SALT LAKE CITY — NWQ LLC, a joint venture between Colmena Group, Wadsworth Development Group and Stokes Partners, has launched Phase I of SLC Port Global Logistics Center, a 7.5 million-square-foot industrial development in Salt Lake City. The 3,000-acre logistics park located in Salt Lake City’s Northwest Quadrant. SLC Port Global Logistics Center has capacity to accommodate up to 50 million square feet of Class A speculative and build-to-suit buildings, combined with owner-occupied and mega-site land for sale. Phase I of the development consists of 10 buildings totaling about 7.5 million square feet of bulk distribution and manufacturing industrial space. Building 2, consisting of 532,000 square feet, and Building 3, consisting of 170,000 square feet, are scheduled for delivery in spring 2019. CBRE’s Tom Dischmann, Jeff Richards, Matt McAfee and Chris Liddell will oversee listing on behalf of NWQ LLC.
TEMPE, ARIZ. — Western Wealth Capital has acquired the 150-unit Villatree apartments in Tempe for $17.3 million. The community is located at 1750 S. Price Road. Villatree was built in the 1980s, providing the new owner with a value-add opportunity. Steve Gebing and Cliff David represented both the buyer and the seller, PEM Real Estate Group, in this transaction.
HENDERSON, NEV. — Cypress West Partners has acquired Parkway Medical Plaza, an 88,958-square-foot medical office building in the Las Vegas submarket of Henderson for an undisclosed sum. The building is located at 100 N. Green Valley Parkway. Parkway Medical Plaza is 95 percent occupied with tenants including Healthcare Partners, Parkway Surgery Center and CareMore. It was built in 1997. The firm acquired the asset with Virtus Real Estate Capital. This marks the first joint venture for the two firms.
LONG BEACH, CALIF. — Keely Partners has acquired the 22-unit Anaheim Road Apartments in Long Beach for $8 million. The community is located at 5401 E. Anaheim Road. It was built in 1987. The community contains 22 two-bedroom/two-bathroom units. Robert Stepp and Michael Toveg of Stepp Commercial represented both buyer and the seller, a private trust, in this transaction.
PHOENIX — Pilkington North America has renewed its lease for 200,000 square feet at a distribution center in Phoenix. Buckeye 75 Distribution Park is located at 7375 W. Buckeye Road. Buckeye 75 Distribution Park totals three buildings with up to 30-foot clear height, ESFR sprinklers, T-5 lighting, evaporative cooling, skylights and on-site trailer storage for large warehouse and distribution operations. It is fully leased. Michael Haenel of Cushman & Wakefield represented Pilkington in its lease negotiations. Lincoln Property Co. owns the center.
HOUSTON — HFF has negotiated the sale of Brookhollow Central I, II and III, a three-building portfolio of office properties totaling 806,541 square feet in Houston’s North Loop submarket. Dan Miller and Marty Hogan of HFF represented the seller, Miami-based office investment firm Parmenter, in the transaction. California-based Hertz Investment Group purchased the properties for an undisclosed price.
HOUSTON — Austin-based entertainment concept Flix Brewhouse will open a 38,750-square-foot cinema and microbrewery within Hub at Harvest Green, a 300,000-square-foot dining and shopping destination under construction in Houston. The center, which Trammell Crow Co. is developing, will be located at the intersection of Grand Parkway and West Airport Boulevard. Flix Brewhouse is the first entertainment anchor signed at Hub at Harvest Green, which is slated to open in summer 2019.
GRAPEVINE, TEXAS — Fults Commercial Real Estate has broken ground on Kriya Plaza, a 32,867-square-foot office building in the northwestern Dallas metro of Grapevine. The property overlooks Lake Grapevine and is situated across the street from Grapevine Mills Mall. A timeline for completion was not disclosed, but tenant improvements will be available beginning in June.
FORT WORTH, TEXAS — Marcus & Millichap has brokered the sale of Woodway on the Green, a 176-unit multifamily complex in Fort Worth, for an undisclosed price. The property is located near Harris Hospital and Hulen Mall. Al Silva, Mark McCoy and Ford Braly of Marcus & Millichap represented the seller, a private investor who developed the property in 1979. Lubbock-based Madera Residential purchased the complex and will implement a capital improvement plan.
MEMORIAL CITY, TEXAS — NAI Partners has negotiated a 47,000-square-foot industrial sublease at 9811 Katy Freeway in the western Houston suburb of Memorial City. Jon Silberman, John Ferruzzo and Nick Peterson of NAI Partners represented the tenant, data processing firm Fairfield Nodal, in the sublease negotiations. The name and representative of the sub-landlord were not released.