HOUSTON — NAI Partners has brokered the lease of a 28,800-square-foot industrial manufacturing facility located at 6614 Dixie Drive in Houston. Diverse Metal Products LLC leased the facility from 6614 Dixie Properties LLC. Chris Caudill and Jake Wilkinson of NAI Partners represented the landlord in the deal.
ATLANTA — Portman Holdings has broken ground on Coda at Tech Square, a 770,000-square-foot mixed-use development at the edge of Georgia Tech’s campus in Midtown Atlanta. The development cost was undisclosed, but the Atlanta Business Chronicle reports the project as costing $400 million to construct. Upon completion in early 2019, Coda at Tech Square will feature advanced research facilities, a high-speed data center, dining options, outdoor gathering spaces and collaborative office space. The design team includes architect and engineer John Portman & Associates and general contractor DPR Construction.
ATLANTA — Sumitomo Corp. of Americas has closed its $222.5 million purchase of Atlanta Financial Center, a three-building, Class A office asset in Atlanta’s Buckhead district. The 914,774-square-foot property is located on Peachtree Road and sits directly atop the Buckhead MARTA station and has the GA 400 highway run directly underneath. Atlanta Financial Center was 85 percent leased at the time of sale to tenants such as SunTrust Bank and Morris, Manning and Martin. Situated blocks from Lenox Square mall and Phipps Plaza, the property includes a nine-level parking garage with 2,335 parking spaces. Sumitomo Corp. of Americas, a New York-based subsidiary of global Japanese investment firm Sumitomo Corp., plans to upgrade Atlanta Financial Center’s common areas, amenities and building systems and equipment, as well as re-landscape an on-site park. Eastdil Secured brokered the sale.
BOYNTON BEACH, FLA. — ARA Newmark has brokered the $109 million sale of Las Ventanas, a 15-acre mixed-use development in east Boynton Beach. Atlanta-based Pollack Shores Real Estate Group purchased the asset, which features 494 apartment units and 42,000 square feet of retail space. The residences are configured in one-, two- and three-bedroom layouts and rent for anywhere from $1,360 to $2,337 monthly, according to Apartments.com. ARA Newmark represented the seller, Epoch Residential and its joint venture partner, in the transaction.
WASHINGTON, D.C. — Alamo Drafthouse Cinema is set to open its first location in Washington, D.C., at Bryant Street, a mixed-use project currently being developed by MRP Realty. The 44,000-square-foot theater will feature luxury recliners, food prepared in-house and an extensive selection of draft craft beers available both in the theater and a standalone bar named Glass Half Full. The location is set to open in 2019. Upon completion, the 13-acre Bryant Street development will feature 1,550 residential units and 245,000 square feet of retail and restaurant space.
NASHVILLE, TENN. AND HUNTSVILLE, ALA. — Andrew Agee of the SVN Multifamily group has brokered the $19.8 million sale of a three-property multifamily portfolio in Nashville and Huntsville. The communities include the 200-unit Millwood Manor in Nashville, the 110-unit Hartford House in Nashville and the 169-unit Summertree Apartments in Huntsville. A private buyer based in Nashville purchased the portfolio from Athens, Ala.-based J&J Properties for roughly $41,231 per unit. Agee represented both the buyer and seller in the transaction.
AURORA, ILL. — Amazon has unveiled plans to open two new fulfillment centers in Aurora, about 45 miles west of Chicago. The facilities will add more than 1,000 jobs. Amazon currently has fulfillment centers in Edwardsville, Joliet and Romeoville. A center is also under construction in Monee, about 40 miles south of Chicago. At the nearly 1 million-square-foot facility in Aurora, employees will pick, pack and ship small items to customers such as books, electronics and consumer goods. The other fulfillment center, spanning 400,000 square feet, will specialize in handling larger items.
BRIDGEVIEW, ILL. — Darwin Realty has arranged the sale of 9900 Industrial Drive in Bridgeview, about 17 miles southwest of Chicago. Welch Packaging Group Inc., a manufacturer of corrugated packaging, purchased the 215,000-square-foot building. The sales price was not disclosed. Welch will relocate from Countryside to the former crane facility to support its expanding Chicagoland operations. The facility offers heavy power, land for trailer parking and is located immediately off I-294. Welch also plans to add additional improvements to the building. Noel S. Liston and Kevin D. Cooney of Darwin Realty represented Welch in the transaction. Jeff Locascio of Transwestern represented the undisclosed seller.
BENSENVILLE, ILL. — Liberty Property Trust has acquired a five-acre industrial site in Bensenville in the O’Hare Airport metro area. Liberty plans to redevelop the site beginning in early 2017. The property is located at 350 N. York Road and includes a 60,000-square-foot building, which Liberty plans to replace with a 96,962-square-foot, high-efficiency building. Features will include 32-foot clear heights, 20 exterior docks and two drive-in doors. Shell completion of the $11.6 million project is expected to be completed in the third quarter of 2017. Matt Neumann of Liberty, along with Steve Stone and Eric Fischer of Cushman & Wakefield, will handle the leasing of the property.
BROWN DEER, WIS. — Colliers International has brokered a 40,370-square-foot office lease renewal for BMO Harris Bank in Brown Deer, a suburb of Milwaukee. The building is located at 4701 W. Schroeder Drive. Lyle Landowski, Scott Welsh and Mike Fardy of Colliers International brokered the transaction.