Property Type

Law Firm Signs 56,340 SF Office Lease in Uptown Dallas

by Taylor Williams March 21, 2019

DALLAS — Katten Muchin Rosenman LLP, a law firm with offices in the United States, London and Shanghai, has signed a 56,340-square-foot office lease at PwC Tower at Park District, a 500,000-square-foot tower in Uptown Dallas. Matt Craft of Lincoln Property Co. represented the law firm, which plans to move in during the fourth quarter, in the lease negotiations. Dennis Barnes, Shannon Brown and Clay Gilbert of CBRE represented the landlord, a joint venture between Trammell Crow Co. and MetLife Investment Management.

March 21, 2019

Industrial Leasing Activity Texas

Bradford Commercial Negotiates 21,500 SF Industrial Lease in Metro Dallas

by Taylor Williams March 21, 2019

GARLAND, TEXAS — Bradford Commercial Real Estate Services has negotiated a 21,500-square-foot industrial lease at 2306 Sherwin St. in Garland, a northeastern suburb of Dallas. Jason Finch and Brian Pafford of Bradford Commercial represented the tenant, DFD Movers Inc., in the lease negotiations. The landlord was self-represented.

March 21, 2019

Acquisitions Retail Texas

Marcus & Millichap Arranges Sale of 7,000 SF Retail Property in Palmview, Texas

by Taylor Williams March 21, 2019

PALMVIEW, TEXAS — Marcus & Millichap has arranged the sale of a 7,000-square-foot retail property net-leased to Advance Auto Parts in in the South Texas city of Palmview. Justin Miller and Davis Hansen of Marcus & Millichap marketed the property on behalf of the seller, a Houston-based partnership. Hank Wolfer also with Marcus & Millichap, represented the buyer, an out-of-state personal trust.

March 21, 2019

Development Industrial Michigan Midwest

Ford Plans Electric Vehicle Production Expansion at Flat Rock Assembly Plant in Southeast Michigan

by Kristin Harlow March 21, 2019

FLAT ROCK, MICH. — Ford has unveiled plans to begin producing battery electric vehicles at its Flat Rock assembly plant in Southeast Michigan. Ford plans to invest more than $850 million in the Flat Rock assembly plant through 2023, adding a second shift and approximately 900 new jobs. The plant investment also includes funding to build the next-generation Mustang and is the bulk of a $900 million investment in Ford’s operations in Southeast Michigan. Ford also said it will begin building an all-electric SUV starting in 2020 at its Cuautitlan, Mexico plant. Production of Ford’s first autonomous vehicles will begin in 2021 for deployment in commercial use.

March 21, 2019

Development Illinois Midwest Multifamily

Clayco Nears Completion of 149-Unit Apartment Project in Chicago

by Kristin Harlow March 21, 2019

CHICAGO — Clayco is nearing completion of a new 149-unit apartment project known as Upshore Chapter in Chicago. Pre-leasing will begin in May and the first residents are expected to move into the property in July. Amenities include a rooftop terrace, 24-hour fitness center, coffee bar, dog run, bike storage and a Luxer One package system. Monthly rental rates start at $1,460. Approximately 5,300 square feet of ground-floor retail space is available for lease.

March 21, 2019

Loans Midwest Nebraska Office

NorthMarq Arranges $5.2M Acquisition Financing for Office Property in Omaha

by Kristin Harlow March 21, 2019

OMAHA, NEB. — NorthMarq Capital has arranged a $5.2 million loan for the acquisition of a 61,120-square-foot office property in Omaha. A single tenant occupies the building, which is located at 10802 Farnam Drive. Bob Chalupa of NorthMarq arranged the 10-year loan, which features a 22-year amortization schedule. A life insurance company provided the loan.

March 21, 2019

Acquisitions Illinois Industrial Midwest

Cawley Chicago Brokers Sale of 70,000 SF Industrial Building in Chicago

by Kristin Harlow March 21, 2019

CHICAGO — Cawley Chicago has brokered the sale of a 70,000-square-foot industrial building in Chicago for an undisclosed price. The property is located at 3950 S. Karlov Ave. Frank Melchert and Stevan Arandjelovic of Cawley represented the seller, PanHellenic Scholarship Foundation. The buyer was not disclosed.

March 21, 2019

Leasing Activity Midwest Ohio Retail

Hand & Stone Signs Lease for Strongsville, Ohio Location

by Kristin Harlow March 21, 2019

STRONGSVILLE, OHIO — Hand & Stone Massage and Facial Spa has signed a 3,264-square-foot lease to open in Strongsville, a suburb of Cleveland. The company will occupy the space at Ledgewood Plaza. Sherrie Mendenhall of Coldwell Banker Commercial/Emmco Realty Group represented the tenant in the lease transaction.

March 21, 2019

Acquisitions North Carolina Office Southeast

CBRE Negotiates $40.5M Sale of Bank of America-Anchored Office Building in Uptown Charlotte

by John Nelson March 21, 2019

CHARLOTTE, N.C. — CBRE has negotiated the $40.5 million sale of Gateway Center, a 10-story, 310,745-square-foot office building in Uptown Charlotte. Hamilton EQ, an affiliate of New York-based Hamilton Equity Partners, purchased the asset, which is located at 901 W. Trade St. Gateway Center was 91 percent leased at the time of the sale, with Bank of America occupying 78 percent of the property. The seller was not disclosed, but Charlotte Business Journal reports that Chicago-based GEM Realty Capital sold the tower three years after purchasing it for $30.5 million. Patrick Gildea, Matt Smith and Grayson Hawkins of CBRE represented the seller in the transaction. Hamilton EQ entered the Charlotte market earlier this month with a portfolio acquisition in the suburbs.

March 21, 2019

Development Louisiana Southeast Student Housing

Annex Group to Develop 324-Bed Student Housing Community Near Louisiana Tech University

by John Nelson March 21, 2019

RUSTON, LA. — The Annex Group is set to break ground on The Annex of Ruston, a 324-bed student housing community located near the Louisiana Tech University campus in Ruston. The development will be situated at 509 W. Line Ave. and will offer one-, two-, three- and four-bedroom, fully furnished units. Shared amenities will include a swimming pool, exercise room, study lounges and secured parking. KeyBank Real Estate Capital provided development financing for the project, which was designed in collaboration with the City of Ruston, KTGY Architecture and HGA Engineering. The community is set for delivery in August 2020.

March 21, 2019

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