Property Type

Evergreen Trading Acquires 179,000 SF Distribution Center in Wisconsin

by Kristin Harlow February 17, 2021

RHINELANDER, WIS. — Evergreen Trading has acquired a 179,000-square-foot distribution center in Rhinelander in northern Wisconsin. The purchase price was undisclosed. Formerly occupied by Petco, the facility features 150,000 square feet of warehouse space, 20,000 square feet of office space and 9,000 square feet of cold storage space. Justin Felix and Andy Lubinski of CBRE represented Petco in the sale. David Opper of CBRE represented Evergreen, which is a financial solutions and media investment company. The property was purchased as part of a larger business deal between Petco and Evergreen, which has since relisted the facility for sale or lease with Felix and Lubinski.

February 17, 2021

Acquisitions Illinois Midwest Retail

Boulder Group Brokers $3.9M Sale of Walgreens-Occupied Property in Skokie, Illinois

by Kristin Harlow February 17, 2021

SKOKIE, ILL. — The Boulder Group has brokered the $3.9 million sale of a Walgreens-occupied property in Skokie. The single-tenant, net-leased building is located at 9150 Skokie Blvd and spans 11,837 square feet. The Walgreens lease expires in 2024. Randy Blankstein and John Feeney of Boulder represented the seller, a Midwest-based individual. A West Coast-based real estate fund was the buyer.

February 17, 2021

Acquisitions Industrial Michigan Midwest Self-Storage

Marcus & Millichap Arranges Sale of 764-Unit Self-Storage Facility Near Grand Rapids

by Kristin Harlow February 17, 2021

COMSTOCK PARK, MICH. — Marcus & Millichap has arranged the sale of a CubeSmart self-storage property in Comstock Park, about six miles north of Grand Rapids. The facility spans 79,420 square feet with 764 climate-controlled units. The property, which opened in January 2020, sits on 3.2 acres at 4150 Alpine Ave. Brian Kelly, Brett Hatcher and Gabriel Coe of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. The team also secured the buyer, Pogoda Cos. The sales price was undisclosed.

February 17, 2021

Industrial Leasing Activity Midwest Missouri

Sunpro Solar Signs 20,380 SF Industrial Lease in Riverside, Missouri

by Kristin Harlow February 17, 2021

RIVERSIDE, MO. — Sunpro Solar has signed a 20,380-square-foot industrial lease at Belgium Business Park Building 2 in Riverside, just north of Kansas City. The Class A property spans 100,000 square feet and is fully leased. Mark Long and John Hassler of Newmark Zimmer represented the landlord, a subsidiary of Green Bay Packaging. Nick Tinnel of True North Industrial Realty LLC represented the tenant, which is a solar panel installation company.

February 17, 2021

Leasing Activity Michigan Midwest Retail

Pet Supplies Plus to Open New Store in Ypsilanti, Michigan

by Kristin Harlow February 17, 2021

YPSILANTI, MICH. — Pet Supplies Plus has signed a lease for 6,800 square feet at Paint Creek Plaza, a Kroger-anchored shopping center in Ypsilanti. The retailer plans to open the new store later this year. Tjader Gerdom & Larry Siedell of Gerdom Realty & Investment represented Pet Supplies Plus in the lease transaction. Grenadier Properties owns and manages Paint Creek Plaza, which is located on Whittaker Road.

February 17, 2021

Acquisitions Office Texas

BH Properties Acquires 10-Story Office, Parking Structure in San Antonio’s RiverWalk Area

by Taylor Williams February 17, 2021

SAN ANTONIO — Los Angeles-based investment firm BH Properties has acquired the Navarro Building and Garage, a 10-story commercial property in San Antonio’s RiverWalk area that consists of 100,000 square feet of office space above a 605-space parking structure. The building was originally constructed in 1968 to provide parking for the San Antonio World’s Fair and was vacant at the time of sale. BH Properties is planning a capital improvement program to completely transform the office component into institutional quality Class A space designed either for multi- or single-tenant uses. Planned improvements include refurbishing of balconies, redesigning of public spaces such as lobbies and restrooms and installing of new lighting throughout. BH also plans to modernize the parking systems in the garage with new access controls and EV charging stations.

February 17, 2021

Acquisitions Hospitality Texas

NewcrestImage Sells 132-Room Hyatt House Hotel in Frisco

by Taylor Williams February 17, 2021

FRISCO, TEXAS — Locally based hospitality developer NewcrestImage has sold the 132-room Hyatt House hotel in Frisco. The pet-friendly hotel offers amenities such as a fitness center, pool, business center, meeting rooms and a complimentary breakfast. NewcrestImage sold the property, which it completed in 2016, to an undisclosed hospitality group based in the Northeast.

February 17, 2021

Acquisitions Industrial Self-Storage Texas

HPI Real Estate Purchases 775-Unit Extra Space Self-Storage Facility in San Antonio

by Taylor Williams February 17, 2021

SAN ANTONIO — HPI Real Estate has purchased a 775-unit self-storage facility that is situated on a 2.4-acre tract at 5611 Lone Star Parkway in San Antonio. The facility, which is operated by Extra Space Storage, opened in 2017 and spans 93,050 net rentable square feet. Zack Urow and Ryan Clark of Tampa-based SkyView Advisors represented the undisclosed seller in the transaction.

February 17, 2021

Loans Office Texas

Ariel Property Advisors Arranges $14M Acquisition Loan for Houston Office Building

by Taylor Williams February 17, 2021

HOUSTON — New York City-based Ariel Property Advisors has arranged a $14 million acquisition loan for a 140,000-square-foot office building in the Clear Lake submarket of Houston. Eli Weisblum of Ariel Property Advisors placed the loan five-year loan, which was structured with a 4.25 percent interest rate and a 30-year amortization schedule, through an undisclosed lender. The property was fully leased at the time of the loan closing. The borrower was also not disclosed.

February 17, 2021

Acquisitions Multifamily Seniors Housing Texas

Blueprint Brokers Sale of 36-Unit Seniors Housing Property in Kerrville, Texas

by Taylor Williams February 17, 2021

KERRVILLE, TEXAS — Blueprint Healthcare Real Estate Advisors has arranged the sale of Villagio of Kerrville, a 36-unit seniors housing community in Kerrville, approximately 65 miles northwest of San Antonio. The community is located near Kerrville’s primary retail corridor and less than three miles from two large hospitals — Peterson Regional Medical Center and the Kerrville State Hospital. New Haven Assisted Living & Memory Care, a regional Texas-based operator, was the buyer. The seller and price were not disclosed.

February 17, 2021

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