WACO, TEXAS — Envases Group, a Mexico-based provider of aluminum cans, will open a 450,000-square-foot manufacturing and distribution facility in Waco. Operations at the facility are expected to create about 120 full-time jobs, with another 500 or so jobs to be created through construction and indirect uses such as building maintenance and product distribution. The Waco operation will focus on aluminum beverage containers commonly used for soft drinks, beers, energy drinks, teas and non-carbonated beverages. Completion is slated for late 2021. Founded in 1993, Envases Group owns and operates 56 plants, three sales offices and seven distribution centers in Europe, Asia and the Americas.
FARMERS BRANCH, TEXAS — Weitzman has brokered the sale of a 95,488-square-foot building formerly occupied by Atlanta-based furniture retailer Haverty’s in the northern Dallas metro of Farmers Branch. The building offers a second-generation showroom/warehouse with highway frontage and visibility, as well as a mezzanine level for showroom and office space. David Zoller of Weitzman represented the seller, a Dallas-based limited partnership, in the transaction. Joe Doye of Westin Co. represented the buyer.
SAN ANTONIO — NorthMarq has arranged an $8 million loan for the refinancing of Crownridge Centre, a 41,590-square-foot office building located on the north side of San Antonio. Bryan Leonard of NorthMarq placed the debt through an undisclosed life insurance company on behalf of the locally based sponsor. The financing was structured with a fixed interest rate and a fully amortizing 20-year term. The building is leased to tenants in the financial, medical and energy sectors.
CHICAGO — Parkside Realty Inc. has opened Fulton East, a 12-story, next-generation office building in Chicago’s Fulton Market District. The speculative project features high-tech features for employee health, hygiene, safety and wellness such as hands-free elevators, a state-of-the-art air and surface disinfection system, open-air terraces and a rooftop park. The 90,000-square-foot development also features retail space and is located at 215 N. Peoria St. Each floor offers 10,605 square feet with a private outdoor terrace. The building’s top floors feature a multi-level penthouse office suite. An 8,000-square-foot rooftop park offers tenants additional outdoor space. Chicago-based Clayco and its in-house architect Lamar Johnson Collaborative served as builder and designer. Chicago-based interior designer Holly Hunt designed the building’s lobby.
INDIANAPOLIS — Newmark has brokered the sale of The Avenue, a 358-bed student housing property near Indiana University-Purdue University Indianapolis (IUPUI). The asset features one-, two- and four-bedroom units with a variety of floor plans. The property sits on 3.4 acres directly adjacent to the northern edge of campus. Ryan Lang, Jack Brett and Debbie Corson of Newmark represented the seller, Preiss Cos., in a partnership with Investcorp. Atlanta-based Student Quarters was the buyer. IUPUI is a core campus of Indiana University that also offers Purdue University degrees. It is the result of a 1969 merger between Purdue Indianapolis Extension Center and Indiana University Indianapolis.
EAGAN, MINN. — Peak Capital Partners has acquired Royal Oaks Apartments in Eagan for an undisclosed price. The 231-unit luxury apartment complex is located at 3515 Federal Drive. Royal Oaks is less than one mile from Eagan’s retail hub and also features convenient access to I-494 and the Metro Orange line. Built in 1987, the property underwent substantial unit renovations and amenity upgrades during the time the previous owner, Timberland Partners, held the asset. Ted Ambramson, Keith Collins and Abe Appert of CBRE Minneapolis Multifamily represented Timberland in the sale.
ELMHURST, ILL. — World Wholesale Inc., a distributor for convenience stores, has signed a 27,523-square-foot industrial lease at 845 N. Larch Ave. in Elmhurst. The recently constructed property, situated near the Chicago O’Hare International Airport, is now fully occupied. Christopher Lydon and Ryan Hanley of Avison Young represented the owner, Alpha Industrial Properties, in the lease transaction. Brian Colson and Brian Pomorski of Avison Young represented the tenant.
TOLEDO, OHIO — Reichle Klein Group has arranged the sale of a 65,200-square-foot industrial facility in Toledo for $1.8 million. The property sits on 2.7 acres at 0 Water St. Jerry Malek of Reichle Klein represented the seller, Norfolk Southern Railway Co. Downtown Toledo Development Corp. purchased the asset.
NEW YORK CITY — Owners Rosemark Management and Levin Management have unveiled the redevelopment of the 850,000-square-foot Paramount Building, located at 1501 Broadway in Manhattan. MKDA designed the redevelopment of the 32-story office building, which was originally constructed in 1926 as the East Coast headquarters for Paramount Pictures. The property now offers prebuilt suites ranging in size from 1,000 to 45,000 square feet with various health and wellness features integrated throughout the workspaces and common areas. Rosemark and Levin began a $50 million capital improvement program at the Paramount Building in 2018, upgrading mechanical systems and corridors and adding new food and beverage uses. Newmark has been tapped to lease the office space.
JERSEY CITY, N.J. — New Jersey-based REIT Mack-Cali Corp. has sold a 203,335-square-foot office building located at 581 Main St. in the Northern New Jersey city of Woodbridge for $61 million. The property recently underwent a capital improvement program that featured a renovated lobby and a new café and conference center. A subsidiary of Plymouth Rock Group Cos. purchased the asset and will use the building as its New Jersey headquarters. Cushman & Wakefield brokered the deal. The transaction comes as part of Mack-Cali’s stated effort to divest its suburban office assets and follows the company’s $12.7 million sale of 7 Campus Drive in Morristown two weeks ago.