HOUSTON — NAI Partners has negotiated a 21,263-square-foot office lease renewal at Brookhollow Central II, located at 2900 N. Loop West in Houston. Dan Boyles and Liz Westcott-Brown of NAI Partners represented the tenant, Houston-based law firm Lorance & Thompson PC. Brian Strait of Lincoln Property Co. represented the landlord, Parmenter Brookhollow LLC, during the negotiations.
FORT MYERS, FLA. — Knott Realty Group has purchased 27 acres of land located at 10400 Meridian Center Parkway in Fort Myers with plans to develop an industrial park at the site. The Baltimore-based company purchased the site from Meridian Airport Park LLC for an undisclosed price. Dubbed Meridian Center, the park will include two speculative buildings totaling 350,000 square feet that are suitable for distribution, warehousing or manufacturing. The property is situated roughly one mile from Southwest Florida International Airport. Knott Realty will initially construct a single-story, 200,000-square-foot manufacturing and distribution facility equipped with 32-foot ceilings, multiple drive-in and loading dock doors and parking accommodations for more than 350 vehicles. The building is slated for completion in summer 2018. Following completion of the first building, the company will begin construction on 150,000 square feet of additional space in a second facility.
ROCK HILL, S.C. — Ware Malcomb, an international commercial real estate design firm, has helped deliver Legacy Park West, a 558,000-square-foot industrial property in Rock Hill, a South Carolina suburb of Charlotte. The development is located roughly one mile from Interstate 77 and includes two speculative industrial buildings, with a third building planned for the future. The one-story buildings feature concrete tilt-up wall panels, insulated steel roof structures and 30- and 32-foot clear heights. Evans General Contractors was the general contractor for the project, and Scannell Properties was the developer.
LOUISVILLE, KY. — Molto Properties, in conjunction with Verus Partners, has acquired 30.4 acres of land to develop a 677,685-square-foot logistics building within the Air Commerce Business Park in Louisville. The project launches the third phase of construction for the industrial park. The new building will feature 36-foot clear heights, trailer parking and car parking. The development is located roughly eight miles from Louisville International Airport. CBRE will market the property and handle the development’s leasing assignment. Phase III is slated for completion in the second quarter of 2018.
ROYAL PALM BEACH, FLA. — Related Development LLC has secured a $52 million construction loan through JP Morgan for Town Southern, a 392-unit apartment community in Royal Palm Beach. The development will include one- to three-bedroom units and feature a private theater, fitness center, yoga and virtual spinning room, steam room, swimming pool, outdoor billiards area, putting green and a tennis court. The project is slated for completion in 2018.
HOT SPRINGS, ARK. — HREC Investment Advisors has arranged the sale of Clarion on the Lake, a 150-room hotel in Hot Springs. A regional hotel owner/operator purchased the asset for an undisclosed price. Kevin Hanley and Patrick Culligan of HREC represented the undisclosed seller in the transaction. The hotel is located on the shore of Lake Hamilton and features a swimming pool, outdoor cabana bar, volleyball court, picnic area and a playground.
ST. LOUIS — The St. Louis College of Pharmacy has opened its new $50 million recreation and student center. The 193,000-square-foot building marks the end of a two-phase construction project that has added more than 400,000 square feet of space to the campus. Features of the new building include a 10,000-square-foot recreation center, a 350-seat dining hall and a 220-bed residence hall for first- and second-year students. The additional residence hall will double the amount of living space on campus. The building will also house the college’s intercollegiate athletic programs, giving student athletes access to a 1,100-seat competition gymnasium and training facilities. The building also features a recreation gymnasium, a 200-meter track, meeting rooms and a student center with student support offices. St. Louis-based Forum Studio designed the building. Paric Corp. managed the project construction.
FARMINGTON HILLS, MICH. — ElmTree Funds has acquired a 116,824-square-foot office property in Farmington Hills. Upon acquisition, ElmTree oversaw a $7 million renovation at the property, which is occupied by Sumitomo Electric Wiring Systems Inc. As part of the same sales transaction, ElmTree acquired eight other buildings in various states totaling 312,974 square feet for $74.1 million. Each property is 100 percent leased. Other properties acquired in the Midwest include a 16,668-square-foot healthcare building in West Des Moines, Iowa, and a 16,694-square-foot healthcare building in O’Fallon, Mo. BioLife Plasma Services LP occupies both properties.
WHEELING, ILL. — The Missner Group and Sitex Group are developing an 84,000-square-foot speculative industrial building in Wheeling. The ground-up facility will be located on a 5.3-acre site at 1075 Chaddick Drive. The building will be designed to accommodate both small and mid-size users, for either a single-user or divisible up to two tenants. The warehouse building will feature 30-foot clear heights, 10 exterior loading docks, two drive-in doors and 90 vehicle parking spaces. Ron Cinkus and Dan Castrogiovanni of The Missner Group will lead construction on behalf of the firm, while Harris Architects will provide design services. Completion is slated for early 2018.
DES MOINES, IOWA — Outlets of Des Moines has unveiled its tenant list leading up to the grand opening on Oct. 20. Notable tenants include Nike Factory Store, LOFT Outlet, Tommy Hilfiger, Bath & Body Works, Toys “R” Us Express, Under Armour, Famous Footwear and Levi’s Outlet Store. A list of retailers was announced each day last week, along with a $1,000 sweepstakes contest. By entering the contest on the shopping center’s Facebook page, shoppers will have the opportunity to win the $1,000 now through Sept. 21. New England Development is the project developer.