Property Type

SWBC Sells Two-Property Multifamily Portfolio in Dallas Area for $100M

by Taylor Williams December 15, 2017

FLOWER MOUND AND GRAND PRAIRIE, TEXAS — Dallas-based SWBC Real Estate LLC has sold two multifamily properties totaling 662 units in the Dallas area for $100 million. Virginia-based Weinstein Properties purchased the 358-unit River Walk Village in Flower Mound and the 304-unit Timberview Ranch in Grand Prairie from SWBC. Construction of the two Class A properties was completed in 2016 and 2017, respectively. Will Balthrope, Drew Kile and Joey Tumminello of Marcus & Millichap’s Institutional Property Advisors (IPA) division brokered the sale.

December 15, 2017

JLL Closes Sales of Two Industrial Facilities in Tampa Totaling $21.8M

by Camren Skelton December 15, 2017

TAMPA, FLA. — JLL has arranged the sales of two build-to-suit industrial facilities located within Crossroads Commerce Center in Tampa. The seller, Blue Steel Development LLC, acquired 71.5 acres within Crossroads Commerce Center in 2016 to develop both facilities. Ryan Vaught, John Dunphy and Robyn Hurrell of JLL represented Blue Steel in both transactions. NewSouth Window Solutions, a replacement window and door provider, acquired a 238,094-square-foot build-to-suit facility for $14.3 million, and Colonial Grocers, a wholesale grocery distributor, purchased a 112,800-square-foot facility for $7.5 million. Gary Godsey and Caleb Lewis of JLL represented Colonial Grocers in the transaction. With the completion of these sales, Crossroads Commerce Center is 50 percent sold and occupied. Blue Steel has build pads for two additional buildings within the park, one totaling 215,434 square feet and the other totaling 77,760 square feet.

December 15, 2017

Industrial North Carolina Southeast

HFF Brokers $19.4M Sale of 232,000 SF Warehouse in Charlotte

by Camren Skelton December 15, 2017

CHARLOTTE, N.C. — HFF has arranged the sale of a 232,000-square-foot distribution warehouse located at 6100 Harris Technology Blvd. in Charlotte. The building is located within Northwoods Business Park, roughly 10 miles from Uptown Charlotte. The sales price was not disclosed, but the Charlotte Business Journal reports the asset sold for $19.4 million. Chris Norvell, Ryan Clutter and Patrick Nally of HFF arranged the transaction on behalf of the seller, Sun Life Financial/Bentall Kennedy. Hartz Mountain Industries Inc. purchased the building. Constructed in 1994, the warehouse features 24-foot clear heights, truck courts up to 170 feet, 34 loading doors and an ESFR sprinkler system. At the time of sale, the warehouse was fully leased to three tenants, including Iron Mountain, a Boston-based information management services company.

December 15, 2017

Hospitality Loans Massachusetts Northeast

Fantini & Gorga Arranges $5M Loan for Hotel Property in New Bedford, Massachusetts

by Amy Works December 15, 2017

NEW BEDFORD, MASS. — Fantini & Gorga has arranged a $5 million loan for the acquisition and redevelopment of a property located at 222 Union St. in New Bedford. The undisclosed borrower is converting the property from office and retail space into a 46,600-square-foot boutique hotel. The new 68-room hotel will be a brand of Ascent Hotel Collection. Keith Wentzel and Despina Hixon of Fantini & Gorga arranged the financing through a New England regional bank.

December 15, 2017

Office Texas

Realty Capital Breaks Ground on 21,750 SF Office Building in Metro Dallas

by Taylor Williams December 15, 2017

FLOWER MOUND, TEXAS — Realty Capital Management has broken ground on Lakeside Professional Office, a 21,750-square-foot project in Flower Mound. The Class A property is being developed on a speculative basis. Bancorp South provided the construction loan for the project, which is expected to be complete by summer 2018.

December 15, 2017

Arkansas Office Southeast

NAS Purchases 30,829 SF Office Building in Bentonville, Arkansas

by Camren Skelton December 15, 2017

BENTONVILLE, ARK. — NAS Investment Solutions has acquired a 30,829-square-foot office building in Bentonville, along with five tenants-in-common (TIC) co-owners. Nick Viscount and Tim Winton of Keystone Mortgage Corp. arranged a 10-year, fixed-rate loan for the acquisition on behalf of the buyer. Other terms of the transaction were not disclosed. The property features a brick-and-glass architectural design and was solely occupied by a Fortune 500 company at the time of sale.

December 15, 2017

Retail Texas

Fitness Connection Opens 55,000 SF Gym at Shops at Tech Ridge in Austin

by Taylor Williams December 15, 2017

AUSTIN, TEXAS — Fitness Connection has opened a 55,000-square-foot gym at Shops at Tech Ridge, a 504,153-square-foot shopping center on Austin’s north side. The club will offer a kids’ club with a movie theater, a women’s-only workout area, a sauna and a variety of group fitness classes. This is the second location that Fitness Connection has opened in Austin in the past year.

December 15, 2017

Illinois Midwest Retail

IPC Sells Mariano’s-Occupied Retail Building in Palatine, Illinois for $29M

by Kristin Harlow December 15, 2017

PALATINE, ILL. — Inland Private Capital Corp. (IPC) has sold a 71,324-square-foot retail building occupied by Mariano’s Fresh Market in Palatine, about 30 miles northwest of Chicago, for $29 million. The property sits on 6.5 acres at 545 N. Hicks Road. The building, constructed in 2011, is 100 percent leased to Roundy’s Supermarkets Inc., which is owned by Kroger Co. IPC facilitated the sale of the property on behalf of one of its 1031 exchange investment programs. Christian Williams and Michael Kaider of CBRE represented IPC in the sale. The buyer was a private investor.

December 15, 2017

Illinois Industrial Midwest

Avison Young Brokers Sale of 190,000 SF Industrial Portfolio in Mount Prospect, Illinois

by Kristin Harlow December 15, 2017

MOUNT PROSPECT, ILL. — Avison Young has brokered the sale of a 190,000-square-foot industrial portfolio in Mount Prospect within Chicago’s O’Hare submarket. The sales price was not disclosed. The four-building portfolio is 97 percent leased to tenants such as EPP Corp., Nikuni America and Lapmaster International. The buildings include: 501 Algonquin Road (62,344 square feet), 401-411 West Algonquin Road (15,278 square feet) and 1840-1864 and 1870-1894 South Elmhurst Road (56,182 square feet in each complex). Erik Foster and Mike Wilson of Avison Young represented the seller, Clear Height Properties. The buyer was not disclosed.

December 15, 2017

Midwest Minnesota Office

WeWork Signs 46,000 SF Office Lease in Minneapolis

by Kristin Harlow December 15, 2017

MINNEAPOLIS — WeWork has signed a 46,000-square-foot office lease at MoZaic East in the Uptown neighborhood of Minneapolis. The 198,000-square-foot creative office and retail property is currently under construction, with completion slated for late 2018. This lease represents one-quarter of the total office space available at MoZaic East. WeWork is a shared workspace for entrepreneurs, freelancers, startups and small businesses. WeWork currently has more than 170 locations spread across 56 cities in 18 countries. The company maintains one other location in Minnesota at Capella Tower in downtown Minneapolis. Emily Nicoll of CBRE represented WeWork in the lease transaction. Mark McCary, Larissa Champeau, Brent Karkula and Joe Conzemius of CBRE represented the landlord, Ackerberg.

December 15, 2017

Newer Posts

Older Posts