ORLANDO, FLA. — DIX Developments LLC will construct University Econ Executive Center, a planned $9 million office campus in Orlando. The property will offer 1,520-square-foot office condos, a 4,640-square-foot medical office building and a 20,000-square-foot spec office building. John Kurtz of Stirling International Real Estate is handling the leasing efforts on behalf of the developer and will target users seeking headquarters space. DIX Developments has nearly completed two of the office condos and is making preparations to break ground on the spec office building. A timeline for completion was not disclosed. The property is located at the corner of Econlockhatchee Trail and University Boulevard, four miles west of the University of Central Florida and 11 miles northeast of downtown Orlando.
FORT WORTH, TEXAS — Los Angeles-based CIM Group has acquired Junction 20/35, a 1.1 million-square-foot logistics center located at 7550 Oak Grove Road in south Fort Worth The property was built in 1989 and has been renovated several times over the years, most recently in 2018 to include freezer and cold storage space. The sale also included an adjacent 14.4-acre parcel. The seller was not disclosed.
FORT WORTH, TEXAS — Civitas Senior Living has completed construction of The Grandview of Chisholm Trail, a seniors housing community in southwest Fort Worth that features 66 assisted living units and 21 memory care residences. Partners on the project include co-developer Journey Capital, management company Civitas Senior Living, Arrive Architects, Ridgemont Commercial Construction and interior design firm Senior By Design.
DALLAS — Locally based investment firm 180 Multifamily Properties has purchased an undisclosed, 267-unit apartment community located in the central region of the Dallas-Fort Worth metroplex. The property was built in 1983 on 9.3 acres and spans 206,000 net rentable square feet. An undisclosed, California-based firm sold the property. The new ownership will implement a value-add program and rebrand the community.
CARROLLTON, TEXAS — Image Micro Spare Parts, a California-based provider of computer and printer parts, has signed a 42,415-square-foot industrial lease at Luna Distribution Center in the northern Dallas suburb of Carrollton. The property was built in 1998 and spans approximately 250,000 square feet. Eric Crutchfield and Mac Hall of Stream Realty Partners represented the tenant in the lease negotiations. The name and representative of the landlord were not disclosed.
HOUSTON — NAI Partners has brokered the sale of a 25,146-square-foot industrial property located at 7311 Galveston Road in southeast Houston. According to LoopNet Inc., the single-tenant, freestanding property was built in 1980. Clay Pritchett and Zane Carman of NAI Partners represented the buyer, Latitude 17 Holdings LLC, in the transaction. Hache Annamuhammedov and Andy Yaltir of Vita Realty represented the seller, Yilteks Warehouse LLC.
TORRANCE AND COMMERCE, CALIF. — Omninet Capital has purchased two office parks in the metro Los Angeles area for a combined total of $78 million in separate transactions. The buyer was self-represented in both transactions. In the first transaction, TA Associates sold Park Del Amo, a three-building office park located at 2355 and 2377 Crenshaw Blvd. in Torrance, for $39 million. Built in 1985 on 12.8 acres, Park Del Amo features 204,468 square feet of office space. At the time of sale, the campus was 92 percent leased to multiple tenants, including Keenan & Associates, which occupies 43 percent of the property and recently signed a five-year lease extension. Kevin Shannon, Ken White and Michael Moore of Newmark Knight Frank’s (NKF) Capital Markets team represented the seller in the deal. In the second deal, Omninet acquired Commerce Plaza, a two-building office complex located at 5601 E. Slauson Ave. and 5701 S. Eastern Ave. in Commerce. Colony Capital sold the offce campus for $39 million. At the time of sale, 13 tenants including Waste Management, County of Los Angeles and DaVita Medical Management occupied the 194,908-square-foot asset. The County of Los Angeles plans to lease an additional 51,555 square feet, which …
SCOTTSDALE, ARIZ. — Valwood Mesquite LLC has acquired Mesquite Corporate Center, a two-story office building located at 14646 N. Kierland Blvd. in Scottsdale. An undisclosed seller sold the asset for $19.5 million, or $244.80 per square foot. Totaling 79,537 square feet, Mesquite Corporate Center overlooks the Westin Kierland Golf Club and is within walking distance to multiple restaurants and retail amenities at Kierland Commons. The Ron Schooler and Ken Elmer Team of Commercial Properties Inc./CORFAC International represented the buyer in the transaction.
CHICAGO — Cushman & Wakefield has conducted a global survey of more than 40,000 individuals to shed light on work-from-home experiences during the COVID-19 pandemic, including how employees are coping and what the new normal will look like as offices reopen. Survey respondents represent approximately 30 companies across nearly 20 industries. Results show that productivity generally remains strong and team collaboration has reached new heights through better leverage of remote technology, says Cushman & Wakefield. Three-quarters of respondents agreed or strongly agreed that they are collaborating effectively with colleagues in the current environment, up 10 percent from data gathered before COVID-19. In addition, 73 percent of respondents indicated they would like their companies to embrace long-term or permanent flexible working policies. “It’s imperative to recognize that the workplace will no longer be a single location, but an ecosystem of a variety of locations and experiences to support flexibility, functionality and employee well-being,” says Brett White, executive chairman and CEO. “That said, we expect current real estate footprint sizes to remain steady. Flexible working practices may result in fewer people in the office at any one time, but that space savings is offset by the need to accommodate social distancing in …
JOHNSBURG, ILL. — Joseph J. Duffy Co. is set to begin the conversion of the former James C. Bush Elementary School into a 68-unit affordable seniors housing project in Johnsburg, about 60 miles northwest of Chicago. General Capital Group is the developer and Hooker DeJong Architects Inc. is the project architect. Oakbrook Corp. will manage the property, which is reserved for ages 55 and older. Duffy will convert the administration and gym areas of the existing, one-story school into 14 apartment units, resident support facilities and office space. The contractor will then add a three-story wing housing 54 units. Each apartment will include a full bath and kitchen. Amenities will feature a patio area, playground and walking paths.