Property Type

J.C. Anderson to Complete 109,000 SF Office Build-Out for Bosch in Oakbrook Terrace, Illinois

by Kristin Harlow August 27, 2020

OAKBROOK TERRACE, ILL. — J.C. Anderson has been selected to complete a 109,000-square-foot office build-out for German engineering and technology company Bosch at One Tower Lane in Oakbrook Terrace. The project encompasses the top five floors of the 31-story office building as well as a 15,883-square-foot separate commercial space at the property known as “The Annex.” Bosch plans to relocate about 350 employees from its automotive aftermarket division in Broadview to the new space in Oakbrook Terrace. Scheduled for completion in November, the project will include the addition of conference rooms, private offices and open seating areas. The annex portion will serve as a testing and lab facility. Whitney is the project architect and Cushman & Wakefield is providing project management services.

August 27, 2020

Leasing Activity New York Northeast Office

CBRE Negotiates 12,900 SF Office Lease Expansion in Harrison, New York

by Taylor Williams August 27, 2020

HARRISON, N.Y. — CBRE has negotiated a 12,900-square-foot office lease expansion at 440 Mamaroneck Ave. in Harrison, located near the New York-Connecticut border. The tenant, Stillman Management Realty, renewed its 8,000-square-foot lease and committed to an additional 4,900 square feet. Bud Wiesenberg and Bob Caruso of CBRE represented the tenant in the lease negotiations. RPW Group owns the building.

August 27, 2020

Acquisitions Illinois Midwest Retail

Marcus & Millichap Arranges $3.7M Sale of Retail Building in Algonquin, Illinois

by Kristin Harlow August 27, 2020

ALGONQUIN, ILL. — Marcus & Millichap has arranged the sale of a 7,926-square-foot retail building in Algonquin for $3.7 million. Located at 1496 S. Randall Road, the property serves as an outparcel to a Walmart Supercenter. Austin Weisenbeck and Sean Sharko of Marcus & Millichap marketed the building on behalf of the seller, a developer. A Midwest-based investment company purchased the asset, which was fully leased at the time of sale to The Vitamin Shoppe, FedEx and Bentley’s Pet Stuff.

August 27, 2020

Acquisitions Illinois Midwest Restaurant Retail

Hanley Investment Group Brokers $3.5M Sale of Panera Bread-Occupied Property in East Peoria, Illinois

by Kristin Harlow August 27, 2020

EAST PEORIA, ILL. — Hanley Investment Group Real Estate Advisors has brokered the $3.5 million sale of a newly constructed retail property occupied by Panera Bread in East Peoria, about 70 miles north of Springfield. The 4,380-square-foot, drive-thru location is situated within a 650,000-square-foot mixed-use development known as The Levee District. Jeff Lefko and Bill Asher of Hanley represented the seller, Cullinan Properties Ltd. David Rush of CBRE represented the buyer, a Santa Barbara, Calif.-based private investor.

August 27, 2020

Acquisitions Office Texas

Nitya Capital Acquires 466,025 SF One Westchase Center Office Building in Houston

by Taylor Williams August 27, 2020

HOUSTON — Locally based investment firm Nitya Capital has acquired One Westchase Center, a 466,025-square-foot office building located at 10777 Westheimer Road in Houston. Built in 1982 and renovated in 2019, the 12-story building features an onsite deli, fitness center and a 2,700-square-foot conference center, as well as a 1,400-space parking garage. Transwestern handles the office building’s leasing assignment, and Griffin Partners manages it.

August 27, 2020

Acquisitions Multifamily Texas

29th Street Capital Buys 350-Unit Greenhouse Apartments in Metro Houston

by Taylor Williams August 27, 2020

KATY, TEXAS — Multifamily owner-operator 29th Street Capital has purchased Greenhouse Apartments, a 350-unit multifamily community located at 2040 Greenhouse Road in the western Houston suburb of Katy. Built in 2016, the property offers one-, two- and three-bedroom floor plans with quartz countertops, glass backsplashes, European cabinetry and stainless steel appliances. Amenities include a pool, fitness center, coffee bar, playground, dog park, outdoor grilling areas, conference center and a clubroom. The new ownership will implement a value-add program by upgrading the landscaping, adding a package locker system and making technological improvements.

August 27, 2020

Loans Multifamily Student Housing Texas

Parkview Provides $9.5M Construction Loan for Student Housing Project in Prairie View, Texas

by Taylor Williams August 27, 2020

PRAIRIE VIEW, TEXAS — Los Angeles-based Parkview Financial has provided a $9.5 million construction loan for a 120-unit student housing project in Prairie View, about 50 miles northwest of Houston. The property will serve Prairie View A&M University and represents the first phase of a 390-unit development that will be known as Prairie View Plaza. The first building will consist of 72 one-bedroom units and 48 two-bedroom units with full kitchens and individual washers and dryers. Phase I is expected to be complete in the second quarter of 2021. In addition to the student housing portion, Prairie View Plaza will ultimately include 70 townhomes for sale, 100 apartments and 58,000 square feet of retail space. The borrower was PV Asset Management.

August 27, 2020

Development Hospitality Texas

Marriott to Debut 200-Room Hotel Drover at Historic Fort Worth Stockyards in 2021

by Taylor Williams August 27, 2020

FORT WORTH, TEXAS — Marriott International Inc. will open a 200-room Hotel Drover, one of its Autograph Collection brands, at the historic Fort Worth Stockyards in early 2021. Rooms will feature oversized tubs and wet bars, and guests can enjoy two acres of outdoor space that house a pool, water features, fire pits and a music stage. The hotel will also offer 12,000 square feet of meeting and event space.

August 27, 2020

Leasing Activity Retail Texas

Dick’s Sporting Goods to Open 45,000 SF Store at Simon’s Midland Park Mall This Weekend

by Taylor Williams August 27, 2020

MIDLAND, TEXAS — Dick’s Sporting Goods will open a 45,000-square-foot store at Simon’s Property Group’s Midland Park Mall in West Texas. The grand opening will be held over the course of this weekend. The enclosed shopping and dining destination was built in 1980 and is currently anchored by J.C. Penney, Bealls and Ross Dress for Less. Pittsburgh-based Dick’s Sporting Goods, which also opened three new stores in Northeastern malls this month, as well as one in metro Atlanta, is backfilling an anchor space at Midland Park Mall that was previously occupied by Dillard’s.

August 27, 2020

Acquisitions California Multifamily Western

Matthews Negotiates $26.4M Purchase of Mountain View Manor Apartments in Los Angeles

by Amy Works August 27, 2020

LOS ANGELES — Matthews Real Estate Investment Services has brokered the acquisition of Mountain View Manor Apartments, located at 21700-34 Septo St. in the Chatsworth neighborhood of Los Angeles. Sussex Capital Group purchased the property from a private family for $26.4 million. Built in 1977, Mountain View Apartments features 97 units in a mix of one- and two-bedroom layouts. The gated community features four swimming pools, a hot tub, barbecue area, laundry facilities and assigned parking. John Boyett and Daniel Withers of Matthews Real Estate Investment Services represented the buyer, while Keller Williams represented the seller in the transaction.

August 27, 2020

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