Property Type

Global Bank Signs 53,186 SF Office Lease Extension at Woodbridge Corporate Plaza in Iselin, New Jersey

by Taylor Williams January 22, 2020

ISELIN, N.J. — Global banking organization BNP Paribas has signed a 53,186-square-foot office lease extension at Woodbridge Corporate Plaza, a 630,000-square-foot office complex in the central New Jersey city of Iselin. Owner KBS recently renovated Woodbridge Corporate Plaza, a six-building development that offers a 6,000-square-foot fitness center, full-service café and shuttle service to nearby public transit lines. Jamie Drummond and Andrew Perotti of Newmark Knight Frank represented KBS in the lease negotiations.

January 22, 2020

Acquisitions Industrial Texas

NAI Partners Arranges Sale of 409,685 SF Distribution Center in Schertz, Texas

by Taylor Williams January 22, 2020

SCHERTZ, TEXAS — NAI Partners has arranged the sale of a 409,685-square-foot distribution center located at 1150 Schwab Road along the Interstate 35 corridor in the Central Texas city of Schertz. According to LoopNet Inc., the site was developed in 2008, includes 78,500 square feet of office space and houses additional land for future expansion. Carlos Marquez of NAI Partners represented the undisclosed seller in the transaction. The buyer was HPI Real Estate Services & Investments, which acquired the property vacant.

January 22, 2020

Acquisitions Retail Texas

JLL Negotiates Sale of 180,522 SF Marketplace at Towne Center in Metro Dallas

by Taylor Williams January 22, 2020

MESQUITE, TEXAS — JLL has negotiated the sale of Marketplace at Towne Center, a 180,522-square-foot retail center located in the eastern Dallas suburb of Mesquite. Built on 20.5 acres at the corner of U.S. Highway 80 and the Lyndon Johnson Freeway, the property houses tenants such as PetSmart, Ross Dress for Less, Old Navy, Dress Barn, Five Below, Famous Footwear and Applebee’s. Barry Brown, Chris Gerard, Ryan Shore, Aaron Johnson, Ross Crawford and Matthew Wheeler of JLL represented the seller, Ohio-based Retail Value Inc., in the transaction. The buyer was a local private investor.

January 22, 2020

Acquisitions Development Multifamily Texas

Trammell Crow Underway on 350-Unit Apartment Project in Metro Houston

by Taylor Williams January 22, 2020

CYPRESS, TEXAS — Trammell Crow Residential is underway on construction of a 350-unit apartment project along Spring Cypress Road in the northwestern Houston suburb of Cypress. The Class A, garden-style community will be situated on 14.4 acres. The groundbreaking was held in December. Dosch Marshall Real Estate represented Trammell Crow in the land acquisition. The seller(s) in that transaction was not disclosed.

January 22, 2020

Acquisitions Multifamily Texas

Allied Orion Sells 281-Unit Beacon at Buffalo Pointe Apartments in Houston

by Taylor Williams January 22, 2020

HOUSTON — Locally based multifamily development and management firm Allied Orion Group has sold The Beacon at Buffalo Pointe, a 281-unit apartment community located near the Texas Medical Center in Houston. Built on 32.4 acres in 2017, the property offers one-, two- and three-bedroom units averaging 862 square feet. Amenities include a pool with a sundeck and cabanas, outdoor grilling areas, a fitness center, demonstration kitchen and coffee bar, a dog park and concierge service. Chris Curry, Todd Marix and Bailey Crowell of JLL represented Allied Orion in the transaction and procured the buyer, Morgan Group Inc.

January 22, 2020

Indiana Loans Midwest Mixed-Use

Merchants Capital Arranges $59M Construction Loan for Bottleworks District in Indianapolis

by Kristin Harlow January 22, 2020

INDIANAPOLIS — Mortgage banking company Merchants Capital has arranged a $59 million loan for the construction of Bottleworks District, a mixed-use project in the Massachusetts Avenue corridor of Indianapolis. Merchants Bank of Indiana provided the three-year loan on behalf of the borrower and developer, Hendricks Commercial Properties. The $300 million Bottleworks project involves the redevelopment of a former Coca-Cola bottling plant into retail, hotel and office space. Phase I is expected to open in September.

January 22, 2020

Loans Office Texas

East West Bank Provides $20M Loan for Refinancing of Houston Office Building

by Taylor Williams January 22, 2020

HOUSTON — East West Bank has provided a $20 million loan for the refinancing of Sam Houston Crossing II, a 160,000-square-foot office building in Houston. Built in 2013, the three-story property is situated on 8.5 acres along the Sam Houston Tollway and was fully leased at the time of sale. John Ream and Laura Sellingsloh of JLL arranged the loan, which was structured with a five-year term and a 4 percent interest rate, through East West Bank on behalf of the borrower, Buchanan Street Partners.

January 22, 2020

Acquisitions Illinois Midwest Retail

Jameson Commercial Brokers $21.9M Sale of Retail Portfolio in Chicago

by Kristin Harlow January 22, 2020

CHICAGO — Jameson Commercial has brokered the sale of a retail portfolio in Chicago’s South Loop for $21.9 million. The portfolio includes a single-tenant Chick-fil-A, a 7-Eleven gas station and an 8,000-square-foot retail building anchored by Aspen Dental. Mark Kishtow of Jameson represented the seller, GW Properties, as well as the buyer, Park 1 Chicago.

January 22, 2020

Illinois Industrial Leasing Activity Midwest

Winslyn Industries Signs 50,651 SF Industrial Lease in Batavia, Illinois

by Kristin Harlow January 22, 2020

BATAVIA, ILL. — Winslyn Industries has signed a 50,651-square-foot industrial lease at 1850 Fabyan Parkway in Batavia, a western suburb of Chicago. The wholesaler of kitchen and bathroom products is expanding from a 32,000-square-foot facility in Bartlett. Winslyn’s new space is part of a 150,838-square-foot distribution center newly developed by Cratos Industrial Properties. Winslyn is scheduled to take occupancy this quarter. Jim Pietrarosso of Brown Commercial Group represented the tenant in the lease transaction. Kate Coxworth of Morken & Associates represented the developer.

January 22, 2020

Illinois Leasing Activity Midwest Office

Law Firm Leases 13,618 SF of Office Space in Chicago

by Kristin Harlow January 22, 2020

CHICAGO — Law firm Querrey & Harrow has leased 13,618 square feet of office space at 120 N. LaSalle St. in Chicago. The firm will occupy the entire 26th floor and will relocate from 175 W. Jackson when its lease commences in mid-2020. Originally built in 1991, the 390,000-square-foot Class A office tower features a six-story parking garage, two restaurants, a new fitness center, tenant lounge and rooftop deck. Ascentris, in partnership with Lincoln Property Co., owns the 40-story building. Jason Kleiman and Sean Murphy of Cresa represented Querrey & Harrow in the lease.

January 22, 2020

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