Property Type

Oxford Enterprises Acquires 224-Unit Multifamily Asset in Greater Houston

by Taylor Williams January 17, 2019

WALLER, TEXAS — Dallas-based investment firm Oxford Enterprises Inc. has acquired The Ranch at Waller, a newly built, 224-unit multifamily asset in Waller, a northwestern suburb of Houston. The property offers one-, two- and three-bedroom units and amenities such as a resort-style pool with a spa, fitness center, game room and an outdoor cooking area. Will Balthrope, Drew Kile, Jennifer Campbell and Michelle Kneeland of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller, T.R. Inscore LLC, in the transaction. The trio also procured Oxford Enterprises for the deal.

January 17, 2019

Leasing Activity Office Texas

Energy Firms Signs 20,423 SF Office Lease in Houston

by Taylor Williams January 17, 2019

HOUSTON — Murex Petroleum Corp. has signed a 20,423-square-foot lease at 363 North Belt, an office building located at 363 N. Sam Houston Parkway in Houston. According to LoopNet Inc., the property was built in 1982 and totals 223,158 square feet. Terri Torregrossa and Kurt Kistler of Moody Rambin represented the landlord, TA Realty Associates, in the lease negotiations. Ryan Fassett and Josh Marcell, also of Moody Rambin, represented Murex.

January 17, 2019

Healthcare Leasing Activity Texas

Healthcare Provider to Relocate Headquarters from Irving to 20,258 SF Space in Plano

by Taylor Williams January 17, 2019

PLANO, TEXAS — Healthcare Associates of Texas, a full-service primary care provider, will relocate its corporate headquarters from Irving to a 20,258-square-foot space within International Business Park (IBP) in Plano, a northeastern suburb of Dallas. Matt Heidelbaugh and Cribb Altman of Cushman & Wakefield represented Healthcare Associates of Texas in its site selection and lease negotiations. Trevor Franke and Gini Rounsaville of Peloton Commercial Real Estate represented the landlord, IBP 7 LP. More than 100 employees will move into the new space, which is expected to be available for occupancy by March. . IBP is a 300-acre master-planned office park that features 24/7 security, onsite property management and maintenance, a fitness center, café and deli, basketball court, weekly food courts, event space and Booster Fuels, a fuel-delivery service.

January 17, 2019

Development Illinois Industrial Midwest

Conor Commercial Completes Development of 316,550 SF Logistics Center in Chicago

by Kristin Harlow January 17, 2019

CHICAGO — Conor Commercial Real Estate has completed development of Last Mile Logistics Center I-55, a speculative industrial facility in Chicago. The 316,550-square-foot property is situated on an infill site at the intersection of 51st Street and St. Louis Avenue. The facility features 55 truck docks, 71 trailer stalls, 50-foot bays and a clear height of 36 feet. McShane Construction Co. and Ware Malcomb provided the design-build services. Walter Murphy and Sean Austin of Lee & Associates will market the property for lease.

January 17, 2019

Acquisitions Illinois Midwest Multifamily

Marcus & Millichap Arranges $12.2M Sale of Apartment Building in Chicago

by Kristin Harlow January 17, 2019

CHICAGO — Marcus & Millichap has arranged the sale of a four-story apartment building in Chicago’s Rogers Park neighborhood for $12.2 million. Located at 1345 W. Estes Ave., the property includes 81 units with a mix of floor plans. The building was originally constructed in 1930. James Ziegler of Marcus & Millichap marketed the property on behalf of the private seller. Ziegler, along with Keith Zelenika, secured and represented the buyer, an out-of-state investor.

January 17, 2019

Development Industrial Midwest Minnesota

Opus Completes 86,632 SF Industrial Building in St. Paul, Minnesota

by Kristin Harlow January 17, 2019

ST. PAUL, MINN. — The Opus Group has completed an 86,632-square-foot industrial building located within the St. Paul Port Authority’s Beacon Bluff Business Center. Terracon Consultants Inc., a multi-disciplinary engineering consulting firm, will occupy 15,300 square feet of the building. The facility features a clear height of 24 feet and both warehouse and office space. Todd Hanson and Jason Sell of Cushman & Wakefield are marketing the property for lease. The Beacon Bluff Business Center is an office and industrial development situated on nearly 40 acres.

January 17, 2019

Acquisitions Illinois Industrial Midwest

Plymouth Industrial REIT Acquires Facility in Burr Ridge, Illinois for $5M

by Kristin Harlow January 17, 2019

BURR RIDGE, ILL. — Plymouth Industrial REIT Inc. (NYSE: PLYM) has acquired a multi-tenant industrial building in Burr Ridge near Chicago for $5 million. Known as 44 Tower Road, the facility spans 73,785 square feet. World PAC, a distributor of automotive parts, and Hydra Stop, a water control solutions provider. The seller was not disclosed.

January 17, 2019

Acquisitions Illinois Midwest Retail

Brookline Brokers $2.6M Sale of Retail Building in Illinois

by Kristin Harlow January 17, 2019

LAKE IN THE HILLS, ILL. — Brookline Real Estate & Investments has brokered the $2.6 million sale of a 6,584-square-foot retail building in Lake in the Hills, about 45 miles northwest of Chicago. The property, located at 280 N. Randall Road, is fully leased by Dunkin’ Donuts and Athletico. Brookline represented the buyer, while RN Realty represented the seller.

January 17, 2019

Industrial Kansas Market Reports Midwest Midwest Market Reports

Johnson County, Kansas: A Midwest Hub for Industry and Innovation

by Kristin Harlow January 17, 2019

Once referred to by developers as a “well-kept secret,” the Kansas City metro area is quickly developing a global reputation for skilled workforce, strong infrastructure, affordable housing and competitive overhead costs like transportation and utilities. “Kansas City is a region rising. We are dispelling the notion that Kansas City is a well-kept secret,” says Tim Cowden, president and CEO of Kansas City Area Development Council. “There is growing recognition among site locators and corporate executives that the Kansas City region is an excellent option for any number of business types, including financial services, technology centers, animal health, e-commerce or industrial.” I-35 corridor As one of the most populous counties in the metro area, Johnson County, Kansas, appeals particularly to business and industry seeking to locate outside the downtown Kansas City core. The county has added an average of 6,500 residents each year for the past decade, and private development is keeping pace. Residential and retail projects dot the I-35 corridor northeast of Olathe, Kansas, the Johnson County seat. Southwest Johnson County, meanwhile, has become an industrial heavyweight with two parks located just off the interstate. “Johnson County has a formula for success with the quality of the workforce, infrastructure that’s …

January 17, 2019

Features Midwest Multifamily Northeast Southeast Student Housing Texas Western

NKF Multifamily: Student Housing Sector Outlook for 2019

by Katie Sloan January 17, 2019

To ring in the New Year, Student Housing Business — sister publication to REBusinessOnline — sat down with Ryan Lang, executive managing director and head of Newmark Knight Frank’s student housing division, to discuss his outlook for the year ahead. SHB: What challenges will your market face in 2019? Where are the opportunities within these challenges? Lang: It appears volatility on the capital markets side will continue to be closely monitored heading into 2019 and beyond. There remains great opportunity as the student market, as a whole, is fundamentally sound and viewed as a risk averse asset class within the larger investment community. SHB: Which submarkets will surprise people in 2019? Lang: While average occupancy at major Tier I universities continues to be stable near 95 percent, we believe several markets that have been supply constrained over the past few academic year cycles will begin making noticeable recoveries. Of note, we believe Texas Tech (Lubbock), Ole Miss (Oxford), and Michigan State (Lansing) have the potential to outperform investor expectations. SHB: What market shifts are you noticing that others haven’t? What would you whisper to clients and prospects? Lang: Along with newer construction product, there are clearly more opportunistic assets hitting the market and more yield driven …

January 17, 2019

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