Property Type

Medistar to Develop 48-Story Mixed-Use Tower at Texas Medical Center in Houston

by Taylor Williams January 30, 2019

HOUSTON — Houston-based Medistar Corp. will develop Innovation Tower, a 48-story mixed-use project that will be located within Texas Medical Center in Houston. Phase I of the project will deliver 476,500 square feet of medical and life science office space, a 1,700-space parking garage and retail and restaurant space. Phase II will include either 410 luxury residential units or additional medical and life science office space, depending on market reactions. Construction is expected to begin toward the end of the third quarter. Transwestern will handle leasing of the project.

January 30, 2019

Development Industrial Texas

Stream Realty Partners to Break Ground on 66-Acre Industrial Project in Fort Worth

by Taylor Williams January 30, 2019

FORT WORTH, TEXAS — Stream Realty Partners will break ground in February on Northwest Commerce Park, a 66-acre industrial project in north Fort Worth. The development will ultimately span three buildings totaling 1.1 million square feet and offer convenient access to Interstate 35 and State Highway 114, as well as Fort Worth Alliance Airport and nearby hubs for UPS and FedEx. Completion of the project, which was capitalized through a joint venture with an undisclosed global institutional investor, is slated for December.

January 30, 2019

Development Retail Texas

Cinemark to Open 14-Screen Theater at Cottonwood Creek Market in Waco

by Taylor Williams January 30, 2019

WACO, TEXAS — Cinemark Holdings Inc. (NYSE: CNK) will open a 14-screen theater within Cottonwood Creek Market, a mixed-use development in Waco by Houston-based NewQuest Properties. The venue, which is expected to open in spring 2020, will feature electric-powered, oversized recliners, wall-to-wall screens with enhanced sound systems and expanded food and beverage options. Cottonwood Creek will ultimately offer a total of 285,000 square feet of retail, restaurant and entertainment space, as well as office space and multifamily units.

January 30, 2019

Acquisitions Industrial Texas

Marcus & Millichap Arranges Sale of 42,768 SF Industrial Property in Metro Dallas

by Taylor Williams January 30, 2019

GARLAND, TEXAS — Marcus & Millichap has arranged the sale of a three-building, 42,768-square-foot industrial property in Garland, a northeastern suburb of Dallas. The buildings were constructed in 1968 on 2.8 acres. Adam Abushagur and Sam Martin of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors that requested anonymity.

January 30, 2019

Leasing Activity Office Texas

NAI Partners Negotiates 12,084 SF Office Lease in Houston

by Taylor Williams January 30, 2019

HOUSTON — NAI Partners has negotiated a 12,084-square-foot office lease at 11550 Fuqua St. in Houston for local accounting firm Ham, Langston & Brezina LLP. According to LoopNet Inc., the Class B property was built in 1983. Griff Bandy of NAI Partners represented the tenant in the lease negotiations. The name and representative of the landlord were not disclosed.

January 30, 2019

Development Illinois Industrial Midwest

LPC Acquires Infill Site in Chicago, Plans 137,000 SF Industrial Building

by Kristin Harlow January 30, 2019

CHICAGO — Logistics Property Co. LLC has acquired 3711 S. Ashland Ave., a 6.4-acre infill site in Chicago. The company plans to build a 137,000-square-foot industrial building on the site, which is located one mile from I-55 and two miles from I-94. Construction is expected to begin this summer with completion slated for the first quarter of 2020. Tim McCahill and Terry Grapenthin of Lee & Associates are marketing the property for lease.

January 30, 2019

Leasing Activity Midwest Office Wisconsin

Heartland Advisors to Relocate to Milwaukee’s BMO Tower

by Kristin Harlow January 30, 2019

MILWAUKEE — Heartland Advisors has unveiled plans to relocate to BMO Tower in the heart of Milwaukee’s central business district. The independent investment firm, which manages mutual funds, will occupy 10,873 square feet on the 12th floor. Alyssa Geisler of CBRE represented Heartland in the lease transaction. Mike Wanezek of Colliers International represented the owner, Irgens. Located at 790 N. Water St., BMO Tower is a 25-story office building currently under construction. The property is expected to open in December. Anchor tenants include BMO Harris Bank and Michael Best & Friedrich. Approximately 160,000 square feet of office space and 12,000 square feet of retail space remain available for lease.

January 30, 2019

Development Illinois Midwest Restaurant Retail

Velvet Taco to Open Second Chicago Location at Lincoln Common Development

by Kristin Harlow January 30, 2019

CHICAGO — Velvet Taco, a Texas-based fast casual restaurant, will open its second Chicago location at Lincoln Common, a mixed-use project located in the heart of Chicago’s Lincoln Park. The restaurant will occupy 2,572 square feet beginning in mid- to late-2019. Lincoln Common, currently under development by McCaffery Brokerage and Hines, will feature residential, office, dining, fitness and retail space. Previously announced tenants include Kohler Waters Spa and Equinox Fitness.

January 30, 2019

Illinois Industrial Leasing Activity Midwest

Schnidt Cartage Renews 68,208 SF Industrial Lease in Hanover Park, Illinois

by Kristin Harlow January 30, 2019

HANOVER PARK, ILL. — Schnidt Cartage, a warehouse and distribution company, has renewed its 68,208-square-foot industrial lease in Hanover Park, a western suburb of Chicago. The property is located at 1625 Hunter Road. Mike Plumb and Andrew Block of Lee & Associates represented the owner, Prologis. Jeff Janda of Lee & Associates represented the tenant.

January 30, 2019

Leasing Activity Midwest Office Wisconsin

Crescendo Collective Signs 8,700 SF Office Lease in Milwaukee’s Brewery District

by Kristin Harlow January 30, 2019

MILWAUKEE — Crescendo Collective has signed an 8,700-square-foot lease within The Factory Office Suites at The 42, an office development in Milwaukee’s Brewery District. The digital marketing firm will occupy the space later this year. Max Rasansky and Alyssa Geisler of CBRE represented the landlord, Scott Lurie. The Boerke Company represented the tenant. Office tenants at The 42 have access to a fitness center, coffee bar, rooftop deck and community lounge. Milwaukee Brewing Co. operates a brewery at the development. Approximately 35,000 square feet of space remains available for lease within the office portion.

January 30, 2019

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