GRAND PRAIRIE — Duke Realty and its joint venture partners, Baylor Scott & White Health, have broken ground on a 27,149-square-foot medical center. The hospital will be located just off State Highway 360 in Grand Prairie, roughly midway between Dallas and Fort Worth. Situated on a 2.4-acre plot, the two-story hospital will house a full-service emergency care unit, physician offices and an outpatient clinic. Delivery is slated for summer 2017.
WILMER, TEXAS — Colliers International Group Inc. has finalized the sale of 33.6 acres at Sunridge Business Park, an industrial site located at Fulghum Road near Interstate 45 in Wilmer, a city on the southern outskirts of Dallas. Chris Teesdale and Tom Pearson of Colliers represented Sunridge Business Park in the transaction. Pete Richardson of Primera Cos. represented the buyer, GP Storage LLC.
SAN ANTONIO — BMC Capital has arranged a $5.2 million loan for the purchase of Hidden Meadow Apartments, a 159-unit multifamily complex located at 5959 Wurzbach Road in San Antonio. Keith Van Arsdale of BMC secured the non-recourse loan, which features a 5.1 percent fixed interest rate and a 30-year amortization schedule. The names of the lender and borrower were not disclosed.
TYLER, TEXAS — Civitas Senior Living, a Fort Worth-based seniors development and management firm, has acquired The Hamptons Retirement Community at Greenridge, located at 4250 Old Omen Road in Tyler, a city approximately 100 miles east of Dallas. The deal adds 120 independent and 56 assisted living apartments, as well as 30 cottage-style residences and 38 memory care suites, to Civitas’ inventory.
CARROLLTON, TEXAS — Cushman & Wakefield has arranged a 59,859-square-foot lease at Metroplex Tech Center, a 105,000-square-foot office property located at 3000 Kellway Drive in the north Dallas suburb of Carrollton. Dean Collins and Mark Collins of Cushman & Wakefield represented the subleasing tenant, mortgage loan servicing firm Fay Servicing, in the transaction. Bret Hefton and Greg Langston of Avison Young represented the original tenant, Securus Technologies, which leased the space from Hudson Advisors, the property owner.
FORT WAYNE AND SOUTH BEND, IND. — KeyBank Real Estate Capital has provided two first mortgage loans totaling $12.6 million for the acquisition of a two-property manufactured housing portfolio in northern Indiana. Both transactions were arranged through Freddie Mac. KeyBank provided a $6.4 million loan for the acquisition of Countryside Village at Fort Wayne, a 295-pad manufactured housing community (MHC) located in Fort Wayne. KeyBank also provided a $6.2 million loan for the purchase of Countryside Village at South Bend, a 276-pad MHC located in South Bend. Both properties were constructed in 1977. Timothy Weldon of KeyBank arranged the 10-year loans, which include 30-year amortization schedules. The borrower was not disclosed.
BRIDGETON, MO. — McGrath & Associates has completed a $5.6 million renovation of the St. Louis Heart and Vascular Center in the northwest suburb of Bridgeton. The high-tech ambulatory surgery center and medical office facility is located at 3550 McKelvey Road. McGrath completed renovations at the existing 21,000-square-foot building, such as installing a new exterior skin. The construction also included the removal of roof overhangs and raising the parapet walls to increase the building height. The interior of the facility was fully renovated. The first floor features a catheterization lab/operating room with pre- and post-op recovery rooms, which double as sleep study rooms. The second floor includes the cardiac physicians’ offices and exam rooms, as well as a PET/CT scanner. The Marcus Organization was the developer. Bates Associates was the local architect, Innersite was the interior designer and Vanderweil Engineering served as the engineer.
CHANNAHON, ILL. — Industrial Outdoor Ventures (IOV) has acquired an 18.9-acre truck and container yard in Channahon near Joliet. The purchase price was not disclosed, but the asking price was $8 million. Cavalea Continental Freight Inc., the seller, built the property in 2006 to be used as an intermodal container storage facility for customers moving ocean freight through the southwest suburban intermodal rail yards. The property is located at 23264 Youngs Road and includes a maintenance shop and office building. IOV plans to make some improvements to the asphalt and office space. Dan McGillicuddy and Steve Ostrowski of JLL represented the seller in the transaction. IOV has retained Josh Hearne of Cawley Chicago to market the property for lease.
SCHAUMBURG, ILL. — Quantum Real Estate Advisors Inc. has brokered the sale of the Shoppes at Prime Village in Schaumburg for $2.3 million. The 9,949-square-foot retail center is located at 1414-1424 E. Algonquin Road. A Chicago-based private real estate investor purchased the property. The seller was an undisclosed prominent property owner from the Chicagoland area. Chad Firsel of Quantum represented the seller in the transaction.
LEAWOOD, KAN. — CycleBar has signed a long-term lease for 2,400 square feet in Town Center Plaza in Leawood. The facility, now open, is the indoor cycling fitness studio’s first location in the greater Kansas City area. CycleBar is located at 5053 W. 117th St. Founded in 2004, the indoor cycling franchise offers a variety of cycling classes at over 200 locations nationwide. David M. Block and Max DiCarlo of Block & Co. Inc. Realtors negotiated the lease transaction on behalf of CycleBar.
