KILGORE, TEXAS — HFF has brokered the sale of a 550,000-square-foot distribution center leased to Orgill, the world’s largest independent hardware distributor, in the eastern Texas city of Kilgore. Built in 2007 on 65.2 acres, the property is currently being expanded by almost 329,000 square feet with completion expected in mid-2019. Adam Herrin and Stephen Bailey of HFF represented the seller, Elysian Partners LLC, in the transaction.
DALLAS — CBRE Hana, the newly formed coworking subsidiary of the Los Angeles-based full-service real estate firm, will open its first space within PwC Tower at Park District, a 500,000-square-foot office building in Dallas. The space will offer private office suites, conferencing facilities and event space, and the location offers walkability to the Uptown and Arts District areas, as well as Klyde Warren Park. The space is expected to open in mid-2019.
CARROLLTON, TEXAS — Lee & Associates has negotiated a 55,232-square-foot industrial lease at 2080 McDaniel Drive in the northern Dallas metro of Carrollton. Nathan Denton of Lee & Associates represented the tenant, Buzzballz, a provider of alcoholic beverages, in the lease negotiations. Gil Stroube and Michael Peinado of Lincoln Property Co. represented the landlord, Prologis.
DALLAS — Regional lender and intermediary BMC Capital has arranged a $6.1 million acquisition loan for an undisclosed retail property in the Dallas-Fort Worth (DFW) area. The non-recourse loan features a 4.7 percent fixed interest rate, a 75 percent loan-to-value ratio, a 10-year term and a 30-year amortization schedule. The borrower was not disclosed.
WOODINVILLE, WASH. — Locally based Park Row LLC has purchased The Park at Woodinville, a Class A industrial park located at 14103 NE 200th St. in Woodinville, a suburb approximately 20 miles northwest of Seattle. Newport Beach, Calif.-based KBS sold the property for $47.2 million, or $197 per square foot, in an off-market transaction. Todd Gauthier and Jason Bloom of Kidder Mathews represented the buyer in the deal. The five-building, 239,607-square-foot industrial park features a café/deli, loading docks and outdoor patios.
FREMONT, CALIF. — Talonvest Capital has arranged a $22.4 million bridge loan for CIP Real Estate for the purchase of Fremont Business Center, a flex business park located in Fremont. The four-year non-recourse bank loan will finance up to 68 percent of total project costs, including future funding for capital improvements and leasing costs. Fremont Business Center consists of five research-and-development buildings totaling 148,926 square feet of space. The property features suites ranging in size from 5,736 square feet to 28,391 square feet. Erich Pryor, Tom Sherlock and Eric Snyder of Talonvest Capital secured the financing.
ORANGE, CALIF. — Alere Property Group has acquired North Orange Industrial Park, an industrial business park located in Orange from an undisclosed seller for $21.9 million in an off-market transaction. Mike Cargile and Loren Cargile of Voit Real Estate Services represented the buyer in the deal. The three-building asset features 138,970 square feet of industrial space in a variety of ground-level unit sizes and multi-tenant dock-high spaces. At the time of sale, the property was 100 percent occupied by a tenant mix of light industrial and distribution users.
DENVER — NAI Shames Makovsky has arranged the sale of a retail property, located at 2903 Larimer St. in Denver. Michio Iwahashi sold the asset to 2093 Larimer LLC for $3 million. The property features a 12,528-square-foot land parcel with two existing structures. Evan Makovsky and Todd Snyder of NAI Shames Makovsky represented the seller in the deal.
GRANDVIEW, MO. — Rainier Realty Investments LP, along with institutional investor CIL2 REIT LLC, has acquired Truman’s Marketplace, a 308,200-square-foot retail center in Grandview near Kansas City. The property is 98 percent leased by tenants such as Ross Dress for Less, TJ Maxx, Burlington, Petco and Price Chopper. Metropolitan Capital Advisors arranged acquisition financing. CIL2 is managed by Continuum Investments LLC. This is the sixth retail acquisition for Rainier and CIL2 in the past 20 months.
CHICAGO HEIGHTS, ILL. — Colliers International has arranged the sale of a 223,517-square-foot industrial facility located at 300 E. Joe Orr Road in Chicago Heights. The sales price was not disclosed, but the asking price was $3.1 million. The one-story facility features 18 cranes. The building also features an interior rail spur for Union Pacific, 10 drive-in doors, five drive-through bays and more than 12,000 square feet of office space. John Basile of Colliers represented the seller, Esmark Steel Group, a processor and distributor of flat-rolled steel. Ed Wabick of Paine Wetzel represented the buyer, private investor 300 E. Joe Orr Road LLC.
