Property Type

CellSite Solutions Purchases 190,000 SF Industrial Flex Building in Cedar Rapids

by Kristin Harlow March 12, 2021

CEDAR RAPIDS, IOWA — CellSite Solutions has purchased a 190,000-square-foot industrial flex building in Cedar Rapids for its new headquarters. The property, situated on 22 acres at 4150 C. St., features a mix of office, light manufacturing, warehouse and distribution space. CellSite, a provider of telecommunications equipment and services for secondary markets, began operations in 2010 in West Des Moines. Angie Glick-Martin of GLD Commercial represented CellSite in the acquisition. The seller and sales price were undisclosed.

March 12, 2021

Development Midwest Missouri Office

Clayco Completes Construction of 125,000 SF Office Building in Metro St. Louis

by Kristin Harlow March 12, 2021

CREVE COEUR, MO. — Clayco has completed the construction of EDGE@WEST, a four-story, 125,000-square-foot office building in Creve Coeur within metro St. Louis. Seneca Commercial Real Estate was the developer for the Class A project. Designed by Lamar Johnson Collaborative, the development features enhanced mechanical systems that increase healthy air flow as well as touchless doors and self-cleaning antimicrobial surfaces. Floor-to-ceiling glass provides natural light. Amenities include a fitness center, coffee bar, fireplace area, outdoor lounges and collaboration space.

March 12, 2021

Acquisitions Michigan Midwest Office

L. Mason Capitani CORFAC International Brokers Sale of Four-Property Office Portfolio in Livonia, Michigan

by Kristin Harlow March 12, 2021

LIVONIA, MICH. — L. Mason Capitani CORFAC International has brokered the sale of a portfolio of four office properties in Livonia. The properties include: Johnstowne at 16801 Newburgh Road; Charles Towne at 34441 W. Eight Mile Road; Pembroke Center at 37651-37695 Pembroke Ave.; and James Towne at 37701-37785 Pembroke Ave. The buildings were recently renovated, resulting in an overall vacancy rate of 85 percent. Mason Capitani of the brokerage represented the buyer, LREH Michigan LLC. The seller and sales price were undisclosed. L. Mason Capitani CORFAC International will oversee leasing efforts and the company’s affiliate, Liberty Property & Asset Management, will oversee property management.

March 12, 2021

Development Hospitality Texas

White Lodging Opens 613-Room Marriott-Branded Hotel in Downtown Austin

by Taylor Williams March 12, 2021

AUSTIN, TEXAS — Indiana-based hospitality development and management firm White Lodging has opened the Austin Marriott Downtown, a 613-room hotel located at 304 E. Cesar Chavez St. in the state capital. In addition to the guestrooms, the 31-story building houses 25 suites, four food and beverage concepts and 60,000 square feet of meeting and event space. Additional amenities include a pool and a fitness center.

March 12, 2021

Acquisitions Industrial Midwest Minnesota

STAG Industrial Acquires 80,000 SF Industrial Building Near Minneapolis

by Kristin Harlow March 12, 2021

INVER GROVE HEIGHTS, MINN. — STAG Industrial Inc. has acquired an 80,000-square-foot industrial building in Inver Grove Heights, about 20 miles southeast of Minneapolis. The property was recently completed as a build-to-suit for Simpson Strong-Tie, a provider of structural products for the construction of homes and buildings. Known as InverPoint Business Park I, the building features a clear height of 24 feet, a training center and roughly 7,200 square feet of office space. Judd Welliver, Ryan Watts, Sonja Dusil, Bentley Smith and Tom Holtz of CBRE Minneapolis represented the developer and seller, United Properties. The property is the first of five planned projects to be completed in the InverPoint Business Park.

March 12, 2021

Acquisitions Multifamily Texas

MLG Capital Acquires 384-Unit Pecos Flats Apartments in San Antonio

by Taylor Williams March 12, 2021

SAN ANTONIO — Wisconsin-based investment firm MLG Capital has acquired Pecos Flats, a 384-unit apartment community in the Westover Hills area of San Antonio. The property offers one-, two- and three-bedroom units and amenities such as a pool, fitness center, resident clubhouse, coffee bar, dog park and a pet washing station. The transaction marks MLG Capital’s first investment in San Antonio and 40th residential acquisition in Texas. The seller was not disclosed.

March 12, 2021

Industrial Leasing Activity Texas

Flexible Co-Warehousing Operator Saltbox Opens 66,000 SF Facility in Metro Dallas

by Taylor Williams March 12, 2021

FARMERS BRANCH, TEXAS — Saltbox, a purpose-built, flexible co-warehousing space for entrepreneurs and startups, has opened its second location in Farmers Branch. The 66,000-square-foot facility offers 100 private co-warehousing suites and 15 office spaces, in addition to an array of modern office amenities and conveniences. Saltbox opened its first 27,000-square-foot facility in Atlanta in 2019.

March 12, 2021

Industrial Leasing Activity NAI Texas

NAI Partners Negotiates 23,172 SF Industrial Lease in Metro Austin

by Taylor Williams March 12, 2021

ROUND ROCK, TEXAS — NAI Partners has negotiated a 23,172-square-foot industrial lease for Westwinds Wholesale Doors in the northern Austin suburb of Round Rock. The company will occupy space within Settlers Crossing, which is a four-building industrial park spanning approximately 330,000 square feet, according to the Austin Chamber of Commerce. NAI Partners’ Troy Martin represented the tenant in the lease negotiations. Adam Green with Stream Realty represented the landlord.

March 12, 2021

Acquisitions Hawaii Net Lease Retail Western

Realty Income Corp. Buys 21-Property Convenience Store Portfolio in Hawaii for $109.4M

by Amy Works March 12, 2021

HAWAII — A subsidiary of Realty Income Corp. has acquired a 21-property gas station/convenience store portfolio located throughout Hawaii. Par Pacific Holdings sold the portfolio in a fee-simple sale-leaseback transaction for $109.4 million. The portfolio includes 12 properties in O’ahu, two facilities in Kauai, four properties in Maui and three properties on the island of Hawaii. The transaction also included a new master lease agreement to lease back the sites on a triple-net basis. D. Andrew Ragsdale, Ken Hedrick, Jerry Hopkins, Kristian Neilson and John Curtis of Newmark’s Net Lease Capital Market, in cooperation with Jackson Nakasone of NAI CBI Hawaii, represented the seller in the transaction.

March 12, 2021

Mountain-West-Industrial-Park-Las-Vegas-NV

Development Industrial Nevada Western

Nigro Construction Begins First Phase of Mountain West Warehouse Project in Las Vegas

by Amy Works March 12, 2021

LAS VEGAS — Nigro Construction has started construction of Mountain West Industrial Park in southwest Las Vegas. The 252,900-square-foot warehouse project is located at 7210 W. Post Road. The first phase consists of three industrial shell buildings on 16.5 acres, with completion slated for third-quarter 2021. The first phase will offer units ranging from 6,400 square feet to 71,500 square feet with 30-foot minimum clearance heights in the warehouse areas, 10-foot glass storefront office entries and metal canopies. The second phase includes an additional 45,000 square feet of industrial space on the remaining acres of the property.

March 12, 2021

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