Property Type

CIP Real Estate Acquires Industrial Property in South Charlotte for $28M

by Alex Tostado September 3, 2020

CHARLOTTE, N.C. — CIP Real Estate has acquired Whitehall Tech Center in Charlotte for $28 million. The property comprises two buildings totaling 205,000 square feet. The acquisition also includes a 7.5-acre parcel for the development of up to 75,000 square feet of warehouse space. At the time of sale, one of the two buildings was fully leased to an undisclosed tenant while the other building was nearly vacant. CIP plans to implement a $3.2 million renovation of the nearly vacant building from a call center to a multi-tenant industrial space. Further details and the timeline of the renovation were not disclosed. Whitehall Tech Center is located within the Whitehall master-planned community, nine miles south of downtown Charlotte and Charlotte Douglas International Airport. CIP acquired the property from a joint venture between CrossHarbor Capital Partners and a separate CIP Real Estate entity.

September 3, 2020

Development Illinois Midwest Multifamily

McShane Completes Construction of The Elaine Luxury Apartments in Northbrook, Illinois

by Kristin Harlow September 3, 2020

NORTHBROOK, ILL. — McShane Construction Co. has completed construction of The Elaine, a 304-unit luxury apartment complex in Northbrook, a northern suburb of Chicago. Finger Cos. was the developer and Niles Bolton Associates served as architect. Located at 1000 Skokie Blvd., the five-story property features a fitness center, business center, conference room, golf simulator, dog run, two pools and three courtyards. Floor plans range from 689 to 1,229 square feet.

September 3, 2020

Acquisitions Midwest Ohio Retail

Gosula Realty Acquires 100,999 SF Shopping Center in Delaware, Ohio

by Kristin Harlow September 3, 2020

DELAWARE, OHIO — Gosula Realty Ltd. has acquired Glennwood Commons in Delaware, about 30 miles north of Columbus. The purchase price was undisclosed. Tenants include OfficeMax, Dollar Tree and Pet Supplies Plus. CBRE’s National Retail Partners Midwest team represented both Gosula and the seller, Principal Real Estate Investors.

September 3, 2020

Development Illinois Midwest Multifamily

Montessori Elementary School Opens at Optima Signature Apartment Tower in Chicago

by Kristin Harlow September 3, 2020

CHICAGO — Guidepost Montessori has opened at Optima Signature, an apartment tower in Chicago’s Streeterville neighborhood. The 14,000-square-foot elementary school will serve grades one through six. The new location is part of Guidepost Montessori’s larger growth in Chicago, with three new early childhood campuses opening in Lincoln Park, Schaumburg and Edgewater for a total of seven schools. Optima Inc. is the developer and owner for the 57-story, 490-unit Optima Signature. Other retail tenants at the property include Egg Harbor Café, GoodVets, Runaway Fitness and Bedazzled Nails & Spa.

September 3, 2020

Acquisitions Illinois Midwest Retail

Marcus & Millichap Brokers Sale of 9,900 SF Dollar General-Occupied Property in Polo, Illinois

by Kristin Harlow September 3, 2020

POLO, ILL. — Marcus & Millichap has brokered the sale of a 9,900-square-foot retail property occupied by Dollar General in Polo in northwest Illinois. Renovated for Dollar General in 2009, the building is located at 107 E. Dixon St. Daniel Hurd and Edward Kemp of Marcus & Millichap marketed the property on behalf of the seller, a private investor. The duo also secured and represented the buyer, a limited liability company.

September 3, 2020

Industrial Leasing Activity Texas

Swiss American CDMO Signs 131,670 SF Industrial Lease in Carrollton, Texas

by Taylor Williams September 3, 2020

CARROLLTON, TEXAS — Swiss American Contract Development & Manufacturing Organization (CDMO), a locally based provider of first aid products, has signed an industrial lease in the northern Dallas suburb of Carrollton. The firm is effectively doubling its footprint in North Texas by occupying 131,670 square feet of warehouse and distribution space located at 1540 Luna Road, within a half-mile from its headquarters.

September 3, 2020

Affordable Housing Development Multifamily Texas

NHP Foundation to Develop 149-Unit Affordable Housing Project in Midtown Houston

by Taylor Williams September 3, 2020

HOUSTON — The NHP Foundation, a nonprofit developer based in New York City, will build a 149-unit affordable housing community at 3300 Caroline St. in the Midtown area of Houston. While all residences will be reserved for renters earning less than the area median income, 20 percent of the units will be set aside for homeless people going through transitional housing programs. Magnificat Houses Inc. is the landowner and NHP Foundation’s equity partner on the project. The City of Houston Department of Housing & Community Development has provided $15 million in financing for the project, which has a target completion date of December 2022.

September 3, 2020

Development Office Texas

KDC Completes 100,000 SF Corporate Campus for SRS Distribution in McKinney, Texas

by Taylor Williams September 3, 2020

MCKINNEY, TEXAS — Developer KDC has completed a 100,000-square-foot corporate campus in McKinney for building materials supplier SRS Distribution Inc. The property is located within the Hub 121 mixed-use development and is expected to house about 150 employees. Construction on the four-story, Class A building, which offers indoor and outdoor amenity space, began in March 2019. Gensler designed the project, and Adolfson & Peterson served as the general contractor.

September 3, 2020

Acquisitions Industrial Texas

Blue Road Investments Acquires 51,160 SF Warehouse in El Paso

by Taylor Williams September 3, 2020

EL PASO, TEXAS — Dallas-based Blue Road Investments LLC has acquired a 51,160-square-foot warehouse and distribution building located at 9555 Plaza Circle in El Paso. The property was fully leased at the time of sale to three tenants in the logistics and transportation industry. Will Brown of locally based brokerage firm Sonny Brown & Associates brokered the deal.

September 3, 2020

Loans Multifamily Oklahoma Seniors Housing Texas

Carnegie Capital Arranges $11.5M Refinancing Loan for Skilled Nursing Portfolio in Oklahoma

by Taylor Williams September 3, 2020

OKLAHOMA — Carnegie Capital has arranged an $11.5 million loan for the refinancing for three skilled nursing facilities totaling 330 licensed beds in southern-central Oklahoma. The borrower is a local owner-operator, and the lender is an Arkansas-based regional bank. J.D. Stettin of Carnegie Capital arranged the loan, which features a fixed 3.99 percent interest rate for five years. The names of the facilities were not disclosed.

September 3, 2020

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