ARLINGTON, TEXAS — Bradford Commercial Real Estate Services has negotiated a 30,000-square-foot industrial sublease in 360 Mayfield Business Center, located at 3460 S. Watson Road in Arlington. Michael Spain of Bradford represented the sublessor, consulting firm Anew Business Solutions Inc., and Shane Clark of PSC Consulting Services represented the sublessee.
TULSA, OKLA. — MCR has finished exterior renovations of the Hampton Inn & Suites Tulsa-South Bixby, a 102-room, select-service hotel located at 8220 S. Regal Blvd. next to the Spirit Bank Event Center in Tulsa. The renovations included the additions of new fencing, signage and patio lounge furniture, as well as a fresh paint job.
FORT LAUDERDALE, FLA. — Bridge Development Partners has sold two Class A industrial buildings in South Florida totaling nearly 400,000 square feet for $53 million. The assets include Bridge Point Davie in south Broward County and Bridge Point Crossroads West in northwest Miami-Dade County. Chris Riley, Christian Lee and Jose Antonio Lobon of CBRE represented Bridge Development Group in the sale to an unnamed institutional investment management firm. Built in the second quarter of 2015, the 145,800-square-foot Bridge Point Davie was fully leased at the time of sale to tenants such as Pet Supermarkets and Challenge Warehouse. Steve Wasserman and David Wigoda of JLL managed the leasing assignment for the asset on behalf of Bridge Development. Built in the third quarter of 2016, the 243,300-square-foot Bridge Point Crossroads West was nearly 90 percent leased at the time of sale to tenants such as Ace Transport and Pas Cargo. Wayne Ramoski and Gian Rodriguez of Cushman & Wakefield marketed the asset on behalf of Bridge Development.
ASHEVILLE, N.C. — The University of North Carolina at Asheville is set to break ground on a $33.8 million, 300-bed on-campus student housing community. The six-building development will feature four-, five- and six-bedroom units with full kitchens. The sixth building will offer a multipurpose room and visitor’s center, fitness center and an apartment for the community director. Adjacent parking is also planned as part of the project. Construction will begin this spring.
MEMPHIS, TENN. — The Shopping Center Group has arranged leases with five new tenants at Crosstown Concourse, a 1.5 million-square-foot mixed-use development in midtown Memphis. The project is a redevelopment of a former Sears distribution center constructed in 1927. The new retailers and restaurants joining the tenant lineup include Farm Burger, Area 51 Ice Cream, MEMPOPS, SunTrust Bank and Gloss Nail Bar. Existing tenants include Kitchen Next Door, FedEx Office, Crosstown Brewing Co., Curb Market, I Love Juice, Mama Gaia, French Truck Coffee, Madison Pharmacy, So Nuts and Confections and Hope Credit Union. Crosstown Concourse features 620,000 square feet of commercial and office space, 265 residential units and 65,000 square feet of first-floor retail space. Shawn Massey led The Shopping Center Group is leasing Crosstown Concourse’s retail portion on behalf of the ownership group, Crosstown Building Owner Master Tenant LLC.
BILOXI, MISS. — SVN Multi-Family Group has brokered the $11.5 million sale of Lexington Apartments, a 190-unit multifamily community located in Biloxi. Built in 1995, the property comprises 11 mid-rise residential buildings with an average unit size of 809 square feet. Community amenities include a resort-style swimming pool, grilling and picnic areas, business center with free Wi-Fi access, fire pit, controlled-access gates and concierge services. A private Northeastern real estate investor purchased Lexington Apartments from Beverly Hills, Calif.-based based Latitude Real Estate Investors for $60,526 per unit. Andrew Agee of SVN represented both the buyer and the seller in the transaction.
SHAKOPEE, MINN. — The Opus Group has completed the third phase of development at Valley Park Business Center in Shakopee, southwest of Minneapolis. The 122,400-square-foot building is the final phase of Opus’ development at the 50-acre site. Minnesota-based Fountain Industries, a manufacturer of cleaning equipment and systems, will be the first tenant, leasing approximately 48,000 square feet. The building features 28-foot clear heights, 193 parking stalls, 24 dock doors and six drive-in doors. Previous phases of development at the park include the completion of a 200,000-square-foot speculative development and a 216,000-square-foot build-to-suit warehouse for Amerisource Bergen.
ST. LOUIS — Sealy & Co. has acquired a Class A industrial portfolio totaling 926,287 square feet in the Earth City submarket of St. Louis. The acquisition was made on behalf of Sealy Strategic Equity Partners. All three buildings are located in a master planned business park near I-70 and I-270. The portfolio is 94 percent leased to eight tenants.
ROMEOVILLE, ILL. — Apollo Flow Controls has signed a 226,102-square-foot industrial lease in Romeoville, 26 miles southwest of Chicago. The producer of flow control products will occupy the space at 1881 Normantown Road. The building, developed by Molto Properties in 2015, features 32-foot clear heights, two drive-in doors, 35 docks and parking for 200 cars and 39 trailers. Britt Casey, Chris Lydon and Al Caruana of Cushman & Wakefield represented Apollo in the long-term lease transaction, while Jim Estus of Colliers International represented Molto. Meridian Design Group was responsible for tenant improvements.
BATTLE CREEK, MICH. — Griffin-American Healthcare REIT IV Inc. has acquired Battle Creek Medical Office Building in Battle Creek, about 25 miles east of Kalamazoo. The 46,000-square-foot property is situated on 7.3 acres in a medical office park. The building is currently 97 percent leased and anchored by Brookside Surgery Center. American Healthcare Investors and Griffin Capital Co. LLC are the co-sponsors of the REIT.
