Property Type

Hunt Southwest to Open 493,000 SF Distribution Center in Fort Worth

by Taylor Williams May 19, 2017

FORT WORTH, TEXAS — Dallas-based developer Hunt Southwest will open a 493,000-square-foot distribution center in Fort Worth for apparel wholesaler S&S Activewear. The center will be located at 35/820@Mercantile Center, a 657,000-square-foot, Class A warehouse facility in north Fort Worth. Slated to open by the end of the year, the project is expected to create roughly 300 new jobs in the metro. Building amenities include 36-foot clear heights, a seven-inch reinforced concrete slab, cross-dock configuration and a sprinkler system.

May 19, 2017

MQ Receives $18.8M Construction Loan for Grocery-Anchored Retail Center in Prosper

by Taylor Williams May 19, 2017

PROSPER, TEXAS — MQ Development Co. has received an $18.8 million construction loan for Shops at Prosper Trail, a retail center under construction in the North Texas city of Prosper. Kroger will anchor the 27.7-acre project, which is currently in its second stage of development. Todd McNeill of Metropolitan Capital Advisors Ltd. arranged the loan, which features 4.5 percent interest and a 70 percent loan-to-cost ratio.

May 19, 2017

Multifamily Seniors Housing Texas

Mustang Creek to Develop $7.5M Seniors Housing Community in Sachse, Texas

by Taylor Williams May 19, 2017

SACHSE, TEXAS — Mustang Creek Estates will develop a $7.5 million assisted living and memory care facility in the Dallas-Fort Worth metro of Sachse. The 42,000-square-foot Mustang Creek Estates at Sachse is expected to open this fall and create as many as 50 new staffing jobs. The property will be Mustang Creek’s fifth seniors housing asset in the Dallas-Fort Worth area.

May 19, 2017

Retail Texas

Weitzman Negotiates Sale of 81,221 SF Forest Theater Retail Block in South Dallas

by Taylor Williams May 19, 2017

DALLAS — Weitzman has negotiated the sale of the Forest Theater retail block located at 1902-1920 Martin Luther King Jr. Blvd. in South Dallas. The block totals 81,221 square feet, including 31,114 square feet of retail space and the 14,565-square-foot Forest Theater, a landmark property that will be restored as part of the deal. David Zoller of Weitzman represented both the buyer and seller in the transaction. Both parties requested anonymity.

May 19, 2017

Industrial Texas

CBRE Arranges Sale of 192,260 SF Industrial Property in Dallas

by Taylor Williams May 19, 2017

DALLAS — CBRE has arranged the sale of 4895 Mountain Creek, a build-to-suit industrial property in Dallas. LBA Realty, a California-based management company, purchased the asset from the Courtland Development LC, Dallas-based developer for an undisclosed price. Jack Fraker, Jonathan Bryan and Ryan Thornton of CBRE represented the seller in the transaction. Courtland Group built the facility in 2016 for Cummins Inc., an engine and machinery manufacturer

May 19, 2017

Arizona Industrial Western

Young’s Market Co. Purchases Distribution Asset in Phoenix for $20M

by Nellie Day May 19, 2017

PHOENIX — Young’s Market Company has purchased a 248,900-square-foot refrigerated/cold storage industrial building in Phoenix for $20 million. The building is located at 402 S. 54th Place. It was built in 1999 and renovated in 2003. Andy Markham, Will Strong, Mike Haenel and Phil Haenel of Cushman & Wakefield represented the family-owned wines, spirits and select beverages distributor. The seller was Barley Equites V LLC.

May 19, 2017

Colorado Hospitality Western

Holiday Inn Express & Suites Gunnison Hotel in Colorado Sells for $9.7M

by Nellie Day May 19, 2017

GUNNISON, COLO. — A limited liability company has acquired the 107-room Holiday Inn Express & Suites Gunnison for $9.7 million. The hotel is located at 910 E. Tomichi Ave., southeast of Grand Junction. The LLC plans to improve the hotel. Gordon Allred, Shane Hanrahan and Neville Rustomjee of Marcus & Millichap represented the buyer. Allred and Rustomjee also represented the seller, another LLC, in this transaction.

May 19, 2017

California Retail Western

CBRE Arranges $9.1M Sale of Car Dealership in San Juan Capistrano

by Nellie Day May 19, 2017

SAN JUAN CAPISTRANO, CALIF. — CBRE has arranged the $9.1 million sale of a net-leased property in San Juan Capistrano to a private local buyer utilizing a 1031 tax-deferred exchange. The property, a car dealership, traded for $348 per square foot. CBRE’s Gary Stache, Anthony DeLorenzo and Doug Mack represented the seller, TerraCotta Group LLC, a private investment firm based in El Segundo. CBRE’s Emil Gurfinkel, Tim Kuruzar and Ken McLeod represented the buyer. The 26,181-square-foot Fiat Chrysler Automobiles car dealership, located at 32881 Camino Capistrano, traded at a 5.1 percent capitalization rate.

May 19, 2017

California Retail Western

Cahuenga Investors Buys Former Home of Grandmasters Recorders for Retail Development

by Nellie Day May 19, 2017

HOLLYWOOD, CALIF. — Cahuenga Investors LP, a Los Angeles-based investment group, has acquired the home of Grandmasters Recorders, a recording studio on North Cahuenga Boulevard in Hollywood, to make room for a retail development. The price was $6.1 million. The building was built in the 1920s and began its life as Bijou Studios. Artists who have recorded at Grandmaster Recorders include Stevie Wonder, David Bowie, Ringo Starr, Tom Petty, Motley Crue, Chaka Kahn, Rick James, Blondie, Billy Idol, The Pointer Sisters, Red Hot Chili Peppers, The Black Crowes, Foo Fighters, Gwen Stefani, Jack Johnson, Kanye West, Nine Inch Nails, Tool and Rush. Kathleen Silver and Kay Sasatomi of Silver Commercial represented the seller in the transaction. Howard Sadowsky of Brooktree Partners represented the buyer. The property includes a 9,200-square-foot commercial building on 8,557 square feet of land, is located at 1518 N. Cahuenga Blvd. The buyer plans to renovate and convert the space to retail, restaurants and possibly a nightclub.

May 19, 2017

Arkansas Industrial Southeast

Chinese Textile Company to Invest $410M for Manufacturing Facility in Forrest City, Arkansas

by John Nelson May 19, 2017

FORREST CITY, ARK. — Shandong Ruyi Technology Group (Ruyi), a textile manufacturer based in China, plans to invest $410 million into the former Sanyo manufacturing facility in Forrest City. The facility will be the company’s first property in North America. Ruyi plans to employ up to 800 people at the plant, with plans to begin renovations in the fourth quarter of this year. The property has been vacant since Sanyo shut down production in 2007. Ruyi will use the facility to take 200,000 tons of Arkansas cotton annually and spin it into yarn for textile use. The company plans to begin operating at the Forrest City plant by mid-2018. The Arkansas Economic Development Commission worked with Ruyi to bring this deal to fruition. Ruyi can earn up to $4 million in grants from the State of Arkansas, depending on the company’s job creation at the plant.

May 19, 2017

Newer Posts

Older Posts