DALLAS — Transwestern has brokered the sale of Plaza Del Lago, a 320-unit multifamily community in Dallas. Built in 1982, the property is located on the city’s northwestern side near Dallas Love Field Airport. Amenities include two pools, outdoor grilling areas, on-site laundry facilities, a dog park and a playground. Taylor Snoddy, Philip Wiegand and James Roberts of Transwestern represented the seller, DIJ Plaza Del Lago LLC, in the transaction. The buyer and sales price were not disclosed.
HOUSTON — Henry S. Miller Brokerage Co. (HSM) has negotiated the sale of two warehouses totaling approximately 29,000 square feet in Houston. The two buildings are located at 10440 Windfern Road on the city’s northwest side. Sam Chang of HSM represented the buyer, GAC Windfern LLC, in the transaction. Adam Strauss of New Regional Planning represented the sellers, the estates of two private investors.
CHICAGO — HFF has arranged the sale of Optima Chicago Center in the city’s Streeterville neighborhood. The sales price was not disclosed. The 325-unit apartment tower is located at 200 E. Illinois St. Constructed in 2013 and designed by David Hovey, the 42-story property features a mix of one-, two- and three-bedroom units as well as two penthouses. The property includes a 233-space parking garage and 20,644 square feet of commercial space. Amenities include a rooftop, outdoor lounge, fitness center, yoga studio, pool, recreation area and concierge services. Sean Fogarty and Marty O’Connell of HFF marketed the property on behalf of the seller, a partnership comprising Optima Inc., DeBartolo Development LLC and OPTrust. The team also procured the undisclosed buyer. Danny Kaufman of HFF worked on behalf of the new owner to secure acquisition financing through Pacific Life Insurance Co.
GRAND BLANC, MICH. — KeyBank Real Estate Capital has originated a $14.7 million Fannie Mae loan for the refinancing of The Grand in Grand Blanc near Flint, Mich. Developed between 2014 and 2017, the multifamily property features 102 garden-style units. Todd Linehan of KeyBank originated the 10-year loan, which includes a 30-year amortization schedule.
CHICAGO — Marcus & Millichap has brokered the sale of a 53,931-square-foot mixed-use building and an adjacent development site in Chicago’s River West neighborhood for $11.3 million. The buyer, Tandem Development, plans to renovate the existing building and develop a 226-unit apartment tower on an adjacent parking lot. The 23-story tower will feature a parking garage and 2,300 square feet of first-floor retail space. Stephen Lieberman and Kyle Stengle of Marcus & Millichap represented the private seller and procured the buyer.
WAUKEGAN, ILL. — HSA Commercial Real Estate has sold a 218,500-square-foot industrial building in Waukegan for an undisclosed price. The property is located within the Delany Commerce Center, a 22.7-acre development. HSA developed the building in 2013 in partnership with Washington Capital Management Inc. The property is fully leased to Eagle Foods, a manufacturer and distributor of household food and snack products, and Trifinity Partners, a third-party logistics firm that serves major retailers. Mike Caprile, Ryan Bain and Zach Graham of CBRE represented the sellers in the transaction. A private investor purchased the asset.
APPLETON, WIS. — HREC Investment Advisors has arranged the sale of the 105-room Country Inn & Suites in Appleton for an undisclosed price. The hotel is located along U.S. Highway 41, which encircles the city and connects Appleton with Green Bay to the north and Milwaukee to the south. Scott Kaniewski of HREC represented the seller, a Midwest-based investment company. Duluth, Minnesota-based IGO Legacy Hotel Group LLC purchased the asset.
VIRGINIA BEACH, VA. — Vint Hill, Va.-based Assured Communications Advisors International (ACA International) will invest $52 million to build a 130,000-square-foot data center in Virginia Beach. The telecommunications consulting firm will build the new facility on a 10.2-acre site within Corporate Landing Business Park, a 325-acre, publicly developed business park owned by the Virginia Beach Economic Development Authority. The new facility will house ACA International’s new corporate headquarters and a Tier III data center providing network-neutral co-location services. In addition, the building will serve as a cable landing station for future subsea telecommunications cables. The building will create 30 jobs upon completion in the fourth quarter of 2019. ACA International provides strategy, project planning, development and oversight of broadband, satellite, subsea cables, wireless/mobility and smart city planning.
ATLANTA — Akron, Ohio-based The Goodyear Tire & Rubber Co. and Nashville-based Bridgestone Americas Inc. have formed a tire distribution joint venture and will locate the newly created company’s headquarters in Atlanta. TireHub LLC will provide U.S tire dealers and retailers with a range of passenger and light truck tires, with an emphasis on distributing larger rim diameter premium tires. TireHub will lease 30,000 square feet at One Ravinia in Atlanta’s Central Perimeter submarket for its new headquarters, according to the Atlanta Business Chronicle. The 50-50 joint venture will initially operate more than 80 distribution centers and warehouse locations throughout the country. TireHub will combine and complement Goodyear’s company-owned wholesale distribution network with the Bridgestone-owned Tire Wholesale Warehouse (TWW). The new company will also complement both Goodyear and Bridgestone’s existing networks of third-party distributors and provide distribution, warehousing, sales and delivery solutions following the closing of the transaction, which is expected in mid-year. At launch, TireHub will have the scale to reach the vast majority of retail locations across the country daily.
SARASOTA, FLA. — Berkeley Point Capital (BPC) has provided a $19.7 million Freddie Mac loan for the refinancing of Beneva Place, a 192-unit apartment community in Sarasota. Brian Kochan of BPC originated the fixed-rate loan through Freddie Mac’s Green Up program on behalf of the undisclosed borrower. In order to qualify for the program, the borrower will upgrade a number of water fixtures throughout the property, promoting lower consumption and energy bills for tenants. Beneva Place features a clubhouse, business center, 24-hour fitness center, laundry center, pool, fire pit, gazebo and picnic and barbecue areas.
