ENNIS, TEXAS — Stream Realty Partners has brokered the sale of an industrial facility located at 601 National Drive in Ennis. LSREF4 Dual LLC sold the 315,000-square-foot property for an undisclosed sum. Built in 2007, the property is fully leased to Cenveo Corp., a manufacturer of commercial printing, custom packaging, envelopes and labels. Jamie Jennings, James Mantzuranis, Caitlin Clinton and Cannon Green of Stream Realty Partners represented the seller. The name of the buyer was not released.
GRAND PRAIRIE, TEXAS — Port Logistics Realty has broken ground on a speculative warehouse facility in Great Southwest Industrial Park in Grand Prairie. Offering access to I-30 and Texas State Highways 183 and 360, the 83,125-square-foot industrial property is slated for completion in the second quarter of 2017.
SAN MARCOS, TEXAS — Hill & Wilkinson General Contractors has completed the Science, Technology and Advanced Research One expansion at Texas State University in San Marcos. The $8 million project added 16,000 square feet of lab space and office suites, bringing the facility to a total of 36,000 square feet. The space serves as an incubator for start-up and early-stage businesses by providing tenants access to secure wet labs, clean space, conference rooms and office space for research and development. The project team included PhiloWilke Partnerships, GarzaBury Engineering, E&C Engineers and Consultants and Cardno Haynes Whaley.
DALLAS — DuWest has arranged the sale of a single-tenant retail property located at 8330 N. Stemmons Freeway in Dallas. A California-based 1031 exchange buyer acquired the 30,054-square-foot property from a local partnership for an undisclosed price. Office Depot currently occupies the property. DuWest represented the seller in the deal.
CHANDLER, ARIZ. AND IRVING, TEXAS — Columbia Property Trust Inc. has sold CVS Health Tower in Irving, a western suburb of Dallas, and SanTan Corporate Center in Chandler, a southern suburb of Phoenix, for $109.5 million. With the sales, Columbia has exited the Dallas and Phoenix markets and will use the profits for reinvestment in its target markets. The buyers were not disclosed. CVS Health Tower is a 315,000-square-foot, Class A office building located at 750 W. John Carpenter Freeway. The building is primarily leased to CVS Caremark, an independent pharmacy benefit management provider. IBM also maintains a lease at the property. The 12-story building was completed in 1999 and acquired by Columbia in 2006. SanTan Corporate Center consists of two office buildings totaling 267,000 square feet, completed in 2000 and 2003. Columbia acquired the buildings in 2006. Both buildings are 100 percent leased. Toyota Financial Services fully occupies SanTan Corporate Center I, while multiple tenants occupy SanTan Corporate Center II. With these sales, Columbia has completed $660.5 million of dispositions in 2016. Atlanta-based Columbia Property Trust owns and operates Class A office buildings. The company’s portfolio includes 21 office properties and one hotel. -Kristin Hiller
SAN FRANCISCO — American Realty Advisors has purchased Foundry Square III, a 291,093-square-foot office building in San Francisco’s Transbay District, for an undisclosed sum. The building is situated one block from San Francisco’s $4.5 billion Transbay Transit Center. It is fully leased to tenants like IBM, NASDAQ, Perkins Coie, Neustar and Silicon Valley Bank. Jeffrey Weber and Stephen Van Dusen of Eastdil Secured represented the seller, a development joint venture between Tishman Speyer and institutional investors advised by J.P. Morgan Asset Management.
PHOENIX — City Office REIT has acquired a 175,835-square-foot office building in Phoenix for $42.6 million. The Class A building is located at 5090 N. 40th St. within the Camelback Corridor. It is more than 90 percent leased. The seller was a joint venture between Lowe Enterprises and J.P Morgan Asset Management. CBRE’s Jim Fijan and Will Mast negotiated the transaction.
LOUISVILLE, COLO. — Koelbel and Co. has broken ground on a 57,700-square-foot office project in Louisville. The Class A building is located at 168 Centennial Parkway within the Centennial Valley Business Park. The property offers direct access to U.S. Highway 36 and is nearby to Boulder.
DENVER — HFF has arranged a $32 million refinancing for a 151,500-square-foot creative office development in downtown Denver. The property is located at 3001 Brighton Blvd. in the River North (RiNo) submarket. The property was built in 1939 as a produce depot before. It is 97.7 percent leased to a mix of office, retail and restaurant tenants, including CorePower Yoga, Booyah Marketing and Uber. HFF’s Josh Simon, Kristian Lichtenfels and Riaz Cassum secured the seven-year, fixed-rate loan through a life insurance company. The team worked on behalf of Industry Founders and Clarion Partners.
SAN DIEGO — Pinnacle International has purchased a 30,000-square-foot redevelopment site in San Diego for $14.5 million. The site is located at 1141 E St. in the East Village submarket. It contains a 25,000-square-foot industrial building. The property is zoned for multifamily residential development. Ben Tashakorian and Jessie James of Marcus & Millichap represented the buyer and seller, Rodney Starkey, in this transaction.