BEDFORD, TEXAS — Dallas-based Henry S. Miller Cos. has arranged the sale of a 15,000-square-foot medical office building in Bedford, located northeast of Fort Worth near DFW International Airport. The property was built in 2001 and was triple-net-leased to Texas Health Family Care at the time of sale. Darrell Hurmis and Lily Chang of Henry S. Miller represented the seller and buyer, respectively, in the transaction. The sale included a 19,800-square-foot adjacent tract that will be used to provide additional parking.
GRAND PRAIRIE, TEXAS — Bradford Commercial Real Estate Services has brokered the sale of Bardin Professional Center, a 9,358-square-foot office building in Grand Prairie, located roughly midway between Dallas and Fort Worth. The two-story property, which was built in 2003, is situated just off Interstate 20 and was 82 percent leased at the time of sale. Leigh Richter of Bradford Commercial represented the seller, IM Bardin LLC, in the deal. The buyer, Nabua Property Holdings LLC, plans to renovate the building.
RICHARDSON, TEXAS — CBRE has negotiated an 8,828-square-foot office lease at 3001 E. George Bush Turnpike in Richardson, a northeastern suburb of Dallas. Tommy Nelson and Ben Davis of CBRE represented the landlord, Buchanan Street Partners, in the lease negotiations. Jeff Smith of Transwestern represented the tenant, Cardiovascular Provider Resources LLC.
CHICAGO — Home Chef has unveiled plans to move its headquarters into the redeveloped Old Post Office in Chicago this year. Home Chef, which merged with The Kroger Co. in 2018, will use the new space to accelerate growth, develop new products and expand its offerings. The company, which produces meal kits, will occupy 74,000 square feet. Home Chef currently has more than 750 employees in the Chicago area at its corporate offices in the Wrigley Building, satellite offices and distribution center in Bedford Park. The renovation of the Old Post Office Building is an $800 million project currently underway by owner 601W Cos. to transform the property into office space. Other tenants who have recently signed leases include Walgreens, Ferrara Candy Co. and AbelsonTaylor.
FORT WAYNE, IND. — Vermillion Development, a Chicago-based real estate firm, has opened Silver Birch Fort Wayne, an affordable seniors housing community in Fort Wayne. Design and engineering firm HED partnered on the project. The 97,000-square-foot community sits on 4.2 acres and features 119 units. The assisted living facility offers studio and one-bedroom units for older adults in need of supportive housing. Silver Birch Fort Wayne is the eighth facility opened by Silver Birch Living, which is the operational arm of Vermillion. The property is adjacent to a golf course, which was recently acquired by a nearby university to be repurposed as a fitness center.
DETROIT — Arbor Realty Trust Inc. has provided a $4 million Freddie Mac small-balance loan for the refinancing of Van Dyke Apartments located at 1780 Van Dyke St. in Detroit. The 40-unit multifamily property was built in 1928 and renovated in 2018. Michael Jehle of Arbor originated the 20-year loan, which features a 30-year amortization schedule.
GRAND RAPIDS AND GRANDVILLE, MICH. — The Donut Conspiracy is opening two new locations in Grand Rapids and Grandville in western Michigan. The Grand Rapids store will span 1,500 square feet and include an industrial kitchen for production. The Grandville store, formerly home to Orange Leaf Frozen Yogurt, spans 1,800 square feet. The Donut Conspiracy was founded in 2017. Each location features vintage décor and themes around historic conspiracy theories.
LINCOLNSHIRE, ILL. — The Boulder Group has brokered the sale of a single-tenant property net leased to Culver’s in Lincolnshire for $1.7 million. The building is situated on three acres at 401 Milwaukee Ave. Randy Blankstein and Jimmy Goodman of Boulder brokered the transaction. A Chicago-based real estate company sold the asset to a private investor. Culver’s is a fast-casual restaurant chain that operates primarily in the Midwest and is known for its frozen custards and burgers.
SAN FERNANDO AND SAN DIEGO, CALIF. — Rexford Industrial Realty has acquired two industrial properties, comprising six buildings, for a total of $139 million. The acquisitions were funded using cash on hand and draws on the company’s line of credit. The company purchased San Fernando Business Center within the LA-San Fernando Valley submarket for $118.1 million, or $200 per square foot. At the time of acquisition, the industrial business park was 88 percent occupied. The park consists of three single-tenant industrial buildings and two three-tenant industrial buildings, totaling 591,660 square feet on 28.6 acres of land. The property features 24-foot minimum clear heights, extensive dock-high loading and proximity to four freeways. Additionally, Rexford acquired 10015 Waples Court within the Central San Diego submarket for $21.3 million, or $200 per square foot. Situated on 5.4 acres, the vacant industrial building features 106,412 square feet with 31-foot clear heights and is divisible for two tenants.
PHOENIX — PCCP has formed a joint venture with Hopewell Development to develop a three-building speculative industrial project in Phoenix’s Southwest Valley submarket. The buildings will be located on two fully entitled sites and completion is slated for late 2019. Two buildings — offering 78,150 square feet and 84,708 square feet — will be situated on a 10.6-acre parcel along 67th Avenue. The third building will be located on a 4.8-acre site along 43rd Avenue. Each building will feature 28-foot to 32-foot clear heights, between 17 and 25 dock-high doors in addition to grade-level doors, and one speculative office build-out space. Additionally, both sites will feature direct frontage to an intersection, multiple access points and easy freeway access to both the Interstate 10 and the future Loop 202 extension, which is scheduled for completion in late 2019. Bo Mills and Mark Detmer of JLL sourced the joint venture equity for the partnership.