Property Type

Hayman Co. Plans $10M Upgrade of 732,000 SF Office Complex in Troy, Michigan

by Kristin Harlow November 16, 2017

TROY, MICH. — Hayman Co. has unveiled plans for a $10 million upgrade of a 732,000-square-foot office complex in Troy. The company purchased the five-building property earlier this year for $55 million. Along with external updates to the complex, renovations will be made to the lobbies and bathrooms. A conferencing center will also be added. The name change to PentaCentre is part of the rebranding process for the property, which is located along East Big Beaver Road and was originally built in the mid 1980s. Hayman Co. will handle management and leasing of the property.

November 16, 2017

Industrial Midwest Minnesota

Meritex to Develop Two Industrial Buildings Totaling 288,000 SF in Roseville, Minnesota

by Kristin Harlow November 16, 2017

ROSEVILLE, MINN. — Meritex is developing two 144,000-square-foot industrial buildings in Roseville, 10 miles northeast of St. Paul. Highcrest II and III will replace the former 360,000-square-foot Minnesota Technology Exchange building upon its demolition this month. The property is located at 2470 Highcrest Road. Meritex developed the building currently on the site in 1964, and owned and managed the property for four decades. The company sold the building in 2004, and then repurchased the asset in 2016. Completion of Highcrest II and III is slated for fall 2018. David Stokes, Todd Hanson, Jason Sell, Chris Weirens and Ian Thompson of Cushman & Wakefield will market the property for lease.

November 16, 2017

Loans Midwest Multifamily Nebraska

NorthMarq Arranges $24.4M Refinancing for Apartment Building in Omaha, Nebraska

by Kristin Harlow November 16, 2017

OMAHA, NEB. — NorthMarq Capital has arranged a $24.4 million Freddie Mac loan for the refinancing of Broadmoor Hills Phase III in Omaha. The 192-unit apartment building is located at 18440 West Dodge Hills Plaza. Community amenities include a fitness center, pool, indoor basketball court and resident movie theater. Jason Kinnison of NorthMarq arranged the loan for the borrower through its seller/servicer relationship with Freddie Mac.

November 16, 2017

Hospitality Iowa Midwest

CBRE Brokers Sale of 83-Room Hotel in Cedar Rapids, Iowa

by Kristin Harlow November 16, 2017

CEDAR RAPIDS, IOWA — CBRE Hotels has brokered the sale of the Holiday Inn Express South in Cedar Rapids for an undisclosed price. The 83-room hotel is located on 33rd Avenue. Amenities include a fitness center and indoor pool. Nate Sahn and Douglas Johnson of CBRE represented the seller, Amana-Nordstrom Inc. Sioux Falls, S.D.-based Bird Dog Equity Partners purchased the asset.

November 16, 2017

Industrial Office Texas

Bob Moore Completes 641,226 SF Headquarters for TTI in Fort Worth

by Taylor Williams November 16, 2017

FORT WORTH, TEXAS — Bob Moore Construction Inc. has completed a 641,226-square-foot facility for TTI Inc., a Fort Worth-based distribution firm. The facility, which will serve as the company’s main office headquarters and distribution center, is located within Mercantile Center, an industrial park situated along Meacham Boulevard on the city’s north side. Bob Moore Construction broke ground on the property, which features a tilt-wall configuration and 38 loading docks, in June 2016.

November 16, 2017

Industrial Texas

Stream Breaks Ground on 411,442 SF Distribution Center in Houston

by Taylor Williams November 16, 2017

HOUSTON — Stream Realty Partners has broken ground on Northwest Logistics Center, a 411,442-square-foot distribution center situated on 26 acres off North Eldridge Parkway just south of State Highway 290 in northwest Houston. Scheduled to deliver in June 2018, the cross-dock facility will feature 32-foot clear heights, an ESFR sprinkler system and additional outdoor/trailer storage space. The property is designed to accommodate users with footprints ranging from 75,000 square feet to the building’s full capacity.

November 16, 2017

Industrial Texas

JLL Arranges 164,419 SF Industrial Lease in Metro Dallas

by Taylor Williams November 16, 2017

GARLAND, TEXAS — JLL has arranged a 164,419-square-foot industrial lease at 3502 Regency Crest Drive in the Dallas metro of Garland on behalf of Zobele Group, an Italian product development and manufacturing firm. The company is expected to move in during the second quarter of 2018. Terry Darrow and Chris Stout of JLL represented Zobele Group in the lease negotiations. Ryan Wolcott of Stream Realty Partners represented the landlord, Stag Texas Holdings.

November 16, 2017

Hospitality Loans Office Texas

HSF Secures $22.8M Construction Loan for Hotel Conversion of Houston Office Building

by Taylor Williams November 16, 2017

HOUSTON — Hall Structured Finance (HSF), a Dallas-based private lender, has secured a $22.8 million construction loan to finance the adaptive reuse of the former Southwestern Bell Telephone Co. office building in downtown Houston into a 150-room Hyatt Place hotel. The new hotel will feature ground-floor dining, a rooftop bar, indoor pool, fitness center and approximately 800 square feet of meeting space. Guestrooms, which will be located on the third through 16th floors, will average about 400 square feet per room. A timetable for completion of the project has not yet been established.

November 16, 2017

Loans Multifamily Texas

Dougherty Closes $20.5M Acquisition Loan for Apartment Asset in Arlington

by Taylor Williams November 16, 2017

ARLINGTON, TEXAS — Dougherty Mortgage LLC has closed a $20.5 million Fannie Mae loan for the acquisition of Brookside Apartment Homes, a 288-unit multifamily property located at 2505 Thomason Circle in Arlington. The property features a newly renovated clubhouse, storage space, a pool, dog park and an outdoor kitchen with picnic areas. Dougherty arranged the 12-year loan through a partnership with Old Capital Lending on behalf of the borrower, DCP 2505 Thomason Circle LLC.

November 16, 2017

Multifamily North Carolina Southeast

Cushman & Wakefield Arranges $32.7M Sale of Multifamily Community in Charlotte

by Camren Skelton November 16, 2017

CHARLOTTE, N.C. — Cushman & Wakefield has arranged the $32.7 million sale of Tryon Park at Rivergate, a 202-unit apartment community in Charlotte. Jordan McCarley, Marc Robinson and Watson Bryant of Cushman & Wakefield arranged the transaction on behalf of the seller, Charlotte-based White Point Partners. Raleigh-based Chaucer Creek Capital acquired the asset. Tryon Park at Rivergate features a business center, saltwater swimming pool, fitness center with a yoga and Pilates studio, car care center, dog park, grilling stations and detached garages.

November 16, 2017

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