GARLAND, TEXAS — Marcus & Millichap has arranged the sale of a three-building, 42,768-square-foot industrial property in Garland, a northeastern suburb of Dallas. The buildings were constructed in 1968 on 2.8 acres. Adam Abushagur and Sam Martin of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors that requested anonymity.
HOUSTON — NAI Partners has negotiated a 12,084-square-foot office lease at 11550 Fuqua St. in Houston for local accounting firm Ham, Langston & Brezina LLP. According to LoopNet Inc., the Class B property was built in 1983. Griff Bandy of NAI Partners represented the tenant in the lease negotiations. The name and representative of the landlord were not disclosed.
CHICAGO — Logistics Property Co. LLC has acquired 3711 S. Ashland Ave., a 6.4-acre infill site in Chicago. The company plans to build a 137,000-square-foot industrial building on the site, which is located one mile from I-55 and two miles from I-94. Construction is expected to begin this summer with completion slated for the first quarter of 2020. Tim McCahill and Terry Grapenthin of Lee & Associates are marketing the property for lease.
MILWAUKEE — Heartland Advisors has unveiled plans to relocate to BMO Tower in the heart of Milwaukee’s central business district. The independent investment firm, which manages mutual funds, will occupy 10,873 square feet on the 12th floor. Alyssa Geisler of CBRE represented Heartland in the lease transaction. Mike Wanezek of Colliers International represented the owner, Irgens. Located at 790 N. Water St., BMO Tower is a 25-story office building currently under construction. The property is expected to open in December. Anchor tenants include BMO Harris Bank and Michael Best & Friedrich. Approximately 160,000 square feet of office space and 12,000 square feet of retail space remain available for lease.
CHICAGO — Velvet Taco, a Texas-based fast casual restaurant, will open its second Chicago location at Lincoln Common, a mixed-use project located in the heart of Chicago’s Lincoln Park. The restaurant will occupy 2,572 square feet beginning in mid- to late-2019. Lincoln Common, currently under development by McCaffery Brokerage and Hines, will feature residential, office, dining, fitness and retail space. Previously announced tenants include Kohler Waters Spa and Equinox Fitness.
HANOVER PARK, ILL. — Schnidt Cartage, a warehouse and distribution company, has renewed its 68,208-square-foot industrial lease in Hanover Park, a western suburb of Chicago. The property is located at 1625 Hunter Road. Mike Plumb and Andrew Block of Lee & Associates represented the owner, Prologis. Jeff Janda of Lee & Associates represented the tenant.
MILWAUKEE — Crescendo Collective has signed an 8,700-square-foot lease within The Factory Office Suites at The 42, an office development in Milwaukee’s Brewery District. The digital marketing firm will occupy the space later this year. Max Rasansky and Alyssa Geisler of CBRE represented the landlord, Scott Lurie. The Boerke Company represented the tenant. Office tenants at The 42 have access to a fitness center, coffee bar, rooftop deck and community lounge. Milwaukee Brewing Co. operates a brewery at the development. Approximately 35,000 square feet of space remains available for lease within the office portion.
LOS ANGELES — Dignity Health California Hospital Medical Center has broken ground on a $215 million campus expansion and modernization project in downtown Los Angeles. The centerpiece of the project is a 150,000-square-foot patient care tower that will add space, privacy and advanced medical technology, as well as increasing capacity and accessibility for emergency, trauma and maternity services. The first floor of the new tower will house larger, private and state-of-the-art emergency and trauma bays resulting in a 51 percent increase in the number of patient care areas. Additionally, the new tower will feature an enhanced neonatal intensive care unit with private rooms and labor and delivery suites, including midwifery services, antepartum and postpartum services. The expansion will also include a new pediatrics unit on the sixth floor of the existing Tibbitts Tower, an emergency mental health observation center adjacent to the new emergency department and a new multi-level parking structure with meeting and retail space on the ground floor. Completion is slated for 2020, with occupancy in 2021. The campus expansion is being funded through a loan of $165 million from Dignity Health and a capital campaign seeking local philanthropic investment of $50 million.
BOTHELL, WASH. — Newmark Knight Frank (NKF) has arranged the sale of Canyon Pointe, a single-tenant office campus located at 22309 and 22213 30th Drive SE in Bothell. Terms of the transaction were not released. T-Mobile occupies the 174,546-square-foot Class A office campus under a long-term lease agreement. Built in 2007 on 9.8 acres, the property includes two three-story buildings with private third-floor balconies, abundant on-site parking, 30,000-square-foot floorplates and an outdoor landscaped area. Kevin Shannon, Nick Kucha, Ken White, Michael Moll and Bill DeLacy of NKF represented the undisclosed seller in the deal.
GARDEN GROVE, CALIF. — Beverly Hills, Calif.-based Valore Ventures has closed on fee simple interest in four brand-name restaurants in Garden Grove for $13.1 million. The restaurants include Oggi’s Pizza & Brewery, Outback Steakhouse, Red Robin Gourmet Burgers and Brews, and Joe’s Crab Shack. The assets are all subject to ground leases and were built between 2001 and 2008 in conjunction with surrounding development that includes three high-rise hotels in Garden Grove. The properties also feature a 2.8-acre parking lot, which is owned by the nearby Sheraton, Marriott and Delta hotels, but is exclusively for restaurant use. Valore Ventures purchased the site as one large parcel, which the company plans to spilt into four individual parcels for sale. Tom Fazekas of Fazekas Retail Group in San Francisco represented the seller in the transaction.