

Marcus & Millichap Negotiates $6.9M Sale of Retail Center in Blue Springs, Missouri

by Kristin Harlow February 10, 2023

BLUE SPRINGS, MO. — Marcus & Millichap has negotiated the $6.9 million sale of Copperleaf Village in Blue Springs, about 19 miles southeast of downtown Kansas City. The 32,978-square-foot retail center was 82 percent leased at the time of sale. Tenants consist of medical, dental, restaurant, convenience, fitness and insurance companies. The property was originally built in 1973 and renovated in 2006. Zach Turner, Scott Wiles, Erin Patton and Craig Fuller of Marcus & Millichap represented the seller, a Kansas City-based partnership. The team also procured the buyer, an out-of-state limited liability company.

February 10, 2023

Indiana Leasing Activity Midwest Restaurant Retail

Tinker Coffee to Open at 360 Market Square in Downtown Indianapolis

by Kristin Harlow February 10, 2023

INDIANAPOLIS — Tinker Coffee Co. is opening a new location at 360 Market Square in downtown Indianapolis this spring. The 360 Market Square location will be Tinker’s fourth café, but its first standalone offering that is not in the airport or a food hall. Tinker currently maintains two locations in the Indianapolis International Airport and one in the AMP food hall, an artisan marketplace and food hall located in the 16 Tech Innovation District in downtown Indianapolis. The downtown café will be open seven days a week. Flaherty & Collins is the owner and developer behind 360 Market Square, an apartment building with an attached Whole Foods Market.

February 10, 2023

Kansas Loans Michigan Midwest Missouri Multifamily

Maverick Commercial Mortgage Arranges $6.9M Loan for Refinancing of Three Midwest Mobile Home Parks

by Kristin Harlow February 10, 2023

KANSAS, MISSOURI AND MICHIGAN — Maverick Commercial Mortgage has arranged a $6.9 million loan for the refinancing of three mobile home parks in the Midwest. The properties include Green Acres in Emporia, Kan.; Maplewoods in Odessa, Mo.; and Milwood MHC in Kalamazoo, Mich. Park Place Communities owns and manages the portfolio. All three properties are slated to undergo major capital improvement projects. A Midwest debt fund provided the loan.

February 10, 2023

Bayport-146-Distribution-Center-Seabrook

Development Industrial Texas

TDC Completes 454,600 SF Industrial Project in Seabrook, Texas

by Taylor Williams February 10, 2023

SEABROOK, TEXAS — Transwestern Development Co. (TDC) has completed Bayport 146 Distribution Center, a 454,600-square-foot industrial project in Seabrook, about 30 miles southeast of Houston. The site is adjacent to Port Houston’s Bayport Container Terminal. Bayport 146 Distribution Center, which can accommodate a single or multiple tenants, features 36-foot clear heights, 150- to 180-foot truck court aprons and parking for up to 74 trailers. Construction began in April 2022. Transwestern is also marketing the facility for lease on behalf of its developer affiliate.

February 10, 2023

Industrial Loans Texas

IPA Arranges $17.6M Acquisition Loan for Houston Industrial Portfolio

by Taylor Williams February 10, 2023

HOUSTON — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged a $17.6 million acquisition loan for a portfolio of four industrial properties in Houston. The portfolio includes a fifth property in Cedar Rapids, Iowa, and the quintet of assets totals 229,775 square feet. Frank Montalto and Dean Giannakopoulos of IPA originated the five-year loan, which was structured with a 65 percent loan-to-value ratio and a 25-year amortization schedule. The names of the borrower and direct lender, a local bank, were not disclosed.

February 10, 2023

Acquisitions Multifamily Seniors Housing Texas

Cushman & Wakefield Brokers Sale of 76-Unit Seniors Housing Property in Round Rock, Texas

by Taylor Williams February 10, 2023

ROUND ROCK, TEXAS — Cushman & Wakefield has brokered the sale of Franklin Park of Round Rock, a 76-unit assisted living and memory care community located about 20 miles north of downtown Austin. Completed in 2017 by Franklin Development Co., the property offers memory care and assisted living services. Richard Swartz, Jay Wagner, Jim Dooley and Jack Griffin of Cushman & Wakefield represented the seller, a partnership between Franklin Park Senior Living and an unnamed institutional investor, in the transaction. The buyer was Inspired Healthcare Capital.

February 10, 2023

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