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Walgreens
AcquisitionsLouisianaRetailSoutheast

Marcus & Millichap Brokers $4.9M Sale of Walgreens-Occupied Retail Property in Franklin, Louisiana

by Julia Sanders

FRANKLIN, LA. — Marcus & Millichap has arranged the sale of a 14,820-square-foot net-leased retail property located at 2030 Main St. in Franklin. The property, which is net-leased to Walgreens, sold for $4.9 million. Brennan Clegg, Mark Ruble and Chris Lind of Marcus & Millichap represented the seller, a limited liability company, in the transaction. David Cutler, Joshua Johnson and Kirk Trammell of Marcus & Millichap represented the buyer, also a limited liability company. Chris Shaheen of Marcus & Millichap assisted in closing this transaction. The Walgreens property is situated 46.6 miles from Lafayette, about 1.3 miles from Franklin Foundation Hospital and within walking distance to a Walmart. Walgreens has 12.5 years left on its lease.

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AcquisitionsIndustrialKansasMidwest

Sealy & Co. Acquires 1.3 MSF Industrial Portfolio in Suburban Wichita

by Kristin Harlow

PARK CITY, KAN. — Sealy & Co. has acquired a 1.3 million-square-foot industrial portfolio in Park City, a suburb just north of Wichita. The purchase price was undisclosed. The portfolio consists of four fully occupied distribution centers along North Air Capitol and North Hayes drives. All four of the Class A buildings have been constructed within the last six years. Whitney Kerr of Cushman & Wakefield represented the seller, Murdock Properties LLC. Sealy’s Jason Gandy and Davis Gibbs led the acquisition on behalf of Sealy.

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AcquisitionsMidwestMinnesotaMultifamilySeniors Housing

JLL Arranges $27.3M Sale of Active Adult Community Near Minneapolis

by Kristin Harlow

MAPLEWOOD, MINN. — JLL Capital Markets has arranged the $27.3 million sale of Frost English Silver, a newly built, luxury apartment community for residents age 55 and older in Maplewood, a suburb of Minneapolis. The property’s 107 units average 876 square feet each. Amenities include a fitness center, outdoor patio, community room, salon, indoor pool and heated underground parking. Located at 1957 English St., Frost English Silver is within walking distance of parks, lakes, trails and golf courses. Josh Talberg, Mox Gunderson, Dan Linnell, Adam Haydon and Ken Dayton of JLL represented the seller, Sherman Associates. Jeff Lepley of JLL arranged acquisition financing on behalf of the buyer, an affiliate of Axial Real Estate Advisors LLC. JLL is providing the seven-year, fixed-rate Fannie Mae loan.

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AcquisitionsIllinoisIndustrialLee & AssociatesMidwest

Lee & Associates Brokers Sales of Two Industrial Buildings Totaling 78,248 SF in Batavia, Illinois

by Kristin Harlow

BATAVIA, ILL. — Lee & Associates of Illinois has brokered the sales of two industrial buildings totaling 78,248 square feet in the Chicago suburb of Batavia. The sales prices were undisclosed. In the first transaction, a 58,286-square-foot facility at 400-500 N. Raddant Road sold to MJM Intergalactic Properties. Michael Androwich Jr. of Lee & Associates represented the seller, Clark Tile. Mike Antonelli of Brown Commercial represented the buyer. In the second transaction, a 19,962-square-foot building at 1141 N. Raddant Road sold to Green Land Technologies. Androwich brokered the transaction and represented the seller, Papa Nicholas.

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AcquisitionsIllinoisIndustrialMidwest

E. Formella & Sons to Relocate Operations to 45,594 SF Facility in Oak Forest, Illinois

by Kristin Harlow

OAK FOREST, ILL. — E. Formella & Sons, a global condiment manufacturing company, has sold its 32,880-square-foot facility at 411 E. Plainfield Road in Countryside, Ill. The company has since purchased a 45,594-square-foot property at 16425 S. Kilbourn Ave. in Oak Forest. Sales prices were not provided. Terri Alexander of Transwestern represented E. Formella in the sale of its former property. Alexander, along with colleague Alex Genova, represented E. Formella in its site selection and purchase of the new facility. Chet Evans and Kiefer Price of Hilco Real Estate represented American Blue Ribbon Holdings LLC, which was the seller of the Oak Forest property. Countryside KC LLC purchased the Countryside facility.

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IllinoisLeasing ActivityMidwestOffice

Farmer’s Business Network Signs 43,000 SF Office Lease in Chicago’s Fulton Market

by Kristin Harlow

CHICAGO — Farmer’s Business Network (FBN) has signed a 43,000-square-foot office lease at 1320 W. Fulton St. in Chicago’s Fulton Market district. The company will take occupancy of the entire third and fourth floors. Originally built in 1916 to house a Chicago Fire station, the building spans 121,000 square feet. Jeff Newcom and Holly Duran of Colliers Chicago represented FBN in the lease. FBN is an ag-tech platform and farmer-to-farmer network with a mission to help reduce the cost of production and maximize value of farmers’ crops.

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DFW-North-Logistics-Center-Grapevine
AcquisitionsIndustrialTexas

CBRE Negotiates Sale of 202,140 SF Industrial Property Near DFW International Airport

by Taylor Williams

GRAPEVINE, TEXAS — CBRE has negotiated the sale of a 202,140-square-foot industrial property located near Dallas-Fort Worth (DFW) International Airport in Grapevine. DFW North Logistics Center consists of two buildings that were constructed in 2008 and feature 21- to 30-foot clear heights and parking space for up to 100 trailers. Randy Baird, Jonathan Bryan, Ryan Thornton and Eliza Bachhuber of CBRE represented the seller, an affiliate of Olympus Ventures, in the transaction. Boston-based STAG Industrial purchased the asset, which was fully leased at the time of sale, for an undisclosed price.

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AcquisitionsIndustrialSelf-StorageTexas

Marcus & Millichap Brokers Sale of 492-Unit Self-Storage Facility in Newcastle, Oklahoma

by Taylor Williams

NEWCASTLE, OKLA. — Marcus & Millichap has brokered the sale of Riverside Boat & RV Storage, a 492-unit facility in Newcastle, a southern suburb of Oklahoma City. The property spans 161,316 net rentable square feet of space. Bryan Quaschnick, Brandon Karr and Danny Cunningham of Marcus & Millichap represented the seller, a private owner who developed the facility, and procured the buyer in the transaction. Both parties requested anonymity.

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DevelopmentHealthcareTexas

CBK Interests, Saber Street Break Ground on 126,113 SF Medical Office Building in West Houston

by Taylor Williams

HOUSTON — A partnership between two locally based boutique real estate firms, CBK Interests and Saber Street, has broken ground on the Kelsey-Seybold Clinic — Memorial Villages, a build-to-suit project for Houston-based provider Kelsey-Seybold. The project includes a 126,113-square-foot medical office building and a seven-story parking garage. Kirksey Architecture provided design and engineering services for the project, and Tellepsen has been selected as the general contractor. First Horizon Bank provided construction financing. Completion is slated for July 2022.

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2626-Cole-Dallas
AcquisitionsOfficeTexas

Partners Group, Accesso Sell 120,599 SF Office Building in Uptown Dallas

by Taylor Williams

DALLAS — Global investment firm Partners Group and Florida-based Accesso have sold 2626 Cole, a 120,599-square-foot office building in the Uptown/Turtle Creek area of Dallas. The partnership acquired the building in 2014 and implemented a value-add program. Current tenants include WorkSuites, Republic Editorial and Annandale Capital. Andrew Levy, Todd Savage and Parker McCormack of JLL represented Partners Group and Accesso in the transaction. Metro Seattle-based Talon Private Capital purchased the asset for an undisclosed price.

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