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Tower-5040-Houston
DevelopmentMultifamilyStudent HousingTexas

Developers Complete 405-Bed Student Housing Project Near University of Houston

by Taylor Williams

HOUSTON — A development team consisting of WGC Partners, a partnership of Steve Spessard of Gore Creek Partners LLC and Rocky Stevens and Mark Seger of Wellington Development Co., GRC Capital and Principal Real Estate Investors has completed Tower 5040, a student housing project located adjacent to the University of Houston’s main campus. The 147-unit property features one-, two- and four-bedroom units, as well as a game room, business center, fitness center, pool and a pet park. Dallas-based Humphreys & Partners designed the project, and Houston-based Arch-Con Construction was the general contractor.

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Ray-Hubbard-Ranch-Garland
AcquisitionsMultifamilyTexas

Marcus & Millichap Arranges Sale of 146-Unit Apartment Community in Metro Dallas

by Taylor Williams

GARLAND, TEXAS — Marcus & Millichap has arranged the sale of Ray Hubbard Ranch I and II, a 146-unit apartment community that is situated on 6.9 acres in the northeastern Dallas suburb of Garland. Nick Fluellen and Bard Hoover of Marcus & Millichap represented the seller and procured the buyer, both of which were limited liability companies that requested anonymity.

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AcquisitionsHealthcareTexas

JLL Negotiates Sale of 20,880 SF Medical Office Building in Lubbock

by Taylor Williams

LUBBOCK, TEXAS — JLL has negotiated the sale of a 20,880-square-foot medical office building located at 3601 21st St. in Lubbock. The property was built in 1966, renovated in 2003 and is now fully leased to Covenant Health System. Nick Foster, Evan Kovac, Andrew Milne, Matt DiCesare and Michael George of JLL represented the seller, a joint venture between Healthcare Property Advisors and The Innovation Institute, in the transaction. The buyer was Los Angeles-based RealtyMogul.

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AcquisitionsIndustrialTexas

Mohr Capital Sells 18,561 SF Industrial Property in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Dallas-based Mohr Capital has sold an 18,561-square-foot industrial property located at 490 Carey St. in Fort Worth. Mohr Capital developed the building in 2018 for HERC Rentals, which had 13 years remaining on its triple-net lease at the time of sale. Zach Harris and Brad Pepin of Stan Johnson Co. represented Mohr Capital in the transaction. A California-based investor purchased the asset via a 1031 exchange for an undisclosed price.

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DevelopmentIllinoisIndustrialMidwest

Contegra Construction Builds 544,000 SF Warehouse Near St. Louis

by Kristin Harlow

PONTOON BEACH, ILL. — Contegra Construction Co. has completed construction of a 544,000-square-foot warehouse in Pontoon Beach, just northwest of St. Louis. It is the first building at NorthPoint Development’s Gateway Tradeport, a 600-acre, 7.5 million-square-foot industrial park. The new property features a clear height of 36 feet, 56 dock doors and parking for 157 trailers. The project team included JF Electric Co., Fennix Construction Co., Affton Fabricating & Welding Co. Inc., Bi-State Fire Protection Corp., Icon Mechanical, Kamadulski Excavating and Grading Co. Inc., Krudwig Structural Engineers, RCS Construction, Focal Pointe Landscaping, Wiese USA and Christian Brothers Asphalt Inc.

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DevelopmentIllinoisIndustrialMidwest

Meridian Completes Two Spec Industrial Buildings in Elgin, Illinois

by Kristin Harlow

ELGIN, ILL. — Meridian Design Build has completed construction of two speculative industrial buildings for developer Scannell Properties in Elgin. A 325,020-square-foot building at 2451 Bath Road features a clear height of 36 feet, four drive-in doors, 367 auto parking spaces and 56 trailer stalls. The second property, an 80,400-square-foot facility at 1755 Britannia Drive, features a clear height of 32 feet, two drive-in doors and 92 auto parking spaces. The building can accommodate up to 19 loading docks and as many as three tenants. Paul Woody Architects provided architectural services and Manhard Consulting provided civil engineering services. Kenneth Franzese and John Cassidy of Lee & Associates are marketing the buildings for lease.

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DevelopmentIllinoisMidwestOffice

J.C. Anderson to Renovate 150,000 SF Office for West Monroe Partners in Chicago

by Kristin Harlow

CHICAGO — J.C. Anderson has been selected to complete a 150,000-square-foot office buildout for West Monroe Partners at 311 W. Monroe St. in Chicago. Founded in 2002, West Monroe Partners is a national consulting firm with seven offices throughout the country. The firm is relocating from 222 W. Adams St. J.C. Anderson will build out additional offices, open areas, phone rooms, conference rooms and collaborative work areas. The multi-floor project will include a break room on each floor as well as a reception area on the 14th floor and a new staircase leading up to the 15th floor. Completion is slated for October. The 15-story office building spans 382,490 square feet in Chicago’s Loop.

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IllinoisIndustrialLeasing ActivityMidwest

Georgia Nut Co. Renews 123,000 SF Industrial Lease in Skokie, Illinois

by Kristin Harlow

SKOKIE, ILL. — Georgia Nut Co., a manufacturer of nuts and candy, has renewed its 123,000-square-foot industrial lease at 7500 Linder Ave. in Skokie. The industrial food processing facility features eight docks, 9,000 square feet of office space, a retail store and a clear height of 23 feet. Ned Frank and Pat Hake of Colliers International represented the owner, LINK. The lease enables Georgia Nut to receive tenant improvements for its operations.

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AcquisitionsHospitalityMidwestNebraska

Marcus & Millichap Arranges Sale of 129-Room La Quinta Hotel in Omaha

by Kristin Harlow

OMAHA, NEB. — Marcus & Millichap has arranged the sale of a 129-room La Quinta hotel in Omaha for an undisclosed price. Built in 1981, the two-story property is located at 3330 N. 104th Ave. Ebrahim Valliani, Allan Miller and Chris Gomes of Marcus & Millichap marketed the hotel on behalf of the seller, a private investor. The team also secured and represented the buyer, a private investor.

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AcquisitionsIndustrialNortheastPennsylvania

Endurance, Thackeray Sell 240,358 SF Industrial Complex in Fairless Hills, Pennsylvania

by Taylor Williams

FAIRLESS HILLS, PA. — A partnership between Pennsylvania-based Endurance Real Estate Group and Texas-based Thackeray Partners has sold Penn Logistics at Bucks, a 240,358-square-foot industrial complex in Fairless Hills, located in between Philadelphia and Trenton. The sales price was $18 million. The four-building property was built between 1968 and 1970 and features 24-foot clear heights, 42 dock doors and proximity to Interstates 295 and 95. Michael Hines, Brad Ruppel, Brian Fiumara and Lauren Dawicki of CBRE represented the seller and procured the undisclosed buyer in the transaction.

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