MIDDLEBOROUGH, MASS. — NKF has brokered the sale of 19 Leona Drive and 139 Campanelli Drive in Middleborough. The two distribution facilities were sold for an undisclosed price. 19 Leona Drive currently serves as the corporate headquarters for Sager Electronics, an electronic components distributor. 139 Campanelli Drive serves as a distribution center for Stop & Shop, a regional grocer with more than 400 stores across New England, New York and New Jersey. Both properties are located within the Campanelli Business Park, a 220-acre, 1.5 million-square-foot industrial campus. Edward Maher, Matthew Pullen, James Tribble and Samantha Hallowell of NKF represented the sellers, Artemis Real Estate Partners and Calare Properties. The buyer was NorthBridge Partners.
COLORADO SPRINGS, COLO. — Evergreen Devco has broken ground for a Starbucks Coffee property located at 2457 N. Marksheffel Road in Colorado Springs. Situated within Claremont Ranch Marketplace, the 2,200-square-foot, single-tenant building will feature a drive-thru lane. The coffee shop is expected to open in early 2019. Denver-based G3 Architecture designed the property, while Longmont-based Golden Triangle Construction is serving as contractor for the project.
MALVERN, PA — Marcus & Millichap has negotiated the $5.7 million sale of Montgomery County Intermediate Office – Unit 23, a 40,000-square-foot, net-leased office building in Malvern. Located at 333 Technology Drive, the office is used for educating and training public school employees. Eric Grad and Alex Mobin of Marcus & Millichap represented the seller, a developer and property owner, in the transaction. The seller purchased the building in 2006. The buyer was in a 1031 exchange.
SAN ANTONIO — SRS Real Estate Partners has negotiated the sale of two restaurant properties in San Antonio for $4.4 million. Both assets were built in 2012, feature drive-thru lanes and are triple net leased for 15 years to Bush’s Chicken, a Waco-based restaurant chain. Matthew Mousavi and Patrick Luther of SRS, along with Chris Mueller of San Antonio-based Mueller Ventures, represented the single seller of both assets. The buyers were undisclosed, individual private investors.
ST. LOUIS — Pinnacle Contracting Inc. has been selected by St. Louis-based developer Pier Property Group to complete the $9 million historic renovation and conversion of the Steelcote Manufacturing Co. paint factory in St. Louis. Pinnacle will transform the 42,000-square-foot property into 33 apartment units. The original five-story building will house 31 units. A second adjoining structure will house the leasing office and bike storage. A third building will be home to two additional units. Steelcote, a rubber enamel coating company, opened the building in 1922. The facility has been vacant since 2006. Architect Trivers Associates and structural engineer KPFF Consulting Engineers make up the project team. Completion is slated for spring 2019.
QUINCY, ILL. — Quincy Medical Group plans to open a new surgery and cancer treatment center at Quincy Mall in central western Illinois. The healthcare provider will occupy about half of the approximately 105,000 square feet on two floors of the former Bergner’s space. Quincy Medical Group will also have the opportunity for expansion on both first and second floors. Cullinan Properties Ltd. owns and manages the mall. The firm continues to identify new national retail tenants for the mall. Three new restaurants opened at the property within the last year.
WEST COUNTY, MO. — Midas Hospitality has opened a dual-branded Residence Inn and Courtyard by Marriott in West County near St Louis. Midas will manage both the 101-room Residence Inn and the 110-room Courtyard by Marriott. The four-story, 136,000-square-foot hotel is located at the intersection of Manchester Road and I-270. Developer Commercial Development Co. Inc. will own the property. MC Hotel Construction built the hotel. Amenities include a fitness center, indoor pool, meeting rooms and outdoor gathering space. The Courtyard Bistro features a variety of dining options.
LINCOLNSHIRE, ILL. — Heathrow Scientific has signed a build-to-suit agreement with a private developer for a 186,616-square-foot industrial property in Lincolnshire. The building will be situated on 10 acres and will include 25,000 square feet of office space, a clear height of 36 feet and 14 exterior docks. Heathrow Scientific, a manufacturer of lab equipment, is slated to take occupancy in April 2019. Brett Kroner, Keith Puritz and Eric Fischer of Cushman & Wakefield represented Heathrow in the transaction. The team is also marketing the remaining 68,589 square feet for lease.
LYNWOOD, ILL. — SkyView Advisors has brokered the sale of E-Z Self Storage of Lynwood for an undisclosed price. The facility features 650 non-climate-controlled units and 85,825 net rentable square feet. The property is situated on six acres at 19600 Stoney Island Ave. Ryan Clark and Parker Sweet of SkyView represented the seller, a private owner. A private equity-backed buyer purchased the asset.
ATLANTA — State Farm Arena, located at 1 State Farm Drive in downtown Atlanta, has opened its doors following a $192 million renovation program, the second largest renovation in NBA history. The Atlanta Hawks Basketball Club committed to an 18-year lease extension to remain in downtown Atlanta at the city-owned arena through 2046. The former Philips Arena features the NBA’s third-largest center-hung scoreboard and fan-friendly food pricing. Restaurant and entertainment options include Zac Brown’s Social Club, Topgolf Swing Suites, Killer Mike’s Swag Shop and a baseline bar and club known as Courtside Club. The Atlanta Hawks celebrated the arena with its home opener against the Dallas Mavericks on Wednesday, Oct. 24. With a sold-out crowd, the Hawks beat the Mavericks 111 to 104. The arena hosts approximately 200 events and nearly 2 million guests annually.