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New JerseyNortheastRetail

Ideal Market Place Grocery Store Opens in Clifton, New Jersey

by Haisten Willis

CLIFTON, N.J. — Ideal Market Place has opened a new location at the Botany Plaza shopping center in Clifton. Ideal Market Place is a brand of the supermarket chain America’s Food Basket (AFB), which specializes in international foods. According to the AFB website, the company operates within all five boroughs of New York, and has expanded into New Jersey, Massachusetts, Connecticut and Rhode Island. AFB currently operates 43 locations, including the 24,500-square-foot Ideal Market Place in Clifton. Nassimi Realty, a privately held development and investment company, owns Botany Plaza.

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New JerseyNortheastRestaurantRetail

Litze Biergarten Opens Along Hudson River in Jersey City, New Jersey

by Haisten Willis

JERSEY CITY, N.J. — Lutze Biergarten, a 23,000-square-foot outdoor beer garden, has opened along the Hudson River waterfront in Jersey City. The property is adjacent to Harborside, a mixed-use asset. Mack-Cali Realty Corp. owns both properties. Lutze features three seating areas and a selection of craft beers, cider, wine and sangria, as well as food from Jake’s Downtown and Bacon Me Crazy.

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New JerseyNortheastRetail

M&M Negotiates $4.2M Sale of Retail Property in Bridgewater, New Jersey

by Haisten Willis

BRIDGEWATER, N.J. — Marcus & Millichap has negotiated the $4.2 million sale of Chimney Rock Plaza, a 14,700-square foot retail property located in Bridgewater. Ben Sgambati, Alan Cafiero and Brent Hyldahl of Marcus & Millichap’s New Jersey office marketed the property on behalf of the seller, a private investor. The team also secured and represented the buyer, another private investor. Chimney Rock Plaza is located at 564-574 Union Ave. The property sits on 1.7 acres near Route 287 submarket.

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IndustrialTexas

Seefried Delivers 322,194 SF Mercedes-Benz USA Distribution, Learning Center in Grapevine

by Taylor Williams

GRAPEVINE, TEXAS — Developer Seefried Industrial Properties Inc. has delivered a 322,194-square-foot distribution and learning center in Grapevine for Mercedes-Benz USA. Situated on 31 acres along Lakeside Parkway at Enterprise Road, the property consists of a 262,969-square-foot distribution center and a 59,215-square-foot learning and performance center. Richardson-based construction firm Hill & Wilkinson served as general contractor on the project.

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IndustrialTexas

HLC Arranges Sale of 68,092 SF Industrial Asset in Farmers Branch

by Taylor Williams

FARMERS BRANCH, TEXAS — Holt Lunsford Commercial (HLC) has arranged the sale of a 68,092-square-foot distribution warehouse in the Dallas-Fort Worth metro of Farmers Branch. Situated on 3.3 acres at 14335 Gillis Road, the property, which was built in 1977, features 18-foot clear heights, three dock-high loading doors and a sprinkler system. Joshua Barnes of HLC represented the undisclosed seller in the transaction. John Nguyen and Heather Nguyen of NewQuest Properties represented the buyer, 85C Bakery & Café, a Taiwanese bakery and coffee shop chain.

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OfficeTexas

Marcus & Millichap Brokers $4.7M Sale of 63,714 SF Office Building in Laredo

by Taylor Williams

LAREDO, TEXAS — Marcus & Millichap has brokered the $4.7 million sale of Walker Plaza, a 63,714-square-foot office building located at 5810 Bernardo Ave. in the south Texas city of Laredo. James Bell and Keith Lloyd of Marcus & Millichap represented the seller, an undisclosed partnership. The name and representative of the buyer were not released.

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IndustrialTexas

Cypressbrook Negotiates 26,185 SF Industrial Lease in North Houston

by Taylor Williams

HOUSTON — Cypressbrook Co. has negotiated a 26,185-square-foot industrial lease on behalf of Displayco USA Inc., a Houston-based marketing firm, at 3800 Distribution Blvd. in north Houston. Greg Montes of Cypressbrook represented the tenant in the lease negotiations. Allison Bergman and Jim Foreman of Cushman & Wakefield represented the landlord, Morris Realty Associates LLC.

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IndustrialOfficeTexas

Altaquip Leases 15,000 SF of Office/Warehouse Space in Grand Prairie

by Taylor Williams

GRAND PRAIRIE, TEXAS — Altaquip LLC, an Ohio-based equipment services provider, has leased 15,000 square feet of office/warehouse space at 923 Avenue N in Grand Prairie. Michael Stanzel and Patrick Embry of NAI Robert Lynn represented the undisclosed landlord in the lease negotiations. Corby Hodgkiss of Mercer & Co. represented Altaquip.

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IndustrialKansasMidwest

Copaken Brooks Begins Development of 500,000 SF Industrial Property in Edgerton, Kansas

by Kristin Harlow

EDGERTON, KAN. — Copaken Brooks has begun development of Midwest Gateway, a 500,000-square-foot industrial property near the BNSF intermodal facility in Edgerton. The property will include two speculative buildings of 301,603 square feet and 186,107 square feet. The project is designed to meet the needs of warehouse, distribution and manufacturing users of smaller footprints. The buildings will feature 32-foot clear heights, motion sensor lighting, docks, truck parking and trailer storage. Construction is slated for completion in February 2018. Midwest Gateway is the closest development site to the BNSF intermodal, according to a press release. Bucky Brooks of Copaken Brooks, along with Nathan Anderson and Russel Pearson of NAI Heartland, are marketing the property for lease. Project team members include GMA Architects, ARCO National Construction, Shafer, Kline & Warren, Krudwig & Associates and Metro Air.

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MichiganMidwestOffice

Dembs Development Acquires Former Federal-Mogul Corp. Headquarters in Southfield, Michigan

by Kristin Harlow

SOUTHFIELD, MICH. — Dembs Development has acquired the former Federal-Mogul Corp. headquarters in Southfield, a northern suburb of Detroit. The purchase price was not disclosed. The 360,000-square-foot office building, located on Northwestern Highway, has been vacant for over a year. The property was built in the early 1970s. Amenities include an underground parking garage, collaborative workspaces, auditorium, restaurant and outdoor seating. The property most recently sold for $12.7 million in July 2004, according to CoStar Group. Dembs Development purchased the property in a joint venture with Pitt Investments.

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