AUBURN HILLS, MICH. — Bernard Financial Group has arranged $2 million in permanent financing for a 21,256-square-foot office property in Auburn Hills. Dennis Bernard and Joshua Bernard arranged the loan on behalf of the borrower, Auburn Office Center LLC. StanCorp Life Insurance Co. provided the loan, terms of which were undisclosed.
ROCKWALL, TEXAS — A partnership between Atlanta-based developer Seefried Industrial Properties and San Antonio-based USAA Real Estate has broken ground on Rockwall Park 30, a 315,440-square-foot logistics center that will be located on the northeastern outskirts of Dallas. The 23-acre site is located just off I-30. Rockwall Park 30’s two rear-load buildings, which are being developed on a speculative basis, will offer 32-foot clear heights and a total of 88 dock-high doors and four grade-level doors. Pross Design Group is the project architect, and E.E. Reed is the general contractor. KBC Advisors is leasing the development, which is slated for a fourth-quarter completion.
ALEDO, TEXAS — Dallas-based development and investment firm Journey Capital has completed Harvest at Aledo, a 107-unit seniors housing project located about 20 miles west of Fort Worth. The property consists of 87 assisted living and memory care units and 20 independent living residences. In addition, Harvest at Aledo offers an all-day bistro, personalized care plans, leisure activities and restaurant-style dining options. Journey Capital has tapped Civitas Senior Living to operate the community.
FORT WORTH, TEXAS — Apparel retailer Dickies has signed an 84,000-square-foot office headquarters lease at 500 Taylor St. in downtown Fort Worth. Chris Doggett and Cullen Donohue of Stream Realty Partners represented the landlord, Illinois-based SADA Capital Parnters, in the lease negotiations. Randy Cooper and Wills Bauer, also with Stream, represented Dickies. SADA Capital Partners purchased the six-story building in June 2022 and is in the process of launching a capital improvement program.
GRAND PRAIRIE, TEXAS — U-Haul will open a 59,000-square-foot warehouse in Grand Prairie, located roughly midway between Dallas and Fort Worth, that will be used to store portable storage and moving containers known as “U Boxes.” The 2.5-acre site is located at the northeast corner of I-20 and State Highway 360. The single-story, tilt-wall building will be situated adjacent to an existing U-Haul self-storage facility. Dallas-based MYCON General Contractors has begun construction on the project, and completion is scheduled for May.
EUGENE, ORE. — CRG and its partner Kenter Capital have secured the land and construction financing for Chapter at Eugene, a 12-story, 119-unit student housing community adjacent to the University of Oregon campus in Eugene. Construction is slated to begin later this month, with delivery scheduled for 2024 to coincide with the start of the 2024-25 academic year. Located at 754 E. 13th Ave., the 302-bed Chapter at Eugene will offer a mix of studio, two-, three-, four- and five-bedroom apartments, with preleasing scheduled to begin in early fall 2023. The furnished residences will feature wood-style flooring, kitchens with quartz countertops and stainless steel appliances, living rooms with smart TVs, and in-unit laundry. Community amenities will include a 5,000-square-foot rooftop recreation deck with a dog run, dining areas and fire pits with seating, and a 12th-floor resident lounge with a demonstration kitchen and study rooms, as well as a fitness center, yoga room, study areas, resident storage and bicycle parking on the ground floor. Byline Bank provided construction financing, Seattle-based Jackson Main Architecture served as architect and Springfield, Ore.-based John Hyland Construction is serving as general contractor.
CHANDLER, ARIZ. — Portland, Ore.-based Schnitzer Properties has completed the construction of Queen Creek Commerce Center, a two-building industrial project at Queen Creek Road and Hamilton Street in Chandler. Situated on 34 acres, Queen Creek Commerce Center features 560,352 square feet of industrial space. Three tenants have pre-leased the development: Intel, NEHP and Horsepower Automotive Group. Rick Collins of JLL brokered the leases on behalf of Schnitzer Properties.
FLOWER MOUND, TEXAS — Locally based brokerage firm STRIVE has arranged the sale of Cross Timbers Village, a 19,333-square-foot retail strip center in Flower Mound, located in the northern-central part of the metroplex. Anchored by grocer Tom Thumb, the center was fully leased at the time of sale. Other tenants include Great Clips, Palio’s Pizza Café, New View Optometry and Happy Pediatric Dental. Hudson Lambert of STRIVE represented the California-based seller in the deal. Other terms of sale were not disclosed.
WHITTIER, CALIF. — Fairfield Carmenita LP has completed the disposition of Alivia Apartments, a multifamily community in Whittier, to NexGen Properties Group for $49.6 million, or $387,695 per unit. Completed in 2022, Alivia Apartments features seven residential buildings comprising 68 one-bed/one-bath units and 60 two-bed/two-bath units. All units offer stainless steel appliances, washers/dryers, kitchen islands with storage, and wood-style plank flooring. Community amenities include a resort-style pool and spa, fitness center, social lounge, dog park and outdoor fire lounge. Kevin Green, Joseph Grabiec and Greg Harris of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the deal. Michael Derk of Marcus & Millichap Capital Corp. arranged a 10-year, $19.1 million, non-recourse loan for the buyer.
ST. GEORGE AND LINDON, UTAH — 1031 Crowdfunding has acquired its first two seniors housing communities in Utah. Totaling 178 units of assisted living and memory care, the communities are in the Provo suburb of Lindon and St. George, which is located approximately 130 miles northeast of Las Vegas. Both properties total 156,473 square feet across 5.85 acres, offer seven-year leases, and are within a four-mile radius of local hospitals. “As 1031 Crowdfunding continues to grow, we plan to move into other regions of the country,” says Edward Fernandez, president and CEO of 1031 Crowdfunding. “Seniors housing facilities are needed throughout the country as the baby boomers continue to age, so we continue to look for opportunities to grow our real estate portfolio in targeted markets where we see seniors housing growth potential. The Utah market is attractive to us because the state offers an ideal environment for businesses, lower taxes and a mix of diverse and varied industries that draw people who want to live and work in the state.” The facilities, Spring Gardens St. George and Spring Gardens Lindon, were built in 2011 and 2016. Avista Senior Living is the operator.