DEERFIELD, ILL. — Colliers International principals Darryl Silverman and Steve Kling recently negotiated office leases totaling more than 116,000 square feet at Parkway North Center in Deerfield. Colliers represented building ownership, Fulcrum Asset Advisors and True North Management. At Six Parkway North, Lundbeck and Advanced Clinical signed leases. The property is now 95 percent leased. Lundbeck, a global pharmaceutical company, leased an additional 24,500 square feet to bring its total footprint to 73,000 square feet. John Goodman of Savils represented Lundbeck. Advanced Clinical signed a new lease for 16,521 square feet and will relocate from Ten Parkway North. Larry Serota and John Marquardt of Transwestern represented the tenant. At Nine Parkway North, now 88 percent leased, Michael Silver & Co. leased 19,253 square feet. The firm will relocate from Skokie in 2020. John Goodman and Isabel Preskill of Savils represented the accounting and consulting firm. Global executive search and leadership consulting firm Spencer Stuart leased 7,890 square feet. Bill Rogers and Isabelle Montagne of JLL represented the tenant.
HOUSTON — Los Angeles-based Cottonwood Group and Hana Alternative Asset Management have provided a $102 million loan for the refinancing of Intercontinental Houston-Medical Center, a 354-room hotel in Houston. The 22-story luxury hotel opened in March and features food and beverage offerings, a lobby bar, outdoor pool, fitness center, workstations and more than 11,000 square feet of meeting and ballroom space. The borrower was Texas-based developer Medistar Corp.
SPRINGFIELD, ILL. AND DES MOINES, IOWA — Maverick Commercial Mortgage Inc. has arranged a $12.7 million first-mortgage loan on behalf of MHPI Inc. for a portfolio of four manufactured housing communities located in Springfield, Ill. and Des Moines. The portfolio includes a combined 303 pad sites. The three Springfield communities were built within the last 15 years. The community in Des Moines features a clubhouse, swimming pool, community room and small self-storage facility. Benjamin Kadish of Maverick arranged the seven-year, fixed-rate loan with an undisclosed national lender. Proceeds paid off the existing lender and paid for closing costs. Arnold Weinberg of Much Shelist represented MHPI.
TOLEDO, OHIO — The Boulder Group has brokered the sale of a single-tenant property net leased to Taco Bell in Toledo for $1.8 million. The building is located at 2234 W. Alexis Road. There are 15 years remaining on Taco Bell’s lease, which is guaranteed by Charter Foods North LLC. Randy Blankstein and Jimmy Goodman of Boulder represented the seller, a Midwest-based real estate investment company. A 1031 exchange buyer purchased the property.
NEWPORT BEACH, LAGUNA BEACH, YOUNTVILLE AND CORONA DEL MAR, CALIF. — JLL has arranged $110 million in acquisition financing for Boardwalk Investments Group. The funds will be used for the purchase of a 12-property retail portfolio in Southern California. John Chun, John Marshall, Sam Godfrey and Jake Fideler of JLL Capital Markets placed the three-year, floating-rate loan with two one-year extension options. Michael Mestel of H.I.G. Realty Partners ran the transaction on behalf of the lender’s retail estate credit fund. Key assets in the portfolio include a CVS/pharmacy-anchored shopping center located at 30814-30936 Pacific Coast Highway in Laguna Beach; a Pavilions-anchored retail center at 3100-3152 Newport Blvd. and a high-street retail asset located at 2902 West Coast Highway in Newport Beach; a fine-dining retail property located at 6725 Washington St. in Yountville; and multiple coastal assets in Newport Beach.
FULLERTON, CALIF. — Goodman Group has acquired a 65-acre manufacturing and distribution property in Fullerton and plans to redevelop the site into a modern logistics campus named Goodman Logistics Center Fullerton. The project will support construction of up to 1.5 million square feet of new space, offering tenants space ranging from 170,000 square feet to 1.5 million square feet across a four-building campus. Slated for delivery in late 2021, the campus will feature potential for cargo/commuter rail service, significant paved trailer parking and cross-dock functionality with multiple points of ingress/egress. Glenn Dyke, Darla Longo and Barbara Emmons of CBRE represented the undisclosed seller, while Sean Ward and Ben Seybold, also of CBRE, were instrumental in the sale of the former distribution center.
PHOENIX — Denver-based Highline Property Group has purchased Bloom 24, an apartment community in Phoenix. LWH Bloom Apartments 24 sold the property for $17.1 million, or $150,438 per unit. Constructed in 1973 and fully renovated in 2015, Bloom 24 features 114 apartments in a mix of floor plans with stainless steel appliances, designer cabinetry, laminate countertops and breakfast bars. The modernized, loft-style units average 1,100 square feet and feature oversized windows. Community amenities include a swimming pool with cabanas, a fitness center and patio picnic areas. Cliff David and Steve Gebing of Institutional Property Advisors, a division of Marcus & Milichap, represented the seller and procured the buyer in the deal.
NAMPA, IDAHO — Watchman Properties has acquired The Storage Co., a self-storage asset located in Nampa, approximately 20 miles west of Boise. A local family sold the property for an undisclosed price. Totaling 95,962 square feet, the self-storage facility features 555 rentable spaces, 408 drive-up, enclosed storage units and 147 outdoor parking spaces. The property also includes 4.5 acres of undeveloped land. Originally developed in 1957 for agricultural use, the asset was converted to self-storage space in 1995. The fully fenced and gated facility features keypad access and 24-hour video surveillance with off-site monitoring. Jordan Farrer and Adam Schlosser of The LeClaire Group of Marcus & Millichap represented the seller, while Andrew Helm, also of The LeClaire Group, procured the buyer in the transaction.
FOUNTAIN, COLO. — CBRE has arranged the sale of E Shops at Mesa Ridge, a retail center located at 6825 Mesa Ridge Parkway in Fountain. A Los Angeles-based private real estate fund sold the asset to a private discretionary investor for $4.1 million. Built in 2013, the 9,380-square-foot property features five tenant spaces. At the time of sale, the property was fully occupied by Noodles & Co., Sprint, Jersey Mike’s, Sports Clips and H&R Block. Parker Brown, Matthew Henrichs and Brad Lyons of CBRE Capital Markets, National Retail Partners, represented the seller in the deal.
ODESSA, TEXAS — Florida-based investment firm Advenir LLC has acquired Advenir at Legado Ranch, a 360-unit apartment community located in the West Texas city of Odessa. Built in 2018, the property offers one- and two-bedroom units averaging 908 square feet per unit and offering granite countertops, hardwood floors, walk-in closets, in-unit washers and dryers and patios. Amenities include a pool, clubhouse, media center, fitness center and a dog park. Eric Tupler, Josh Simon and Matthew Putterman of JLL originated an undisclosed amount of Freddie Mac fixed-rate acquisition financing for the deal. The property was more than 91 percent occupied at the time of the loan closing.