MCALLEN, TEXAS — Acre Construction will build a 46,000-square-foot shopping center along the Expressway 83 frontage west of McColl Road in McAllen. Branded Premier Plaza Retail Center, the project’s first phase of construction, which is set to break ground in July, will deliver 25,000 square feet and Phase II will deliver 21,000 square feet. Completion dates are slated for late 2017 and early 2018, respectively. The property will also feature Class A medical space on the second floor.
LAS COLINAS, TEXAS — Irving-based developer and builder JPI has broken ground on Jefferson Eastshore, a 286-unit, Class A multifamily community overlooking Lake Carolyn in the Dallas metro of Las Colinas. Located within walking distance of the Irving Convention Center DART station, the property will feature a resort-style pool, fitness center and a yoga studio. Leasing is scheduled to begin in fall of 2018.
LAREDO, TEXAS — Majestic Realty Co. has negotiated a 166,400-square-foot lease within Port Grande, a 2,000-acre, master-planned industrial development in Laredo. The undisclosed tenant, an international firm in the automotive industry, will occupy a 366,080-square-foot building scheduled to be complete in late August. This building, which features 32-foot ceiling heights, 120 dock-high doors and 439 combined trailer and automobile parking spaces, is the first speculative property in the 100-acre, Phase I development of the project.
AUSTIN, TEXAS — SOCi, a California-based social media consulting firm, has opened a new office at 3755 S. Capital of Texas Highway, a 74,000-square-foot, Class A office property in southwestern Austin. The opening of the new office, which is the company’s second, comes two months after SOCi closed its $8.5 million Series A financing round.
DALLAS — Tenant representation firm Cresa DFW will relocate its Dallas office from its current location on Knoll Trail Drive to the Pinnacle Tower in Dallas’ Midtown neighborhood, effective August 1. The company has signed a three-year lease at the 24-story property, which is located at 5005 LBJ Freeway. The company’s new offices will provide enough space for 20 employees. Cresa DFW eventually plans to expand its office space to accommodate as many as 50 employees.
CHICAGO — Kiser Group has brokered the sale of a multifamily property in Chicago’s Edgewater neighborhood for $11.5 million. The 80-unit building is located at 5536 N. Sheridan Road. An affiliate of Horizon Group Realty Holdings LLC purchased the property from a local family partnership. Lee Kiser and Michael Feldstein of Kiser Group brokered the transaction.
CHICAGO — Marcus & Millichap has arranged the sale of Ashland Wellington Plaza in Chicago for $9.8 million. The 19,979-square-foot retail property is located at 2862-2928 N. Ashland Ave. Jewel-Osco shadow anchors the property. Adrian Mendoza, Austin Weisenbeck and Sean R. Sharko of Marcus & Millichap marketed the property on behalf of the seller, a private investor. The team also procured the buyer, a St. Louis-based investor.
GLENDALE HEIGHTS, ILL. — Meridian Design Build has completed a 112,288-square-foot industrial tenant build-out for Prologis and OSM Worldwide in Glendale Heights. The property is located at 601 Regency Drive. The project features 10,601 square feet of office space, 13 loading docks, 95 vehicle parking stalls, 21 trailer stalls and one drive-in door. OSM Worldwide is a parcel shipping company. Harris Architects provided architectural and structural engineering services, while Kimley-Horn completed engineering design work. Dan Smolensky of Taurus Modal Group represented OSM Worldwide in the transaction, while Brian Kling and Jonathan Kohn of Colliers International represented Prologis. Meridian Design Build is currently working on improvements for a second tenant that will also occupy the building.
OAK PARK, MICH. — Wurth Baer Supply Co. has signed a 55,045-square-foot industrial lease in Oak Park, a suburb north of Detroit. The wholesale distributor to the woodworking industry will occupy the space at 13390 Cloverdale St. The landlord, Bar Pro Ventures LLC, recently purchased the facility with plans to complete an interior renovation including 3,500 square feet of office space. Jason Capitani of L. Mason Capitani CORFAC International and Steven Podolsky of Podolsky Circle CORFAC International represented Wurth Baer in the lease transaction.
MAUMEE, OHIO — Reichle Klein Group has negotiated a 26,586-square-foot office lease in Maumee, a southwest suburb of Toledo. Adecco USA Inc. will occupy Suite 200 within the Arrowhead Business Park, located at 1695 Indian Wood Circle. Mike Poulos, Harlan Reichle and Walter Plath of Reichle Klein represented the landlord, Arrowhead Toledo Realty LP. Jason Westendorf of Reichle Klein represented Adecco USA, which is a job staffing firm.
