SPOKANE, WASH. — Premier Business Centers has opened a new location in Spokane. The flexible workspace operator is located at 707 W. Main Ave. within the Central Business District. It is situated within the historic Crescent Building.
DALLAS — Churchill Capital Co. has arranged a $42.8 million loan for the refinancing of Browning Place at Mercer Crossing, a three-building, 442,639-square-foot office property in Dallas. Located at 1603, 1605 and 1607 LBJ Freeway, the property includes two interconnected eight-story towers, a two-story annex building and a four-story parking deck. Duke Stone and Steve Forson of Churchill arranged the non-recourse, fixed-rate loan through JPMorgan Chase on behalf of the borrower, Transcontinental Realty Investors Inc.
FRISCO, TEXAS — A joint venture between Dallas Cowboys owner Jerry Jones, former Cowboys quarterback Roger Staubach and Dallas developer Robert Shaw has announced plans for a 17-story apartment complex within The Star in Frisco. The property will feature 160 units with an average size of 1,200 square feet per unit. Construction is scheduled to begin in January 2018, with move-ins scheduled for the first quarter of 2019. Columbus Realty will develop the project.
PLANO, TEXAS — SRS Investment Properties Group has brokered the $24.5 million sale of Creekwalk Village, a 174,484-square-foot shopping center in Plano. Chris Tramontano and John Redfield of SRS represented both the undisclosed seller and the buyer, a private investor based on the East Coast, in the transaction. The center is currently leased to tenants such as Bed Bath & Beyond, Old Navy and Barnes & Noble.
LEWISVILLE, TEXAS — Illinois-based ML Realty Partners will develop a 121,000-square-foot industrial facility in Lewisville. Branded 121 Riverview Crossing, the property will be situated along Business Highway 121 near both Legacy West in Plano and the $5 Billion Mile in Frisco. The facility will be available for lease in spring 2018. Henry S. Miller will handle leasing activity.
KATY, TEXAS — Marcus & Millichap has arranged the sale of Star Plaza, a 19,053-square-foot retail property located at 5803 N. Fry Road in Katy. Gus Lagos and Alex Bouchard of Marcus & Millichap represented the seller and procured the buyer, neither of which was disclosed. The asset had a list price of roughly $2.9 million.
ST. PAUL, MINN. — Dougherty Funding LLC has provided a $15.1 million loan for the construction of a Residence Inn by Marriott in St. Paul. The 102-room hotel will be located on Grand Avenue adjacent to the Children’s Hospital and Allina’s United Hospital, with close proximity to the St. Paul Convention Center and Xcel Energy Center. Included in the project is the preservation of a firehouse that is the City of St. Paul’s oldest remaining municipal building, constructed in 1871. Dougherty Funding served as lead lender and servicer for the loan. St. Paul Hotel Ventures LLC was the borrower.
CHICAGO — CIM Group has acquired two newly constructed buildings in Chicago’s Wicker Park for an undisclosed price. Built in 2016, 1643 N. Milwaukee Ave. is a mixed-use property comprising, residential, office and retail space. 1237 N. Milwaukee Ave., a mixed-use property consisting of residential and retail space, just received a certificate of occupancy. Together, the buildings include 96 apartment units, 23,000 square feet of street-level retail space and 17,400 square feet of office space.
CHICAGO — Essex Realty Group Inc. has arranged the sale of a 26-unit condominium building in Chicago’s Lincoln Park for $7.8 million. The property, located at 512 W. Belden Ave., includes a mix of one- and two-bedroom units. Steven Livaditis and Joe Scheck of Essex marketed the property for sale on behalf of the seller, 512 Belden Association. The team also represented the buyer, a local real estate investor.
CHICAGO — Marcus & Millichap has brokered the sale of Canal Street Self Storage in Chicago for an undisclosed amount. The 66,063-square-foot, 792-unit self-storage facility is located at 1601 S. Canal St. Canal Street Self Storage offers elevator access, 24-hour hour lockers, large truck and trailer access and two levels of docks for loading and unloading. The facility has a wide range of storage options such as eco-friendly storage containers, business documentation storage, climate-controlled units, uncovered boat/recreational vehicle parking spaces and wine storage. Sean Delaney and Michael Mele of Marcus & Millichap represented the seller, a private investor, and procured the buyer, a limited liability company based in the West.