Property Type

CyrusOne Begins Construction on Second Data Center in Chicago Suburb

by Kristin Harlow December 1, 2016

AURORA, ILL. — CyrusOne, a REIT specializing in carrier-neutral data center properties, has broken ground on a 425,000-square-foot data center at the company’s Aurora campus in suburban Chicago. Carrier-neutral data centers allow interconnection between multiple telecommunication carriers. This is the second center at the location. Construction is beginning on part of the land acquired in March 2016 as part of the sale-leaseback transaction with CME Group. The newest data center will provide CyrusOne customers involved in the global financial markets with additional space and connectivity. CyrusOne operates 35 carrier-neutral data center facilities across the United States, Europe and Asia.

December 1, 2016

Illinois Industrial Midwest

Conor Commercial Completes Development of 385,300 SF Industrial Building in Elgin, Illinois

by Kristin Harlow December 1, 2016

ELGIN, ILL. — Conor Commercial Real Estate has completed development of Northwest Pointe II, a 385,300-square-foot speculative industrial building in Elgin, about 35 miles northwest of Chicago. The company also purchased a 20.5-acre site directly adjacent to the development. Northwest Pointe II and neighboring parcel are located within Northwest Corporate Park near the intersection of Galvin and Higgins Roads. The building offers Class A industrial space with 32-foot clear heights. Northwest Pointe I, a 342,620-square-foot speculative industrial facility, was completed in 2014. Multiple design options are available for Northwest Pointe III from 120,000 to 300,000 square feet. John Cassidy and Kenneth Franzese of Lee & Associates represented both the seller and Conor Commercial in all three transactions. McShane Construction Co. and Ware Malcomb comprised the design/build team for Northwest Pointe II.

December 1, 2016

Industrial Midwest Ohio

CBRE Negotiates 90,750 SF Industrial Lease for Polymet Near Cincinnati

by Kristin Harlow December 1, 2016

WEST CHESTER TOWNSHIP, OHIO — CBRE has negotiated the lease of 90,750 square feet of industrial space for Polymet Corp., a manufacturer of high-performance wire for hardfacing, welding and thermal spraying, at Becknell Industrial’s speculative warehouse building in West Chester Township, about 18 miles north of Cincinnati. Polymet will consolidate two of its West Chester operations to the new Port Union E location that is currently under construction. The building, located on Union Centre Boulevard, will have a total of 138,750 square feet and sit on 9.1 acres. Completion is slated for early next year. Robert Bunton of CBRE represented Polymet in the transaction. Jeremy Kraus of CBRE represented the landlord, Becknell, and is currently marketing the remaining 48,000 square feet for lease.

December 1, 2016

Midwest Minnesota Restaurant Retail

Agra Culture Kitchen & Press Signs 3,270 SF Lease at The Finn in St. Paul, Minnesota

by Kristin Harlow December 1, 2016

ST. PAUL, MINN. — Agra Culture Kitchen & Press has signed a lease to occupy 3,270 square feet at The Finn, a mixed-use project under construction in St. Paul’s Highland Park neighborhood. The 68,353-square-foot development by Ackerberg is located at 735 Cleveland Ave. South. Agra Culture is a fast-casual restaurant offering breakfast, lunch and dinner with salads, sandwiches, soups, coffee and smoothies with local and organic ingredients. Agra Culture will occupy the northwest corner of the property. Construction began in March 2016 with project completion slated for spring 2017. Other tenants will include Alchemy365, GENT Cuts and Grooming and Edina Realty. Ackerberg and Cleveland Holdings are developing the project. BKV Group is the architect and Big-D Construction is the contractor. Tim and Josh Bloom of Bloom Commercial Real Estate represented Ackerberg in the transaction.

December 1, 2016

Multifamily Texas

RightQuest Breaks Ground on Phase II of Bella Vista Apartments in Brownsville, Texas

by Amy Works December 1, 2016

BROWNSVILLE, TEXAS — RightQuest LLC has broken ground on the second phase of Bella Vista Apartments, a market-rate apartment community in Brownsville. The second phase of the community includes the addition of 144 apartments, a swimming pool, laundry facility, dog park and additional amenities. The first units of the second phase will be available for occupancy in July 2017. Upon completion, the property will feature 272 apartments, include 128 units from the first phase, two swimming pools, a clubhouse and a variety of amenities. Future phases also include the development of two three-acre commercial pad sites fronting Ruben M. Torres Sr. Boulevard. RightQuest is developing the property on behalf of Brownsville-based JJR Group. The project team for the second phase includes B&A Architects, Mejia & Rose Inc., Nations Construction, SSP Design and Davidson Design Group. IBC Bank-Brownsville is providing the financing for the project. Capstone Real Estate Services is providing lease-up and property management services.

December 1, 2016

Office Texas

Equus Capital Partners Sells 136,444 SF Office Building in Austin

by Amy Works December 1, 2016

AUSTIN, TEXAS — Equus Capital Partners has completed the disposition of Pecan Park, an office property located at 10800 Pecan Park Blvd. in Austin. An affiliate of Mark IV Capital Properties acquired the office building for an undisclosed price. Built in 2009, the four-story, 136,444-square-foot property features a state-of-the-art fitness center and a conference center. Additionally, the building is LEED certified and offers a parking ratio of 4.65 spaces per 1,000 square feet.

December 1, 2016

Illinois Midwest Retail

The Boulder Group Arranges $1M Sale of Net Leased Athletico Property in Chicago

by Kristin Harlow December 1, 2016

CHICAGO — The Boulder Group has arranged the $1 million sale of a single-tenant property net leased to Athletico Physical Therapy in Chicago. The 4,535-square-foot building is located at 8905 S. Commercial Ave. The new Athletico lease is for 10 years and features a 10 percent rental escalation in each of the two five-year renewal option periods. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest real estate investment company. A West Coast-based real estate investment company was the buyer.

December 1, 2016

Multifamily Texas

Marcus & Millichap Arranges Sale of 172-Unit Apartment Community in Carrollton, Texas

by Amy Works December 1, 2016

CARROLLTON, TEXAS — Marcus & Millichap has arranged the sale of Fox Creek Apartments, a multifamily property located at 1910 S. Josey Lane in Carrollton. Constructed in 1969, the property features 172 units in floor plans ranging from 712 square feet to 1,000 square feet, a swimming pool, on-site laundry facility, open parking and on-site management and maintenance. John Barker and Joshua Ross of Marcus & Millichap represented the undisclosed seller, while Barker also procured the buyer, a California-based private investor. Tim Speck is Marcus & Millichap’s broker of record in Texas. The acquisition price was not released.

December 1, 2016

Loans Multifamily Seniors Housing Texas

Harborview Closes Two Seniors Housing Loans Totaling $17M in Texas

by Amy Works December 1, 2016

GRAPEVINE and BUDA, TEXAS — Harborview Capital Partners, a New York-based commercial real estate finance, equity and advisory firm, has closed $17 million in loans for seniors housing communities in Texas. The first loan was a $10.9 million acquisition loan for a 100-bed skilled nursing facility in the Dallas suburb of Grapevine. The second loan was a $6.1 million construction loan for a 48-bed assisted living facility in the Austin suburb of Buda. Avi Begun, senior originator with Harborview, closed both transactions. The borrowers and names of facilities were not disclosed.

December 1, 2016

Industrial Office Texas

Cypressbrook Co. Closes Three Deals Totaling 69,604 SF in Texas

by Amy Works December 1, 2016

HUMBLE, SPRING AND WALLER, TEXAS — Cypressbrook Co. has arranged three transactions totaling 69,604 square feet of office and warehouse space in Texas. In the first transaction, John Hornbuckle of Cypressbrook Co. represented the landlord, Cypressbrook Huntington Volta LP, in the lease of 56,404 square feet of warehouse distribution space, located at 8575 Volta Drive in Humble’s Kenswick Air Freight submarket, to MIQ Logistics. Barrett Gibson of Colliers International represented the tenant. In the second deal, Coil Tubing Technology Inc. sold a 6,000-square-foot office building located at 22305 Gosling Road in Spring. Southern Texas Section PGA acquired the property for an undisclosed price. Joyce Sterling of Cypressbrook Co. represented the seller, while Randy Wilhelm of NAI Partners represented the buyer. In the third transaction, V.J. Towry leased 7,200 square feet of office and warehouse space, located at 41254 Park 290 Drive in Waller, to Cannon Construction. Denis Ksiazek of Cypressbrook Co. represented the landlord, while Melissa Hegemeyer of Coldwell Banker Properties Unlimited represented the tenant.

December 1, 2016

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