SUN PRAIRIE, WIS. — Scannell Properties has broken ground on a 102,125-square-foot industrial and office facility for Kollege Town Sports in Sun Prairie, approximately 15 miles northwest of Madison. Kollege Town Sports is a division of Riddell, a designer and developer of athletic apparel and equipment. The building, situated on 13 acres, will support operations such as sales, production and warehousing. Kollege Town will transition to the new facility from its current location in Windsor in spring 2017. The project team includes Avison Young, real estate consultant and construction manager; Incentis Group, public incentives consultant; Scannell Properties, developer; Heitman Architects, architect; Sullivan designBUILD, general contractor; and Quam Engineering, civil engineer.
BIG RAPIDS, MICH. — CBRE Group Inc. has secured acquisition financing for a 264-bed student housing property in Big Rapids, approximately 55 miles north of Grand Rapids. Vision Real Estate Investment purchased Venlo Place Apartments, which serves Ferris State University. The property features amenities such as a 24-hour fitness center, a sand volleyball court and river access. Venlo Place Apartments offers two- and four-bedroom units. The fixed-rate loan features a 20-year term. Jason Brown and Dan Gable of CBRE placed the financing with a national balance sheet lender. The seller and loan amount were undisclosed.
SOUTHFIELD, MICH. — Colliers International has arranged a 2,339-square-foot lease for Naf Naf Grill, a Middle Eastern, fast-casual restaurant chain. Naf Naf Grill will occupy space beginning next spring in an 11,500-square-foot building which is situated on an outlot to Travelers Tower, a 810,460-square-foot office complex. The restaurant will be located at 26555 Evergreen Road in Southfield and will be the company’s third location in metro Detroit. Brian Whitfield, Lou Frango and Matthew Seeley of Colliers International represented the tenant in the transaction.
GRAND RAPIDS, MICH. — Friedman Integrated Real Estate Solutions has negotiated the lease of 36,400 square feet of industrial space in Grand Rapids. Clark’s White Glove Delivery will occupy the climate-controlled warehouse, located at 7458 Expressway Drive, beginning in October. Expressway Dr LC – Robert Grooters Development Co. is the landlord. Larry Schultz of Friedman Integrated Real Estate Solutions represented the tenant in the transaction.
McKINNEY, TEXAS — The Bascom Group has acquired a 260-unit multifamily community located in McKinney. Sperry Van Ness brokered the transaction. John Brownlee and De’On Collins of HFF arranged debt financing from EastWest Bank. James D’Argenio of Bascom sourced and managed the acquisition. Built in 1997, the property consists of 24 two-story residential buildings and one stand-alone leasing center spread across 20 acres. The unit mix comprises 25 percent one-bedroom units and 75 percent two-bedroom units averaging 873 square feet. The seller was also the original developer. Community amenities include a clubhouse, fitness center, pool and tennis court. The property is located 30 miles north of downtown Dallas.
DALLAS — Dallas-based Paladin Partners has finalized the sale of a 1.5 million-square-foot former Home Depot Distribution Center, now called North Texas Industrial Center. The building was sold on behalf of a joint venture partnership that included Hackman Capital Partners, Oaktree Capital and Calare Properties Inc. The building is situated in Corsicana at 2200 S. Business 45, less than a quarter mile from I-45.
HOUSTON — Wellington Fisher Ltd., a subsidiary of Houston-based Wellington Development Co., has sold 17 acres located at the corner of North Main Street and I-1 to the University of Houston. The partnership originally purchased the property from former Houston Rockets star Hakeem Olajuwon. The site has since been used for parking. The University of Houston—Downtown plans to build a science and technology building on the site. Brendan Lynch of CBRE and Rudy Hubbard of JLL represented the seller.
FORT WORTH, TEXAS — The Vitorino Group has arranged the sale of an El Pollo Loco ground lease in Fort Worth. Located along I-35 in front of a Costco, the restaurant is an outparcel of Presidio Towne Crossing, a 1 million square-foot mixed-use development. A Connecticut-based institution was the seller, while a Dallas-based partnership was the buyer.
HOUSTON — NAI Partners has represented Pac-Van Inc. in leasing a freestanding office/warehouse facility situated on 3.1 acres at 12206 Beaumont Highway in Houston. Founded in 1993 in Indianapolis, Pac-Van specializes in providing portable storage and office space solutions. The company provides 14-gauge steel storage containers. Michael Keegan of NAI Partners represented the tenant, Pac-Van, during lease negotiations, while Fausto Nolassco of Realty Associates represented the landlord, Gabriel Valeriano.
BROOKLINE, MASS. — Tocci Building Cos., on behalf of owner Claremont Cos., has completed the construction of Homewood Suites by Hilton in Brookline. Located at 111 Boylston St., the 101,996-square-foot all-suite hotel features 130 guest rooms, a swimming pool and close proximity to the MBTA Green line. The project team included Group One Partners as architects and R.W. Sullivan Engineering as mechanical and electrical engineers.