Property Type

Doyle Properties Acquires Anaheim Industrial Facility for $19.8M

by Nellie Day June 19, 2017

ANAHEIM, CALIF. — Doyle Properties has purchased an 84,928-square-foot industrial facility in Anaheim for $19.8 million. The flex facility is located at 1250 N. Tustin Ave. The property will serve as the Econolite Group’s new high-image facility. The group specializes in dynamic intelligent transportation systems and transportation management. Econolite previously occupied a former 144,000-square-foot property on La Palma Avenue. The company was in search of a new facility where it could modernize the layout and design to help attract and retain employees. The company also wanted to transition from a heavy manufacturing and sheet metal fabrication site to an engineering/high-tech one. CBRE’s Carol Trapani, Ben Seybold and Sean Ward represented Doyle Properties. Clyde Stauff of Colliers represented the seller, Blackstone Group, in this transaction.

June 19, 2017

Mixed-Use Texas

De La Vega to Develop 1.4 MSF Mixed-Use Project in Dallas

by Taylor Williams June 19, 2017

DALLAS — De La Vega Development will develop OVERstreet at SEVENTYfive, a 1.4 million-square-foot mixed-use project situated at the corner of North Central Expressway and Haskell Avenue in Dallas. The four-building project will deliver 767,000 square feet of office space, a 150-room hotel, 59,500 square feet of retail and restaurant space and a 462,000-square-foot residential tower. The project will also include three parking garages totaling 2,770 spaces. De La Vega purchased the 10-acre tract on which the project will be developed, according to The Dallas Morning News.

June 19, 2017

Hospitality Texas

Woodbine Acquires 224-Room Hilton Dallas Park Cities Hotel

by Taylor Williams June 19, 2017

DALLAS — Woodbine Legacy Investments, a division of Dallas-based hospitality investment firm Woodbine Development Corp., has acquired the Hilton Dallas Park Cities, a 224-room hotel located in the University Park neighborhood in Dallas. The 11-story hotel, which was built in 2001 and renovated between 2012 and 2013, features a heated rooftop pool, business center, fitness center and 10,529 square feet of meeting and event space. John Bourret and Austin Brooks of HFF represented the undisclosed seller in the transaction.

June 19, 2017

Industrial Texas

Boyd Commercial Brokers Sale of 30,114 SF Flex Property in Houston

by Taylor Williams June 19, 2017

HOUSTON — Boyd Commercial has brokered the sale of a 30,114-square-foot office/warehouse property located at 9122 and 9000 Telephone Road in Houston. David Munson and David Boyd of Boyd Commercial represented the sellers, MPM Real Estate LLC and Kervinen Petteri, which sold 9122 Telephone Road and 9000 Telephone Road, respectively. Athena Sidhu of RE/Max Top Realty represented the buyer, Aslam Properties Inc.

June 19, 2017

Loans Multifamily Texas

Dougherty Closes $14M in Refinancing of 318-Unit Apartment Community in Dallas

by Taylor Williams June 19, 2017

DALLAS — Dougherty Mortgage LLC has closed the $14 million refinancing of El Sol Del Lago, a 318-unit multifamily community located at 3120 Oradell Lane in Dallas. Dougherty arranged the 12-year Fannie Mae loan, which has a 30-year amortization schedule, through a partnership with Old Capital Lending on behalf of the borrower, El Sol Del Lago LLC.

June 19, 2017

Hospitality Loans Texas

Eastern Union Arranges $1.5M in Refinancing for 128-Room Hotel in Arlington

by Taylor Williams June 19, 2017

ARLINGTON, TEXAS — Eastern Union Funding, a New York-based mortgage brokerage firm, has arranged a $1.5 million loan for the refinancing of the Quality Inn at Arlington Highlands, a 128-room hotel located near AT&T Stadium in Arlington. Peter Blass of Eastern Union arranged the loan through Southwest National Bank on behalf of the borrower, RMG Hospitality. A portion of the funds will be used for renovating the property.

June 19, 2017

Illinois Industrial Midwest

CBRE Arranges Sale of 300,608 SF Industrial Facility in Bartlett, Illinois

by Kristin Harlow June 19, 2017

BARTLETT, ILL. — CBRE has arranged the sale of a 300,608-square-foot industrial facility in Bartlett, about 35 miles northwest of Chicago. The sales price was not disclosed. The property is located at 1340 Brewster Creek Blvd. on a 16.5-acre site within the Brewster Creek Business Park. Built in 2008, the building features 30-foot clear heights, 4,160 square feet of office space, 65 car stalls and 64 exterior docks. Matt Mulvihill, Kevin Segerson and Cal Payne of CBRE represented the seller, Brewster Creek of Illinois LLC. Jeff Fischer of NAI Hiffman represented the buyer, Greco & Sons.

June 19, 2017

Industrial Midwest Missouri

Hilliker Corp. Brokers Sale of 132,000 SF Warehouse Building in St. Louis

by Kristin Harlow June 19, 2017

ST. LOUIS — Hilliker Corp. has brokered the sale of a 132,000-square-foot warehouse building in St. Louis. The sales price was not disclosed. Serioplast purchased the building with plans to convert it into a plastic bottle manufacturing plant. This will be the company’s first location in North America. Production is expected to begin in the first quarter of 2018. The building is located at 4400 Planned Industrial Drive near I-70. Chris Taff of Hilliker Corp. represented both Serioplast and the seller, Lineage Warehousing.

June 19, 2017

Illinois Midwest Office

Convene Signs 55,000 SF Office Lease at Willis Tower in Chicago

by Kristin Harlow June 19, 2017

CHICAGO — Convene, an operator of full-service meeting and event venues, has signed a 55,000-square-foot office lease for the entire third floor of the 108-story Willis Tower in Chicago. This will be the largest location for the operator of full-service meeting and event venues. Convene provides companies with an outsourced real estate solution for housing large-scale conferences, town halls, corporate events, training sessions and board meetings. The company’s in-house architecture and design team will design the location in Willis Tower. Planned features include 11 flexible meeting and event spaces, as well as breakout space, reception space and two large private outdoor patios, all available for rent by building tenants and outside enterprise companies. The largest rooms will accommodate up to 600 participants. Todd Siegel, Phil Golding and Kim Wiskup of CBRE represented the landlord, Equity Office, in the lease transaction. Craig Coupe and Corey Siegrist of JLL represented Convene. The company plans to occupy the space by the third quarter of 2019.

June 19, 2017

Illinois Midwest Retail

Baum Arranges $2.3M Sale of Retail Building in Orland Park, Illinois

by Kristin Harlow June 19, 2017

ORLAND PARK, ILL. — Baum Realty Group LLC has arranged the sale of a two-tenant retail building in Orland Park for $2.3 million. The property is located at 24 Orland Square Drive. Blaze Pizza and Pearle Vision occupy the property. Patrick Forkin, Brad Teitelbaum and Graham Gold of Baum represented the seller, a local development group. A private West Coast investor was the buyer.

June 19, 2017

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