TYLER, TEXAS — Marcus & Millichap has brokered the sale of Trane Distribution Center, a 536,141-square-foot industrial facility in Tyler, about 100 miles east of Dallas. The property was built in 1949 on 36.9 acres and was fully leased at the time of sale to Trane, a manufacturer of heating and air conditioning systems. Adam Abushagur of Marcus & Millichap represented the seller in the transaction and procured the buyer, both of which were undisclosed private investors. Additional terms of sale were not released.
SAN ANTONIO — JLL has negotiated the sale of Kenton Place Apartments, a 244-unit multifamily community located at 14650 Nacogdoches Road in San Antonio. The property offers one-, two- and three-bedroom units and amenities such as a pool, fitness center, playground, a sports court, dog park and onsite laundry facilities. Moses Siller and Zar Haro of JLL negotiated the deal on behalf of the seller, Bruggeman Properties LLC. Mark Brandenburg and C.W. Sheehan of JLL arranged acquisition financing through Chicago-based NXT Capital on behalf of the buyer, Austin-based GVA Real Estate Group.
DALLAS — Local investment firm MoxieBridge has acquired Midtown Office Center, a 169,808-square-foot office complex in Dallas. The new ownership will implement a value-add program that will deliver new amenities, such as a fitness facility, conference room and a lounge/bar. Midtown Office Center was less than 10 percent leased when MoxieBridge officially acquired the asset in May, but the company has since negotiated nearly 50,000 square feet worth of new leases. MoxieBridge, which launched in 2018, now owns approximately 700,000 square feet of office space in North Texas. The seller was not disclosed.
SAN ANTONIO — NorthMarq Capital has arranged a loan of an undisclosed amount for the refinancing of Hidden Oaks Apartments, a 124-unit multifamily community in San Antonio. Bryan Leonard of NorthMarq negotiated the loan, which carried a fixed interest rate and a 10-year term followed by an amortizing payment schedule, on behalf of the undisclosed borrower. UNUM Group, a life insurance company based in Tennessee, provided the funds.
AUSTIN, TEXAS — Nordic Realty Partners, a privately held investment firm with offices in Los Angeles, Austin and Chicago, has purchased a 76,000-square-foot industrial property located within Cameron Industrial Park in northeast Austin. The property spans four acres and houses three warehouse buildings. The seller, Byram Properties, has owned the buildings since 1984.
SHEBOYGAN, WIS. — Marcus & Millichap has brokered the $8.9 million sale of Champion Self-Storage, a 999-unit self-storage portfolio in Sheboygan. The portfolio includes five facilities, three of which are located on Playbird Road. The unit mix is comprised of 65 climate-controlled units, 734 non-climate controlled units, 18 storage containers, six warehouse spaces and 176 parking spaces for boats and recreational vehicles. The portfolio accounts for nearly half of the available self-storage space in Sheboygan, according to Marcus & Millichap. Sean Delaney of Marcus & Millichap brokered the transaction. Buyer and seller information was not disclosed.
NILES, ILL. — SEDCO Capital, an asset management company headquartered in Saudi Arabia, has purchased a distribution facility occupied by FedEx Ground in the Niles submarket of Chicago. The purchase price was not disclosed. SEDCO used a separate account managed by ElmTree Funds LLC to acquire the property. The 306,448-square-foot facility is located at 5959 W. Howard St. Originally constructed in 2015 as a build-to-suit for FedEx Ground, the net-leased property features 101 dock doors. FedEx has approximately 11 years remaining on its lease.
JANESVILLE, WIS. — Zilber Property Group has unveiled plans to develop a 300,000-square-foot speculative industrial building in Janesville. Known as Zilber Industrial 1 at Janesville, the building will be situated on an 18-acre site at the corner of Beloit Avenue and Highway 11. The facility will feature a clear height of 32 feet, LED lighting, an ESFR sprinkler system, on-site trailer parking and expandable loading options. A timeline for completion was not disclosed.
HIGHLAND PARK, ILL. — Berger Asset Management has sold a 52,000-square-foot retail building known as the Tesla Building in Highland Park. The sales price was not disclosed. The two-story property is located at 1200 Old Skokie Valley Road. The anchor tenant, Tesla, occupies 32,000 square feet. Bystol Performance Center, a sports performance and personal training firm, occupies the remaining 20,000 square feet. In order to develop the property, Berger Asset Management first had to complete three different acquisitions from unrelated parties to form an assemblage that would ultimately create the existing asset and 140-space parking lot. The site originally consisted of a series of buildings with 10 parking spaces. Tesla signed on as a tenant at the building in 2014. At the location Tesla provides sales, service and charging stations for its north suburban Chicago and southeast Wisconsin clientele. Bystol Performance Center also signed its lease in 2014. Joshua Silverglade of The Equitable Group of Companies represented Berger in the transaction. The buyer, a Hawaii-based private investor, purchased the asset while completing a 1031 tax-deferred exchange.
NEW LENOX, ILL. — HSA PrimeCare, the national healthcare real estate division of HSA Commercial Real Estate, has begun development of a 40,000-square-foot medical office building on Silver Cross Hospital’s campus in New Lenox, immediately west of the I-355/I-80 interchange and about 40 miles southwest of Chicago. Scheduled for completion in December, the facility will house the hospital’s urgent care, occupational health and primary care clinics. Eppstein Uhen Architects is the architect. PREMIER Design + Build is the general contractor.