MESQUITE, TEXAS — Arizona-based Coleman Powersports has signed a 379,620-square-foot industrial lease at Mesquite Airport Logistics Center, located on the eastern outskirts of Dallas. The tenant will occupy the entirety of Building 1, which was part of Phase I at the 2.3 million-square-foot development. Construction of the two-building second phase is underway and expected to be complete next year. Matt Dornak and Ryan Wolcott of Stream Realty Partners represented the landlord, Dalfen Industrial, in the lease negotiations.
SAN ANTONIO — Marcus & Millichap has brokered the sale of Noah’s Ark Self Storage, a 477-unit facility located in the Stone Oak neighborhood of San Antonio. The facility was built on 1.2 acres in 2013 and spans 57,219 net rentable square feet. Dave Knobler and Charles LeClaire of Marcus & Millichap represented the seller, a locally based limited liability company, in the transaction. The duo also procured the buyer, a publicly traded REIT. Both parties requested anonymity.
HOUSTON — Los Angeles-based investment firm CIM Group has sold Ashton on West, a 246-unit apartment community located in the Montrose neighborhood of Houston. The garden-style property offers one- and two-bedroom units and amenities such as a pool, clubhouse, fitness center, outdoor grilling and dining stations and a dog park. The buyer and sales price were not disclosed. CIM Group originally acquired the asset in 2013.
HOUSTON — Locally based brokerage firm Finial Group has negotiated a 26,320-square-foot industrial lease at 6422 Calle Lozano Drive in northwest Houston. Built in 1984 and renovated in 2021, the facility sits on two acres and includes 2,000 square feet of office space. Chase Tucker and William Alcorn of Finial Group represented the undisclosed landlord in the transaction. The name and representative of the tenant were not released.
DETROIT — Bedrock has acquired the Roberts Riverwalk Hotel located at 1000 River Place in Detroit’s East Riverfront neighborhood. The purchase price was undisclosed. The seller was Michael Roberts, a St. Louis-based business mogul, according to Crain’s Detroit Business. The 108-room hotel features 5,500 square feet of banquet and event space as well as 126 parking spaces. Bedrock says this acquisition aligns with its mission to further position the riverfront as an ideal site for sustainable urban development. In the East Riverfront area, Bedrock has previously purchased the former UAW-GM Center for Human Resources and a portfolio of properties previously owned by the Stroh family. Bedrock plans to make additional updates regarding the riverfront in 2023. Bedrock, the real estate arm of Rocket Mortgage founder Dan Gilbert, maintains a portfolio of more than 19 million square feet of office, retail and residential space.
ELKHART, IND. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of an 801,218-square-foot industrial facility in Elkhart for an undisclosed price. Completed in October, the build-to-suit is home to a recreational vehicle tenant. The property, which includes a showroom and office as well as warehouse and distribution space, features a clear height of 30 feet, 56 dock-high doors, a 194-foot truck court and seven drive-in overhead doors. Peter Bauman and Tivon Moffitt of IPA represented the seller and procured the buyer, neither of which were disclosed.
TRAVERSE CITY, MICH. — Woda Cooper Cos. Inc. has broken ground on Annika Place, a $14.7 million affordable housing community in Traverse City. The 53-unit development will be reserved for residents who earn 30 to 80 percent of the area median income. Rental rates are projected to range from $360 to $1,125 per month depending on the income restriction and size of the unit. The Traverse City Housing Commission is providing rental assistance vouchers for eight units. The four-story building will feature amenities such as a community room, computer center, fitness center and rooftop terrace. In honor of the many who serve in the U.S. Coast Guard and the Coast Guard Air Station in Traverse City, Annika Place will honor the memory of Coast Guardsman Douglas Munro by featuring a special lighted flagpole and his namesake for the property’s community room. Munro lost his life at the Guadalcanal in 1942 as a result of heroic measures with his boat that saved the lives of 500 marines. He is the only Coast Guard member to receive the Medal of Honor. Funding for Annika Place comes from Low-Income Housing Tax Credits allocated by the Michigan State Housing Development Authority. Affordable housing finance …
INDIANAPOLIS — Government Investment Partners (GIP) has purchased two adjacent office properties in Indianapolis for $8.2 million. The buildings are located at 4150 and 4160 N. Keystone Ave. just east of Fall Creek Parkway near the Indiana State Fairgrounds. MS Land Holdings LLC sold the 60,000-square-foot building at 4160 N. Keystone, which is fully leased to the State of Indiana on behalf of the Indiana Department of Child Services. LNR Partners sold the other building, which totals 95,157 square feet and is roughly 40 percent leased. It is also home to Department of Child Services offices as well as the Indianapolis Metropolitan Police Department. GIP, which specializes in commercial properties leased to federal, state and local government agencies, now maintains a portfolio of more than 30 buildings in 18 states.
BAYONNE, N.J. — Accurate has begun leasing Citizen Bayonne, a 252-unit waterfront apartment community in Northern New Jersey. Designed by Devereaux & Associates, the property offers studio, one- and two-bedroom units that are furnished with stainless steel appliances, quartz countertops, tile backsplashes and full-size washers and dryers. Amenities include a fitness center, resident lounge, coworking space and a landscaped courtyard with fire pits, grills and a gaming area. Rents start at $2,230 per month for a studio apartment.
NAPERVILLE, ILL. — Halsted Street Deli & Bagel is opening a 1,500-square-foot location at Park Plaza, an office building in the Chicago suburb of Naperville. Accesso owns the building. Slated to open in January, the restaurant will be accessible to tenants of the property as well as the general public. Halsted Street Deli is known for its soups, salads, sandwiches and bagels. The Naperville location will be open from 7:30 a.m. to 2 p.m. each day.