GRAND RAPIDS, MICH. — NAI Wisinski has brokered the sale of Northland Plaza in Grand Rapids for an undisclosed price. The 20,168-square-foot shopping center is located at 3325 Plainfield Ave. NE. The property, currently home to a fitness center and tanning salon, will be renovated. Bill Tyson and Todd Leinberger of NAI Wisinski represented the buyer, 1923 Property LLC. Darrel Herweyer of DAR Development represented the undisclosed seller.
ADDISON, ILL. — Lee & Associates has negotiated the $2 million sale of two industrial buildings in Addison, about 20 miles west of Chicago. The properties include a 13,884-square-foot building at 1236 Capitol Drive and a 15,200-square-foot building at 1770 Cortland Court. Jay Farnam represented the seller in both transactions. Neither the buyer nor the seller was disclosed.
WHEATON, ILL. — Salon Lofts has signed a 3,795-square-foot retail lease to open at Town Square Wheaton near Chicago. The 203,000-square-foot shopping center is located at the intersection of Blanchard Circle and Naperville Road. Interior build-out of the national salon chain’s space is expected to begin this month with completion slated for summer 2018. Tucker Development owns Town Square Wheaton.
CYPRESS, TEXAS — Chicago-based investment firm Waterton has acquired Carrington at Barker Cypress, a 330-unit multifamily community in Cypress, a northwestern suburb of Houston. The property offers one-, two- and three-bedroom units ranging in size from 830 to 1,567 square feet and amenities such as a pool with grilling areas, fitness center, business center and a game room. Waterton will invest in capital improvements to the interiors of the units. The seller was not disclosed.
HOUSTON — HFF has arranged the sale of Intrepid Business Park, a 270,750-square-foot industrial asset located in northwest Houston. Developed between 2014 and 2015, the Class A property is situated on 17.1 acres and offers convenient access to Beltway 8, U.S. Highway 290 and Interstate 10. Building features include 30-foot clear heights and 58 dock-high doors. Approximately 14.3 percent of the square footage is office space. Trent Agnew, Rusty Tamlyn and Dane Petersen of HFF represented the seller, Triten Real Estate Partners, in the transaction. The buyer and sales price were not disclosed.
BRYAN, TEXAS — Cypressbrook, an investment and brokerage firm based in the Houston area, has purchased Presidio, a 296-unit apartment property located in the central Texas city of Bryan. The property offers convenient access to Texas A&M University and Blinn College. Cypressbrook will upgrade the pool area to include an outdoor kitchen and add a dog park. Unit interiors will also be upgraded. The seller and sales price were not disclosed.
SPRING, TEXAS — NXT Capital, a Chicago-based lender, has provided $46 million for the refinancing of a 354-unit apartment community in Spring, a northern suburb of Houston. The property is located off Interstate 45 and features amenities such as a pool, two-level fitness center, resident lounge, outdoor grilling stations, a dog park and a car wash. Elliott Throne of HFF placed the loan with NXT Capital on behalf of the undisclosed borrower. The name of the property was also withheld.
SAN ANTONIO — Seavest Healthcare Properties LLC has opened The Children’s Hospital of San Antonio Health Pavilion – Stone Oak, a 60,000-square-foot healthcare property in northern San Antonio. The three-story ambulatory care facility is part of the CHRISTUS Santa Rosa Health System. Services offered by the new facility include an emergency room, physicians’ offices and a diagnostic imaging services center, as well as a pediatric outpatient testing and treatment center. Trammell Crow Co. served as co-developer of the property.
RENO, NEV. — SupplyHouse.com has leased 190,871 of industrial space at North Valleys Commerce Center in Reno. The space is located at 9460 N. Virginia St. The new lease brings Phase I of the commerce center to full occupancy. The owners will implement approximately $1 million in tenant improvements to the property for the new tenant, an online plumbing and heating parts and supplies retailer. The project’s developer is Panattoni Development. Tectonics will serve as the architect, while Alston Construction is the general contractor.
LAS VEGAS — Spring Hills Senior Communities has announced plans for Poet’s Walk Summerlin memory care community in the northwest submarket of Las Vegas. The community will feature 72 beds. The project is part of Spring Hills’ continued expansion plans within the memory care sector.