LAS VEGAS — Marcus & Millichap has arranged the sale of a professional office building in Las Vegas, located at 7866 W. Sahara Ave. within Coronado Bay Business Park. A local investor sold the property to a Nevada law firm for $1 million. The buyer plans to occupy the 4,850-square-foot building. Ryan McCullough and Tina Taylor of Marcus & Millichap represented the seller in the transaction.
COLORADO SPRINGS, COLO. — Confluent Development is nearing completion of an 8,265-square-foot, multi-tenant retail center in Colorado Springs. The property will be home to a 3,800-square-foot Snooze: an A.M. Eatery restaurant and a 1,491-square-foot Bishops Cuts/Color barbershop. Both locations are set to open in early 2019. The project is designed to also house a third future retailer in the remaining 3,000 square feet of space. Studio DH Architecture served as the architect on the project and Epic Construction as the general contractor.
OMAHA, NEB. — R&R Realty Group has completed development of a 250,000-square-foot speculative warehouse in Omaha. Warehouse 1, located at the intersection of Gold Coast Road and Highway 50, is the first warehouse to be completed within R&R Commerce Park. Three more buildings are planned within the park for a total of more than 1 million square feet. Each of the buildings will feature a clear height of 32 feet. R&R will own, manage and complete lease-up of the development. Leuder Construction served as the contractor on the project.
CHARLESTOWN, IND. — 1250 Patrol Road LLC, a subsidiary of Olympus Ventures, has received a $13 million loan for the refinancing of a 314,400-square-foot distribution center in Charlestown near Louisville. J. Knipper & Co. Inc., a pharmaceutical supplier, fully occupies the building as its Midwest distribution center. Doug Seylar of CBRE arranged the 10-year loan, which features a fixed interest rate and a 30-year amortization schedule. The lender was not disclosed.
CHICAGO — Jameson Commercial has brokered the sale of a 35,000-square-foot industrial building in Chicago’s West Loop for $5.4 million. The buyer, LG Development Group, plans to demolish the building and replace it with a 10-story, 166-unit apartment building. Jameson represented the seller, Fred Baker Trust. The property, located at 1214-1230 W. Jackson Blvd., was formerly home to FredEric’s Frame Studio.
CHICAGO — Three new retailers have joined the tenant lineup at Optima Signature, a 57-story luxury apartment tower in Chicago’s Streeterville neighborhood. GoodVets Streeterville, a full-service veterinarian, has opened its 2,000-square-foot office. RUNAWAY, a run conditioning fitness studio, will occupy 4,200 square feet starting in November. Guidepost Montessori, a California-based school serving toddlers and preschoolers, is scheduled to open an 11,500-square-foot school later this year. Located at 220 E. Illinois St., Optima Signature features 490 apartment units and 58,000 square feet of retail and commercial space. Developer Optima Inc. completed the LEED Silver-certified property in 2017. Monthly rents start at $2,265.
KAUKAUNA, WIS. — Dollar Tree has signed a 9,525-square-foot lease in Kaukauna, about nine miles east of Appleton. The property is located at 321 W. Main St. Ross Koepsel and Nick Tice of Founders 3 Real Estate Services represented the tenant in the lease transaction. The landlord was not disclosed.
MCKINNEY, MISSOURI CITY AND LEAGUE CITY, TEXAS — CBRE has negotiated the sale of a three-property retail portfolio located on the outskirts of Dallas and Houston. Combined, McKinney Towne Crossing in metro Dallas, and Riverstone Shopping Center and Victory Lakes Town Center in metro Houston, feature more than 885,000 square feet of Class A retail space. Chris Gerard, Mark Witcher and Blaine Dozier of CBRE represented the seller, Chicago-based InvenTrust Properties, in the transaction. Houston-based Fidelis Realty Partners purchased the assets for an undisclosed price. The portfolio was 94 percent leased at the time of sale.
IRVING, TEXAS — Trammell Crow Co. has broken ground on a 259,947-square-foot office and administrative building in Irving to house the U.S. Citizenship and Immigration Services’ Texas Service Center. Situated on 27 acres, the build-to-suit property is expected to be complete by early 2020. Gensler is the project architect and Manhattan Construction Co. is the general contractor. JPMorgan Chase provided project financing.
DALLAS — Full-service real estate firm Finial Group has acquired Westmoreland Business Center, an 85,033-square-foot light industrial facility in Dallas. The property offers convenient access to several thoroughfares, including Interstate 20. Finial Group will continue to lease and manage the property. The seller was not disclosed.