CHICAGO — Echo Global Logistics and VSA Partners have renewed their office leases at 600 West Chicago, an office and retail property owned by Sterling Bay in Chicago’s River West submarket. Echo, a provider of technology-enabled transportation and supply chain management services, will remain in its 185,000-square-foot space that it has called home since its inception in 2005. VSA, a global creative agency and tenant in the building since 2008, restructured its lease to 25,000 square feet. Andrea VanGelder, Kellen Monti, Matt Carolan and Paul Giannopoulos of JLL represented Echo, while Steven Livaditis and Jon Milonas of CBRE represented VSA. Russ Cora and Austin Lusson represented Sterling Bay on an internal basis.
NAPERVILLE AND WARRENVILLE, ILL. — Greenstone Partners has brokered the sale of a three-building office portfolio in Naperville and Warrenville for $16 million. Named the Cantera-Naperville Office Portfolio, the collection of assets totals 130,000 rentable square feet and is 86 percent leased. The properties are located at 4300 and 4580 Weaver Parkway in Warrenville and 1601 Bond St. in Naperville. Jason St. John and Paul Tesdal of Greenstone represented the seller, a Naperville-based real estate operator. The duo also procured the buyer, a Chicagoland-based family office that completed a 1031 exchange.
JEFFERSONVILLE, IND. — Berkadia has provided a $15.2 million Freddie Mac loan for the acquisition of Beech Grove Apartments in Jeffersonville near Louisville. Built in 1972, the apartment complex features 182 units. Amenities include a fitness center, dog park and pool. John Schorgl of Berkadia Kansas City secured the loan on behalf of the borrower, California-based Revitate Cherry Tree. The 10-year loan features five years of interest-only payments.
FRIENDSWOOD, TEXAS — French lending institution Natixis has provided a $50.7 million acquisition loan for The Grayson at Baybrook, a 322-unit apartment community located in the southern Houston suburb of Friendswood. The property features one- and two-bedroom units and amenities such as a pool, fitness center, resident clubhouse and a sand volleyball court. Tucker Knight and Carl Rasmussen of Berkadia placed the loan on behalf of the borrower, SRJ Real Estate Investments, which will use a portion of the proceeds to fund capital improvements.
WACO, TEXAS — The Multifamily Group (TMG), a Dallas-based brokerage firm, has negotiated the sale of Heritage Quarters, a 374-bed student housing community located about 1.5 miles from Baylor University’s campus in Waco. Built in 2008, the mid-rise property sits on 2.7 acres and totals 106 units. The amenity package comprises a pool, 24-hour fitness center, billiards room, business center and a conference room. Danny Wieland of TMG represented the undisclosed seller in the transaction. Paul Yazbeck, also with TMG, represented the buyer.
KEMAH, TEXAS — San Francisco-based investment firm Hamilton Zanze has purchased Park at Waterford Harbor, a 200-unit apartment complex in Kemah, located southeast of Houston. The property was built in 1996 and was 96.5 percent occupied at the time of sale. Units average 972 square feet across seven different floor plans and are furnished with stainless steel appliances, granite countertops and individual washers and dryers. Amenities include a pool, fitness center, dog park and a putting green. Hamilton Zanze plans to make additional capital improvements to select units, as well as building exteriors and amenity spaces, and to transfer management of the property to Denver-based Mission Rock Residential.
FORT WORTH, TEXAS — Elevate Credit Services has signed a 73,984-square-foot office lease renewal at Overton Centre, a 417,465-square-foot development in southwest Fort Worth. The two-building complex features a renovated lobby, fitness center and an auditorium/conference center. Cribb Altman and Cannon Camp of JLL, along with Mike Wyatt of Cushman & Wakefield, represented the tenant in the lease negotiations. Matt Carthey and Jake Neal of Holt Lunsford Commercial represented the landlord, an entity doing business as FLDR/TLC Overton Centre LP.
WESLACO, TEXAS — San Antonio-based Garansuay Group has broken ground on Shops at N Bridge, a 40,000-square-foot retail project in Weslaco, located near McAllen in the Rio Grande Valley. The 10-acre site includes four pads and is situated at the corner of North Bridge Avenue & Expressway 83. Freddy’s Frozen Custard & Steakburgers, Juice Us and Paris Bakery have already signed leases at Shops at N Bridge. A tentative completion date was not released.
BOSTON — Arden Logistics Parks, the industrial investment arm of Philadelphia-based Arden Group, has purchased a portfolio of eight industrial properties totaling roughly 1.3 million square feet that are located throughout southeast Massachusetts. The sales price was $160 million. Specifically, the properties, which were built between 1968 and 2016, are located in Mansfield, Fall River, New Bedford, Seekonk, Attleboro and Norton. Scott Dragos, Chris Skeffington, Doug Jacoby, Anthony Hayes, Tim Mulhall, Roy Sandeman and Dan Hines of CBRE represented the seller, Westbrook Partners, in the transaction. At the time of sale, the portfolio was 97 percent leased to 23 tenants, including Nestle, T-Mobile, Displays2Go and Whirlpool.
BORDENTOWN, N.J. — Cushman & Wakefield has brokered the $60 million sale of a 275,631-square-foot industrial asset located at 201 Elizabeth St. in Bordentown, located outside of Philadelphia in the southern part of the Garden State. Mindy Lissner, Bill Waxman, Christine Eberle, David Gheriani, Chris Griffith, Jeff Volpi and Morgan Nitti of Cushman & Wakefield represented the buyer, Penwood Real Estate Investment Management, in the transaction. Steven Schultz of Newmark represented the seller, The O’Donnell Group.