MAGNOLIA, N.J. — Vantage Real Estate Services has brokered the sale of a 3,150-square-foot retail property in Magnolia, a southeastern suburb of Philadelphia. The property is located at 130 S. White Horse Pike near a Walmart store and several other retail and restaurant businesses. Monica Walsh, Aran Ploshansky and Bruce Goldstein of Vantage represented the seller, East Coast Enterprises LLC. The buyer was Makellos Cabinetry, a Philadelphia-based kitchen renovation company.
UVALDE, TEXAS — Alabama-based general contractor Hoar Construction has begun work on a $90 million healthcare project in Uvalde, about 85 miles west of San Antonio. The new facility will be part of Uvalde Memorial Hospital and will include 32,870 square feet of institutional space, 31,872 square feet of administrative space and an 11,500 square-foot central utility plant. In addition, the facility will house an emergency department, physical and occupational therapy department, radiology department, urgent care department, an intensive care unit, a 25-bed medical surgical inpatient unit and 16 outpatient beds. The building is expected to be available for occupancy in September 2021.
PEARLAND, TEXAS — NAI Partners has arranged a 48,400-square-foot build-to-suit lease at 11200 Broadway St. in Pearland for HCA Houston Healthcare, which plans to open a Healthcare Center for Clinical Advancement at the site by early 2021. The healthcare provider has signed a long-term lease at the property, which will feature high-fidelity hospital simulation labs, connected classrooms and debriefing rooms where the health system’s nearly 7,000 nurses will receive ongoing clinical education and training. Griff Bandy and Joe Bright of NAI Partners represented HCA in the lease negotiations. A second HCA Healthcare Center for Clinical Advancement is planned for a location north of Houston.
ST. LOUIS PARK, MINN. AND FISHERS, IND. — NorthMarq has arranged two separate loans with different life insurance companies for two retail properties in Minnesota and Indiana. First, NorthMarq arranged an $18.3 million acquisition loan for Park Place Plaza in St. Louis Park. The 87,975-square-foot property consists of four multi-tenant retail buildings. The center was fully leased at the time of closing. Major tenants include PetSmart and Office Depot. The 10-year loan features a 25-year amortization schedule. The second loan totaled $4.8 million for the refinancing of Fishers Gateway Shops in Fishers. The 21,330-square-foot neighborhood shopping center, located at 9001 E. 116th St., was also fully leased at the time of closing. The 10-year loan features a 25-year amortization schedule. David Garfinkel of NorthMarq arranged both loans. He also secured a $19.5 million acquisition loan for a property in Washington on behalf of the same borrower.
BANNOCKBURN, ILL. — Colliers International has brokered the $3.8 million sale of Bannockburn Office Court in Bannockburn, about 30 miles north of Chicago. The office property, comprised of two 20,000-square-foot buildings, is located at 2201-2231 Lakeside Drive. Built in 1981, the office complex has recently undergone improvements to its landscaping, parking lot and sidewalk. The asset was 77 percent leased at the time of sale. John Homsher and Alissa Adler of Colliers represented the seller, North Shore OpCo LLC. North Park Property Management LLC purchased the property.
KENOSHA, WIS. — JLL Capital Markets has negotiated the $2.4 million sale of a 4,500-square-foot, single-tenant retail building net leased to Giordano’s restaurant in Kenosha. Completed in late 2019, the property is located at 7060 Green Bay Road. It is the first Giordano’s location in Wisconsin. Chicago-based Giordano’s, famous for deep dish pizza, opened in 1974 and operates nearly 70 locations. Alex Sharrin, Nicholas Kanich and Larry Kilduff of JLL represented the seller, Speedwagon Properties. JLL also procured the buyer, a Chicago-based family.
NOVI, MICH. — Milan Laser and US Mattress will soon join the tenant lineup at West Oaks Shopping Center in Novi. Milan Laser will occupy the 1,624-square-foot space formerly home to GameStop. US Mattress will take the 2,600-square-foot space formerly occupied by Art Van Pure Sleep. Tjader Gerdom, Larry Siedell and Michael Murphy of Gerdom Realty & Investment represented the landlord, RPT Realty. West Oaks is located at I-96 and Novi Road, directly across the street from Twelve Oaks Mall.
RHOME, TEXAS — Dallas-based design-build firm Arco/Murray has completed a 47,000-square-foot high hazard facility for aeronautics firm Socomore in Rhome, located north of Fort Worth. The facility includes H-2 hazardous material production space and 10,000 square feet of H-3 hazardous material production space. Explosion proof electrical fixtures and a foam fire protection system with in-rack sprinklers were used throughout.
SPRINGFIELD, ILL. — Marcus & Millichap has arranged the sale of Victoria Village Apartments in Springfield for $1.8 million. The 106-unit apartment community is located at 2473 Ladley Court. It is situated on 6.4 acres and consists of 24 buildings. An on-site leasing and maintenance office spans approximately 1,200 square feet. Bryan Kunze and Scott Harris of Marcus & Millichap marketed the property on behalf of the seller, a private investor. The team also secured and represented the buyer, a limited liability company.
HOUSTON — Marcus & Millichap has brokered the sale of 7555 Bellaire, a 43,631-square-foot shopping center in Houston. The property was built in 2004 and houses tenants such as Family Thrift Center, Alegria Dental Care and Club Fit. Justin Miller and Davis Hansen of Marcus & Millichap represented the seller, a Houston-based partnership, in the transaction. Additional terms of sale were not disclosed.