BURLINGTON, MASS. — R.W. Holmes Commercial Real Estate has negotiated a 14,011-square-foot lease for flex space at 141 Middlesex Turnpike in Burlington, about 20 miles northwest of Boston. The tenant was Zimmer Northeast, a subsidiary of Zimmer Biomet (NYSE: ZBH), which manufactures and distributes orthopedics products. Mike Ogasapian and Garry Holmes of R.W. Holmes represented the tenant in the lease negotiations. Jordan Yarboro and Madison Chambers of JLL represented the landlord, The Berman Cos.
NEW YORK CITY — Goldfish Swim School, which operates more than 80 swimming schools for children around the country, has signed a 10-year, 9,660-square-foot lease at Glen Oaks Shopping Center in Queens. The center, which is owned by local firm The Feil Organization, spans 187,650 square feet. Burlington Coat Factory and Key Food anchor the property, and other tenants include Walgreens and Subway. Goldfish Swim School includes party facilities, a snack bar and heated pools.
HOUSTON — Clay Development & Construction Inc. has broken ground on Kennedy Greens Distribution Center I, a 524,528-square-foot speculative industrial facility that will be located near George Bush Intercontinental Airport on Houston’s north side. The 29.2-acre site on which the facility will be situated is housed within Clay’s 145-acre Kennedy Greens South Business Park and allows for additional expansion of up to 500,000 square feet. The building will be designed as a cross-dock facility with 36-foot clear heights, 60-foot speed bays, 107 dock-high doors, 130-foot truck courts, 300 employee parking spaces and the option of 130 trailer parking spaces. Completion is slated for the fourth quarter. Clay will work with CBRE on marketing and leasing of the property. Trustmark Bank provided construction financing for the project.
THE WOODLANDS, TEXAS — Fort Worth-based Trademark Property Co. has completed the renovation of MARKET STREET — The Woodlands, a 560,000-square-foot shopping and dining destination located about 30 miles north of Houston. The eight-month project focused on the enhancement of common area spaces, including restaurant patios, pedestrian pathways and public restrooms. Landscaping upgrades were also implemented at the open-air property, which originally opened in 2004 and now includes hotel and office uses.
SAN ANTONIO — A partnership between Austin-based CSW Development and San Antonio-based USAA Real Estate will hold a groundbreaking ceremony for La Cantera Heights, a new retail center in northwest San Antonio, on Wednesday, May 1. Construction of the first phase will begin immediately after the event. The current tenant roster, which will include restaurant, fitness and boutique retailers, will be announced at the ceremony. Alamo Architects is designing the project; Metropolitan Construction is serving as the general contractor, and JLL is handling leasing.
ARLINGTON, TEXAS — Marcus & Millichap has brokered the sale of Avenue J, a 29,770-square-foot office building in Arlington. The multi-tenant property was built in the 1980s and offers proximity to Interstate 30. Cody Payne and Wayne Bares of Marcus & Millichap marketed the property on behalf of the seller and procured the buyer, both of which were private investors. Additional terms of sale were not disclosed.
HOUSTON — NAI Partners has negotiated a 12,000-square-foot industrial lease at 8020 Leghorn St. in Houston. According to LoopNet Inc., the property was built in 1998, offers 26,000 square feet of rentable space and features 18- to 20-foot clear heights. Andy Parrish and Lesley Rice of NAI Partners represented the landlord in the lease negotiations. The tenant was Texas-based Cooper Flooring.
SAN DIEGO — Innovative Industrial Properties (IIP) has acquired a five-property industrial portfolio in Southern California for $27.1 million. The assets total 102,000 square feet of industrial space. This acquisition marks IIP’s second investment in California, following the company’s acquisition in Sacramento earlier this year. The company claims to be the only real estate company on the New York Stock Exchange focused on the regulated U.S. cannabis industry. Concurrent with the closing of the purchase, IIP entered into a long-term, triple-net lease at each property with a licensed cannabis operator. The tenant intends to operate the properties as licensed cannabis cultivation, manufacturing, processing and distribution facilities in accordance with California regulations.
PHOENIX — Conor Commercial Real Estate and Globe Corp. have assembled 18.8 acres within the Sky Harbor Airport submarket of Phoenix for the development of Airport 40, a 320,700-square-foot speculative industrial development. Construction is slated to begin in June, the two-building project will include Building 1, a 211,900-square-foot rear-load facility featuring 40 dock-high doors and six drive-in doors; and Building 2, a 108,800-square-foot property with 28 dock doors and four drive-in doors. Both buildings will feature 32-foot clear heights, built-to-suit office space, ample vehicle parking and 75 oversized truck trailer stalls. Mike Haenel, Andy Markham and Phil Haenel of Cushman & Wakefield negotiated the purchase of the parcels in three separate transactions for a combined total of $8.1 million.
TUCSON, ARIZ. — The LaClaire Group of Marcus & Millichap has negotiated the sale of National RV Central, a 125,015-square-foot recreational vehicle storage facility in Tucson. A Colorado-based national private self-storage operator acquired the property from a local partnership for an undisclosed price. Situated next to Interstate 10, National RV Central features 112,115 rentable square feet of indoor, climate-controlled RV storage; 5,100 rentable square feet of traditional drive-up self-storage space; and a 7,800-square-foot service bay rented to a third party. Built in 2006, the property features fully enclosed RV and boat storage. Thomas Parson and Adam Schlosser of Marcus & Millichap represented the seller in the deal.