Property Type

Meridian Capital Arranges $16M in Financing for Retail Center in El Segundo

by Amy Works November 8, 2018

EL SEGUNDO, CALIF. — Meridian Capital Group has arranged $16 million in financing to refinance The Hub – El Segundo, a retail property located at 600-630 N. Sepulveda Blvd. in El Segundo. Decron Properties is the borrower. Seth Grossman and Jackie Tran of Meridian Capital Group negotiated the seven-year loan, provided by a life insurance company, that features an extended period of interest-only payments followed by a 30-year amortization schedule. In-N-Out Burger, El Pollo Loco, Anytime Fitness and FedEx are tenants at the 37,000-square-foot property, which was built in 1990 and renovated in 2016.

November 8, 2018

Acquisitions Midwest Minnesota Office

Artemis, Eagle Ridge Acquire 374,942 SF Office Portfolio in Suburban Minneapolis

by Kristin Harlow November 8, 2018

GOLDEN VALLEY AND HOPKINS, MINN. — A joint venture between Artemis Real Estate Partners and Eagle Ridge Partners has acquired a four-building office portfolio in suburban Minneapolis. The purchase price was not disclosed. The properties include the three-building Golden Hills Business Park in Golden Valley and Westside Business Park in Hopkins. Together, the buildings span 374,942 square feet and are 93 percent leased. Judd Welliver, Ryan Watts, Sonja Dusil and Tom Holtz of CBRE represented the seller, a private real estate fund.

November 8, 2018

Acquisitions Illinois Midwest Net Lease Retail

Boulder Group Arranges $16M Sale of Property Net Leased to Jewel-Osco in Oak Lawn, Illinois

by Kristin Harlow November 8, 2018

OAK LAWN, ILL. — The Boulder Group has arranged the $16 million sale of a single-tenant property net leased to Jewel-Osco in Oak Lawn, a southwest suburb of Chicago. The 47,370-square-foot property is situated on 3.6 acres at 4650 W. 103rd St. Randy Blankstein and Jimmy Goodman of Boulder represented both parties in the sale. A Southwest-based private real estate investment company sold the asset to an investor based in Australia.

November 8, 2018

Acquisitions Midwest Ohio Retail

Alterra Buys 82,946 SF Shopping Center in Johnstown, Ohio for $3M

by Kristin Harlow November 8, 2018

JOHNSTOWN, OHIO — Alterra Real Estate Advisors has purchased Johnstown Village Square for $3 million. The 82,946-square-foot shopping center is located at 633-759 W. Coshocton St. in Johnstown, about 25 miles northeast of Columbus. The property sits on 10.7 acres and is currently 67 percent occupied. Tenants include Tractor Supply, Goodwill, Dollar Tree and H&R Block. Alterra plans to make improvements to the property. The firm will lease and manage the property.

November 8, 2018

Illinois Leasing Activity Midwest Office

Puratos Signs 6,668 SF Lease at Office Development Under Construction in Chicago’s Pilsen Neighborhood

by Kristin Harlow November 8, 2018

CHICAGO — Puratos, a Belgium-based international food science company, has signed a 6,668-square-foot lease to occupy space at Mural Park. The office will operate as an innovation center to expand the company’s U.S. footprint and service its Midwest clients. Jeff Dowdell, Katie Steele and William Briggs of Transwestern represented the landlord, Condor Partners, in the lease transaction with Puratos. Mural Park is a 200,000-square-foot creative office project in Chicago’s Pilsen neighborhood that involves the transformation of two existing industrial buildings from the early 1900s. The project is now 18 percent pre-leased. Anchor tenant 5 Rabbit Cerveceria is slated to open in early 2019. Maverick Commercial Mortgage Inc. arranged $33.7 million in construction financing. An East Coast-based mortgage REIT provided the financing.

November 8, 2018

Acquisitions Midwest Minnesota Retail

Marcus & Millichap Negotiates $4.6M Sale of Retail Property in Minnesota

by Kristin Harlow November 8, 2018

APPLE VALLEY, MINN. — Marcus & Millichap has negotiated the $4.6 million sale of a 5,511-square-foot retail property in Apple Valley, a suburb of the Twin Cities. Starbucks and Sleep Number fully occupy the building. Austin Weisenbeck, Daniel Dalmaso and Sean Sharko of Marcus & Millichap secured and represented the Minnesota-based buyer. Matthew Hazelton assisted in closing the transaction as the broker of record in Minnesota. The seller was not disclosed.

November 8, 2018

Development Multifamily Texas

Hines Breaks Ground on 39-Story Residential Tower in Dallas’ Victory Park

by Taylor Williams November 8, 2018

DALLAS — Hines has broken ground on The Victor, a 39-story residential tower that will be located within the Victory Park mixed-use development in Dallas. According to culturemap.com, the project carries a price tag of $150 million. The for-rent property will consist of 344 units featuring 10-foot ceilings, private balconies and floor-to-ceiling windows. Amenities will include a resort-style pool, a fitness center, coworking and conference spaces, social lounges with complimentary beverage and coffee bars, a pet spa, bike shop and 9,500 square feet of street-level retail space. Munoz + Albin designed the building, which is slated for a second-quarter 2021 completion. Preleasing will begin in fall 2020.

November 8, 2018

Acquisitions Industrial Self-Storage Texas

Strategic Storage Trust Acquires 540-Unit Self-Storage Facility in Houston

by Taylor Williams November 8, 2018

HOUSTON — Strategic Storage Trust IV Inc., a public non-traded real estate investment trust sponsored by SmartStop Asset Management LLC, has acquired a 540-unit self-storage facility in Houston. The facility, which was built in 2007, is located at 8415 Queenston Blvd. and spans approximately 63,000 net rentable square feet. The property was 91 percent leased at the time of sale. Nick Walker and John Fenoglio of CBRE brokered the deal. The seller was not disclosed.

November 8, 2018

Acquisitions Retail Texas

Gordon Partners Acquires 95,960 SF Retail Center in Houston

by Taylor Williams November 8, 2018

HOUSTON — Houston-based Gordon Partners has acquired University Plaza, a 95,960-square-foot retail center in Houston. The property was built in 1979 and is leased to tenants such as Goodwill, Dollar Tree, Arby’s and The UPS Store. Micha van Marcke and Chace Henke of EDGE Realty Capital Markets represented the undisclosed seller in the transaction.

November 8, 2018

Development Retail Southeast Tennessee

CBL Properties Opens 228,000 SF Shopping Center in Cookeville, Tennessee

by Amy Works November 8, 2018

COOKEVILLE, TENN. — CBL Properties, along with Browning Development Solutions and CHM LLC, has opened The Shoppes at Eagle Point, a power retail center located on Interstate Drive in Cookeville. Publix, Academy Sports + Outdoor, Ross Dress for Less, PetSmart, Shoe Carnival and Ulta Beauty anchor the 228,000-square-foot shopping center. Additional tenants include Panera Beach and Chipotle Mexican Grille, among other shops and restaurants.

November 8, 2018

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