ALLEN, TEXAS — Carrollton-based data center REIT CyrusOne has broken ground on a 340,000-square-foot data center campus located near the intersection of Stacy Road and Chelsea Boulevard in the northeastern Dallas metro of Allen. The three-building campus will be capable of generating more than 100 megawatts of power upon completion. The facility, which could span 90 acres at full build-out, raises CyrusOne’s total data center footprint in Texas to more than 1 million square feet.
MINNEAPOLIS — CBRE has arranged the sale of a 10-property apartment portfolio in suburban Minneapolis for $77 million. The portfolio spans 768 units in Bloomington, Brooklyn Center, New Hope and St. Paul. Aeon, a local nonprofit affordable housing developer and owner, purchased the portfolio. Constructed between 1964 and 1970, the units range in size from studios to three-bedroom units and average 1,012 square feet. Keith Collins, Ted Abramson, Abe Appert and Laura Hanneman of CBRE represented the seller, Hillaway Investments LLC. Prior to the sale, the seller completed $2.4 million in capital improvement projects over the past three years.
LINCOLNSHIRE, ILL. — Principal Real Estate Investors has sold Tri-State International Office Center in Lincolnshire, a northern suburb of Chicago. The sales price was $75 million, according to local media reports. The Class A office park spans five buildings and 559,204 square feet. The buildings are 79.3 percent leased to tenants such as CDW Corp., LTD Commodities, Solo Cup and Wells Fargo Bank NA. CDW, a computer hardware and software company, occupies two buildings at the property for its corporate headquarters. Amenities include a conference center, 135-seat auditorium, fitness center and deli. Patrick Shields, Bryan Rosenberg, Jaime Fink, Jeff Bramson and Mark Katz of HFF represented Principal Real Estate Investors. Bradford Allen Investment Advisors represented the undisclosed buyer.
STAFFORD AND SUGAR LAND, TEXAS — Colliers International has arranged the sale of two industrial properties totaling 400,000 square feet in the Houston metros of Stafford and Sugar Land. Jim Pratt and Trey Erwin of Colliers represented the seller of a 70,000-square-foot distribution facility located at 10702 Cash Road in Stafford. The tenant, Capital Plastics International Inc., will relocate from that property to a 330,000-square-foot facility located at 1601 Gillingham Lane in Sugar Land. Colliers recently represented the seller of that property as well.
CHICAGO — Developer Related Midwest has opened Landmark West Loop in Chicago’s West Loop. The 31-story, 300-unit apartment tower is located at 1035 W. Van Buren St. Designed by Morris Adjimi Architects, Landmark West Loop features a mix of studio, convertible, one-, and two-bedroom apartments, along with two- and three-bedroom penthouses. Residences range in size from 500 to 1,960 square feet. Rents start at $1,740 per month. The nearly 12,000 square feet of amenity space features a sun deck with pool, spa, cabanas, lounge areas, fire pit, outdoor kitchens and dog run. Indoor amenities include ping-pong, shuffleboard and arcade games, a 3,500-square-foot fitness center, lounge and library. This is the developer’s third luxury rental property in downtown Chicago.
OMAHA, NEB. — NorthMarq Capital has arranged a $14.2 million Fannie Mae loan for the refinancing of Chateau at Hillsborough in Omaha. The 114-unit apartment property is located at 4804 North 133rd Plaza. Amenities include a fitness center, clubhouse, dog park and dry-cleaning pick-up. John Reed of NorthMarq arranged the 10-year loan, which features a 30-year amortization schedule. The borrower was not disclosed.
EASTPOINTE, MICH. — Marcus & Millichap has brokered the sale of EZ Storage in Eastpointe, about 10 miles north of Detroit. The sales price was not disclosed. The 65,810-square-foot self-storage building is located at 21500 Gratiot Ave. Brett Hatcher of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. He also secured and represented the buyer, an out-of-state limited liability company.
GALVESTON, TEXAS — JLL has negotiated the sale of Driftwood Apartments, a 238-unit multifamily community located at 7019 Lasker Drive in Galveston. The garden-style property consists of 15 buildings offering one- and two-bedroom units. Gulf Coast Kington Properties, an affiliate of San Angelo-based multifamily investment firm Kington Properties, purchased the asset for an undisclosed price. Chip Nash, Greg Austin and Bob Heard of JLL brokered the transaction.
SAN ANTONIO — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of The Quarry Luxury Townhomes, a 150-unit multifamily community situated on six acres at 250 Treeline Park in San Antonio. The property offers one-, two- and three-bedroom units and amenities such as a resort-style pool, 24-hour fitness center and resident clubhouse. Will Balthrope, Drew Kile and Jordan Featherston of IPA represented the undisclosed seller and procured the buyer, San Francisco-based investment firm Hamilton Zanze.
LINDON, UTAH — WI Commercial Properties (WICP), a developer based in Tampa, Fla., is building out a new master-planned campus in Lindon known as Mountain Technology Center. The $200 million development is situated about 12 miles north of Provo in Utah County. WICP has already invested over $80 million in the 55-acre development and will be investing another $120 million before the project’s completion. The campus sits west of the Pleasant Grove Boulevard freeway interchange and features unobstructed mountain views with lake views to the south. At full build-out, the mixed-use development will feature 650,000 square feet of Class A office and industrial space spread over 10 buildings, as well as a food court off Pleasant Grove Boulevard. The new components coming to the campus include Mountain Tech North, which comprises an 88,000-square-foot flex industrial facility known as Mountain Tech III and the new food court. Mountain Tech III will be the first building with 32-foot clear heights in Utah County, according to WICP. Mountain Tech South is planned on the south side of Pleasant Grove Boulevard. This phase will include two four-story office buildings and four office/warehouse hybrid facilities. Construction on Mountain Tech South is scheduled to begin in …
