DESOTO, TEXAS — Dallas-based construction firm ARCO/Murray has completed a 145,000-square-foot warehouse project in the Dallas metro of DeSoto for SEW Eurodrive, a South Carolina-based motor manufacturing firm. Construction on the $10 million facility, which also includes 20,000 square feet of office space, began in June 2016. The property is a fully conditioned tilt-wall assembly plant with 28-foot clear heights, including bridge cranes, paint booths and mezzanine storage.
ALLEN PARK, MICH. — KeyBank Real Estate Capital has provided a $12 million loan for the refinancing of an 809,918-square-foot industrial center located in Allen Park, a southern suburb of Detroit. The property consists of two buildings and a garage. The facilities were built in 1957 and 2000, with renovations in 2010 and 2014-2016. Roush Industries anchors the property. Robert Williams of KeyBank originated the 10-year CMBS loan, which features a 30-year amortization schedule.
SUGAR LAND, TEXAS — Greystar has completed Overture Sugar Land, a 55-and-older multifamily rental community located in the Houston metro of Sugar Land. The property offers a mix of one- and two-bedroom units ranging in size from 676 to 1,215 square feet. Amenities of the four-story facility include a coffee bar and bistro, fitness center with yoga studio, a gaming room and a resort-style pool.
WAUKEGAN, ILL. — PREMIER Design + Build Group LLC has completed a 626,8480-square-foot industrial tenant build-out for an e-commerce company in Waukegan, a northern suburb of Chicago. The fulfillment center resides on the grounds of Bridge Point North, a 240-acre business park located at Route 43 and McGaw Road. The facility features 16,121 square feet of office space, 53 exterior docks and 130 trailer positions. The tenant will likely hire a minimum of 100 full-time employees to staff the facility, according to PREMIER. Joe Ahrens and Scott Lebak of PREMIER oversaw the project. Cornerstone Architects Ltd. provided architectural services, while Manhard Consulting Ltd. and Structures Unlimited delivered engineering support. Bridge Development Partners was the project developer.
GRAND ISLAND, NEB. — Dougherty Funding LLC has provided a $7 million loan for the acquisition of Conestoga Mall in Grand Island, about 100 miles west of Lincoln. The 556,795-square-foot shopping center is located at 3404 W. 13th St. and is 93 percent leased. Tenants include Sears, Best Buy, JC Penney, Dillard’s and Younkers. Dougherty served as lead lender and servicer for the loan on behalf of Conestoga Realty LLC. Joel J. Gorjian of Uber Capital Group LLC arranged the loan.
TULSA, OKLA. — CBRE has brokered the $4.1 million sale of Town West Shopping Center, a 162,396-square-foot retail development located at the intersection of South 49th West Avenue and West Skelly Drive in Tulsa. The property was 93 percent leased at the time of sale to tenants such as Big Lots, Dollar General and Harbor Freight Tools. Austin-based Freestar Investments LLC purchased the property from Tulsa-based Case & Associates. Jason Little and Justin Brannon of CBRE represented the seller in the transaction.
GRAND RAPIDS, MICH. — Grand Valley Medical Specialists (GVMS) has signed a 14,180-square-foot lease to open a medical practice in Grand Rapids. The property, which will accommodate more physicians and patients than the former 10,363-square-foot location on Wealthy Street, is located at 1000 E. Paris Avenue Southeast. GVMS currently employs 15 doctors and five advanced practice providers. GVMS provides primary patient care to the whole family, from infants to adults, through its pediatric, family and internal medicine practices. Although GVMS began seeing patients at the East Paris location on July 18, renovations to the interior of the building are underway, including upgrades to the common areas and restrooms, as well as a remodeling of the lobby. MB Real Estate-health care, the lessor, is managing the renovation project. Mary Anne Wisinski-Rosely and Jason Makowski of NAI Wisinski of West Michigan negotiated the lease transaction.
PLANO, TEXAS — Marcus & Millichap has arranged the sale of Interface Security Systems Office, a 30,100-square-foot, Class B office property situated on 2.5 acres at 6340 International Parkway in Plano. Built in 1999, the property was 100 percent leased at the time of sale. Ron Hebert of Marcus & Millichap represented the seller and procured the buyer, both private investors, in the transaction.
WACO, TEXAS — A partnership between Civitas Capital Group and Atlantic Hotels Group has purchased the 120-room Holiday Inn Express & Suites in Waco. The property is situated within Legends Crossing, a 150-acre mixed-use development near Baylor University’s campus. Hotel amenities include 1,922 square feet of meeting space, an indoor pool and a business center. The seller and sales price were not disclosed.
WESTON, FLA. — Cushman & Wakefield has negotiated a 67,200-square-foot lease with VPX Sports within Weston Commerce Park, an industrial park located at 1951 N. Commerce Parkway in Weston, a town in Broward County roughly 23 miles west of Fort Lauderdale. Chris Metzger, Richard Etner Jr., Christopher Thomson and Matthew McAllister of Cushman & Wakefield represented Mississippi-based owner EastGroup Properties in the lease transaction. JLL represented VPX Sports, a health supplement manufacturer that sells products in brick-and-mortar stores throughout the U.S. and 37 other countries. The company will use the space for its warehouse and distribution needs. The 134,000-square-foot building features 30-foot clear heights, dock-high loading, drive-in doors, an ESFR fire safety system, T5 lighting, 40-foot by 40-foot column spacing and an 118-foot truck court. The building is located roughly one mile from VPX Sports’ 102,000-square-foot corporate headquarters at Weston Distribution Center. With the addition of VPX Sports, Weston Commerce Park is fully leased. The company is expected to move into the building in the third quarter.
