Property Type

StreetLights Residential Breaks Ground on 340-Unit Apartment Project in Arlington

by Taylor Williams November 7, 2019

ARLINGTON, TEXAS — Dallas-based developer StreetLights Residential has broken ground on The Jackson, a 340-unit multifamily community located within the Viridian master-planned development in Arlington. The property will offer studio, one-, two- and three-bedroom units in addition to limited two-story floor plans known as “carriage units.” Residences will range in size from 588 to 1,671 square feet and feature granite countertops, custom cabinetry and spa-inspired bathrooms. Amenities will include coworking spaces, a creative makerspace with a chef’s kitchen, a private lounge with a coffee bar, fitness center with a flex room for yoga and spin, a resort-style pool and outdoor courtyard spaces. WDG Architecture designed the project, and SLR Construction LLC is serving as the general contractor. Residences are expected to be available for occupancy in fall 2020.

November 7, 2019

Development Office Texas

Stonelake Capital Partners Tops Out 210,000 SF Office Building in Houston

by Taylor Williams November 7, 2019

HOUSTON — Stonelake Capital Partners, a private equity firm with offices in Dallas, Houston and Austin, has topped out 200 Park Place, a 210,000-square-foot office building located within the Park Place | River Oaks development in Houston. Designed by Beck Architecture and constructed by Harvey Builders, the 15-story building will feature ground-floor restaurants, a conference center and tenant lounge and access to a landscaped terrace and park. The property, which is 30 percent preleased, is expected to be available for occupancy by June 2020.

November 7, 2019

Acquisitions Retail Texas

JLL Negotiates Sale of 73,000 SF The Mix @ Midtown Retail Center in Houston

by Taylor Williams November 7, 2019

HOUSTON — JLL has negotiated the sale of The Mix @ Midtown, a 73,000-square-foot retail center that occupies a full city block in Houston’s Midtown neighborhood. The property was fully leased at the time of sale to tenants such as 24 Hour Fitness, Jinya Raman Bar, Artisans Restaurant, Gen Korean BBQ, Piola, Kung Fu Tea and Cloud 10 Creamery. Rusty Tamlyn, John Indelli, Michael Johnson and Bryan Strode of JLL represented the seller, Crosspoint Properties, which developed the center in 2008, in the transaction. A joint venture between Houston-based Fifth Corner and Pointer Real Estate Partners purchased the asset for an undisclosed price.

November 7, 2019

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Arranges Sale of 94-Unit Self-Storage Facility in Pinehurst, Texas

by Taylor Williams November 7, 2019

PINEHURST, TEXAS — Marcus & Millichap has arranged the sale of United Storage, a 94-unit self-storage facility in Pinehurst, located about 50 miles northwest of Houston. The property spans 20,960 square feet. Dave Knobler and Casey Kral of Marcus & Millichap represented the seller, a private investor, in the transaction. An undisclosed buyer, also a private investor, purchased the asset.

November 7, 2019

Leasing Activity Office Texas

Gartner Signs 54,920 SF Office Lease Expansion at Las Colinas Connection 1 in Irving

by Taylor Williams November 7, 2019

IRVING, TEXAS — Connecticut-based IT consulting firm Gartner Inc. has signed a 54,920-square-foot office lease expansion at Las Colinas Connection 1 in Irving. According to LoopNet Inc., the property was built in 1999 and spans 231,681 square feet. Randy Cooper, Matt Heidelbaugh, Amber Roberts, Lou D’Avanzo and Andy May of Cushman & Wakefield represented the tenant in the lease negotiations. Sarah Hinkley of Thirty-Four Commercial and Joel Pustmueller of JLL represented the landlord, Piedmont Office Realty Trust.

November 7, 2019

Acquisitions Illinois Midwest Multifamily

RDG Funds Acquires Multifamily Asset in Chicago for $40.1M

by Kristin Harlow November 7, 2019

CHICAGO — Chicago-based private equity firm RDG Funds LLC has acquired 13Thirteen Randolph Street Lofts in Chicago’s West Loop neighborhood for $40.1 million. The Class A multifamily asset includes four retail tenants and 74 apartment units. The property comprises two historic buildings, originally constructed in 1892 and 1927. Both buildings were renovated and transformed into residences in 2013. Shared amenities include a rooftop deck, resident lounge, media center, theater room and fitness center. RDG has retained Greystar to assist with its business plan for the property. Todd Stofflet and Jason Stevens of Cushman & Wakefield represented the seller, JP Morgan Asset Management. Monthly rents start around $1,600.

November 7, 2019

Development Midwest Multifamily Seniors Housing Wisconsin

Pathway to Living, Caddis Open Assisted Living Facility in Wisconsin

by Kristin Harlow November 7, 2019

BROOKFIELD, WIS. — Pathway to Living and Caddis Healthcare Real Estate have opened Heartis Village Brookfield, an assisted living and memory care community in Brookfield, a suburb of Milwaukee. The property totals 70 assisted living units and 24 memory care units on a 10-acre plot. Assisted living units range in size from 351 to 917 square feet. Memory care units range in size between 293 to 306 square feet. During development, Caddis Healthcare gifted 2.9 acres of land to the city of Brookfield to support the development of a public park. Heartis Village Brookfield is the fourth Heartis-owned community managed by Pathway.

November 7, 2019

Acquisitions Illinois Midwest Multifamily

Colliers Brokers Sale of 93-Unit Apartment Building in Chicago

by Kristin Harlow November 7, 2019

CHICAGO — Colliers International has brokered the sale of Jackson Throop Place in Chicago’s West Loop neighborhood for an undisclosed price. The 93-unit luxury apartment building is located on West Jackson Boulevard. Built in 2016, the property includes 18 one-bedroom units, 72 two-bedroom units and three three-bedroom units. The apartments feature hardwood floors, quartz countertops and stainless-steel appliances. Tyler Hague and Lauren Stoliar of Colliers represented the buyer, Newcastle Limited. Michigan Avenue Real Estate Partners was the seller.

November 7, 2019

Development Illinois Industrial Midwest

Conor Commercial Completes Development of Two-Building Industrial Property in Elgin, Illinois

by Kristin Harlow November 7, 2019

ELGIN, ILL. — Conor Commercial Real Estate and partner Globe Corp. have completed development of Northwest Pointe III in Elgin. The project consists of two buildings spanning a combined 349,080 square feet. The property marks Conor’s third development within the Northwest Corporate Park. The site is located 1.5 miles from the Randall Road four-way interchange, which provides access to I-90. The buildings each feature a clear height of 32 feet, 20 dock doors and two drive-in doors. McShane Construction Co. was the general contractor and Ware Malcomb was the architect.

November 7, 2019

Loans Midwest Multifamily Ohio

Maverick Commercial Arranges $2M Acquisition Loan for Manufactured Housing Community in Ohio

by Kristin Harlow November 7, 2019

MIDDLEFIELD, OHIO — Maverick Commercial Mortgage has arranged a $2 million loan for the acquisition of a 152-site manufactured housing community in Middlefield known as Middlefield MHC. The community features a management office, off-street parking and storage units. Ben Kadish of Maverick arranged the 10-year, fixed-rate loan, which features a 30-year amortization schedule. A national lender provided the nonrecourse loan. Borrower Park Place Communities currently owns and operates 35 manufactured housing communities in 13 states.

November 7, 2019

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