Property Type

Unique Properties Brokers $4.1M Sale of Industrial Property in Denver

by Amy Works June 12, 2019

DENVER — Unique Properties / TCN Worldwide has negotiated the sale of an industrial asset, located at 6400 Washington St. in Denver. Gibraltar Property Management acquired the property from North Denver Group Co-Tenancy for $4.1 million. Situated on 4.7 acres, the asset consists of a 14,540-square-foot industrial service and rental center. The property features a large storage yard, oversized drive-in doors and a showroom area. At the time of sale, the property was fully leased to United Rentals under an absolute triple-net lease basis. Brett MacDougall and Michael DeSantis of Unique Properties / TCN Worldwide represented the buyer and seller in the transaction.

June 12, 2019

Development Illinois Industrial Midwest Top Stories

Elion Unveils $2B Expansion Project for Logistics Park in Wilmington, Illinois

by Kristin Harlow June 12, 2019

WILMINGTON, ILL. — Elion Partners has renamed RidgePort Logistics Center to Elion Logistics Park 55 (ELP 55) and planned a $2 billion development project at the site in Wilmington, approximately 40 miles southwest of Chicago. Following the expansion, ELP 55 will become the largest rail-served industrial park in the Midwest, according to the real estate investment firm. Elion began acquiring land for the park in 2016. To date, 6.3 million square feet of multi-tenant and build-to-suit space exists. Some of the tenants include Post, Lineage and Batory Foods. The master plan comprises up to 2,500 acres, which includes an existing, full-service TA Petro Travel Plaza and up to 140 acres for planned commercial development. Current projects underway include an on-site first responders’ station, interconnectivity via planned pedestrian walking paths and an on-site helipad. ELP 55 features two miles of frontage along the BNSF’s Transcontinental Mainline with up to 12 million square feet of potential rail services, and three miles of I-55 frontage with a complete interchange. The park is located in a regional distribution hub that reaches 27 percent of the U.S. population within a one-day drive, according to Elion. “The goal is to develop a mixed-use logistics park that …

June 12, 2019

Market Reports New Jersey Northeast Northeast Market Reports Retail

Landlords Target Dining, Personal Services and Fitness to Woo Customers

by Taylor Williams June 12, 2019

Shifting consumer preferences for convenience and variety have become key drivers for brick-and-mortar retail. And when it comes to creating co-tenancies that drive traffic to retail properties, dining, personal services and fitness are among today’s most desirable categories. Fortunately, they also are among the sector’s most active space users in today’s market. Strong restaurant demand among brands new to, and expanding in, the regional market continues unabated, and year-to-date activity reflects a new level of diversity. From national brands to regional chains like café and bakery Dulce De Leche to expanding local mom-and-pop businesses, these tenants are serving as “internet-proof” placemakers for the retail properties they occupy. And many tenants are looking to step up the dining experience with outdoor seating, revolving menus and entertainment, among other offerings that spark return visits. The same holds true for personal services, where boutique concepts have become sought-after shopping center additions. Again, diversity is a common theme, with activity involving traditional salons as well as specialized concepts like Sport Clips, which caters to men and boys, and local businesses that offer makeup services, waxing and other niche beauty treatments. We also are watching with interest the emergence of brands offering coworking space for …

June 12, 2019

Leasing Activity Office Texas

Tenet Healthcare Signs 372,000 SF Office Lease in Metro Dallas

by Taylor Williams June 11, 2019

FARMERS BRANCH, TEXAS — Tenet Healthcare, a publicly traded provider, has signed a 372,000-square-foot office lease to occupy the entirety of International Plaza I, a 13-story tower located in the northern Dallas suburb of Farmers Branch. Moody Younger and Kathy Permenter of Younger Partners represented Tenet Healthcare in the lease negotiations. Chris Taylor, Trey Smith, Matt Schendle and Lauren Napper of Cushman & Wakefield represented the landlord, Taconic Capital Advisors, which acquired the asset last summer.

June 11, 2019

Acquisitions Multifamily Texas

Limited Liability Company Acquires 180-Unit Apartment Community in DeSoto, Texas

by Taylor Williams June 11, 2019

DESOTO, TEXAS — CWA202 LLC has acquired Creekwood Apartments, a 180-unit community in DeSoto, located south of Dallas. The property offers amenities such as a pool, playground, business center, onsite laundry facilities and an internet café with a coffee bar. Dougherty Mortgage arranged an undisclosed amount of acquisition financing for the deal through a partnership with Old Capital Lending. The loan featured a 12-year term and a 30-year amortization schedule.

June 11, 2019

Acquisitions Multifamily Texas

RM Adviser Acquires Two Apartment Communities in El Paso

by Taylor Williams June 11, 2019

EL PASO, TEXAS — RM Adviser, a subsidiary of RealtyMogul, has acquired two apartment communities in El Paso. The property names and unit counts were not disclosed, but the communities both feature pools, outdoor grilling areas and resident clubhouses. RM Adviser will implement value-add programs at both properties, with a focus on reducing water consumption, upgrading unit interiors and enhancing amenity spaces, including the addition of a playground and outdoor lounge with gazebos.

June 11, 2019

Golden-Palms-Rehabilitation-Retirement-Harlingen-Texas

Acquisitions Multifamily Texas

Ensign Group Buys 92-Unit Seniors Housing Property in Rio Grande Valley

by Taylor Williams June 11, 2019

HARLINGEN, TEXAS — Ensign Group, a publicly traded seniors housing owner-operator, has purchased Golden Palms Rehabilitation and Retirement, a community located near the Mexico border in Harlingen. The property features 92 independent living units, as well as a 60-bed skilled nursing division and a 38-bed assisted living center. Keystone Care LLC, an affiliate of Ensign, will assume operations of the facility.

June 11, 2019

Leasing Activity Office Texas

Energy Firm Expands Office Headquarters in Uptown Dallas by 16,701 SF

by Taylor Williams June 11, 2019

DALLAS — Lucid Energy Group, which operates in the midstream space of the natural gas industry, has signed a 16,701-square-foot office lease expansion at Citymark at Katy Trail in Uptown Dallas. The lease effectively doubles the size of Lucid’s current headquarters space to 34,585 square feet. The firm now occupies two full floors at the building, which is located at 3100 McKinnon St. Richmond Collinsworth and Melanie Hughes of Bradford Commercial Real Estate Services represented the landlord in the lease negotiations. Andy Leather of JLL represented the tenant.

June 11, 2019

Development Industrial South Carolina Southeast

Equus to Break Ground on 373,100 SF Industrial Building Near Inland Port Dillon

by Alex Tostado June 11, 2019

DILLON, S.C. — Equus Capital Partners Ltd. will break ground on a 373,100-square-foot speculative industrial building in Dillon in the third quarter of 2019. The site is situated off I-95 and one mile from Inland Port Dillon. The property will offer warehouse and logistics space, 32-foot clear heights, a 180-foot truck court, 189 parking spots, 58 loading spaces and 64 trailer parking spaces. The Philadelphia-based developer expects to deliver Phase I in 2020. Bob Barrineau and Brendan Redeyoff of CBRE as well as Drew Chaplin of Palmetto Commercial Real Estate are leading leasing efforts at the property on behalf of Equus. Phase II is proposed on a nearby site, which allows for the construction of multiple build-to-suit buildings with up to 1.5 million square feet of additional development capacity. A timeline for Phase II was not disclosed.

June 11, 2019

Acquisitions Georgia Multifamily North Carolina Southeast Tennessee

Carroll Organization Acquires Three-Property Apartment Portfolio in Southeast

by Alex Tostado June 11, 2019

ATLANTA — Carroll Organization has acquired a three-property multifamily portfolio located throughout the Southeast. The three properties include the 268-unit Hawthorne at Mooresville in Mooresville, N.C.; the 312-9unit Hawthorne at Wildwood in Marietta, Ga.; and the 323-unit Hawthorne South Oaks in downtown Nashville, Tenn. According to Atlanta-based Carroll Organization, all three properties will be rebranded under the ARIUM name. Additional terms of the sale were not disclosed.

June 11, 2019

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