Property Type

Graham Packaging Leases 212,000 SF at Distribution Center, Plant in Metro Atlanta

by Camren Skelton September 7, 2017

ATLANTA AND AUSTELL, GA. — Graham Packaging Co., a global plastic packaging solutions firm, has expanded its presence in metro Atlanta with two industrial leases totaling 212,000 square feet. The Lancaster, Pa.-based company signed a 131,505-square-foot lease expansion for a distribution center at 555 Hartman Road in Austell, roughly 17 miles west of Atlanta, and an 81,600-square-foot lease renewal for its packaging plant at 3495 Donald Lee Hollowell Parkway in Atlanta. Kemp Conrad and Chris Copenhaver of Cushman & Wakefield represented Graham Packaging in both lease transactions. GLP Development is the landlord for 555 Hartman Road, and Hartz Mountain Industries is the landlord for 3495 Donald Lee Hollowell Parkway. Graham Packaging will invest $10 million in improvements to the buildings, including increased central utilities, high-speed production lines, larger storage facilities and increased office space.

September 7, 2017

Hospitality Texas

Marcus & Millichap Arranges Sale of 54-Room Hotel in College Station

by Taylor Williams September 7, 2017

COLLEGE STATION, TEXAS — Marcus & Millichap has arranged the sale of Comfort Suites Texas Avenue College Station, a three-story, 54-room hotel located at 2313 Texas Ave. South in College Station. Steve Swenholt, Allan Miller and Chris Gomes of Marcus & Millichap represented the seller and procured the buyer, both of which are private investors.

September 7, 2017

Office Texas

NAI Robert Lynn Negotiates 19,100 SF Office Lease in Richardson

by Taylor Williams September 7, 2017

RICHARDSON, TEXAS — NAI Robert Lynn has negotiated a 19,100-square-foot office lease at 1101 E. Arapaho Road in Richardson. Kent Smith of NAI Robert Lynn represented the tenant. L&S Mechanical, a Texas-based utilities service firm. The landlord, Sooner Management, was represented internally by Mark Jordan and Scot Florsheim.

September 7, 2017

Florida Industrial Southeast

First Industrial Realty Acquires Warehouse Property in Orlando for $8M

by Camren Skelton September 7, 2017

ORLANDO, FLA. — First Industrial Realty Trust Inc. has acquired a warehouse facility located at 550 Gills Drive in Orlando for $8 million. The 102,568-square-foot building features 30-foot clear heights, 22 dock-high doors, two drive-in doors, 128 parking spaces and ESFR sprinkler systems. The facility sits on 5.4 acres and is roughly two miles from Highway 528 and the Florida Turnpike. At the time of sale, the property was fully leased to two tenants. Richard Prokup and Brad Kluever of First Industrial led the efforts internally to acquire the property. Rich Cavano of Cavano Realty LLC helped facilitate the transaction.

September 7, 2017

Indiana Midwest Mixed-Use

HCP Acquires Former Coca-Cola Bottling Plant Site in Indianapolis

by Kristin Harlow September 7, 2017

INDIANAPOLIS — Hendricks Commercial Properties (HCP) has acquired the former Coca-Cola bottling plant site located at 850 Massachusetts Ave. in Indianapolis. The purchase price was not disclosed. The 12-acre site will be home to the $260 million mixed-use Bottleworks District development. Indianapolis Public Schools had previously owned the site and used it to house the school system’s bus maintenance operations. The bottling plant will soon be transformed into a development that will feature a 150-room boutique West Elm hotel, a nine-screen cinema, 180,000 square feet of office space, 200,000 square feet of retail space and a combination of apartments and condominiums. The project will occur over seven to 10 years in five phases, starting with the restoration and redevelopment of the historic Coca-Cola administration building and garages. HCP will begin phase I of Bottleworks in the spring of 2018, with plans to open the West Elm Hotel, food hall, cinema and more than 70,000 square feet of retail space by the end of 2019. The food hall will feature a community-focused marketplace, which will house independently owned Indianapolis businesses. Eppstein Uhen Architects and Indianapolis-based Ratio Architects will provide design services.

September 7, 2017

Industrial Midwest Ohio

CBRE Brokers Sale of 465,256 SF Freezer Warehouse in Columbus, Ohio

by Kristin Harlow September 7, 2017

COLUMBUS, OHIO — CBRE has brokered the sale of Mars Petcare warehouse and distribution facility in Columbus. The sales price was not disclosed. The 465,256-square-foot freezer warehouse is located at 5303 Fisher Road. Mars Petcare US, a subsidiary of Mars Inc., occupies the property with a long-term lease. The property is located immediately adjacent to Mars Petcare’s largest pet food production plant. The property underwent extensive renovations this year to install freezer-cooler equipment. Andrew Sandquist, JC Asensio and Briggs Goldberg represented the sellers, Singerman Real Estate and Green Door Capital. Chicago-based Syndicated Equities and Green Door Capital purchased the property.

September 7, 2017

Illinois Midwest Office

Draper and Kramer Mortgage Corp. Opens New Headquarters in Downers Grove, Illinois

by Kristin Harlow September 7, 2017

DOWNERS GROVE, ILL. — Draper and Kramer Mortgage Corp. has opened a new 23,000-square-foot headquarters in Downers Grove, about 20 miles west of Chicago. Over 125 employees, area business professionals and government officials were in attendance for the grand opening and ribbon-cutting ceremony on Aug. 22. Draper and Kramer Mortgage Corp. has moved to the office, located at 1431 Opus Place, from nearby Lombard, Ill. Staffed by over 100 employees, the Downers Grove headquarters features private and team offices, an open-concept kitchen and dining/gathering area, two conference rooms and a dedicated training room. Occupying the new office are the company’s loan processing, underwriting, closing, training, information technology, secondary shipping, accounting and human resources departments. Staff members were transitioned into the new space from the company’s previous location beginning this spring. Draper and Kramer Mortgage Corp. is a division of Draper and Kramer Inc., which is still based in Chicago.

September 7, 2017

Illinois Loans Midwest Retail

Aries/Conlon Capital Arranges $3.4M Bridge Loan for Shopping Center in Hoffman Estates, Illinois

by Kristin Harlow September 7, 2017

HOFFMAN ESTATES, ILL. — Aries/Conlon Capital has arranged a $3.4 million bridge loan for the refinancing of Golf Higgins Center in Hoffman Estates. Formerly anchored by Tiger Direct, the 28,308-square-foot retail strip mall is located at 675 W. Golf Road. Rushi Shah of Aries/Conlon Capital arranged the loan and is also a co-owner of the new Ace Hardware store, which will anchor the property. The store will officially open on Friday, Sept. 15. The non-recourse loan paid off the borrower’s existing loan and enabled the funding of the necessary tenant improvements to open the Ace Hardware store. The loan will be refinanced to permanent debt in the future. Jagmohan Jayara is the property owner and borrower.

September 7, 2017

Industrial Midwest Wisconsin

Dickman Co. Negotiates Sale of 8,500 SF Industrial Building in Brookfield, Wisconsin

by Kristin Harlow September 7, 2017

BROOKFIELD, WIS. — The Dickman Co. Inc./CORFAC International has negotiated the sale of an 8,500-square-foot industrial building in Brookfield. The sales price was not disclosed. The property is located at 21825 Doral Road. Cale Berg of the Dickman Co. represented the buyer, McCarthy Property Management LLC. Stephen Provancher of MLG Commercial represented the seller, Millicent F. Hawley.

September 7, 2017

Office Texas Top Stories

Intercontinental Real Estate Purchases Office Tower in Austin’s CBD for $119M

by John Nelson September 7, 2017

AUSTIN, TEXAS — Intercontinental Real Estate Corp., a Boston-based real estate investment and development firm, has purchased 5th + Colorado, a newly built, 18-story office tower in Austin’s central business district. The company acquired the property from the developer, a joint venture between Lincoln Property Co. and Goldman Sachs, for $119 million, according to the Austin Business Journal. Located at the corner of 5th and Colorado streets within Austin’s Warehouse District, the 179,000-square-foot office tower comprises eight levels of structured parking, nine floors of Class A office space and a lobby level with 5,822 square feet of retail space. Built in 2016, 5th + Colorado is home to companies including Indeed.com, an online job search forum; Industrious, a co-working office concept; SoftServe Inc., a Ukranian software firm; Plains Capital Bank; and Sherri Hill, an Austin-based fashion brand relocating from 9011 Tuscany Way, according to the Journal. Amenities at the office tower include on-site management and security and a fitness center with showers and locker rooms. Located at 201 W. 5th St., the office building is within walking distance of Lady Bird Lake Hike and Bike Trail, the State Capitol, Austin City Hall, the Austin Convention Center and Republic Square Park. …

September 7, 2017

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