Property Type

Colliers Negotiates $4.5M Sale of Flex Building in Hopkinton, Massachusetts

by Amy Works February 26, 2018

HOPKINTON, MASS. — Colliers International has brokered the sale of a flex building located at 35 South St. in Hopkinton. LakePharma, a U.S.-based biologics company, acquired the property from BCC Property I LLC, a subsidiary of Midway Corp., for $4.5 million. The buyer plans to repurpose much of the building’s existing 69,009 square feet of office, lab and manufacturing infrastructure and develop the space to allow for the performance of GMP biologics manufacturing for Phase 1 clinical trials. John Carroll III, Stephen Woelfel Jr. and Kevin Brawley of Colliers represented the seller, while Phil Desimone of JLL represented the buyer in the transaction.

February 26, 2018

Industrial New York Northeast

Ariel Property Advisors Facilitates $3.7M Sale of Industrial Building in the Bronx

by Amy Works February 26, 2018

NEW YORK CITY — Ariel Property Advisors has brokered the sale of an industrial property located at 4510 White Plains Road in the Wakefield neighborhood of the Bronx. An undisclosed buyer acquired the two-story building sold for $3.7 million. The 29,029-square-foot building features four curb cuts and entrances. Additionally, the property is zoned M1-1, which allows for manufacturing use. Marko Agbaba, Jason Gold, Victor Sozio and David Khukhashvilli of Ariel Property Advisors represented the undisclosed seller and secured the buyer in the deal.

February 26, 2018

Industrial New Jersey Northeast

Global Transport Logistics Leases 253,575 SF of Industrial Space in Piscataway, New Jersey

by Amy Works February 26, 2018

PISCATAWAY, N.J. — Global Transport Logistics has leased 253,575 square feet of newly constructed warehouse and distribution space at 276 Old New Brunswick Road in Piscataway. The licensed air, ground and ocean freight forwarding company is relocating from Fair Lawn, New Jersey. The move will nearly double the third-party logistics company’s regional warehouse footprint. Noah Balanoff, Chuck Littell and Gregory Healy of Colliers International represented Global Transport, while JLL represented the landlord, Industrial Property Trust, in the transaction.

February 26, 2018

Industrial Texas

United States Cold Storage to Open $34M Warehouse in Denton

by Taylor Williams February 26, 2018

DENTON, TEXAS — United States Cold Storage (USCS), an operator of frozen food warehouses with 38 facilities across 13 states, will open a $34 million cold storage facility in Denton. According to the Denton Chamber of Commerce, the property will be situated on a 40-acre site on Jim Christal Road and will facilitate the creation of 67 new jobs. USCS recently closed on the land for the site but has not yet released a timeline for construction.

February 26, 2018

Multifamily Texas

FourPoint Brokers Sale of Newly Built Apartment Community in Metro Austin

by Taylor Williams February 26, 2018

PFLUGERVILLE, TEXAS — FourPoint Investments has brokered the sale of The Emerson Apartments, a 384-unit multifamily community located in the northern Austin metro of Pflugerville. Built in 2017, the property offers a mix of one-, two and three-bedroom units and amenities such as a resort-style pool, fitness center, putting green and coffee bar. Kevin Dufour, Chris Epp and Chris Bancroft of FourPoint represented the buyer and seller, both of whom requested anonymity, in the transaction.

February 26, 2018

Retail Texas

JLL Arranges Sale of Three Retail Centers Totaling 35,414 SF in Austin Area

by Taylor Williams February 26, 2018

CEDAR PARK AND AUSTIN, TEXAS — JLL has arranged the sale of three retail centers totaling 35,414 square feet in the Austin metropolitan area. The assets include the 19,994-square-foot Cypress Creek Plaza in Cedar Park; the 9,270-square-foot Shops at Silver Creek in the Parmer area of Austin; and the 6,150-square-foot Lamar Point Center on the city’s north side. Tim Allen of JLL represented the sellers in all three transactions. Travis Sawvell and Jon Switzer of JLL also represented the seller of Cypress Creek Plaza. The buyers were not disclosed.

February 26, 2018

Industrial Lee & Associates Texas

Lee & Associates Negotiates 60,141 SF Industrial Lease Near DFW Airport

by Taylor Williams February 26, 2018

FORT WORTH, TEXAS — Lee & Associates has negotiated a 60,141-square-foot industrial lease at 15000 Grand River Road in Fort Worth, directly south of Dallas-Fort Worth (DFW) International Airport. Tom Walrich and Reed Parker of Lee & Associates represented the landlord, FRAPAG Riverpark DFW LLC, in the lease negotiations. Michael Swaldi and Craig Phelps of JLL represented the tenant, Pratt Corrugated Holdings Inc., an affiliate of packaging manufacturer Pratt Industries.

February 26, 2018

Healthcare Texas

Metroplex Medical Centre to Open 5,300 SF Medical Facility at Sundance Square in Fort Worth

by Taylor Williams February 26, 2018

FORT WORTH, TEXAS — Metroplex Medical Centre will open a primary care medical facility within the Sundance Square retail and dining development in downtown Fort Worth. The healthcare provider will operate out of a 5,300-square-foot space at the corner of First and Commerce streets that will be outfitted over the next few months. The facility will be able to accommodate same-day appointments and walk-in emergencies, as well as conduct blood tests and X-Rays. The opening is slated for mid-year.

February 26, 2018

Illinois Midwest Retail

Marcus & Millichap Arranges $8.2M Sale of Retail Property in Mount Vernon, Illinois

by Kristin Harlow February 26, 2018

MOUNT VERNON, ILL. — Marcus & Millichap has arranged the sale of Times Square Marketplace in Mount Vernon for $8.2 million. The 263,459-square-foot retail property is located at the southeast corner of Broadway and 42nd streets in southern Illinois. Originally developed in 1974, the property was expanded in 1998 and received $12 million in upgrades to the parking lots, façade and signage in 2013. The center is situated on a 24-acre lot and is surrounded by six anchors including Hobby Lobby, Ross Dress for Less, Big Lots, Peebles, J.C. Penney and Dunham Sports. The property was 92 percent occupied at the time of sale. Sean Sharko, Austin Weisenbeck, Scott Wiles, Craig Fuller and Erin Patton of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. The team also secured and represented the buyer, a private investor.

February 26, 2018

Illinois Industrial Midwest

Holly Hunt Enterprises Signs 210,315 SF Industrial Lease in McCook, Illinois

by Kristin Harlow February 26, 2018

MCCOOK, ILL. — Holly Hunt Enterprises Inc. has signed a 210,315-square-foot industrial lease in McCook, a western suburb of Chicago. The designer and manufacturer of furniture, lighting products, textiles and leather products will occupy the space at 9450 Sergo Drive. Vern Schultz and Mike Senner of Colliers International represented Holly Hunt Enterprises in the lease transaction. Jason West, Sean Henrick and Larry Goldwasser of Cushman & Wakefield represented ownership, ML Realty Partners.

February 26, 2018

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