Property Type

Meridian to Construct 122,000 SF Industrial Build-to-Suit in Indianapolis

by Kristin Harlow April 5, 2018

INDIANAPOLIS — Meridian Design Build is constructing a 122,000-square-foot industrial build-to-suit for Ferguson Enterprises in Indianapolis. The new facility, located on a 14.8-acre site at 4110 N. Franklin Road, will serve as a distribution facility for the company’s plumbing division. The building will include a 10,000-square-foot office space, a 5,000-square-foot sales area and 106,000 square feet of warehouse space with 19 loading dock positions. The property will be able to accommodate 50,000 square feet of future expansion. A timeline for completion was not disclosed. Cornerstone Architects is providing architectural services while American Structurepoint is serving as civil engineer. Ferguson Enterprises distributes products for plumbing, HVAC, refrigeration, waterworks and industrial equipment.

April 5, 2018

Leasing Activity Office Texas

J. Beard Negotiates 11,665 SF Office Sublease in Metro Houston

by Taylor Williams April 5, 2018

SPRING, TEXAS — The J. Beard Real Estate Co. has negotiated an 11,665-square-foot office sublease at 28420 Hardy Toll Road in the northern Houston metro of Spring. Sean Durkin of J. Beard represented the original tenant, Swire Oilfield Services Inc., in the negotiations. Candace Baggett of Calibre Group represented the sublessee, Calfrac Well Services Corp., which is relocating and expanding its current space at the property.

April 5, 2018

Development Midwest Missouri Retail

Confluent, Draper and Kramer to Redevelop Former Southwest Bank Property in St. Louis

by Kristin Harlow April 5, 2018

ST. LOUIS — Confluent Development and Draper and Kramer Inc. are planning to redevelop the former Southwest Bank property in the Reber Place Historic District of St. Louis. Upon completion, the project will be home to a 4,200-square-foot BMO Harris Bank, a 10,000-square-foot Walgreens and a 2,700-square-foot space for an additional retailer. Completion is slated for spring 2019. Rosemann & Associates is serving as the project architect.

April 5, 2018

Acquisitions Illinois Industrial Midwest

Brown Commercial Brokers Sale of 38,128 SF Industrial Warehouse in Elgin, Illinois

by Kristin Harlow April 5, 2018

ELGIN, ILL. — Brown Commercial Group has brokered the sale of a 38,128-square-foot industrial warehouse in Elgin, a northwest suburb of Chicago. The sales price was not disclosed. The fully leased property is located at 1700-1730 Todd Farm Drive within the Windsor Commerce Center. Brian Lindgren of Brown represented the buyer, Nottingham Realty Group LLC. John D’Orazio of Colliers International represented the seller, Cristie Ann Enterprises LLC.

April 5, 2018

Acquisitions Midwest Office Ohio

Marcus & Millichap Arranges $1.3M Sale of Office Building in Newark, Ohio

by Kristin Harlow April 5, 2018

NEWARK, OHIO — Marcus & Millichap has arranged the $1.3 million sale of an office building occupied by the Social Security Administration property in Newark, about 40 miles northeast of Columbus. The 7,818-square-foot property is located at 125 Derby Downs Road. The facility was constructed in 2007 as a build-to-suit for the Social Security Administration. Justin Fenn and Dan Yozwiak of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. Geoff Ficke of Marcus & Millichap secured and represented the buyer, a limited liability company.

April 5, 2018

Development Industrial South Carolina Southeast

Silverman Group to Break Ground on $65M Industrial Campus Near Charleston

by Camren Skelton April 5, 2018

SUMMERVILLE, S.C. — New Jersey-based The Silverman Group will break ground next week on Foreign Trade Zone, a $65 million industrial project located on 400 acres in Summerville, roughly 25 miles from the Port of Charleston. The first building at the development will total 562,544 square feet and will feature 36-foot clear heights, ample dock doors and trailer storage. The park will also include 520,000 square feet of proposed build-to-suit land. The project is slated for completion in the fourth quarter.

April 5, 2018

District of Columbia Loans Multifamily Southeast

Walker & Dunlop Funds $41M Refinancing for Apartment Community in D.C.

by Camren Skelton April 5, 2018

WASHINGTON, D.C. — Walker & Dunlop has provided a $41 million bridge loan for the refinancing of Zen Apollo, a 274-unit apartment community located between Washington, D.C.’s Logan Circle and City Center neighborhoods. The undisclosed borrower will use the 12-month loan to reposition the property, which was originally constructed in 1967 and renovated in 2007. Community amenities include a swimming pool, fitness center, clubhouse with billiards, movie theater and poker tables.

April 5, 2018

Arkansas Loans Multifamily Southeast

Dougherty Provides $19.8M Fannie Mae Refinancing for Apartment Asset in Bentonville, Arkansas

by Camren Skelton April 5, 2018

BENTONVILLE, ARK. — Dougherty Mortgage LLC has provided a $19.8 million Fannie Mae loan for the refinancing of The Pointe at Bentonville, a 170-unit apartment community in Bentonville. The 10-year loan features a 30-year amortization schedule. Dougherty Mortgage closed the loan on behalf of the borrower, The Pointe at Bentonville LLC. The community features a mix of one-, two- and three-bedroom units and features a business center, clubhouse, coffee bar, tanning salon, library, fitness center, picnic area, pool, movie theater and a game room.

April 5, 2018

Loans Multifamily North Carolina Southeast

Berkadia Closes $18.8M Fannie Mae Acquisition Loan for Multifamily Community in Asheville

by Camren Skelton April 5, 2018

ASHEVILLE, N.C. — Berkadia has provided an $18.8 million acquisition loan for The Views, a 160-unit apartment community located at 1690 Hendersonville Road in Asheville. Mitch Sinberg, Matthew Robbins, Robert Falese and Jeremy Lynch of Berkadia originated the 12-year, fixed-rate loan with six years of interest-only payments through Fannie Mae’s Green Rewards program on behalf of the borrower, Colorado-based Goldelm. Constructed in 1993, The Views offers a mix of one- to three-bedroom units with granite countertops, stainless steel appliances and wheelchair accessibility. Community amenities include a swimming pool, fitness center, basketball court, clubhouse, lounge, coffee bar and storage space. Florida-based Michaelson Group will manage the property.

April 5, 2018

Florida Leasing Activity Retail Southeast

Whole Foods to Relocate Store to Bromley’s Midtown Tampa Project

by Camren Skelton April 5, 2018

TAMPA, FLA. — Whole Foods Market has unveiled plans to open a 48,000-square-foot location at Midtown Tampa, a planned mixed-use project in Tampa. New York-based Bromley Cos. is developing the project, which will feature more than 200,000 square feet of retail, restaurant, entertainment and outdoor space; 750,000 square feet of office space; 400 multifamily units and two boutique hotels. Whole Foods will relocate from its current 32,000-square-foot Tampa location upon opening at the development in fall 2020. The new store will employ approximately 200 full- and part-time members.

April 5, 2018

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