Property Type

Tobacco Company Renews 238,437 SF Industrial Lease in Tampa

by Alex Tostado June 14, 2019

TAMPA, FLA. — ITG Brands LLC, the third largest tobacco company in the United States, has renewed its 238,437-square-foot industrial lease at East Meadow Distribution in Tampa for 10 years. The company has occupied the entire facility for the past 15 years. East Meadow is located within five miles of Interstates 75 and 4, and is near the Port of Tampa and Port Manatee. Rick Narkiewicz and John Esposito of Newmark Knight Frank represented the tenant in the lease negotiations. Cushman & Wakefield represented the landlord, UBS Financial Services Inc.

June 14, 2019

Loans Multifamily Texas

PGIM Provides Two Fannie Mae Loans Totaling $111M Loan for Refinancing of Austin Apartments

by Taylor Williams June 14, 2019

AUSTIN, TEXAS — PGIM Real Estate Finance has provided two Fannie Mae loans totaling $111 million for the refinancing of Gables Park Plaza and Gables Park Tower, two adjacent apartment complexes totaling 513 units in Austin. The borrower was Clarion Gables Multifamily Trust. Tom Goodsite of PGIM led the debt placement effort, which included the origination of a 10-year loan for Gables Park Plaza and a 12-year loan for Gables Park Tower. Both properties offer amenities such as pools, outdoor courtyards with grilling stations, sky lounges, theaters, game rooms, conference centers and bocce ball courts. Additional loan terms were not disclosed.

June 14, 2019

Leasing Activity Office Texas

Accesso Signs Two Tenants to 200,000 SF of Office Space in Northwest Austin

by Taylor Williams June 14, 2019

AUSTIN, TEXAS — Office investment firm Accesso has signed two leases totaling 200,000 square feet at Riata Corporate Park, a 61.5-acre office campus in northwest Austin. Global pharmaceutical company Allergan has leased 107,000 square feet at the eight-building campus, which offers multiple fitness centers, an employee lounge and a deli café. In addition, an unnamed Silicon Valley-based computer company will occupy 93,000 square feet at Riata Corporate Park. Mike Brown and Will Stewart of Transwestern negotiated both leases on behalf of Accesso.

June 14, 2019

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Brokers Sale of 173-Unit Self-Storage Facility in Temple, Texas

by Taylor Williams June 14, 2019

TEMPLE, TEXAS — Marcus & Millichap has brokered the sale of The Storeroom, a self-storage facility located in the Central Texas city of Temple that consists of 173 non-climate-controlled units and 22 uncovered parking spaces. Spanning 20,675 square feet, the property includes a leasing office and showroom, 24-hour video surveillance and perimeter fencing and lighting. Brandon Karr and Danny Cunningham of Karr Self-Storage, a division of Marcus & Millichap, represented the seller, a private investor, in the transaction. The buyer was a Texas-based partnership.

June 14, 2019

Leasing Activity Office Texas

Common Desk Begins Leasing 52,000 SF Coworking Space at Trammell Crow Center in Dallas

by Taylor Williams June 14, 2019

DALLAS — Common Desk, a coworking concept with five locations in the metroplex, has begun leasing its 52,000-square-foot space at Trammell Crow Center in the Arts District neighborhood of Dallas. The space offers amenities such as a coffee bar, golf simulator, speakeasy-style bar, a game lounge and conference rooms. Sara Terry and Scott Sowanick of Stream Realty Partners are representing Common Desk in the leasing and management of the space.

June 14, 2019

Acquisitions Retail Texas

STRIVE Arranges Sale of 6,571 SF Retail Strip Center in McKinney

by Taylor Williams June 14, 2019

MCKINNEY, TEXAS — Dallas-based retail brokerage firm STRIVE has arranged the sale of The Shops at Lake Forest, a 6,571-square-foot retail strip center located in the northern Dallas suburb of McKinney. The four-tenant property was built in 2018 and is situated along Collin McKinney Parkway just north of the Sam Rayburn Tollway. The average household income within a one-mile radius of the property exceeds $131,000. STRIVE worked with an outside broker to procure the buyer and represented the seller, both of which were locally based private investors.

June 14, 2019

Acquisitions Arizona Office Western

DRA Advisors Acquires Camelback Lakes Office Building in Phoenix for $47.5M

by Amy Works June 14, 2019

PHOENIX — New York-based DRA Advisors has purchased Camelback Lakes, a multi-story office building located at 2710, 2720, 2730 and 2850 E. Camelback Road, for $47.5 million. Developed in 1983, the four-building asset features 203,290 square feet of office space with a detached parking deck. At the time of sale, the property was 85 percent occupied. Mainstreet Capital will provide property management services, while Keith Lambeth of Cushman & Wakefield will provide leasing services for the property. Chris Toci and Chad Littell of Cushman & Wakefield, supported by the agency leasing team of Keith Lambeth, closed the transaction.

June 14, 2019

Acquisitions Arizona Multifamily Western

29th Street Capital Buys 168-Unit Las Casitas Apartments in Arizona

by Amy Works June 14, 2019

AVONDALE, ARIZ. — 29th Street Capital (29SC) has purchased Las Casitas Apartments, a multifamily community located in Avondale, for an undisclosed price. The name of the seller was not released. 29SC plans to invest more than $2.1 million in capital improvements at the 168-unit property. Planned interior upgrades include black appliances, improved lighting, USB ports, refaced cabinets, fresh paint and kitchen backsplashes, while exterior renovations include enhancing the dog park, clubhouse, pool area and other amenities. The buyer also plans to address deferred maintenance at the community. The acquisition is 29SC’s 13th in the Phoenix market, for a total of more than 2,500 units.

June 14, 2019

Acquisitions Arizona Multifamily Western

IPA Arranges $24M Sale of 164-Unit Apartment Complex in Tempe, Arizona

by Amy Works June 14, 2019

TEMPE, ARIZ. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has completed the sale of MarQ at 1st, an apartment community located in Tempe. Knightvest Capital acquired the property from Western Wealth Capital for $24 million, or $146,341 per unit. Constructed in 1985, MarQ at 1st features 164 apartments and is situated less than a mile from Arizona State University’s main campus and Tempe’s Mill Avenue District, which offers a mix of more than 125 local eateries and boutique retailers. Cliff David and Steve Gebing of IPA represented the seller and procured the buyer in the deal.

June 14, 2019

Acquisitions California Office Western

Kilroy Realty Sells Westlake Plaza Centre Office Building in Southern California for $18.2M

by Amy Works June 14, 2019

WESTLAKE VILLAGE, CALIF. — Kilroy Realty Corp. has completed the disposition of Westlake Plaza Centre 2, an office building located at 2829 Townsgate Road in Westlake Village. Majestic Asset Management and The Johnston Group acquired the property for $18.2 million. Built in 1990 and situated on 1.2 acres, the three-building asset features 84,098 square feet of office space. Sean Fulp, Ryan Plummer and Mark Schuessler of Newmark Knight Frank represented the seller in the deal.

June 14, 2019

Newer Posts

Older Posts