Property Type

Stonebridge Buys 280-Room Hotel Near New Orleans Convention Center

by Alex Tostado February 6, 2019

NEW ORLEANS — Stonebridge Cos. has acquired the 280-room Embassy Suites by Hilton New Orleans Convention Center hotel in New Orleans’ Art and Warehouse District. The hotel offers modern guest rooms, two- and three-room suites, a fitness center, outdoor pool, complimentary breakfast, complimentary drinks and appetizers nightly, on-site restaurant Stacks, a 24-hour business center and more than 8,000 square feet of versatile function space. This is the first hotel acquisition in New Orleans for Denver-based Stonebridge and the company’s third Embassy Suites by Hilton in the United States, joining locations in Austin, Texas, and Anchorage, Alaska. The seller and sales price were not disclosed.

February 6, 2019

New Jersey Northeast Retail

JLL Brokers Sale of 80,504 SF Shopping Center in New Jersey

by David Cohen February 6, 2019

MONMOUTH JUNCTION, N.J. — JLL has brokered the sale of Heritage Square Shopping Center, an 80,504-square-foot shopping center in Monmouth Junction. The sales price was undisclosed. Located at 4180 U.S. Route 1, the center is shadow-anchored by Target and features a tenant roster that includes PetSmart, Bob’s Discount Furniture and Chase Bank. Jim Galbally, Colin Behr, Bill Moylan and Nate Cleland of JLL represented the undisclosed seller in the transaction. The buyer was Wasa Properties.

February 6, 2019

Development Industrial Self-Storage Texas

ARCO/Murray Delivers 825-Unit Self-Storage Facility in Frisco

by Taylor Williams February 6, 2019

FRISCO, TEXAS — Dallas-based design/build firm ARCO/Murray has completed an 825-unit self-storage facility in Frisco on behalf of The Jenkins Organization, a Houston-based self-storage development and management firm. The property spans 116,000 square feet and features 5,000 square feet of climate-controlled wine storage and 1,300 square feet of office space.

February 6, 2019

Development Retail Texas

Victory Real Estate Nears Completion of 26-Acre Retail Project in Fort Worth

by Taylor Williams February 6, 2019

FORT WORTH, TEXAS — Victory Real Estate Group is underway on construction for Victory Shops at Basswood, a 26-acre retail project at the corner of Blue Mound Road and Basswood Boulevard in Fort Worth. According to site plan, German discount grocer Lidl will be the anchor tenant; other tenants will include Chipotle, Verizon and Starbucks. The Fort Worth Star-Telegram reports that Victory will complete construction of the first buildings early this year.

February 6, 2019

Development Multifamily Seniors Housing Texas

Civitas, LKP to Develop 83-Unit Seniors Housing Community in Roanoke, Texas

by Taylor Williams February 6, 2019

ROANOKE, TEXAS — Civitas Senior Living and LKP Ventures will develop Harvest Senior Living, an 83-unit assisted living and memory care community in Roanoke, a northern suburb of Fort Worth. The property will be situated on 5.2 acres along State Highway 114, span 67,000 square feet and offer resort-style amenities. The groundbreaking is slated to occur this spring.

February 6, 2019

Acquisitions Office Texas

Marcus & Millichap Arranges Sale of 25,000 SF Office Portfolio in Grapevine, Texas

by Taylor Williams February 6, 2019

GRAPEVINE, TEXAS — Marcus & Millichap has arranged the sale of a portfolio of five office buildings totaling 25,000 square feet in Grapevine, located on the fringe of DFW International Airport. Cody Payne of Marcus & Millichap represented the seller and procured the buyer, an out-of-state private investor, in the transaction. Other terms of sale were not disclosed.

February 6, 2019

Industrial Leasing Activity Texas

CBRE Negotiates 217,800 SF Industrial Lease in North Houston

by Taylor Williams February 6, 2019

HOUSTON — CBRE has negotiated a 217,800-square-foot industrial lease at 2200 Lauder Road in north Houston. The property was built in 1984 and features 24-foot clear heights. Glynn Mireles of CBRE represented the tenant, concrete supplier Formwork Services & Supply LP, in the lease negotiations. Carlton Anderson of CBRE represented the landlord, Allied Stone Inc.

February 6, 2019

Development Illinois Industrial Midwest

HDA, Kadean Construction Complete 768,678 SF Distribution Center in Edwardsville, Illinois

by Kristin Harlow February 6, 2019

EDWARDSVILLE, ILL. — HDA Architects and Kadean Construction have completed a 768,678-square-foot speculative distribution center in Edwardsville near St. Louis. Known as Lakeview 5, the warehouse is designed for four tenants with office spaces at each corner of the building. This is the second distribution center that HDA has designed at Lakeview Commerce Center on behalf of Panattoni Development.

February 6, 2019

Acquisitions Healthcare Illinois Midwest

Marcus & Millichap Brokers Sale of 61,174 SF Medical Office Building in Rockford, Illinois

by Kristin Harlow February 6, 2019

ROCKFORD, ILL. — Marcus & Millichap has brokered the sale of the Cornerstone Medical Building in Rockford for an undisclosed price. Constructed in 1988 and renovated in 2003, the 61,174-square-foot medical office building is 84 percent leased to a variety of healthcare providers, including pain management, retina care, dermatology, gynecology and orthopedics. Ben Tashakorian and David Benjamin of Marcus & Millichap marketed the property on behalf of the seller, Ephraim LLC. Cornerstone Cos. Inc. purchased the asset.

February 6, 2019

Acquisitions Arizona California Industrial Western

BKM Capital Partners Acquires Three Industrial Portfolios in California, Arizona for $138.7M

by Amy Works February 6, 2019

NEWPORT BEACH, CALIF. — Newport Beach, Calif.-based BKM Capital Partners, through its BKM Industrial Value Fund II, has acquired three industrial portfolios for a combined consideration of $138.7 million. The company purchased a two-property portfolio consisting of four buildings totaling 99,187 square feet in metro San Diego. 3G Properties sold the properties for $16.6 million. At the time of sale, the property was 96 percent occupied with rents that range from 20 percent to 39 percent below market rate. The properties include Del Abeto Commerce Center, located at 6325 and 6354 Corte del Abeto in Carlsbad, Calif.; and Waples Industrial Centre, located at 9540 and 9550 Waples St. in Sorrento Mesa, Calif. Mark Avilla at Cushman & Wakefield represented the seller, while BKM was self-represented in the deal. BKM also acquired South Bay Portfolio, a five-building light industrial portfolio in Fremont, Calif., from Stockbridge for $49 million. Located at 48430-48490 Lakeview Blvd. and 48500-48560, 48400, 47745-47787 and 47703-47737 Fremont Blvd., the portfolio totals 221,651 square feet. At the time of sale, the portfolio was 94 percent occupied by a diverse range of 13 tenants with unit sizes ranging from 4,800 square feet to 42,500 square feet. Eastdil Secured represented the seller, …

February 6, 2019

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