Property Type

Berkshire Property Holdings Buys Multifamily Portfolio in Metro Dallas for $56.8M

by Taylor Williams September 11, 2020

RICHARDSON, TEXAS — Orlando-based investment firm Berkshire Property Holdings has purchased a two-property multifamily portfolio totaling 568 units in the northeastern Dallas suburb of Richardson for $56.8 million. The Parks at Walnut is a 308-unit property that consists of 25 two-story residential buildings on a 12-acre site, and NinetyNine44 on Walnut is a 260-unit community that features one- and two-bedroom units across 27 buildings on a 10.4-acre site. Both properties offer amenities such as pools, outdoor grilling areas, playgrounds and resident clubhouses. William Jarnagan, Jay Gunn, Taylor Hill, Tom Burns and Michael Ware of Berkadia represented Berkshire Property Holdings and the undisclosed seller in the transaction. A CBRE team led by Brian Eisendrath arranged a 10-year Freddie Mac acquisition loan on behalf of the new ownership.

September 11, 2020

Acquisitions Loans Office Texas

JLL Arranges Sale, Financing of 463,969 SF Chasewood Technology Park in Houston

by Taylor Williams September 11, 2020

HOUSTON — JLL has arranged the sale of Chasewood Technology Park, a 463,969-square-foot office campus in northwest Houston. The four-building campus spans 10.4 acres and was 93 percent leased at the time of sale to tenants in the energy, consulting, technology, architecture, healthcare and food services industries. Rick Goings and Ethan Goldberg of JLL represented the seller, The GenCap Group, and procured the buyer, Nitya Capital, in the sale. John Ream and Laura Sellingsloh of JLL arranged a $46 million acquisition loan through Morgan Stanley on behalf of Nitya Capital.

September 11, 2020

Acquisitions Multifamily Texas

29th Street Capital Acquires 308-Unit Live Oak Place Apartments Near San Antonio

by Taylor Williams September 11, 2020

LIVE OAK, TEXAS — 29th Street Capital (29SC) has acquired Live Oak Place Apartments, a 308-unit multifamily community located in the San Antonio suburb of Live Oak. Built in 1984, the property features studio, one- and two-bedroom units ranging in size from 408 to 857 square feet. Amenities include a pool, pet play area and onsite laundry facilities. 29SC will invest in capital improvements to the unit interiors, building exteriors and amenity spaces. The seller and sales price were not disclosed.

September 11, 2020

Development Office Texas

RPM xConstruction to Build 90,000 SF Office Headquarters at Craig Ranch in McKinney

by Taylor Williams September 11, 2020

MCKINNEY, TEXAS — RPM xConstruction LLC will build a 90,000-square-foot office building at McKinney Corporate Center at Craig Ranch, located north of Dallas, for its new office headquarters. Approximately 750 employees will work at the new building, which offers proximity to the Sam Rayburn Tollway and multiple retail and restaurant establishments. Construction is scheduled to begin early next year and to be complete in early 2022. Pross Design Group is the project architect.

September 11, 2020

Leasing Activity Retail Texas

Five Below Opens 9,600 SF Store at Brookhollow Marketplace in Houston

by Taylor Williams September 11, 2020

HOUSTON — Five Below has opened a 9,600-square-foot store at Brookhollow Marketplace, a 200,000-square-foot shopping and dining destination that is a redevelopment of the former ExxonMobil campus in Houston. The store will be Five Below’s 1,000th in the country. Fidelis Realty Partners is leading the redevelopment project, which features other retailers such as Ross Dress for Less, Michaels, Ulta Beauty, Burlington and T.J. Maxx

September 11, 2020

Development Midwest Office Wisconsin

BMO Opens New 25-Story Headquarters in Downtown Milwaukee

by Kristin Harlow September 11, 2020

MILWAUKEE — BMO Financial Group has opened its new Wisconsin headquarters building in downtown Milwaukee. Known as BMO Tower, the 25-story building is located at 790 N. Water St., immediately beside the company’s previous headquarters. Approximately 600 BMO employees will be based at the 336-foot-tall tower. The main floor features a new BMO branch for customers. Many aspects of the interior design of the workspaces pay tribute to BMO’s roots in Milwaukee. Many meeting and conference rooms are named after Milwaukee neighborhoods. Much of the artwork is from local artists. BMO Harris Bank is headquartered in Chicago.

September 11, 2020

Development Healthcare Illinois Midwest

MedProperties to Build 78,000 SF Medical Office Building Within $500M Redevelopment of Former McDonald’s Campus

by Kristin Harlow September 11, 2020

OAK BROOK, ILL. — MedProperties has received approval from the Oak Brook Village Board of Trustees to build a 78,000-square-foot medical office building within Oak Brook Commons, the $500 million redevelopment of the former McDonald’s campus in suburban Chicago’s Oak Brook. The seven-story outpatient facility will be known as Oak Brook Commons Medical. Plans call for a lobby area, immediate care clinic, comprehensive imaging suite and 281 covered parking spaces. Medical specialties will be determined at a later date to meet the needs of the community. The larger Oak Brook Commons development will be built in three phases, encompassing retail, restaurants, office, 72 condominium units, 250 apartment units, a 252-room hotel and a park. The medical office building will be part of Phase I with a completion date expected in 2022. Antunovich Associates is the project architect.

September 11, 2020

Midwest Ohio Retail

Kroger’s Digital Sales Surge 127 Percent in Second Quarter

by Kristin Harlow September 11, 2020

CINCINNATI — The Kroger Co. (NYSE: KR) has reported that its digital sales surged 127 percent in the second quarter, which ended Aug. 15. Consumers have been buying more groceries online as a result of the coronavirus. “Investments made to expand the company’s digital ecosystem are resonating well with customers,” says Rodney McMullen, chairman and CEO. In addition, the Cincinnati-based grocer’s operating profit of $820 million was up 43 percent compared with the same period a year ago. Total company sales were $30.5 billion in the second quarter, compared with $28.2 billion the same period last year. Kroger operates roughly 2,750 supermarkets nationally.

September 11, 2020

Acquisitions Illinois Midwest Retail

Cooper Group Arranges $3.3M Sale of Retail Center in North Aurora, Illinois

by Kristin Harlow September 11, 2020

NORTH AURORA, ILL. — Cooper Commercial Investment Group has arranged the sale of Clock Tower Plaza in North Aurora for $3.3 million. The 38,336-square-foot retail center is 60 percent occupied by tenants such as State Farm, Eddie’s Pizza & Pub and H&R Block. Bob Havasi and Dan Cooper of Cooper represented the buyer, an East Coast-based private investor completing a 1031 exchange. The seller was undisclosed.

September 11, 2020

Acquisitions Hospitality Iowa Midwest

Marcus & Millichap Brokers $1.6M Sale of Howard Johnson Hotel in Iowa

by Kristin Harlow September 11, 2020

BURLINGTON, IOWA — Marcus & Millichap has brokered the $1.6 million sale of a Howard Johnson hotel in Southeast Iowa’s Burlington. The 96-room property is located at 2759 Mt. Pleasant St. near the Catfish Bend Casino and Burlington Regional Airport. Ebrahim Valliani, Allan Miller and Chris Gomes of Marcus & Millichap marketed the hotel on behalf of the seller, a limited liability company. The buyer information was undisclosed.

September 11, 2020

Newer Posts

Older Posts