Property Type

Wet Seal to Open 13 Pop-Up Stores for the Holiday Season

by Nellie Day October 31, 2016

IRVINE, CALIF. — Wet Seal will open 13 pop-up locations during the 2016 holiday season at GGP regional shopping centers throughout the United States, including Arizona and Washington. The temporary locations are slated to open simultaneously on Nov. 3. The stores will range from 3,000 to 5,000 square feet. The Tucson Mall in Tucson, Ariz., will receive a pop-up shop, as will Northtown Mall in Spokane, Wash. The Wet Seal LLC is an Irvine, Calif.-based specialty retailer of young contemporary women’s apparel and accessories with over 160 stores in the United States. Chicago-based General Growth Properties, Inc. (GGP) is an S&P 500 company focused on owning, managing, leasing and redeveloping high-quality retail properties throughout the United States.

October 31, 2016

Office Texas

WatchGuard Video to Build $46M Office Facility in Allen

by Haisten Willis October 31, 2016

ALLEN, TEXAS — WatchGuard Video, a manufacturer of law enforcement video systems, will be building its new corporate headquarters in Allen, accommodating up to 700 employees. The build-to-suit project will be completed in two phases for a total of 200,000 square feet of office space and a corporate investment of $46 million. WatchGuard’s new corporate headquarters will be located on 12 acres at the intersection of Exchange and Andrews parkways near Cabela’s and Topgolf, just east of Central Expressway. The first phase of the two-story, 140,000-square-foot office facility is expected to cost $36 million and will open at the end of 2017. The company’s second phase, set for a 2022 completion, will add another 60,000 square feet of space and is expected to require an additional $10 million investment. The company expects to move between 280 and 300 employees into the new office, with a total capacity of around 500 employees before further expansion is necessary. The facility will include open group areas for collaborating, training rooms, an outdoor recreation space, indoor racquetball court, gym, health clinic and a “customer experience room” that allows demonstrations of the company’s products.

October 31, 2016

Illinois Midwest Multifamily

Smithfield Properties Constructs Chicago’s First Ground-up Micro Apartments

by Kristin Harlow October 31, 2016

CHICAGO — Developer Smithfield Properties is nearing completion of SoNu Digs, Chicago’s first ground-up, micro-apartment building. SoNu is located at 1515 N. Fremont St. in the Lincoln Park/SoNo neighborhood. The apartments, which will be ready for occupancy in December, range in size from 336 square feet to 438 square feet. Monthly rental rates range from $1,300 to $1,655. SoNu is the final part of a planned SoNo complex built by Smithfield Properties, which includes the SoNo East apartments and SoNo West condominiums. Calibrate Management will lease and manage the property.

October 31, 2016

Midwest Minnesota Multifamily

WNC Provides Nearly $2 Million in LIHTC Equity for Homeless Veterans in Suburban Minneapolis

by Kristin Harlow October 31, 2016

MINNEAPOLIS — WNC has provided nearly $2 million in low-income housing tax credit (LIHTC) equity to fund the development of Linden Grove Veteran Apartments, a 37-unit affordable housing complex exclusively constructed for homeless veterans of the U.S. Armed Forces in the Minneapolis suburb of St. Cloud. The three-story building sits on six acres of land and is located at 4804 Veterans Drive. The apartments are part of the St. Cloud VA Health Care System and designated as permanent housing for low-income veterans who are homeless or at risk of homelessness. St. Michael Development Group LLC, a subsidiary of The Sand Companies Inc., developed the apartments. Affordable Housing Initiatives LLC served as the managing general partner of the project and Jamie Thelen as its developer.

October 31, 2016

Midwest Minnesota Retail

Mid-America Brokers Sale of 130,000 SF Shopping Center in St. Cloud, Minnesota

by Kristin Harlow October 31, 2016

ST. CLOUD, MINN. — Mid-America Real Estate-Minnesota LLC has brokered the sale of Division Place, a 130,000-square-foot shopping center in St. Cloud. Division Place is located on the corner of Division Street West and 27th Avenue South. Tenants include TJ Maxx, Dollar Tree and Famous Footwear. Joe Girardi and Mark Robinson of Mid-America Real Estate Corp. were the exclusive brokers in the transaction on behalf of the seller, Vanbarton Group. An affiliate of Core Acquisitions LLC purchased the center, and hired Mid-America Real Estate-Minnesota as the exclusive leasing and management firm.

October 31, 2016

Kansas Midwest Restaurant Retail

Block & Co. Arranges Sale of 1.1-Acre Pad Site to Burger King at The Plaza at the Speedway in Kansas City

by Kristin Harlow October 31, 2016

KANSAS CITY, KAN. — Block & Co. Inc. has sold a 1.1-acre pad site at the Plaza at the Speedway development in Kansas City to Burger King. The pad site is located on the northwest quadrant of I-435 and Parallel Parkway in front of Sam’s Club and Kohl’s. The Plaza at the Speedway is an 850,000-square-foot retail shopping center located in the heart of a major tourism district. Other tenants include Walmart Supercenter, Taco Bell and Chick-fil-A. Anchor space, pad sites and small shop spaces are still available. Alex Block and David M. Block of Block & Company represented the seller, Plaza Speedway Development Inc., in the transaction.

October 31, 2016

Midwest Nebraska Retail

40,408 SF Burlington Store Coming to Eagle Run Shopping Center in Omaha

by Kristin Harlow October 31, 2016

OMAHA, NEB. — The Lerner Company has unveiled plans for Burlington Coat Factory to open its second store in Omaha at Eagle Run Shopping Center, located at 4004 N. 132nd St. The new store will occupy a portion of the former Kmart, which closed in December 2014. The new 40,408-square-foot store will open in spring 2017. The opening will bring approximately 50 to 100 new jobs to the Omaha community. Eagle Run Shopping Center is one of The Lerner Company’s joint venture entities.

October 31, 2016

Industrial Texas

ML Realty Partners Acquires Six-Building Industrial Portfolio in Irving

by Haisten Willis October 31, 2016

IRVING, TEXAS — ML Realty Partners has acquired a six-building, 303,687-square-foot industrial portfolio within Union Bower Business Park in Irving. Ranging in size from 30,970 to 64,672 square feet, the buildings are located near Loop 12, Highway 183 and I-35 providing access to Dallas/Fort Worth International Airport and the Dallas central business district. The portfolio includes: 200 Union Bower Court – 59,330 square feet 300 Union Bower Court – 54,000 square feet 400 Union Bower Court – 58,540 square feet 1001 N. Union Bower Road – 64,672 square feet 1101 N. Union Bower Road – 36,175 square feet 1125 N. Union Bower Road – 30,970 square feet

October 31, 2016

Office Texas

SVN Arranges Sale of Office Building in Dallas

by Haisten Willis October 31, 2016

DALLAS — SVN has arranged the sale of a four-story office building located at 8344 R.L. Thornton Freeway in Dallas. SVN’s Steve Fithian and Robin Francis-Baker represented both the buyer, 4D Circle LLC, and the seller, Ozinus Thornton LLC, in the transaction. The 50,075-square-foot property was built in 1984 and stands on 2.2 acres. The Class B property is more than 90 percent leased to tenants including Resource One, Lira Bravo Law, GAO Construction Services, Farmers Insurance, Reliable Life Insurance, Tillery & Associates, World Impact Dallas, Elim Health, Texas AFT, Staff Force and Dr. Pedro Zevallos.

October 31, 2016

tgs-cedar-port-industrial-park-baytown-texas

Industrial Texas

NAI Partners Negotiates Sale of 200 Acres in Baytown to Plastics Industry Company

by Haisten Willis October 31, 2016

BAYTOWN, TEXAS — NAI Partners has negotiated the sale of 200 acres in Baytown. TGS Cedar Port Partners sold the land to Ravago Americas, a distributor of plastic and rubber materials. The transaction represents the second major development in Phase II of TGS Cedar Port Industrial Park, a 750-acre tract with access to Highway 1405 and Highway 99. Phase I of TGS Cedar Port’s is fully contracted for development and Phase II is ready for development. The industrial park is located in Chambers County near Baytown, and includes 15,000 acres with heavy utilities and industrial and commercial transportation infrastructure. The park is barge and rail served by the Union Pacific and the BNSF Railroads. John Ferruzzo, John Simons and Joel Michael of NAI Partners represented the seller, TGS Cedar Port Partners, during negotiations. Gray Gilbert of CBRE represented Ravago Americas.

October 31, 2016

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