OMAHA — Flywheel, a web hosting company, has leased 66,000 square feet within the Millwork Commons development in Omaha for its new headquarters. Millwork Commons is a $300 million mixed-use development spearheaded by Black Dog Management. Flywheel will be the anchor tenant and will occupy 1.5 floors at the property by summer 2020. Currently, Flywheel employs a team of more than 200 people with offices in Omaha, Australia and Europe. Barry Zoob and Chris Mensinger of Colliers International represented Flywheel in the lease transaction.
NORTH AURORA, ILL. — Marcus & Millichap has brokered the sale of Randall Road Self Storage, a 640-unit self-storage facility in North Aurora. The sales price was not disclosed. The facility, located at 1051 Kettle Ave., encompasses a total of 76,696 rentable square feet. Sean Delaney and Michael Mele of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. The team also secured the buyer, Merit Hill Capital.
KIRKWOOD, MO. — Howard Commercial has arranged the sale of a two-story, 4,000-square-foot office building in Kirkwood, a suburb of St. Louis. The sales price was not disclosed. The building, located at 108 N. Kirkwood Road, includes first-floor retail space. Howard represented the buyer, Bean Realty, which plans to open a specialty popcorn retail store within the retail space. A digital marketing company occupies the second floor.
NORTHVILLE, MICH. — Burn Boot Camp has leased 6,240 square feet to open a Northville location at 16831-16863 Ridge Road. The North Carolina-based fitness center franchise has more than 65 locations nationally. This will be the company’s fourth fitness center in Michigan. The company offers high-intensity classes that last 45 minutes. Thomas Wardlow of Colliers International represented the tenant in the lease transaction. The landlord was not disclosed. Burn Boot Camp hopes to be open before the end of the year.
LAFAYETTE, LA. — Dallas-based Abby Development has broken ground for The Vincent, a seniors housing development in Lafayette. Situated on 20 acres on Verot School Road, The Vincent will feature 255 units comprising independent living apartments and cottages, as well as assisted living and memory care units. Onsite community amenities will include a stocked fishing lake, multiple landscaped courtyards with water features, walking trails, movie theaters, indoor and outdoor swimming pools, pharmacy and general store, libraries and a fitness center. Additionally, residents will have access to housekeeping, transportation, laundry service and meals prepared in-house by executive chefs. The one- and two-bedroom independent living apartments and two- and three-bedroom independent living cottages will feature private patios/balconies, high-end finishes, full-size washer/dryer connections and fully equipped kitchens. Each cottage will also include a private two-car garage. The studio, one- and two-bedroom assisted living units will feature full-size refrigerators and microwaves, walk-in closets and high-end finishes. The memory care wing will offer private and semi-private floorplans in a secure environment.
DURHAM, N.C. — An affiliate of Greenville, N.C.-based Brodyco has purchased Lakewood Shopping Center in Durham for an undisclosed price. A 29,000-square-foot Food Lion and Dollar General anchor the 82,000-square-foot shopping center, which was built in the 1960s. The buyer is considering remerchandising the center’s tenant mix going forward. The 58-year-old shopping center has a rich history. The property was once an amusement park with roller coaster, dance pavilion and bowling, and more recently, home to Winn Dixie, W.T. Grant and Woolworth’s Department Stores.
BEVERLY HILLS, CALIF. — Lang & Lang Properties has completed the sale of a retail building, located at 457-459 N. Rodeo Drive in Beverly Hills. A joint venture led by Michael Shabani of Crown Equity, Hakim Holdings, GWP Real Estate and Mazal Enterprises, acquired the property for $96 million, or $8,240 per square foot. Brioni, an Italian menswear retailer, and Alexander McQueen, a British fashion house, occupy the 11,625-square-foot retail building. With 50 feet of frontage on Rodeo Drive, the property comprises 7,150 square feet of ground-floor space, approximately 600 square feet on the mezzanine level and 3,875 square feet on the basement level. Carine Mamann, Kazuko Morgan and Stephen Algermissen of Cushman & Wakefield represented the buyer in the transaction.
SAN DIEGO — CIT Group’s Real Estate Finance division has arranged $50 million in financing for the acquisition of a six-property industrial portfolio in San Diego’s Otay Mesa submarket. BKM Capital Partners purchased the assets, which total 14 buildings and 703,215 square feet, from Stockbridge Capital Group for an undisclosed price. Cushman & Wakefield represented the seller in the transaction. The light industrial multi-tenant properties offer access to major transportation routes and the border crossing to Mexico. At the time of sale, the portfolio was 97 percent occupied by a diverse range of 44 tenants. The properties are: Border Point Business Park at 6754, 6744 and 6794 Calle De Linea San Diego International Center at 883 Siempre Viva Road Faraday Industrial Park at 2325, 2345, 2365, 2375 Michael Faraday Drive and 2350 Marconi Place Otay Business Center at 6987 and 6995 Calle De Linea Frontera Business Center at 2695 Customhouse Court Otay Crossing Business Park at 2340 Enrico Fermi Drive and 10025 Siempre Viva Road
SALT LAKE CITY — TruAmerica Multifamily, in a joint venture with an institutional partner, has purchased Country Lake, a multifamily property located in Salt Lake City’s Silicon Slopes submarket. An undisclosed seller sold the asset for $45.7 million. This acquisition increases TruAmerica’s holdings in the market to 1,595 units. Built in 1973, Country Lake features 253 apartments in a mix of one- and two-bedroom layouts. On-site community amenities include a pool, clubhouse with Wi-Fi access, central garden, outdoor barbecue area, dog park, tennis court and a playground. TruAmerica plans to implement a capital improvement program, including upgrading apartment interiors, renovating all community amenities such as the fitness center, and refreshing exteriors and landscaping. Steve Gebing, Cliff Davis, Danny Smith and Brock Zylstra of Institutional Property Advisors brokered the transaction.
FRESNO, CALIF. — CBRE has provided $32 million in Freddie Mac financing for the acquisition of The Windham Senior Living, a 200-unit independent living and assisted living community in Fresno’s affluent Woodward Park neighborhood. The borrower is The Reliant Group, which plans to make capital improvements and bring in Cadence Senior Living to operate the community under a third-party management agreement. The property is situated on a 10.2-acre parcel and consists of a main three-story building and six one-story buildings featuring 30 cottages each. The CBRE team involved in the financing includes Aron Will and Austin Sacco of CBRE National Senior Housing, as well as Andrew Behrens and Jesse Weber of CBRE Multifamily Institutional Group. The 10-year, fixed-rate, Green Advantage loan features 72 months of interest-only payments. This transaction represents one of the first Freddie Mac Green Advantage loans closed in the seniors housing space.