Property Type

Joint Venture Secures Construction Financing for 66-Story Mixed-Use Tower in Austin

by Taylor Williams October 29, 2019

AUSTIN, TEXAS — A joint venture between Kairoi Residential, Lincoln Property Co. and DivcoWest has secured an undisclosed amount of construction financing for 6xGuadalupe, a 66-story mixed-use tower in downtown Austin. According to the property website, 6xGuadalupe will feature ground-floor retail space, 349 multifamily units and roughly 588,000 square feet of office space. The office component also includes a 35,000-square-foot terrace and 11,500 square feet of amenities including a conference room, tenant lounge and fitness center. Construction is underway with the demolition of the existing Extended Stay hotel on the site set for Tuesday, Oct. 29. Gensler is the project architect.

October 29, 2019

Acquisitions Industrial Texas

CBRE Brokers Sale of 157,000 SF Industrial Facility in Oklahoma City

by Taylor Williams October 29, 2019

OKLAHOMA CITY — CBRE has brokered the sale of a 157,000-square-foot industrial facility located on 18 acres near Interstates 35 and 240 in Oklahoma City. The buyer, Spiers New Technologies, a provider of services for advanced battery packs used in hybrid and electric car charging, occupies four buildings across the city and will consolidate its operations to the new facility. The site has the capacity to house more than 200,000 square feet of additional office and manufacturing space. Jason Hammock, Caitlin Mazaheri and John Lenochan of CBRE represented Spiers in the transaction. Allan Meadors of Cushman & Wakefield represented the undisclosed seller.

October 29, 2019

Development Industrial Texas

McCarthy Underway on 141,000 SF Expansion Project for Southwest Airlines in Dallas

by Taylor Williams October 29, 2019

DALLAS — McCarthy Building Cos. is underway on a 141,000-square-foot expansion project in Dallas for Southwest Airlines’ Leadership & Aircrew Development Center at the company’s Dallas headquarters campus. The project will add space for eight additional flight simulators — up from its current 18 simulators — additional room for briefing rooms and space for smaller flight training devices. The opening is slated for fall 2020.

October 29, 2019

Acquisitions Multifamily Texas

Origin Investments, F&B Capital Buy 250-Unit Apartment Community in Metro Austin

by Taylor Williams October 29, 2019

GEORGETOWN, TEXAS — A joint venture between Chicago-based Origin Investments and Austin-based F&B Capital has purchased Anatole at Westinghouse, a 250-unit apartment community located in the northern Austin suburb of Georgetown. Built on 13 acres in 2015, the property comprises 148 one-bedroom units, 96 two-bedroom units and six three-bedroom units equipped with modern appliances, quartz countertops and in-unit washers and dryers. Amenities include a pool with outdoor grilling areas, a fitness center, business center and a dog park. The seller and sales price were not disclosed.

October 29, 2019

Acquisitions Retail Texas

MCA Arranges $5.1M Construction Loan for Retail Project in South Dallas

by Taylor Williams October 29, 2019

DALLAS — Locally based financial intermediary Metropolitan Capital Advisors (MCA) has arranged a $5.1 million construction loan for a 20,700-square-foot retail property that will be located adjacent to the RedBird Mall in South Dallas. Foot Locker will occupy the space, which will be fronted by a one-acre outdoor area that will be used for outdoor athletic events. Scott Lynn and Andrew Hanzl handled the debt placement with Texas Capital Bank on behalf of the borrower, RedBird Development Group. Future phases at RedBird Mall will include the construction of several restaurant concepts neighboring the Footlocker along the perimeter of the green space.

October 29, 2019

Illinois Loans Midwest Retail

Mag Mile Capital Arranges $12.5M Refinancing for Retail Property in Lincolnwood, Illinois

by Kristin Harlow October 29, 2019

LINCOLNWOOD, ILL. — Mag Mile Capital has arranged a $12.5 million loan for the refinancing of a 63,453-square-foot retail property located at 6850 McCormick Blvd. in Lincolnwood. The property is home to Walmart’s new online grocery and consumer goods pick-up concept as well as Planet Fitness. R&R Global Partners acquired the building in November 2015, following an unsuccessful redevelopment attempt by its previous owner. The property had been vacant for more than two years after Dominick’s exited the market in 2013. Mac Dobson of Mag Mile arranged the seven-year, fixed-rate loan with a 73 percent loan-to-value ratio. A regional bank provided the loan.

October 29, 2019

Development Industrial Kansas Midwest

Meritex Breaks Ground on Two Industrial Buildings Totaling 240,000 SF in Lenexa, Kansas

by Kristin Harlow October 29, 2019

LENEXA, KAN. — Meritex has broken ground on two 120,000-square-foot industrial buildings in Lenexa. The new buildings will each feature a clear height of 28 feet and insulated wall panels. The buildings, located at 9800 Britton St., will share a truck court. Site work will continue this fall with vertical construction expected to begin in the spring. Project completion is slated for December 2020. Colliers International will market the properties for lease.

October 29, 2019

Acquisitions Iowa Kansas Midwest Multifamily Nebraska Seniors Housing

Blueprint Negotiates Sale of 15-Property Skilled Nursing Portfolio in Midwest

by Kristin Harlow October 29, 2019

NEBRASKA, IOWA AND KANSAS — Blueprint Healthcare Real Estate Advisors has arranged the sale of 15 skilled nursing facilities in Nebraska, Iowa and Kansas. The portfolio included 10 locations in Nebraska, four in Iowa, and one in Kansas, and consists of over 950 licensed beds. The facilities are in predominantly secondary and tertiary submarkets, and the majority were built in the 1960s and 1970s. Blueprint’s Michael Segal, Ben Firestone and Steve Thomes handled the transaction. Buyer and seller information was not disclosed.

October 29, 2019

Illinois Industrial Leasing Activity Midwest

Axis Warehouse Management Signs 174,178 SF Industrial Lease in Bensenville, Illinois

by Kristin Harlow October 29, 2019

BENSENVILLE, ILL. — Third-party logistics firm Axis Warehouse Management has signed a 174,178-square-foot industrial lease in Bensenville. The property is located at 500 Country Club Drive, about 24 miles northwest of Chicago. Built in 1974, the facility features a clear height of 22 feet, 31 exterior docks, two drive-in doors and 6,300 square feet of office space. CenterPoint Properties owns the building. Rick Daly of Darwin Realty led the lease transaction on behalf of both parties with assistance from colleague George Cibula.

October 29, 2019

California Loans Office Western

Kylli Receives $350M Refinancing for 580,000 SF Historic Office Building in San Francisco

by Amy Works October 29, 2019

SAN FRANCISCO — Kylli Inc. has received $350 million in refinancing for 225 Bush Street, a historic office building in San Francisco’s Financial District. The 580,000-square-foot asset was constructed in 1922 as the Standard Oil Building for John D. Rockefeller by architect George W. Kelham. At the time of completion, the 22-story office tower was the tallest building in San Francisco. The property was fully occupied by 31 tenants at the time of sale. Jordan Angel, Taylor Gimian and Andie Fezell of JLL Capital Markets secured the fixed-rate loan through Deutsche Bank for the borrower.

October 29, 2019

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