ANNA, TEXAS — Marcus & Millichap has arranged the sale of Affordable Self-Storage, a 51,555-square-foot facility in Anna, about 45 miles north of downtown Dallas. Built in stages between 2004 and 2015, the property consists of 76 climate-controlled units, 312 non-climate-controlled units, 36 boat/RV units and 63 uncovered parking spaces. Brandon Karr and Danny Cunningham of Marcus & Millichap represented the seller, a private investor. The buyer was a local self-storage owner-operator. Both parties requested anonymity.
SANGER, TEXAS — Bob Moore Construction has started work on a 142,000-square-foot industrial facility for Ohio-based freight company R+L Carriers in Sanger, located near the Texas-Oklahoma border. The property will serve as R+L Carriers’ new truck terminal as the company streamlines its Texas operations. The project is expected to create 200 jobs over the next five years. A timeline for completion was not released.
CYPRESS, TEXAS — HCA Houston Healthcare has purchased North Cypress Medical Center, a 139-bed acute care facility located in Cypress, a northwestern suburb of Houston. Specialty services offered at the property include cancer services, chemotherapy, pediatrics, sports medicine, robotic surgery and medical nutrition therapy. The seller was not disclosed.
EL PASO, TEXAS — Hunt Capital Partners has provided $22.8 million in equity financing for the adaptive reuse of Blue Flame Apartments, a historic multifamily building in El Paso. Built in the 1954, the 18-story building has been vacant for the past 12 years and will now be converted into a mixed-use property with 120 affordable housing units and 39,672 square feet of commercial space. The project, which carries a total price tag of $55.3 million, is scheduled for completion by January 2020.
ITASCA, ILL. — Bridge Development Partners LLC has purchased a 48-acre vacant land site in Itasca with plans to develop Bridge Point Itasca, a three-building industrial property. Spanning 741,621 square feet, the buildings will be designed to accommodate single users or multiple tenants with a clear height of 32 feet. In addition to the industrial buildings, the development will include more than seven acres of land zoned for retail use. Chris Nelson of Lee & Associates represented Bridge and its joint venture partner, Banner Oak Capital Partners LP, in the land transaction. Lee & Associates will market the property for lease. The seller, Entercom Communications Corp., acquired the site in a merger with CBS Radio in November 2017. Terms of the sale were not disclosed.
ST. PAUL, MINN. — Kraus-Anderson Construction Co. has completed RiverEast, a $21.9 million special education school in St. Paul. Located at 1055 Mackubin St., the 71,100-square-foot school will open in September and serve students in grades K-8. A maximum of 80 students will be enrolled in the school. Health and education design firm BWBR designed the school. Saint Paul Public Schools was the developer.
PACIFIC, MO. — HDA Architects has designed a new corporate headquarters for ADB Cos. in Pacific, about 35 miles west of St. Louis. ADB is part of the Keeley family of companies, which also includes a construction arm and development group. The project consists of a 36,852-square-foot office building and a 24,137-square-foot maintenance building. Plans call for a two-story lobby entrance and a lounge space. Completion of construction is slated for December.
ST. PAUL, MINN. — Marcus & Millichap has brokered the sale of an 87,044-square-foot industrial property in St. Paul for $4.6 million. Located at 195-215 Sycamore St., the property includes two freestanding warehouses with a fully paved and fenced outside storage space. Sean O’Brien and John Godwin of Marcus & Millichap marketed the property on behalf of the seller, a private investor. An out-of-state investor was the buyer. O’Brien also assisted the seller in negotiating an eight-year lease extension with tenant Allied Building Products prior to the closing.
LAKE BLUFF, ILL. — Quantum Real Estate Advisors Inc. has arranged the $1.5 million sale of a single-tenant retail building occupied by Sherwin Williams in Lake bluff, about 35 miles north of Chicago. The 3,799-square-foot building is located at 545 Rockland Road. Sherwin Williams has a 10-year lease at the property. A private real estate investor based in suburban Chicago purchased the asset. Chad Firsel of Quantum represented the seller, a Chicago-based acquisition and development company.
WOODLAND, CALIF. — Affiliates of El Tigre Holdings has purchased Woodland Crossroads, a shopping center located in Woodland within the Sacramento Valley. Woodland Crossroads TIC – Engstrom Properties sold the asset for $18 million. Originally developed in 1985 with K-Mart as its anchor, the property was substantially redeveloped in 2016 with Grocery Outlet as its new anchor. Current tenants include Ross Dress for Less, Party City, Harbor Freight and Tractor Supply. Dan Wald and Don LeBuhn of Cushman & Wakefield’s The Wald | LeBuhn Team represented the seller, while the Yorba Linda, Calif., office of Keller Williams represented the buyer in the deal.