Property Type

HSA Commercial Real Estate Breaks Ground on 1 MSF Industrial Park in Bristol, Wisconsin

by Kristin Harlow June 4, 2020

BRISTOL, WIS. — HSA Commercial Real Estate, in partnership with Washington Capital Management, has broken ground on the first phase of the 68-acre Bristol Highlands Commerce Center in Bristol near I-94 and the Wisconsin-Illinois border. The first two speculative buildings are slated for completion in the fourth quarter. One is a 157,656-square-foot warehouse with 31 truck docks, and the other is a 472,216-square-foot distribution center with 72 truck docks. Jeff Hoffman and Chad Vande Zande of Cushman & Wakefield | Boerke, along with Eric Fischer of Cushman & Wakefield in Chicago, are marketing the facilities for lease. Premier Design + Build Group is the general contractor, Partners in Design Architects is the architect and Pinnacle Engineering is the civil engineer.

June 4, 2020

Acquisitions Retail Texas

Elm Creek Acquires 159,703 SF Woodlake Crossing Power Center in San Antonio

by Taylor Williams June 4, 2020

SAN ANTONIO — Dallas-based Elm Creek Real Estate has acquired Woodlake Crossing, a 159,703-square-foot retail power center located at 6212 Woodglen Drive in San Antonio. Tenants include Ross Dress for Less, Petco and Office Max. Kevin Catalani of CBRE represented the seller, Illinois-based InvenTrust Properties, in the transaction. Elm Creek also owns the building that shadow-anchors the center, which was previously occupied by Target.

June 4, 2020

Development Illinois Industrial Midwest

Meridian Design Build Completes Construction of 673,920 SF Speculative Industrial Building in Metro St. Louis

by Kristin Harlow June 4, 2020

EDWARDSVILLE, ILL. — Meridian Design Build has completed the construction of a 673,920-square-foot speculative industrial building in Edwardsville within metro St. Louis. Exeter Property Group was the developer. The new facility is located on a 135-acre parcel within Gateway Commerce Center. The building features a clear height of 36 feet, 132 loading docks, four drive-in doors, 398 auto parking stalls and 171 exterior trailer stalls. JRA Architecture and Stock & Associates Consulting Engineers Inc. made up the project team.

June 4, 2020

Development Illinois Midwest Restaurant Retail

Panera Bread Opens at Levee District in East Peoria, Illinois

by Kristin Harlow June 4, 2020

EAST PEORIA, ILL. — Panera Bread has opened a new location at The Levee District in East Peoria in central Illinois. The 4,380-square-foot restaurant is located at 496 W. Washington St., across from Target. Panera Bread relocated from Camp Street Crossing. The new location features a drive-thru and outdoor patio. While full access to the dining room is not yet available due to COVID-19 restrictions, the restaurant is offering curbside pickup, contactless delivery, drive-thru and catering. Cullinan Properties Ltd. owns The Levee District.

June 4, 2020

Indiana Leasing Activity Midwest Office

Summit Reinsurance Services Renews 6,970 SF Office Lease in Fort Wayne, Indiana

by Kristin Harlow June 4, 2020

FORT WAYNE, IND. — Summit Reinsurance Services has renewed its 6,970-square-foot office lease at 7030 Pointe Inverness Way in Fort Wayne. Brady Gardner of Sturges Property Group represented the tenant as well as the landlord, Fort Wayne Portfolio Corp. Summit is a managing general underwriter and reinsurance advisor working with health insurers, managed care organizations and self-funded employers.

June 4, 2020

Acquisitions Arizona Retail Western

SRS Brokers $11.7M Sale of Six-Building Shopping Center in Sedona, Arizona

by Amy Works June 4, 2020

SEDONA, ARIZ. — SRS Real Estate Partners has arranged the sale of The Collective Sedona, a shopping center located at 7000 AZ-179 in Sedona. An Arizona-based private investor sold the asset to a California-based private investor for $11.7 million. Built in 2000 and 2003, the six-building property features 52,518 square feet of retail space on 6.2 acres. At the time of sale, the property was 84 percent occupied by a variety of tenants, including Hilton Resorts, AmTrust Bank, Bay Equity Home Loans, Cucina Rustica and Snap Fitness. Sean Thomas of the SRS National Net Lease Group’s Phoenix office represented the seller, while Jim Ashcraft of Ashcraft Investment Co. represented the buyer in the transaction.

June 4, 2020

Acquisitions Multifamily Texas

IPA Brokers Sale of 288-Unit Vantage at Waco Apartments

by Taylor Williams June 4, 2020

WACO, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Vantage at Waco, a 288-unit apartment community. The property was built on 20.2 acres in 2017 and is located about four miles from Baylor University. Vantage at Waco offers one-, two- and three-bedroom units averaging 838 square feet and amenities such as a pool, fitness center, dog park, business center and outdoor grilling areas. Will Balthrope, Tommy Lovell III and Richard Robson of IPA represented the seller, Vantage Communities, in the transaction. The buyer was an undisclosed 1031 exchange investor based in another state.

June 4, 2020

Acquisitions Office Texas

Koontz Corp. Sells 58,574 SF Parkview Plaza Office Building Near San Antonio

by Taylor Williams June 4, 2020

NEW BRAUNFELS, TEXAS — Locally based developer Koontz Corp. has sold Parkview Plaza, a 58,574-square-foot office building in the San Antonio suburb of New Braunfels. The property and was fully leased to PNC Bank at the time of sale. The buyer was New York-based Royal Oak Realty Trust. Once a golf course, the site of Parkview Plaza is located within Sundance Business Park, about a mile from Interstate 35.

June 4, 2020

Acquisitions Multifamily Texas

Wellington Arranges Sale of 56-Unit Sam Maverick Apartments in Arlington

by Taylor Williams June 4, 2020

ARLINGTON, TEXAS — Wellington Realty has arranged the sale of Sam Maverick Apartments, a 56-unit multifamily community located at 711 Grand Court in Arlington. The property, built in 1982, consists of 40 one-bedroom units and 16 two-bedroom residences. It was 90 percent occupied at the time of sale. David Shaffer, Caleb Jones, Will Miller and William Hubbard of Wellington brokered the deal. The buyer and seller were both undisclosed.

June 4, 2020

Acquisitions Colorado Development Healthcare Office Top Stories Western

AGC Biologics Acquires Vacant AstraZeneca Plant in Colorado, Plans to Invest $100M

by Alex Tostado June 4, 2020

BOULDER, COLO. — AGC Biologics has acquired a vacant, 300,000-square-foot pharmaceutical plant in Boulder from AstraZeneca. The Japan-based company plans to invest $100 million in the plant and create 280 jobs, according to multiple news outlets. The facility will provide AGC with additional capacity and significantly larger production scale. AGC expects to move into the facility in April 2021, 18 months sooner than it would take to build a new facility, according to the company. In February, the Colorado Economic Development Commission approved a tax credit on the property worth up to $6.4 million. AstraZeneca vacated the 20-acre property in January 2019, according to the Denver Post. The sales price was not disclosed, though the Boulder Daily Camera reports the property traded for $40 million. The Camera also reports jobs at the plant will pay an average of $96,253 per year. “This facility will enable us to continue to advance the development, manufacturing and commercial functions within our dynamic global company,” says AGC Biologics CEO Patricio Massera. Although the specific drugs and research planned for the facility were not disclosed, Massera made reference to “mammalian projects,” suggesting that animal research will take place there. The property is located at 5550 Airport …

June 4, 2020

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