Property Type

Stumpy’s Hatchet House Signs 5,800 SF Retail Lease in Erie, Pennsylvania

by Alex Patton December 20, 2019

ERIE, PA. — Entertainment concept Stumpy’s Hatchet House has signed a 5,800-square-foot lease at Liberty Center I shopping center in Erie, located approximately 130 miles north of Pittsburgh. The site will include 10 hatchet-throwing pits and aims to be a social gathering place with light snacks sold onsite. Guests can bring their own wine, beer and food. Other tenants of the 230,000-square-foot shopping center include regional grocery chain Top Friendly Markets, Peebles department store and PNC Bank. Drew Baldwin of Baldwin Brothers Inc. represented Stumpy’s in the lease negotiations. Sherry Bauer of Sherry Bauer Real Estate Services represented the landlord, Levin Management Corp.

December 20, 2019

Acquisitions Midwest Missouri Retail

JLL Arranges Sale of 86,931 SF Retail Center in Suburban St. Louis

by Kristin Harlow December 20, 2019

FENTON, MO. — JLL has arranged the sale of Gravois Place in Fenton, about 20 miles southwest of downtown St. Louis, for an undisclosed price. The 86,931-square-foot retail center is fully leased and anchored by Gold’s Gym. Situated at 635 Gravois Road, the property is also home to SkyZone Trampoline Park and St. Vincent DePaul. Aaron Johnson, Chris Murphy, Ross Crawford and Danny Kaufman of JLL marketed the property on behalf of the seller, RBR Real Estate Holdings LLC. Mark Sher of KW Commercial represented the undisclosed buyer.

December 20, 2019

Acquisitions Indiana Industrial Midwest

Colliers Brokers Sale-Leaseback of 200,000 SF Industrial Building in Greenfield, Indiana

by Kristin Harlow December 20, 2019

GREENFIELD, IND. — Colliers International has brokered the sale-leaseback of Mount Comfort Building 115 in Greenfield, about 25 miles east of Indianapolis, for an undisclosed price. The 200,000-square-foot modern bulk facility will be expanded to 386,000 square feet. The building’s occupant, Brybelly Holdings Inc., will lease back the property after its expansion on a new 10-year lease. Originally developed in 2016, the building sits on 26 acres within Alliance Interstate Park. Alex Cantu, Brian Zurawski and Alex Davenport of Colliers represented Brybelly in the sale. Exeter Properties purchased the asset. Brybelly specializes in dropship services, which is a direct to consumer business model.

December 20, 2019

Development Mixed-Use Texas

Ryan Cos. to Develop 60-Story Mixed-Use Tower in Downtown Austin

by Taylor Williams December 20, 2019

AUSTIN, TEXAS — Minneapolis-based Ryan Cos. will develop a 60-story mixed-use tower at 311 and 321 W. 6th St. in downtown Austin. Designed by Page, the building will rise 770 feet and span 530,371 square feet. Levels 12 through 17 will comprise 120,000 square feet of Class A office space. Levels 20 through 60 will consist of 363 multifamily units, 75 percent of which will be studio and one-bedroom residences. The remainder will be two- and three-bedroom units. The other floors will be reserved for parking and retail. Residential amenities will include a pool, fitness center, media room, pet park and a 3,000-square-foot clubhouse on the top floor. A construction timeline was not released, but Ryan Cos. plans to propose the project to the Austin City Council before the end of the year. BBVA currently occupies a bank branch at the Sixth Street site and plans to lease 4,000 square feet in the new development. CBRE advised BBVA on this project.

December 20, 2019

Acquisitions Affordable Housing Midwest Minnesota Office

Upland Negotiates Sale of Minneapolis Office Building for Affordable Housing Project

by Kristin Harlow December 20, 2019

MINNEAPOLIS — Upland Real Estate Group Inc. has negotiated the sale of the Rockler Fur building in downtown Minneapolis for an undisclosed price. The buyer, Beacon Interfaith Housing Collaborative, plans to convert the property into 48 units of affordable housing. The seven-story, 38,305-square-foot building was originally built as a Printer’s Exchange building in 1915 with a Gothic Revival style. Rockler Fur has occupied the property since the 1940s. Upland will also represent Rockler in its relocation process in spring 2020.

December 20, 2019

Illinois Industrial Leasing Activity Midwest

Luxor Workspaces Begins Occupying 190,000 SF Warehouse in Gurnee, Illinois

by Kristin Harlow December 20, 2019

GURNEE, ILL. — Luxor Workspaces has expanded its warehouse operations to a newly built, 190,000-square-foot warehouse along I-94 in Gurnee. The move, which took place prior to the Thanksgiving holiday, was expected to create eight new jobs and enhance Luxor’s level of service to its Midwest customers. CenterPoint Properties developed the warehouse and Morgan/Harbour Construction served as general contractor. Sam Badger of CBRE represented Luxor in the search for the new property. Vivek Singla of CBRE served as Luxor’s tenant improvement project manager during the final buildout. Features of the distribution center include a clear height of 36 feet, 22 docks and a 7,000-square-foot office space with a conference room and break room. Waukegan, Ill.-based Luxor is a designer and manufacturer of workspace products.

December 20, 2019

Development Kansas Midwest Retail

Darland Construction Completes Conversion of Former Kmart into Multi-Tenant Shopping Center in Topeka

by Kristin Harlow December 20, 2019

TOPEKA, KAN. — Darland Construction Co. has completed the conversion of a former Kmart store in Topeka into Wanamaker Hills Shopping Center. The 108,546-square-foot retail property is now home to Ulta, Old Navy, DSW, Five Below and Petco. Equity Investment Group, an Indiana-based developer, bought the property in 2014. Schwerdt Design Group was the project architect.

December 20, 2019

Acquisitions Industrial Texas

Hines Acquires 738,198 SF Inwood Trade Center Business Park in Dallas

by Taylor Williams December 20, 2019

DALLAS — Hines has acquired Inwood Trade Center, a 738,198-square-foot infill business park located in the North Trinity submarket of Dallas. The 14-building development is situated on 38 acres and located less than three miles from downtown and Uptown Dallas as well as Dallas Love Field Airport. The buildings were constructed between 1961 and 1978 and were 98 percent leased at the time of sale. Houston-based Hines will implement a value-add program to refresh the buildings’ façades, signage and landscaping. Omniplan is designing the repositioning, and Holt Lunsford Commercial will handle leasing of the upgraded spaces.

December 20, 2019

Acquisitions Industrial Office Texas

Mohr Capital Buys 404,800 SF Office, Industrial Portfolio in Austin for $100M

by Taylor Williams December 20, 2019

AUSTIN, TEXAS — Dallas-based investment firm Mohr Capital has purchased a 404,800-square-foot office and industrial portfolio in Austin for $100 million. The portfolio includes a 160,000-square-foot industrial building leased to Amazon and Uber and a four-building, 244,800-square-foot office facility leased to a mix of technology, government and healthcare tenants. JLL represented the seller, Zydeco Development, in the transaction. Boyd Messmann and Kyle Campbell represented Mohr Capital on an internal basis.

December 20, 2019

Acquisitions Multifamily Texas

CBRE Brokers Sale of 300-Unit Iron Rock Ranch Apartment Community in Austin

by Taylor Williams December 20, 2019

AUSTIN, TEXAS — CBRE has brokered the sale of Iron Rock Ranch, a 300-unit apartment community in south Austin. Built on 22 acres in 2002, the property consists of 216 apartments and 84 townhomes. Amenities include two pools, a fitness center, playground, pet park, basketball court and a volleyball court. Charles Cirar, Michael Wardlaw and Colin Cannata of CBRE represented the seller in the transaction. John Fenoglio of CBRE arranged acquisition financing on behalf of the buyer, Houston-based Domain Communities.

December 20, 2019

Newer Posts

Older Posts