Property Type

Lee & Associates Brokers $1.2M Sale of Little Caesars Restaurant Asset in Pico Rivera, California

by Amy Works March 7, 2019

PICO RIVERA, CALIF. — Lee & Associates has arranged the sale of a restaurant property, located at 9209 Telegraph Road in Pico Rivera. NLA Pico Rivera sold the property to Bellside Property Management for $1.2 million. The built-to-suit property was completed in late December for Little Caesars. Situated on 0.2 acres, the 1,252-square-foot building features a drive-thru. Ryan Barr and Ryan Bennett of Lee & Associates – North San Diego County represented the seller, while Lee & Associates – Riverside represented the buyer in the deal.

March 7, 2019

Acquisitions California Retail Western

CalBay Development Acquires Burger King Drive-Thru in California for $1.9M

by Amy Works March 7, 2019

ARCADIA, CALIF. — CalBay Development has purchased a drive-thru restaurant redevelopment site in Arcadia. An undisclosed seller sold the asset for $1.9 million. Totaling 30,000 square feet of land, the property features a 3,000-square-foot building with an expiring lease. The current tenant is Burger King. Rory Holdstock of Pinnacle Estate Properties brokered the transaction.

March 7, 2019

Loans Office Texas

New York Life Provides $122.9M Construction Loan for Austin Office Project

by Taylor Williams March 7, 2019

AUSTIN, TEXAS — New York Life Insurance Co. has provided $122.9 million in construction financing for RiverSouth, a 350,611-square-foot office project in Austin. The 15-story property, which is expected to be complete in early 2021, will feature 17,277 square feet of retail space and amenities including a fitness center, a sky lounge and surrounding hiking trails. The loan carries a floating interest rate, five-year term and a 12-month extension option. The borrower was not disclosed, but the property brochure identifies Stream Realty Partners as the developer. Colby Mueck, Robert Wooten, Chris McColpin and Jayme Nelson of HFF placed the debt on behalf of Stream Realty Partners.

March 7, 2019

Acquisitions Multifamily Student Housing Texas

Nelson Partners Acquires Student Housing Property Near UT Austin for $100M

by Taylor Williams March 7, 2019

AUSTIN, TEXAS — California-based investment firm Nelson Partners has acquired Skyloft, a student housing property located one block from the University of Texas (UT) at Austin, for $100 million. The newly built, 18-story community features 674 beds. Amenities include a rooftop pool, fitness center, marketplace, study lounges and full-meal vending machines. The property was 100 percent occupied at the time of sale and is 77 percent preleased for the 2019-2020 academic year. Marcus & Millichap Capital Corp. arranged a $66.1 million acquisition loan that carried a 10-year term and a fixed interest rate of 4.5 percent, for the transaction.

March 7, 2019

Development Multifamily Texas

Columbus Realty Partners to Develop 433-Unit Multifamily Community in Metro Austin

by Taylor Williams March 7, 2019

ROUND ROCK, TEXAS — Columbus Realty Partners will break ground this month on Parkside at Round Rock, a 433-unit multifamily community that will be located in the northern Austin suburb of Round Rock. The property will be situated adjacent to Round Rock Premium Outlets, a shopping and dining destination owned and operated by Simon Property Group (NYSE: SPG). Parkside at Round Rock will feature a variety of floor plans and amenities such as a pool, fitness center, dog park and an athletic field. The first units are expected to be available for occupancy by the first quarter of 2020.

March 7, 2019

Acquisitions Retail Texas

World Class Property Acquires 191,760 SF Retail Power Center in Austin

by Taylor Williams March 7, 2019

AUSTIN, TEXAS — World Class Property Co., an Austin-based investment firm headed by Nate Paul, has acquired Arboretum Crossing, a 191,760-square-foot regional power center in Austin. The property is situated on 20 acres at the intersection of three of Austin’s busiest thoroughfares. Tenants include Bed Bath & Beyond, World Market, Mattress Firm and Ferguson Enterprises. The seller was New York-based Kimco Realty Corp.

March 7, 2019

Leasing Activity Office Texas

Dallas Cowboys to Open 18,000 SF Coworking Space at The Star in Frisco

by Taylor Williams March 7, 2019

FRISCO, TEXAS — The Dallas Cowboys will open Formation, an 18,000-square-foot coworking office space at The Star, the team’s 91-acre headquarters facility in Frisco. Formation will feature open collaborative workspace, dedicated desks and private offices, as well as access to The Star’s retail and restaurant amenities. The opening is currently set for early summer.

March 7, 2019

Leasing Activity Michigan Midwest Retail

H&M to Open First Detroit Location in Downtown Woodward Shopping District

by Kristin Harlow March 7, 2019

DETROIT — H&M, a Swedish fashion retailer, has unveiled plans to open its first Detroit location this fall. The trendy clothing retailer has signed a lease with Bedrock, the real estate arm of billionaire businessman Dan Gilbert, founder and chairman of Quicken Loans. H&M will occupy a 25,000-square-foot space within three Albert Kahn-designed buildings on the west side of Woodward Avenue. The historic Woodward shopping district was once home to Detroit’s most prominent department stores, including J.L. Hudson’s.

March 7, 2019

Acquisitions Kansas Midwest Multifamily

Hamilton Zanze Acquires 272-Unit Apartment Community in Overland Park, Kansas

by Kristin Harlow March 7, 2019

OVERLAND PARK, KAN. — Hamilton Zanze has acquired the 272-unit Metcalf Village Apartments in Overland Park for an undisclosed price. The company plans to rebrand the community as Boulders at Overland Park Apartments. Built in 2017, the property spans 261,862 square feet. Amenities include a fitness center and a saltwater pool. Hamilton Zanze, a San Francisco-based real estate investment company, plans to improve outdoor lighting and landscaping. Mission Rock Residential will manage the asset. The seller was not disclosed.

March 7, 2019

Industrial Kansas Leasing Activity Midwest

Two Companies Sign Leases at Speculative Industrial Building Developed by Opus in Olathe, Kansas

by Kristin Harlow March 7, 2019

OLATHE, KAN. — The Opus Group has signed two tenants at its recently completed 56 Commerce Center in Olathe. Gateway Classic Cars and Lanter Delivery Systems Inc. now occupy more than 85,000 square feet within the 230,000-square-foot speculative industrial building. Gateway Classic Cars is a seller of collectible and exotic automobiles. The company’s space includes a showroom for vehicles and storage. Lanter uses its space as a regional shipping hub for its local automotive, agricultural and industrial clients. The company provides specialized overnight delivery logistic services, ensuring deliveries reach their intended destinations by the following morning. Features of 56 Commerce Center include a clear height of 32 feet, a front parking lot and rear truck court. Joe Orscheln and Mike Mitchelson of CBRE marketed the property for lease. Mark Long of Newmark Grubb Zimmer represented Gateway Classic Cars while John Stafford of Colliers International represented Lanter.

March 7, 2019

Newer Posts

Older Posts