Property Type

LA Fitness to Open 34,000 SF Gym in Metro Austin

by Taylor Williams October 17, 2017

CEDAR PARK, TEXAS — LA Fitness will open a 34,000-square-foot gym at Cedar Park Plaza, a retail development located at the corner of Whitestone Boulevard and Bagdad Road in the Austin metro of Cedar Park. Scheduled to open by November 2018, the Cedar Park location will be the company’s sixth gym in the Austin area. John Zikos and Jonathan Cooper of Venture Commercial, along with John Kalamaras and Ted Slaughter of RealSource Partners, represented LA Fitness in the lease negotiations. The landlord, Cedar Park Plaza LP, was self-represented.

October 17, 2017

NAI Secures 14,165 SF Industrial Lease Renewal in Northwest Houston

by Taylor Williams October 17, 2017

HOUSTON — NAI Partners has secured a 14,165-square-foot industrial lease renewal at 6100 West by Northwest in Houston Blvd. on behalf of Craters & Freighters, a Colorado-based shipping firm. Chris Caudill of NAI Partners represented the tenant in the lease negotiations. Harry Kutner and Blake Warren of Stream Realty Partners represented the landlord, Agellan Commercial REIT US LP.

October 17, 2017

Illinois Industrial Midwest

PREMIER Breaks Ground on 323,343 SF Distribution Warehouse in Cicero, Illinois

by Kristin Harlow October 17, 2017

CICERO, ILL. — PREMIER Design + Build Group LLC has broken ground on a 323,343-square-foot distribution warehouse in Cicero, about eight miles southwest of downtown Chicago. Bridge Point 290 will feature 50 exterior truck dock positions, 36-foot clear heights, 273 vehicle parking spots and 77 trailer stalls. Bridge Development Partners LLC is the project developer. The project team also includes architect Cornerstone Architects Ltd., civil engineer SPACECO Inc. and structural engineer Swift Structural Design. George Maragos, Mitch Adams and Nicole Mentone of CBRE are marketing the property for lease. Completion is slated for the first quarter of 2018.

October 17, 2017

Healthcare Illinois Midwest

Avison Young Arranges Sale of 93,903 SF Medical Office Building in Lake Bluff, Illinois

by Kristin Harlow October 17, 2017

LAKE BLUFF, ILL. — Avison Young has arranged the sale of the Carriage Point Medical Complex in Lake Bluff, about 35 miles north of Chicago. The sales price was not disclosed. The 93,903-square-foot medical office building is located at 101 Waukegan Ave. Anchored by Fresenius Medical Care, the property is 100 percent leased to several regional healthcare providers. Erik Foster, Mike Wilson and Tim Henry of Avison Young represented the seller, Franklin Partners. J. Emil Anderson & Sons Co., a Chicago-based developer and owner, purchased the property.

October 17, 2017

Kansas Loans Midwest Multifamily

NorthMarq Arranges $2.8M Refinancing of Apartment Property in Lawrence, Kansas

by Kristin Harlow October 17, 2017

LAWRENCE, KAN. — NorthMarq Capital has arranged a $2.8 million loan for the refinancing of Jacksonville Apartments in Lawrence, about 40 miles west of Kansas City. The 88-unit apartment property is located at 700 Monterey Way. Brent Blake of NorthMarq arranged the 10-year loan through Freddie Mac’s small balance loan program.

October 17, 2017

Indiana Midwest Restaurant Retail

Books & Brews to Open at University of Indianapolis

by Kristin Harlow October 17, 2017

INDIANAPOLIS — Books & Brews Used Bookstore and Taproom has signed a 4,600-square-foot retail lease at the University of Indianapolis. Redevelopment of the property, located at 3808 Shelby St., will begin this fall. Books & Brews will be the only restaurant and brewery on campus, according to a news release. Crystal Kennard, Scot Courtney and Richard King III of Lee & Associates represented the landlord, Oakbridge Properties, in the lease transaction. Robb Day of Coldwell Banker Commercial represented the tenant.

October 17, 2017

Illinois Midwest Multifamily

Millennium Brokers $1.7M Sale of Apartment Complex in Cicero, Illinois

by Kristin Harlow October 17, 2017

CICERO, ILL. — Millennium Properties R/E has brokered the sale of a 38-unit apartment complex in Cicero, a western suburb of Chicago, for $1.7 million. The property, located at 1930 S. Cicero Ave., features 32 two-bedroom units and six one-bedroom units. The building was 95 percent occupied at the time of sale. Michael Mintz of Millennium Properties was the sole broker for the transaction. Neither the buyer nor the seller was disclosed.

October 17, 2017

California Retail Western

Cushman & Wakefield Arranges $22.5M Sale of Canyon Square Plaza in Santa Clarita

by Nellie Day October 17, 2017

SANTA CLARITA, CALIF. — Cushman & Wakefield has brokered the sale of Canyon Square Plaza, a grocery-anchored shopping center in Santa Clarita. A private high-net worth investor acquired the property for $22.5 million. A 40,751-square-foot Vallarta Supermarkets anchors the retail property. At the time of sale, the 96,927-square-foot shopping center was 96 percent occupied by 29 tenants. Dixie Walker and Charley Simpson of Cushman & Wakefield represented the seller, a real estate investment trust, in the deal.

October 17, 2017

California Retail Western

TH Plaza Sells 14,042 SF Retail Center in San Diego for $10.4M

by Nellie Day October 17, 2017

SAN DIEGO — CBRE has arranged the $10.4 million sale of Torrey Highlands Plaza, a 14,042-square-foot retail center in San Diego. Reg Kobzi, Joel Wilson and Michael Peterson of CBRE represented the seller, Paragon affiliate TH Plaza LLC. Tim Mills of CBRE represented the buyer, Santa Monica Property Investors. At the time of sale, Torrey Highlands Plaza was fully leased to 10 tenants.

October 17, 2017

California Retail Western

Hanley Investment Group Completes Three 7-Eleven Deals Totaling $9.1M

by Nellie Day October 17, 2017

LOS ANGELES, SAN DIEGO AND BAKERSFIELD, CALIF. — Hanley Investment Group Real Estate Advisors has completed the sales of three 7-Eleven properties in separate transactions with a combined valued of $9.1 million. In Los Angeles, a private investor acquired a two-tenant retail property, located at 1661 and 1665 S. Robertson Blvd., for $4.4 million. Built in 1977, the 4,722-square-foot property is occupied by 7-Eleven and Launderland Laundry. Jeremy McChesney of Hanley Investment represented the seller, a private investor from Los Angeles, while Michael Irvine of Bulldog Realtors represented the buyer in the 1031 exchange. In the second transaction, a Los Angeles-based family trust purchased a single-tenant 7-Eleven located at 8508 San Carlos Drive in San Diego. A private investor from Los Angeles sold the 2,403-square-foot property, which was built in 1970, for $1.9 million, or $791 per square foot. Allen Park of Packo Investments represented the buyer in the deal. In third deal, McChesney represented the seller, a private investor, in the disposition of a single-tenant 7-Eleven store and gas station located at 5203 Olive Drive in Bakersfield. A private investor form Clovis, Calif., acquired the 3,000-square-foot property for $2.8 million. Sharhan Mheni of Marcus & Millichap represented the buyer …

October 17, 2017

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